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Gulf sovereign wealth assets are projected to reach $18 trillion by 2030, marking a 50% increase and reinforcing the region's financial dominance. With around 40% of global SWF assets, key players like Saudi Arabia’s PIF and Abu Dhabi’s ADIA are expanding investments, particularly in Asia and Africa, while facing rising competition and the need for enhanced performance standards.
Microsoft has partnered with the Government of Kuwait to enhance digital transformation through an AI-powered Azure Region, aligning with Kuwait’s Vision 2035. This initiative will boost local AI capabilities, attract global businesses, and establish a Microsoft Technology Innovation Hub, including an AI Innovation Centre and a Cloud Centre of Excellence.Additionally, the government will implement Microsoft 365 Copilot for employees to improve efficiency and decision-making, while also launching the Cybersphere initiative to bolster cybersecurity and a skilling program for the workforce. This collaboration aims to foster a diversified digital economy and stimulate sustainable growth.
Forbes Middle East has unveiled its Top 40 Asset Managers for 2025, highlighting leaders who collectively managed over $439 billion in assets in 2024. Rashed Sharif of SNB Capital retains the top spot with $63.73 billion in AUM, followed by Mohammed Alardhi of Investcorp at $53 billion. Saudi Arabia dominates the list with 19 representatives, showcasing the region's growing influence in real estate, sukuk, and private equity.
Kuwait's startup ecosystem is rapidly evolving, supported by visionary investors and government initiatives like New Kuwait Vision 2035. With over $22 million raised in 2024 across sectors such as e-commerce and healthtech, the landscape is ripe for innovation, despite challenges like limited later-stage funding. Key players include Arzan Venture Capital, Faith Capital, and Angel Match, each focusing on various sectors and stages of investment.
AmCham Kuwait, in partnership with DHL Express and other strategic allies, launched the "Kuwait 4SMEs" initiative with the event "Scaling Locally, Expanding Globally." This forum provided SMEs and startups with strategies and insights for local growth and global expansion, featuring expert presentations and a panel discussion on essential growth strategies.The initiative, aligned with Kuwait's Vision 2035, will continue through 2025, offering resources and networking opportunities while addressing topics like digital transformation and sustainable business practices.
GCC countries saw a 1.7% inflation rise in October 2024, driven mainly by a 6.4% increase in housing costs. Other contributors included a 3% rise in goods and services and a 1.7% uptick in restaurant and hotel prices, while transportation costs fell by 3.6%. Kuwait led the region with a 2.4% inflation rate, surpassing the EU's 2.3%.
Motery, a fintech application transforming car buying in Kuwait, has successfully completed its seed funding round, achieving an $8 million valuation. This investment will enhance its online platform, allowing customers to purchase vehicles and access flexible financing solutions from home. Co-founders Abdullah Al-Ateeqi and Eng. Mohammad Al Abdulsalam expressed excitement about accelerating growth and improving the car buying experience in Kuwait's automotive market.
Lebanon's private sector showed steady growth in February, with a PMI of 50.5, supported by increased new business, particularly from abroad. Optimism surged following the election of a pro-reform president, despite ongoing security concerns due to Israel's presence in strategic areas.In the UAE, the non-oil private sector maintained growth with a PMI of 55, reflecting improved business conditions and rising new orders. However, firms expressed caution over intense competition and limited job creation, which could impact future growth.
Kuwait and Egypt's non-oil private sectors showed growth in February, with Kuwait's PMI at 51.6 and Egypt's at 50.1, indicating expansion. Despite positive trends, concerns arose over job cuts and cautious business confidence, particularly in Egypt, where firms faced challenges in hiring and retaining staff.
ADQ and Plenary Group have launched Plenary Middle East to focus on regional infrastructure projects. In real estate, Dubai property prices are anticipated to stabilize or decline due to increased supply. Additionally, JPMorgan has upgraded Kuwait to a developed market, while the Saudi Central Bank has introduced close-out netting regulations to enhance financial stability. Dubai Islamic Bank has also unveiled its first sustainability-linked finance framework to support ESG objectives.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
gulf sovereign wealth assets projected to reach 18 trillion by 2030
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12:13 24.03.2025
microsoft partners with kuwait government to drive ai transformation and growth
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middle eastern asset managers shape financial landscape with significant growth and innovation
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08:31 17.03.2025
kuwait's startup ecosystem thrives with emerging investors and innovative opportunities
07:07 17.03.2025
kuwait 4smes initiative launched to support local and global business growth
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gcc inflation rises 1.7 percent in october driven by housing costs
06:36 10.03.2025
Motery secures 8 million valuation to innovate car buying in Kuwait
02:12 10.03.2025
growth trends in middle east private sectors amid economic challenges
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13:42 05.03.2025
kuwait and egypt non-oil sectors show growth amid cautious outlook
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09:56 04.03.2025
Middle East infrastructure developments and financial market updates this week
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