UAE, Qatar investments fuel Jared Kushner's firm assets to $4.8 billion Commitments from Abu Dhabi–based asset manager Lunate and the Qatar Investment Authority, the sovereign wealth fund, increased Affinity’s assets by $1.5 billion over a year. United Arab Emirates
Meet Karim Souaid, Lebanon’s new central bank chief with daunting mission The appointment of a new central bank governor comes nearly two years after the term of embattled governor Riad Salameh ended in July 2023. Lebanon
Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge The Turkish lira and equities have fallen sharply since the arrest last week of Istanbul Mayor Ekrem Imamoglu — a key rival to President Recep Tayyip Erdogan — on corruption charges, which he denies. Turkey
UAE, Egypt, Saudi Arabia finance startups lead Forbes Middle East Fintech50 Some 119 fintech startups across the Middle East and North Africa raised $700 million in 2024, accounting for 30% of the total MENA startup funding for last year. Saudi Arabia
Analysis A year on, UAE walks BRICS tightrope amid escalating US-Brazil rhetoric By Jennifer Gnana In Dubai, reporting on Gulf energy policy and politics
Turkey’s Central Bank lowers interest rates for the first time in nearly 2 years The decision to cut interest rates follows 18 months of monetary tightening and comes amid ongoing efforts to stabilize the country’s runaway inflation. Turkey
Analysis Gulf’s citizenship industry poised for growth amid new global uncertainty Flexible visa programs have emerged in the Middle East, fueled by wealthy Gulf states competing to attract foreign investors and skilled professionals as part of their economic diversification strategies. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Mideast merger and acquisition activity hits $36B in 2024 led by UAE, Saudi Arabia For the first 10 months of the year, merger and acquisition deals in the region reached $36 billion, up by 88% from a year earlier, a Bain & Company report said. Saudi Arabia
Saudi Public Investment Fund takes 15% stake in London's Heathrow Airport Spanish construction giant Ferrovial said it had closed the sale of a 19.75% stake in the UK capital’s busiest airport for 2 billion euros ($2.1 billion) to the PIF and French investment firm Ardian. Saudi Arabia
Syria's interim PM warns foreign currency shortage could hinder refugee return Nearly 14 years of civil war, international sanctions and the exodus of 4.82 million Syrians have crippled the economy, resulting in a sharp decline of the Syrian pound. Syria
Bpifrance, Saudi PIF sign $10B financing agreement The five-year agreement will increase collaboration between PIF and Bpifrance Assurance Export, focusing on projects to support Vision 2030, Saudi Arabia’s plan to diversify the economy away from reliance on oil. Saudi Arabia
France's Macron eyes defense deals, Lebanon support on Saudi state visit French President Emmanuel Macron will meet Saudi Crown Prince Mohammed bin Salman for a one-on-one dinner on Tuesday. Saudi Arabia
Turkey launches counterfeit US dollar probe as exchange offices halt trade The Banking Association of Turkey said currency counting machines, counterfeit currency detection devices as well as ATMs were being updated against circulation of counterfeit banknotes. Turkey
China embraces debt listings to tap into Gulf’s pool of wealth As UAE stock markets hit $1 trillion in market capitalization for the first time last week, an increasing number of Chinese entities are choosing to list some of their debt on Gulf capital markets. By Sebastian Castelier In Dubai, reporting on regional business
Barclays fined $50M for failing to disclose 2008 Qatari funding The UK-headquartered bank will pay a fine of 40 million pounds to British regulators for failing to disclose information of its rescue by Qatar during the 2008 financial crisis. Qatar
Egypt to launch first IPO in three years amid IMF-fueled privatization drive The move comes amid a privatization drive in Egypt as part of the International Monetary Fund’s conditions to provide Cairo with an $8 billion bailout to help the North African country recover from an economic crisis. Egypt
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
