Money & Business - Gulf Insider

4 weeks ago

Saudi Arabia: Port Of NEOM Fully Operational, Handling Global Cargo Flows

The Port of NEOM is fully operational and actively receiving and moving complex cargo through its multi‑purpose terminal, NEOM announced on Sunday. The Port’s infrastructure and operating standards support dependable cargo handling and multimodal routing spanning trade flows from different parts of the globe, including the Americas, Europe, GCC, as well as Egypt and Iraq. offering an integrated logistics corridor that combines land and sea transport, the Port ensures smooth and efficient transfer of goods to Gulf markets in record time. According to NEOM, several European markets rely on its Port to reach the UAE, Kuwait, Iraq, Oman, and the region, supported by leading global and regional partners. Port NEOM contributes to accelerating the flow of shipments with high efficiency and meeting the requirements of the region’s fast-paced markets. In addition to ship passage, the new corridor combines trucking and ferry services to quickly move time‑sensitive goods into the Gulf. Powered by Pan Marine, DFDS, and leading regional RoPax services, this route adds flexibility and resilience to your supply chain, reduces transit times, and provides shippers with a reliable alternative.

1 month ago

UAE Revises Tax Penalties: 5 Changes Businesses Must Know

The UAE has introduced sweeping changes to tax penalties, cutting fines and revising how violations are handled, with the Federal Tax Authority positioning the move as a step towards easing compliance and encouraging businesses to correct past errors. The amendments, now in force, revise administrative penalties linked to VAT, excise tax and broader tax procedures, with several fines reduced and calculation methods adjusted. The changes come at a time when businesses are navigating tighter reporting requirements, with the updated framework aimed at lowering the cost of compliance while pushing for more timely disclosures. 5 key changes businesses need to know The revisions touch multiple areas of tax compliance, from record keeping to voluntary disclosures, with a clear focus on reducing penalties while increasing accountability. 1. Lower penalties across common violations Several fines have been reduced sharply, particularly for procedural breaches that businesses encounter regularly. The penalty for failing to submit tax-related records in Arabic when requested has been cut from Dh20,000 to Dh5,000, while fines linked to delays in updating tax records have also been lowered. The Federal Tax Authority said the reductions are designed to ease the burden on businesses while maintaining compliance standards. “The new amendment, which includes […]

1 month ago

CZ Releases New Memoir Highlighting the Rise of Crypto and the Story of Binance

Binance co-founder Changpeng Zhao (CZ) has published a new memoir, with a candid account of the early days of crypto, the rapid rise of Binance, and the personal cost of building one of the biggest platforms in modern finance. Freedom of Money: A Memoir of Protecting Users, Resilience, and the Founding of Binance launched globally on 8 April 2026 on Amazon Kindle and paperback. The book traces CZ’s journey from his unconventional path into technology through the founding and growth of Binance during a period of unprecedented expansion in the cryptocurrency industry. Part memoir and part reflection on the evolution of digital assets, the book offers readers a builder’s perspective on what it was like to grow a global platform in a new industry where the rules were still being written. “While many people congratulated me on being number one, something else gave me more satisfaction,” CZ writes in the book. “I was getting messages from users all around the world thanking us for providing them with financial access or even financial freedom.” The memoir also reflects on the challenges that came with building at such speed, including the pressures of scaling a global company, regulatory scrutiny as the industry […]

1 month ago

The Great Retreat: Beijing’s Digital Currency Ambitions Are Faltering

For years, the Chinese Communist Party (CCP) has positioned the digital yuan (e-CNY) as the ultimate weapon of financial totalitarianism. It was intended to be the crowning achievement of the surveillance state. With a programmable, traceable digital currency, Beijing thought it would finally break the back of private payment giants like Alipay and WeChat Pay. Yet, despite having total control over the levers of the domestic economy, Beijing’s digital dream is showing signs of terminal fatigue. Since its debut at the 2022 Winter Olympics, the e-CNY has gone from an aggressive, potential retail juggernaut to a low-public-appeal tool for state administration. In short, nobody really wants it. The Genesis of Control: Why the e-CNY was Born The People’s Bank of China (PBOC) didn’t launch the digital yuan to make life easier for the average citizen in Shanghai or Shenzhen. It was an aggressive move against the autonomy of the private sector and an offensive tactic to undermine individual privacy. In 2014, when China’s research into the Central Bank Digital Currency (CBDC) began, the Chinese Communist Party (CCP) realized that the vast majority of retail transactions occurred on platforms it did not directly control. The authorities understand that any lack of […]

1 month ago

Even A 1% Bitcoin Allocation Can Drastically Reshape Portfolio Risk, Schwab Finds

A new research note from Charles Schwab is challenging a simple question many investors still ask: how much cryptocurrency is “right” for a portfolio. The answer, the firm argues, is less about prediction and more about psychology—specifically, how much volatility an investor can realistically live with. The report focuses on exposure to Bitcoin and Ethereum, two of the most widely held digital assets. While they often enter portfolios as small “satellite” positions, Schwab finds they can behave like much larger holdings once risk is taken into account. Even allocations as low as 1% to 3% can meaningfully reshape portfolio behavior, the analysis shows. That shift is not just about returns. It is about how a portfolio feels during stress. In sharp market declines, crypto does not sit quietly in the background. It moves first, and often further than traditional assets. “Any allocation to cryptocurrency is likely to increase a portfolio’s volatility,” the report notes, pointing to historical drawdowns that have exceeded 70% for both Bitcoin and Ethereum in past cycles. Schwab: Steady allocations vs. risk budget The core message is not a warning to avoid crypto, but a reminder that its role changes depending on how it is used. Schwab outlines two frameworks investors tend […]

1 month ago

Gold Slips After Two-Day Surge, Traders Watch Iran Talks

Gold prices eased slightly on Thursday morning, giving up a small portion of the gains seen earlier this week as global markets weighed fragile geopolitical signals against shifting rate expectations. The 24-karat rate stood at Dh569, down from Dh569.25, while 22-karat slipped to Dh526.75 from Dh527. The move reflects a pause after a short rally, with price direction still closely tied to developments around the ongoing conflict and policy signals from major central banks. (Check latest gold prices here UAE, Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and India.) Monthly trend shows sharp swings April began on a strong footing with 24K gold at Dh573 on April 1, before a steady decline pulled prices down to Dh561 by April 6. That early drop was followed by a rebound, with rates climbing back to Dh569 by April 8. Thursday’s marginal dip suggests the market is struggling to find a clear direction after this back-and-forth movement. The pattern has been similar for 22K gold, which started the month at Dh530.75, fell to Dh519.50 midweek, and then recovered to Dh527 before easing slightly again. Global markets keep gold supported Internationally, bullion hovered near $4,715 an ounce after a 1.5% gain over the previous two sessions, supported by a weaker dollar and […]

1 month ago

UAE, Bahrain Sign Dh20 Billion Currency Swap Agreement

The Central Bank of the United Arab Emirates (CBUAE) and the Central Bank of Bahrain (CBB) announced the establishment of a Currency Swap Agreement between the UAE Dirham (AED) and the Bahraini Dinar (BHD) during a virtual signing ceremony. The agreement has a nominal value of Dh20 billion; BHD2 billion, with a tenor of five years. The agreement was signed by Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Khalid Humaidan, Governor of the Central Bank of Bahrain. The agreement aims to further strengthen existing financial cooperation between the two nations. Khaled Mohamed Balama emphasised that the signing of the currency swap agreement reaffirms the UAE’s and the Kingdom of Bahrain’s shared commitment to expanding financial and monetary cooperation, as well as strengthening trade and investment ties. He added that the agreement demonstrates both sides’ dedication to promoting the use of local currencies and advancing cooperation frameworks between central banks, contributing to enhanced financial stability and the deepening of regional and international partnerships. Khalid Humaidan stated that the agreement reflects the strength and depth of the longstanding ties between the leaderships of the Kingdom of Bahrain and United Arab Emirates, marking a significant milestone in the […]

1 month ago

Mysterious Bitcoin Inventor Satoshi Nakamoto Is ‘Unmasked’ As British Nerd Who Could Secretly Be Worth $70bn

The New York Times published an investigation on Wednesday arguing that Adam Back, the British cryptographer who invented Hashcash, is the most likely person behind the Satoshi Nakamoto pseudonym used by Bitcoin’s creator. Back denied the claim, telling Cointelegraph he was referring reporters to his post on X after previously rejecting similar attempts to identify him as Satoshi. Back reiterated in the post that he is not Satoshi, adding that he “was early in laser focus on the positive societal implications of cryptography, online privacy and electronic cash, hence my ~1992 onwards active interest in applied research on ecash, privacy tech on cypherpunks list which led to hashcash and other ideas.” The investigation was conducted by John Carreyrou, a French-American investigative journalist best known for exposing the Theranos fraud. In the report, he claims that Back, who was cited in Nakamoto’s Bitcoin white paper, actively discussed electronic cash for years, then vanished just as Bitcoin (BTC) emerged, only to reappear after Satoshi disappeared. The story revives one of Bitcoin’s oldest mysteries by putting one of the protocol’s earliest and most influential cryptographers at the center of a new attempt to identify Satoshi, but the case remains circumstantial without cryptographic proof. […]

1 month ago

Egypt Raises Electricity Prices For Higher-Use Households, Businesses Amid Energy Crisis

Egypt has raised electricity prices for higher-use residential consumers and commercial users starting in April, the electricity ministry said on Saturday, citing a severe global energy crisis linked to the war in the Gulf region. The move is the latest in a series of steps by the government to curb energy use and contain mounting fiscal pressure as higher import costs strain the finances of the Arab world’s most populous country. In a statement, the ministry said lower-consumption households would be shielded from the increases, which would be limited to higher-use segments and commercial users in an effort to maintain electricity supplies across the residential, commercial and industrial sectors. It said electricity prices for residential consumption bands of up to 2,000 kilowatt-hours per month would remain unchanged, while tariffs for higher residential brackets would rise by an average of 16 percent. Commercial electricity prices across all brackets would increase by an average of about 20 percent, it added. Prime Minister Mostafa Madbouly said in March that Egypt’s energy import bill had more than doubled since the war involving the US, Israel and Iran began, forcing the government to raise fuel prices, increase public transport fares and slow some state projects […]

1 month ago

Middle East Non-Oil Growth Slows As Iran Conflict Disrupts Trade

Non-oil business growth slowed across the UAE, Kuwait and Egypt in March as the Iran conflict disrupted trade, dampened demand and increased costs, S&P Global data showed. The UAE’s PMI eased to 52.9 in March from 55 in February, its lowest level since July 2025, though it remained in expansion territory. Kuwait saw a sharper deterioration, with its PMI falling to 46.3 from 54.5, slipping into contraction for the first time in over a year. Egypt’s index declined to 48 from 48.9, marking its lowest level in nearly two years. A PMI reading above 50 signals expansion, while a figure below that threshold indicates contraction. The broad-based slowdown comes amid escalating regional tensions following the outbreak of war involving the US and Israel against Iran in late February, which has disrupted flights and shipping routes and heightened uncertainty across Gulf economies. Andrew Harker, economics director at S&P Global Market Intelligence, said: “The S&P Global Kuwait PMI provides a clear indication of the impact of the war in the region on non-oil businesses during March.” He added: “Companies reported that the suspension of flights and shipping were key factors leading to reduced new orders and business activity, with firms responding by limiting their employment and purchasing.” Survey data showed […]

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Saudi Arabia: Port Of NEOM Fully Operational, Handling Global Cargo Flows

UAE Revises Tax Penalties: 5 Changes Businesses Must Know

CZ Releases New Memoir Highlighting the Rise of Crypto and the Story of Binance

The Great Retreat: Beijing’s Digital Currency Ambitions Are Faltering

Even A 1% Bitcoin Allocation Can Drastically Reshape Portfolio Risk, Schwab Finds

Gold Slips After Two-Day Surge, Traders Watch Iran Talks

UAE, Bahrain Sign Dh20 Billion Currency Swap Agreement

Mysterious Bitcoin Inventor Satoshi Nakamoto Is ‘Unmasked’ As British Nerd Who Could Secretly Be Worth $70bn

Egypt Raises Electricity Prices For Higher-Use Households, Businesses Amid Energy Crisis

Middle East Non-Oil Growth Slows As Iran Conflict Disrupts Trade

Recent Posts

UAE: Sharjah Launches Oman Logistics Corridor, Sends First Shipments To Sohar Port

Saudi Arabia Bans Political, Sectarian Slogans During Hajj, Tightens Mecca Entry Rules

Kuwait Launches Online Self-Service System For Work Permit Renewals

Gulf Countries ‘Refused’ UAE Call For Joint Attack On Iran

Tehran Claims US Faces Escalating Economic Fallout From ‘War Of Choice’ As Hardship Mounts Inside Iran

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