Oil & Gas Saudi Arabia lowers July oil prices for Asia Saudi Arabia, the world’s biggest oil exporter, on Wednesday lowered its July prices for Asian buyers after Opec+ hiked output for a fourth month. However, the price cut was smaller than expected. Saudi Aramco, the country’s state oil company, cut the official selling price for the flagship Arab light crude it sells to Asia for […] June 5, 2025
Opinion Oil & Gas Imagine Texas in Opec+ and you see Kazakhstan’s predicament In energy diplomacy, Astana wants to be a reliable partner to both East and West June 3, 2025
Logistics Oman and Kazakhstan set up logistics and mining companies Oman and Kazakhstan have agreed to set up two companies to widen their investment and economic ties. The agreement was signed during the visit of Oman’s Minister of Finance Sultan Al Habsi in Astana. “These two companies in logistics and mining will widen our investments and economic portfolios as we look to establish common ground […] June 3, 2025
Oil & Gas Turkey buys 30% stake in Azerbaijan gas field State-owned Turkish Petroleum Corporation (TPAO) has reportedly acquired a 30 percent stake in a natural gas field off the coast of Azerbaijan. The other partners are the State Oil Company of the Republic of Azerbaijan (Socar) and British energy major BP, Daily Sabah newspaper reported, quoting energy and natural resources minister Alparslan Bayraktar at the […] June 3, 2025
Agriculture PIF-backed Olam Agri raises nearly $2bn Singapore-based agribusiness Olam Agri Holdings, partially owned by Saudi Arabia’s Public Investment Fund (PIF), has secured $1.85 billion in financing to support its business goals. The dual-tranche conventional and Islamic facility was raised by Olam Global Agri and Olam Global Agri Treasury Pte, two subsidiaries of Olam Agri — which sources, processes, trades and distributes […] June 3, 2025
Markets Hong Kong and Saudi work on cross-border financial products Hong Kong and Saudi Arabia are considering allowing more cross-border financial products as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong on Thursday, the first fixed-income fund listed in the territory to offer such exposure. Apart […] May 30, 2025
Artificial Intelligence Humain to bankroll AI startups with $10bn fund Humain, Saudi Arabia’s state-backed artificial intelligence company, plans to launch a venture capital fund to support the country’s goal of becoming an AI superpower. The Humain Ventures fund will be set up this summer with $10 billion to invest in startups across the US, Europe and Asia, Tareq Amin, CEO of Humain, told the Financial […] May 29, 2025
Leisure & Hospitality China grants visa-free status for all GCC citizens China has implemented a visa-free status for all GCC countries, a Chinese foreign ministry spokesperson has confirmed. “China decided to include more countries in its visa waiver programme and extend the visa-free policy to ordinary passport holders from Saudi Arabia, Oman, Kuwait and Bahrain on a trial basis from June 9, 2025, to June 8, […] May 28, 2025
Renewable Energy Acwa Power enters Malaysia with $10bn investment plan Saudi Arabian energy company Acwa Power and the state-backed Malaysian Investment Development Authority (MIDA) have agreed to collaborate on developing 12.5 gigawatts (GW) worth of green projects in Malaysia by 2040. The initial investment will amount to $10 billion, supporting Kuala Lumpur’s target of increasing its installed renewable energy capacity to 70 percent by 2050, […] May 28, 2025
Analysis Tourism UAE hotels hit by talent crunch as growth outpaces staffing UAE hoteliers are warning of an intensifying shortage of qualified staff as the country’s tourism sector expands. About 809,000 people were employed in hospitality and tourism in the Emirates in 2023 – more than 12 percent of the workforce, according to the latest government data. But relatively high staff turnover and limited investment in training […] May 28, 2025
Health Quadria commits 25% from $1bn healthcare fund to GCC Quadria Capital, a Singapore-based healthcare-focused private equity company, plans to allocate up to a quarter of its latest $1 billion fund to the Gulf Cooperation Council (GCC). “In the GCC, we intend to deploy capital across healthcare infrastructure such as hospitals and clinics, biopharma, diagnostics and digital health,” Quadria Capital partner Sunil Thakur told AGBI […] May 28, 2025
Oil & Gas Iraq’s ‘1.5 million barrels per day’ oil gap Iraq, often identified as a major quota violator in the Opec+ group, is pumping nearly 1.5 million barrels per day (bpd) below its production capacity, an oil official has said. The country has a sustainable output capacity of about 5.5 million bpd but actual crude production is close to 4 million bpd, according to Nizar […] May 27, 2025
Manufacturing China’s ROX Motors to produce EVs in Abu Dhabi Chinese luxury EV maker ROX Motor and Dubai-headquartered W Motors will manufacture electric vehicles in Abu Dhabi as Gulf countries step up efforts to attract automotive manufacturing. The ROX 01, a mid-size combustion-electric SUV, will be made at W Motors’ new facility in the capital city, the companies said in a joint statement. No […] May 22, 2025
Analysis Petrochemicals Trump’s China tariffs give relief to Saudi petrochems Saudi Arabia’s beleaguered petrochemicals industry, especially those that rely on propane gas to make their products, has received some welcome relief from an unexpected source: President Donald Trump and his trade tariffs on China. Trump’s first notable tariff moves against China – the world’s largest importer of propane – came in February. Beijing, which had […] May 21, 2025
Trade Japan is Qatar’s top international investor Japan was the top international investor in Qatar last year, contributing half of its foreign direct investment, official data published this week shows. Tokyo contributed almost $1.4 billion of Qatar’s total FDI in 2024, according to Invest Qatar’s 2024 report. Japan is the world’s second largest importer of liquefied natural gas and Qatar’s second biggest […] May 21, 2025
Oil & Gas Qatar risks losing out to US in Japan LNG sales Liquefied natural gas customers in Japan may be turning away from Qatar for their additional needs in favour of the US. American suppliers offer more flexible contractual terms and are adding production capacity, a Japanese government energy official said. “Qatar is very strict,” said Yarita Masataka, director of the LNG and methane management division at […] May 15, 2025
Oil & Gas Abu Dhabi’s XRG buys stake in Turkmenistan gas block XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has entered the Central Asian market with an investment in Turkmenistan’s gas and condensate fields. XRG will hold a 38 percent stake in the offshore “Block I” concession, the company said in a statement. Malaysian state-owned oil company Petronas and Turkmenistan state […] May 15, 2025
Renewable Energy Oman Centre for Net Zero signs agreements worth $2bn Oman’s energy major OQ has formed a new company called Oman Centre for Net Zero and signed 13 separate renewable-energy agreements worth $2 billion. The agreements were signed during the three-day events of Oman Sustainable Week 2025 Exhibition in Muscat by OQ Group’s CEO Ashra al Mamari and Najla al Jamali, CEO of OQ Alternative […] May 13, 2025
Opinion Markets GCC investors need a multi-currency mindset to survive Investors are scrambling to reduce exposure to erratic US policies May 8, 2025
Trade Malaysia continues GCC trade talks that began in 2011 Malaysian prime minister Anwar Ibrahim has said that talks on closing a free trade agreement (FTA) with the Gulf Cooperation Council are continuing, 14 years after they first began. The deal will deepen commercial partnerships and expand economic growth, Kuwait’s state-run Kuna news agency reported, quoting Ibrahim. The GCC and Malaysia agreed on a trade […] May 7, 2025
Opinion Renewable Energy GCC states bet big on renewables in Central Asia Green energy deals are the foundations for closer trade relationships May 6, 2025
Construction Qatari royal backs Maldives $9bn financial freezone MBS Global Investments and the Maldives government will jointly develop a $8.8 billion Maldives International Financial Centre (MIFC) in the Maldivian capital city of Malé. The freezone will have no corporate tax and tax-free inheritance in a bid to attract digital nomads, entrepreneurs and high net worth individuals. Based in Dubai, MBS Global is the investment […] May 5, 2025
