Iran’s attacks on GCC countries, and the resulting closure of airspace and main shipping route, are unlikely to affect the existing ratings of state-owned companies in the region. This reflects the strong likelihood that the governments will support their key operating companies, according to Fitch Ratings.
DP World has appointed Ahmad Yousef Al-Hassan as Chief Executive Officer and Managing Director for the GCC, overseeing an integrated portfolio spanning ports and terminals, economic zones, digital technology and logistics solutions across the UAE, Saudi Arabia, Oman and markets in the Upper Gulf.
The ongoing Middle East conflict involving US, Israel and Iran has impacted several major landmarks in the region including Burj Al Arab, Palm Jumeirah, Dubai International Airport, Jebel Ali Port in UAE as well as Crowne Plaza, a premium five-star hotel in Bahrain.
India and the six-nation Gulf Cooperation Council (GCC) have signed the Terms of Reference (ToR) for a proposed free trade agreement (FTA), marking a significant step towards formal negotiations, Commerce and Industry Minister Piyush Goyal said in a video message shared on X.
The Gulf Cooperation Council (GCC) and India have launched trade agreement negotiations, marking a new phase in the strategic partnership.
The GCC ranked ninth globally in Gross Domestic Product (GDP) at current prices in 2024, with a total output of approximately $2.3 trillion, confirming its position as an influential economic power at the international level.
The Gulf Cooperation Council Interconnection Authority has announced the start of implementation of the direct electricity interconnection project linking the GCC grid with Oman’s network, marking a major step in regional energy integration and infrastructure development.
GCC residential real estate supply is projected to rise from 6.26 million units in 2025 to 7.28 million by 2030, while office space is set to expand from 33.3 million sq m to 42.4 million sq m over the same period.
Bahrain, Saudi Arabia and the UAE have declared that Wednesday (February 18) will be the first day of Ramadan 1447 AH.
Bahrain and the United Arab Emirates (UAE) will officially activate the first phase of a long-planned one-stop air travel system today (February 17), launching a significant step towards seamless mobility within the GCC.
