Banking and Finance

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BlackRock gets nod to establish Abu Dhabi office after Saudi HQ plans set

BlackRock, which manages around $11.5 trillion in assets, announced last month that it had obtained a license from the Saudi authorities to open a regional headquarters in Riyadh.

United Arab Emirates

Iran, Russia link payment networks in bid to bypass sanctions

The financial partnership connects the national payment frameworks, aiming to boost trade and tourism between the two sanctioned nations — yet key challenges remain.

Tunisia's president, Kais Saied, attends his swearing-in ceremony before the National Assembly in Tunis on Oct. 21, 2024.

Analysis

As Saied begins new term as president, Tunisians brace for unstable governance

In a second presidential term, Tunisia’s increasingly autocratic ruler is unlikely to secure the political and economic stability the country craves.

Francisco Serrano

By Francisco Serrano

In Lisbon, reporting on North Africa business

This picture taken on March 2, 2022, shows a view of the Boursa Kuwait (Kuwait Stock Exchange) building and the Central Bank headquarters.

Gulf central banks poised for 1% rate cut amid Fed's expected moves under Trump

Capital Economics’ assumption under a Harris presidency was that basis points would fall by 1.5% between now and May 1, compared with a predicted 1% under Trump.

Latest News

Analysis

Egypt: $1.2B at stake as IMF reviews ‘halfhearted’ economic reforms

People walk past a fruit seller's stall in the Azhar district of Egypt's capital, Cairo, on Jan. 16, 2023.

In Bristol, reporting on regional business, climate change, AI, tech

Middle East markets rally after Donald Trump's election victory

Former US President and Republican presidential candidate Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024. Donald Trump claimed victory and pledged to "heal" the country on November 6, 2024 as results put him on the verge of beating Kamala Harris in a stunning White House comeback. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

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Saudi Aramco in 'advanced' talks on hydrogen offtake as Q3 income drops 15.3%

China to issue up to $2B in bonds in Saudi Arabia as business ties deepen

FAYEZ NURELDINE/AFP via Getty Images

Participants arrive to attend the annual Future Investment Initiative conference in Riyadh, on Oct. 29, 2024.

Saudi Arabia's PIF signs $51B in MoUs with Japanese banks amid Asia push

The signings come amid the Future Investment Initiative this week in Riyadh, which attracted hundreds of international companies and investors to the kingdom.

HOLMES CHAN/AFP via Getty Images

Saudi Arabia's NEOM attracts $16B in private financing over 2 years

Saudi Arabia's flagship sustainability project has attracted substantial private investments and is looking for more.

A man walks past an anti-Israel billboard covering the facade of a building in Tehran on October 26, 2024. Residents of Tehran awoke and went about their business as planned on October 26 after their sleep was troubled by Israeli strikes that triggered blasts that echoed across the city. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Analysis

What to make of Iran's 200% defense budget increase amid Israel tensions

The planned increase comes despite a widening deficit and record inflation rates, and after reports suggesting severe damage to Iran's air defense installations and missile production centers in the recent Israeli strike.

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics

BEIJING, CHINA - MARCH 17: Chinese Premier Li Keqiang (2nd-L) meets with Saudi Arabia's King Salman bin Abdulaziz Al Saud (2nd-R) at Great Hall of the People on March 17, 2017 in Beijing, China. At the invitation of President Xi Jinping, King Salman Bin Abdul-Aaziz Al-Saud of the Kingdom of Saudi Arabia will pay a state visit to China from March 15 to 18, 2017. (Photo by Lintao Zhang - Pool/Getty Images)

In first, Saudi Arabia to begin trading China-focused ETF: What we know

The ETF, which will begin trading on the Saudi Stock Exchange, has raised more than $1.2 billion.

FAYEZ NURELDINE/AFP via Getty Images

Saudi's PIF downsizes foreign investment, turns to AI, domestic priorities

Saudi Arabia's sovereign wealth fund is looking to invest in tourism, real estate and sustainability as its Vision 2030 deadline draws closer.

Attendees arrive for the yearly Future Investment Initiative (FII) conference in the Saudi capital Riyadh on Oct. 24, 2023.

Saudi Arabia pushes for Africa debt relief as private investments set to reach $25B

Saudi Arabia is pushing for debt relief for African nations burdened with more than $1 trillion in liabilities.

Attendees take part in the annual Future Investment Initiative (FII) conference in the Saudi capital, Riyadh, Oct. 25, 2022.

What to expect at Saudi Arabia's eighth Davos in the Desert

This year's Future Investment Initiative focuses on tech, energy and investment as Saudi Arabia steps up efforts to diversify its economy away from hydrocarbons.

Attendees take part in the annual Future Investment Initiative (FII) conference in the Saudi capital Riyadh on October 25, 2022. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

What to make of Saudi Arabia's $96B in foreign direct investment in 2023

Driving foreign investment into key sectors is part of Saudi Arabia's efforts to diversify away from an oil-dependent revenue model.

Starbucks sales see 7% drop, largest since pandemic, amid Gaza boycotts

The company has been grappling with protests and boycott campaigns on social media due to the Israel-Gaza war and the union fight in the United States.

AFP via Getty Images

Middle East startups see 34% uptick in global investors

Data firm MAGNiTT reported Tuesday that the Middle East far outperformed other markets and regions, including Africa and Southeast Asia, which saw steeper drops.

Turkey’s President Recep Tayyip Erdogan on Wednesday hosts Abdel Fattah al-Sisi during the Egyptian leader's first-ever Turkey visit, in Ankara, on Sept. 4, 2024.

Analysis

With reconstruction in mind, can Turkey-Egypt thaw offer lifeline for Libya?

The complex interplay of regional and international interests and entrenched divisions within Libya itself suggest that progress may be slow and difficult to achieve.

Mohamed Eljarh

By Mohamed Eljarh

Bahrain's Bapco Energies signs pipeline deal with BlackRock

Bahrain, one of the smallest producers in the Gulf, is focused on developing its downstream sector and looking at asset monetization deals.