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
Turkey’s Erdogan arrives in Saudi Arabia, first stop on Gulf tour Turkish President Recep Tayyip Erdogan said his three-day Gulf tour, which includes Saudi Arabia, Qatar and the United Arab Emirates, will focus on economic cooperation. Turkey
Japan’s PM visits UAE after Saudi Arabia, talks green energy, supply sources Japan is trying to move away from fossil fuels toward greener energy, which it plans to promote in the region during Prime Minister Fumio Kishida’s visit to the Gulf this week. Saudi Arabia
EU, Tunisia ink 'strategic partnership' to help economy, stem migrants It comes after weeks of talks between the two parties about the EU providing around 1 billion euros in aid, which would be dependent on Tunisia's IMF bailout. Tunisia
Can Iran balance dependence on China with economic openness on India? The International North-South Transport Corridor project has become a matter of urgency for Russia, India and Iran, as it would help Moscow and Tehran develop new markets and evade sanctions. Iran
Is Turkey ready to join European Union as Erdogan jump-starts its bid? In line with its founding father Mustafa Kemal Ataturk’s vision, Turkey had historically positioned itself as a part of the Europe. Erdogan’s unexpected push may lead to some progress in certain avenues, experts and observers believe. Turkey
Iran’s Raisi seals 21 deals on Africa trip, attends drone exhibit in Kenya Iran is seeking stronger ties to sub-Saharan Africa but faces competition from the Gulf and China. Iran
Iran in quest for foothold in Africa as Raisi sets out for landmark visits The Iranian delegation looks to sign agreements in Kenya, Uganda and Zimbabwe, looking also on the horizon to engage in a tight race with such foreign investors as China, Saudi Arabia and the United Arab Emirates. Iran
Turkey's finance, banking chiefs to visit Saudi Arabia in search of foreign funds The Saudi visit of Finance Minister Mehmet Simsek and Central Bank Governor Gaye Erkan is expected to be followed by the Turkish President's Gulf tour. Turkey
In Moscow, Russia's Lavrov welcomes Gulf states' rapprochement with Iran Russia’s Foreign Minister Sergey Lavrov said that Russia and GCC countries will expand their cooperation together in areas of economic trade, defense, security, energy and politics. Legacy: Gulf
Iran boasts to OPEC of growing crude sales despite sanctions Iran's top energy official told oil-exporting nations that the Islamic Republic is in good shape bypassing sanctions to sell its lifeline product as he advertised an attractive investment market in his country. Iran
Analysts skeptical new Iran-US arrangement would significantly impact oil market Tehran has been increasing its output over the last year despite the sanctions on its oil industry. Iran
Turkey raises taxes up to 20% on basic goods as deficit, inflation linger The move follows changes to Turkey’s monetary policy and a new cabinet following President Recep Tayyip Erdogan’s reelection. Turkey
