Standard Chartered: Weak Dollar to Unlock Opportunities in Emerging Markets and Global Equities
Alternative investments are also in focus, with the Bank highlighting gold as a core allocation, supported by strong central bank demand and its role as a diversifier when bonds offer less downside protection.
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Daily Tribune
8 hours ago
- Daily Tribune
UAE overtakes UK in global fintech investment rankings
The United Arab Emirates has surged into second place globally for fintech investment, displacing the United Kingdom for the first time on record. This sharp jump follows a $2 billion investment by MGX into the cryptocurrency exchange Binance, propelling the UAE ahead of its traditional Western rival. The United States retained its top spot with $11 billion raised through over 100 deals in the first half of 2025. The UAE secured $2.2 billion, while the UK lagged slightly behind at $1.5 billion. Power shift The rankings, released based on the latest global fintech market data, reflect a significant shift in global capital flows. The UAE's rise was driven by a single but substantial deal, signalling how strategic investments can rapidly transform national standings in high-growth sectors. India came close to overtaking the UK as well, collecting $1.4 billion and highlighting a narrowing gap in the global fintech hierarchy. Singapore followed with $798 million, while France and Germany raised $693 million and $668 million respectively. Fintech gains pace Despite uneven investment figures, the fintech sector as a whole is showing signs of maturity. Global fintech revenues grew by 21 percent last year, significantly higher than the 13 percent rise seen in 2023. A study by Boston Consulting Group notes that the sector has entered a new phase, with fintech revenues expected to triple those of traditional finance institutions by 2024. The UAE's new position in the rankings underscores a growing trend of non-Western economies gaining ground in the financial technology space. As funding patterns shift and the sector matures, global leadership in fintech is no longer confined to legacy power centers.
Gulf Insider
12 hours ago
- Gulf Insider
OPEC Is Playing The Long Game
OPEC is pursuing a long-term strategy to increase its market share and is unwinding production cuts, with oil prices remaining strong due to factors beyond OPEC's direct control. The rise in oil prices is influenced by geopolitical developments, such as U.S.-Chinese trade talks and sanctions against Russia, as well as a decline in new non-OPEC oil discoveries. OPEC's approach is also aimed at restoring group cohesion among its members and capitalizes on the resilience of oil demand, even as some forecasts suggest a peak in consumption. 'There is no peak in oil demand on the horizon,' the head of OPEC, Haitham al Ghais, said last month in Canada. Demand will continue to increase as global population grows, he added. And OPEC will be there to respond with what supply is necessary. OPEC is now playing the long game. Fast-forward a month and Reuters is reporting on 'signs of strong demand more than offset the impact of a higher-than-expected OPEC+ output hike for August', not to mention now chronic worry about Trump's tariffs. In fact, after OPEC+ announced the bigger than expected supply boost, prices rose, not least because not everyone boosting supply was boosting it fast enough. When OPEC+ first said they were going to start unwinding their production cuts, agreed back in 2022, reactions were varied. Some argued it was all about trying to kill U.S. shale again. Others said the Saudis, the biggest cutter, simply had no other choice any longer after the cuts failed to produce significantly higher prices. Yet others claimed OPEC in general and Saudi Arabia specifically are trying to please Trump—by hurting some of his biggest donors. OPEC itself has not endorsed any of these versions of events. The fact remains that OPEC is reversing the cuts, boosting oil supply—but prices are not tanking as so many prominent energy analysts said they would, and are still saying they would, later this year. Of course, this is because of factors unrelated to OPEC, namely geopolitical developments such as U.S.-Chinese trade talks and Canadian wildfires, as well as yet more EU sanctions against Russia. But OPEC certainly wouldn't mind these factors supporting prices, if not more U.S. rig additions. OPEC is playing for market share. This is one of the most popular explanations for the group's latest moves among analysts. After curbing production for a couple of years and surrendering market share in the process, now some of the world's biggest producers want this market share back. This is going to take a while. Bank of America's head of commodities research, Francisco Blanch called it a 'long and shallow' price war. 'It's not a price war that is going to be short and steep; rather it's going to be a price war that is long and shallow,' Blanch told Bloomberg a month ago. He went on to say the target, especially for the Saudis, is U.S. shale, which has become more resilient in recent years but is still vulnerable to lower oil prices because of its higher costs. There is also another aspect to the change in OPEC approach, as detailed by Kpler's Amena Bakr. It's about group cohesion, Bakr wrote in an analysis for The National. With so much non-compliance with the cuts, those that were compliant needed to have their concerns addressed, too. 'To restore a sense of fairness, an orderly plan to return the barrels gradually was needed to avoid a free-for-all situation that would drown the market in supply,' Bakr explained. OPEC doesn't even need to try very hard this time, because geopolitics is working in its favor. Last month, prices climbed immediately on the suggestion that the U.S.-Iran talks could escalate into missile action, after the Iranian defense minister threatened strikes on U.S. bases in the Middle East should the two fail to reach a deal on Iran's nuclear program. U.S. Congress work on fresh sanctions against Russia, targeting specifically its energy industry also served as a driver for higher prices, undeterred by EU plans to try and stop importing even petroleum products made with Russian crude, possibly in light of the EU's track record of success with the anti-Russian sanctions. Yet there is another factor helping OPEC stay on top: non-OPEC supply. The Financial Times reported in mid-June that the international supermajors have not made many new discoveries lately. Since 2020, new non-shale discoveries have averaged 2.5 billion barrels a year, the FT noted, citing a Goldman Sachs report. This is just 25% of the average annual in new discoveries for the three years prior to 2020. In other words, all the talk about non-OPEC swamping OPEC and taking the upper hand on international oil markets may have been a little premature—as may be the case of IEA demand projections. The IEA has been notoriously bearish on oil demand, repeatedly citing rising EV sales, even though these sales in the U.S. are set for a serious decline. In Europe, EV sales are on the rise thanks to the return of subsidies but how long these are going to last is anyone's guess. China is always the country everyone points to when it comes to EVs, and yet China's oil demand is still growing—although peak talk is intensifying there as well, including from its own state oil majors. In this situation, OPEC essentially does not need to do anything but sit and wait. Price-sensitive U.S. shale will slow down, lack of new discoveries will crimp the growth potential of the supermajors, and prices will rise, because peak demand does not mean a sharp drop afterwards. In fact, even if we have reached peak oil demand, the most likely next stage in demand evolution is a plateau at a level that would need to be maintained. OPEC would no doubt be happy to help do that.
Gulf Insider
a day ago
- Gulf Insider
Saudi Arabia Publishes New Law Allowing Foreigners To Own Property
Saudi Arabia has officially published the full details of its new law regulating real estate ownership by non-Saudis, following Cabinet approval earlier this month. The comprehensive law, released in the official gazette Umm Al-Qura on Friday, will take effect 180 days from publication and marks a major overhaul in the Kingdom's approach to foreign ownership of property. The new system grants non-Saudis — including individuals, companies, and non-profit entities — the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet. These rights include usufruct (beneficial use), leaseholds, and other real estate interests, but will be subject to a range of controls and restrictions based on location, property type, and usage. The law preserves all real estate rights that were legally established for non-Saudis prior to the new regulation taking effect. However, it clearly states that ownership remains prohibited in certain locations and regions, notably in Makkah and Madinah, except under conditions for individual Muslim owners. A key provision in the law requires the Council of Ministers — upon a proposal by the Real Estate General Authority and with the approval of the Council of Economic and Development Affairs — to define the allowable zones for foreign ownership and set upper limits on ownership percentages and durations for usufruct rights. Foreign individuals legally residing in Saudi Arabia may own one residential property outside restricted areas for personal housing purposes. This does not apply to Makkah and Madinah. The regulation also includes provisions for corporate ownership. Non-listed companies with foreign shareholders, as well as investment funds and licensed special-purpose entities, will be permitted to acquire real estate throughout the Kingdom, including in Makkah and Madinah, provided the ownership supports operational needs or employee housing. Listed companies and investment vehicles may also acquire property in line with Saudi financial market regulations. Diplomatic missions and international organizations can also own premises for official use and residence of their representatives, subject to Foreign Ministry approval and reciprocity conditions. To ensure compliance, non-Saudi entities must register with the competent authority before acquiring property. Ownership or real rights become valid only after formal registration in the national real estate registry. The law introduces a real estate transfer fee of up to 5% for transactions involving non-Saudis, and outlines a penalty framework for violations. Sanctions include fines up to SR10 million and, in severe cases such as falsified information, the forced sale of the property with proceeds remitted to the state after deductions. A dedicated committee under the Real Estate General Authority will be formed to investigate violations and impose penalties. Decisions of this committee can be appealed to the administrative courts within 60 days. Additionally, the law repeals a prior rule that prohibited GCC citizens from owning property in Makkah and Madinah, effectively standardizing rules for all non-Saudi entities under a single framework. The executive regulations, which will detail implementation mechanisms and specify geographic boundaries and conditions, are expected to be issued within six months. The new law replaces the previous foreign property ownership legislation issued under Royal Decree No. M/15 in 2000.
