UAE deepens Asia ties as Malaysia, Australia trade deals kick in Asia accounts for around 60% of the world’s gross domestic product and pursuing trade deals there helps the UAE hedge against dependence on both the US and China. United Arab Emirates
What’s next for Saudi Arabia’s budget balancing act as deficit doubles? The Gulf state now expects a deficit of $65.3 billion in 2025 — more than double the initial forecast — as the kingdom continues heavy spending amid weak oil prices. Saudi Arabia
After China, Saudi industry minister visits Vietnam in eastward economic push Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with a number of Vietnamese officials on Monday as the oil-rich Gulf kingdom looks east to diversify its economic alliances. Saudi Arabia
Sudan, Russia sign trade deals as Khartoum seeks funds, Moscow eyes Red Sea port The meeting in Moscow produced two agreements and an economic and trade cooperation protocol. Sudan
Analysis OECD forecasts 3.7% growth for Saudi Arabia, citing US tariff shield By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Carrefour retreats in Mideast, can new Gulf superstore brand advance? By Samuel Wendel In Washington, DC, reporting on regional business and tech
How Trump, Harris presidencies could impact Middle East oil markets Trump has favored a more interventionist approach toward OPEC, while the Biden-Harris administration has used the US' strategic petroleum reserves to influence oil policy Saudi Arabia
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
France, Morocco ink over $10B in deals during Macron visit King Mohammed VI welcomed Macron to Morocco as part of a three-day visit by the French president in which around 20 deals were agreed upon. Morocco
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 In Morocco, France's Macron dangles Western Sahara concessions to mend ties After years of diplomatic disputes, French President Emmanuel Macron is adamant on repairing ties with Morocco. By Rina Bassist In Paris, reporting on Israeli politics and European affairs
Saudi Arabia ramps up renewable tenders to 44 GW, doubles down on oil and gas Saudi Arabia's renewable energy capacity under development will reach 44GW by end of 2024. However, its energy minister told an industry conference that the country will "monetize every molecule" of its oil and gas resources. Saudi Arabia
Saudi Aramco expects oil demand to average 104.5 million bpd in 2024 The CEO of the world's largest oil-exporting company sounded more bullish on oil demand compared with OPEC and the IEA. Saudi Arabia
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
UAE, Egypt pursue Iran outreach at first joint BRICS summit in Russia The summit in the Russian city of Kazan was the first to feature Iran, Egypt and the UAE as full members. Iran
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
