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Qatar's non-oil private sector growth slowed in April, with the PMI dropping to 50.7, reflecting a decline in new business and slower employment growth. Despite this, optimism remains for future growth driven by real estate, infrastructure, and tourism. Meanwhile, Kuwait's non-oil sector experienced significant expansion, with a PMI rise to 54.2, fueled by strong new orders and competitive pricing strategies.
The UAE Ministry of Finance held a briefing to discuss the country's role in Gulf financial and economic integration ahead of its 2026 GCC presidency. Senior officials reviewed the progress of the GCC Customs Union and common market frameworks, emphasizing the importance of capital flow facilitation, tax coordination, and cross-border business operations. The UAE aims to strengthen regional financial systems and promote alignment with the GCC Unified Economic Agreement, which underpins ongoing integration efforts initiated in 2008.
Dubai Holding is set to list a $1.4 billion residential REIT on the Dubai Financial Market, offering a 12.5% stake. The IPO opens on May 13 and closes on May 20, with trading expected to start around May 28 under the symbol “RESI.” The REIT, which manages 35,700 residential units valued at Dh21.63 billion, aims to enhance liquidity and allow for partial divestment by its sole unitholder. It anticipates distributing at least 80% of profits as dividends, with the first payments scheduled for September 2025 and April 2026.
The UAE has clarified that proceeds from its sovereign bond issuances are not utilized for general budget financing, as stated by Younis Haji Al Khoori, Undersecretary at the Ministry of Finance. The country’s debt management framework is designed to support market development and fiscal transparency, focusing on building a local yield curve rather than funding operational spending.Al Khoori emphasized that the proceeds are invested in financial assets aligned with the bonds' maturity and risk characteristics, contributing to fiscal stability. He also noted that the Cabinet's quotas for dollar-denominated bond issuances have been fully utilized, with future issuances requiring formal legislative approvals.
Paytm Cloud Technologies Ltd has launched a wholly owned subsidiary, Paytm Arab Payments LLC, in the UAE with a $2.1 million investment to enhance its merchant payments and financial services in the region. This initiative is part of Paytm's broader international expansion strategy, which includes plans for subsidiaries in Saudi Arabia and Singapore. The company aims to diversify its revenue streams and achieve profitability by Q1 FY2025-26, despite recent regulatory challenges in India.
Indian expatriates in the UAE are advised to postpone remitting money back home due to unfavorable exchange rates. Microsoft, along with its third-party vendors, utilizes cookies to enhance service delivery and personalize content and ads, allowing users to manage their preferences.
Paytm has announced the incorporation of Paytm Arab Payments in the UAE. This move marks a significant expansion for the company in the Middle Eastern market, enhancing its payment solutions and services in the region.
ADCB reported a rise in profits for Q1, attributed to effective cost controls and a significant increase in fee income. The bank's strategic measures have enhanced its financial performance, positioning it favorably in the competitive banking sector.
Saudi fintech Erad has secured $16 million in a Pre-Series A funding round to enhance its revenue-based financing platform, targeting SMEs in Saudi Arabia and the UAE. The investment, led by global and regional investors, aims to expand operations and improve product offerings, addressing the capital needs of businesses in various sectors. Since its launch, Erad has deployed over $26.6 million in funding, with a focus on fostering financial inclusion for first-time credit takers.
UAE's e& reported a remarkable profit growth of 129.9% in Q1-2025, showcasing significant financial performance. This surge reflects the company's robust strategies and market positioning, contributing to its impressive results in the telecommunications sector.
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qatar's non-oil sector growth slows while uae and kuwait expand
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