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
UAE’s ‘Second Salary’ savings plan offers its expat majority passive income The savings plan is the first step in establishing a long-term retirement plan structure by the savings and investment company, amid low rates of retirement savings in the region. Legacy: Gulf
Saudi National Bank chairman resigns after Credit Suisse loss Current CEO Saeed Mohammed Al Ghamdi will take over as the new chairman on March 27, with deputy CEO Talal Ahmed Al Khereiji filling his place. Legacy: Gulf
Israeli shekel, stocks rally as Netanyahu pauses judicial reform The right-wing Israeli government’s controversial judicial reform plans have divided Israeli society and led to concerns among the Israeli tech sector and global financial institutions. Israel
UAE, India to boost cooperation via digital currency The Emirati Central Bank has begun implementing its digital dirham strategy following a financial cooperation agreement with India and the UAE's cryptocurrency push. Legacy: Gulf
Saudi Arabia inks 14 deals at Jeddah Grand Prix in boost to sports industry The agreements were part of a comprehensive sponsorship program hosted by Invest Saudi, the kingdom’s investment promotion entity. The value of the deals was not disclosed. Legacy: Gulf
Analysis Jordan economic rating shows upswing, but problems remain Jordanians in the private sector are praising their government's ambitious economic strategies, but still see systemic inefficiencies as a barrier to making them a reality. By Salim A. Essaid
Oil sinks below $75 a barrel, lowest price in more than a year The news follows the Saudi National Bank declining to inject more money into the struggling Credit Suisse, as well as Silicon Valley Bank’s failure. Legacy: Gulf
UAE’s G42 buys $100 million share in China's ByteDance, parent of TikTok ByteDance, the parent company of TikTok, has seen its value fluctuate, predominantly due to investor uncertainty caused by a possible ban on TikTok in the United States. Legacy: Gulf
Saudi National Bank will not increase stake in Credit Suisse after shares drop Credit Suisse’s financial struggles follow the collapse of Silicon Valley Bank and could likewise have ramifications for the Middle East. Legacy: Gulf
Silicon Valley Bank collapse reverberates in Israel, Gulf Israeli startups had a lot of money in Silicon Valley Bank and may need the government’s help. Israel
Major bitcoin fraud case rattles Egypt Hundreds of Egyptians were swindled by an international crypto mining company, raising controversy over the digital currency that has grown in popularity in cash-strapped Egypt. Egypt
Egypt seeks to attract Islamic investors with debut sukuk, EGX Sharia index While the move to allow Islamic bond sales will diversify the government's funding sources, Islamic finance is still a relatively small part of the Egyptian economy. Egypt
