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 Libya: Behind abduction and failed central bank coup in Tripoli The bank's head of information technology was abducted on Sunday morning but returned hours later. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Interview Nomo Bank sees increasing appetite for Islamic investments, ETFs Paul Szumilewicz, chief revenue officer at UK-based Nomo Bank, said there is a growing demand from the bank’s clients to invest in exchange-traded funds (ETFs) — a pre-defined group of bonds, stocks or commodities poured into a fund and listed on the stock exchange. Paul Szumilewicz Nomo Bank Chief Revenue Officer
Global stocks tank over fears of Middle East war, US recession On Wall Street, the S&P 500 lost 3.1% while the tech-focused Nasdaq Composite Index lost 3.7% of its value after markets opened in New York Monday morning. Israel
Gulf investment in UK real estate to hit $4B annually, says BLME Research predicts that demographic trends and supply shortages will make the UK's real estate sector a more popular option for investors in the future. Saudi Arabia
Turkey returns $5B deposit to Saudi Arabia amid economic recovery The Saudi Fund for Development decided to hold the funds in the Turkish Central Bank in March 2023 after ministerial meetings the previous year — the deposit helped Turkey firm up its weakened currency, the lira. Turkey
Turkey sees 157% wealth growth despite economic malaise Bloated asset prices due to sky-high inflation put Ankara at the top of the survey, despite many Turks struggling to get by in real cash terms. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Iran advances de-dollarization among BRICS members to counter US dominance As a new addition to the BRICS group of nations, Iran has been promoting an ambitious campaign within the alliance to counter US influence over global markets and alleviate the impacts of American sanctions on its own economy. Iran
Can Egypt's new cabinet overcome public skepticism, economic discontent? The new cabinet in Egypt is expected to address the country’s economic woes, although some analysts doubt its ability to do so. Egypt
Middle East startups see funding fall by 34% in first half of 2024 Although startup funding levels have plateaued globally, MENA reported an increase in early-stage rounds and investor participation. United Arab Emirates
Egypt’s remittances reach $2.7 billion in boost to foreign reserves Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues. Egypt
What’s behind Saudi Public Investment Fund’s $17.2B profit? The sovereign wealth fund’s turnaround following the loss in 2022 is due in large part to the stock market rebounding. Saudi Arabia
Barclays plays down Israel military links as protesters target branches More than 15 branches of the bank across England and Scotland were found with windows smashed and red paint daubed over the buildings as part of a protest calling on the bank to divest from arms companies that sell to Israel as well as from fossil fuel businesses. Palestine
