
Saudi market slide casts doubt on reform momentum
As of late June, the Tadawul Index (Saudi Arabia) has emerged as one of the worst-performing global markets in 2025, off over 9%. Analysts attribute the decline

Gulf markets dip ahead of U.S. tax bill vote
Most Gulf stock markets ended lower on July 1, 2025, as investors booked profits and awaited a U.S. Senate vote on a controversial tax and spending package. Saudi Arabia’s

Phoenix Group formalizes $150M+ crypto treasury, posts strong Q2 results
Abu Dhabi‑based Phoenix Group PLC, a digital asset infrastructure firm, reported robust Q2 2025 performance: publicly disclosing a crypto treasury worth over US $150 million and expanding its

Stablecoin theft rises in MENA—but doesn’t deter crypto uptake
Despite a surge in stablecoin-related thefts in the MENA region, adoption remains strong. Experts predict theft volumes could reach US $4 billion by year-end, with the UAE

UAE launches “Open Finance” initiative via ADCB
The UAE unveiled its Open Finance system in partnership with Abu Dhabi Commercial Bank (ADCB), allowing consumers and businesses to share financial data securely through licensed APIs.

New IMF growth projections for Gulf economies
A recent Reuters poll (conducted July 15–28) elevated MENA region GDP growth projections to 3.2% in 2025. Saudi Arabia is forecast to grow at 3.8%, the UAE

Corporate earnings dampen sentiment despite early gains
Despite the broader rally, weakness in some earnings curbed further momentum. Saudi’s index slipped 0.1% due to disappointing results from firms like Halwani Brothers. Dubai remained flat

Toyow wins US $10M funding to accelerate tokenisation in Dubai
Toyow, a Dubai‑based tokenised asset marketplace, secured a US $10 million strategic investment from Nimbus Capital. This capital raise will support its effort to bring real‑world assets (e.g.

Binance says Middle East is fast becoming crypto expansion hub
In an interview, Binance’s regional head remarked that the Middle East is rapidly emerging as a leading centre for crypto and Web3 growth. He highlighted how the