The US and Saudi Arabia – the world’s second-largest oil producer – are on a “pathway” towards co-developing a civilian nuclear programme for the kingdom, visiting US energy secretary Chris Wright has told reporters. This is the firmest US public statement yet of support for a Saudi nuclear power generating initiative, a topic of long-running […]
Turkey’s agriculture sector is reeling after much of the country was struck by hard frosts last week, damaging vital crops such as hazelnuts and apricots and jeopardising export income. Temperatures plunged between April 10 and 12, with lows of -15C in some regions. More than a third of Turkey’s 81 provinces had frosts and snowfall. […]
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 […]
Opinion
energy
It is too early to bet on a US or China ‘winner’ – better to play for time and use energy diplomacy
Opinion
media & advertising
Dubai chocolate may sound like a calculated branding exercise to promote the city. It’s not
Opinion
ENERGY
Lower LNG prices beckon for all over the next 5 years. But Doha won’t mind so much
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 […]
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 […]
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 […]
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 […]
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 […]
Andrey Ostroukh, Comms consultant
Food is part of a place's cultural identity. Plenty of cities and countries have dishes associated with them
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 […]
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 […]
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 […]
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 […]
Saudi Arabia plans to pay off Syria’s debts to the World Bank, sources have told Reuters, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country’s paralysed public sector. The plans were revealed by “three people familiar with the matter”, Reuters said. It would be the […]
The US and Saudi Arabia – the world’s second-largest oil producer – are on a “pathway” towards co-developing a civilian nuclear programme for the kingdom, visiting US energy secretary Chris Wright has told reporters. This is the firmest US public statement yet of support for a Saudi nuclear power generating initiative, a topic of long-running […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
The country's long-term stability will ultimately determine investment success
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 […]
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 […]
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 […]
Turkey’s agriculture sector is reeling after much of the country was struck by hard frosts last week, damaging vital crops such as hazelnuts and apricots and jeopardising export income. Temperatures plunged between April 10 and 12, with lows of -15C in some regions. More than a third of Turkey’s 81 provinces had frosts and snowfall. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
The country's long-term stability will ultimately determine investment success
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 […]
The chief executive of OQEP gives our Editor-at-Large a crash course in Omani energy past, present and future
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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) […]
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 […]
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 […]
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 […]
Some of the UAE’s leading international investors are already present in the South African market
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, […]
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 […]
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