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
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
Analysis With Saudi Aramco's $50 billion deal, Turkey seeks less dependency on West The two major regional powers had grown distant over the years due to Erdogan’s ties to the Muslim Brotherhood and the 2018 killing at the consulate in Istanbul of Saudi journalist Jamal Khashoggi. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
UAE to cooperate with Hong Kong on fintech, crypto as China ties grow China’s relations with the UAE and other Gulf states are strengthening, particularly regarding economic and energy matters. Legacy: Gulf
Erdogan vs. Kilicdaroglu: What to expect in Turkey's first ever election runoff Though polls give a lead to the incumbent president, a victory by the main opposition leader in Sunday’s presidential runoff seems still possible depending on a combination of challenging factors. Turkey
Qatar forum warns of economic downturn, shift in cryptocurrency One Qatar Economic Forum participant says it will take at least a generation to reach a point where the world can depend on clean power. Qatar
Qatar rolls out $275M market program in latest foreign investment push The Qatar Investment Authority is setting up a market-making initiative to draw in more foreign investor interest and build up its capital markets. Qatar
Double trouble: Lebanon’s Salameh gets second arrest warrant from Germany Riad Salameh is under increased scrutiny in Europe on suspicions of money laundering at a time Lebanon is grappling with a deteriorating financial and economic crisis. Lebanon
