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Abu Dhabi's ADX, Tel Aviv Stock Exchange Sign MOU

Abu Dhabi Securities Exchange and Tel Aviv Stock Exchanges sign MoU
Abu Dhabi Securities Exchange and Tel Aviv Stock Exchanges sign MoU
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Abu Dhabi's ADX, Tel Aviv Stock Exchange Sign MOU

Abu Dhabi Securities Exchange and Tel Aviv Stock Exchanges sign MoU
Abu Dhabi Securities Exchange and Tel Aviv Stock Exchanges sign MoU

Abu Dhabi Securities Exchange (ADX) and the Tel Aviv Stock Exchange (TASE) have signed a Memorandum of Understanding, the first time an Arab exchange has entered into a commercial relationship with the state of Israel, Emirates News Agency (WAM) reported Wednesday.

The MoU was signed by Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADX, and Amnon Neubach, Chairman of TASE, at a virtual signing ceremony, WAM said.

The MoU forms an important part of the UAE’s efforts to expand diplomatic and commercial cooperation with Israel, by laying out a road map towards developing bilateral relations through the stimulation of economic growth and the promotion of technological innovation, it added.

According to WAM, the MoU will facilitate the development of channels of communication to foster co-operation between the two exchanges and contribute to the growth of the capital markets in the UAE and Israel.

One of the key purposes of the MoU between ADX and TASE is to explore potential opportunities for collaboration, including the cross-listing of securities; mutual trading by each exchange’s respective members; facilitating investor access to each other’s markets; creating new fintech and other market infrastructure technologies, and sharing data and other information to enable the development of new products.

"As the relationship between the UAE and Israel enters a new era, the path is open for businesses from both countries to collaborate with each other and unlock commercial opportunities. The MoU ADX and TASE have signed is an early example of such collaboration and evidence of our commitment to drive value in the region through trade and commerce,” said Al Hammadi.

Chief Executive of ADX Saeed Hamad Al Dhaheri added that the MoU illustrates how exchanges can partner for the mutual benefit by sharing ideas, information, and initiatives.

As for Neubach, he looked forward to working closely together with the Abu Dhabi Securities Exchange.

“We are confident that this MOU will strengthen the capital markets of Israel and the United Arab Emirates and will provide important opportunities for listed companies in both countries,” WAM quoted him as saying.

"The development of the Tel Aviv Stock Exchange’s international exposure is one of our key strategies. This remarkable MoU is an important event and a testament to the opportunity that Israel’s capital markets represent for international investors seeking Israeli technology and high growth companies,” CEO of the Tel Aviv Stock Exchange Ittai Ben Zeev said.

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Business

World Bank Sees Saudi Budget Deficit Halving, Current Account Surplus of 3.3% in 2026

Riyadh, Saudi Arabia (Reuters)
Riyadh, Saudi Arabia (Reuters)
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World Bank Sees Saudi Budget Deficit Halving, Current Account Surplus of 3.3% in 2026

Riyadh, Saudi Arabia (Reuters)
Riyadh, Saudi Arabia (Reuters)

As regional economies reel from a complex and uncertain geopolitical landscape, with shipping disruptions through the Strait of Hormuz adding pressure, the latest World Bank report points to standout resilience in Saudi Arabia’s economy.

The data show the kingdom on a fiscal consolidation path to strengthen its fiscal position, with the budget deficit set to halve and the current account shifting from deficit to surplus.

April data from the World Bank indicate Saudi Arabia has not only built solid “economic buffers,” but is also leveraging geopolitical pressures to advance structural reforms.

While much of the region faces sharp fiscal strain and negative growth, the kingdom is moving steadily ahead, recording the strongest growth among regional peers and reinforcing its role as a pillar of regional stability.

Despite broad downward revisions, Saudi Arabia remains the region’s top performer. Growth forecasts for the wider region have been cut to 1.8%, while the kingdom is expected to expand by 3.1%.

Current account shifts to a 3.3% surplus

World Bank data point to a shift in Saudi Arabia’s current account. After a projected deficit of 2.7% of GDP in 2025, forecasts for 2026 point to a surplus of 3.3%.

A current account surplus means exports of goods and services exceed imports, strengthening the balance of payments. It also reflects rising net foreign assets and stronger financing capacity, supported by solid export performance and moderate domestic demand.

The shift carries broader weight. Moving from deficit to surplus positions, Saudi Arabia becomes a net lender to the global economy, with oil export revenues, fast-growing non-oil sectors, and returns on foreign investments outpacing spending on imports and services.

Beyond the headline figures, the surplus acts as an external buffer, supporting currency stability and generating strong liquidity flows. This gives financial institutions and sovereign funds greater room to sustain investment in major development projects, while helping shield the economy from disruptions in global supply chains and shipping routes.

Deficit set to halve

Fiscal data show improved expenditure control and revenue growth. The World Bank expects the deficit to narrow from 6.4% of GDP in 2025 to 3.0% in 2026, below the Finance Ministry’s estimate of 3.3%.

The shift reflects tighter fiscal discipline. Despite the cost of regional tensions, the gap between revenue and spending is set to shrink by half in one year.

This reflects effective fiscal policy, including stronger tax collection and public financial management, rising non-oil revenues that reduce reliance on energy price swings, and more efficient public spending focused on high-impact development projects, limiting the need for external borrowing and supporting long-term fiscal balance.

Saudi Arabia leads per capita growth

The April 2026 report also shows a sharp divergence in per capita growth across the region. While countries such as Kuwait (-7.7%) and Qatar (-7.4%) face steep contractions, Saudi Arabia stands out with an expected per capita growth rate of 1.4%.

Inflation remains contained at 2.8%, helping preserve purchasing power despite global increases in energy and shipping costs driven by maritime disruptions. This stability protects the broader economy from imported inflation pressures.

Business

European Development Bank Unveils 5 Bn Euros for War-hit Economies

A Lebanese man walks past destruction at the site of an Israeli airstrike the day before that targeted a building in Beirut on April 9, 2026. (Photo by Ibrahim AMRO / AFP)
A Lebanese man walks past destruction at the site of an Israeli airstrike the day before that targeted a building in Beirut on April 9, 2026. (Photo by Ibrahim AMRO / AFP)
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European Development Bank Unveils 5 Bn Euros for War-hit Economies

A Lebanese man walks past destruction at the site of an Israeli airstrike the day before that targeted a building in Beirut on April 9, 2026. (Photo by Ibrahim AMRO / AFP)
A Lebanese man walks past destruction at the site of an Israeli airstrike the day before that targeted a building in Beirut on April 9, 2026. (Photo by Ibrahim AMRO / AFP)

The European development bank said Thursday it was unlocking five billion euros ($5.9 bn) to help shore up economies hit by the Middle East war.

The European Bank for Reconstruction and Development (EBRD) said it will "deploy EUR5 billion in 2026 in economies impacted by Middle East conflict".

The funds would be focused on Iraq, Jordan, Lebanon, the West Bank and Gaza "and affected neighboring economies" including Egypt, Türkiye, Armenia and Azerbaijan, the bank said in a statement.

"The economic and social impact of the conflict is already being felt across many of the bank's economies in the form of disrupted trade routes, energy and commodity shocks, weakened investor confidence and broader costs to the population," it added.

Established in 1991 to help former Soviet bloc nations embrace free-market economies, the bank later extended its reach to the Middle East and Africa.

"In a time of rising uncertainty, we are stepping up where others may pull back," said EBRD president Odile Renaud Basso.

"We are here to support economies, clients and people in our countries of operation in tough times," she added.

The bank said "the volume of conflict response investment will be demand driven due to the fast-changing nature of the situation".

The funds will provide immediate relief "by supporting economic activity" and "fostering financial sector stabilization".

EBRD will aim to strengthen energy security and aid state-owned enterprises to "ensure the uninterrupted provision of essential goods and services".

On Thursday it had approved "a project to support Lebanon's retail chain," it said, adding it also aimed to safeguard access to jobs, finance and essential services.

Since starting operations in the southern and eastern Mediterranean in 2012, the EBRD has invested more than EUR26.5 billion in 489 projects in the region.

In Türkiye alone, the lender has committed more than 23 billion euros since 2009.

Business

Saudia to Partially Resume Flights To, From Dubai, Abu Dhabi, and Amman on Saturday

One of Saudia’s aircraft (company website)
One of Saudia’s aircraft (company website)
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Saudia to Partially Resume Flights To, From Dubai, Abu Dhabi, and Amman on Saturday

One of Saudia’s aircraft (company website)
One of Saudia’s aircraft (company website)

Saudia announced on Thursday the partial resumption of its operations to and from Dubai, Abu Dhabi, and Amman starting Saturday, April 11.

In a post on its official account on the social media platform X, the airline said the resumption will be carried out through the operation of exceptional daily flights to and from those destinations.

Saudia advised passengers to check the status of their flights before heading to the airport, noting that further updates will be published through its official channels.