World Bank ups Middle East 2025 economic outlook as oil, tourism rebound The lender expects gross domestic product growth in the region to average 2.8% this year, up from its April forecast of 2.6%. Iran
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
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
India secures trade, power with new naval role in Middle East Without aligning directly with the US-led mission against the Houthis in Yemen, the Indian navy's independent operations set a precedent for India's evolving military posture in West Asia and mark a departure from its traditional strategic restraint. By Mohammed Soliman In Washington, DC, reporting on Gulf politics
Davos 2024: Gold, precious minerals to drive UAE-Turkey trade in 2024, says minister Since 2021, diplomatic ties between the two countries have greatly improved after years of antagonism over differing attitudes toward the Muslim Brotherhood and governance in Egypt. United Arab Emirates
Davos 2024: Gaza, Red Sea high on World Economic Forum agenda More than 300 high-profile public figures will gather at the summit in the Swiss Alpine ski resort, including more than 60 heads of state and government, to discuss global security and business challenges. Israel
On Azerbaijan visit, UAE's MBZ quietly expands influence into South Caucasus The two-day visit carries both geostrategic and economic implications regarding the energy partnership, which go far beyond the bilateral dimension, spanning from South Caucasus to Israel and Europe. United Arab Emirates
Tesla, Volvo pause production lines, oil prices up amid Red Sea tension There is a fast-growing list of companies that have had to recalibrate their business strategies while the Red Sea shipping route remains volatile. Yemen
Analysis Could China’s COSCO halting ships to Israel spark crisis in Sino-Israeli relations? Experts see the move as part of Beijing's effort to echo what it sees as the voice of the global south regarding the war in Gaza. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Will Saudi Arabia see mining gold rush in 2024? The kingdom plans to take advantage of the growing demand for critical minerals to power the green transition. Saudi Arabia
UAE's MBZ in India, meets Modi as Houthis' maritime threat expands The visit comes amid a spike in Houthi maritime attacks that are increasingly disrupting Gulf waters and encroaching on India's coast. Legacy: Gulf
UAE’s AD Ports to develop Egypt Red Sea cruise terminals despite instability Attacks by the Iran-backed Houthis on international ships have prompted some firms to steer clear of the waterway. Legacy: Gulf
UK, Turkish trade ministers meet in Turkey, announce joint railway deal The two countries have an existing trade deal that covers goods but not services, digital trade or data. Turkey
Saudi PIF invested $31.6B in 2023, record in global sovereign wealth funds The PIF is estimated to have nearly $800 billion in assets and wants to become the world’s largest sovereign wealth fund by 2030. Saudi Arabia
Turkey’s exports to Saudi Arabia, UAE and Russia shoot up in 2023: Erdogan The Turkish president also said the country’s total export revenues reached an all-time high. Turkey
