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 […]
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 […]
The rocky hills of western Saudi Arabia hide huge wealth, prospectors insist. The crags and crevices are part of the Arabian-Nubian Shield, an exposed Precambrian rock formation which runs from the west of the kingdom across the Red Sea to eastern Egypt and Sudan. The government estimates total mineral wealth at $2.5 trillion, more than […]
Opinion
Gaming
Recognising gaming’s growing influence, Saudi Arabia has positioned itself at the forefront
Opinion
Oil & Gas
AI can do a lot for the energy industry – the flip side is what the energy industry can do for AI
Opinion
MEDIA
The stewards of food production will soon reach retirement age. This is where AI can come in
Trading on Saudi Arabia’s bourse has changed little this Ramadan as the growing influence of institutional and professional traders offsets the impact of a decline in retail investor activity. Historically, Gulf nationals have been the dominant force on the region’s stock markets. Individuals often meet at the bourses to trade and socialise. Such habits would […]
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 […]
At least five multi-billion dollar projects to bring up to 24 gigawatts of solar and wind power energy from sunny North Africa to chilly Europe, assisted by Gulf investment money, are currently being planned. But these ambitious schemes to reduce Europe’s reliance on fossil fuels generally, and energy supplies from Russia specifically, all face major […]
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 […]
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 […]
Jonathan Fulton, Zayed University
An increasing number of Turkish citizens are investing in real estate overseas, with Dubai and Greece emerging as top destinations, according to a news report. Last year, Turks spent more than $2.5 billion, up 21 percent year on year, in foreign property purchases, Daily Sabah newspaper reported, citing central bank data. In January 2025 alone, […]
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 […]
Abu Dhabi conglomerate International Holding Company (IHC), New York-based Alpha Wave Global and Singapore sovereign wealth fund Temasek have invested in an Indian snack maker as part of an equity financing round, PwC, the financial advisor to the deal, said in a statement. Indian government-owned Press Trust of India (PTI) reported that IHC and Alpha Wave collectively acquired […]
US President Donald Trump said on Monday he plans to visit Saudi Arabia as early as May to sign an investment agreement in what will be the first foreign trip of his second term, with stops also planned in Qatar and the UAE. “It could be next month, maybe a little later,” Trump told reporters […]
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 […]
No longer a niche sector, gaming is driving the evolution of other cultural fields
The rocky hills of western Saudi Arabia hide huge wealth, prospectors insist. The crags and crevices are part of the Arabian-Nubian Shield, an exposed Precambrian rock formation which runs from the west of the kingdom across the Red Sea to eastern Egypt and Sudan. The government estimates total mineral wealth at $2.5 trillion, more than […]
Saudi low-cost carrier Flynas has received the market regulator’s approval to offload nearly a third of its shares on the local stock exchange in the latest of a series of bourse flotations. The airline, partly owned by billionaire Prince Alwaleed Bin Talal, will sell 51.3 million shares or 30 percent of its stock in an initial public […]
Oil producer Saudi Aramco kept April official selling prices (OSPs) for liquefied petroleum gas (LPG) unchanged from March, while Algeria’s Sonatrach cut its OSPs by 2-7 percent due to weaker demand in the Mediterranean, traders said on Monday. Aramco’s April OSP for propane was stable at $615 per metric tonne, while butane was $605 per tonne, […]
US President Donald Trump said on Monday he plans to visit Saudi Arabia as early as May to sign an investment agreement in what will be the first foreign trip of his second term, with stops also planned in Qatar and the UAE. “It could be next month, maybe a little later,” Trump told reporters […]
Oman says nearly RO5 billion ($12 billion) was pumped into its hydrocarbon sector last year as it pushed ahead with plans to expand production capacity and boost reserves. By the end of 2024, cumulative investment in the sultanate’s hydrocarbon industry totalled around RO24 billion ($62 billion), up from RO19 ($50 billion) at the end of […]
The second phase of a Jordan-Iraq electricity interconnection project is set for completion by the end of July, a news report has said. Almost 95 percent of the project’s civil works have been finalised, with installation of electrical equipment and essential testing remaining, Jordan News Agency reported citing Sufyan Batayneh, director general of the state-run […]
Minerals Development Oman (MDO) is moving ahead with mining projects to exploit the sultanate’s reserves of titanium, copper, chromite and dolomite, according to the state-owned company’s annual report. Nearly 30 percent of engineering work has been completed at the Mazoon Copper project, which was launched last year, the company said in the 2024 report. Tenders […]
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 […]
Oil prices held near one-month highs on Friday and were poised for a third weekly gain on a tightening global supply outlook after the US imposed tariffs against countries buying oil and gas from Venezuela and placed restrictions on Iranian oil trade. Brent crude futures dipped 8 cents, or 0.1 percent, at $73.95 a barrel as […]
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 […]
Companies from the UK were once again the biggest source of foreign direct investment to Oman last year, with FDI focused primarily on oil and gas, Oman government data show. UK companies pumped nearly OR2.85 billion ($7.4 billion) into the sultanate last year, making them accountable for more than half the cumulative stock of FDI, […]
Lebanon needs a comprehensive strategy for rebooting its economy in order to access a programme with the International Monetary Fund, with stress on data transparency, the IMF said on Thursday. “First and foremost, what is needed is a comprehensive strategy for economic rehabilitation,” said spokesperson Julie Kozack in a press briefing. She confirmed that the […]
An increasing number of Turkish citizens are investing in real estate overseas, with Dubai and Greece emerging as top destinations, according to a news report. Last year, Turks spent more than $2.5 billion, up 21 percent year on year, in foreign property purchases, Daily Sabah newspaper reported, citing central bank data. In January 2025 alone, […]
Turkey’s government has approved a series of projects designed to boost the country’s self-sufficiency in renewables technology – and lay the groundwork for exports. Last week, as protests continued in Istanbul and interest rates spiralled, Mehmet Kacır, Turkey’s industry and technology minister, announced that five private sector businesses – Alfa Solar, Astroenergy, CW Solar Cell, […]
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 […]
Turkey plans to float a tender for a new rail project that is part of the Development Road Project, a new freight link planned between Asia and Europe, according to a news report. The tender will be issued in the coming months, Daily Sabah newspaper reported, citing transport and infrastructure minister Abdulkadir Uraloğlu. Ankara is […]
Turkey’s startups bucked global trends in 2024, posting significant increases in the number of transactions and volumes. Despite the current political turmoil, further growth is forecast for the year ahead. There were 331 transactions recorded last year, compared with 297 in 2023, according to a recent report by financial services firm KPMG. Value increased by […]
At least five multi-billion dollar projects to bring up to 24 gigawatts of solar and wind power energy from sunny North Africa to chilly Europe, assisted by Gulf investment money, are currently being planned. But these ambitious schemes to reduce Europe’s reliance on fossil fuels generally, and energy supplies from Russia specifically, all face major […]
A joint venture between Abu Dhabi-listed Modon Holding and Egypt’s Elsewedy Industrial Development is planning to build a new industrial zone near the $35-billion Ras El Hekma megaproject. The two companies have signed a letter of intent for the project, state-run news agency Wam reported. The 10 million sq m new industrial zone, located south […]
Egypt’s cabinet approved an EGP4.6 trillion ($91 billion) draft state budget for the 2025/26 financial year that will begin in July, a government statement said on Wednesday, as it continues to tighten its finances under an International Monetary Fund programme. Expenditures will rise by 18 percent and revenue by 19 percent over the current 2024/25 […]
Egypt is expected to sign a memorandum of understanding with the European Union (EU) on previously agreed financing worth €4 billion ($4.3 billion) in the second half of the year, planning minister Rania Al-Mashat said on Wednesday. The financing is part of a €7.4 billion funding package agreed between Egypt and the EU in March […]
Egypt’s current account deficit more than doubled in the first quarter of the current fiscal year and the gap is expected to widen further, a Kuwaiti bank says. Key factors for the massive deficit include a surge in imports and lower Suez Canal revenues due to regional tensions, National Bank of Kuwait (NBK) said in […]
Shares in Kuwaiti banks are hitting new highs as investors bet on a long-mooted change in the law on mortgages coming into force soon and spurring a boom in property financing. However, analysts are warning that the sector’s equity rally may prove unjustified, with any earnings windfall unlikely to be as substantial as those enjoyed […]
Sharp frosts in important agricultural districts in Turkey’s south have wrought havoc on citrus production, with some regions reporting losses of up to 80 percent. Long-term damage to plantations is adding to the problems of an industry already struggling with climate change. Temperatures fell well below zero over a series of nights in the normally […]
Kuwait’s stock market is the Gulf’s top performer this year as local and foreign investors bet that economic reforms and increased infrastructure spending will bolster corporate profits. Investors seem more confident Kuwait will make good on its long-awaited plans following the suspension of parliament last May. Parliament and the government were often at loggerheads, derailing […]
Egypt's portfolio of multilateral trade deals includes the largest continental free trade agreement in the world. We look at how it can do more business in Africa – a market of 1.5 billion people
Global investors are increasingly vying for stakes in later-stage Gulf startups, betting on the region’s economic expansion and stronger exit opportunities, as the regional IPO markets gain momentum. The region, long overlooked for growth-stage capital – minority investments in established companies aimed at accelerating expansion – is witnessing a surge of interest from giants such […]
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 […]
Hotel owners in the Gulf are increasingly choosing franchise agreements with international hotel brands over the less profitable direct management route, industry experts and analysts say. This is especially true in the UAE and Saudi Arabia where the hotel industry is maturing and hotel owners know their business better, driving them to manage their own […]
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 […]
As airlines prepare to switch timetables, the Gulf looks set for growth, new routes and cautious optimism
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) […]
The 150 lots will feature everything from Picasso to Hermès handbags, at prices up to $1.5m
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 […]
It might not have the glamour of the Palm but JVC has its own enduring appeal and was Dubai's busiest location for ready-home sales in 2024
Saudi Aramco is in talks to invest in two planned refineries in India as the world’s top oil exporter looks for a stable outlet for its crude in the world’s fastest-growing emerging market, several Indian sources with direct knowledge of the matter said. India, the world’s third-biggest oil consumer and importer, wants to become a […]
A sharia-compliant Qatari investment bank has acquired a minority stake in Edinburgh Airport through an infrastructure-focused investment fund. “This investment aligns with the bank’s strategic focus on resilient asset classes and marks the bank’s entry into the global infrastructure investment market,” Lesha Bank said in a press release. Edinburgh Airport, Scotland’s busiest and the sixth […]
The UAE’s sovereign fund Abu Dhabi Investment Authority (Adia) has agreed to buy a significant minority stake in European Camping Group (ECG), a key player in the European outdoor hospitality sector, from private equity company PAI Partners. The deal, expected to close in the second quarter of this year, is subject to regulatory approvals, ECG […]
Kuwait’s public pension fund has accused asset manager Man Group, Swiss bank EFG and others of laundering bribes paid to its late director as a $1 billion trial begins at London’s High Court. The Public Institution for Social Security, which operates Kuwait’s social security and pension scheme, is also suing the estate of Fahad Al Rajaan, its director from 1984 to […]
Download the AGBI app today
