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Ismael Al-Hinti of the Al Hussein Technical University in Jordan, says that universities have to evolve Video length: 04:45

Universities have to change to bridge the skills gap

Education in the Mena region must transform to reflect the changing market, according to experts. Ismael Al-Hinti, president of Al Hussein Technical University in Jordan told AGBI that young people entering the jobs market in the region face a skills mismatch, with unemployment rates highest among the most educated. The answer, according to Al-Hinti, is […]

Omani tourism struggles against fierce Gulf competition

Oman’s tourism industry is struggling, at least in comparison with its Gulf neighbours. Last year visitor numbers fell by almost 3 percent to 3.9 million, according to Oman’s National Centre for Statistics and Information. That compares with 9 percent increases for Dubai and Saudi Arabia, and a 25 percent rise for Qatar. Bahrain and Kuwait […]

EV maker Lucid’s CEO quits as total losses hit $13bn

Peter Rawlinson, the CEO of the Saudi Arabia-backed electric car maker Lucid Motors, has resigned after the Californian company’s total accumulated losses rose to almost $13 billion. Earlier this week, Lucid announced that its losses in 2024 were up almost 11 percent to $3.1 billion, from $2.8 billion the year before. Shares in Lucid, which […]

Gulf CEOs urged to conquer fear of earnings call

Earnings calls for analysts, reporters or investors are a staple for listed companies in Western markets. The same is not true in the Gulf, however, and experts say that can make it harder to assess a company’s performance and justify its stock valuation. It can also deter institutional investors, limit liquidity and slow market growth. […]

Egypt’s gas industry caught in vicious circle as demand rises

Egypt’s gas industry is caught in a vicious circle. The country uses natural gas to generate almost 80 percent of its electricity, according to the International Energy Agency, and Globalpetrolprices.com says Egyptian households pay less than EGP1 ($0.02) per kilowatt hour. Demand for power and therefore for gas is surging at a time when production […]

UAE latest

UAE dividends: As well as looking for high yields, investors prioritising dividends should target companies with explicit dividend policies, experts say

Blue chip dividend yields in UAE beat US and Europe

Most UAE blue chip stocks provide much higher dividend yields than their counterparts in Europe and the United States, an AGBI analysis shows. The top 20 largest listed UAE businesses, excluding two non-dividend paying companies, offer an average dividend yield of 4.7 percent.  This is almost 60 percent better than the average yield of 1.9 […]

Ships in the Port of Osaka. Adnoc will ship up to 800,000 tonnes of LNG to Osaka Gas

Adnoc Gas to supply LNG to Osaka

Abu Dhabi’s state-owned Adnoc Gas has signed a fourth sales and purchase agreement for its Ruwais liquefied natural gas project, which is under development at Al Ruwais Industrial City. Adnoc Gas signed the 15-year contract with one of Japan’s utility companies, Osaka Gas, to supply up to 800,000 tonnes of LNG per year, Adnoc said […]

2PointZero expects opportunities for growth in Asia, Latin America and Africa, said CEO Mariam Almheiri

IHC’s $27bn holding company aims for Abu Dhabi listing  

2PointZero, a newly established UAE investment platform with assets from mines to financial services, is targeting a stock market listing in Abu Dhabi this year, CEO Mariam Almheiri said on Wednesday, according to the Reuters news agency. Last year, Abu Dhabi conglomerate International Holding Company (IHC) established 2PointZero as a holding unit with more than […]

Ismael Al-Hinti of the Al Hussein Technical University in Jordan, says that universities have to evolve Video length: 04:45

Universities have to change to bridge the skills gap

Education in the Mena region must transform to reflect the changing market, according to experts. Ismael Al-Hinti, president of Al Hussein Technical University in Jordan told AGBI that young people entering the jobs market in the region face a skills mismatch, with unemployment rates highest among the most educated. The answer, according to Al-Hinti, is […]

Burjeel Abu Dhabi

Burjeel wins Abu Dhabi healthcare contract

The UAE hospital operator Burjeel Holdings has won a contract from Abu Dhabi worth AED225 million ($61 million) to manage and develop healthcare facilities in the emirate and in Africa. Burjeel will operate five clinics in the cities of Abu Dhabi and Al Ain, and develop a new one in Al Wathba, about 20km south […]

Saudi Arabia latest

Barloworld is the official distributor for Caterpillar construction equipment in South Africa

Barloworld rejects Zahid’s $1.25bn takeover bid

Shareholders at South African construction equipment company Barloworld have voted against a takeover offer by Saudi company Zahid Group. The Jeddah-based conglomerate offered to buy shares of the South African listed company at 120 rand ($6.50) apiece, valuing it at around $1.25 billion. The deal failed to secure the majority required, Barloworld said in a […]

Italian company Leonardo designs and produces 14 percent of the Boeing 787 Dreamliner, the world’s first airliner to make large-scale use of composite materials

PIF weighs investment in Boeing’s Italian parts maker

Saudi Arabia’s Public Investment Fund (PIF) is holding talks about investing in the aerostructures unit of Italian defence company Leonardo, a news report said. The talks are at an early stage with no agreement guaranteed, Bloomberg reported. The investment could lead to the Italian company building a civil aviation manufacturing plant in Saudi Arabia, the […]

Customers use cash dispensers in Istanbul. The Institute of International Finance says 'many emerging markets have experienced a marked deterioration in their debt-carrying capacity'

Turkey, Saudi and other emerging markets take on $4.5trn of debt

Emerging markets took on $4.5 trillion of debt last year, according to the Institute of International Finance, and Saudi Arabia and Turkey were among the biggest borrowers. Global debt increased by nearly $7 trillion to $318 trillion in 2024, the highest figure on record, the Washington-based institute said in a report shared with AGBI. Emerging […]

Around the Middle East

Iceye engineers working on a satellite. The company is reporting a 'lot of demand' in the Gulf

Why Gulf demand for satellites is taking off

Man has gone there before, but for the Gulf Arab states the space race is only just picking up. Led primarily by the UAE and Saudi Arabia, Middle Eastern countries have spent $25 billion on satellites and other space projects and equipment over the past decade. That number is expected to triple to $75 billion […]

Qatar Airways' stake in Virgin Australia will challenge the dominance of Australia's national carrier Qantas

Qatar Airways gets nod to buy 25% of Virgin Australia

The Australian government has cleared an offer by state-backed Qatar Airways to acquire a minority 25 percent stake in Virgin Australia from Bain Capital, a US private equity company, the companies said in a statement.  The Gulf carrier made the offer to buy the stake in October, but the Australian transport minister, Catherine King, rejected […]

Some parts of Hyundai Rotem's new trains will be manufactured in Morocco

Morocco to get double-decker trains ahead of World Cup

Hyundai Rotem, South Korea’s railway rolling-stock maker, will supply double-decker trains to Morocco’s state-backed National Railway Office (ONCF), as the country prepares to co-host the football World Cup in 2030. The contract, valued at  MAD15 billion ($1.5 billion), will support the modernisation of the country’s rail network.  The new trains are designed to reach speeds of […]

The US is likely to pump more oil under Donald Trump's presidency

Investors may shun Gulf as oil prices fall, BoA says

President Donald Trump’s “drill, baby, drill” push to increase US oil production and potentially drive lower prices could dampen investor appetite for Gulf Arab markets, according to the Bank of America. Saudi Arabia, the world’s second-largest oil producer, has been on a marketing blitz in the US this past week, hosting an investor conference in […]

Iraq banknotes digital currency

Iraq plans digital currency to replace paper notes

Iraq’s central bank is planning to issue its own digital currency to gradually replace local paper notes. The country’s central bank governor Ali Al-Allaq told a local press conference in Baghdad that the new currency is part of “radical” changes in the global financial and banking system. “These changes include the decline of paper notes […]

A man delivers water by truck in Wadi Rum, Jordan. The country is one of the most water-stressed in the world, according to the World Bank

Water projects take priority in Jordan’s PPP pipeline

Jordan is planning to launch public-private partnerships (PPP) valued at more than $1 billion this year – and that figure may soon rise to $2 billion, according to an official. Hamza Alhajaya, head of Jordan’s PPP unit, told AGBI that Jordan is already expecting to publish tenders for seven projects in 2025 worth a total […]

The absence of earnings calls 'may discourage investors from buying' a Gulf stock, says one analyst

Gulf CEOs urged to conquer fear of earnings call

Earnings calls for analysts, reporters or investors are a staple for listed companies in Western markets. The same is not true in the Gulf, however, and experts say that can make it harder to assess a company’s performance and justify its stock valuation. It can also deter institutional investors, limit liquidity and slow market growth. […]

A family visits Rustaq Fort in northern Oman. The country's tourism strategy focuses on its historic sites

Omani tourism struggles against fierce Gulf competition

Oman’s tourism industry is struggling, at least in comparison with its Gulf neighbours. Last year visitor numbers fell by almost 3 percent to 3.9 million, according to Oman’s National Centre for Statistics and Information. That compares with 9 percent increases for Dubai and Saudi Arabia, and a 25 percent rise for Qatar. Bahrain and Kuwait […]

Topics:

Turkey Latest

Customers use cash dispensers in Istanbul. The Institute of International Finance says 'many emerging markets have experienced a marked deterioration in their debt-carrying capacity'

Turkey, Saudi and other emerging markets take on $4.5trn of debt

Emerging markets took on $4.5 trillion of debt last year, according to the Institute of International Finance, and Saudi Arabia and Turkey were among the biggest borrowers. Global debt increased by nearly $7 trillion to $318 trillion in 2024, the highest figure on record, the Washington-based institute said in a report shared with AGBI. Emerging […]

US senator Chuck Schumer pictured in New York last month speaking to the media about egg prices. Turkey exported 200,000 tonnes of eggs to 55 countries in 2024

Turkey meets US egg demand with increased exports

Turkish producers are redirecting egg exports to the US in response to an outbreak of avian flu which is crippling the US poultry sector.  The increased US sales could mean Gulf countries will shell out more for their breakfast staple. The Turkish government has given egg producers approval to increase US sales, with the packaged […]

A Ciner freighter at anchor near Vancouver. The shipping line operates 24 vessels

Turkey’s Ciner Shipping packs up and moves to Athens

One of Turkey’s largest shipping companies is moving its headquarters to Athens, the latest in a string of Turkish businesses to take advantage of Greece’s EU membership and what they say is a more investment-friendly environment.  Ciner Shipping issued a statement on February 21 saying it was shifting its base from Istanbul. Its Turkish staff […]

Turkish industrial capacity: The food and beverage sector was one of the few to post increased capacity usage

Turkish industrial capacity use falls again

The level of Turkish industrial capacity in use fell in February, continuing a trend of slowing activity in the country’s factories for a third month.  Less than three quarters of Turkey’s industrial capacity was operational in February, according to data issued by the Turkish Central Bank’s statistics unit on February 24. The 74 percent total […]

Cruise ships docked at the busiest Turkish port, Kusadasi. Almost 1 million passengers are expected this year

Turkish cruise industry expects a bumper 2025

Cruise port operator Global Ports Holding is expecting a successful year for passenger numbers in Turkey this year, driven by new winter cruises and disruptions to competing destinations in the eastern Mediterranean. Worth $3 billion in revenue to Turkish port operators in 2023, cruise ship traffic is a vital source of income to Global Ports, […]

Egypt Latest

The wage increase is part of the EGP200 billion social support package unveiled by Prime Minister Mostafa Madbouly

Egypt unveils sizeable social package with wage hike

Egypt will increase minimum wages for public sector employees to EGP7,000  ($139) per month starting in July, aligning with a similar hike for the private sector this month, according to local media. The wage increase is part of the EGP200 billion ($4 billion) social support package unveiled by Prime Minister Mostafa Madbouly, the local media reported. […]

Last year, 1,500 Egyptian companies moved their headquarters to Abu Dhabi, billionaire Naguib Sawiris said

Billionaire calls for review of Egyptian mega-projects

Egyptian billionaire Naguib Sawiris said his country’s mega-projects should be reconsidered to save money as they require a lot of foreign currency. “I will be polite and I would say we have an overambitious president who is doing mega projects that are requiring a lot of foreign currency and we should have a second look […]

The Egypt pavilion at Dubai Expo 2020. The UAE was Egypt's biggest international investor in 2024

Egypt tops Arab list for international project investment

Egypt received more international project investment than any other Arab country in the first 11 months of last year, with the UAE the biggest international investor. Egypt, the third largest Arab economy after Saudi Arabia and the UAE, attracted almost $30 billion in 122 international projects, equivalent to a third of all such projects in […]

Architecture, Building, Indoors

Egypt bets on $1bn Grand Museum to boost tourism

Egypt’s tourism sector will get a major boost with the opening of a $1 billion antiquities museum following decades of development. The Grand Egyptian Museum, which is located nearly 2km from the Giza Pyramids, will open on July 3, Bloomberg reported, quoting prime minister Mostafa Madbouly. The museum, construction of which started in 2005, is expected […]

The remittance surge was driven by Egypt's economic reforms introduced in March 2024 and the flexible exchange rate regime

Expat remittances to Egypt up by a half to $30bn in 2024

Expatriate remittances to Egypt, a critical source of foreign exchange, jumped 52 percent year on year to $30 billion in 2024, according to the central bank. The surge was driven by economic reforms introduced in March 2024 and the flexible exchange rate regime, the government-run State Information Service reported. Remittances rose to $3.2 billion in […]

Features

How Qatar escaped a World Cup property glut

Three years on, it is clear that Qatar has by and large avoided what plagued many of its World Cup host predecessors – the big White Elephant. In spite of a rush of building projects to open a slew of new hotels and apartments for the November-December 2022 event, the gas-rich nation was shrewd enough […]

Red Sea attacks put security spotlight on vital subsea cables

What do Houthi attacks on shipping in the Red Sea, a new data centre in Saudi Arabia and the icy waters of the Baltic Sea have in common? In short, they reflect a new Gulf Arab, and indeed global, focus on protecting vital submarine cable networks and potentially developing alternative, terrestrial routes. The Yemeni militia’s […]

UAE pension plans aim to ease end-of-service headaches

Pensions are a headache for governments, companies and employees alike. How to provide staff with a comfortable retirement that could last for decades? Historically, staff leaving UAE companies receive a substantial one-off payout from their employer, the amount increasing significantly the longer the period of service. But this “defined benefit” system can cause financial difficulties […]

People & Lifestyle

Restaurant costs: Dubai was named as one of the most expensive cities in the Middle East for expatriates in a survey last year

Dubai restaurants risk out-pricing customers on alcohol costs

The cost of eating out in Dubai’s restaurants is rising, especially if you’re washing your meal down with an alcoholic drink. Last year, Dubai was named the third-most expensive city in the world for a half-litre of draught beer at an average of $10.89, according to price comparison website Numbeo. Qatar was number one, followed […]

A tourist takes pictures in Chefchaouen, northern Morocco. The country's tourism startup culture is opening new markets beyond the traditional centres

Moroccan tourism startups build momentum ahead of World Cup

Startup innovation and entrepreneurship are helping to fuel growth in Morocco’s tourism industry. The sector’s importance to the economy is increasing as the country prepares to co-host the Fifa World Cup in 2030. Morocco welcomed 17.4 million international tourists in 2024, a 20 percent increase on 2023, the latest data from the UN World Tourism […]

A survey found that only half of Gulf respondents managed to sleep the recommended six to eight hours per night

Tech specialists tap into Gulf’s market of the sleep deprived

People in the Gulf are among the worst sleepers in the world, research has found – and that makes the region a rousing proposition for sleep-aid businesses such as the US pair Whoop and Eight Sleep. A survey of 2,727 people across the GCC, published last month, found that only half manage to sleep for […]

Shoppers in Dubai Mall. Retail price discounting in the UAE has been described by one analyst as 'a race to the bottom'

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 […]

Around the world

The project in the Uttar Pradesh town of Unnao includes the development of a 1 million tonne aquafeed plant to supply India's growing aquaculture sector

UAE’s Aqua Bridge to build aquaculture farm in India

A UAE aquaculture company linked to the ruling Al-Maktoum family of Dubai has agreed to develop an aquaculture farm and research centre in the Indian state of Uttar Pradesh at an initial cost of $461 million. Aqua Bridge Group, whose chairman is Sheikh Ahmed bin Mana bin Khalifa Al-Maktoum, said the partnership project in the […]

Donald Trump spoke at the FII summit on Wednesday

InvestSaudi to open second US office in Miami

Saudi Arabia’s investment promotion authority, InvestSaudi, will establish its second office in the United States in Miami to target flows to and from North and South America. Khalid A. Al-Falih, the Saudi investment minister, made the announcement on Thursday at the Future Investment Initiative summit in the South Florida city. “By selecting Miami as our […]

Brazil Opec

Brazil joins Opec+ oil producers’ group

Brazil, the largest oil producer in South America, has officially joined the Opec+ group of more than 20 countries that attempts to manage global oil output. The participation formalises an initial announcement in November 2023, a statement by Opec said. Brazil’s membership will be limited to the Opec+ Charter of Cooperation, a permanent forum between […]

Airport, Airfield, Blazer

Australia likely to approve Qatar Airways-Virgin deal

The Australian Competition and Consumer Commission (ACCC) is leaning towards approving a five-year deal between Qatar Airways and Virgin Australia, allowing them to sell long-haul return flights starting in June, the watchdog said. The approval, if granted, will allow the two airlines to commence 28 new weekly return flights between Doha and Perth, Brisbane, Sydney and Melbourne. […]