Gold extended a rebound after a speech by US Federal Reserve Chairman Kevin Warsh dampened speculation the central bank may hike interest rates this year to tackle inflation.
L’imad, Abu Dhabi’s sovereign wealth fund, has acquired a 35 percent stake in Limagrain Vegetable Seeds (LVS), a division of French cooperative and seed group Limagrain. The transaction was initially
London-based Revolut has finally received regulatory approval to operate in the UAE. This is good news for consumers who have had to put up with flabby foreign exchange rates and high charges – see be
Saudi Arabia has launched an auction for mining exploration rights across three mineral-rich belts spanning 13,000 square kilometres. The three belts are Ad Duwayhi, Sukhaybarat/Al-Safra and Al-Nuqrah
Omani proposals for a voluntary service-cost mechanism under which the sultanate and Iran would oversee navigation through the Strait of Hormuz are being reviewed by the US. The proposals, delivered t
Oman will subsidise half of the transport and insurance costs for food imports over the next six months, aiming to strengthen security of supply and shield consumers from higher prices as a result of
Brent holding $80-85 range. OPEC+ discipline intact through Q3. Non-OPEC supply growth slowing. Asian demand forecast revised up 0.4% by IEA.
GCC bank profits up 18% YoY. NIMs stabilizing. Loan growth strongest in Saudi (22%) and UAE (16%). DIFC: 47 new fintech licenses Q1.
Dubai residential transactions hit AED 42B in April — monthly record. Saudi giga-project awards reached $18B Q1.
Gulf VC: $1.2B across 84 deals Q1. Saudi startups 37% of total. Fintech and logistics lead. 3 deals above $50M in Riyadh.
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