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 Iran could benefit from Chabahar Port deal with India India has been reluctant to move ahead with its plans for Chabahar due to US sanctions, despite an exemption. Iran
What does Turkey's three-year austerity plan to curb inflation entail? The plan is to increase the efficiency of the public sector through cost-cutting measures such as a ban on buying new vehicles for civil servants. Turkey
Emirates airline reports record $4.7B profit as Gulf competition heats up The Dubai-based airline has posted strong performance figures in recent months. United Arab Emirates
Turkey, Israel tangle in fresh row over trade ban The fresh tensions between the two regional powers seem to be stemming from a Turkish directive sent to companies that were doing business with Israel to introduce a three-month adjustment period for implementation of the trade ban. Turkey
Israel's Elbit clinches $53M deal to sell mortar systems to Europe Between 2019 and 2023, Israeli weapons constituted 2.4% of the global market, massively reshaped by Russia's invasion of Ukraine and increased imports by European countries. Israel
Dubai crowned wealthiest city in Middle East, home to 72,500 millionaires The number of individuals in Dubai with liquid investment wealth — assets that can be readily converted to cash — of $1 million or more increased by 78% between 2013 and 2023 to 72,500, according to a report. United Arab Emirates
Turkey and Kuwait sign six deals as Erdogan hosts country's Emir The Kuwaiti emir traveled to Turkey for his first foreign visit to a non-Arab country since he took the oath of office in December. Turkey
KFC, Pizza Hut profit in Middle East cut by half amid Gaza war boycotts Americana Restaurants said the decline was due to the “ongoing geopolitical tensions” in the Middle East and the effect of the Ramadan period. Israel
As it seeks to rival China and Pakistan, India sets its sights on Oman trade deal The agreement could serve as a "strategic lever" for New Delhi to expand its influence in the Middle East. Oman
UAE’s non-oil revenues hit by April floods, but quick recovery expected The seasonally adjusted S&P Global UAE Purchasing Managers’ Index fell to 55.3 points in April, still indicating growth, but had been at 56.9 the previous month. United Arab Emirates
UAE, Ukraine conclude trade deal talks, Emirates to help post-war reconstruction Ukraine’s bilateral trade has sharply fallen since Russia invaded the country in February 2022. United Arab Emirates
Can $20B Iraq Development Road project rival India-Middle East corridor? A new trade route is in the works to connect the Gulf with Europe along the Development Road, starting in Iraq. Iraq
