Abu Dhabi merges ADQ into new wealth fund L'IMAD: What to know Under the new structure, Sheikh Khaled bin Mohammed, the crown prince of Abu Dhabi, will oversee a broader swath of the emirate’s investment holdings. United Arab Emirates
UAE Central Bank approves first US dollar-backed stablecoin: What to know The approval marks a milestone in the UAE’s development of digital currency infrastructure and positions USDU as the Gulf country’s first USD-denominated currency for digital assets. United Arab Emirates
Iran internet blackout estimated to cost $37M+ daily, crippling businesses and society The ongoing digital disconnection is severely stalling commerce, draining millions of dollars daily and pushing many businesses toward collapse. Iran
Can Iran’s promised economic reforms quell unrest? The Iranian government has made several economic pledges to protesters, though some carry risk of increasing inflation further. Iran
Saudi Arabia, UAE amp up Africa investments amid growing competition Africa is seeing a major uptick in investments from the UAE, Qatar and Saudi Arabia, which presents the possibility of 'greater returns' for the Gulf states. Saudi Arabia
Saudi private equity investment peaked at $4B in 2023 amid rising buyouts The kingdom's deep-pocketed sovereign wealth fund was involved in the top three private equity transactions between 2019 and 2023. Saudi Arabia
Switzerland reports violation by Lebanon’s Audi bank in Riad Salameh probe The action by FINMA concerns connections around disgraced former Lebanese Central Bank governor Riad Salameh. Lebanon
What's behind Saudi Arabia's decision to host first-ever 'Dragon Ball' theme park The announcement of the park based on the popular Japanese anime show follows the kingdom’s developments in video games and mixed martial arts. Saudi Arabia
What’s behind Dubai’s new 20% tax on foreign banks? The UAE implemented its first-ever corporate tax last year in an effort to boost revenue amid the shift away from oil and gas. Legacy: Gulf
Egypt’s pound falls 60% amid currency float, $5B IMF deal Egypt announced that it had expanded a previously $3 billion loan program with the International Monetary Fund after the decision to float the currency was made public. Egypt
Yellen urges Israel to ease West Bank’s economic woes Treasury Secretary Janet Yellen called for Israel to reduce barriers to commerce in the West Bank and reinstate work permits for Palestinians that were revoked after Oct. 7. Israel
Qatar’s first VC fund of $1B expected to 'fuel startup ecosystem in region' The program has two objectives: to generate market-level commercial returns for Qataris and to develop a “vibrant VC and startup ecosystem” in line with the country's national development strategy. Qatar
UAE dropped from global watchdog’s illicit finance list in quick turnaround The Gulf country was added to the Financial Action Task Force's grey list in March 2022. United Arab Emirates
Turkey to play 'important role' in sukuk market despite paused UAE deal Turkey has been looking to shore up financing to help it rebuild its economy after devastating twin earthquakes in 2023 killed more than 53,000 people and cost the country north of $50 billion. Turkey
Israel to reward new immigrants for settling in periphery, West Bank Israel's Immigration and Finance Ministries unveiled a new scheme offering economic incentives for immigrants who settle in peripheral northern or southern communities or in the occupied West Bank. Israel
Why Iraq's dinar is trading below official dollar rate amid new restrictions A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq’s financial system. Iraq
