#Qatar’s $580 Billion Wealth Fund Said to Weigh Radical Overhaul - Bloomberg

Qatar’s $580 Billion Wealth Fund Said to Weigh Radical Overhaul - Bloomberg

The $580 billion Qatar Investment Authority has considered separating its overseas holdings from its domestic portfolio, according to people familiar with the matter, setting the stage for a landmark reshaping of one of the world’s largest wealth funds.

Executives at the QIA have discussed setting up a new entity to house domestic assets worth tens of billions of dollars and develop them into global champions, people familiar with the matter said, declining to be identified as the information is confidential.

The move would enable QIA to better prioritize global investments across a swathe of sectors, the people said, as it prepares for a windfall from an expansion of the country’s gas projects.

Talks are ongoing and no final decisions have been made. Representatives for the QIA declined to comment.

The fund’s Chief Executive Officer Mohammed Al Sowaidi has pledged to invest an additional $500 billion in the US over the next decade, and has recently said the final outlay could be higher. The QIA has ramped up investments in sectors like artificial intelligence, adding to a portfolio that includes stakes in Glencore Plc, Volkswagen AG and RWE AG, as well as London landmarks including the Harrods department store and the Shard skyscraper.

Earlier this week, it agreed to expand its strategic partnership with Goldman Sachs Group Inc. in a move that could see the Qatari investor commit a total of $25 billion with the Wall Street bank’s asset management arm.

Locally too, the QIA is a prolific investor with stakes in firms that touch every corner of the Qatari economy, from the biggest banks and developers to utilities and telecommunications firms. Many of these firms, like the $50 billion Qatar National Bank and Ooredoo QPSC, trade on the Doha bourse.

The moves now under consideration would mirror the creation of Abu Dhabi wealth fund ADQ, which holds local assets including one of the largest health-care providers in the Middle East, a port operator and Etihad Airways. The Emirati investor has spent the past few years building new platforms out of the assets it received from the government in sectors including logistics, energy and food.

Saudi Arabia’s $1 trillion Public Investment Fund is also planning to sharpen its focus on portfolio companies like artificial intelligence firm Humain in coming years, Bloomberg News has reported, with a goal to attract investors and build some of its subsidiary firms into global champions.

#AbuDhabi Folds McLaren, Nio Stakes Into New Investment Fund L’imad - Bloomberg

Abu Dhabi Folds McLaren, Nio Stakes Into New Investment Fund L’imad - Bloomberg

Abu Dhabi has folded the owner of McLaren Automotive and its stake in Chinese electric vehicle maker Nio Inc. into state-owned L’imad Holding Co., indicating a broad remit for the emirate’s newest investment vehicle.

CYVN Holdings LLC, a mobility-focused investment firm owned by the government, has been transferred under L’imad, according to people familiar with the matter. The move is aimed at building up L’imad and simplifying the management of some of Abu Dhabi’s investments by putting them under one roof, the people said, asking not to be identified discussing private information.

A regulatory filing earlier this month showed that the arm of CYVN that houses its 18% stake in Nio is also now owned by L’imad. A spokesperson for McLaren confirmed it will ultimately be controlled by L’imad but said CYVN remains its immediate parent.

Representatives for CYVN, the Abu Dhabi government media office, the emirate’s finance department and L’imad couldn’t immediately be reached for comment. A spokesperson for Nio declined to comment.

L’imad is the latest investing force in Abu Dhabi, the oil-rich capital of the United Arab Emirates that’s home to wealth funds controlling close to $2 trillion in assets.

The new firm burst into prominence late last year, when it joined established Gulf wealth funds to back Paramount Skydance Corp.’s hostile bid for Warner Bros. Discovery Inc. It recently unveiled a board staffed with heavyweight executives and chaired by Abu Dhabi’s crown prince, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

Jassem Al Zaabi, who chairs entities including Abu Dhabi’s Department of Finance and telecommunications group e&, was named managing director and chief executive officer. He will be joined on the board by Mubadala Investment Co. CEO Khaldoon Khalifa Al Mubarak and Deputy CEO Waleed Al Mokarrab Al Muhairi.

L’imad first appeared on the Abu Dhabi scene late last year, after agreeing to buy a controlling stake in Modon Holding PSC — an Emirati property developer with a market value of about $15 billion, from wealth fund ADQ and International Holding Co.

It plans to develop a diversified portfolio across sectors around the world, including infrastructure and real estate, financial services and asset management, advanced industries and technology, urban mobility, and smart cities, according to a statement earlier this month.

Most Gulf markets gain ahead of earnings | Reuters

Most Gulf markets gain ahead of earnings | Reuters

Most stock markets in the Gulf ended higher on Wednesday, as investors turned their attention to upcoming earnings despite lingering global trade and geopolitical concerns.

Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.3%, with petrochemical maker Saudi Basic Industries (2010.SE), opens new tab rising 2.5%.

Oil prices rose as investors assessed a temporary shutdown at two large fields in Kazakhstan, expectations of a build in U.S. crude inventories and fresh concerns tied to U.S. tariff threats in its bid to gain control of Greenland.

Dubai's main share index (.DFMGI), opens new tab rose 0.4%, closing at its highest since April 2006, helped by a 1.5% rise in top lender Emirates NBD (ENBD.DU), opens new tab. India's competition regulator said on Tuesday it had cleared ENBD's acquisition of a stake in RBL Bank (RATB.NS), opens new tab.

In Abu Dhabi, the index (.FTFADGI), opens new tab edged 0.1% higher.

Abu Dhabi sovereign wealth fund Mubadala is targeting opportunities in artificial intelligence and robotics, viewing the sectors as a major source of industrial growth and a guide for future investments, its group CEO said on Tuesday.

The Qatari index (.QSI), opens new tab gave up early gains to finish flat.

Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani said on Tuesday Qatar intends to support local firms in competing internationally, indicating fresh measures in the country's drive to diversify its economy beyond energy.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.3%, hitting a record high.

Analysts have raised their estimates for Egypt's economic growth to 4.9% this fiscal year as reforms taken under an International Monetary Fund programme two years ago bear fruit faster than anticipated, a Reuters poll showed on Tuesday.

#Saudi Bond Borrowing Exceeds $20 Billion to Hit January Record - Bloomberg

Saudi Bond Borrowing Exceeds $20 Billion to Hit January Record - Bloomberg

Saudi Arabia sold more than $20 billion of international bonds since the start of the year, a record for a January as companies and banks join government fund raising.

Banks are increasingly turning to debt markets in response to tightening liquidity conditions, as slowing deposit growth and tougher capital rules make it harder to meet strong credit demand driven by the kingdom’s Vision 2030 agenda. Higher capital requirements due to come into effect this year will force banks to keep more funds on their balance sheets.

Companies are also taking advantage of attractive pricing and rising demand from Asian investors to reinforce their finances.

“Favorable market conditions in terms on rates and spreads, still strong demand and rising Asian investor interest” are among reasons for rising Saudi borrowings, Basel Al-Waqayan, fixed-income strategist at Bloomberg Intelligence, said.

The Saudi government raised $11.5 billion in early January through a dollar bond sale that attracted demand of $28 billion. Saudi Electricity and Saudi Telecom followed with $2.4 billion and $2 billion Sukuk bonds. Saudi National Bank, Riyad Bank and Al Rajhi Bank raised at least $1 billion each.

The kingdom signaled it would slow sovereign international bond sales this year, after years of voracious borrowing appetite which placed it among the heaviest issuers in emerging markets and the largest in the Gulf Cooperation Council.

The finance ministry plans to borrow $14 billion to $17 billion from international markets this year.

Yet Saudi Arabia has a history of overshooting its funding targets. Goldman Sachs Group Inc. predicts the Saudis will issue a record $25 billion of international debt this year.

Goldman Sachs, QIA Target $25 Billion Investment Partnership - Bloomberg #Qatar

Goldman Sachs, QIA Target $25 Billion Investment Partnership - Bloomberg

Goldman Sachs Group Inc. and Qatar Investment Authority have agreed to expand their strategic partnership in a move that could see the sovereign wealth fund commit a total of $25 billion with the Wall Street bank’s asset management arm.

QIA plans to commit the capital to a range of existing and new private market strategies as an anchor investor, as well as direct investment opportunities, according to a statement on Tuesday. Goldman Sachs, which has over $625 billion in alternatives globally, also said it will meaningfully grow its headcount in Doha, with the office becoming a strategic hub and the largest regional office for asset management.

The bank will also “look to provide strategic advisory services and guidance on capital formation, M&A opportunities and the development of Qatar’s economy and capital markets,” it said, including by “encouraging foreign direct investment opportunities and supporting the growth of key Qatari companies.”

Qatar’s route to economic diversification offers a “substantial opportunity to widen the state’s impact, global connectivity, and attractiveness as a multi-faceted investment partner,” Goldman Sachs Chief Executive Officer David Solomon said in the statement.

The deal is the latest illustration of the deepening links between large-scale private capital firms and sovereign wealth funds in the Middle East. The region has proven to be a key source of funding for private capital managers such as Apollo Global Management and Goldman Sachs Asset Management to scale their franchises.

It also shows that certain large investors are looking to partner with fund managers across a variety of products, rather than deploying capital with a series of specialists in different asset classes.

The deal “builds on our longstanding relationship with Goldman Sachs and provides QIA with premium deal flow in sectors critical to our investment strategy, including AI, fintech, digital infrastructure and private credit,” QIA CEO Mohammed Saif Al-Sowaidi said.

With $580 billion of assets under management, QIA is one of the world’s biggest wealth funds. It is expected to reap a windfall from an enormous expansion of Qatar’s gas output, potentially giving it more firepower to deploy cash.

Most Gulf markets gain ahead of earnings; #Saudi bourse flat | Reuters

Most Gulf markets gain ahead of earnings; Saudi bourse flat | Reuters

Most Gulf stock markets closed higher on Tuesday, with Dubai ending at its strongest level in almost two decades, as investors looked ahead to earnings and absorbed softer oil prices.

Saudi stocks, however, were flat to slightly lower, weighed by profit-taking after the recent rally.

Dubai's main share index (.DFMGI), opens new tab gained 0.5%, led by a 0.7% rise in blue-chip developer Emaar Properties (EMAR.DU), opens new tab and a 0.8% increase in utility firm Dubai Electricity and Water Authority (DEWAA.DU), opens new tab.

Further gains are possible if fourth-quarter earnings reports lift sentiment. Strong results could add momentum to a market that's already underpinned by healthy fundamentals and upbeat growth expectations for the year, said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group.

Saudi Arabia's benchmark index (.TASI), opens new tab concluded flat after a 3.3% rally last week triggered by the government's that it would liberalise capital market access for foreign investors, starting next month.

Meanwhile, oil prices - a catalyst for the Gulf's financial markets - were steady as investors monitored U.S. President Donald Trump's tariff threats against European states opposing his push to acquire Greenland, while firmer global economic growth expectations and a weaker U.S. dollar gave a floor to prices.

According to Takieddine, cautious sentiment prevails as investors await upcoming fourth-quarter earnings reports following a few early releases. "Meanwhile, volatility in oil prices has slightly impacted sentiment, keeping the market's immediate direction unclear."

In Abu Dhabi, the index (.FTFADGI), opens new tab rose 0.3%, helped by a 0.3% gain in ADNOC Gas (ADNOCGAS.AD), opens new tab.

India signed a $3 billion LNG deal with the UAE on Monday, making it the UAE's top customer. ADNOC Gas will supply Hindustan Petroleum (HPCL.NS), opens new tab with 0.5 million metric tons per year for 10 years as both countries move to deepen trade and defence ties.

Elsewhere, Abu Dhabi Islamic Bank (ADIB.AD), opens new tab - the emirate's largest sharia-compliant lender - advanced 1.2%, ahead of its fourth-quarter earnings release due on Wednesday.

The Qatari index (.QSI), opens new tab edged 0.1% higher, supported by a 1.3% rise in petrochemical maker Industries Qatar (IQCD.QA), opens new tab. Qatar Gas Transport (QGTS.QA), opens new tab added 0.8%, ahead of its earnings announcement later in the day.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab advanced 1.9%, hitting a new record high.

Last week, the country received 1 billion euros from the European Union and is set to receive a total of 3 billion euros in two tranches in 2026, the International Cooperation Ministry said. The grant is part of a 5 billion euro ($5.87 billion) macro-financial assistance package from the EU.

#AbuDhabi: Mubadala CEO Backs AI, Private Credit Bets Despite Market Doubts - Bloomberg

Abu Dhabi: Mubadala CEO Backs AI, Private Credit Bets Despite Market Doubts - Bloomberg

Mubadala Investment Co.’s chief executive said the Abu Dhabi wealth fund has “a lot of conviction” in artificial intelligence, despite investor concerns about exuberance in the sector.

“Leaving the noise and the hype aside, I think we have a very clear view of what we think are the investable spaces within the technology space,” Khaldoon Khalifa Al Mubarak said in a Bloomberg Television interview in Davos on Monday. “Particularly when it comes to AI enablement, there are a lot of aspects that I think we believe in.”

AI companies are raising record sums at elevated valuations, while lenders across public and private markets are pouring capital into data-center projects, prompting some investors to warn of a potential bubble.

Hours earlier, the chief executive of the Qatar Investment Authority said the fund would take a more selective approach to AI investments in the year ahead.

Mubadala also remains confident about its private credit investments, even as the asset class faces increased scrutiny.

Returns from its private credit portfolio were in the mid-double digits in 2025, Al Mubarak said. “We remain quite bullish and firm on that space.”

His comments echo those of deputy group CEO Waleed Al Mokarrab Al Muhairi, who in December dismissed concerns about structural weaknesses in private credit, saying Mubadala’s investments were holding up well.

Investor unease intensified last year after a pair of collapses exposed losses at banks and investment firms. Lower returns and concerns about credit quality have since dampened enthusiasm for the $1.7 trillion market, prompting some investors to pull capital from private credit vehicles.

Amid rising geopolitical tensions, Al Mubarak said Mubadala aims to remain agnostic. “We try to pick our sectors right, we try to position ourselves with the right partners — west, east, north, south.”

He said the fund has historically been underinvested in Asia but is now expanding its footprint, citing strong performance in South Korea, Japan and China in 2025. “I think it worked very well for us.”

Investcorp Chair Sees IPO Market Improving in the Gulf - Bloomberg

Investcorp Chair Sees IPO Market Improving in the Gulf - Bloomberg

The outlook for initial public offerings is getting better in Gulf markets, according to Investcorp’s Executive Chairman Mohammed Alardhi.

“The IPO market is improving in the Gulf for sure,” Alardhi said in an interview with Bloomberg Television at Davos. The region offers “a very compelling long-term investment market,” he added.

The Middle East’s initial offering boom started losing steam last year as valuations came under scrutiny and oil prices stayed well below their peak. Still, some upcoming listings might boost momentum this year, while Saudi Arabia is opening up its equities to all foreign investors.

Alardhi said that his firm is looking at infrastructure opportunities in the Gulf. Last May, Investcorp agreed to invest in a $550 million infrastructure project in Oman through its joint venture with a unit of Aberdeen Group Plc.

An alternative asset manager, Investcorp has about $60 billion in assets under management with offices globally.

While the firm continues to be weigh a liquidity event down the line, like an IPO or a deal with a strategic investor, “there is nothing concrete at the moment,” according to Alardhi.

#Dubai, #SaudiArabia Property Markets Set to Vie for Investor Attention - Bloomberg

Dubai, Saudi Arabia Property Markets Set to Vie for Investor Attention - Bloomberg

Dubai’s real estate market closed 2025 with another record-breaking performance, but some global investor attention may shift to Saudi Arabia this year.

The kingdom has spent the past several months overhauling its property market. Officials imposed an unprecedented five-year rent freeze in Riyadh and quadrupled taxes on undeveloped land, measures aimed at pushing owners to build. The most significant change arrives this month, when new rules will allow foreigners to own property in the kingdom.

Once the law takes effect, non-Saudis will be able to buy residential, commercial, agricultural and industrial property in designated zones across Riyadh, Jeddah, and the holy cities of Mecca and Madinah.

It’s a long-anticipated step that developers hope will draw buyers and international investors to a market that remained largely off-limits to foreigners for decades.

The law is also expected to breathe new life into Saudi projects that the government started but may struggle to finance on its own, such as Diriyah and Qiddiya, which are near population centers and likely to see quicker returns. Foreign developers, suppliers and contractors will be able to enter the market through joint ventures with local firms on a more even footing once the law comes into force, experts say.

Yet even as the country draws more overseas capital, it will need to ensure sufficient housing supply so local Saudis aren’t priced out.

Saudi Arabia’s push comes as Dubai continues to set the standard for regional property markets.

The emirate delivered another strong year for investors in 2025, extending the longest real-estate rally in its history despite warnings about oversupply and bubble risk.

The value of property transactions rose 20% from 2024 to 917 billion dirhams ($250 billion), government data show.

At the top end of the market, demand continued to surge. About 500 homes sold for more than $10 million, according to Knight Frank, including a record 68 transactions above $25 million. Total deal value in this segment rose nearly 28% to $9.05 billion.

Meanwhile, off-plan sales accounted for 76% of all residential transactions, according to ValuStrat, a segment that has increasingly attracted ultra-wealthy buyers and sparked bidding wars. Overseas investors and residents opting to swap high rents for mortgage payments have helped fuel demand, said Haider Tuaima, who heads real estate research at ValuStrat.

Still, a wave of new supply — which had prompted Fitch Ratings to forecast a “moderate correction” heading into 2026 — is beginning to cool rents. “Rental growth has slowed and in some areas stabilized completely,” Tuaima said.

#Qatar Wealth Fund CEO Signals Nuanced Approach to AI Investments - Bloomberg

Qatar Wealth Fund CEO Signals Nuanced Approach to AI Investments - Bloomberg

Qatar’s wealth fund, which has made a series of high-profile bets on artificial intelligence and digital infrastructure in recent months, plans to take a more selective approach to the sector in the year ahead.

“The intersection between AI and other industries is very important,” Chief Executive Officer Mohammed Al-Sowaidi said in an interview in Davos. After five or six years of building a business, investors should be able to assess revenue potential, implementation and productivity gains, he said. “Those are the businesses we’ll back more significantly.”

“The thing we worry about in AI innovation is short-term heat,” he added, pointing to businesses that trade on momentum rather than building models that prove valuable over the long term.

Alongside regional wealth fund giants, the QIA has become a significant backer of technology firms. In December, its newly-created subsidiary Qai partnered with Brookfield Asset Management on a $20 billion venture to invest in AI infrastructure. That followed QIA’s participation in a $13 billion funding round for Silicon Valley startup Anthropic and a $3 billion data-center venture with Blue Owl Capital Inc.

QIA, which oversees an estimated $580 billion, has also backed xAI and Databricks, as well as smaller but “very fundamental” companies, including a call-center optimization firm, Al-Sowaidi said.

The fund will focus on sectors such as financial services and industrials that stand to benefit most from AI-driven productivity gains. It will also continue to invest in minerals, commodities and data centers, with further announcements expected from Qai, he said.

Qatar’s pledge — made during President Donald Trump’s visit to the Middle East in May — to invest an additional $500 billion in the US over the next decade is progressing as planned, Al-Sowaidi said. “There is a probability within the 10 years we actually deploy much more than the $500 billion.”

The US remains central to the fund’s strategy, he said, noting that while it accounts for about 30% of global GDP, it represents roughly 60% of the investable universe. “You cannot be a long-term investor and not have a significant exposure to the United States.”

Most Gulf markets gain on easing geopolitical tensions; Egypt at record high | Reuters

Most Gulf markets gain on easing geopolitical tensions; Egypt at record high | Reuters

Most Gulf stock markets ended higher on Monday as regional geopolitical tensions eased, while Saudi Arabia's benchmark index finished flat amid soft oil prices and profit-taking.

Iran's lethal crackdown appears to have largely subdued the protests for now, residents said on Friday, as state media reported further arrests.

U.S. President Donald Trump also appeared to soften his earlier intervention threats, posting on social media that Iran had halted alleged plans for mass executions of protesters, though Iranian authorities had made no such announcement.

Dubai's main share index (.DFMGI), opens new tab advanced 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab rising 1% and Sharia-compliant lender Dubai Islamic Bank (DISB.DU), opens new tab advancing 1.4%.

In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab finished 0.5% higher.

In the UAE, equities extended last week's gains, underpinned by optimism around the earnings season. Both Dubai and Abu Dhabi posted broad-based advances, supported by solid fundamentals and expectations of strong results, though oil-price swings remain a key risk for sentiment, said Milad Azar Market analyst at XTB MENA.

The Qatari index (.QSI), opens new tab gained 0.7%, led by a 1.5% gain in petrochemical maker Industries Qatar (IQCD.QA), opens new tab.

Saudi Arabia's benchmark index (.TASI), opens new tab concluded flat.

Traders are awaiting further fourth-quarter earnings releases this week as the season kicks off.

While the market relies on solid economic fundamentals and a 4.5% growth projection for 2026, volatile oil prices and geopolitical uncertainty continue to pose risks, said Azar.

Oil prices, a catalyst for the Gulf's financial markets, were down after rising in the previous session as civil unrest in Iran subsided.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab leapt 2.5%, closing at an all-time high, as most of the stocks were in positive territory.

#Saudi bourse rebounds, Egypt at record high | Reuters

Saudi bourse rebounds, Egypt at record high | Reuters

Saudi Arabian equities closed higher on Sunday, recovering from the previous session's decline that ended a six-day rally, although investors stayed cautious amid soft oil prices.

Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.9%, with ACWA Power Company (2082.SE), opens new tab rising 3.9% and Saudi Arabian Mining Company (1211.SE), opens new tab up 1.5%.

The upward momentum was triggered by the government's announcement that it would liberalize capital market access for foreign investors, starting next month.

Macroeconomic conditions generally also remain supportive, with the non-oil sector growing by more than 4% amid sustained government investment in projects linked to the Vision 2030 economic development programme.

Foreign capital inflows totalling tens of billions of riyals over the past year have deepened market liquidity and mitigated volatility, said Rania Gule, senior market analyst at XS.com – MENA.

"I expect the Saudi market to trade within a sideways range in the near term, with a mildly positive bias, while upside momentum could gradually return if oil prices stabilize and companies deliver strong quarterly earnings, particularly in the banking, energy and telecommunications sectors."

The Qatari index (.QSI), opens new tab added 0.5%, led by a 0.8% rise in petrochemicals maker Industries Qatar (IQCD.QA), opens new tab.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab advanced 1.4% to a record high, as almost all its constituents were in positive territory, including Egypt Aluminum (EGAL.CA), opens new tab, which leapt 6.6%.

Gule said the uptick reflects stronger risk appetite, driven by economic reforms and greater exchange-rate flexibility, adding that expectations of upcoming government initial public stock offerings and corporate market listings have reinforced positive sentiment and enhanced market depth.

#Dubai IPO: DWTC, Informa Said to Eye Listing Joint Events Business - Bloomberg

Dubai IPO: DWTC, Informa Said to Eye Listing Joint Events Business - Bloomberg

Dubai World Trade Centre and the UK’s Informa Group are exploring a listing of a joint events business that’s expected to combine some of the emirate’s most prominent exhibitions and conferences.

Rothschild & Co. is acting as financial adviser on the potential initial public offering in Dubai, according to people familiar with the matter. The business could be listed as soon as this year, the people said, declining to be identified because the discussions are confidential.

The deliberations are still at an early stage, and a transaction may ultimately not materialize.

DWTC’s partnership with Informa was announced last March, with combined revenues at the time forecast to exceed $700 million. Once finalized, the new entity, Informa International, will own and operate flagship events, including the Dubai Airshow and Gulfood.

Spokespeople for Rothschild and Informa declined to comment. Representatives for DWTC did not respond to requests for comment.

Dubai has been positioning itself as a global hub for conferences and exhibitions, drawing on its aviation connectivity, extensive hotel infrastructure, central time zone and business-friendly regulations. Authorities aim to triple the events sector’s annual contribution to gross domestic product to 54 billion dirhams ($14.7 billion) by 2033.

The industry has rebounded strongly since the pandemic, driven by renewed demand for in-person business conferences and trade shows. Events are also seen as a catalyst for tourism, another key pillar of Dubai’s economy.

Competition in the region is intensifying. Abu Dhabi, Doha and Riyadh have all expanded their events calendars. Richard Attias & Associates, the organizer of Saudi Arabia’s Future Investment Initiative conference, which draws global finance leaders to Riyadh, is also considering an IPO, Bloomberg News has reported.

A listing would add to the United Arab Emirates’ equity capital markets pipeline, expected to strengthen this year after a subdued 2025. Other potential deals include Emirates Global Aluminium and a range of companies tied to the country’s property boom.

Glencore Strikes Offtake Agreement for Steel Input From #Oman - Bloomberg

Glencore Strikes Offtake Agreement for Steel Input From Oman - Bloomberg

Glencore Plc has agreed to buy at least 500,000 tons a year of hot briquetted iron from a planned Oman-based plant, securing supply of the low-carbon steelmaking input from 2030.

Glencore has committed to purchasing between 500,000 and 1.25 million tons a year of HBI under an offtake agreement with Meranti Green Steel, the project’s developer said. Meranti has also struck offtake deals with INTERFER Global Steel Trading and INTERFER Austria, and thyssenkrupp Materials Services is in talks to secure supply from the plant, the company said.

The project is expected to produce 2.5 million tons of HBI a year once operational. HBI are dense, high-purity iron blocks that are easier to ship than iron ore and are used alongside scrap as a feedstock for electric arc furnaces.

“Many of the electric arc furnace operations will need between 10% and 30% of virgin iron just to meet quality requirements on the steel side,” Meranti Chief Executive Officer Sebastian Langendorf said in an interview. “And trading companies are ideally positioned to deliver that distribution and value proposition also to smaller mills.”

About two-thirds of the plant’s output will supply European steel mills, Langendorf said, with the bloc’s new carbon border levy on imports a key catalyst for the project. The plant in Oman is expected to begin construction in late 2026, following a final investment decision, and will use a mix of natural gas and green hydrogen in production.

“We expect HBI to play an important role in the transformation of the steel market going forward,” a spokesperson for thyssenkrupp Materials Services said. “The project with Meranti Green Steel is one of several and, in our view, one of the most promising projects in the Middle East region.”

A spokesperson from Glencore declined to comment. INTERFER didn’t immediately respond to a request for comment.

#UAE stocks jump as supply fears lift oil | Reuters

UAE stocks jump as supply fears lift oil | Reuters

Stock markets in the United Arab Emirates closed higher on Friday tracking oil prices, as investors continued to weigh supply risks despite the receding likelihood of a U.S. military strike against Iran.

Oil prices, a key contributor to the Gulf's economies, were up 1.22% to $64.54 a barrel by 1106 GMT.

Dubai's main market (.DFMGI), opens new tab climbed 0.9%, snapping a two-sessions losing streak, as heavyweight financial and real estate stocks led the rebound.

Blue-chip developer Emaar Properties (EMAR.DU), opens new tab rose 1.1%, while top lender Emirates NBD Bank (ENBD.DU), opens new tab jumped 1.3%.

Dubai World Trade Centre and UK's Informa Group are said to be eyeing a listing of a joint events business, Bloomberg News reported on Friday.

Abu Dhabi's benchmark index (.FTFADGI), opens new tab advanced 0.7% to a second session with Adnoc Gas (ADNOCGAS.AD), opens new tab gaining 0.6% and construction giant Aldar Properties (ALDAR.AD), opens new tab increasing 1.3%.

Among the gainers, state-controlled AD Ports Group (ADPORTS.AD), opens new tab surged 4.4% after it finalised a deal to sell land to Danube Properties for AED 840 million ($228.71 million).

Abu Dhabi state oil firm ADNOC is weighing entering Venezuela's energy industry and could seek a partnership with another international producer to participate in the nation's gas projects, Bloomberg News reported on Thursday, citing people familiar with the matter.

Dubai index notched up 1.5% in the week, while Abu Dhabi recorded 1.1% weekly gains, according to data compiled by LSEG.

Exclusive: Qatari company to acquire major stakes in Syrian banks, sources say | Reuters

Exclusive: Qatari company to acquire major stakes in Syrian banks, sources say | Reuters

Qatari group Estithmar Holding (IGRD.QA), opens new tab is set to take control of Syria's Shahba Bank and take a 30% stake in Syrian International Islamic Bank, four people familiar with the matter said, marking the first foreign banking acquisitions in Syria since the fall of former leader Bashar al-Assad.

The move, which follows the lifting of U.S. sanctions on Syria late last year, comes as the country's central bank tries to recapitalise a banking sector severely impaired by 14 years of war and Western sanctions.

Estithmar, part of the Doha-based Power International Holding conglomerate led by the Syrian-Qatari brothers Moutaz and Ramez Al-Khayat, will take a controlling 60% stake in Shahba after buying out the shares of Banque Bemo Saudi Fransi and Ahli Trust Bank, according to three of the people.

"They have a very ambitious plan for the bank by enhancing the capital and facilitating communication with correspondent banks," one of the sources, who is familiar with Shahba Bank's thinking, said.

Another 30% of SIIB is already held by Qatari partners, according to a person with direct knowledge of the matter.

Bemo, ATB and SIIB did not immediately respond to requests for comment.
The acquisitions are still subject to regulatory approval.

Syrian Central Bank Governor Abdelkader Husrieh said he could not comment as these matters remained confidential.

"That said, the Central Bank welcomes any potential restructuring or market-led initiatives that strengthen the stability, resilience, and sound governance of the banking sector, provided they fully comply with applicable laws and regulatory requirements," he told Reuters.

The acquisitions would add to a growing portfolio of projects and investments by the Khayats, whose companies already have contracts for power generation projects in Syria and to redevelop and expand Damascus airport.

The sources said ATB and Bemo would use proceeds from the sale of their stakes in Shahba Bank to inject capital into their own banks, which have been hit by exposure to a financial crisis in neighbouring Lebanon.

Gulf markets mixed amid geopolitical worries, profit-taking | Reuters

Gulf markets mixed amid geopolitical worries, profit-taking | Reuters

Gulf stock markets closed mixed on Thursday, as investor sentiment was weighed down by uncertainty surrounding the evolving regional geopolitical situation and profit-taking.

The United States is pulling some personnel out of military bases in the Middle East, a U.S. official said Wednesday. That came after a senior Iranian official said Tehran had warned neighboring countries it would target U.S. bases if Washington launches strikes.

Saudi Arabia's benchmark index (.TASI), opens new tab dropped 1.2%, snapping a six-day winning streak, with Al Rajhi Bank (1120.SE), opens new tab losing 1.6%.

However, broadened foreign participation rules triggered the recent rebound, additional market reforms could translate into increased foreign inflows, while new state-owned firms' IPOs could draw new investments, said George Pavel, general manager at Naga.com Middle East.

Among other losers, oil behemoth Saudi Aramco (2222.SE), opens new tab eased 0.7%.

Oil prices, a catalyst for the Gulf's financial markets, tumbled more than 3% after U.S. President Donald Trump said killings of demonstrators during protests in Iran were ending, easing concerns over military action against Iran and potential oil supply disruptions.

The Qatari index (.QSI), opens new tab declined 1.3%, hit by a 2% fall in Qatar Islamic Bank (QISB.QA), opens new tab.

Dubai's main share index (.DFMGI), opens new tab finished flat, while the Abu Dhabi index (.FTFADGI), opens new tab was up 0.2%.

According to Pavel, the earnings season has the potential to reinforce the positive fundamental narrative, but its impact is constrained to a certain extent by the trajectory of oil prices and the regional geopolitical risk.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.7%, with Commercial International Bank (COMI.CA), opens new tab advancing 3.4%.

Aramco-Backed MidOcean Is in Talks to Join Argentina LNG Project - Bloomberg

Aramco-Backed MidOcean Is in Talks to Join Argentina LNG Project - Bloomberg

MidOcean Energy LLC, a liquefied natural gas company founded by EIG Partners, is in talks to join Argentina’s signature LNG venture, according to people familiar with the matter.

The $20 billion project led by state-run YPF SA and Italy’s Eni SpA envisages construction of at least two floating liquefaction vessels with annual capacity for 12 million tons off Argentina’s Atlantic coast. YPF executives have ambitions to incorporate a third vessel.

Talks are at an early stage and MidOcean may yet walk away from the project known as Argentina LNG, said the people, who asked not to be named because the information is private. Saudi Aramco is an investor in MidOcean.

President Javier Milei met MidOcean executives in Buenos Aires this week, according to a statement from his office that didn’t provide details of the meeting.

“We were pleased to meet with President Milei to discuss opportunities in Argentina’s energy sector as part of our regular assessment of business development opportunities globally, and we look forward to continued engagement,” EIG said in an email, without providing further comment on the talks.

YPF declined to comment. Eni didn’t immediately reply to a request for comment.

MidOcean holds stakes in gas-export plants in Australia, Peru and Canada, and has been looking to expand its portfolio.

Abu Dhabi National Oil Co.’s overseas investment arm, XRG, agreed in November to join as an equity partner in Argentina LNG but hasn’t yet inked a binding deal.

Argentina LNG is a key part of efforts to turn Argentina’s booming Vaca Muerta shale patch into a significant global provider of oil and gas. The exports could, in turn, drive a generational shift to stabilize the country’s crisis-prone economy.

Northern Graphite, Al Obeikan form JV to build battery anode plant in #SaudiArabia | Reuters

Northern Graphite, Al Obeikan form JV to build battery anode plant in Saudi Arabia | Reuters

Northern Graphite (NGC.V), opens new tab said on Wednesday it signed a preliminary agreement with Saudi Arabian investment firm Al Obeikan Group to jointly develop ​and operate a large-scale battery anode material facility in ‌the kingdom.

The Canadian miner said the roughly $200 million facility would have an initial annual capacity of 25,000 tonnes, with debt financing sourced from Saudi government finance agencies and global commercial banks.

Northern Graphite shares surged about 30% ‌to C$0.32 in morning trade.

WHY IT'S IMPORTANT

The demand for graphite ​anodes has soared as companies race to secure supplies of battery materials used in electric vehicles amid a global push towards cleaner ‍transportation and fuel.

Northern Graphite said the facility would be scalable over time to meet the rapidly growing global demand for graphite anode materials sourced outside of ⁠China.

CONTEXT

Countries, including the United States, are ramping up efforts to reduce ‍dependence on China, which is the top producer of graphite.

Saudi Arabia is also looking ‌to ‌diversify its economy away from oil dependence by expanding into new industries, and positioning the country as a global investment and tourism hub.

BY THE NUMBERS

Al Obeikan would own 51% of the joint venture company ⁠while Northern would ⁠hold the rest.

The ​Canadian miner said it expects to start construction of the facility this year with first-phase production beginning in 2028.

Northern added it was in advanced discussions ‍with global battery manufacturers for a long-term offtake agreement for the initial 25,000 tonnes of production.

The company also said the JV project would buy up to 50,000 ​tonnes per annum of graphite from Northern's ‍Namibia project and would fast-track the restart and expansion of the Okanjande mine in ​the African nation.

#Saudi Public Investment Fund plans to spin off mining firm Manara | Reuters

Saudi Public Investment Fund plans to spin off mining firm Manara | Reuters

Saudi Arabia's Public Investment Fund plans to spin off its mining investment firm Manara Minerals, the kingdom's mining minister said, as it seeks to revive its pursuit of investments abroad.

Saudi Arabia, in common with other Middle Eastern economies, is working to secure critical minerals such as copper and lithium, essential for electric vehicles and renewable energy, as part of its efforts to reduce dependence on oil.

Manara, a joint venture between the Saudi Arabian Mining Company, also known as Maaden, (1211.SE), opens new tab and the $925 billion PIF, was established in 2023 to invest in critical minerals abroad.

But, although it has bid for assets across Africa and Asia, it has so far completed only one deal: a $2.5 billion 10% stake in Vale Base Metals, which was spun off from Brazilian iron ore giant Vale (VALE3.SA), opens new tab in 2024.

Industry and Mineral Resources Minister Bandar Al-Khorayef said spinning off Manara from the PIF would sharpen its focus.

"This will change the culture of the company from being only an investment vehicle to having more technical capability," Al-Khorayef told Reuters in an interview on the sidelines of the Future Investment Forum event.

"PIF is a large investor, but they don't have mining expertise."

He did not give any timing on a spin-off, but said discussions over new shareholders in Manara were ongoing, adding that they could be Saudi or foreign investors.

In Saudi Arabia, the pursuit of international investments and the development of mining are part of Crown Prince Mohammed bin Salman's broader plan to diversify the economy away from oil.

Riyadh estimates its untapped mineral resources, including phosphate, gold, bauxite and rare earth elements, at about $2.5 trillion.

Maaden is also exploring for rare earths and developing technology to extract lithium from seawater.

Most Gulf markets retreat on geopolitical woes | Reuters

Most Gulf markets retreat on geopolitical woes | Reuters

Most Gulf stock markets closed lower on Wednesday due to ongoing geopolitical tensions in the region, despite slightly lower-than-expected U.S. inflation data that boosted hopes for upcoming interest rate cuts.

Tehran has warned neighbours hosting U.S. troops that it would hit American bases if Washington strikes, a senior Iranian official told Reuters on Wednesday, as Iran seeks to deter Donald Trump's threats to intervene on behalf of protesters.

The U.S. president urged Iranians to keep protesting, saying help is on the way. Iran in turn accused Trump of encouraging political destabilization and inciting violence.

Dubai's main share index (.DFMGI), opens new tab gave up early gains to conclude 0.9% higher, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab retreating 1.4%.

In Abu Dhabi, the index (.FTFADGI), opens new tab was down 0.5%.

The Qatari benchmark (.QSI), opens new tab lost 0.2%, hit by a 1.3% fall Qatar International Islamic Bank (QIIB.QA), opens new tab.

Saudi Arabia's benchmark index (.TASI), opens new tab rose 0.5%, with Al Rajhi Bank (1120.SE), opens new tab gaining 1% and Saudi National Bank (1180.SE), opens new tab, the country's biggest lender by assets, advancing 1.7%.

Saudi equity markets gained ground on reform-driven foreign investor confidence and capital inflows, according to Milad Azar, market analyst at XTB MENA.

Oil price volatility from geopolitical tensions and supply concerns, however, poses two-way risk: rising crude could lift regional stocks, while falling prices may trigger renewed weakness.

U.S. consumer prices rose in December, driven by increased expenses for housing and groceries, reinforcing analysts' views that the Federal Reserve would hold interest rates this month.

Investors expect two 25-basis-point rate cuts this year, with the earliest in June.

Gulf markets often track shifts in U.S. rate expectations, as most regional currencies are pegged to the dollar.

Oil prices rose on Wednesday for a fifth straight session on fears of Iranian supply disruptions due to a potential U.S. attack on Iran and possible retaliation against U.S. regional interests.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab declined 1.4%, snapping a 5-day winning streak.

China, #UAE Lead List of Those at Risk From Trump’s #Iran Tariff - Bloomberg

China, UAE Lead List of Those at Risk From Trump’s Iran Tariff - Bloomberg

China and the United Arab Emirates are Iran’s largest trading partners, putting them at the top of the list of countries at risk of being hit by President Donald Trump’s 25% tariff threat.

Trump said Monday he would impose a 25% tariff on goods from nations doing business with Iran, which also puts the US’s European allies in the mix.

The initiative, which Trump said would take effect “immediately,” is likely intended to further isolate and pressurize Iranian Supreme Leader Ayatollah Ali Khamenei’s regime as it cracks down on more than two weeks of nationwide protests. The US leader has openly backed the demonstrators, and had already made a series of non-specific threats to intervene.

China — with which Trump agreed a trade truce in October — tops the ranking of Tehran’s trading partners, with commerce amounting to $17.8 billion in 2024, according to the International Monetary Fund. Iran sends close to 90% of its oil to China.

The UAE comes second in the ranking with $16.1 billion, before a large drop off to Turkey in third, with $8.8 billion.

European economies are also exposed. Iran’s trade with Germany and Switzerland amounted to almost $3.5 billion combined. India, another country to have grappled with Washington over trade, is fourth on the list. Uzbekistan, with which Trump announced a trade and economic deal in November, had $1.3 billion in trade with Iran in 2024.

Trump didn’t specify which transactions, goods, or entities would be subject to the tariffs, or how they would be enforced. Iranian trade data is opaque, as the country publishes limited statistics to avoid sanctions and operates routes through third countries.

Iranian protests erupted late last year after a sudden collapse in the value of the currency, partly as a result of severe economic sanctions linked to the country’s nuclear program. They have since broadened into the biggest and most violent challenge to Khamenei’s rule, capturing the attention of world leaders and inflating the price of oil.

German Chancellor Friedrich Merz on Tuesday became the first Group of Seven leader to predict the downfall of Iran’s regime, saying it’s in its “final days.”

China, the UAE, Turkey and India have has yet to comment on the proposed measures.

Mubadala-Backed CI Buys Invesco’s Canadian Fund Assets - Bloomberg

Mubadala-Backed CI Buys Invesco’s Canadian Fund Assets - Bloomberg

Atlanta-based Invesco Ltd. is selling its C$26 billion ($18.7 billion) Canadian investment fund business to CI Global Asset Management, furthering the M&A trend in the country’s mutual fund industry.

CI will become the manager for 100 Invesco mutual funds and exchange-traded funds, bringing the Toronto-based firm’s assets to C$170 billion. Financial terms were not disclosed.

Invesco will stay on as a sub-adviser to 63 of those funds, representing about half the assets, or C$13 billion.

Invesco will be “reducing its Canadian operating footprint,” Andrea Raphael, its chief communications officer, said in an emailed statement. The transaction is expected to close in the second quarter.

The Canadian mutual fund industry has consolidated over the past decade as the rise of ETFs and increased regulatory scrutiny led to lower fees and thinner margins. CI Financial Corp. itself was taken private last year by Mubadala Capital in one of the largest-ever acquisitions by an Abu Dhabi entity in the financial sector.

The Invesco transaction “will cement our ranking as one of the largest investment fund companies in Canada and position the firm for continued growth,” Kurt MacAlpine, CI’s chief executive officer, said in a statement.
Trimark History

Invesco Canada’s predecessor companies have a storied place in the country’s mutual fund industry.

Trimark Financial Corp. was founded by Robert Krembil, Michael Axford and Arthur Labatt in 1981. Focused on value investing, it was Canada’s sixth-largest mutual fund company with C$25 billion in assets before Britain’s Amvescap struck a deal to buy it in 2000.

Trimark “was a firm that launched products that they thought would really improve investor outcomes. They didn’t just launch the flavor of the day,” said Dan Hallett, head of research at HighView Financial Group in Oakville, Ontario. He lauded Trimark for starting Canadian natural resources and small-cap funds in 1998, before those strategies had widespread investor interest and proven returns.

CI has attempted to buy this division before. In 2005, it unsuccessfully tried a hostile bid for Amvescap, partly motivated by its desire to own the Trimark operations. Amvescap changed its name to Invesco in 2007.

Mutual fund and ETF assets in Canada totaled C$3.2 trillion as of Nov. 30, according to the Securities and Investment Management Association, with ETFs accounting for 22% of that amount.

Most Gulf bourses gain on rising oil prices | Reuters

Most Gulf bourses gain on rising oil prices | Reuters

Most stock markets in the Gulf closed higher on Tuesday helped by climbing oil prices, while investors assessed the possible impact on the dollar and interest rates after the U.S. administration threatened Federal Reserve Chair Jerome Powell with a criminal indictment.

Oil prices - a catalyst for the Gulf's financial markets - extended gains as heightened concerns surrounding major producer Iran and potential supply disruptions overshadowed the prospect of increased crude supply from Venezuela.

Saudi Arabia's benchmark index (.TASI), opens new tab advanced 1.4%, with Al Rajhi Bank (1120.SE), opens new tab rising 1.9% and Saudi Arabian Mining Company (1211.SE), opens new tab jumping 4.9%.

Elsewhere, oil giant Saudi Aramco (2222.SE), opens new tab climbed 2.7%.

Dubai's main share index (.DFMGI), opens new tab gained 0.8%, with top lender Emirates NBD (ENBD.DU), opens new tab rising 1.7% and sharia-compliant lender Dubai Islamic Bank (DISB.DU), opens new tab was up 1.2%.

In Abu Dhabi, the index (.FTFADGI), opens new tab added 0.3%.

In the U.S., the Trump administration appears to be on the offensive again against the Federal Reserve, reviving concerns about the central bank's independence and contributing to greater uncertainty over the economic outlook.

Gulf markets often track shifts in U.S. rate expectations, as most regional currencies are pegged to the dollar.

Further fuelling geopolitical worries, U.S. President Donald Trump said Monday that any country doing business with Iran will be hit with a 25% U.S. tariff, as Washington considers how to respond to Iran's crackdown on major anti-government protests.

The Qatari index (.QSI), opens new tab concluded 0.6% higher, with Qatar Islamic Bank (QISB.QA), opens new tab putting up 1.8%.

Post trading hours, the Gulf's biggest lender by assets Qatar National Bank (QNBK.QA), opens new tab, which ended 1% higher, reported an annual net profit of 17 billion riyals ($4.66 billion).

Outside the Gulf, Egypt's blue-chip index (.EXG30), opens new tab rose 0.7%, with Commercial International Bank (COMI.CA), opens new tab leaping 4.5%.

#AbuDhabi Firm That Backed Paramount’s Hostile Bid Gets a Board - Bloomberg

Abu Dhabi Firm That Backed Paramount’s Hostile Bid Gets a Board - Bloomberg

Abu Dhabi has appointed the board for L’Imad Holding Co., the recently created entity that drew attention after joining established Gulf wealth funds to back Paramount Skydance Corp.’s hostile bid for Warner Bros. Discovery Inc.

Jassem Mohamed Bu Ataba Al Zaabi will serve as managing director and chief executive officer of the sovereign investment platform, according to a statement on Monday. Al Zaabi chairs several Abu Dhabi-based entities, including the emirate’s Department of Finance and telecommunications group e&.

He will be joined on the board by representatives of Mubadala Investment Co., including Group CEO Khaldoon Khalifa Al Mubarak and Deputy Group CEO Waleed Al Mokarrab Al Muhairi.

The board will be chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the crown prince of Abu Dhabi.

In addition to L’Imad and Mubadala, the emirate is home to major sovereign investors such as ADQ and the Abu Dhabi Investment Authority, which together oversee about $1.8 trillion in assets.

Aside from its high-profile support for the Warner Bros. bid, L’Imad has publicly disclosed only one significant transaction so far. In late October, it agreed to buy a controlling stake in Modon Holding PSC, an Emirati property developer with a market value of about $15 billion, from ADQ and Sheikh Tahnoon bin Zayed Al Nahyan’s International Holding Co.

L’Imad plans to develop and manage a diversified portfolio across priority sectors in the United Arab Emirates and abroad, including infrastructure and real estate, financial services and asset management, advanced industries and technology, urban mobility, and smart cities, according to the statement.

#UAE's FAB teams up with T Rowe Price to expand investment services | Reuters

UAE's FAB teams up with T Rowe Price to expand investment services | Reuters

First Abu Dhabi Bank (FAB.AD), opens new tab, the United Arab Emirates' largest lender by assets, said on Monday it has entered into a strategic partnership with U.S.-based asset manager T. Rowe Price (TROW.O), opens new tab to expand its investment offerings across the Gulf region.

Under the partnership, T. Rowe Price will act as an investment partner to FAB, offering services in equities, fixed income, alternatives and multi-asset strategies, the bank said in a statement.

The collaboration aims to broaden the range of products available to FAB's retail, private banking and institutional clients, while strengthening the lender's investment management capabilities. Financial terms of the agreement were not disclosed.

Western wealth managers have increased their presence in the Gulf as its relatively neutral political stance, ease of doing business, convenient time zones, and tax free status has lured an increasingly diverse pool of investors.

#Saudi leads Gulf stocks higher; Egypt extends rally to record high | Reuters

Saudi leads Gulf stocks higher; Egypt extends rally to record high | Reuters

Gulf stock markets mostly rose on Monday, with Saudi Arabia extending gains for a third straight session and Dubai climbing to its highest level since 2008, as investors took heart from property-related announcements and looked ahead to fourth-quarter earnings.

Saudi Arabia's benchmark stock index (.TASI), opens new tab gained 1.3%, with broad-based advances led by materials, real estate and communication services.

Saudi Arabian Mining Co (1211.SE), opens new tab rose 4.7% and Dar Al Arkan Real Estate (4300.SE), opens new tab jumped 7.5%, its biggest intraday rise in nearly four months, after its international arm Dar Global (DARD.L), opens new tab said it would launch two Trump-branded luxury projects in Riyadh and Jeddah with a combined value of $10 billion, according to CEO Ziad El Chaar.

"Sentiment had already been lifted last week by the announced stock market opening to foreign ownership, but momentum accelerated today following Dar Global's announcement as the country also opens in (the) property market," said Joseph Dahrieh, managing director at Tickmill.

Dubai's benchmark stock index (.DFMGI), opens new tab advanced 0.7% to 6,268, a fresh high since 2008, supported by gains in materials and communication shares. Emaar Properties (EMAR.DU), opens new tab climbed 1.4% and tolls operator Salik (SALIK.DU), opens new tab rose 2.7%.

"The market retains solid fundamentals that support a positive outlook, with upcoming Q4 earnings serving as the next potential boost," Dahrieh said.

The Qatari benchmark index (.QSI), opens new tab rose 0.7%, extending gains for a second day. Qatar Islamic Bank (QISB.QA), opens new tab added 1.1% and Qatar Gas Transport (QGTS.QA), opens new tab increased 1.4%.

The Abu Dhabi benchmark index (.FTFADGI), opens new tab ended flat as gains in utilities, telecom and technology offset losses elsewhere.

ADNOC Gas (ADNOCGAS.AD), opens new tab fell 1.2%, while Abu Dhabi National Energy Company (TAQA.AD), opens new tab rose 1.3%. Masdar, jointly owned by TAQA, ADNOC and Mubadala, said on Sunday it had signed a power purchase agreement for a solar project in Angola.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 1.2% to a record close of 43,404, extending its advance to a fourth session. Commercial International Bank (COMI.CA), opens new tab surged 6.1% and Misr Fertilizers Production Co (MFPC.CA), opens new tab added 2.5%.

Separately, Egypt's core inflation eased to 11.8% year-on-year in December from 12.5% in November, the central bank said on Sunday.

Trump Firm Sharpens #Saudi Property Focus as Prince Opens Market - Bloomberg

Trump Firm Sharpens Saudi Property Focus as Prince Opens Market - Bloomberg

The Trump Organization and luxury developer Dar Global Plc are kicking off sales at real estate projects in Saudi Arabia valued at $10 billion, seeking to capitalize on new rules that will soon make it easier for foreigners to invest.

The firms have agreed to develop Trump International Golf Club Wadi Safar in Riyadh, a gated-community to feature assets that will include a Trump-branded hotel, golf course and premium residences, according to a statement on Sunday.

The projects are among several that US President Donald Trump’s business empire is pursuing, efforts which have raised concerns about potential conflicts of interest. At the start of each of his terms in the White House, Trump has placed his business operations in a trust, through not a blind one, managed by his sons Eric Trump and Donald Trump Jr.

Sales at Wadi Safar project, and at the $1 billion Trump Plaza in Jeddah, will be launched this week, Dar Global’s Chief Executive Officer Ziad El Chaar said in an interview. That’s designed to coincide with looser laws around foreign property ownership expected to take effect this month, he said.

“We expect a lot of demand locally, but we also have expectations of major interest from international investors because they see this market is just opening up,” El Chaar said. “People want to join from the beginning.”

Saudi Arabia plans to allow non-Saudis to buy a wider range of real estate assets, including in the holy cities of Mecca and Madinah, as it looks to lure more foreign capital for development. Regulators are also opening the Saudi stock market to all investors, and have further eased rules around alcohol consumption, in part to make Riyadh more attractive to foreigners.

The changes come as Saudi Arabia strives to make foreign investors a bigger contributor to the economy and source of funding for projects that back Crown Prince Mohammed bin Salman’s Vision 2030 diversification agenda.

Both the Trump Organization and Dar Global, the London-listed unit of Saudi developer Dar Al Arkan, said the reforms are a critical reason they’re accelerating their partnership.

The firms plan a second development in Riyadh and are also developing a Trump Tower in Jeddah. Neither ruled out the potential for investments in Saudi Arabia’s holy cities under the new property laws.

Elsewhere in the Middle East, Dar Global and the Trump Organization are developing assets together in countries including Oman and Qatar.

In the United Arab Emirates, they’re working on the Trump International Hotel & Tower, a property that’s set to feature the world’s highest swimming pool, in Dubai. They’ll probably be in Abu Dhabi soon too, said Eric Trump, executive vice president of the Trump Organization.

“I’d say there is no area on Earth that has a stronger real estate environment right now than the Gulf,” Trump added.

Gulf shares track oil higher; Egypt hits fresh record | Reuters

Gulf shares track oil higher; Egypt hits fresh record | Reuters

Major Gulf stock markets rose on Sunday as oil prices climbed, supported by supply worries tied to intensifying protests in oil-producing Iran and an escalation of attacks linked to Russia's war in Ukraine.

Oil prices — a key catalyst for Gulf equities — settled 2.18% higher on Friday. Brent was trading at $63.34 a barrel.

Saudi Arabia's benchmark stock index (.TASI), opens new tab extended gains for a third straight session, rising 1.3%, with all constituents in positive territory. Energy, materials and healthcare stocks led the advance, while heavyweight Saudi Aramco (2222.SE), opens new tab gained 2.4% and Saudi Basic Industries Corp (2010.SE), opens new tab added 3.5%, its strongest intraday percentage gain in nearly five months.

SABIC said on Thursday it had agreed to sell its European petrochemical business and its engineering thermoplastics business in Europe and the Americas for a combined enterprise value of $950 million.

Elsewhere Dar Al Arkan Real Estate (4300.SE), opens new tab rose 1.2% after its international arm Dar Global(DARD.L), opens new tab said it will launch two Trump-branded luxury projects in Riyadh and Jeddah, with a combined value of $10 billion, according to CEO Ziad El Chaar.

"Risk-on sentiment continues to dominate the market following the Saudi regulator's announcement that the market will be open to all foreign investors starting February, with the recent rebound in oil prices lending further support," said Milad Azar, market analyst at XTB MENA.

"Looking ahead, the market (is expected) to continue its recovery from last year's downtrend, bolstered by solid projections for non-oil economic growth and the potential for positive Q4 earnings to serve as the next major catalyst," he added. 

The Qatari benchmark index (.QSI), opens new tab rebounded from the previous session's decline to rise 1.1%, with all constituents higher. Qatar National Bank (QNBK.QA), opens new tab, the region's largest lender, climbed 1.7%, while Qatar Gas Transport (QGTS.QA), opens new tab advanced 1.6%.

QatarEnergy said on Friday it had acquired an interest in a new exploration block offshore Lebanon.

Outside the Gulf, Egypt’s blue-chip index (.EGX30), opens new tab advanced for a third day, gaining 2.5% to reach a record high of 42,895, with nearly all stocks higher. Commercial International Bank (COMI.CA), opens new tab rose 4%, while Egypt Aluminum Company (EGAL.CA), opens new tab jumped 5.1%.

Egypt's annual urban consumer inflation was unchanged at 12.3% in December, data from statistics agency CAPMAS showed on Saturday.