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NON-OIL TO STAY STEADY
UAE growth to hit 4.5% next year: Central Bank
The Central Bank of the United Arab Emirates (CBUAE) has maintained its real GDP growth projections for 2024 at 4.0 percent. The growth is expected to accelerate to 4.5 and 5.5 percent in 2025 and 2026, respectively.
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TIME FOR MORE EVALUATION
Ma’aden says Alba merger deadline extended to Q2 2025
Saudi Arabian Mining Company (Maaden) has announced that the deadline for the proposed merger between Aluminium Bahrain (Alba) and its subsidiaries has been extended to the second quarter of 2025. Originally it was anticipated to be finalised in Q1 2025.
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CONSUMER SPENDING TO RISE
UAE’s GDP to grow 5pc in 2025 says report
The UAE’s GDP is projected to grow by 5% year over year in 2025, continuing to outperform global GDP growth, which is forecast at 3.2.% – a modest increase on 3.1% in 2024.
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Spanish group Ayesa wins PMC contract for big Aramco stadium
Spanish engineering group Ayesa has secured the project management consultancy (PMC) contract for the new 47,000-seat Aramco Stadium in Al Khobar. Set for completion in 2026, it will boast cutting-edge sports and leisure facilities as well as retail areas
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Chemist Warehouse launches Leo Messi perfume in Dubai
Australia’s leading retailer Chemist Warehouse has announced the launch of Leo Messi Eau De Parfum - a fragrance inspired by the legendary Argentinian footballer - at its flagship UAE store, now open at Al Ghurair Centre in Dubai.
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Bahrain officially launches giant Bapco Modernization Project
Bahrain has announced the official inauguration of the Bapco Modernization Project under the patronage of HM King Hamad and Crown Prince HRH Salman bin Hamad Al Khalifa. The kingdom's giant project comprised 21 new processing units and 15 substations.
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Saudi GDP to grow by 3.7pc in 2025 outpacing global: report
Saudi Arabia’s GDP in 2025 is projected to grow by 3.7% year over year, continuing to outperform global GDP growth, which is forecast at 3.2.% – a modest increase on 3.1% in 2024, says the Mastercard Economics Institute.
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The top 5 electric vehicle trends to watch for in 2025
The UAE’s electric vehicle (EV) market is poised for significant transformation in 2025, underpinned by government initiatives, surging consumer demand, and rapid advancements in infrastructure.
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DP World kicks off maritime work at $1.2bn port in Senegal
DP World has announced that it has begun maritime construction work at the new Port of Ndayane in Senegal being set up at a $1.2 billion investment in collaboration with British International Investment, the development finance agency of UK government.
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Sheraton opens newly-revamped hotel in Bahrain
Sheraton Bahrain Hotel, a premium property in the kingdom, has opened its doors after undergoing extensive renovations and a complete transformation. The hotel boasts 210 modern guest rooms and suites as well as an impressive 2,002 sq m meeting space.
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BNET, Zain Bahrain complete fiber backhaul asset transfer deal
Bahrain Network (BNET), the national company responsible for providing fiber-based broadband networks in Bahrain, has announced the strategic and successful transfer of Zain Bahrain’s fixed-fiber backhaul network assets.
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Azizi unveils key residential project within Al Furjan community
UAE-based Azizi Developments has launch its latest contemporary residential project - Azizi Raffi - within the Al Furjan community in Dubai. Set for completion in 2026, Raffi features a wide selection of studios and one- to three-bedroom apartments.
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Ram 1500 reigns as MotorTrend 2025 Truck of the Year
MotorTrend has named the Ram 1500 its 2025 Truck of the Year after weeks of testing, as editors of the automotive publication awarded high scores to the truck in every category of the competitive testing process.
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Mubadala buys majority stakes in GMSC and IDS
Mubadala Investment Company, an Abu Dhabi sovereign investor, has acquired an 80% stake in Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS) from GlobalOne Healthcare Holding (GHH).
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Turkish Airlines sets world record with flights to 120 countries
National flag carrier Turkish Airlines has announced that it has set a Guinness world record with flights to 120 countries, reflecting only the active routes of the past 12 months. It won the title for the 'Most Countries Flown to by an Airline.'
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Alba inks strategic partnership deal with Indian group Comvision
Aluminium Bahrain (Alba), the world’s largest aluminium smelter on one site, has sealed a strategic partnership with Indian group Comvision to help boost its inventory management and tracking systems through implementation of cutting-edge technology.
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Forbes Middle East Women’s Summit honours Dalia Khorshid
Forbes Middle East Women’s Summit, held in Riyadh, Saudi Arabia, has honoured Dalia Khorshid, Group CEO of Beltone Holding, for her exceptional contributions to the investment sector and her leadership.
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