Egypt's Sisi visits Qatar, nabs $7.5B in investments: What to know President Abdel Fattah al-Sisi’s trip to Doha comes amid Egypt’s moves to improve ties with Turkey and tensions with the UAE over the Gaza war. Egypt
David Petraeus, ex-CIA head, tapped to lead KKR's push into Mideast markets The newly-formed team will identify investment and partnership opportunities in the region, with a focus on the Gulf Cooperation Council countries, the private equity firm said. Saudi Arabia
Turkey's Simsek says economy will ride out Trump tariffs without lasting scars Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop. Turkey
After Israel attack, US follows Hamas trail of money As Israel fights Hamas in the Gaza Strip, the United States is waging its own battle against the militant group’s finances. Qatar
Saudi Aramco, QatarEnergy, UAE’s Emirates among Fortune Arabia top 10 The list of 500 companies from 22 Arab countries posted around $1.6 trillion in revenues in 2022, yielding a net profit of $343 billion. Saudi Arabia
Gaza war could double oil prices, threaten global food security Washington-based multilateral lender World Bank compared the situation to the 1973 Arab oil embargo in its latest Commodities Market Outlook. Israel
Israel credit outlook lowered, budget to be amended amid Hamas war Israel’s credit rating was in trouble before the war in Gaza due to the government’s controversial judicial reform plans, and the war is affecting the country's fiscal situation. Israel
20% rise in Middle East late-stage venture capital funding despite global decline Startups in the Middle East and North Africa have so far in 2023 reported a 20% year-on-year growth, new data shows, while global funding activity of this type has seen a 49% decline from 2022. Gulf
Analysis China's venture capital firms making inroads in Saudi Arabia, UAE Chinese venture capital investors have been pricing deals at more competitive rates and taking advantage of a widening vacuum left by Western rivals in the region. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Saudi Aramco makes first global LNG investment with US MidOcean stake MidOcean Energy is in the midst of buying interests in four LNG projects in Australia as part of its growth strategy. Saudi Arabia
Analysis Saudi Arabia fastest growing crypto economy globally amid regional drive The kingdom led globally with a 12% increase in crypto transaction volume reaching nearly $31 billion from July 2022 through June 2023, according to an industry report released Tuesday. By Salim A. Essaid
Oman's oil and gas sector drives 30% GDP growth in 2022 Oman’s hydrocarbon sector growth rate was 61.6% from 2021 to 2022, compared to non-hydrocarbon sector growth at 16.9% during the same period, according to the Central Bank of Oman (CBO) 2022 Annual Report. Oman
China development financier AIIB opens first global office in UAE Bank officials expect that the new Abu Dhabi location will help extend their reach to finance sustainable development projects. United Arab Emirates
UAE revenue jumps 31.8% in 2022 The UAE Ministry of Finance reported a 6.1% increase in expenditure last year compared to 2021, which amounted to around $116.3 billion. United Arab Emirates
Turkey’s central bank mulls giant interest rate hike up to 10% to fight inflation Alarmed by resurging price increases, central bank officials reportedly believe that a rate hike of up to 10 percentage points is an inevitable part of monetary tightening to tackle inflation. Turkey
