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Read the May 2025 MEED Business Review

30 April 2025

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Global stock markets suffered some of their worst days on record following US President Donald Trump's announcement of his 'Liberation Day' tariffs on 2 April. Although a 90-day pause was quickly announced for most trading partners, the 10% baseline import duty and levies on aluminium and industrial metals led to selloffs across regional indices. Oil prices also took a hit, as Brent crude dropped to under $60 a barrel for the first time since 2021.

The GCC is well positioned to survive the trade wars, however. Oil, energy and various petrochemicals products remain exempt from US tariffs, and with low regulatory barriers and the capacity to engage in manufacturing-intensive activities, the region's economies pride themselves on being trade-friendly. By building on the strong relations that regional leaders enjoy with the Trump administration, GCC states can hope to emerge from the assault relatively unscathed.

In the May edition of MEED Business Review, we take an in-depth look at how regional governments hope to avoid the worst of the hits from US tariffs, examine the impact of the tariff regime on Gulf stock markets and assess the additional damage that falling prices will cause for oil exporters across the Middle East and North Africa region.

MEED's latest issue also includes a 17-page market report on the UAE, which explores how solid fiscal and macroeconomic fundamentals will help the country ride out the global uncertainty caused by the imposition of US tariffs. UAE financial institutions remain on a strong growth heading, and an expected increase in oil production, continued chemicals sector growth, expansionary government spending on infrastructure and renewed investment in real estate will all help the UAE to weather the storm.

In addition, this month's issue features MEED's 2025 GCC Contractor Ranking, which reveals an increase in orders across the region in the past year. While the GCC’s most active contractor is Saudi Arabia’s Nesma & Partners, with $13.9bn of work at the execution stage, Beijing-based China State Construction Engineering Corporation has continued to grow strongly to secure second place this year, just $300m behind Nesma with $13.5bn.

This issue is also packed with analysis. We examine the steps that are being taken by Damascus to reassure regional partners and lay the groundwork for the reconstruction of war-torn Syria; look at what Saudi Arabia and Oman are doing to attract local and international miners; and learn how UAE sovereign wealth fund Mubadala is investing in a low-carbon future.

In the May issue, the team also speaks exclusively to Walter Simpson, the former managing director of CC Energy Development (CCED), about the oil producer’s plans for growth in Oman; and Iain McBride, head of commercial for gigaproject multi-asset developer Roshn Group, who lays out the procurement strategy that is enabling the company to navigate the challenges presented by Saudi Arabia’s construction boom.

We hope our valued subscribers enjoy the May 2025 issue of MEED Business Review. 

 

Must-read sections in the May 2025 issue of MEED Business Review include:

> AGENDA: 
> GCC shelters from the trade wars
> Gulf markets slide as US tariff shockwaves hit
> Lower oil prices raise Gulf’s fiscal pressure

> CURRENT AFFAIRS:
> Syria makes progress towards reunification

INDUSTRY REPORT:
2025 GCC contractor ranking 
> Contractors take on more work in 2025

> MINERALS: Saudi Arabia and Oman open up their minerals potential

> INTERVIEWS:
> CCED seeks growth in Oman’s hydrocarbons sector
> A case study in procurement 

> LEADERSHIP: Rethinking investments for a lower-carbon future

> UAE MARKET REPORT: 
> COMMENT: UAE is poised to weather the storm
> GOVERNMENT & ECONOMY: UAE looks to economic longevity
> BANKING: UAE banks dig in for new era
> UPSTREAM: Adnoc in cruise control with oil and gas targets
> DOWNSTREAM: Abu Dhabi chemicals sector sees relentless growth
> POWER: AI accelerates UAE power generation projects sector
> CONSTRUCTION: Dubai construction continues to lead region
> TRANSPORT: UAE accelerates its $60bn transport push
> DATABANK: UAE growth prospects head north

> MEED COMMENTS: 
> Opec+ shows defiance in the face of sliding oil prices
> Corruption may hinder Iraqi oil pipeline reopening
> Mall of the Emirates sets trends again with $1.4bn revamp
> Abu Dhabi infrastructure entity will help forge partnerships

> GULF PROJECTS INDEX: Gulf projects index inches upwards

> MARCH 2025 CONTRACTS: Region records $70.3bn of deal signings in first quarter of 2025

> ECONOMIC DATA: Data drives regional projects

> OPINION: Trump’s new world order

> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts

To see previous issues of MEED Business Review, please click here
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