Edmund Bower

Beirut

Journalist at Freelance

Saudi Arabia Editor at AGBI

Articles

Reality bites for Saudi IPOs after market downturn

1 week ago | agbi.com | Edmund Bower |Matt Smith

Analysis Markets Flynas IPO strugglesMarket sentiment shiftingSaudi valuations to lowerFlynas’s share price struggles since listing on Riyadh’s bourse this week may mark the beginning of lower valuations for Saudi Arabian initial public offerings, although further flotations are still likely this year.
Flynas slides on first day of trading

1 week ago | agbi.com | Edmund Bower

Aviation Flynas share price dropsConflict impacts IPOAnalysts warned of dropBudget airline Flynas saw its share price drop on the first day of trading on Tuesday as the Saudi Exchange continued to slide following the outbreak of conflict between Israel and Iran.
Gulf economies brace for escalation in Israel-Iran war

1 week ago | agbi.com | Edmund Bower |Valentina Pasquali

Analysis Markets Hormuz faces closureOil futures risingRegional pipelines offer alternativesOver the weekend, an Iranian general and member of parliament said that the Islamic Republic was “seriously reviewing” the possibility of closing the Strait of Hormuz, thereby threatening to cut an economic lifeline for Gulf oil producers.
Flynas takes off on the Saudi Exchange

1 week ago | agbi.com | Edmund Bower

Aviation Biggest IPO this yearRaising $1.1bnListing in challenging marketBudget airline Flynas will begin trading on the main market of the Saudi Exchange, concluding the biggest initial public offering in the region this year. The airline is issuing 30 percent of its share capital for $1.1 billion.
Saudi Exchange leads market losses across the GCC

1 week ago | msn.com | Pramod Kumar |Edmund Bower

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Slowdown looms for Saudi construction as PIF cuts contracts

2 weeks ago | agbi.com | Edmund Bower

Analysis Construction Jaap Arriens/NurPhoto via Reuters Connect Dramatic fall in contract awards Reprioritisation of spending Growth forecast in real estate The number of construction contracts issued by the Saudi government and the Public Investment Fund (PIF) has fallen drastically amid a decline in oil revenues and a realignment of large-scale infrastructure projects. The drop indicates a slowdown in the Saudi construction sector, previously one of the most vibrant in the world. Last year...
Growth for Saudi Arabia, but challenges emerge

2 weeks ago | agbi.com | Edmund Bower

Economy Saudi GDP revised higherQ1 non-oil growth leadsInvestment drives momentumSaudi Arabia raised its economic growth estimate for the first quarter, driven by expansion in the non-oil sector. The General Authority for Statistics (Gastat) said on Monday that real GDP grew by 3.4 percent in the three months to March 31, compared with the same period last year.
Saudi Arabia demands more from global asset managers

3 weeks ago | agbi.com | Edmund Bower

Analysis Finance Alamy via Reuters Connect Saudi presence crucial Alignment with Vision 2030 Tech expertise valued International asset managers looking to raise funds in Saudi Arabia can no longer do so as easily without establishing a presence in the kingdom and aligning their activities with the country’s Vision 2030 diversification goals, analysts say. Despite the kingdom’s commitment this year to invest and trade as much as $600 billion in the US economy over Donald Trump’s presidential...
Medina plays catchup to Mecca’s expansion

3 weeks ago | agbi.com | Edmund Bower

Analysis Real Estate Medina adding 20,000 hotel rooms21% room revenue CAGR since 2022Average stay now 10 daysHajj pilgrims arriving at the Grand Mosque in Mecca this week will be the first in more than a decade to see a skyline free of construction cranes.
Oversubscribed Flynas IPO offers hope for other Saudi listings

3 weeks ago | agbi.com | Edmund Bower |Pramod Kumar

Analysis Finance US tariffs, low oil prices taking a toll6 Saudi IPOs so far this year4 more approvedThe Saudi budget airline Flynas announced that the retail tranche of its initial public offering (IPO) was oversubscribed four-and-a-half times.