Mideast private equity down 38%, but higher-value deals dominate Saudi Arabia was the region’s most active market with 13 transactions, followed by the UAE with 12. Saudi Arabia
Wealthy flock to UAE, fueling Dubai’s 32% company surge: What to know Gulf states are diversifying their economies away from reliance on oil, and the UAE is leading the charge, with the country on track to welcome nearly 10,000 high-net-worth individuals this year. United Arab Emirates
Meet Karim Attiyeh, youngest Arab American billionaire of Lebanese origin Karim Attiyeh, a Lebanese-born technologist, has been named by Forbes Middle East as the youngest billionaire of Arab origin in the United States, joining the list of the 125 richest immigrant billionaires in the US. Lebanon
Saudi Arabia to invest $6B in Syria in boost to Sharaa: What to know The kingdom has been at the forefront of diplomatic and economic efforts to support Syria's recovery. Syria
Dubai crypto authority suspends BitOasis The cryptocurrency platform BitOasis' license was suspended by Dubai's VARA due to noncompliance of licensing requirements. United Arab Emirates
Israel pauses interest rate hikes, first time in a year The Bank of Israel signaled it could raise rates in the future, as inflation remains above the target range. Israel
UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday. United Arab Emirates
Analysis Israeli government postpones interest rates bill for checking accounts The postponement of the bill was decided after an unusually harsh letter by Bank of Israel Gov. Amir Yaron, warning such a move would harm the bank's independence. By Rina Bassist In Paris, reporting on Israeli politics and European affairs
Israel: seizure of millions of dollars in crypto linked to Iran IRGC, Hezbollah The news follows Hamas announcing it will not use Bitcoin anymore and more government scrutiny of cryptocurrency transactions, including by the United States. Israel
Libyan police detain 50 Chinese nationals in crypto farm bust Media from the Tripoli Attorney General Office’s Facebook page show a dingy-looking, windowless room full of hardware, wires and servers being raided by authorities. Libya
Dubai leaps to world’s 7th most expensive city for luxury living, overtaking Paris, Zurich The UAE finance hub made the top 10 list for the first time in Julius Baer’s global wealth index published Tuesday. United Arab Emirates
Putin, MBZ meet in St. Petersburg, vow to boost Russia-UAE ties UAE President Sheikh Mohammed bin Zayed Al Nahyan called for de-escalation of the Russia-Ukraine war and a political resolution. United Arab Emirates
Dubai free zone reports 24% increase in Chinese companies The Dubai Multi Commodities Center has more than 770 Chinese companies in its free trade zone. United Arab Emirates
UAE ranked first globally in attracting new millionaires in 2022 The UAE had the highest net inflow of millionaires in the world in 2022, while China had the highest net outflow, followed by India and the United Kingdom. United Arab Emirates
Saudi Aramco tops Middle East companies for 2023: Forbes The Saudi oil giant continues to perform well on the back of oil prices. The list also revealed strong performances by several Moroccan banks. Legacy: Gulf
Analysis Turkey-UAE honeymoon on horizon after Erdogan's win, economic deals The UAE-Turkey $40 billion trade agreement ratified in May is an expression of the friendship between the two countries’ leaders, according to experts. By Salim A. Essaid
