Oman Projects 3.4% Economic Growth for 2025

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, and Ghaf Labs, a MENA-based Web3 boutique advisory and consultancy firm, have signed a Memorandum of Understanding (MOU) to enter a multi-year strategic partnership. The alliance aims to drive crypto adoption, ecosystem development, and real-world utility across the Middle East and North Africa (MENA).

This partnership underscores a shared mission to position the region as a global Web3 hub by enabling innovation, supporting regulatory clarity, and fostering meaningful use cases that integrate blockchain into daily life.

Ecosystem Growth and Startup Acceleration

Ghaf Labs, backed by Ghaf Capital Partners—Dubai’s pioneering blockchain-focused private capital firm—offers tailored advisory and incubation services to Web3 ventures across MENA. With its strong regional network and regulatory insight, Ghaf Labs plays a key role in scaling blockchain projects in one of the fastest-growing digital economies.

Together, Bybit and Ghaf Labs will provide equity-free grants, startup support, and access to strategic resources for ventures exploring blockchain, AI, and sustainability—sectors central to the region’s digital transformation.

“Our partnership with Ghaf Labs is rooted in a shared vision for the MENA region — one where crypto isn’t just adopted, but lived,” said Helen Liu, COO of Bybit. “From developer tooling to lifestyle integration, we’re building the bridges that bring crypto into everyday life.”

Investing in Talent and Community

The collaboration will also launch a series of education initiatives designed to nurture local Web3 talent. These include university partnerships, bootcamps, and developer hackathons, all aimed at empowering the next generation of blockchain builders.

Additionally, both parties will co-develop educational content to improve Web3 literacy across Arabic- and English-speaking communities in the region.

“This partnership with Bybit reflects our shared commitment to advancing Web3 infrastructure, education, and institutional engagement across the MENA region. Together, we aim to accelerate innovation and continue to position the UAE as a global hub for digital assets.”
said Feras Al Sadek, Co-Founder and Managing Partner at Ghaf Labs.

Lifestyle, Payments, and Cultural Impact

Beyond development, the partnership highlights the real-world utility of crypto through lifestyle applications like the Bybit Card. This product connects digital assets with premium experiences, including exclusive access through partners such as Grand Millennium Hotels in Dubai—demonstrating the role of crypto in elevating travel, luxury, and everyday spending.

The alliance will also elevate the regional event scene, co-branding marquee events like The Crypto Polo Cup and Crypto Fight Night. These gatherings merge luxury, sport, and Web3 culture to amplify awareness and engagement.

With this MOU in place, Bybit and Ghaf Labs will jointly explore innovation funding, institutional integration, and blockchain-powered use cases across finance, hospitality, education, and beyond—contributing to a resilient Web3 infrastructure in MENA.

This strategic collaboration reinforces the UAE’s status as a forward-thinking jurisdiction and reflects Bybit’s long-term investment in the region’s digital future.

Aramco, one of the world’s leading integrated energy and chemicals companies, has announced a net income of $26 billion for the first quarter of this year (Q1), compared to $27.3 billion in Q1 2024.

The company’s robust financial performance highlights reliability, efficiency and low-cost operations, Aramco said.

Cash flow from operating activities was $31.7 billion (Q1 2024: $33.6 billion); free cash flow was $19.2 billion (Q1 2024: $22.8 billion). Gearing ratio was 5.3% as at March 31, 2025, compared to 4.5% at end of 2024.

Board declared a base dividend of $21.1 billion for Q1 2025, up 4.2% year-on-year, and performance-linked dividend of $0.2 billion, to be paid in the second quarter.

The company’s capital expenditures totaled $12.5 billion in Q1 to support long-term strategic growth, it said.

It said the Ministry of Energy announcement of new oil and gas discoveries reflects sustained advantage in exploration.

The company average realized crude oil price in the quarter was $76.3 per barrel, compared to $83 per barrel in Q1 2024 and $73.1 per barrel in Q4, 2024.

Other Q1 highlights:

* Definitive agreements to acquire 25% equity stake in Unioil Petroleum Philippines support strategic growth in downstream value chain

• Completed acquisition of 50% equity interest in Blue Hydrogen Industrial Gases Company aims to capitalize on emerging opportunities for lower-carbon energy

• Launch of CO2 Direct Air Capture pilot plant paves way for further scale up of innovative emission-reduction technology

Commenting on the results, Aramco President & CEO Amin H Nasser said:

“Global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices. In this context, Aramco’s robust financial performance once again demonstrated the Company’s unique scale, its reliability and flexibility, the value of its low-cost operations, and its emphasis on efficiency and advanced technology.

“Such periods also highlight the importance of disciplined capital planning and execution while we continue to take a long-term view. In volatile times Aramco’s resilience underpins both our financial performance and our sustainable and progressive base dividend.

“With all forms of energy key to meeting energy demand we continue to advance our growth strategy across Upstream, Downstream and New Energies, while working to reduce emissions. Our ambition is reflected in milestones already announced in 2025, including progress towards our gas production growth target, our global retail expansion, the advancement of our petrochemicals strategy, headway in blue hydrogen business development, and further innovation in carbon capture.”

The Emirates Group today released its 2024-25 Annual Report, achieving new record profit, EBITDA, revenue, and cash balance levels. This outstanding performance places the Emirates Group as the most profitable aviation group globally in the 2024-25 reporting period, with Emirates reporting the best result in its history to become the world’s most profitable airline.

Both Emirates and dnata contributed record revenues in 2024-25, as the Group expanded its operations around the world to meet voracious customer demand for its high-quality products and services.

For the financial year ended 31 March 2025, the Emirates Group reported:

• record profit before tax of AED 22.7 billion (US$ 6.2 billion), up 18% from last year
• record revenue of AED 145.4 billion (US$ 39.6 billion), up 6% over last year’s results
• record level of cash assets at AED 53.4 billion (US$ 14.6 billion), up 13% from last year
• highest-ever EBITDA of AED 42.2 billion (US$ 11.5 billion), up 6%, demonstrating its strong operating profitability

Emirates earns its place as the world’s most profitable airline, reporting:

• record profit before tax of AED 21.2 billion (US$ 5.8 billion), up 20% from last year
• record revenue of AED 127.9 billion (US$ 34.9 billion), an increase of 6% over last year
• highest-ever level of cash assets at AED 49.7 billion (US$ 13.5 billion), 16% higher compared to 31 March 2024.

dnata delivered solid growth and performance across its business units, reporting:

• record profit before tax of AED 1.6 billion (US$ 430 million), up 2% from last year
• record revenue of AED 21.1 billion (US$ 5.8 billion), up 10%
• strong cash assets of AED 3.7 billion (US$ 1.0 billion).

The Group declares a dividend of AED 6.0 billion (US$ 1.6 billion) to its owner, the Investment Corporation of Dubai (ICD).

This is the first financial year that the UAE corporate tax, enacted in 2023, is applied to the Emirates Group. After accounting for the 9% tax charge, the Group’s profit after tax is AED 20.5 billion (US$ 5.6 billion).

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said: “It is no accident that Dubai has produced hugely successful global aviation entities including Emirates and dnata. Dubai’s aviation sector has become an influential force on the global stage thanks to visionary leaders, strategic planning, coordinated execution, and strong support from our customers, business partners, and all the people of Dubai.

“When the government set up Emirates 40 years ago and we began expanding dnata’s capabilities to support the city’s growth, we had a clear mission – be the best at what we do; and deliver value to Dubai, our stakeholders, and the communities we serve.

“With that in mind, we’ve kept a laser focus on providing great products and services, and we continually invest in technology and talent to increase our competitive edge. We look after our people and our customers, and we work hard to positively impact our communities. We don’t cut corners, and we don’t take shortcuts that put our future at risk for short term gains. By building our business models around these principles and Dubai’s unique strengths, the Emirates Group has thrived and stayed resilient through geo-political and socio-economic challenges over the years.”

HH Sheikh Ahmed added: “For 2024-25, the Emirates Group has raised the bar to set new records for profit, revenue, and cash assets. Through the year, Emirates and dnata were able to move quickly to meet the strong demand for air transport services across markets and win over customers – thanks to our non-stop investments in our people, in building partnerships, and in delivering great products and services.

“I’d like to thank our amazing people at the Emirates Group for achieving another record year, and our customers and partners for their trust and support. My gratitude to Dubai’s visionary leaders HH Sheikh Mohammed bin Rashid Al Maktoum, and his sons HH Sheikh Hamdan and HH Sheikh Maktoum, for their continued leadership and stewardship of Dubai’s strategy, in which the Emirates Group is proud to play a key role.”

In 2024-25, the Group collectively invested AED 14.0 billion (US$ 3.8 billion) in new aircraft, facilities, equipment, companies, and the latest technologies to support its growth plans.

The Group’s total workforce grew by 9% to 121,223 employees, its largest size ever, as Emirates and dnata continued recruitment activity around the world to support its expanding operations and boost its future capabilities.

Commenting on the outlook for 2025-26, Sheikh Ahmed said: “We enter the year ahead with excitement and optimism. Our excellent financial standing enables us to continue building on and scaling up from our successful business models. While some markets are jittery about trade and travel restrictions, volatility is not new in our industry. We simply adapt and navigate around these challenges.

“Emirates will strengthen our network connectivity with the expected delivery of 16 A350s and 4 Boeing 777 freighters in 2025-26, providing much-needed capacity to meet customer demand. Our retrofit program will continue apace to provide our customers the latest Emirates products and a more consistent experience across our A380, 777 and A350 fleet.

“dnata is on a steady growth path with facility investments coming to fruition in key markets, including the opening of new facilities in Amsterdam, Dubai and Erbil next year which will significantly expand our cargo handling capacity and capabilities.

“Work is already underway at the new Al Maktoum International airport (DWC) and broader development around Dubai South. Our planning teams are working closely with Dubai airports and other entities to design and deliver the future of aviation and the best possible travel experiences.

“We’ve set high targets for ourselves, but I am confident that our talented workforce and Dubai’s winning formula will empower the Emirates Group to forge an even brighter future, and deliver even more value to the people, cities and communities we serve.”

Dubai Investments PJSC, the leading diversified investment company listed on the Dubai Financial Market, reported profit before tax of AED 185 million for the three-month period ended March 31, 2025, representing a 52% increase compared to AED 122 million during the same period last year.

The profit growth is primarily driven by higher rental income underpinned by stable occupancy levels under the property segment.

Capitalizing on this positive trajectory, the Group delivered a solid overall performance in Q1 2025, with total income rising to AED 823 million, up from AED 792 million in the same period last year. As of March 31, 2025, total assets grew to AED 22.27 billion as compared to AED 22.10 billion as of 31st December 2024.

Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, commented: “Dubai Investments’ strong performance in Q1 2025 is a clear reflection of the Group’s strategic vision and the resilience of its diversified portfolio. The real estate sector continues to be a significant driver of the Group’s profitability, and Dubai Investments expects this momentum to continue given the strong real estate demand in the UAE. As a Group, Dubai Investments is committed to growth within the real estate sector while also focusing on other business verticals to meet industry demands and achieve sustainable growth.”

Building on this strong start to the year, Dubai Investments is poised to accelerate growth in the real estate sector through the delivery of key projects and strategic expansions. The upcoming handover of the first phase of Danah Bay on Al Marjan Island, Ras Al Khaimah, the continued progress of Violet Tower at Jumeirah Village Circle, in Dubai slated for completion in Q4 2026, and the recent launch of Asayel Avenue as part of the Mirdif Hills project in Dubai, underscores the Group’s commitment to delivering high-quality, mixed-use developments. The growth of Al Mal Capital REIT also remains central, reinforcing its role as a steady source of dividend income. With developments advancing on schedule and new projects in the pipeline, Dubai Investments is actively consolidating its position in the real estate space. In parallel, the Group is exploring opportunities across other verticals to diversify its income streams, enhance market presence, and deliver long-term, sustainable returns.

Dubai Investments PJSC

Dubai Investments is a publicly listed UAE based multi-asset investment Group, managing a diverse portfolio of businesses, generating sustainable financial returns to its shareholders. Established in 1995, Dubai Investments is one of the leading investments Group in the UAE, initiating new businesses and partnering with dynamic entities, creating strategic investment opportunities across the region. With 15,956 shareholders, a paid-up capital of Dhs. 4.25 billion and total assets worth more than Dhs. 22 billion, the Group applies insight and experience to expand and be a reliable growth driver for businesses within sectors like real estate, manufacturing, healthcare, education, investments and services. The Group’s diverse portfolio consists of wholly and partly owned companies and reflects the Company’s continued focus on business diversification to drive growth in line with evolving industry trends.

Focused on leveraging strengths with an interest in establishing existing and new business opportunities with a long-term, strategic and creative approach and with an emphasis on sustainable returns and capital growth, Dubai Investments collaborates on investment strategies meeting the changing needs of the economy and the societies in which it operates. Complementing the strategic objectives and creating value for stakeholders, the Group pursues growth through mergers and acquisitions and business expansions.

In line with efforts to strengthen cross-border partnerships and drive economic growth, the Abu Dhabi Chamber of Commerce & Industry (ADCCI) hosted public and private sector leaders at the Abu Dhabi–Japan Business Connect Forum in Tokyo in presence of the UAE Ambassador to Japan, H.E. Shihab Al Faheem to explore key investment opportunities and exchange ideas on advancing sustainable development and innovation.

Addressing the Forum, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADCCI, said: “Japan has played a pivotal role in shaping our development, from urban planning to industrial growth, and it remains one of our top trading partners.” H.E. noted that UAE’s trade with Japan has grown at a compound annual growth rate (CAGR) of 11.9% over the past five years. During the same period, the UAE’s investments in Japan more than doubled, while the country attracted over 80 percent of all Japanese investments in the Middle East.

H.E. added: “Our advanced infrastructure, business-friendly ecosystem, smart city and quality of life initiatives have helped us attract global talent, entrepreneurs, and investors. Trade has been a key enabler of this economic growth,” pointing to Abu Dhabi’s strong track record in economic diversification. H.E. noted that non-oil trade rose by 9% in 2024, while non-oil exports surged by 86.4% during the same period.

H.E. also emphasized the importance of regulatory reforms, improved ease of doing business, and seamless digital integration to global business, while working closely with Japan to build a future that empowers economies, enriches societies, and inspires future generations.

During the event,  ADCCI and the Japan External Trade Organization (JETRO) signed a Memorandum of Understanding (MOU) to deepen business relations and create new opportunities for collaboration between Abu Dhabi and Japan, reinforcing a shared vision for promoting long-term trade and sustainable growth, particularly in innovation, sustainability, and advanced technologies.

The MOU was signed by H.E. Shamis Al Dhaheri, Second Vice Chairman and Managing Director of ADCCI, and Nobuyuki Nakajima, Managing Director of JETRO MENA, in the presence of the UAE Ambassador to Japan, H.E. Shihab Al Faheem — marking the start of a new phase of collaboration.

H.E. Shamis said: ” The MOU with JETRO marks a key step in deepening economic ties between Abu Dhabi and Japan, while the forum provides a valuable platform to drive investment, foster innovation, and build sustainable partnerships across key industries. By aligning around our shared values — growth, sustainability, and technological progress — we are not only unlocking new business opportunities, but also contributing to a more connected and prosperous global economy.”

Mr. Nakajima echoed the sentiment, adding: “This is a significant milestone in enhancing the economic partnership between Japan and the UAE. Japan is committed to expanding its collaboration with the UAE, and this offers an invaluable opportunity to explore new investment avenues and foster mutually beneficial business relationships. As both nations focus on innovation, sustainability, and digital transformation, we are confident that this event will pave the way for groundbreaking partnerships that will shape the future of both our economies.”

When markets turn gloomy, gold often shines. Investors call gold a “safe haven” because it tends to hold its value, or even increase, during uncertain or volatile periods. Gold has historically had a low or negative correlation with traditional assets like stocks and bonds. That means when stocks are falling, gold often outperforms, helping cushion portfolio losses. This diversification benefit is one of the key reasons why gold is often suggested as part of a balanced portfolio.

In recent years, a new contender has entered the scene: Bitcoin. Often dubbed “digital gold,” Bitcoin has attracted a following of investors who see it as the modern equivalent of gold—a store of value and hedge against fiat currency debasement. Both gold and Bitcoin share some similarities: neither is tied to a company’s earnings or bond interest payments, and both have limited supplies (gold by nature, Bitcoin by code).

The first major difference between them is volatility. Gold has earned its safe-haven reputation over centuries, whereas Bitcoin is still arguably in its infancy and has behaved more like a high-risk asset throughout its history. If your primary aim is portfolio insurance and stability during crises, gold’s long history and lower volatility make it the more reliable choice. Bitcoin is more of a speculative diversifier; it might play a role in a portfolio, but it’s not a proven safe haven in the way gold is.

As institutional adoption grows and regulatory clarity improves, bitcoin and crypto are gradually alleviating their purely speculative image and growing toward mainstream acceptance as assets that deserve a place in investment portfolios.

This built-in scarcity underpins the idea that Bitcoin should hold its value when inflation erodes the purchasing power of dollars. Over the past decade, Bitcoin’s price appreciation has well outpaced inflation. However, in 2022, when inflation in the U.S. and Europe hit decade highs, bitcoin’s price fell 65% for the year, even as gold stayed roughly flat. At the same time, bitcoin has also outperformed gold, but not without its ups and downs, which aren’t for the faint-hearted. 

Some younger investors with a high-risk tolerance and long-time horizon might favor Bitcoin or high-growth stocks as their “alternative” asset and skip gold entirely. In my experience, the question of gold in a portfolio often comes down to this: Does it help you stay disciplined and calm? If knowing you have a bit of gold helps you not panic-sell your stocks in a downturn because you see something in your portfolio holding value, then gold is doing its job.

For now, investors see it bitcoin as a long-term store of value, not a safe haven. Bitcoin is a promising but still maturing asset, and a small allocation has proven that it can increase gains in a portfolio, but with a high level of volatility. However, it still falls short of the consistency that traditional hedges like gold offer. 

The Federal Tax Authority has today announced that it has begun implementing the UAE Cabinet Decision to exempt certain corporate taxpayers from administrative penalties resulting from the late submission of registration applications, within the specified deadline.

To qualify for the waiver of the penalty, the taxable person (or exempted categories) must submit their Tax Return (or Annual Declaration) within a period not exceeding seven (7) months from the end of their first Tax Period (or first Financial Year), instead of nine months.

The FTA further clarified that the exceptional condition for benefiting from the exemption by submitting the tax return (or the annual declaration) within a period not exceeding seven (7) months from the end of the tax period, applies only to the first tax period of the taxable person (or the exempt person required to register). This is regardless of whether the due date for submitting the first tax return (or first annual declaration) falls before or after the implementation of the new decision.

The Authority added that if a taxable person has paid the administrative penalty for late submission of the corporate tax registration application and meets the conditions for benefiting from the exemption, the paid penalty will be refunded, and the amount will be credited to the taxable person’s account with the Authority.

Likewise, registered persons who submitted their tax returns before the implementation of the exemption decision and were subject to a late submission penalty will also be exempted, and any penalties already paid will be credited back to their accounts with the Authority.

Commenting on the announcement, Khalid Ali Al Bustani, Director-General of the FTA, called on all unregistered corporate taxpayers to expedite the submission of corporate tax registration applications and tax returns via EmaraTax. He added that submissions should be made within the period specified by the Cabinet Decision to take advantage of the exemption.

Aligned to the Cabinet Decision, FTA’s core strategy has been structured around expediting tax procedures for all business sectors and to encourage voluntary compliance with tax laws.

“Widespread compliance is a key and contributing element in promoting economic growth and the FTA remains committed to full transparency in relation to a flexible and constantly updating tax legislative environment,” he said.

Praising the high turnout of corporate tax registrations during the first quarter of 2025, he also revealed that the number of corporate tax registrations now exceeded 543,000. This reflects the growing awareness among business sectors of the importance of complying with tax procedures.

“The FTA is keen to continue communicating with all categories of business sectors through various awareness channels to help familiarise them with compliance procedures, explore their views, and formulate methods to overcome any challenges they may face,” he added.

Regarding the cases to which the exemption applies and how to benefit from the initiative, the FTA explained that, in general, the exemption applies to all persons subject to registration for corporate tax, regardless of whether the taxpayer applied for registration and was subject to an administrative fine for delaying registration within the specified deadline, or did not apply for registration.

The legal conditions for exemption are:
* If the taxpayer (or exempt person required to register) has been registered, but has been charged a late penalty and has not paid it, he or she must file the return (or annual return) within seven (7) months of the end of the first tax period (or first Financial Year) in order to be exempt from the delay penalty.
* If a taxpayer (or an exempt person who is required to register) has been registered, a late penalty has been imposed and paid, the taxpayer must file the return (or annual return) within seven (7) months of the end of the first tax period to be exempt from the late penalty. The amount paid will then be refunded to the taxpayer’s account.
* If a taxpayer’s registration application has not been submitted. In that case, the taxpayer (or exempt person required to register) must expedite the registration application and then submit the tax return (or annual declaration) within seven (7) months of the end of the first tax period or first financial year to be exempt from the late penalty.

Bitcoin is once again approaching its milestone price of $100,000, following a breakout from a consolidation phase around the $95,000 level. Last week, Bitcoin reached as high as $98,000, marking its highest price since mid-February. While the price has seen a slight pullback since then, the continued uptrend signals potential for another climb toward the $100,000 mark.

Simon Peters, Crypto Analyst at eToro, commented: “The $100K level is particularly significant for Bitcoin. Historically, it has acted as a strong resistance level. We saw substantial selling pressure when Bitcoin first reached $100,000 in November 2024, with the price quickly dropping to $90,000. Whether we will see a similar price action this time remains to be seen. However, the current sentiment and market dynamics provide some indications that Bitcoin may continue its rise.”

The Crypto Fear and Greed Index is currently above neutral, indicating that the market is not yet overbought, leaving room for further upward movement. Bitcoin’s price typically faces significant sell-offs when investor sentiment is dominated by “greed,” but the current index suggests that the market has not yet reached that level.

Additionally, institutional inflows into Bitcoin, reflected in the activity of spot ETFs, have been above average in the past week. Large whale investors and Bitcoin treasury companies are continuing to accumulate, signaling strong confidence in the market.

Federal Reserve Meeting and Interest Rate Decision

The upcoming interest rate decision and press conference from the U.S. Federal Reserve on Wednesday could provide further tailwinds to Bitcoin’s price. Recent data, including the Personal Consumption Expenditures (PCE) index and non-farm payrolls report, have reassured investors that inflation is slowing down and the labor market remains robust. The market will closely watch for any signals from Chairman Jerome Powell about potential rate cuts in June, which could positively affect Bitcoin and other cryptocurrency prices.

Ethereum ‘Pectra’ Upgrade

Ethereum’s upcoming upgrade, Pectra, is set to go live this Wednesday and is poised to enhance the scalability, usability, and efficiency of the network. The upgrade will also raise the staking limits for Ethereum validators from 32 ETH to 2,048 ETH, potentially locking up more supply and increasing the demand for Ether. This development comes at a crucial time for Ethereum, as its market dominance has recently dropped to 7%, the lowest level since September 2019.

The Pectra upgrade could drive more activity on the Ethereum network, creating upward pressure on Ether’s price and potentially increasing its market capitalization.

Biggest Movers: PENGU Soars 25%One of the biggest movers in the crypto space last week was PENGU, which saw a significant 25% price increase. The token, which is the official ecosystem currency of Pudgy Penguins, a popular collection of 8,888 unique NFTs, has surged 185% since hitting a low of $0.003715 on April 9th.

Eye-Catching Stories: Major Finance Platforms Enter Crypto

In a notable development for the crypto industry, Charles Schwab announced plans to launch spot cryptocurrency trading on its platform within the next 12 months. Initially, trading will focus on Bitcoin and Ethereum and will be available through Schwab’s think or swim platform before expanding to schwab.com and mobile apps.

Similarly, Morgan Stanley revealed plans to offer crypto trading services to its E-Trade clients within the next year. As more traditional financial institutions introduce crypto trading services, this may further legitimize the market and contribute to future price growth for Bitcoin and other cryptocurrencies.

Arab Developers Holding has unveiled an ambitious investment plan for 2025, aiming to inject EGP 3.25 billion into the Egyptian real estate sector—nearly double the EGP 1.7 billion invested in 2024. The announcement was made through a bourse disclosure on April 30th, signaling the company’s confidence in market growth and its commitment to accelerating project development.

The bulk of the 2025 investment will be allocated toward the ongoing construction of the company’s current portfolio of residential and mixed-use projects. This move aligns with Arab Developers’ strategy to enhance delivery timelines and capitalize on increasing demand for quality housing and integrated communities in Egypt.

As part of its 2025 goals, the company plans to deliver approximately 3,000 residential units across its various developments. It is also targeting contractual sales of EGP 7.6 billion, a significant increase from the EGP 4.6 billion achieved in 2024—underscoring strong market demand and a robust sales pipeline.

Despite challenging economic conditions, Arab Developers Holding remains focused on long-term growth. The EGX-listed company reported consolidated net profits attributable to the parent company of EGP 92.47 million in 2024, reflecting a 6.08% year-on-year decline. However, the planned surge in investments and delivery volume suggests a proactive approach to driving revenue growth and shareholder value in the coming year.

By doubling down on construction progress, boosting unit handovers, and expanding sales, Arab Developers Holding is positioning itself as a key player in Egypt’s evolving real estate landscape.

Kuwait Financial Centre “Markaz” released its Monthly Market Review report for April 2025. Kuwait equity market continues to be the top performer among GCC markets on year-to-date basis as of April 2025. However, during April, Kuwait markets were negative, in line with many global and regional markets. Kuwait’s All Share Index declined by 1.4% amid concerns over impact of trade tensions on economic outlook and oil prices. Consumer staples and real estate were the top gainers, rising by 6.3% and 4.9% respectively. The banking sector index declined by 1.9% for the month. Among Premier Market stocks, Gulf Cables and Kuwait Real Estate Company were the top gainers, rising by 12.5% and 11.2% respectively.   Gulf Cables announced that its subsidiary, Gulf Cable and Multi Industries Company has been awarded a tender for supplying copper and aluminum cables to Jordan Electric Power Company to the tune of KD 3.95 million (USD 12.91 million). This is likely to improve operational profit by 5% to 7% in 2025. Kuwait Real Estate Company had reported an 18.9% y/y increase in net profit in FY 2024 driven revaluation gains on investment properties. Its net rental income has also grown by 9.4% y/y amid strong demand and high occupancy levels.

IMF has lowered its estimate for Kuwait’s real GDP growth in April 2025 to 1.9% down from its December 2024 estimate of 2.6%, due to delayed unwinding of production cuts during the year. OPEC+ began unwinding production cuts in April 2025, while it had initially planned to start in October 2024. However, OPEC+ has announced plans to further increase its production in May 2025. According to the new plan, Kuwait would be producing 2.443 million bpd, up from the earlier planned 2.428 million bpd. Kuwait has initiated merger of two of its state-owned oil firms, Kuwait National Petroleum Company (KNPC) and Kuwait Integrated Petroleum Industries Company (KIPIC), as the country plans to restructure its energy industry.

The S&P GCC Composite index declined by 1.0% in April 2025 with mixed performance across GCC markets, pressured by trade war concerns and the decline in oil prices. As part of its levy of tariffs on imports from countries across the World, the U.S has also levied a 10% blanket tariff on imports from GCC, effective from April 5. Saudi equity index declined by 2.9% during the month, even as positive earnings lent some support. ACWA Power and Saudi Aramco had declined by 6.2% and 5.2% respectively for the month. Saudi Telecom gained 5.0% for the month supported by 11% y/y increase in its net profit for Q1 2025.

Abu Dhabi’s equity index increased by 1.8% in April 2025, supported by gains in blue chips. First Abu Dhabi Bank gained 8.7% for the month on the back of major restructuring of its executive committee. Dubai’s equity index gained 4.1% for the month, supported by real estate and banking stocks. Dubai Islamic Bank gained 5.4% for the month, as its net profit increased by 8% y/y in Q1 2025 on the back of growth in quality earning assets. Qatar’s equity markets gained 2.2% for the month supported by positive earnings.

IMF has lowered Saudi Arabia’s GDP growth for 2025 to 3.0%, down from 3.3% in January 2025 amid decline in oil prices and rising global risks. UAE is expected to grow by 4.0% in 2025, down from an earlier estimate of 5.1%. S&P has downgraded Bahrain’s outlook to negative from stable citing elevated fiscal deficits amid lower oil prices, maintenance at the Abu Sa’fah oil field, impact of market volatility on funding costs and higher social spending.

Global markets were mixed during April 2025. The MSCI World index was slightly positive while the S&P 500 index declined by 0.8% for the month. Earlier in the month, U.S equities declined steeply on the back of Trump administration’s announcement of a broad range of higher-than-expected tariffs as they fueled concerns over economic slowdown and resurgence of inflation. U.S had levied 145% tariffs on most Chinese goods and Beijing had retaliated with 125% levies on U.S. imports. U.S has also levied a 10% baseline tariff on almost all imports to the U.S. However, subsequent announcement of a 90-day pause on the reciprocal tariffs for most countries to allow time for negotiations and possible de-escalation of trade tensions between U.S and China have helped markets recover some of the losses.

Nasdaq 100 gained 1.5% during the month, supported by better-than-expected earnings from tech stocks. IMF has lowered its global growth estimate for 2025 to 2.8%, down from 3.3% in January. The MSCI EM index gained 1.0% during the month supported by 3.7% rise in Indian equities. Chinese equities declined by 1.7% during the month due to trade tensions even as hopes of stimulus lent some support to the markets. While Indian equities had also been weighed down by concerns over levy of tariffs in the earlier part of the month but later recovered.

U.S inflation stood at 2.4% y/y in March 2025, declining from the 2.8% y/y reading in February 2025 due to decline in energy prices. The U.S labor market added 228,000 jobs in March, up from 117,000 jobs added in February. Job gains were supported by job gains in sectors such as healthcare, retail, transportation and construction.

The yield on the 10-year US treasury notes remained volatile during the month, declining by 6 bps for the month to 4.17%. Earlier in the month, amid concerns over high inflation and lower growth due to tariff tensions, 10-year yields had risen to about 4.48%. Subsequently, yields trended lower later in the month on hopes of easing trade tensions.

Oil (Brent) prices closed the month at USD 63.1 per barrel, down 15.5% during the month. The commodity reached a four-year low during the month, weighed by OPEC+’s decision to increase oil production and trade tensions. OPEC+ has decided to raise output by 411,000 bpd in May 2025, up from the earlier announced hike of 135,000 bpd citing healthy market fundamentals and the positive market outlook. However, output cut plans for some OPEC+ members, U.S sanctions targeting Iranian oil exports and optimism over U.S-EU trade deal aided in stemming decline in oil prices. OPEC+ has also announced updated output cut plans for 7 countries including Iraq, Kazakhstan etc. who have pumped above their agreed quotas. Gold prices closed at USD 3,287, gaining 5.3% during the month and 25.3% so far this year as the commodity continued to benefit from safe-haven demand and Central Bank buying amid trade tensions.

Persisting trade tensions amid levy of tariffs by U.S and retaliatory tariffs by countries like China has increased concerns over global growth and inflation outlook. This is likely to continue to impact global markets. However, pause in levy of reciprocal tariffs by U.S, E.U-U.S tariff negotiations offer some cause for optimism. While trade tensions and lower oil prices might dampen investor sentiment in GCC, positive outlook on corporate earnings, uptick in non-oil economic activity and continued implementation of reforms are likely to provide some support to markets.

Minister of Economy and Planning and Chairman of the General Authority for Statistics (GASTAT), Faisal Al-Ibrahim, announced that the newly released update to Saudi Arabia’s Gross Domestic Product (GDP) marks a major strategic milestone in the Kingdom’s economic transformation.

The comprehensive revision, conducted by GASTAT, enhances the accuracy and transparency of national economic data and reflects international best practices. It enables better measurement of emerging sectors such as fintech, logistics, sports, the creative economy, and entertainment.

“The updated GDP measurement reflects the Kingdom’s ongoing transformation and the momentum of economic diversification,” Al-Ibrahim said.

“Improved coverage of high-growth sectors allows for a more accurate economic picture and strengthens the case for targeted policy and investment decisions.”

The revision revealed that non-oil activities now account for 53.2% of GDP — a 5.7 percentage point increase from earlier estimates — underscoring the expanding role of non-oil sectors in the economy. In the first quarter of 2025 alone, non-oil activities grew by 4.2%.

The update was based on extensive fieldwork and administrative data, including visits to 2.4 million sites, 122,000 households, and more than 880,000 agricultural holdings. It also involved over 60 administrative data sources and expanded the classification of economic activities from 85 to 134 categories.

Notable growth was recorded in key sectors: construction surged by 61%, wholesale and retail trade, restaurants, and hotels by 29.8%, and transportation, storage, and communications by 25.6%.

Al-Ibrahim emphasized that these changes align with Saudi Vision 2030’s objectives to diversify the economy, strengthen private sector participation, and enhance the Kingdom’s global competitiveness.

“The Kingdom’s economic outlook is positive, driven by structural reforms, strategic projects, and improved data systems. Regular updates to our statistics are vital to ensuring accurate, transparent information for policymakers, investors, and the broader public,” he concluded.

Qatar’s fintech sector has seen remarkable growth over the past five years, driven by the government’s Qatar National Vision 2030, which prioritizes digitalization and a cashless economy, Mohammed Al-Delaimi, CEO and Co-Founder of PayLater, Qatar’s first fully licensed Buy Now, Pay Later (BNPL) platform has said.

“The QCB’s fintech strategy, including a five-year roadmap for innovations like blockchain, AI, and open banking, has created a fertile environment for startups like PayLater. Additionally, initiatives like the $1 billion fund announced at Web Summit 2024 and the establishment of six tech-focused funds in 2025 signal robust support for Qatar’s tech ecosystem,” Al-Delaimi noted.

He added that these elements—government vision, central bank strategy, and funding—have been critical to the success of the fintech sector in the country.

PayLater secured its license from the Qatar Central Bank (QCB) on the last day of Ramadan, marking a significant milestone for the company and the country’s financial ecosystem.

According to him, PayLater’s journey began with a clear mission: to alleviate financial stress for Qatar’s residents by offering a flexible, interest-free payment solution. The platform allows customers to split purchases into four equal installments without hidden fees, distinguishing itself from traditional credit cards and bank-offered BNPL services that often carry interest charges.

“Our goal is to provide a tool that reduces financial strain, whether it’s a parent planning a vacation, a student buying a laptop, or a tech enthusiast upgrading their phone,” Al-Delaimi explained. By charging merchants instead of consumers, PayLater ensures a transparent and cost-free experience for users.

The idea for PayLater was sparked by the QCB’s introduction of a BNPL framework, which Al-Delaimi and his co-founders saw as a golden opportunity.

“We came together as entrepreneurs to seize this moment,” he said, noting that the team’s personal experiences with financial management fueled their passion. The platform’s rapid adoption underscores its relevance: within 40 days of launching, PayLater recorded 70,000 app downloads, with 60,000 users completing registration and 12,000 making transactions across 120 partner stores, including well-known retailers like Fnac, Jarir Bookstore, Carrefour, and IKEA.

Unlike other BNPL providers, PayLater is selective about its partnerships, focusing on sectors like travel, car insurance, and retail to encourage responsible spending. “We’re not signing up with grocery stores where purchases are frequent,” Al-Delaimi emphasized. “Our solution is about helping customers manage significant expenses, not piling up debt.” This approach aligns with PayLater’s commitment to financial wellness, ensuring users can regulate payments without overextending themselves.

PayLater’s differentiation lies in its customer-centric features. Users can shop online, scan QR codes in-store, or pay via links sent by merchants.

The platform also offers flexibility in managing installment dates, allowing users to align payments with their salary schedules at no extra cost. Looking ahead, PayLater plans to introduce a marketplace feature by September, offering cashback rewards and loyalty points to enhance the user experience.

“We’re gamifying the customer journey to make it engaging,” Al-Delaimi said, highlighting the strategic timing to coincide with the back-to-school season.

The company’s partnership with Qatar Islamic Bank (QIB), one of the country’s largest Islamic banks, further strengthens its position. QIB serves as the lending partner, ensuring compliance with BNPL regulations while boosting consumer trust. This collaboration, combined with PayLater’s integration with SkipCash’s online payment infrastructure, positions the company for significant growth in Qatar and potentially across the MENA region.

Al-Delaimi envisions a future where fintech solutions like PayLater become integral to Qatar’s financial landscape, offering tools for budgeting, investing, and wealth management. “In five years, I see bank accounts seamlessly integrated with startup solutions, empowering customers to make smarter financial decisions,” he predicted.

He added that with digital banks and investment apps gaining traction in the MENA region, PayLater aims to set a benchmark for user-friendly, innovative services.

As Qatar continues to embrace digital transformation, PayLater stands out as a pioneer, blending convenience, transparency, and financial empowerment. With ambitious plans to expand its offerings and deepen its market presence, the company is poised to redefine how Qataris shop, pay, and thrive in an increasingly digital world.

Dubai Financial Market (PJSC) today announced its consolidated financial results for the first quarter ending on 31 March 2025, underpinned by record trading activity and sustained investor engagement.

During Q1 2025, DFM achieved its highest Average Daily Trading Value (ADTV) in more than a decade at AED 663 million, a 67% year-on-year increase, alongside a 61% surge in total traded value to AED 41 billion, compared to 25.5B in Q1 last year.

Alongside this robust trading performance, DFM’s total consolidated revenue reached AED 186.5 million in Q1 2025, compared to AED 148.1 million in the same period of 2024. Revenue comprised AED 86 million in operating income and AED 100.5 million in investment returns and other income.

Net profit before tax stood at AED 134.9 million, compared to AED 95.6 million in Q1 2024. Total expenses excluding tax were AED 51.6 million, versus AED 52.5 million in the prior-year period.

Commenting on the DFM’s performance, Helal Saeed Al Marri, Chairman of DFM, said: “DFM has maintained strong performance and high investor confidence, as reflected in record trading activity levels, despite evolving global market conditions. Our resilient and dynamic market environment continues to strengthen Dubai’s position as a leading global financial hub. We remain steadfast in our commitment to transparency, innovation, and creating sustainable opportunities for our stakeholders.”

Building on the positive momentum of 2024, DFM achieved its highest Average Daily Trading Value (ADTV) in more than a decade at AED 663 million, a 67% increase compared to AED 398 million in Q1 2024. This was driven by robust trading volumes and strong capital inflows, despite global uncertainties impacting investor sentiment.

Meanwhile, the total market capitalization of DFM-listed companies stood at AED 897 billion at the end of March 2025, representing a slight decline of 1% compared to year-end 2024.
Average daily trades rose by 33% year-on-year to 13,400 trades per day, underlining growing liquidity and active investor engagement.

Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “DFM’s record trading performance in the first quarter of 2025 is a clear reflection of the strength and growing depth of our market. Sustained trading activity, strong capital inflows, and increased participation from institutional and international investors demonstrate the continued trust in DFM and in Dubai’s vision as a global financial hub. As we move forward, we remain focused on building on this momentum, further enhancing liquidity, and creating value for all market participants”.

Investor interest remained strong, with DFM attracting 19,366 new investors during Q1 2025, 86% of whom were foreign nationals. Foreign investors contributed 53% of total trading value, with foreign ownership of market capitalization remaining steady at 21%.

Institutional investors continued to show increased confidence, accounting for 72% of total trading value, up from 65% in the same period last year, reinforcing DFM’s growing appeal to a diversified global investor base.

The International Monetary Fund (IMF) forecasts Abu Dhabi’s economy to grow by 4.2% in 2025 and accelerate to 5.8% in 2026.

Dubai’s economy is projected to expand by 3.3% in 2025, increasing to 3.5% in 2026.

Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, said, during a media briefing organized by the Dubai International Financial Centre in cooperation with the IMF, that he expects the UAE economy to grow by 4% in 2025.

He attributed the sustained growth forecast for the UAE, despite downward revisions in many other countries, to the strong performance of its non-oil sector, infrastructure investments, and expansion in key areas like real estate and finance. He further anticipates growth to accelerate to 5% in the following year.

Azour emphasized that the GCC states do not have identical economic structures or reserve levels, which makes their response to global market fluctuations varied.

He pointed out that the average growth of the region’s economies (Middle East and North Africa) reached 1.8% in 2024 and is expected to rise to 2.6% in 2025 and 3.4% in 2026.

These figures represent a downward revision from the October 2024 estimates, which had projected growth of 4% for 2025 and 4.2% for 2026.

The visit of Joseph Aoun, President of the Republic of Lebanon, to the UAE today marks a key milestone in strengthening bilateral relations between the two brotherly nations. The UAE has reiterated its unwavering support for Lebanon’s unity, sovereignty, territorial integrity, and efforts toward stability and development.

The UAE has consistently sought to bolster ties with Lebanon, guided by its longstanding commitment to supporting the Lebanese people across various sectors.

This historic relationship dates back to the era of the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, who in 1974 directed funding of US$150 million for the Litani River Project in Lebanon. Following the end of the Lebanese civil war, the UAE launched initiatives to support peacebuilding, reconstruction, and long-term stability in Lebanon, financing numerous infrastructure, education, and healthcare projects.

After the liberation of southern Lebanon in 2000, the UAE reaffirmed its commitment by launching a solidarity project for landmine clearance in the south. Announced on 25th October 2001, the initiative was implemented in cooperation with the United Nations and the Lebanese government at a cost of US$50 million.

Amid Lebanon’s mounting economic crises in the early 2000s, the UAE subscribed to Lebanese treasury bonds worth US$300 million in January 2003, in line with the resolutions of the Paris II donor conference, formalized through a dedicated agreement.

In 2006, the UAE was among the first nations to step in with support following the July War, launching the “UAE Program for Supporting and Reconstruction of Lebanon” in September that year. The initiative sought to help Lebanon recover from the devastating impact of the conflict.

As part of this initiative, the UAE established an air, sea and land bridge to deliver urgent humanitarian aid, including food, medicine, and medical services, as well as the evacuation and treatment of the injured in UAE hospitals. The project also undertook the reconstruction and rehabilitation of damaged schools, hospitals and fishing ports, alongside a major effort to clear landmines and cluster bombs in southern Lebanon.

During the COVID-19 pandemic, the UAE delivered urgent medical assistance to Lebanon, including 12 tons of testing equipment and medical supplies. The UAE also established the Sheikh Mohamed bin Zayed Emirati-Lebanese Hospital Centre for the Treatment of COVID-19 Patients.

Following the Beirut Port explosion, the UAE swiftly mobilized humanitarian aid to support affected communities.

In October 2024, under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE launched the “UAE Stands with Lebanon” campaign. The initiative saw broad participation from the UAE’s public, private and community sectors, demonstrating solidarity with the Lebanese people and offering critical support during a challenging time for the country.