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. By Samuel Wendel In Washington, DC, reporting on regional business and tech
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. By Jennifer Gnana , Samuel Wendel
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
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. Yemen
Analysis Telegram CEO's arrest spotlights UAE’s investment-based citizenship laws By Jennifer Gnana In Dubai, reporting on Gulf energy policy and politics
Iran's IRGC holds military drills at disputed UAE islands Iran held war games as a top oil official said the Islamic Republic will not give up “one iota” of its rights to the disputed Durra gas field in a potential sign of tension with Arab Gulf states. Iran
Gulf investment in UK property expected to reach $3.2 B in 2024 Middle Eastern investors are capitalising on lower property valuations and those investors are likely to refinance when interest rates start falling, the Islamic bank said. Gulf
Japan’s Nomura subsidiary receives crypto license in UAE The crypto sector is booming in the United Arab Emirates thanks to clear regulations on virtual assets. Gulf
UK investment minister: GCC trade deal would develop AI, fintech sectors In 2022, trade between the UK and GCC countries amounted to 33.1 billion pounds ($42.6 million). Gulf
Saudi Arabia, UAE, Turkey, Algeria and Egypt express ‘concern’ over Niger coup The coup in the West African country could be a victory for Russia. The Gulf has economic interests in the region. Gulf
Kuwait to begin drilling in disputed gas field with Iran Kuwait and Saudi Arabia’s dispute with Iran over the Durra gas field is coming amid improved ties between Iran and the Gulf. Gulf
Middle East startups navigate funding crunch as global venture slump deepens A once hot venture market for Middle East startups is cooling amid an enduring global investment slump. Samuel Wendel In Washington, DC, reporting on regional business and tech
Gulf central banks raise interest rates after US Federal Reserve decision Gulf central banks also held firm in June when the Fed paused its rate hikes. Gulf
IMF dims 2023 Middle East outlook as Saudi Arabia's growth slows The International Monetary Fund's projections for the Middle East and North Africa are down slightly in its latest report. Gulf
UAE joins India's Global Biofuel Alliance on clean energy ahead of COP28 The UAE minister of energy and infrastructure announced Wednesday that his country is a willing participant in the global alliance and has been investing heavily in biofuels. Gulf
Bahraini cryptocurrency firm Rain to operate in UAE Cryptocurrency is growing in both the UAE and Bahrain amid regulatory challenges and market downturn. Gulf
Dampened China demand driving up Middle East purchases of Russian oil China's appetite for fuel oil has been slowly increasing since the COVID-19 pandemic when the country implemented some of the strictest lockdowns in the world. Gulf
