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Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Bahrain made the highest rate hike in GCC region

  • The Fed raised the rate by three-quarters of a percentage point for the fourth straight time.
  • The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited.

Dubai, UAE—Earlier this month, hours after the US Federal Reserve raised its key policy rate by three-quarters of a percentage point for the fourth straight time, many Gulf states followed suit, raising their key interest rates. The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited. A senior IMF official had said that higher oil prices are likely to lead to fiscal surpluses and growing foreign reserves for Gulf economies this year, which will reduce the need for governments to borrow and to crowd out the private sector. TRENDS takes a look at the rates in the six GCC countries.