GULF WEEKLY: UAE-EU trade talks launched, UAE & KSA do US LNG deals, Oman bank merger proposed, Bahrain tourism surges

GULF COUNTRIES - Report 11 Apr 2025 by Justin Alexander

A skimmable summary overlaid with our analysis and links. Headlines:

* Oil touched a new four-year low, raising concerns about larger GCC deficits and financing needs.
* US-Iran talks in Oman are scheduled tomorrow and may also be a factor weighing on the oil market.
* Gulf equity markets declined this week, with Saudi Arabia seeing the biggest peak decline (-7.7%).
* All bond yields also rose sharply higher, along with CDSs for Bahrain, Oman and Saudi Arabia.
* The Saudi PMI eased to a still-strong 58.1; Qatar and Kuwait saw small increases from lower levels.
* Aramco signed an LNG purchase agreement for a planned project in Texas.
* Mubadala is buying a 24% stake in Texas Gas and a planned LNG export terminal.
* The UAE launched talks for a CEPA trade deal with the EU, aiming to conclude it in “months”.
* Dubai was once again the most popular city globally for millionaire migrants.
* Qatar’s current account surplus was 17% of GDP in 2024, and investment inflows improved.
* Kuwait signed a design contract for a rail link to Saudi Arabia; it suffered another electricity blackout.
* Oman’s Sohar International Bank proposed a merger with Ahli Bank.
* Bahrain saw an impressive 20% surge in tourists in 2024, to 15m.
* Bahrain is preparing to import LNG for the first time, which will be more expensive than local gas.
* Bahrain is now without an ambassador to Israel; Israel’s foreign minister visited the UAE.
* Databank updates: Qatar current account, PMIs, Bahrain and Dubai tourism.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2025 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.