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- Egypt->Israel=$35B for Gas; UAE Made $24.2B from Tourism; Abu Dhabi's Man City Face $13M Losses
Egypt->Israel=$35B for Gas; UAE Made $24.2B from Tourism; Abu Dhabi's Man City Face $13M Losses
Friday, December 19, 2025
Happy Friday everyone!
Today's briefing covers three major developments shaping the region's economic landscape. Egypt has secured its energy future with a $35 billion natural gas deal with Israel running through 2040, addressing critical supply challenges as domestic production declines. The UAE's hospitality sector continues its impressive trajectory with hotel occupancy reaching 79 percent and revenues hitting $24.2 billion in 2025's first ten months. Meanwhile, Abu Dhabi-owned Manchester City FC posted a rare $13 million loss after a trophy-less season, ending a remarkable profit streak.
But before that: For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time). Also, you can join our Whatsapp channel to receive updates from the business world.
Markets
EGX 30 | 40,926.86 | 1.39% |
DFMGI | 6,080.64 | 0.472% |
ADX | 10,000.88 | 0.480% |
Tadawul | 10,450.27 | 0.35% |
Egypt Secures $35 Billion Natural Gas Supply Deal With Israel Through 2040
What’s it About?
Egypt has locked in a major natural gas supply agreement with Israel worth $35 billion, guaranteeing 130 billion cubic meters of gas imports from 2026 to 2040. The deal was approved by Israeli Prime Minister Benjamin Netanyahu on Wednesday after resolving pricing disputes. Gas will flow from Israel's offshore Leviathan field, operated by Chevron Corp, ensuring long-term energy supplies for Egypt's growing domestic needs.
Why it Matters?
Egypt became a net gas importer in 2024 as surging domestic demand outpaced declining production from its own fields, forcing the country to purchase large volumes of expensive liquefied natural gas on international markets. This 15-year agreement provides energy security and price stability, potentially reducing Egypt's dependence on costly LNG imports. The deal addresses Egypt's critical energy shortage while supporting its economic stability amid ongoing energy challenges.
What’s Next?
With contracted gas supplies secured through 2040, Egypt can better manage its energy budget and reduce exposure to volatile global LNG prices. The agreement positions Egypt to potentially decrease future LNG purchases, redirecting resources toward other economic priorities. However, Egypt remains energy-dependent on external sources, highlighting the need for continued investment in domestic production capacity and renewable energy development to achieve long-term energy independence.
UAE Hotel Occupancy Hits 79% As Tourism Revenue Surges To $24.2 Billion
What’s it About?
The UAE's hotel sector recorded 79 percent occupancy during the first ten months of 2025, marking a one percentage point increase from last year and positioning the country among global leaders. The nation's 1,243 hotels, spanning over 216,000 rooms, generated AED89 billion ($24.2 billion) in revenues between January and October, according to Economy and Tourism Minister Abdulla bin Touq Al Marri.
Why it Matters?
Tourism now represents 13 percent of the UAE's GDP, contributing AED257 billion and supporting more than 920,000 jobs. Tourism investment climbed to AED32 billion in 2024 from AED29 billion in 2023, with projections reaching AED35 billion for 2025. Abu Dhabi reported a 25 percent surge in hotel revenue during the first half of 2025, driven by increased cultural visits and heritage site attendance.
What’s Next?
The UAE aims to increase tourism's GDP contribution to 17 percent within five years through expanded aviation infrastructure and strategic investments. Dubai's AED128 billion expansion of Al Maktoum International Airport will accommodate 260 million passengers annually upon completion. The emirate has also launched incentive schemes encouraging hotel development in high-growth zones through public-private partnerships to sustain momentum.
Abu Dhabi-Owned Manchester City Reports $13 Million Loss After Trophy-Less Season
What’s it About?
Abu Dhabi-backed Manchester City FC posted a £9.9 million ($13 million) loss for 2024-25, marking a dramatic reversal after recording profits in nine of the past ten years. The club, owned by Sheikh Mansour bin Zayed Al Nahyan since 2008, attributed the loss to its third-place Premier League finish and early Champions League exit. Revenue reached £694 million, the third-highest in club history, though earnings declined 113 percent year-on-year.
Why it Matters?
The financial setback reflects City's first trophy-less season in eight years, ending a streak of four consecutive Premier League titles. Chairman Khaldoon Al Mubarak acknowledged the disappointing results while noting such seasons are "an inevitable part of the game." Player transfer profits dropped to £95 million from £139 million previously, while summer spending exceeded £176 million on seven recruits including Tijjani Reijnders and Rayan Cherki.
What’s Next?
Manchester City faces uncertainty beyond financial results, with the Premier League investigation into alleged breaches of more than 100 financial rules between 2009 and 2018 still pending. The club must navigate potential sanctions while rebuilding on-field competitiveness after significant summer investment. The outcome of the investigation could have major implications for the club's future operations and standing in English football.
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