Analysis

From BRICS to dwindling oil revenues, 2024 was mixed year for Gulf

The ongoing conflict in Gaza, big international investment deals, low oil revenue and increased curtailing of democratic rights dominated Gulf politics and economy in 2024

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

UAE energy giant gets green light for $16B takeover of German firm Covestro

ADNOC agreed in October to buy Covestro for 14.7 billion euros (then around $16.3 billion), including its debt, in its biggest-ever takeover.

United Arab Emirates

Mideast merger and acquisition activity hits $36B in 2024 led by UAE, Saudi Arabia

For the first 10 months of the year, merger and acquisition deals in the region reached $36 billion, up by 88% from a year earlier, a Bain & Company report said.

Saudi Arabia

UAE Middle East's most economically competitive country in 2024: IMD

In the IMD World Competitiveness Yearbook 2024, the UAE climbed three places to seventh in the world, out of 67 countries. Saudi Arabia ranked at 16th, Bahrain at 21st, Kuwait at 37th, Jordan at 48th and Turkey at 53rd.

United Arab Emirates

UAE's AMEA Power commissions Egypt's largest solar plant

Egypt's Aswan governorate is set to host the country’s largest solar project in a deal with the Emirati energy firm.

Egypt

Gulf states reach out to new Syrian leaders ahead of Jordan talks: What we know

Bahrain's King Hamad sent a letter to HTS leader Ahmed al-Sharaa, while the UAE has held direct contact with opposition groups. Qatar is set to reopen embassy in Damascus soon.

Syria

UAE to host world's largest production plant for certain bioplastics

The world's largest bioplastic plant will soon become an industry player in Abu Dhabi's free trade zones.

United Arab Emirates

Analysis

Syrian rebel offensive worries Gulf states as they rally around Assad

Most Arab Gulf states have quickly expressed solidarity with Damascus, but the ongoing rebel offensive has caught many by surprise and adds a layer of uncertainty over Arab normalization with Syrian President Bashar al-Assad.

By Giorgio Cafiero

Dubai property market prices to rise further next year, Knight Frank says

Dubai’s real estate market, which has been booming for the last five years, is predicted to soar even higher.

United Arab Emirates

Heineken to draft in Gulf’s first large-scale brewery in Dubai

The Dubai-based brewery will begin construction in late 2025 and has secured all necessary permits, Heineken said in a statement.

United Arab Emirates

ADNOC launches $80B low carbon energy company XRG: What we know

XRG, which will operate separately to ADNOC, is expected to double its asset value over the next decade.

United Arab Emirates

Emirates Airline 'frustrated' at aircraft shortage due to manufacturer delays

Executives at the Middle East’s largest airline have frequently expressed their dismay over delays and uncertainty around the delivery of the Boeing 777-9X jets.

United Arab Emirates