Bahrain’s non-oil re-exports rise 3% in July, led by UAE
Bahrain’s non-oil re-exports rise 3% in July, led by UAE/node/2614149/business-economy
Bahrain’s non-oil re-exports rise 3% in July, led by UAE
Key re-exported items included four-wheel drive vehicles valued at 7 million dinars, gas turbine parts at 4.8 million dinars, and jet turbine engines at 4.5 million dinars. Reuters
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Reem Walid
Bahrain’s non-oil re-exports rise 3% in July, led by UAE
Updated 18 sec ago
Reem Walid
RIYADH: Bahrain’s non-oil re-exports grew 3 percent year on year in July to 63 million Bahraini dinars ($166 million), driven by strong demand from the UAE, which accounted for 35 percent of the total.
Ƶ followed with 21 percent, and Singapore with 13 percent, according to data from the Information and eGovernment Authority cited by the Bahrain News Agency.
Key re-exported items included four-wheel drive vehicles valued at 7 million dinars, gas turbine parts at 4.8 million dinars, and jet turbine engines at 4.5 million dinars.
Analysts note that Bahrain’s expanding logistics sector, along with its strategic location, continues to support growth in re-export activity.
While non-oil exports of national origin dipped slightly by 1 percent to 333 million dinars in July, the country’s trade outlook remains positive. Ƶ led as the top destination for national exports at 24 percent, followed by the US at 12 percent and the UAE at 9 percent.
Raw aluminum alloys topped the list of national exports at 93 million dinars (28 percent), followed by agglomerated iron ores and concentrates at 44 million dinars (13 percent) and non-alloy aluminum wires at 19 million dinars (6 percent).
Imports grew 17 percent to 544 million dinars, led by China (13 percent), Brazil (10 percent), and Australia (9 percent). The most imported goods included non-agglomerated iron ores and concentrates, aluminum oxide, and aircraft engine parts.
Despite a trade deficit of 148 million dinars in July, up from 66 million a year earlier, Bahrain’s economy is set for growth.
The World Bank forecasts GDP growth of 3.5 percent in 2025, up from 3 percent in 2024, driven by completion of BAPCO refinery upgrades and stronger non-oil activity in infrastructure, logistics, fintech, and tourism under Economic Vision 2030. Growth is projected to average 2.9 percent in 2026-27, supported by continued non-oil expansion and the Sitra refinery upgrade.
Overall, Bahrain’s non-oil trade, particularly re-exports, continues to demonstrate resilience and diversification, reflecting the Kingdom’s strategic efforts to expand its economic base beyond hydrocarbons.
Closing Bell: Saudi main market ends week in green
Updated 04 September 2025
Nour El-Shaeri
RIYADH: Ƶ’s Tadawul All Share Index closed Thursday’s trading session on a positive note, rising 36.51 points, or 0.34 percent, to 10,655.61.
Trading turnover totaled SR3.24 billion ($864 million) with 153.19 million shares changing hands, as 123 stocks advanced and 117 declined.
The MSCI Tadawul 30 Index also climbed, adding 6.24 points, or 0.45 percent, to 1,381.79.
In contrast, the parallel Nomu market edged down 113.44 points, or 0.44 percent, closing at 25,559.59, with 40 gainers and 48 losers.
Leading the gains, Thimar Development Holding Co. rose 6.01 percent to SR45.50, while Saudi Fisheries Co. rose 4.21 percent to SR87.90.
Al-Andalus Property Co., Cenomi Retail, and Saudi Enaya Cooperative Insurance Co. advanced 3.90 percent, 3.88 percent, and 2.86 percent, respectively.
On the downside, Marketing Home Group for Trading Co. fell 5.66 percent to SR73.30, followed by Taiba Investments Co. down 4.37 percent and Alahli REIT 1 sliding 2.74 percent.
On the announcements front, Dr. Soliman Abdel Kader Fakeeh Hospital Co. secured two Islamic credit facilities totaling SR720 million to support operations and growth, including SR570 million with Saudi National Bank and SR150 million with Saudi Awwal Bank. Shares of Fakeeh Care closed slightly higher at SR39.86.
Ataa Educational Co. reported a 31 percent rise in net profit to SR82.8 million for the year ending July 31, 2025, up from SR63.4 million the previous year.
Revenue grew 0.63 percent to SR640.7 million, while operational profit increased 6.57 percent to SR147.7 million, driven by higher student enrollment, increased non-recurring revenues, and a significant reduction in losses from discontinued operations. Shares of Ataa rose 1.46 percent to SR62.45.
Manufacturing was biggest recipient, drawing SR35.12 billion
Wholesale and retail trade, including motor vehicle repair, attracted SR18 billion
Updated 04 September 2025
Nirmal Narayanan
RIYADH: Foreign direct investment inflows into Ƶ rose 24 percent in 2024 to SR119 billion ($31.7 billion), even as global FDI slowed, official data showed.
According to the General Authority for Statistics, manufacturing was the biggest recipient, drawing SR35.12 billion and accounting for 29 percent of total inflows.
Under Vision 2030, the Kingdom aims to attract $100 billion in FDI annually by the end of the decade as part of efforts to diversify away from crude revenues.
Commenting on the latest performance, Investment Minister Khalid Al-Falih said: “The results of foreign direct investment in the Kingdom for 2024 come against the backdrop of global economic challenges and a slowdown in the growth rates of global direct investment flows internationally, which reflects the Kingdom’s ability to face all economic challenges,” according to the Saudi Press Agency.
In an X post, the Ministry of Investment said inflows in 2024 surpassed the National Investment Strategy’s annual target of SR109 billion. It added that Ƶ has exceeded its FDI goals for four consecutive years, with annual targets set to climb from SR140 billion in 2025 to SR388 billion by 2030.
Wholesale and retail trade, including motor vehicle repair, attracted SR18 billion, or 15 percent, followed by construction at SR17.51 billion, and financial and insurance activities at SR16.19 billion. Professional, scientific and technical activities accounted for SR9.81 billion.
The information and communication sector received SR6.34 billion, while mining and quarrying drew SR5.15 billion. Transportation and storage attracted SR5.06 billion, followed by administrative and support services at SR1.58 billion, and accommodation and food services at SR1.10 billion.
According to GASTAT, FDI outflows surged to SR39 billion in 2024 from SR10 billion a year earlier. Net inflows fell 6 percent to SR80 billion. The Kingdom’s FDI stock reached SR977 billion at year-end, up 9 percent from 2023.
By stock volume, the UAE led with SR161 billion in 2024, followed by Luxembourg with SR101 billion, and France with SR69 billion.
Ƶ attracted SR18.38 billion in new inflows from the UAE, SR14.94 billion from Germany, and SR14.65 billion from the US. In terms of net inflows, the US ranked first with SR11 billion, followed by the UAE with SR9 billion.
Gold rush in the Gulf: UAE’s reserves soar in 2025
In Dubai, the price of 22-karat gold rose by 15.25 UAE dirhams per gram last week
While official sector demand continues to rise, consumer demand in the UAE has shown mixed trends
Updated 04 September 2025
Dalya Al Masri
DUBAI: Gold is having a moment, again. Because when the world gets messy, investors reach for the metal that never flinches.
The Central Bank of the UAE increased its gold reserves by nearly 26 percent in the first five months of 2025, bringing total holdings to $7.9 billion, as global economic uncertainty and geopolitical tensions continue to drive demand for safe-haven assets.
According to data released by the central bank in its May 2025 bulletin, gold reserves rose from $6.255 billion at the end of 2024, making it one of the most significant increases in recent years.
The move aligns with a global trend of increased gold accumulation by central banks amid rising inflation, currency volatility, and geopolitical risks.
The UAE’s reserves growth comes alongside a surge in international gold prices, which have increased approximately 33 percent year-to-date, reaching a record high of more than $3,500 per ounce.
In Dubai, the price of 22-karat gold rose by 15.25 UAE dirhams per gram last week — up from 376 dirhams to 391.25 dirhams, a 4.06 percent increase that brings it close to the 400 dirhams per gram threshold.
“This fits the global pattern we’ve seen over recent years, with gold used as a hedge against the dollar, interest rates, and geopolitical risks,” Noureldeen Al-Hammoury, chief market strategist at Squared Financial, told Arab News.
Al-Hammoury said that the UAE’s gold strategy appears to be a broader attempt to diversify its reserves and hedge against global financial instability:
“It signals diversification away from pure FX reserves and readiness for tail-risk liquidity needs — a classic insurance strategy amid uncertain cycles.”
Why gold now? Global reserve trends offer clues
According to the World Gold Council, central banks have been net buyers of gold for more than a decade, with annual net purchases averaging about 1,000 tonnes in the past three years, roughly double the average seen during the previous decade.
The WGC’s latest survey shows that 95 percent of central bank reserve managers expect global gold holdings to rise further over the next 12 months, while 43 percent plan to increase their own allocations.
“Central banks will still be one of the biggest drivers of gold’s performance, around 20 percent of annual demand,” Andrew Naylor, head of Middle East and Public Policy at the World Gold Council, told Arab News.
While official sector demand continues to rise, consumer demand in the UAE has shown mixed trends.
WGC data for the first half of 2025 indicates a 16 percent year-on-year decline in demand for gold jewelry, while demand for gold bars and coins surged by 25 percent, pointing to increased investment activity.
UAE’s evolving role in global gold markets
Although the UAE has historically not been among the world’s top official sector buyers, it has positioned itself as a major gold trading hub, surpassing the UK to become the second largest globally. In 2023, the UAE handled more than $129 billion in gold trade.
The UAE’s growing reserves could influence broader institutional behavior in the region, said Prashant Tandon, CEO of investment firm Lighthouse Canton.
“We may see more capital flow into gold-linked instruments, not in isolation, but as part of a broader trend toward alternative assets that provide resilience against systemic shock.”
Implications for monetary policy and strategy
Analysts say the accumulation of gold by the UAE Central Bank reflects a long-term strategy aimed at increasing financial resilience.
“Investment demand is driving gold’s increase. It’s primarily an investment story,” said Naylor, noting the central bank purchases serve not only as financial hedges but as confidence signals during periods of economic instability.
The shift also coincides with growing interest in de-dollarization, as emerging economies look to reduce their dependence on the US dollar.
Conflicts in the Middle East, the ongoing war in Ukraine, and trade tensions with the US have further motivated sovereign wealth funds to diversify into gold and alternative assets.
“The US’s increasingly assertive use of the dollar as a policy and negotiating tool has accelerated this trend, encouraging sovereigns to seek greater autonomy,” Tandon said.
Will the UAE continue buying?
It is not clear whether the UAE will continue expanding its gold reserves at this pace.
In 2021, central banks added 463 tonnes of gold globally, marking a return to net purchases following the uncertainty of the COVID-19 pandemic.
However, the scale of future buying is expected to be moderate.
“We probably won’t see the record buying that we’ve seen in recent years,” Naylor explained, but said gold remains a core component of central bank reserves due to its performance during times of uncertainty.
Still, analysts say a shifting macroeconomic environment could influence future reserve strategies.
As gold prices continue to climb, investors are digging in, but regular consumers are still on the fence.
“As long as real yields stay contained and geopolitics remain uncertain, dips in gold prices should find support,” said Al-Hammoury at Squared Financial.
Investments to create jobs across energy, financial services, and professional sectors
Updated 03 September 2025
Arab News
RIYADH: Ƶ and the UK are set to strengthen their economic ties through more than £360 million ($445 million) in joint investments, Business Secretary Jonathan Reynolds said on Wednesday.
The British official was speaking at the Great Futures Summit in London, a high-profile gathering of C-suite executives aimed at boosting trade and unlocking growth opportunities between the two countries.
The new investments are expected to generate 187 jobs, including 97 in the UK, focusing on clean energy, professional, and financial services sectors. Reynolds highlighted that the summit offers a platform for collaboration aligned with the UK’s modern Industrial Strategy and Ƶ’s Vision 2030, demonstrating the countries’ commitment to shared economic growth.
Significant investments into the UK include Alfanar establishing its new headquarters in London as a global hub for transport decarbonization, and International Investment Gate opening its European headquarters in the capital to manage UK assets and a new property fund.
HIGHLIGHTS
Projects expected to create 187 jobs: 97 in the UK and 90 in Ƶ, spanning clean energy, professional services, and financial sectors.
Key UK investments include Alfanar’s £94 million London HQ for transport decarbonization; IIG’s £550 million UK assets and £60 million property fund.
Key Saudi projects include Howden reinsurance business, Control Risks regional HQ, and Salica Investments’ $75 million MENA fund.
The Alfanar office will deliver £94 million of investment, creating 80 skilled jobs to support the £2 billion Lighthouse Green Fuels project in Teesside, which is set to become the world’s largest sustainable aviation fuels facility.
Similarly, IIG’s London office will oversee £550 million of UK assets and a £60 million property fund, creating new professional opportunities.
The partnership also extends to Ƶ, where companies such as Howden are launching a reinsurance business, potentially creating up to 30 jobs, and Control Risks is establishing a regional headquarters in Riyadh to employ more than 50 people while developing local talent.
Venture capital firm Salica Investments is launching a second $75 million MENA-focused fund, following the success of its $50 million Salica Oryx Fund I, which has already supported 13 early-stage technology companies operating in Ƶ. Payment technology provider Paymentology has also established operations in Riyadh, committing $7.5 million toward local hiring and infrastructure to support the Kingdom’s fintech ambitions.
Education and skills development form another key pillar of the partnership. Over 10 new initiatives are being launched to support human capability development in Ƶ, including Cambridge University Press and Assessment opening an office in Riyadh to advance educational transformation. These efforts are part of a broader strategy to foster long-term prosperity and strengthen the bilateral relationship.
Reynolds said: “Britain is a thriving business hub, and today’s new investment announcements are not only a major vote of confidence in our economy but demonstrate our thriving partnership with Ƶ.
“Our modern Industrial Strategy is giving investors the confidence they need to plan not just for the next year, but for the next 10 years and beyond — helping to create economic growth as part of our Plan for Change.”
Since the launch of the Great Futures campaign in May 2024, the UK-Saudi partnership has already yielded significant milestones. Ƶ has raised $39.2 billion via the London Stock Exchange in 2025, and the Public Investment Fund completed a 15 percent acquisition of Heathrow Airport.
Other successes include a joint venture between UK sustainability fintech World Wide Generation and Rawabi Holding under the initiative, SURJ Sports Investment acquiring a minority stake in sports streaming giant DAZN, and HSBC Ƶ relocating its headquarters to Riyadh’s King Abdullah Financial District. UK academic institutions are also expanding in Ƶ, with the University of Strathclyde and London Business School planning physical offices in the Kingdom. Nearly £500 million worth of contracts from Saudi giga-projects have been awarded to UK firms since the campaign began.
Speaking on the occasion, Saudi Commerce Minister Majid Al-Qasabi said: “The Saudi-British Strategic Partnership Council stands as a key platform for deepening economic ties between the two friendly nations.
“Today’s Great Futures Leadership Summit represents a defining moment in our strategic partnership with the United Kingdom, demonstrating how Vision 2030 and the UK’s Industrial Strategy create unprecedented opportunities for mutual prosperity.”
British Ambassador to Ƶ Stephen Hitchen said: “As my first major diplomatic engagement as ambassador to Ƶ, today’s summit perfectly captures the strength of the relationship between our two kingdoms — from groundbreaking innovation bridges to our transformative partnerships in clean technology, we’re building something far deeper than trade statistics, we're creating lasting bonds rooted in shared vision and mutual respect that will define our relationship for generations to come.”
The summit coincides with the UK government’s launch of both the Industrial and Trade Strategies this summer, as negotiations continue on a modern trade deal with the Gulf Cooperation Council. The deal is expected to increase trade between the nations by 16 percent, add £1.6 billion annually to UK’s gross domestic product, and contribute an additional £600 million to UK workers’ wages in the long term.
Global oil markets at critical point amid investment gap, says Arab Energy Organization chief
Global oil demand forecast to grow 680,000 barrels per day in 2025, 700,000 barrels per day in 2026
Oil exploration and production investments this year expected to total about $480.6 billion
Updated 03 September 2025
Ghaleb Darwesh Independent Arabia
Global oil markets are at a “critical turning point” as low investment, economic uncertainty, and rising crude supplies deepen what industry leaders describe as the “triple energy challenge,” according to a top Arab energy official.
In an interview with Independent Arabia, Jamal Al-Loughani, secretary-general of the Arab Energy Organization, formerly OAPEC, said that geopolitical and trade tensions, coupled with shifting economic policies, are weighing on global oil demand, even as production climbs.
“Global oil markets are currently witnessing a critical turning point, especially in light of the uncertainty surrounding the global economy,” Al-Loughani said.
He pointed to a range of macroeconomic and geopolitical risks, including signs of slowing growth in China, volatility in US trade policy, weak economic growth in Europe, and tensions in key production regions.
He said that escalating conflicts in the Middle East drove futures prices above $80 a barrel in mid-June — their highest since early 2022 — before easing after a ceasefire agreement.
“This comes in addition to the ongoing Russian-Ukrainian crisis, the associated targeting of energy infrastructure, and the tightening of Western sanctions imposed on Moscow,” Al-Loughani added.
Rising demand, tight supplies
Global oil demand is forecast to grow by 680,000 barrels per day in 2025 and 700,000 barrels per day in 2026, reaching 104.4 million barrels a day, according to the International Energy Agency.
Non-member nations of the Organization for Economic Co-operation and Development — led by India, other Asian economies, the Middle East, and Africa — are expected to drive most of the gains, while demand in OECD countries is projected to decline by about 8.5 million barrels a day over the same period.
Current estimates put global crude demand growth at roughly 1.2 million barrels a day in the third quarter of 2025, bringing total demand to around 105.5 million barrels a day, Al-Loughani said.
Secretary-General of the Arab Energy Organization Jamal Al-Loughani warned that a lack of investment poses the most significant risk to the market. OAPEC
He expects supplies to expand as OPEC+ gradually raises output, though production from non-OPEC+ countries is projected to drop to about 53.8 million barrels per day. Despite slight increases, oil inventories remain below the five-year average, underscoring what he called “strong market fundamentals.”
The secretary-general also said that these factors drove the average price of the OPEC crude basket to about $71 per barrel in July, its highest level in four months, while Brent and West Texas Intermediate futures are now trading steadily between $65 and $70 per barrel.
Investment gap
Al-Loughani warned that a lack of investment poses the most significant risk to the market.
“The lack of global investment in oil projects is the most pressing challenge, affecting not only member states but the world at large, as it exacerbates the ‘triple energy challenge’ of balancing energy security, sustainability, and affordability,” he said.
Oil exploration and production investments this year are expected to total about $480.6 billion, leaving a gap of more than 16 percent compared with the $596.5 billion needed annually to meet growing demand through 2050.
He added that global oil demand is projected to reach about 105.1 million barrels per day in 2025, though it remains subject to uncertainty stemming from China’s economic slowdown and disruptions in US trade policy.
OPEC+ strategy
The secretary-general highlighted the role of OPEC+, which includes six AEO member states, in maintaining stability since the alliance was formed in 2016.
He said the group’s 2025 strategy emphasizes production discipline while adopting a “flexible, interactive” approach to changing market dynamics.
Barring major disruptions, global oil markets are set to be well supplied over the next 5 years, with production capacity growth outpacing the increase in demand
But significant uncertainties remain amid geopolitical & economic risks
More in Oil 2025
— International Energy Agency (@IEA)
The latest move — a decision by Ƶ, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman — will see the alliance raise production by 547,000 barrels per day in September, with the option to adjust output in response to shifting conditions.
Al-Loughani underscored that deeper cooperation among Arab oil producers and international partners remains vital.
“He noted that this cooperation proved effective during the COVID-19 pandemic, playing a key role in quickly restoring market balance and preventing prolonged collapses in oil prices,” according to Independent Arabia.
US energy policy shift
Al-Loughani also addressed recent shifts in US energy policy under President Donald Trump’s second term, describing measures aimed at boosting domestic production.
He said the changes included declaring a national energy emergency to speed up the implementation of oil and gas infrastructure projects through the executive order “America’s Energy Launch,” aimed at boosting local energy resources at affordable and reliable prices by removing regulatory barriers, easing environmental restrictions, and rolling back support for renewable energy.
He added that July’s passage of the “One Big Beautiful Bill” reduced federal royalty rates, simplified drilling permits, extended their validity to four years, opened more federal lands for drilling, and eliminated methane fees imposed by the Inflation Reduction Act.
The law also approved wellbore commingling — producing crude from multiple reservoirs through a single well — enabling more efficient and cost-effective output.
“However, Al-Loughani stated that these policy changes have not yet significantly impacted shale oil production, although they could enable approximately 225 new leases and 160 additional wells in 2026,” Independent Arabia reported.
