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
Analysis What is behind Kuwait's change of government, economic woes? The decades-long dance of political reshuffles has prevented the execution of investment and reforms in national infrastructure, health and social services, and also economic projects. By Salim A. Essaid
Saudi Arabia opens four special economic zones with eye on foreign investment The special economic zones offer incentives such as competitive corporate tax rates, 100% ownership of companies and flexibility in employing foreign labor. Legacy: Gulf
Analysis Ball now in Tunisia's court regarding $1.9bn IMF bailout Officials from the IMF, the World Bank and Italy have all commented on the proposed bailout package this week as a Tunisian delegation joins the spring meeting of the multilateral institutions in Washington. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Middle East debt issuances nearly triple in Q1 2023 as Saudis take lead In Q1 of 2023, Saudi Arabia was the leading debt issuer in the MENA region. Legacy: Gulf
Saudi, UAE banks rank highest valued in Middle East: Forbes Gulf Cooperation Council (GCC) countries took 41 places, or 82%, of the list of the 50 highest-valued banks in the Middle East and North Africa. Legacy: Gulf
Egypt's rate hike viewed with skepticism as inflation persists Economists question the logic behind Egypt's new interest rate hike, especially after previous raises failed to bring the inflation rate down. Egypt
Egypt’s privatization plans stall despite growing buzz Only a fraction of the targeted sales to Gulf investors have materialized over the last year, largely due to a general lack of agreement and volatility of the Egyptian economy Egypt
China’s CICC plans UAE, Saudi expansion as Xi builds Middle East ties CICC has about five to six people in its Middle East offices serving the entire region with a mix of Chinese and regional staff. Legacy: Gulf
Bahrain launches 'Golden License' to attract major investment, jobs Only companies with major investment and project portfolios will be eligible for the license, with either a $50 million value or a plan to create 500 jobs in the country, according to the Bahrain Economic Development Board. Legacy: Gulf
Bank of Israel raises interest rate again, warns about judicial fallout The OECD is predicting GDP growth rate to slow in Israel this year, while the Bank of Israel has worked out different scenarios based on fallout from the judicial reform controversy. Israel
UAE Central Bank revokes license of Russia's MTS Bank as sanctions tighten The Central Bank of the UAE plans to close the Russian bank’s operations within six months from the date of the decision. Legacy: Gulf
UAE, Qatar lead Middle East in 2023 global foreign investment ranking The United Arab Emirates sat in the top position among MENA markets and ranked 4th globally. Legacy: Gulf
