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IPO
The GCC IPO party took a breather in 2025
The region recorded 40 IPOs during the year, down from 53 in 2024
Adia going long on China AI?
MiniMax is among the few survivors of China’s generative-AI shakeout and is positioning itself as…
THIS MORNING: CloudKitchens shelves plans for dual KSA, UAE listing + Alterra invests in Copenhagen Infrastructure Partners’ fund
Plus: Warner Bros’ board is not loving Paramount’s Gulf-backed bid
THIS MORNING: Mubadala eyes Brazil’s Will Bank + Adnoc top bidder for Russian stake in Serbian Oil Industry?
Plus: Emirates NBD sees the UAE’s GDP growing 4.6% in 2026
M&A
THIS MORNING: UAE is evaluating impacts of a potential 25% tariff from the US + Canada trade talks are set to begin next month
Plus: DP World confirms Berbera Port operations remain stable
Is Arabian Gulf Steel Industries eyeing distressed British steelmaker Specialty Steels?
The company, which is the the collapsed division of Sanjeev Gupta’s Liberty Steel empire, has…
Adnoc Drilling officially goes regional
This is the company’s first inorganic expansion outside the UAE
e&-backed Pakistani telco now owns 100% of Telenor Pakistan
The transaction valued Telenor Pakistan at PKR 108 bn
Debt
Corporates drive GCC debt to records as sovereigns tap the brakes
Sovereign issuers sold more conventional bonds in 2025, driving regional bond markets to a…
THIS MORNING: Somalia cancels ports, defense contracts with the UAE + Emirates NBD tees up debut AED-denominated DNN notes
Plus: What a potentially weaker USD means for the GCC this year, according to…
Aldar adds another USD 1 bn to its war chest + DAE raises USD 600 mn
Orders exceeded USD 4.2 bn led by regional accounts
CI affirms UAE’s AA- rating as reserves projected to hit USD 280 bn in 2025
Ratings could see improvement if the UAE pivots its economy away from hydrocarbon dependency
Macro + Economy
THIS MORNING: New seven stations announced for Etihad Rail + Apollo Go gets driverless trial permit in Dubai
Plus: Philippines and the UAE to sign comprehensive economic partnership agreement next week
UAE set to be a “fiscal outlier” and the fastest growing country in the Gulf this year
The UAE is projected to achieve a fiscal surplus of up to 4.0% of GDP
THIS MORNING: AE Coin to be integrated into Network International’s PoS and e-commerce payment infrastructure + Non-oil private sector ended 2025 firmly in growth territory
Plus: The oil glut is hitting the Middle East’s crude market
A year led by the non-oil sector
Non-oil sector growth contributed a record 77.5% of GDP in 1H 2025