QatarEnergy Signs 20-Year Deal for Up to 3 Million Tons a Year of Woodside's US LNG
The world's top LNG exporter has now lined up 7 million tons a year of U.S. gas as force majeure on its own cargoes runs to year-end.
Middle East & Africa
LNG
- Gulf Trade
Middle East Fertilizer Exports Fall 70% Even as Non-Iran Oil Flows Regain Prewar Levels
Gulf urea and sulfur cargoes have not followed oil back to prewar levels, and Rystad Energy says alternative supplies come at a higher price.
- Gulf Banks
Emirates NBD Profit Flat at 6.4 Billion Dirhams in First Full Quarter With RBL Bank
Dubai's biggest lender posted its first full quarter with RBL Bank on its books, as India deposits and loans swelled the balance sheet while Turkish provisions weighed.
- Gulf Oil
Hormuz Oil Flows Stuck at 42% of Prewar Levels as Tanker Attacks Test Iraq's Asia Rebound
Iraq says exports are back near 3.4 million barrels a day, but strikes on engine rooms and soaring freight costs keep Asian buyers paying for the risk.
- Oil Policy
OPEC+ Holds December Oil Output at 31.01 Million Barrels a Day, Sets Up Nov. 29 Test on 2027
Seven core producers left targets unchanged for a third month as Brent sits near $118 and the group turns to next year's quotas.
- Gulf Companies
SABIC Returns to Profit With 500 Million Riyals in Third Quarter as EBITDA Jumps 40%
The Saudi chemicals giant, 70% owned by Aramco, recovered from a war-hit second quarter on higher sales and the sale of its Western plastics unit, and trimmed its spending plans.
- Gulf Markets
DIP Holding Closes Books on $543 Million Dubai IPO, the UAE's First IPO of 2026
The landlord behind Dubai Investments Park is pitching a 7.6% dividend yield as the Gulf tests whether foreign money will return to new listings after the war.
- Gulf Economy
Saudi Economy Shrinks 3.8% in Third Quarter as Oil Falls 20.4%, Non-Oil Growth Picks Up
Flash estimates show the kingdom's contraction easing from the second quarter, with a 1.3% quarterly rebound and non-oil activity growing 1.9% despite Hormuz disruption.
- Gulf Energy
Aramco Third-Quarter Adjusted Profit Rises 9% to $31.2 Billion as Refining Earnings Triple
Downstream earnings jumped 234% as lost fuel supply lifted margins, while the sale of a Malaysian refinery stake to Petronas pushed reported net profit to $36.3 billion.
- Gulf IPOs
DIP Holding Prices Dubai IPO at 1.12 Dirhams, Raising $529 Million Before Nov. 11 Debut
The UAE's first listing of 2026 landed in the middle of its range and was covered several times over, with trading on the Dubai Financial Market set to start Nov. 11.
- Gulf Economy
Saudi Non-Oil PMI Slips to 54 in October as Export Orders Fall for an Eighth Month
The Riyad Bank survey shows the kingdom's private sector still growing, but purchase costs rose at the fastest pace in six months and foreign demand kept shrinking.
- LNG
Petronet Presses Qatar to Speed Up Missed LNG as Just 6 of About 80 Cargoes Arrive
India's largest LNG importer says Doha cannot commit to a recovery schedule until Hormuz shipping normalizes, a test for Asian buyers of Qatari gas.
- South Africa
South Africa Says Debt Has Peaked at 78.4% of GDP, Cuts 2026 Growth Forecast to 1.2%
A commodity tax windfall narrows the deficit and trims bond sales, but the mid-term budget shows growth still too slow to lift incomes.
- Sovereign Wealth
Gulf Funds Drive $14.2 Billion Sovereign Push Into China and Hong Kong, Led by Saudi PIF
Saudi Arabia's PIF put in $6 billion and ADIA $2.5 billion as state investors nearly tripled their China and Hong Kong bets from all of 2025.
- Egypt
Egypt Raises Interest Rates to 20% in Surprise Hike as Pound Nears 56 to the Dollar
The Central Bank of Egypt ended five straight holds with a 100-basis-point increase that none of 11 firms in an Asharq Bloomberg survey had forecast, citing energy prices and regional risk.
- Sovereign WealthAnalysis
Mubadala Keeps $39 Billion a Year Investment Pace as Abu Dhabi Fund Tilts Toward Asia
The $385 billion Abu Dhabi fund has lifted Asia to about 13% of its portfolio and names China, India, Japan and South Korea as the main targets.
- Turkey
Turkey's Inflation Edges Up to 29.77% in October, Missing Forecast for a Slowdown
Consumer prices rose 2.58% on the month, faster than economists expected, as housing, transportation and food costs climbed weeks after the central bank cut rates to 36%.
- Kenya
Kenya Inflation Climbs to 7.3%, Highest Since 2023, as Fuel Costs Test Central Bank
Diesel and petrol prices drove transport inflation to 17.1% in October, leaving the Central Bank of Kenya less room as it weighs its December decision.
- South Africa
Valterra Platinum's Refined Output Falls 41% as Mideast Conflict Pushes Up Costs
The Johannesburg-listed PGM producer, formerly Anglo American Platinum, kept its 2026 guidance, but fuel, steel and explosives costs tied to the Middle East conflict and safety stoppages are lifting unit costs.
- Shipping
Maersk, Hapag-Lloyd Move AE12 to Suez as Egypt's Canal Revenue Sits Below Half of Peak
The AE12 loop from Ningbo and Shanghai left Malaysia on Oct. 27 on the canal route, while Egypt's toll income sits at less than half its pre-crisis level.
- Africa and ChinaAnalysis
Guinea's Simandou Hits 10 Million-Ton Iron Ore Run Rate as Chinese-Backed Mine Ramps Up
Rio Tinto's SimFer shipped 2.2 million tons to China in the third quarter, but a growing stockpile in Guinea shows the export chain is still catching up.
- Nigeria
Nigeria's Weekly Dollar Trading Halves to $1.81 Billion as Naira Holds Near 1,349
Turnover in Nigeria's currency market fell at the fastest weekly pace this year, while banks parked more cash at the central bank despite fresh liquidity drains.
- Sovereign Wealth
Mubadala Energy Aims to Double Output in 10 Years, Leaning on Indonesia and Malaysia Gas
The Abu Dhabi state energy investor says gas will make up about 70% of its portfolio, with Indonesia's Andaman Sea discoveries at the center of its plans.
- Egypt
Egypt Inflation Slows to 12.7% in October as Core Rate Eases and Reserves Hit $57.5 Billion
Urban price growth cooled for a second month and core inflation fell a full point, days after the central bank's surprise rate increase, while foreign reserves rose to a record.
- Ghana
Ghana Inflation Rises to 5.5% as Services Costs Jump Before Bank of Ghana Meeting
Services inflation hit 11.5% and transport 14.1%, a third monthly rise that keeps the Bank of Ghana's 14% policy rate in focus before its Nov. 18 decision.
- Energy
ADNOC Gas Q3 Profit Doubles to $1.34 Billion, Lifts 2026 Guidance and Studies Hormuz Bypass
Abu Dhabi's listed gas producer says export liftings recovered in the third quarter, and it is studying an LNG project in Fujairah, outside the Strait of Hormuz.
- South Africa
South Africa Unemployment Rises to 33.7% Despite 101,000 New Jobs in Third Quarter
Formal employers added 268,000 jobs, led by finance and mining, but a faster-growing labour force pushed the jobless rate up for the quarter.
- Israel
Israel's Shekel Slips 2.9% in Third Quarter as Institutional Dollar Sales Drop to $4.4 Billion
Bank of Israel data show local institutions cut net foreign-currency sales by about two-thirds, while reserves edged up to $237.8 billion at the end of October.
- Property
Emaar Offers 15 Dirhams a Share to Take Over Emaar Development as Q3 Profit Rises 5.6%
Dubai's biggest developer wants full control of its listed UAE homebuilding arm as hotel occupancy falls and Dubai home sales slow.
- Ethiopia
Ethiopia Rebases GDP Up 59% to $201 Billion, Becomes Africa's Fifth-Largest Economy
A new 2024-25 base year lifts Ethiopia past Morocco and Kenya, lowers its debt ratios on paper and leaves the bills to creditors unchanged.
