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
Venture capital funding in Middle East falls by 29% in 2024 Saudi Arabia, which saw $750 million in venture capital funding last year, saw a 44% drop in funding volume in 2024 compared to 2023. Saudi Arabia
France’s Sarkozy stands trial on alleged Libya funding: What we know Former President Nicolas Sarkozy denies allegations that he received 50 million euros to fund his 2007 election campaign from late Libyan leader Moammar Gadhafi. Libya
Gulf wealth funds propel Middle East deals in 2024 The Gulf region continued its trajectory toward becoming a global investment powerhouse as sovereign wealth funds fed capital into AI, clean energy, entertainment, sports, start-ups and tourism. Saudi Arabia
Analysis Middle East IPOs shine in 2024 but face new challenges Middle East IPOs hauled in over $13 billion in 2024, and the region also produced three of the year’s 10 largest listings worldwide. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Who is Maysaa Sabrine, first woman to lead Central Bank of Syria? Syria’s new leadership has appointed Maysaa Sabrine to head the country’s central bank, the first woman to do so in the institution’s history. Syria
Turkey’s Central Bank lowers interest rates for the first time in nearly 2 years The decision to cut interest rates follows 18 months of monetary tightening and comes amid ongoing efforts to stabilize the country’s runaway inflation. Turkey
Analysis Gulf’s citizenship industry poised for growth amid new global uncertainty Flexible visa programs have emerged in the Middle East, fueled by wealthy Gulf states competing to attract foreign investors and skilled professionals as part of their economic diversification strategies. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Mideast merger and acquisition activity hits $36B in 2024 led by UAE, Saudi Arabia For the first 10 months of the year, merger and acquisition deals in the region reached $36 billion, up by 88% from a year earlier, a Bain & Company report said. Saudi Arabia
Saudi Public Investment Fund takes 15% stake in London's Heathrow Airport Spanish construction giant Ferrovial said it had closed the sale of a 19.75% stake in the UK capital’s busiest airport for 2 billion euros ($2.1 billion) to the PIF and French investment firm Ardian. Saudi Arabia
Syria's interim PM warns foreign currency shortage could hinder refugee return Nearly 14 years of civil war, international sanctions and the exodus of 4.82 million Syrians have crippled the economy, resulting in a sharp decline of the Syrian pound. Syria
Bpifrance, Saudi PIF sign $10B financing agreement The five-year agreement will increase collaboration between PIF and Bpifrance Assurance Export, focusing on projects to support Vision 2030, Saudi Arabia’s plan to diversify the economy away from reliance on oil. Saudi Arabia
France's Macron eyes defense deals, Lebanon support on Saudi state visit French President Emmanuel Macron will meet Saudi Crown Prince Mohammed bin Salman for a one-on-one dinner on Tuesday. Saudi Arabia
