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Company looking for M&A deals $20bn growth spend by 2030 Syria situation being monitored Abu Dhabi National Energy Company, or Taqa, is exploring buying companies in the US and elsewhere, its chief executive told Reuters. The state-owned utility is continuing its international expansion and is striving to reach ambitious growth targets. “The US is a key market for us,” and “if the right opportunity presents itself for Taqa, we would be pursuing that,” Jasim Husain Thabet said in an interview, without disclosing specific targets. ADPower, a unit of Abu Dhabi sovereign wealth fund ADQ, owns just over 90% of Taqa,…

China’s industrial profits picked up pace in April, official data showed on Tuesday, signaling economic resilience in the face of trade tensions with the United States and lingering deflationary pressures at home. The world’s two largest economies traded tit-for-tat tariffs last month, after US President Donald Trump announced sweeping “reciprocal tariffs” on April 2, then pausing them for most countries while singling out China for levies of 145%. The import curbs risk derailing China’s largely export-led economic recovery, with analysts warning that up to 16 million jobs could be lost if exports to the United States fall by 50% and…

China’s Industrial Profits Maintain Growth Momentum in April Despite Trade Tensions  China’s industrial profits picked up pace in April, official data showed on Tuesday, signaling economic resilience in the face of trade tensions with the United States and lingering deflationary pressures at home. The world’s two largest economies traded tit-for-tat tariffs last month, after US President Donald Trump announced sweeping “reciprocal tariffs” on April 2, then pausing them for most countries while singling out China for levies of 145%. The import curbs risk derailing China’s largely export-led economic recovery, with analysts warning that up to 16 million jobs could be…

The Gulf Cooperation Council (GCC) and Malaysia have restarted negotiating a long-delayed free trade agreement (FTA) to strengthen economic and trade relations. “Malaysia considers the GCC to be one of its most valued trade partners in West Asia,” investment, trade and industry minister Tengku Zafrul Aziz said in a statement. The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Official talks on the FTA started in 2011. The agreement is expected to cover many areas, including trade in goods and services, investment, trade facilitation, and economic cooperation, the statement said.   Total trade between Malaysia and the…

Analysts expect interest from US Focus on $100bn Jafurah gas field Sales would fund Aramco capex plan Asset sales could allow Saudi Aramco to maintain its capital expenditure plans and keep its government shareholders happy with dividends, analysts have said. The national oil company is reportedly looking for investors to buy stakes in its subsidiaries and infrastructure, with a particular focus on its $100 billion Jafurah gas field project, according to a Reuters article that does not name its sources. Aramco has “a lot of big ambitions”, says Robin Mills, CEO of consultancy Qamar Energy and an AGBI columnist, “and…

Energy exports drop Non-oil exports rise Imports show increase Oman’s total foreign trade in the first quarter of 2025 declined by 10.4 percent year on year to $14.7 billion, dragged down by a 16 percent drop in oil and gas exports. Oil and gas exports fell to $9.6 billion in March this year, from $11.4 billion the previous quarter, figures from the National Centre for Statistics and Information showed.  However, non-oil revenues rose 8.6 percent to $4.2 billion, thanks to a sharp increase of minerals exports, which climbed 14 percent to $1.2 billion.  Oman’s non-oil exports include chemicals, fish, live animals…

The euro could become a viable alternative to the dollar, earning the 20-nation bloc immense benefits, if governments could only strengthen the bloc’s financial and security architecture, ECB President Christine Lagarde said on Monday. Unnerved by erratic US economic policy, global investors have been reducing their exposure to dollar assets in recent months but many have opted for gold instead, not seeing a direct alternative. In fact, the euro’s global role has been stagnant for decades now since the European Union’s financial institutions remain unfinished and governments have shown little appetite to embark on more integration, Reuters reported. “The ongoing…

The euro could become a viable alternative to the dollar, earning the 20-nation bloc immense benefits, if governments could only strengthen the bloc’s financial and security architecture, ECB President Christine Lagarde said on Monday. Unnerved by erratic US economic policy, global investors have been reducing their exposure to dollar assets in recent months but many have opted for gold instead, not seeing a direct alternative. In fact, the euro’s global role has been stagnant for decades now since the European Union’s financial institutions remain unfinished and governments have shown little appetite to embark on more integration, Reuters reported. “The ongoing…

Oil prices rose on Monday after US President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about US tariffs on the bloc that could hit fuel demand. Brent crude futures rose 39 cents, or 0.6%, to $65.17 a barrel by 0919 GMT while US West Texas Intermediate crude was up 33 cents, or 0.5%, at $61.86 a barrel. “Trump’s pivot, by postponing higher tariffs for the EU, and his comments on possible sanctions on Russia are moderately supporting crude prices today,” UBS analyst Giovanni Staunovo said. He added Monday’s US Memorial Day holiday was…

Saudi Awwal Bank (SAB) has become the first bank in the Kingdom to implement IDEMIA Secure Transactions’ (IST) “Tap to Activate” solution. This initiative is part of SAB’s commitment in enhancing customer transactions and providing a seamless and secure banking experience.The “Tap to Activate” solution will integrate both physical and digital payment experiences, allowing their customers to efficiently activate new payment cards by simply tapping on their smartphone. The service’s robust authentication protocols allow for a secure, convenient, and hassle-free process that ensures that only the customer can activate their card, eliminating the need for ATMs or phone banking.Bandar Al-Gheshayan,…