Saudi Arabia's real GDP grew by 3.0% in the first quarter of 2026 compared with the same quarter of 2025, supported by growth in both oil and non-oil activities.
KPMG International has launched a set of AI Governance Principles for Boards, developed in collaboration with the INSEAD Corporate Governance Centre, to foster responsible governance of AI at board level, as organisations and their boards grapple with AI’s implications for strategy, operations and the board itself.
Most Gulf Cooperation Council (GCC) sovereigns remain supported by strong balance sheets and alternative export channels despite the economic and geopolitical fallout from the US-Iran war, which has prompted Fitch Ratings to revise its 2026 global sovereign sector outlook to “deteriorating” from “neutral.”
The disruption to shipping through Strait of Hormuz is not just energy shock, but a whole economy story; and while direct damage to energy infrastructure exceeds $60 billion, lost revenue and trade loss will be above $150 billion, Crescent Petroleum CEO has said.
Gulf Capital, a leading private equity firm in the region, has entered into a deal with Karthik and Sneha Polsani, the founders of Eclat Health Solutions, for its successful exit from the company. For Gulf Capital and its Fund III investors, the exit represents one of the most successful realisations in the firm’s history.
Invest Qatar, the country’s Investment Promotion Agency, has concluded a high-level roadshow in Istanbul, Türkiye, showcasing Qatar’s diverse investment opportunities and strengthening engagement with Turkish investors and key business stakeholders.
Standard Chartered has received approval from the Capital Market Authority (CMA) for Standard Chartered Capital Saudi Arabia to undertake investment management and operating funds activities in the Kingdom.
Bahrain-based Al Baraka Islamic Bank has announced the launch of a cross-border banking service that allows customers to open bank accounts in Egypt with ease. This reflects its commitment to expanding global services and providing integrated banking to its customers.
Bahrain's Information & eGovernment Authority (iGA) has announced the complete migration of all services available on the Islamiyat app to the unified 'MyGov' app as part of the government mobile applications merger plan. MyGov now offers 111 features and services provided by 15 government entities.
Aggregate net profits reported by companies listed on GCC exchanges rose 15.5% year-on-year in the first quarter to a record quarterly high of $67.9 billion, up from $58.8 billion, said a report. This growth was mainly due to stronger earnings from energy companies, particularly Saudi Aramco.
