Saudi investment minister visits Morocco, Senegal on Africa trade drive Saudi Arabia has pledged more than $41 billion in investment in sub-Saharan Africa over the next decade. Saudi Arabia
Iran, Russia, Central Asia states ink Caspian Sea pact, plan naval drills The navies of Iran, Russia, Azerbaijan and Kazakhstan signed a comprehensive strategic cooperation agreement on Wednesday, aimed at strengthening security in the Caspian Sea basin as the four countries deepen their relations. Iran
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
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 opposition pledges return to economic orthodoxy, faces uphill task An opposition victory in Turkey’s upcoming elections should put the country back on the path of economic orthodoxy, but the huge cost of the February quakes dictates tough revisions to any economic plans. Turkey
Who is exempt from UAE’s upcoming corporate tax? Government entities, investment funds and others will be exempt from the first-ever corporate tax that will soon take effect in the Emirates. Legacy: Gulf
UNRWA staff in Gaza strike as demands remain unmet UNRWA schools and clinics in the besieged enclave were closed as the agency failed to meet its staff’s demands. Palestine
Analysis In China, Macron eyes bigger role for France on Iran and Middle East On the sideline of French efforts to construct a healthy economic relationship with the Chinese giant, Paris also signals it is willing to cooperate with Beijing on talks regarding Iran's nuclear program. By Rina Bassist In Paris, reporting on Israeli politics and European affairs
Inflation hits 33.9% in Egypt as food prices surge Egypt’s Central Bank continues to raise interest rates amid surging inflation, but past rate hikes have failed to alleviate the situation. Egypt
Gulf's economic transformation will drive air traffic, IATA says Kamil Al-Awadhi, the association's Middle East chief, said countries in the region have spurred air traffic by hosting global business, political and sporting events. Legacy: Gulf
Egypt's rate hike viewed with skepticism as inflation persists Economists question the logic behind Egypt's new interest rate hike, especially after previous raises failed to bring the inflation rate down. Egypt
China's emergence as Saudi-Iran broker signals multipolar diplomacy in Middle East As China hosts on Thursday the Saudi and Iranian foreign ministers in Beijing, the Gulf states have an opportunity to capitalize on its growing role. Legacy: Gulf
UAE’s Mohamed bin Zayed calls Israel’s Netanyahu amid tensions The call follows continued rescheduling of Netanyahu’s trip to the UAE and the Gulf state’s criticism of new coalition. Legacy: Gulf
Saudi Arabia sees 'steep decline' in demand for large houses The kingdom's growing younger population is seeking to move out of their family homes earlier to seek jobs elsewhere in the country. Legacy: Gulf
Saudi continues regional reshuffle in hosting Egypt's Sisi, opening to Assad The meeting between President Abdel Fattah al-Sisi and Saudi Crown Prince Mohammed bin Salman comes as Egypt faces a deepening economic crisis and the region witnesses major realignments. Legacy: Gulf
OPEC+ likely to maintain output in light of Kurdish oil dispute Analysts say the OPEC+ alliance is unlikely to cut production and there could be be a oil glut in the second half of 2023. Legacy: Gulf
