GULF WEEKLY: UAE non-oil growth soars, MGX buys into TikTok, IMF visits Kuwait, Oman-India CEPA signed

GULF COUNTRIES - Report 19 Dec 2025 by Justin Alexander

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

* Brent crude fell below $60 for the first time in nearly five years, despite the US blockade of Venezuela.
* China’s foreign minister, visiting Saudi Arabia and the UAE, called for progress on an FTA with the GCC.
* Saudi Arabia eliminated the expat levy, but only for those working in the industrial sector.
* The National Development Fund is planning to issue debt securities in 2027.
* UAE non-oil GDP growth rose to 6.1% in Q2, led by financial & business services and construction.
* Adnoc secured $11bn in syndicated loans to finance the Hail and Ghasha projects.
* MGX is acquiring a $2bn 15% stake in TikTok US as part of the deal to limit Chinese ownership.
* Qatar is close to signing an FTA with Egypt.
* The IMF sees Kuwait’s deficit rebounding and says $80bn in financing is needed over six years.
* Abu Dhabi Ports may develop Shuiabia, and CCCC will be awarded the contract for Mubarak al-Kabir.
* The India-Oman CEPA was signed, the first bilateral trade deal in the GCC ex-UAE in recent years.
* Bahrain’s public debt reached $69bn (145% of GDP) in October.
* The US repealed the Caesar Act sanctions on Syria, which is now seeking a credit rating.
* The UAE and Saudi Arabia tried to mediate in Yemen; anti-STC forces amassed on the Saudi border.
* Databank updates: UAE GDP, Saudi & Bahrain debt, Saudi & Oman inflation, UAE & Kuwait forecasts.

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.