Artificial Intelligence Presight plans international expansion of its AI business Abu Dhabi is stepping up efforts to expand its artificial intelligence and digital services business as part of a billion-dollar push to diversify its economy. Presight, a data analytics company backed by Abu Dhabi-owned AI group G42, is planning to nearly double its overseas revenue as a share of the total. The company, which is […] April 14, 2025
Analysis Construction Global trade war prompts Gulf construction reassessment The global trade tensions triggered by Donald Trump’s tariff hikes is sending shockwaves through the Gulf’s construction sector, leading Saudi Arabia and the UAE to rethink sourcing materials and supply chain networks. The risk of costs accelerating has risen, but over the longer term prices could temper, providing a cost opportunity for the GCC, industry […] April 14, 2025
Analysis Transport Tesla trumpets Saudi launch but China is waiting Tesla’s well-publicised launch event in the Saudi capital, Riyadh, last week attracted a large and boisterous crowd. But the competition is stiff, especially from the Chinese, now the world’s largest maker of EVs, and the charging infrastructure for electric-powered vehicles in the world’s second-largest oil producer is still lacking. Saudi Arabia wants 30 percent of […] April 14, 2025
OpinionOIL & GASOil companies are watching Libya – but do they see opportunity, or a risk too far?Salem Maiar, Consultant in Libyan natural resources and geopolitics
OpiniontradeIt is clear the next generation of Saudis will have a much greater knowledge of ChinaJonathan Fulton, Associate Professor, Zayed University
OpinionlifestyleHigh net worths are cranking up their passport portfolio, with four considered a fair goalFrank Kane, Editor-at-Large
Industry Gulf car buyers may benefit from competing non-US manufacturers The UAE and other Gulf markets may benefit from more competitively priced cars from China, Europe and Japan after the US imposed tariffs on imported vehicles this month and pledged to introduce similar duties on auto parts in May. The auto tariff has left international car exporters, of which China is the largest, scrambling to […]
Analysis Manufacturing Jordan’s surging pharma industry may hit US tariff speedbump Growing Gulf spending on health is boosting Jordan’s pharmaceutical industry, but new US tariffs pose a risk to its future, according to analysts. Pharmaceutical exports from Jordan grew by 15 percent last year to $862 million. Another 11 percent growth was projected for this year and further expansion to $1.4 billion in 2029, according to […]
Markets Special purpose companies proposed to boost Saudi IPOs Consultations on introducing special purpose acquisition companies to the Saudi stock exchange’s junior market in an effort to encourage initial public offerings and listings have been announced by Saudi Arabia’s Capital Markets Authority regulator. A special purpose acquisition company, or Spac, is formed to raise money through an IPO, with the funds then used to […]
Analysis Real Estate Shortage of Dubai homes forces buyers to go off-plan A shortage of completed homes for sale in Dubai is pushing people to buy off-plan properties, which have hit record highs in terms of units bought and as a proportion of purchases. Off-plan investors in the emirate have long had to fund their own purchases, but the growing importance of yet-to-be-completed properties may spur more […]
Agriculture Farmers at risk from North Africa locust swarm A locust outbreak in North Africa risks endangering the livelihoods of already hard-pressed farmers in the region. In recent weeks, the Rome-based Food and Agriculture Organization (FAO), a UN agency, has issued a succession of warnings over a growing locust threat spreading from North Africa and across central Africa. In Africa’s north, adult groups of […]
Industry Gulf car buyers may benefit from competing non-US manufacturers The UAE and other Gulf markets may benefit from more competitively priced cars from China, Europe and Japan after the US imposed tariffs on imported vehicles this month and pledged to introduce similar duties on auto parts in May. The auto tariff has left international car exporters, of which China is the largest, scrambling to […]
Analysis Manufacturing Jordan’s surging pharma industry may hit US tariff speedbump Growing Gulf spending on health is boosting Jordan’s pharmaceutical industry, but new US tariffs pose a risk to its future, according to analysts. Pharmaceutical exports from Jordan grew by 15 percent last year to $862 million. Another 11 percent growth was projected for this year and further expansion to $1.4 billion in 2029, according to […]
Markets Special purpose companies proposed to boost Saudi IPOs Consultations on introducing special purpose acquisition companies to the Saudi stock exchange’s junior market in an effort to encourage initial public offerings and listings have been announced by Saudi Arabia’s Capital Markets Authority regulator. A special purpose acquisition company, or Spac, is formed to raise money through an IPO, with the funds then used to […]
Analysis Real Estate Shortage of Dubai homes forces buyers to go off-plan A shortage of completed homes for sale in Dubai is pushing people to buy off-plan properties, which have hit record highs in terms of units bought and as a proportion of purchases. Off-plan investors in the emirate have long had to fund their own purchases, but the growing importance of yet-to-be-completed properties may spur more […]
Agriculture Farmers at risk from North Africa locust swarm A locust outbreak in North Africa risks endangering the livelihoods of already hard-pressed farmers in the region. In recent weeks, the Rome-based Food and Agriculture Organization (FAO), a UN agency, has issued a succession of warnings over a growing locust threat spreading from North Africa and across central Africa. In Africa’s north, adult groups of […]
Artificial Intelligence Presight plans international expansion of its AI business Abu Dhabi is stepping up efforts to expand its artificial intelligence and digital services business as part of a billion-dollar push to diversify its economy. Presight, a data analytics company backed by Abu Dhabi-owned AI group G42, is planning to nearly double its overseas revenue as a share of the total. The company, which is […] April 14, 2025
Markets Foreign activity fuels ADX trading volume Foreign and institutional investors were highly active on the Abu Dhabi Securities Exchange (ADX) in the first quarter of 2025, boosting trading volumes by more than half. The value of foreign investor trades (buy and sell) rose by 62 percent to AED70 billion ($19 billion) in the January to March period from AED43 billion a […] April 14, 2025
Aviation Etihad passenger volume up as fleet and destinations rise A growing fleet size and increased destinations have allowed Abu Dhabi’s Etihad Airways to expand passenger volume in the first quarter of 2025. Passenger numbers rose 16 percent to 5 million in the January to March period, compared to 4.3 million a year ago, according to data released by the state-backed airline. Antonoaldo Neves, CEO […] April 14, 2025
Renewable Energy Masdar to build floating solar plants in Indonesia Abu Dhabi Future Energy Company (Masdar) is to start building floating solar power projects this year in Indonesia, southeast Asia’s largest energy market, the company said in a statement. The UAE renewables company signed two agreements with PT PLN (Persero), Indonesia’s state-owned electricity company, during a state visit by Indonesian President Prabowo Subianto to the […] April 14, 2025
Oil & Gas Adnoc explores bid for US natural gas assets Abu Dhabi state oil company Adnoc is in the early stages of considering a bid for Dallas-based Aethon Energy Management’s US natural gas assets, according to a person familiar with the matter. Adnoc has done a string of acquisitions in gas and chemicals, which, along with liquefied natural gas and renewables, it considers as pillars […] April 14, 2025
Real Estate Egypt and Saudi Arabia plan joint real estate fund Saudi Arabia and Egypt are planning to create a joint fund to carry out real estate projects in the two countries, an Egyptian official has revealed. Egypt, which is locked in an IMF-recommended programme to stimulate its economy, also wants Saudi investors for new projects in central Cairo, in line with a plan to be […] April 14, 2025
Analysis Transport Tesla trumpets Saudi launch but China is waiting Tesla’s well-publicised launch event in the Saudi capital, Riyadh, last week attracted a large and boisterous crowd. But the competition is stiff, especially from the Chinese, now the world’s largest maker of EVs, and the charging infrastructure for electric-powered vehicles in the world’s second-largest oil producer is still lacking. Saudi Arabia wants 30 percent of […] April 14, 2025
Aviation Saudi Arabia invites bids for charter airline Saudi Arabia’s aviation regulator is inviting bids to set up a national charter airline. The General Authority of Civil Aviation opened the bid process on April 13 and has set a submission deadline of May 21, it said in a statement. All the bids will be opened on May 22. In February the regulator announced […] April 14, 2025
Logistics Outbound containers drive bumper March for Saudi ports A significant increase in the number of exported containers from Saudi Arabia helped drive a spike in volumes for ports across the country, according to the Saudi Ports Authority (Mawani). Exported containers rose 32 percent in March compared with the previous year. 280,341 20-foot equivalent units (TEUs), a common industry measurement, were exported compared to […] April 14, 2025
Analysis Construction Global trade war prompts Gulf construction reassessment The global trade tensions triggered by Donald Trump’s tariff hikes is sending shockwaves through the Gulf’s construction sector, leading Saudi Arabia and the UAE to rethink sourcing materials and supply chain networks. The risk of costs accelerating has risen, but over the longer term prices could temper, providing a cost opportunity for the GCC, industry […] April 14, 2025
Renewable Energy Morocco steps up solar power drive to meet 2030 target Morocco is intensifying investment in solar power in the hope of hitting a target to raise the use of renewables in its energy mix to more than half. The country has set a target of 52 percent renewables by 2030 after achieving previous targets, local media reported. Newspapers said on Friday that hydrocarbon-poor Morocco has […] April 14, 2025
Logistics Oman targets $5bn investment with port expansion Oman’s Sohar Port and Freezone is seeking to draw in billions of dollars in additional investment, as the first phase of the project nears full occupancy, according to a media report. The expansion will increase annual throughput to more than 2.5 million tonnes of cargo, over $5 billion in investment and an addition of 500 […] April 14, 2025
Logistics Morocco seeks operator for Africa’s largest shipyard Morocco is seeking global companies or consortiums to run what it says will be Africa’s largest shipyard in Casablanca, according to a news report. State-owned National Ports Agency issued a tender last week, inviting bids from shipyard operators to develop, equip and operate the 52-acre facility for 30 years, Bloomberg reported citing communications director Abdellatif […] April 14, 2025
Trade China and Turkey imports widen Tunisia’s trade gap Tunisia’s trade gap rose by two thirds in the first quarter as the government prioritised goods from China and Turkey, official figures show. Imports increased by 5 percent to 20 billion Tunisian dinars ($6.8 billion) in the first three months of 2025 from 19 billion dinars in the same period last year, the National Institute […] April 14, 2025
Opinion Oil & Gas Libya courts oil investors but risks loom large The country's long-term stability will ultimately determine investment success April 11, 2025
Banking & Finance Takeover raises Oman bank competition concerns Oman’s second-largest lender by assets, Sohar International Bank, has secured approval from a smaller rival, Ahli Bank, for it to acquire Ahli. The takeover comes as concerns are raised that consolidation in the country’s banking sector could limit choice and competition, and raise costs for customers. Ahli Bank, which was set up in 2007, said […] April 11, 2025
Industry Gulf car buyers may benefit from competing non-US manufacturers The UAE and other Gulf markets may benefit from more competitively priced cars from China, Europe and Japan after the US imposed tariffs on imported vehicles this month and pledged to introduce similar duties on auto parts in May. The auto tariff has left international car exporters, of which China is the largest, scrambling to […] April 11, 2025
Markets GCC investors bank on gold as US-China tensions escalate Gulf investors are joining the gold rush as they look for a safe haven amid the biggest swings in global markets since the Covid pandemic and the 2008 financial crisis. “Demand for gold in the region remains elevated despite the high price levels, likely a sign of rushing to safety,” Azza Al Habsi, an economist […] April 11, 2025
Economy Turkey says oil price under $65 will tame inflation Turkey’s finance minister Mehmet Simsek said that if the oil price remains below $65 a barrel, it will lower year-end inflation by 1 to 1.6 points this year. Responding to a Reuters question on the impact of a fall in oil prices following recent global trade measures, Simsek said persistent oil prices below $65 could […] April 14, 2025
Oil & Gas Turkey expands African energy foothold with Somali agreement Turkey is expanding its presence in the Somali energy sector after striking a deal to conduct preliminary surveys for oil and gas deposits across the African country as it seeks to reduce its reliance on energy imports, notably from Russia. Turkish energy minister Alparslan Bayraktar and his Somali counterpart Dahir Shire Mohamed this week signed […] April 11, 2025
Trade Turkey looks for positives from tariff fallout Turkey is eyeing a potential upside in its international trade as Donald Trump takes on China and much of the rest of the world in a trade war. As one of the countries initially hit with Trump’s baseline 10 percent tariff, many in Turkey had nonetheless forecast export doors to the US would open for […] April 11, 2025
Food & Drink Turkish fish processors adapt as taste for sushi grows Turkish seafood processors are expanding their product range to cash in on new tastes, eating habits and markets, adding the Japanese delicacy sushi to their offerings. Not so long ago sushi was a rarity in Turkey. It featured on the menus of a few Japanese restaurants in tourist areas catering to foreign visitors rather than […] April 11, 2025
Oil & Gas Turkey steps up oil exploration in Pakistan Energy-poor Turkey is expanding into international oil and gas exploration with a focus on Pakistan, a senior government official has said. “Turkish firms are now turning their focus to international opportunities,” Alparslan Bayraktar, the energy and natural resources minister, said in a speech in Pakistan, according to Daily Sabah newspaper. This week, state-run Turkish Petroleum […] April 10, 2025
Real Estate Egypt and Saudi Arabia plan joint real estate fund Saudi Arabia and Egypt are planning to create a joint fund to carry out real estate projects in the two countries, an Egyptian official has revealed. Egypt, which is locked in an IMF-recommended programme to stimulate its economy, also wants Saudi investors for new projects in central Cairo, in line with a plan to be […] April 14, 2025
Manufacturing Egypt’s Hassan Allam to build concrete hub for Ras El Hekma Egypt’s Hassan Allam Holding has said one of its subsidiaries has signed a memorandum of understanding with Abu Dhabi-listed Modon Holding to supply construction materials for the Ras El Hekma megaproject on the Mediterranean. 3S Ready Mix, one of the country’s largest ready mix concrete suppliers, will develop a ready mix factory and a concrete products hub […] April 14, 2025
Infrastructure Egypt hires US company to modernise locomotives Egyptian National Railways has awarded three contracts worth more than $235 million to US company Progress Rail to modernise its rail locomotive fleet. The contracts include the modernisation of 1,000 diesel-electric locomotives valued at $185 million and a 15-year agreement to supply parts for 141 locomotives worth $42 million, the US Embassy in Egypt said […] April 14, 2025
Opinion Oil & Gas Libya courts oil investors but risks loom large The country's long-term stability will ultimately determine investment success April 11, 2025
Economy Egypt raises fuel prices by 15% as it seeks to cut subsidies Egypt increased prices on fuel products on Friday by up to almost 15 percent, state media reported, marking the first increase in 2025. The government is trying to reduce fuel subsidies as required by the International Monetary Fund’s (IMF) $8 billion support package. The increases of between 11.76 percent and 14.81 percent on a wide […] April 11, 2025
LUNCH WITH FRANK KANE Energy Ahmed Al Azkawi: ‘We are the national champion for oil and gas’ The chief executive of OQEP gives our Editor-at-Large a crash course in Omani energy past, present and future
Leisure & Hospitality Corporate art collections on the rise in the UAE A shiny office tower in the heart of Downtown Dubai may not be an obvious home for a growing international art collection but ICD Brookfield Place is becoming just that. Among the works or exhibitions it has showcased recently are Canadian visual artist Jordan Söderberg Mill’s light and glass installation Standing Wave, Emirati artist Hashel […]
Analysis Tech Gulf urged to add more to its data centre offerings Data centres are big business across the Gulf. But experts say the industry faces some major challenges: developing value-added goods and services, increasing research and development funding and identifying the right energy mix to power them. Sales in the GCC data centre market were worth nearly $3.5 billion last year, according to estimates by Research […]
Analysis Trade The golden question: where next for the UAE-India Cepa? Earlier this week it emerged that Abu Dhabi conglomerate International Holding Company (IHC) and a US institutional investor had between them acquired a minority stake of 6 percent in Haldiram’s, an Indian snack maker, valuing the company at $10 billion. The IHC investment contributes to the UAE’s ranking as the seventh-largest foreign direct investor in […]
Analysis Finance After 2 years without a central banker, Souaid divides Lebanon Last Thursday the Lebanese cabinet approved Karim Souaid as the sixth governor of the country’s central bank, Banque du Liban. Souaid, a former investment banker and asset manager, takes up the post after two years in which Lebanon had no formal banking chief and as the country enters a seventh year of economic and political […]
Analysis Real Estate Shortage of Dubai homes forces buyers to go off-plan A shortage of completed homes for sale in Dubai is pushing people to buy off-plan properties, which have hit record highs in terms of units bought and as a proportion of purchases. Off-plan investors in the emirate have long had to fund their own purchases, but the growing importance of yet-to-be-completed properties may spur more […]
Lifestyle Shisha smokers turn to healthier alternatives In the same way that non-alcoholic drinks are now a regular feature in restaurants and bars in the UAE, hookah smokers are increasingly turning to healthier substitutes to satisfy their shisha fix. “People are seeking alternatives that are better for their health yet do not impact lifestyle choices,” said Naim Madaad, a founding member of […]
Employment Kuwaitis earn nearly five times as much as expats Kuwaiti nationals earn nearly five times as much as their expatriate colleagues, and more than four in every five Kuwaitis work for the government, data from the Central Statistics Administration has revealed. Of 450,000 working Kuwaitis at the end of September, 375,000, or 83 percent, were in the public sector, with the remainder in the […]
Analysis Artificial Intelligence AI ‘employees’ make their mark in the Gulf From customer service to the C-suite, AI “employees” are climbing the corporate ladder in the Gulf as the technology behind them improves. Regional wealth funds such as ADQ are now using AI “boardroom advisers” to help make decisions according to Middle East AI News, while startups are raising capital and launching so-called “AI employees”. These […]
Analysis Aviation Saudia ‘still a flag carrier’ ahead of Riyadh Air launch Saudi Arabia’s flag carrier Saudia is upgrading its fleet with new Boeing and Airbus aircraft even as the government prepares to start a new airline later this year. The 80-year-old carrier has 118 aircraft on order, most of which will replace older models in its existing fleet of 147, and are scheduled to arrive through […]
Analysis Tax Bahrain considers raising taxes to reduce deficits Bahrain’s plan to end a long string of government budget deficits could prove burdensome to both businesses and people as it considers a raft of tax measures. The country is discussing a 12-point plan for its two-year budget, with measures including the introduction of a wider corporate tax, an increase in value added tax (VAT) […]
Analysis Employment UAE and Kuwait companies struggling to hire staff Companies in the UAE and Kuwait are struggling to afford new staff as a result of squeezed margins, according to the latest business sentiment survey. For the third successive month, non-oil companies operating in the UAE highlighted a reduction in prices charged, with discounting used to support sales amid a highly competitive market. This was […]
Entrepreneurs 60 seconds with Satish Sanpal, chairman of ANAX Holding Satish Sanpal established ANAX Holding in Dubai in 2018 as a diversified investment entity. Today, ANAX Holding operates across multiple sectors, including real estate development, hospitality and financial services. ANAX Developments, one of its key subsidiaries, has emerged as a prominent real estate developer in Dubai, delivering high-demand projects across the city. What one piece […] In association with
Economy Arab Monetary Fund gives Somalia $307m of debt relief The Abu Dhabi-based Arab Monetary Fund (AMF) has signed a $307 million debt relief agreement with Somalia to support the African country’s economic reform programme. The agreement covers the restructuring of the debt owed by Somalia to the AMF, the 22-nation-backed fund said in a statement, without giving any further details. Somalia’s finance minister Bihi […]
Opinion Trade South Africa courts Gulf in $5.5bn infrastructure push Some of the UAE’s leading international investors are already present in the South African market
Finance Sanabil leads $110m funding for Saudi-Bangladesh startup Sanabil Investments, a venture capital arm of Saudi Arabia’s Public Investment Fund, has made its first investment in South Asia. The PIF unit and the US venture capital fund Valar Ventures, which was co-founded by Peter Thiel, the co-founder of Paypal, are jointly leading the $110 million funding round for SILQ Group, a new e-commerce platform, […]
Business of Sport Former Saudi owner of English soccer club returns to pitch The former Saudi royal owner of the English Championship side Sheffield United, Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, is returning to the football market with a sports investment fund worth as much as SAR1 billion ($266 million). Prince Abdullah told the Sports Investment Forum in Riyadh this week that his group intends to […]
