Banking and Finance

Interview

Gulf real estate investors choose UK over US amid political instability

The London-based lender is seeing an increase in demand from Gulf investors in UK real estate as US markets have become less predictable.

Khaled Alanani

Head of real estate finance and investments, Bank of London and The Middle East

Singapore's DBS Group, Banque Saudi Fransi ink Asia-Gulf trade deal

Trade between Southeast Asia and the GCC reached about $130.7 billion in 2023 and is expected to grow by another $50 billion by 2027, according to the Singaporean lender.

Saudi Arabia

Libyans rush banks amid cash crunch, government to print $11B in dinars to ease crisis

The Libyan Central Bank has been printing more money in response to cash shortages in the country, as falling oil prices and corruption take their toll.

Libya

Somaliland leader courts Ethiopia in recognition push: What to know

Somaliland President Abdirahman Mohamed Abdillahi visited Ethiopia for talks focused on security and economic cooperation as the Somali breakaway territory seeks global recognition.

Somalia

Hong Kong exchange expands Gulf presence with new Dubai commodities arm

The emirate has positioned itself as a global commodities trading hub, with the UAE ranking second globally after the US in last year’s Commodity Trade Index.

United Arab Emirates

World Bank ups Middle East 2025 economic outlook as oil, tourism rebound

The lender expects gross domestic product growth in the region to average 2.8% this year, up from its April forecast of 2.6%.

Iran

Supreme Court clears path for Turkey’s Halkbank trial over Iran sanctions

The Turkish president personally raised the Halkbank case with US President Donald Trump at the White House, as Ankara pushes for a settlement to avoid a drawn-out legal battle.

Turkey

Culture

Marrakech's African Contemporary Art Museum reinvents itself two years after quake

Marking the two-year anniversary of the 2023 earthquake, Marrakech’s Museum of African Contemporary Art highlights the city’s recovery and its growing role as a hub for African art.

Morocco

Blackstone, Abu Dhabi's Lunate set up $5B GCC logistics investment platform

The new platform will capitalize on the growing logistics sector in the Gulf.

United Arab Emirates

PayPal, UAE's DP World sign MoU to speed digital payments

Under the agreement, international transactions are expected to be executed in minutes rather than take up to a week.

United Arab Emirates

UAE wealth fund ADIA scoops into $18B Haagen-Dazs owner Froneri

The UAE sovereign wealth fund has become a co-investor in Froneri in a deal valuing the global ice cream firm at about $18 billion.

United Arab Emirates

What’s next for Saudi Arabia’s budget balancing act as deficit doubles?

The Gulf state now expects a deficit of $65.3 billion in 2025 — more than double the initial forecast — as the kingdom continues heavy spending amid weak oil prices.

Saudi Arabia