Markets Population burst bolsters Dubai’s listed companies Listed companies in Dubai were on average the most profitable last year among the Gulf exchanges as the emirate’s banking, real estate and telecom sectors benefited from its expanding population. Net profit at Dubai’s listed companies totalled $25.4 billion, up 16 percent compared with the year before, according to a report by Kuwaiti asset manager […] April 21, 2025
Finance UAE tech investors seek security in the face of uncertainty UAE tech investors reported a strong start to the year but many are increasingly seeking out more mature companies to back, as global economic uncertainty makes them more risk averse, an industry expert has told AGBI. UAE tech startups raised a total of $872 million in the first quarter, nearly triple the $297 million raised […] April 21, 2025
Markets Value of GCC bonds down in first quarter The value of bonds issued by the six-nation Gulf Cooperation Council (GCC) slumped by 7 percent in the first quarter of 2025 following a steep fall in Saudi Arabia, according to a Kuwaiti think-tank. The total value of bonds and Islamic sukuk issued by Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Oman was $51.5 […] April 21, 2025
OpinionlifestyleOne way to ‘do’ Art Dubai is to treat the art as secondary and just focus on the crowdFrank Kane, Editor-at-Large
OpinionlogisticsIt is estimated border waiting times result in a loss to the Gulf region of $266m a yearJohn Manners-Bell, CEO, Transport Intelligence Insight
OpinionagricultureAgricultural trade in the Gulf will not be shielded from the ripple effects of US tariffsMartin Keulertz, Lecturer in environmental management
Tourism Turkey takes the plunge into swimming tourism Blue water swimming enthusiasts drawn to the Bosphorus and Dardanelles straits are providing a boost to the economy
Analysis Artificial Intelligence AI classes to prepare Saudi pupils for the new world Saudi secondary school pupils will soon have classes on artificial intelligence (AI) added to their curriculum. More than 50,000 17 and 18-year-olds will be offered the Introduction to Artificial Intelligence course, a joint initiative between the ministry of education and the Saudi Data and Artificial Intelligence Authority. It is part of an effort by the […]
VIDEO Water Water scarcity: The GCC’s desalination challenge The Gulf is one of the most water scarce regions in the world, so it has had to adopt innovative solutions for its water resources. One of the most prominent of these is desalination. While less than 1 percent of the world’s drinking water is desalinated, GCC countries depend on their desalination plants for up to […]
Analysis Tourism Affordability is the key for Saudi hotel expansion Al Farhan Group, a family-owned company with 16 three- to four-star hotels across Saudi Arabia, plans to open at least one hotel every year for the next several years. Its ambitions reflect those of the Saudi government, which wants to encourage more domestic and inbound business and leisure travel and almost double the number of […]
Exclusive Aviation IATA chief: Boeing and Airbus woes are a win for jet leasing Aircraft leasing companies in the Arabian Gulf are profiting from prolonged delivery delays at aircraft makers Boeing and Airbus, with order backlogs at the manufacturers unlikely to clear before the end of the decade. “These [aircraft leasing] guys are in a fantastic position because they have a fantastic fleet of aircraft,” Willie Walsh, director general […]
Tourism Turkey takes the plunge into swimming tourism Blue water swimming enthusiasts drawn to the Bosphorus and Dardanelles straits are providing a boost to the economy
Analysis Artificial Intelligence AI classes to prepare Saudi pupils for the new world Saudi secondary school pupils will soon have classes on artificial intelligence (AI) added to their curriculum. More than 50,000 17 and 18-year-olds will be offered the Introduction to Artificial Intelligence course, a joint initiative between the ministry of education and the Saudi Data and Artificial Intelligence Authority. It is part of an effort by the […]
VIDEO Water Water scarcity: The GCC’s desalination challenge The Gulf is one of the most water scarce regions in the world, so it has had to adopt innovative solutions for its water resources. One of the most prominent of these is desalination. While less than 1 percent of the world’s drinking water is desalinated, GCC countries depend on their desalination plants for up to […]
Analysis Tourism Affordability is the key for Saudi hotel expansion Al Farhan Group, a family-owned company with 16 three- to four-star hotels across Saudi Arabia, plans to open at least one hotel every year for the next several years. Its ambitions reflect those of the Saudi government, which wants to encourage more domestic and inbound business and leisure travel and almost double the number of […]
Exclusive Aviation IATA chief: Boeing and Airbus woes are a win for jet leasing Aircraft leasing companies in the Arabian Gulf are profiting from prolonged delivery delays at aircraft makers Boeing and Airbus, with order backlogs at the manufacturers unlikely to clear before the end of the decade. “These [aircraft leasing] guys are in a fantastic position because they have a fantastic fleet of aircraft,” Willie Walsh, director general […]
Trade UAE remains Oman’s primary exporter despite increase from China The UAE maintained its position as the top exporter to nearby Oman last year despite a sharp increase in China’s exports to the sultanate, official figures show. The UAE, the second largest Arab economy and a major centre for re-exports, exported OR4 billion ($10 billion) to Oman in 2024 and accounted for almost a quarter […] April 21, 2025
Opinion Lifestyle Bubbly, Bauhaus and Blahniks – a tour of Art Dubai 2025 Over the years, I’ve refined three techniques for experiencing the joys of Art Dubai April 21, 2025
Markets Population burst bolsters Dubai’s listed companies Listed companies in Dubai were on average the most profitable last year among the Gulf exchanges as the emirate’s banking, real estate and telecom sectors benefited from its expanding population. Net profit at Dubai’s listed companies totalled $25.4 billion, up 16 percent compared with the year before, according to a report by Kuwaiti asset manager […] April 21, 2025
Trade UAE foreign trade surges but surplus falls The UAE’s foreign trade surged by nearly half between 2021 and 2024, but the trade surplus softened last year amid global challenges. Foreign trade rose to AED5.2 trillion ($1.4 trillion) in 2024, up nearly half from 2021, state-run WAM news agency reported, citing a World Trade Organisation paper. The UAE, a major re-exporter, is among […] April 21, 2025
Infrastructure More suitors vie for Abu Dhabi’s district cooling business KKR and I Squared Capital are among global asset managers bidding for a district cooling business owned by Abu Dhabi’s Multiply Group, part of a $1.5 trillion empire overseen by one of the UAE’s most powerful sheikhs. District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have […] April 21, 2025
Trade Modi makes trade visit to Saudi Arabia this week Indian Prime Minister Narendra Modi will visit Saudi Arabia this week to meet Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler, to discuss trade, investment and energy tie-ups. The two leaders will also discuss the India-Middle East-Europe Corridor and defence cooperation during the April 22-23 visit, the Indian Express newspaper reported. Saudi Arabia is […] April 21, 2025
Industry PIF-backed elevator company explores US IPO A German elevator company backed by Saudi Arabia’s Public Investment Fund (PIF) is exploring selling shares to the public in the US, Reuters has reported, without citing sources. Düsseldorf-based TK Elevator is expected to be valued at more than €20 billion ($22.7 billion), according to earnings calculations by the news agency. TK Elevator is the […] April 18, 2025
Tech Amazon partners Mena startup to train Gulf cloud engineers Amazon has partnered with the Middle East and North Africa social impact startup Manara to train thousands of people in the UAE and Saudi Arabia in cloud software skills. Amazon Web Services, a division of Amazon that provides on-demand cloud computing platforms to individuals, companies and governments on a metered, pay-as-you-go basis, will invest $3.6 […] April 18, 2025
Analysis Artificial Intelligence AI classes to prepare Saudi pupils for the new world Saudi secondary school pupils will soon have classes on artificial intelligence (AI) added to their curriculum. More than 50,000 17 and 18-year-olds will be offered the Introduction to Artificial Intelligence course, a joint initiative between the ministry of education and the Saudi Data and Artificial Intelligence Authority. It is part of an effort by the […] April 18, 2025
Analysis Tourism Affordability is the key for Saudi hotel expansion Al Farhan Group, a family-owned company with 16 three- to four-star hotels across Saudi Arabia, plans to open at least one hotel every year for the next several years. Its ambitions reflect those of the Saudi government, which wants to encourage more domestic and inbound business and leisure travel and almost double the number of […] April 17, 2025
Tax Trump tariffs threaten $22bn in Arab exports says UN Bahrain and Jordan are the countries likely to be most affected by tariffs planned by President Donald Trump on non-oil exports by the Arab world to the US worth nearly $22 billion, a United Nations body has warned. Despite a sharp fall in the region’s sales of oil to the US over the past decade, […] April 21, 2025
Petrochemicals China to build new industrial city in Iraq China will build an industrial city in the Karbala governorate to develop Iraq’s petrochemical sector, the official Iraq News Agency reported. Sepco Electric Power Construction Corporation, a subsidiary of state-run PowerChina, signed an agreement with Iraq’s ministry of industry and minerals to build four petrochemical plants within the Karbala Industrial City, according to Iraqi News, […] April 21, 2025
Finance UN development arm plans $1bn to help Syria The United Nations Development Programme is hoping to deliver $1.3 billion over three years to support war-ravaged Syria, including by rebuilding infrastructure and backing digital startups, its assistant secretary general has said. Abdallah Dardari told Reuters in Damascus that investing in Syria, which has been hit hard by 14 years of conflict that ended when former leader Bashar […] April 21, 2025
Banking & Finance GCC banks unlikely to escape US tariff impact US President Donald Trump’s imposition of additional import tariffs will trouble GCC banks, despite the bloc’s meagre non-oil exports to the United States, according to analysts. Trump’s tariff strategy, targeted principally at China but worldwide in scope, has roiled global equity markets, sent the dollar tumbling and exacerbated oil price declines. As such, “the indirect […] April 18, 2025
Exclusive Aviation China ‘unlikely to overthrow Boeing-Airbus duopoly’ China’s state-owned planemaker, Comac (Commercial Aircraft Corp of China), is decades away from breaking up the global dominance of Boeing and Airbus, according to the head of the world’s largest airline trade association. The result will be that Gulf Arab carriers such as Emirates, Etihad Airways and Qatar Airways have little choice but to stomach […] April 18, 2025
Analysis Oil & Gas Seaborne oil exports from Iran to China hit record levels Chinese imports of oil by sea rose in March to their highest in 17 months, with imports from Iran hitting a record, according to tanker tracking consultancy Vortexa. Seaborne crude arrivals – which account for about 85 percent of total Chinese oil imports – rose to 10.6 million barrels per day in March, up from […] April 18, 2025
Oil & Gas Jordan to increase gas production from Risha field Jordan is planning to build a 320km pipeline to distribute gas for the domestic market from the Risha field in the northwest of the country, according to an official. The project also includes the construction of a gas treatment plant near Risha, where the country’s largest reserves are located. Officials have said Risha holds nearly […] April 18, 2025
Economy Jordan receives $130m from IMF The International Monetary Fund (IMF) has released $130 million to Jordan as part of an extended fund facility of $1.2 billion which was approved in January 2024. “Jordan’s economy continues to show resilience and macroeconomic stability has been maintained, despite considerable external headwinds from the conflicts in Gaza and Lebanon,” the IMF said in a statement. […] April 18, 2025
Trade Turkey courts US companies and investors during visit Turkish finance minister Mehmet Simsek said he will meet with rating agencies, investors and companies planning to shift supply to Turkey during a visit to the US this week. “I will be in America this week for the IMF, World Bank and G20 meetings. We will meet with rating agencies in New York at the […] April 21, 2025
Real Estate Istanbul needs more houses as Turkey’s largest city grows Istanbul, Turkey’s largest city, will need 122,000 new homes every year to support its growing population, a PwC report has said. The city will need 1.22 million houses over the next 10 years with the population expected to rise by 3 percent to 16.2 million by 2034, Hurriyet Daily newspaper reported, citing PwC Turkey. The […] April 21, 2025
Tourism Turkey takes the plunge into swimming tourism Blue water swimming enthusiasts drawn to the Bosphorus and Dardanelles straits are providing a boost to the economy April 18, 2025
Banking & Finance Turkey raises interest rates for first time in a year Turkey’s central bank raised its key lending rate for the first time in a year on Thursday, reversing a steady decline this year, on concerns of higher inflation in the coming months. The bank’s monetary policy committee (MPC) increased its one-week repo auction rate to 46 percent on April 17 from 42.5 percent, the rate […] April 18, 2025
Oil & Gas Turkey’s largest refiner buys Russian oil after price drop Turkey’s largest oil refiner Tupras has returned to buying Russian Urals crude cargoes, after it stopped doing so earlier this year due to stronger US sanctions on Moscow, according to three trading sources and shipping data. Tupras did not immediately reply to a Reuters request for comment. The three sources said Tupras resumed its purchases […] April 17, 2025
Trade Egypt targets 15% trade growth with Tunisia Egypt has set a target to increase trade with Tunisia by 15 percent as it seeks to develop regional economic ties. Trade between the two countries, both of which are subject to reform programmes overseen by the International Monetary Fund, is expected to reach $485 million in 2025 from $421 million in 2024. The plan […] April 21, 2025
Economy Egypt cuts interest rates for first time in 5 years Egypt’s central bank lowered overnight interest rates by 225 basis points (bps) on Thursday, its first cut in more than five years, saying lower inflation had opened the way to yet further rate cuts in the future. The bank lowered the lending rate to 26 percent and the deposit rate to 25 percent. The median forecast in […] April 18, 2025
Finance Remittances to Egypt rise as reforms instill confidence Remittances from Egyptian expatriates rose for 11 consecutive months following the start of economic reforms introduced in March 2024. Overseas Egyptians sent home $20 billion between July and January — the first seven months of the 2024-2025 fiscal year — an increase of 81 percent from $11 billion a year ago, according to the Central […] April 17, 2025
Renewable Energy Egypt’s largest wind farm begins operations ahead of schedule Egypt-listed Orascom Construction has commenced commercial operations at the newly expanded Red Sea wind farm six months ahead of schedule. The largest operational wind farm in Africa is being developed by the Red Sea Wind Energy consortium under a 25-year build-own-operate scheme, the company said in a statement. The alliance comprises France’s Engie (35 percent), Orascom […] April 16, 2025
Economy Qatar to invest over $7bn in Egypt’s economy Qatar has pledged to invest $7.5 billion in Egypt as the North African country seeks to attract new money and boost economic growth, the countries said in a joint statement. The commitment was given during a meeting between Egypt’s President Abdel Fattah El-Sisi and Qatar’s Emir Sheikh Tamim Bin Hamad A-Thani, the state-owned State Information […] April 15, 2025
Education Education sector in UAE ripe for more M&A deals Mubadala is the latest big name to announce a foray into the UAE’s $7 billion education market as experts predict an increase in mergers and acquisitions in the sector, fuelled by the Gulf state’s rising population, economic diversification and expatriate demand. The Abu Dhabi sovereign wealth fund has more than $300 billion in assets under […]
Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […]
Sustainability Real-time pollution tracking to help clear the air in Abu Dhabi Abu Dhabi has invited companies to bid for a contract to develop a “digital twin” focused on real-time monitoring of air quality in a desert region that is among the dustiest in the world. A digital twin is a virtual representation of an object or system designed to accurately reflect a physical object, in this […]
Analysis Logistics Fujairah’s grand plan could fall victim to tariff shock The emirate of Fujairah’s plans to expand its storage facilities and develop cleaner fuels and petrochemical production may be delayed as a result of the impact of tariff-led global trade tensions, according to a local authority. After Singapore and Rotterdam, Fujairah is the largest so-called “bunkering”, or ship-fuelling, port. It lies almost immediately outside the […]
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 […]
Opinion Media & Advertising Dubai chocolate is the golden ticket of city branding Food is part of a place's cultural identity. Plenty of cities and countries have dishes associated with them
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 Food & Drink Saudi Arabia’s expanding food sector faces high costs As the population grows and the economy swells, the food and beverage service industry in Saudi Arabia is expanding. Half Million, a coffee shop chain that started in the capital Riyadh in 2018, now operates 59 stores across the kingdom. Its 60th recently opened on London’s Oxford Street. Barn’s, a Jeddah-based coffee chain that already […]
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 […]
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 […]
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 […]
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 […]
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
Banking & Finance Warburg Pincus and Adia to invest $877m in Indian bank India’s IDFC First Bank will raise up to 75 billion rupees ($877 million) from affiliate companies of private equity group Warburg Pincus and the Abu Dhabi Investment Authority sovereign wealth fund, the lender said on Thursday. IDFC First Bank will issue Warburg Pincus, an existing investor, and Adia convertible shares, which, if fully converted, will give them a combined 15 percent […]
Food & Drink UK company enters Dubai’s crowded rapid-delivery market Despite the congestion – in the market and on the streets of the UAE’s most populous city – yet another competitor, UK company Zapp, is entering Dubai’s rapid-delivery market. This is evidence there is still room for growth, analysts say. Zapp focuses on rapid grocery deliveries from its own so-called dark stores. A dark store is […]
Renewable Energy Chinese company to build $200m wind turbine plant in Oman China’s Shanghai Electric Wind Power Group has signed a $200 million agreement to build a wind turbine factory in Oman’s central industrial city of Duqm. Duqm, which sits on international shipping routes, has attracted over $15 billion in project spending, including a 230,000 barrels per day oil refinery, a crude oil storage facility, a free […]
Finance Indonesia and Qatar to set up $4bn joint fund Indonesian sovereign wealth fund Danantara Indonesia and Qatar Investment Authority will set up a joint fund worth $4 billion to invest in so-called domestic priority sectors in the southeast Asian country. These include food and energy security, downstream processing, digital infrastructure, healthcare and tourism, Indonesian state-run Antara news agency reported, quoting Danantara chief investment officer […]
