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
Lebanon’s army suffers with currency collapse as desertions mount The drastic devaluation of wages threatens soldiers’ performance in the tumultuous period Lebanon is going through. Lebanon
New rail network on track to bring billions into UAE economy The railway will serve the UAE’s sustainability goals by reducing carbon emissions in the road transportation sector. Legacy: Gulf
UAE's IDEX weapons fair brings in Russia, China, and billion-dollar deals The United Arab Emirates’ defense expenditure amounted to $22.5 billion last year and is expected to reach $28.6 billion by 2027. Legacy: Gulf
Iran's currency dips to all-time low, basic prices skyrocket Recently launched government plans to restore stability to the troubled foreign exchange market proved no remedy, as ordinary Iranians continue to see their pockets shrink. Iran
Oman opens airspace to Israeli flights, following Saudi Arabia Israel’s Foreign Minister Eli Cohen has thanked the Sultan of Oman and the Biden administration for an airspace agreement that will shorten Israeli flight times to Asia considerably. Israel
US, India, UAE, Israel convene I2U2 forum in Abu Dhabi The meeting builds on the food security initiative spearheaded by President Joe Biden in 2021 in preparation for global climate change. Legacy: Gulf
COP-28 head Sultan Al Jaber: UAE ‘running toward’ energy transition As the climate summit president continues to face criticism for his role as head of the UAE's state oil producer, Sultan Al Jaber argued that his position will serve more as an asset than an obstacle to energy transition. Legacy: Gulf
IMF director credits Gulf, India in boosting global economy The World Government Summit highlighted critical issues with the global economy and announced flying taxis in Dubai. Legacy: Gulf
From Israel to Egypt, how Adani Group's downfall could reverberate in Middle East The Indian tycoon's crumbling empire had made investments in Israel and Egypt, but relations between India and the region may chill if deals go bad. Israel
Egypt plans to sell stakes in 32 state-owned companies within year The announcement comes as the government is moving to reduce the state’s footprint in the economy, and includes two military-owned enterprises and three banks. Egypt
Egypt's economy takes another hit with rating downgrade Moody’s also said Egypt’s ability to generate domestic funding will help its economic outlook. Egypt
In Turkey, questions about country's preparedness after massive earthquake Only 0.5% of spending from the central government budget last year went to programs related to urban improvements and disaster management in quake-prone Turkey. Turkey
