JPMorgan’s Managing Director and Co-Head of Equity Capital Markets for EMEA and APAC, Aloke Gupte, stated that the initial public offering (IPO) pipeline in the Gulf Cooperation Council (GCC) is set to continue progressing, even with current global market turbulence. While some IPOs may experience slight delays, Gupte believes that the momentum will still outpace...
A memorandum of understanding (MoU) has been signed between the Gulf Cooperation Council (GCC) and Peru, reflecting the GCC’s commitment to strengthening its international relations, according to the bloc’s chief. Jassim Al-Budaiwi made this announcement following discussions with Peru’s Foreign Minister Elmer Schialer, describing the agreement as a significant step towards enhanced political and economic...
Gulf Cooperation Council (GCC) countries accounted for over 35 percent of all emerging-market (EM) U.S. dollar debt issued in the first quarter of 2025, excluding China. This represents an increase from approximately 25 percent in 2024, according to a report by Fitch Ratings. Fitch predicts that this upward trend in GCC debt capital markets (DCMs)...
The United Arab Emirates has achieved the highest representation of women on public company boards in the Gulf Cooperation Council (GCC), reaching 14.8 percent as of January 2025. This figure translates to 185 out of 1,248 board seats, a significant rise from 10.8 percent in 2024, representing a 37 percent increase. According to the ‘GCC...
Saudi Arabia has introduced a new Value Added Tax (VAT) refund policy for tourists, which became effective on April 18, 2024. This initiative allows international visitors to reclaim the 15% VAT paid on eligible goods and services during their stay, marking a significant move to enhance the country’s appeal to global travelers. The Zakat, Tax...
The Secretary General of the Gulf Cooperation Council (GCC), Jasem Al-Budaiwi, met with Shan Zhongde, the Director of the China Atomic Energy Authority, to explore opportunities for enhancing cooperation in the peaceful use of nuclear energy. This meeting occurred on the sidelines of the first GCC-China Forum on Peaceful Uses of Nuclear Technology, which took...
Creative Zone Group, a corporate service provider established in Dubai in 2010 by Steve Mayne and Mahesh Dalamal, has been acquired by Encor Group, which is headquartered in Hong Kong. The financial details of the acquisition have not been disclosed. As part of this transition, all shareholders have completely exited and are no longer involved...
Bahrain’s Khaleeji Bank has introduced Visa+, a new service that allows users to send money to Visa cardholders in the Gulf Cooperation Council (GCC) using only the recipient’s mobile number. This initiative positions Khaleeji Bank among the first financial institutions to offer such a service, showcasing the market’s readiness for advanced financial solutions. With Visa+,...
Majid Al Futtaim has announced plans to significantly expand its luxury retail presence in the Gulf Cooperation Council (GCC) in 2025, following a record-breaking 2024 that saw a 26 percent increase in revenue. This expansion reflects the company’s commitment to enhancing its portfolio of luxury brands in the region. The new stores will feature well-known...
Al Ansari Financial Services PJSC (AAFS), an integrated financial services group in the UAE and parent company of Al Ansari Exchange, has successfully finalized its acquisition of BFC Group Holdings (BFC). This deal, valued at USD 200 million, positions AAFS as the largest non-banking financial institution (NBFI) in the Gulf Cooperation Council (GCC) region, particularly...