Analysis Banking & Finance GCC banks look to US and Europe GCC banks may be forced to look overseas to fulfil growth ambitions as home markets become increasingly saturated, experts say. While some banks have already ventured abroad – mainly into Turkey, Egypt and Pakistan, which constitute nearly a half of their presence outside the Gulf – more developed markets such as the US and Europe […] February 28, 2024
Opinion Business of Sport Why cricket could be next on the list for Saudi Arabia’s PIF Saudi Arabia wants sports with mass participation, rich histories and big economies February 27, 2024
Banking & Finance Dubal Holding net yearly profit down by half Dubal Holding, the investment company owned by the Dubai government, has announced a 50 percent drop in net profit for 2023 compared to the previous year. Dubal Holding, which invests in the commodities, mining, power, energy and industrial sectors, recorded a net profit of AED 1.79 billion ($487 million) for 2023, down from the previous […] February 23, 2024
Tech US-Saudi venture will use AI to analyse space data A US-Saudi joint venture has been launched in the kingdom to use satellite imagery to monitor infrastructure development, traffic congestion and carbon sequestration, the natural process of CO2 storage in the atmosphere. Front End Limited Company, based in Alkobar, the Eastern Province of Saudi Arabia, and SpaceKnow, a New York technology company dedicated to transforming […] February 20, 2024
Trade Rising US exports to the UAE support 125,000 jobs Exports from the United States to the UAE rose by nearly a fifth last year as bilateral trade increased to more than $31 billion. Figures released by the US Department of Commerce Census Bureau show that US exports to the UAE totalled nearly $25 billion in 2023. For the 15th year in a row the UAE was […] February 20, 2024
Giga-projects Neom opens for business in US with New York office Saudi Arabian giga-project Neom has opened an office in New York in a move designed to attract investment from the US for its green industries. Neom said in a statement on February 6 that the Manhattan office would facilitate its business across the US, citing “industries, corporations, and investors” who could help in the development […] February 16, 2024
EXCLUSIVE Real Estate Trump still has ‘big pull’ for $2m branded villas in Oman Donald Trump may be facing criminal investigations in the US, but the 45th president’s brand continues to wield substantial influence in the Gulf. Last week there were more than 100 expressions of interest in a launch of 20 Trump-branded villas in Oman, within 24 hours, according to the project’s developer. “Trump as a brand still […] February 14, 2024
Opinion Markets Stock-picking in Chinese, American and Middle Eastern markets China’s economy is looking weaker than it has for decades February 12, 2024
Opinion Energy Hey Joe, your LNG plan could be downright dangerous Joe Biden's 'pause' on LNG exports seems to be about the election, not energy policy February 5, 2024
Opinion Markets Markets face bumpy ride rather than soft landing Persistent inflation, high interest rates and slow growth will dog 2024 January 29, 2024
Oil & Gas Middle East success pumps up Halliburton results US oilfield services company Halliburton has predicted a strong increase in its Middle East activity, and believes the region is set to be one of its best performing international markets in 2024. During its latest earnings call the energy company revealed $661 million in net income for the last quarter of 2023, down from $716 […] January 25, 2024
Markets Saudi US treasuries holdings hit two-year high Saudi holdings of US treasuries surged to a two-year high of $128.1 billion in November from a six-year low of $108.7 billion in June, according to newly released data from the US Department of the Treasury. Treasuries are government debt instruments issued by the Treasury and auctioned by the US Federal Reserve, and are considered […] January 22, 2024
Analysis Markets Treasury yields fall as traders bet on US rate cuts US 10-year treasury yields have slid from October’s 15-year highs as markets bet the Federal Reserve will start cutting its benchmark interest rate in 2024. Declining 10-year treasury yields, against which many sovereign and corporate bonds worldwide are priced, have led to lower borrowing costs. “We’re starting to see some more new issuance in 2024, […] January 16, 2024
Opinion Economy GCC can emerge as ‘Middle Powers’ in second Cold War Three factors will enable the GCC to benefit from the fragmentation January 9, 2024
Opinion Oil & Gas Five outrageous Middle East predictions for 2024 Pure madness or real possibilities? You decide January 2, 2024
Analysis Oil & Gas Opec set for tricky new year: US booms and demand slows Opec+ has struggled to maintain high oil prices this year and 2023 is ending with Brent trading 10 percent lower year on year and below the crucial $80 break-even mark of GCC countries. 2024 looks likely to be another challenging year for the oil alliance, analysts have told AGBI. Oil demand rose by more than […] December 29, 2023
Opinion Real Estate The dark side of life in Los Angeles The economic record of California will come under global scrutiny December 22, 2023
Analysis Trade UAE-US trade relations defy region’s pivot to the east The trade relationship between the UAE and the US remains strong even while GCC countries increasingly look east for opportunities. In October 2023, the US trade balance with the UAE stood at $1.63 billion, while US exports grew 28 percent year on year to reach $2.3 billion the same month. Martina Strong, the US ambassador […] December 19, 2023
Opinion Economy Sisi’s third term heralds a new economic blueprint Financial crisis looms but Egypt is 'too big to fail' December 14, 2023
Finance UAE and Qatar keep rates steady in line with US Fed The central banks of the UAE and Qatar have followed the US Federal Reserve’s decision to keep interest rates unchanged. The Central Bank of the UAE maintained its base rate on overnight deposit facility at 5.4 percent, the UAE state-run Wam news agency reported. The central bank also decided to maintain the interest rate on […] December 14, 2023
Sustainability Cop28 denies ‘favouritism’ in fossil fuel wording The UN climate talks in Dubai stretched past the Tuesday morning deadline set as tensions mounted over a deal that departed from committing to a phase-out of fossil fuels. The latest draft of the global stocktake sparked fury from climate activists and politicians last night. Majid Al Suwaidi, director-general of Cop28, told a press conference […] December 12, 2023
Renewable Energy Oman could become world leader in geologic hydrogen Green hydrogen has made global headlines as a potential carbon-free alternative to fossil fuels, but some experts believe another, abundant source of the gas could be under our feet. It is known as geologic hydrogen. Geologic hydrogen occurs naturally in the earth’s crust and is produced when water reacts with iron-rich rocks in the subsurface. […] December 10, 2023