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
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. Saudi Arabia
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. Saudi Arabia
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. By A correspondent in Tehran In Tehran, reporting on politics
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. China
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. Saudi Arabia
Saudi Arabia pushes for Africa debt relief as private investments set to reach $25B Saudi Arabia is pushing for debt relief for African nations burdened with more than $1 trillion in liabilities. Saudi Arabia
What to expect at Saudi Arabia's eighth Davos in the Desert This year's Future Investment Initiative focuses on tech, energy and investment as Saudi Arabia steps up efforts to diversify its economy away from hydrocarbons. Saudi Arabia
What to make of Saudi Arabia's $96B in foreign direct investment in 2023 Driving foreign investment into key sectors is part of Saudi Arabia's efforts to diversify away from an oil-dependent revenue model. Saudi Arabia
Starbucks sales see 7% drop, largest since pandemic, amid Gaza boycotts The company has been grappling with protests and boycott campaigns on social media due to the Israel-Gaza war and the union fight in the United States. Palestine
Middle East startups see 34% uptick in global investors Data firm MAGNiTT reported Tuesday that the Middle East far outperformed other markets and regions, including Africa and Southeast Asia, which saw steeper drops. Saudi Arabia
Analysis With reconstruction in mind, can Turkey-Egypt thaw offer lifeline for Libya? The complex interplay of regional and international interests and entrenched divisions within Libya itself suggest that progress may be slow and difficult to achieve. By Mohamed Eljarh
Bahrain's Bapco Energies signs pipeline deal with BlackRock Bahrain, one of the smallest producers in the Gulf, is focused on developing its downstream sector and looking at asset monetization deals. Bahrain
