Banking and Finance

Jared Kushner, founder and CEO of Affinity Partners, and Steve Witkoff, US Middle East envoy, during a panel discussion at the FII Priority summit, Miami Beach, Feb. 20, 2025.

UAE, Qatar investments fuel Jared Kushner's firm assets to $4.8 billion

Commitments from Abu Dhabi–based asset manager Lunate and the Qatar Investment Authority, the sovereign wealth fund, increased Affinity’s assets by $1.5 billion over a year.

United Arab Emirates

Karim Souaid

Meet Karim Souaid, Lebanon’s new central bank chief with daunting mission

The appointment of a new central bank governor comes nearly two years after the term of embattled governor Riad Salameh ended in July 2023.

Protesters clash with Turkish riot police using tear gas and water cannon during a demonstration following the arrest of the mayor of Istanbul in Ankara, on March 22, 2025.

Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge

The Turkish lira and equities have fallen sharply since the arrest last week of Istanbul Mayor Ekrem Imamoglu — a key rival to President Recep Tayyip Erdogan — on corruption charges, which he denies.

Participants arrive to attend the annual Future Investment Initiative (FII) conference in Riyadh on Oct. 29, 2024.

UAE, Egypt, Saudi Arabia finance startups lead Forbes Middle East Fintech50

Some 119 fintech startups across the Middle East and North Africa raised $700 million in 2024, accounting for 30% of the total MENA startup funding for last year.

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Analysis

A year on, UAE walks BRICS tightrope amid escalating US-Brazil rhetoric

UAE President Sheikh Mohammed bin Zayed Al Nahyan walks with President Luiz Inacio Lula da Silva of Brazil, on an official visit to the United Arab Emirates, April 15, 2023.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

UK removes 24 Syrian entities from sanctions list, including central bank

Syrian central bank

Saudi Arabia's PIF bans PwC advisory, consulting services: What to know

The PricewaterhouseCoopers offices are pictured on Oct. 2, 2018, in London, England.

Saudi Arabia markets Middle East's first euro green bond: What to know

Delegates arrive for the opening session of the United Nations Convention to Combat Desertification, UNCCD COP16, in the Saudi capital Riyadh on December 2, 2024. Saudi Arabia is hosting the COP16 UN conference on land degradation and desertification as the top oil exporter pitches itself as an environmental defender despite criticism of its role at climate talks. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Iran, Russia link payment networks in bid to bypass sanctions

The financial partnership connects the national payment frameworks, aiming to boost trade and tourism between the two sanctioned nations — yet key challenges remain.

Tunisia's president, Kais Saied, attends his swearing-in ceremony before the National Assembly in Tunis on Oct. 21, 2024.

Analysis

As Saied begins new term as president, Tunisians brace for unstable governance

In a second presidential term, Tunisia’s increasingly autocratic ruler is unlikely to secure the political and economic stability the country craves.

Francisco Serrano

By Francisco Serrano

In Lisbon, reporting on North Africa business

This picture taken on March 2, 2022, shows a view of the Boursa Kuwait (Kuwait Stock Exchange) building and the Central Bank headquarters.

Gulf central banks poised for 1% rate cut amid Fed's expected moves under Trump

Capital Economics’ assumption under a Harris presidency was that basis points would fall by 1.5% between now and May 1, compared with a predicted 1% under Trump.

People walk past a fruit seller's stall in the Azhar district of Egypt's capital, Cairo, on Jan. 16, 2023.

Analysis

Egypt: $1.2B at stake as IMF reviews ‘halfhearted’ economic reforms

The International Monetary Fund's delayed review began Tuesday, and Egypt could see the release of more than $1.2 billion in financing.

In Bristol, reporting on regional business, climate change, AI, tech

Former US President and Republican presidential candidate Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024. Donald Trump claimed victory and pledged to "heal" the country on November 6, 2024 as results put him on the verge of beating Kamala Harris in a stunning White House comeback. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

Middle East markets rally after Donald Trump's election victory

Saudi Arabia’s benchmark index, the TASI, gained 0.9%, while Dubai's main share index gained 0.5%. The Abu Dhabi Securities Exchange, a key player in the region’s stock markets, gained 0.4%.

Saudi Aramco in 'advanced' talks on hydrogen offtake as Q3 income drops 15.3%

Aramco's Q3 net income fell 15.3% to $27.6 billion on low oil prices. Aramco is looking to expand into new business areas such as renewables and hydrogen.

FAYEZ NURELDINE/AFP via Getty Images

China to issue up to $2B in bonds in Saudi Arabia as business ties deepen

The two countries have been deepening economic and trade ties to help each other meet strategic initiatives such as China’s Belt and Road Initiative with Saudi Arabia’s Vision 2030 plan.

Participants arrive to attend the annual Future Investment Initiative conference in Riyadh, on Oct. 29, 2024.

Saudi Arabia's PIF signs $51B in MoUs with Japanese banks amid Asia push

The signings come amid the Future Investment Initiative this week in Riyadh, which attracted hundreds of international companies and investors to the kingdom.

HOLMES CHAN/AFP via Getty Images

Saudi Arabia's NEOM attracts $16B in private financing over 2 years

Saudi Arabia's flagship sustainability project has attracted substantial private investments and is looking for more.

A man walks past an anti-Israel billboard covering the facade of a building in Tehran on October 26, 2024. Residents of Tehran awoke and went about their business as planned on October 26 after their sleep was troubled by Israeli strikes that triggered blasts that echoed across the city. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Analysis

What to make of Iran's 200% defense budget increase amid Israel tensions

The planned increase comes despite a widening deficit and record inflation rates, and after reports suggesting severe damage to Iran's air defense installations and missile production centers in the recent Israeli strike.

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics

BEIJING, CHINA - MARCH 17: Chinese Premier Li Keqiang (2nd-L) meets with Saudi Arabia's King Salman bin Abdulaziz Al Saud (2nd-R) at Great Hall of the People on March 17, 2017 in Beijing, China. At the invitation of President Xi Jinping, King Salman Bin Abdul-Aaziz Al-Saud of the Kingdom of Saudi Arabia will pay a state visit to China from March 15 to 18, 2017. (Photo by Lintao Zhang - Pool/Getty Images)

In first, Saudi Arabia to begin trading China-focused ETF: What we know

The ETF, which will begin trading on the Saudi Stock Exchange, has raised more than $1.2 billion.

FAYEZ NURELDINE/AFP via Getty Images

Saudi's PIF downsizes foreign investment, turns to AI, domestic priorities

Saudi Arabia's sovereign wealth fund is looking to invest in tourism, real estate and sustainability as its Vision 2030 deadline draws closer.