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U.S. President Donald Trump's adviser Elon Musk reacts during a rally in support of a conservative state Supreme Court candidate of an April 1 election in Green Bay, Wisconsin, U.S. March 30, 2025. REUTERS/

Gulf investors ‘rewarded’ as Musk’s xAI absorbs X

Gulf co-investors in Elon Musk’s X could benefit from the social media platform’s purchase by xAI, analysts have told AGBI. The deal is expected to help artificial intelligence company xAI train Grok, its AI assistant, to compete in the increasingly competitive generative AI market. Musk’s xAI acquired privately-held X last week in a deal that […]

President Donald Trump announced a raft of trade tariffs in the Rose Garden at the White House in Washington, DC

Middle East fails to escape Trump’s tariffs

US President Donald Trump unveiled far-reaching new tariffs on Wednesday, including on the United Arab Emirates, Saudi Arabia and other countries in the Middle East. Speaking from the Rose Garden of the White House, the president outlined a minimum 10 percent universal tariff on all imports into the United States, regardless of origin. This will […]

US treasuries are considered a haven for Gulf investors – and there are few alternatives aside from gold, says one expert

US treasuries could become less of a safe bet for Gulf investors

Economic advisers to President Donald Trump have proposed radical policies that could dim the allure of US government bonds for Gulf sovereign investors. The bonds, commonly known as treasuries, are considered among the lowest-risk investments. Many countries with excess dollars – from trade surpluses with the US or the sale of dollar-denominated goods such as […]

Damac chairman Hussain Sajwani at his residence in Dubai. Forbes calculates his wealth at more than $10 billion

Damac chairman Sajwani’s wealth doubles to more than $10bn

The fortune of Hussain Sajwani, the chairman of Dubai-based Damac Properties, has doubled in the last year as he takes his place among the world’s wealthiest individuals to become the richest businessman in the Middle East. The 72-year-old real estate magnate is worth $10.2 billion, the annual rich list from Forbes says, significantly higher than […]

The trade volume between Iraq and the US has more than doubled over the past two years, with oil exports increasing by more than 110%

Iraq’s trade balance surplus with US at $6bn

Iraq has a trade balance surplus of nearly $6 billion with the US, a senior government official has said. This comes from oil exports to the US more than doubling in two years, state-run Iraq News Agency reported, quoting prime minister’s financial advisor Mazhar Mohammed Salih. The trade volume between the two countries has more […]

U.S. President Donald Trump meets with Chinese Premier Li Keqiang at the Great Hall of the People November 9, 2017 in Beijing, Peoples Republic of China

China’s investors seek shelter from Trump in Saudi Arabia

President Trump’s trade war is strengthening economic ties between Saudi Arabia and China and encouraging Chinese investors to increase their holdings in the kingdom, analysts say.  As China and its near neighbours face the imposition of economic tariffs – “the most beautiful word in the world”, according to the 47th president – Saudi Arabia has […]

President Donald Trump signing an executive order applying tariffs to all auto imports. The GCC's bilateral trade with the US is worth around $80 billion

The Gulf must brace for indirect hits from Trump’s tariffs

Gulf states may stave off new tariffs US president Donald Trump is expected to announce but the measures’ indirect impact on the global economy and oil prices loom large. The region’s focus, industry watchers say, should be on diversifying trade relationships while embracing the UAE and Saudi Arabia playbook of investing in the United States […]

Cerebras founders Sean Lie, Gary Lauterbach, Michael James, Jean-Philippe Fricker and Andrew Feldman. Abu Dhabi's G42 is about to invest $335m in the company

UAE-backed Cerebras passes US security check before IPO

Cerebras Systems has cleared a US government review into its ties to the UAE’s G42, a spokesperson for the US artificial intelligence company told AGBI on Monday. The positive conclusion of the probe by the Committee on Foreign Investment in the United States (CFIUS) is expected to pave the way for the California-based company’s long-awaited […]

A labourer handles gold bars that are going to be melted at a gold refiner in Istanbul

Gold continues to soar as investors seek refuge

Gold soared to an all-time high of $3,128.06 per ounce on March 31, as investors seek refuge from escalating geopolitical tension, unpredictable trade policies and a shifting monetary landscape.  Gold has rallied more than 18 percent so far this year but analysts say that there is still room to run. A range of factors lies […]

Ivanka Trump and Jared Kushner at President Donald Trump's speech to the US Congress in March

Assets at Kushner’s Affinity soar after Gulf cash injection

Assets under management at Jared Kushner’s investment company Affinity Partners jumped 60 percent last year to $4.8 billion, according to a regulatory filing. The company received a cash injection from Middle East investors, including Qatar’s sovereign wealth fund. Kushner, son-in-law of US President Donald Trump, launched the investment firm in 2021 after leaving the White House […]

Industrial pump jack, oil

Saudi Arabia may cut May oil prices for Asia to three-month low

Top oil exporter Saudi Arabia may lower its crude prices for Asian buyers in May to a three-month low, tracking the steep declines in benchmark prices this month, traders said. The May official selling price (OSP) for flagship Arab Light crude may decline by $1.80 to $2 a barrel from April, four Asian refining sources […]

Mubadala and California State Teachers’ Retirement System have invested $215m between them into 3650 Capital

Mubadala puts more money in US commercial lender

Abu Dhabi’s Mubadala Investment Company has increased its investment in 3650 Capital, a US commercial real estate lender. The UAE sovereign fund and California State Teachers’ Retirement System (CalSTRS), a pension fund, two existing investors, have invested $215 million to allow the US lender to broaden its investment products, 3650 Capital said in a statement. […]

Goldcorp's open pit gold mine in Penasquito, Mexico. $3,100 per ounce is the next big milestone for gold prices, said one analyst

Gold hits record high over trade war fears  

Gold prices scaled a record peak on Friday as concerns over US President Donald Trump’s fresh tariff plans ignited fears of a global trade war, driving a rush towards the safe-haven allure of the precious metal. Spot gold climbed 0.6 percent to $3,073.79 an ounce, as of 02:30 GMT, after hitting an all-time high of $3,077.44 earlier in […]

The value of PIF's stake in US electric vehicle maker Lucid has fallen more than $30 billion

The ups and downs of PIF’s US holdings

Saudi Arabia’s Public Investment Fund (PIF) has made some big gains but has also been hit by some substantial losses in listed US companies in the five years since it began publishing its holdings, AGBI analysis shows. Overall, the value of its assets in publicly traded companies in the US has plunged 55 percent from […]

US secretary of state Marco Rubio with Turkish foreign minister Hakan Fidan this week. The two countries hit each other with tariffs in 2018 during the first Trump administration

EU customs union makes Turkey a US tariff target

Turkey’s customs entanglement with the European Union (EU) makes it vulnerable to retaliatory tariffs from the United States in the months ahead. The White House has collated a “dirty 15” list of countries which it alleges maintain unfair levies on goods and substantial trade surpluses over the US. They are expected to be the first […]

Tesla Saudi Arabia

Tesla to launch in Saudi Arabia next month

Tesla is due to launch in Saudi Arabia on April 10, with a special event at the Bujairi Terrace in Riyadh to show off its products, including its autonomous driving Cybercab and Optimus, its humanoid robot.   Elon Musk’s electric vehicle company is currently facing slowing sales and rising competition from cheaper Chinese rivals in key […]

Cerebras G42

Cerebras IPO still in limbo over US fears on Abu Dhabi stake

Worries in the United States over a stake by an Abu Dhabi company in Cerebras Systems, the US chipmaker, are continuing to leave its IPO in limbo, five sources familiar with the matter said. The sticking point for California-based Cerebras is the review by the Committee on Foreign Investment in the United States (CFIUS) of […]

Supporters of Istanbul Mayor Ekrem Imamoglu gather to protest against his detention. Uncertainty in Turkey may dampen US investor interest

Turkish political turmoil risks undermining US investor appetite

Last week’s arrest of the mayor of Istanbul and resulting political unrest in Turkey’s financial capital may cool US companies’ interest in doing business in the country, industry observers say. Ekrem İmamoğlu, a popular opposition figure who had been gearing up to run in the 2028 presidential election, was detained last Wednesday on charges of […]

AI genetic data

Abu Dhabi tenders AI project to analyse genetic data

The Abu Dhabi government has invited companies to bid for the development of an artificial intelligence system that would help doctors and researchers better interpret genetic data. The project calls for a large language model (LLM), the same type of AI technology that powers tools such as ChatGPT, to be trained on the Abu Dhabi […]