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Gulf

The PwC Tower, or Libeskind Tower, Milan, March 12, 2021.

Analysis

Can Gulf states slash costly reliance on Western consultancies?

A one-year ban on PwC acquiring work in Saudi Arabia has highlighted the Gulf states' dependency on Western firms and the need to develop local consultancies and talent.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Employees of Aramco oil company work in Saudi Arabia's Abqaiq oil processing plant on September 20, 2019.

Analysis

Can Saudi Arabia afford giga-projects with oil prices under $75 per barrel?

Riyadh could soon run a current account deficit as oil revenue declines amid huge spending commitments toward ambitious Vision 2030 projects. Saudi-led OPEC has also deferred an output increase plan to allow more time to reach desired oil prices.

Jennifer Gnana

Samuel Wendel

By Jennifer Gnana , Samuel Wendel

GIUSEPPE CACACE/AFP via Getty Images

UAE's final unit of Barakah nuclear reactor hooked to grid: What we know

The Emirates is the only Gulf country with a nuclear power program, though neighboring Saudi Arabia also has atomic power ambitions.

United Arab Emirates

A cargo ship is docked at the port of Yemen's Huthi-held city of Hodeida on July 28, 2024. Photo by -/AFP via Getty Images)

Saudi entity denies its ship hit as Houthis claim attack on Greek tanker

Saudi Arabia's national shipping company Bahri denied reports that its tanker Amjad came under attack by the Houthis, the Yemeni armed group that has stepped up attacks on oil tankers in the Red Sea.

Latest News

Analysis

Telegram CEO's arrest spotlights UAE’s investment-based citizenship laws

MUNICH, GERMANY - JANUARY 24: Pavel Durov of Vkontakte speaks during the Digital Life Design conference (DLD) at HVB Forum on January 24, 2012 in Munich, Germany. ence and culture which connects business, creative and social leaders, opinion-formers and investors for crossover conversation and inspiration. (Photo by Nadine Rupp/Getty Images)

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Heavy floods hit Dubai, airport as Oman toll rises to 18

Dubai's roads were badly hit by the heavy downpours

Agence France-Presse

Oman launches $5 billion 'Future Fund' in sign of economic progress

HAITHAM AL-SHUKAIRI/AFP via Getty Images

Al-Qaeda attack in Yemen kills 2 members of southern forces

Security forces deploy near Aden International Airport in Yemen's southern city on April 14, 2023 during a prisoner exchange between the internationally recognised-government and the Sanaa-based Huthi rebels.

Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman (L), India's Prime Minister Narendra Modi (C) and US President Joe Biden attend a session as part of the G20 Leaders' Summit at the Bharat Mandapam in New Delhi on Sept. 9, 2023.

Analysis

India's economic corridor to Europe via Saudi, UAE: a win for US, West Asia

In reflection of the emerging multipolar world, Riyadh and Abu Dhabi aim to transform their bilateral relations with Washington, Brussels, and Delhi into multidimensional partnerships by joining the IMEC, with energy serving as a core pillar but not the sole one.

Mohammed Soliman

By Mohammed Soliman

In Washington, DC, reporting on Gulf politics

Britain's Prime Minister David Cameron, China's President Xi Jinping, Manchester City chairman Khaldoon Al Mubarak, head of the Elite Development Patrick Vieira and striker Sergio Kun Aguero during a visit to the City Football Academy on October 23, 2015 in Manchester, England. The President of the People's Republic of China, Xi Jinping and his wife, Madame Peng Liyuan, are paying a State Visit to the United Kingdom as guests of The Queen. They will stay at Buckingham Palace and undertake engagements in Lon

Mubadala opens office in Beijing as UAE-China ties grow

The United Arab Emirates' Mubadala Investment Company began operations in the Chinese capital this week.

Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman.

Saudi Arabia’s Vision 2030 will benefit Islamic finance sector, says Moody’s

The kingdom has the largest Islamic banking market in the world, and roughly 83% of its total assets are Sharia-compliant.

Israel's Foreign Minister Eli Cohen (L) attends a press conference with his counterpart from Bahrain Abdul Latif al-Zayani (R), during his visit to the capital Manama on September 4, 2023. (Photo by Mazen Mahdi / AFP) (Photo by MAZEN MAHDI/AFP via Getty Images)

Hamas, Hezbollah lash out at Bahrain as Israeli FM concludes visit

Hamas criticized the visit as Israel’s relations with the island kingdom continue to improve, despite historically high tensions with the Palestinians.

refugee camp

UN mulls green Islamic bonds to fund climate change refugee projects

The United Nations is reportedly interested in issuing Islamic bonds to help those displaced by climate change.

Alireza Bigdeli (R).

Saudi Arabia, Iran exchange ambassadors as thaw continues

The exchange of ambassadors between Saudi Arabia and Iran is the first since 2016 and follows the resumption of relations between the two countries in March.

Russian President Vladimir Putin (L) meets with Saudi Arabia's Crown Prince Mohammed bin Salman in Riyadh, Saudi Arabia, on October 14, 2019. (Photo by Alexey NIKOLSKY / SPUTNIK / AFP) (Photo by ALEXEY NIKOLSKY/SPUTNIK/AFP via Getty Images)

Oil prices surge as Saudi Arabia, Russia extend 1.3 million barrel cut through December

The production cuts by Saudi Arabia, Russia and the OPEC+ alliance have succeeded in keeping oil prices up but have also had some negative effects on the Saudi economy.

FAYEZ NURELDINE/AFP via Getty Images

Saudi-China cooperation strengthens with stock exchange deal

China is growing closer to Saudi Arabia politically and economically as business deals pile up.

Wind turbines

Islamic finance will be 'crucial part' of climate transition: UK official

The UK is seen as a Western hub for the industry due to its high presence of Islamic banks and more than 70 sukuk bonds being listed on the London Stock Exchange.

BRICS

Saudi Arabia, UAE, Iran give BRICS economic boost, but won’t rival US leadership

Tangible economic benefits may be some distance away, experts say, but the symbolic benefit is joining an alliance separate from, or opposed to, Western interests.

President of China Xi Jinping (R) and South African President Cyril Ramaphosa (L) attend the China-Africa Leaders' Roundtable Dialogue on the last day of the 2023 BRICS Summit in Johannesburg on August 24, 2023. (Photo by ALET PRETORIUS / POOL / AFP) (Photo by ALET PRETORIUS/POOL/AFP via Getty Images)

What's driving Gulf interest to join BRICS?

Joining the bloc allows Gulf states to gain traction in their status and stake holding as providers of both a model of economic growth and development, and in the mechanisms to provide capital.

In Washington, DC, reporting on regional energy

Nvidia 1

US denies it had 'blocked' AI chip sales to some Middle Eastern countries

The US Commerce Department was quick to distance itself from the reports — but it did not directly address imposing license restrictions on certain types of chips.