Good morning, wonderful people. UAE port giants are driving the agenda today, with AD Ports planting a flag in Brazil through a USD 835 mn acquisition and DP World expanding its footprint in the Dominican Republic. Plus: Adnoc signed on for gas from Azerbaijan's Absheron field.

In other not-so-good news: Two explosions struck a cargo vessel southeast of Iraq's Umm Qasr, with an initial assessment suggesting the second blast was caused by a drone attack. The onboard fire was later brought under control.

Earning well is not the same as investing well — and for most mid-level executives and entrepreneurs, the gap between the two is wider than they’d like to admit. The financial landscape has shifted. Regional markets are opening up, AI is rewriting how portfolios get managed, and Real Estate Investment Trusts (REITs) are entering the conversation.

And the questions that used to feel straightforward — buy or rent, fund the startup or play it safe, finance the car now or wait it out — are harder to answer than ever.

In Issue 2 of EnterpriseAM Money Matters, we get into the decisions that don’t have easy answers, because at this stage, playing it safe is the riskiest move you can make.

Tap or click here to subscribe to the Egypt edition, delivered to your inbox today, 11 AM Egypt & KSA.

EU trade agreement up next?

A long-stalled trade agreement between the GCC and the EU could be settled at a leaders’ summit in Riyadh this October, unnamed European and Gulf sources told Aleqtisadiah. The shape of the agreement is shifting, with officials discussing a move away from a single, all-encompassing framework toward sector-specific agreements — think renewable energy, digital trade, and industrial supply chains, according to the sources.

Britain lit the fuse: Brussels’ renewed urgency follows the conclusion of a trade agreement with the UK last month to remove duties on roughly GBP 580 mn worth of UK exports to the GCC annually.

The gripe: The hold-up has been the EU’s insistence on bundling in non-trade matters, head of the Gulf negotiating team and adviser at the Economy and Planning Ministry Raja Al Marzouqi told the news outlet.

Ain’t waiting around: The bloc has already signed with South Korea and is eyeing agreements with China, Turkey, and Indonesia, a pipeline that could see Gulf states lean towards bilateral arrangements at the EU’s expense if Brussels keeps dragging its feet, Al Marzouqi warned. For GCC economies recalibrating away from oil, faster trade integration means importing the capital and technical goods those new sectors will need, he said.

DATA POINT- The EU remains the GCC’s second-largest trading partner, underpinned largely by fuel imports.

Another production hike?

Opec+ members are expected to agree to another production increase for July by some 188k bbl / d when they meet next week, three unnamed sources told Reuters.

This matches last month’s move: The Opec+ producers agreed last month to increase production by 188k bbl / d in June, which marked a step down from May’s 206k bbl / d hike. Hikes may be considered as largely symbolic moves in the near term, owing to current disruptions to shipping through the Strait of Hormuz.

Bad news for the bloc: Even if Hormuz reopens quickly, supply disruptions will linger through the end of the year, industry experts warned Opec+, Bloomberg reports. The experts noted that returning to pre-war shipping volumes will take months, echoing comments from Adnoc CEO Sultan Al Jaber, who stated he does not expect a return to normal levels before the first half of 2027.

Market watch

Oil prices rose this morning on renewed Middle East tensions and stalled US-Iran negotiations, Reuters reports. Brent crude futures increased USD 0.81 to trade at USD 96.81 / bbl by 03.00 GMT, while US West Texas Intermediate (WTI) gained USD 0.91 to USD 94.67 / bbl.

The Baltic Index edges lower: The Baltic Exchange’s dry bulk index — which tracks rates for the capesize, panamax, and supramax vessel segments — was down 0.5% to 3,205 points on Tuesday, driven by the bigger vessel segments. The capesize index declined 0.7% to 5,459 points, while the panamax index eased 23 points to 2,321 points. The smaller supramax index rose 7 points to 1,577 points.

Aramco is raising its liquefied petroleum gas (LPG) selling prices for June, Reuters reports, citing traders. The company increased the price of propane by USD 10 per ton to USD 760 and butane by USD 20 to USD 820 per ton, marking gains of roughly 1-3%. Aramco's monthly LPG prices are widely used as a benchmark for Middle East LPG exports to the Asia-Pacific market.

REMEMBER- LPG prices climbed as Aramco halted its shipments from the Juaymah export facility for May. The facility, which suffered structural damage sustained in late February, accounts for about 3.5% of global seaborne LPG exports. The disruption is tightening the market and pushing buyers — particularly in Asia and India — to seek alternatives.

PSA

MSC lifts Far East-Europe box rates: MSC will apply new freight all kinds (FAK) rates on cargo moving from all Far East ports — including Japan, Korea, and Southeast Asia — to North Europe, the Mediterranean, North Africa, and the Black Sea from 15 June until 30 June. The new rates range from USD 3.9-6.2k per 20-ft container and USD 6-8.9k per 40-ft container.

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