Money & Business - Gulf Insider

2 weeks ago

ALBA’s €2.2 Billion European Power Move

Bahrain’s aluminium giant snaps up the EU’s largest smelter in a landmark deal signed in Paris Aluminium Bahrain (Alba), the world’s largest single-site aluminium smelter, has agreed to acquire Aluminium Dunkerque—the European Union’s biggest aluminium smelter—in a deal valued at $2.2 billion. The agreement was announced on June 2 at the prestigious “Choose France” investment summit in Paris. The Memorandum of Understanding was signed in the presence of Bahrain’s Minister of Finance and National Economy, H.E Shaikh Salman bin Khalifa Al Khalifa, and French Minister of Foreign Trade Nicolas Forissier. The MOU was formally executed by Alba’s Chairman Khalid Amro Al-Rumaihi, alongside partners from American Industrial Partners and French public investment bank BPI France. Alba will acquire 100% of Aluminium Dunkerque, fully financed through a consortium of partner banks. BPI France will also inject €100 million in equity, securing a 6% stake and a board seat — pending regulatory approvals.

2 weeks ago

Oman’s Central Bank Raises OMR61.4mn Through Treasury Bills

Muscat: Oman’s central bank raised OMR61.4 million by way of allotting Treasury Bills on Monday. The value of the allotted Treasury bills amounted to OMR61.4 million, for a maturity period of 91 days. The average accepted price reached OMR99.047 for every OMR100, and the minimum accepted price arrived at OMR99.040 per OMR100. The average discount rate and the average yield reached 3.82350% and 3.86030%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides the added advantage of ready liquidity through discounting and repurchase facilities (Repo). It may be noted that the interest rate on the Repo operations with CBO is 4.25% while the discount rate on the Treasury Bills Discounting Facility with CBO is 4.75%. Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.

2 weeks ago

Ferrari Vs Tesla: $640K Luce EV Loses Key Speed And Range Battles To Model S Plaid

Ferrari’s upcoming electric grand tourer, the Luce, has already sparked intense debate online. Much of that attention centers on its unconventional styling. Yet beyond the design discussion, the numbers reveal an interesting comparison against one of the EV market’s most established performance sedans: the Tesla Model S Plaid. The matchup is far from equal in price or positioning. Ferrari plans to launch the Luce at roughly $640,000, while Tesla’s Model S Plaid starts near $95,000. Ferrari also intends to keep production limited, preserving the exclusivity tied to the brand. Tesla, meanwhile, sells the Plaid in far greater numbers worldwide. Still, both vehicles target buyers seeking extreme electric performance, making the comparison difficult to ignore. Performance Numbers Compared On paper, Ferrari takes a narrow lead in outright power. The Luce produces 1,050 horsepower from four electric motors, while the Model S Plaid delivers 1,020 horsepower through a tri-motor setup. Ferrari’s approach goes beyond raw output. Each wheel receives its own dedicated motor, allowing advanced torque vectoring and sharper handling control. Ferrari engineers claim the setup will preserve the brand’s traditional driving feel despite the shift to an electric platform. Tesla counters with proven straight-line performance. The Model S Plaid still launches […]

2 weeks ago

Why Your Next Flight Will Be Much More Expensive. Jet Fuel Prices Have Doubled

Holidaymakers across the Middle East are facing a harsh reality this summer: flying is about to get significantly more expensive. While the skies over the Gulf are finally clearing, the financial fallout of the recent regional conflict is only just beginning to hit consumers. The biggest threat to your summer travel budget is the skyrocketing cost of operating an aircraft. The disruption to global trade and oil supplies has sent jet fuel prices surging by an eye-watering 121.1 per cent year-on-year in April, alongside a 77.7 per cent increase in crude oil prices, according to the International Air Transport Association’s (IATA) April passenger and cargo performance reports. The massive spike in operational costs is being passed directly onto the consumer. Willie Walsh, the Director General of IATA, said, “The cost of jet fuel more than doubled in April, which is pushing airfares up. Forward schedule data is showing a reduced offering in the coming months, indicating that airlines are balancing high fuel costs and weaker demand”. With fewer seats available and airlines desperate to cover their fuel bills, passengers should expect to pay a premium for their tickets. The volatility comes after months of severe disruption across major Gulf transit […]

3 weeks ago

“The World Is Losing Trust”: Foreign Investment In Germany Plunges To Lowest Level Since 2009

Foreign companies are continuing to shy away from investing in Germany, with the number of new projects falling last year to its lowest level since 2009, representing an eighth consecutive annual decline. An analysis by the auditing and consulting firm EY, reported by the German Press Agency, found that foreign investors announced 548 new projects in Germany in 2025. That was 10 percent fewer than the year before. Henrik Ahlers, the head of EY in Germany, said the figures were a “warning sign for Germany as a business location. Germany is falling behind, and other European locations are developing significantly better.” He said Germany has talked for years about the need for reform, but has done too little, while other countries have made government services more digital, simplified their tax systems, and made it easier for companies to do business. “In Germany, high taxes, high labor costs, expensive energy, and at the same time, paralyzing bureaucracy are stifling investment,” Ahlers noted. “Germany’s inability to reform has now become known worldwide. Unfortunately, little remains of its image as a strong, high-quality location and an economic rock in turbulent times,” he added. The fall in investment comes at a difficult time for the […]

3 weeks ago

70% Of All Crypto ‘Wrench Attacks’ Happen In France: Report

About 70% of all wrench attacks, physical attacks against crypto holders and their families, carried out in an attempt to steal digital assets, occur in France, according to Bitcoin journalist Joe Nakamoto. There have been 41 crypto-related kidnappings in France so far in 2026, Nakamoto said, or about one attack every two and a half days, he added. As CoinTelegraph’s Vince Quill reports, Nakamoto attributed the rise in wrench attacks to know-your-customer data collection, which is stored in centralized servers that were compromised in several high-profile data leaks, including the 2020 leak of hardware wallet provider Ledger’s customer data. That data leak disclosed the identities, home addresses and emails of more than 270,000 customers worldwide, he added. Jameson Lopp, the CEO of crypto wallet and key management company Casa, said: “France is the canary in the coal mine, demonstrating how financial regulations create a surveillance apparatus that causes direct harm to bitcoin holders.” [An overview of wrench attacks in France so far in 2026] Opposition to know-your-customer data collection is mounting inside the crypto and Bitcoin communities, as digital asset holders continue to be targeted with physical attacks and kidnappings, prompting a need for increased security measures. Don’t become a target: Bitcoiners offer advice to safeguard against […]

3 weeks ago

Ferrari Fever Hits Samsung, SK Hynix Workers As AI Memory Boom Mints New Wealth

The global memory boom, with Samsung at the epicenter of the production ecosystem, appears to be generating a sudden wealth effect among some employees, with local media reporting that newly enriched chip workers are now panic-buying luxury sports cars. A short clip from MBC News, the news division of Munhwa Broadcasting Corporation and one of South Korea’s top national TV and radio broadcasters, featured at least one exotic car dealership reporting a sharp uptick in Samsung Electronics and Hynix employees seeking to buy high-end sports cars. “We’ve been getting dozens of phone calls every day for the past month. The customers coming in are mostly employees from Samsung Electronics and SK Hynix. There have been a lot more people coming to look at cars priced over 100 million won (~$73,000 USD),” a MBC reporter could be heard saying in the news segment. Google Search trends confirm a recent spike in internet searches for “Ferrari dealer” as Samsung and SK Hynix have become the world’s most important memory companies. Shares of Samsung and SK Hynix have gone absolutely parabolic … … as well as KOSPI. Meanwhile… We suspect the exotic-car buying spree will accelerate once Samsung and its largest union reach […]

3 weeks ago

US Lawmakers Renew Strategic Bitcoin Reserve Push With ARMA Bill

US lawmakers have renewed efforts to codify a US strategic Bitcoin reserve with a new bipartisan bill on Thursday that seeks to acquire around 1 million Bitcoin over five years. The American Reserve Modernization Act of 2026 would establish a Strategic Bitcoin (BTC) Reserve and Digital Asset Stockpile for other federally held cryptocurrencies, which would be held by the US Treasury Department, said the bill’s sponsor, Representative Nick Begich. ARMA, sponsored by 16 members of Congress, builds on the BITCOIN Act, which was introduced in July 2024 and updated in March 2025. In an interview on Sunday, Patrick Witt, of the President’s Council of Advisors for Digital Assets, referred to ARMA as “Version 2” of the BITCOIN Act and said the White House has spent considerable time examining the legal implications of a Bitcoin reserve. “It’s a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets.” The push for a federal policy comes as the US currently holds 328,372 Bitcoin worth more than $25.5 billion — the most of any nation-state — but has sold portions of those holdings through court-ordered actions over the years. “The US is already one of the largest holders of Bitcoin in the world. But Congress […]

3 weeks ago

UBS Warns Of “Scary” Oil Price Scenarios Once Inventory Buffers Run Dry

Drawing down crude inventories at a record pace, with SPR releases doing the heavy lifting to cushion the Gulf supply shock, only delays the move higher in crude oil prices. Once those buffers are depleted, oil risks being violently repriced higher. That is why the Trump administration’s race to secure a peace deal with Iran and reopen the Hormuz chokepoint has taken on new urgency in recent weeks. The longer the critical waterway remains disrupted, the greater the risk that the oil shock will escalate from a market event to a financial crisis, with higher crude prices feeding directly into inflation, consumer stress, and broader recession risk. The message from the SPR crude data this week, the largest ever draw, is very clear: The Trump administration is buying time to get a deal done with Tehran. If Hormuz does not reopen soon, the market will eventually force demand destruction through much higher prices. UBS analyst Arend Kapteyn penned a note Friday morning titled “When The Oil Buffers Run Out.” Kapteyn warned, “Oil prices can move much higher once inventories are depleted.” He continued: Earlier this week, SPR data showed drawdowns continue to accelerate, with 9.92 million barrels – a record […]

3 weeks ago

Dubai Crown Prince approves second Dhs1.5 billion economic incentives package

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence and Chairman of The Executive Council of Dubai, has approved a second package of economic incentives valued at Dhs1.5 billion ($408). Combined with the first Dhs1 billion package approved at The Executive Council’s meeting in late March, the new package brings the total value of incentives introduced in under two months to Dhs2.5 billion ($680m). Authorities approved “a second package of economic incentives valued at Dhs1.5 billion ($408 million),” the Dubai government’s media office said in a post on X. “The new package brings the total value of incentives introduced in under two months to Dhs2.5 billion ($680 million),” the office added. The incentives include exemptions from municipal fees for hotels and restaurants, reduced fines for customs violations and lower fees for civil aviation permits. In late March, Dubai authorities announced a first package worth over $270 million to help businesses and families. The second package comprises 33 initiatives that will be implemented over a period ranging from three to 12 months, with the timeline for each initiative to be announced by the respective government entity. The package spans a range of […]

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ALBA’s €2.2 Billion European Power Move

Oman’s Central Bank Raises OMR61.4mn Through Treasury Bills

Ferrari Vs Tesla: $640K Luce EV Loses Key Speed And Range Battles To Model S Plaid

Why Your Next Flight Will Be Much More Expensive. Jet Fuel Prices Have Doubled

“The World Is Losing Trust”: Foreign Investment In Germany Plunges To Lowest Level Since 2009

70% Of All Crypto ‘Wrench Attacks’ Happen In France: Report

Ferrari Fever Hits Samsung, SK Hynix Workers As AI Memory Boom Mints New Wealth

US Lawmakers Renew Strategic Bitcoin Reserve Push With ARMA Bill

UBS Warns Of “Scary” Oil Price Scenarios Once Inventory Buffers Run Dry

Dubai Crown Prince approves second Dhs1.5 billion economic incentives package

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