Legacy: Gulf - AL-MONITOR: The Middle Eastʼs leading independent news source since 2012

Legacy: 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.

A general view shows the solar plant in Uyayna, north of Riyadh, on March 29, 2018. - On March 27, Saudi announced a deal with Japan's SoftBank to build the world's biggest solar plant. (Photo by FAYEZ NURELDINE / AFP) (Photo credit should read FAYEZ NURELDINE/AFP via Getty Images)

Oman's green hydrogen to face competition from Saudi Arabia, UAE

Oman aspires to be the Middle East's top producer and exporter of green hydrogen as global demand grows. It'll have to go through Saudi Arabia and the UAE first.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A man walks past a sign of the Reserve Bank of India (RBI) in Mumbai on August 5, 2022. - India's central bank on August 5 hiked interest rates for the third time in four months, as Asia's third-largest economy contends with a widening trade deficit and weakening currency. (Photo by Indranil MUKHERJEE / AFP) (Photo by INDRANIL MUKHERJEE/AFP via Getty Images)

UAE, India to boost cooperation via digital currency

The Emirati Central Bank has begun implementing its digital dirham strategy following a financial cooperation agreement with India and the UAE's cryptocurrency push.

Tesla CEO Elon Musk leaves the Phillip Burton Federal Building on January 24, 2023 in San Francisco, California. Musk testified at a trial regarding a lawsuit that has investors suing Tesla and Musk over his August 2018 tweets saying he was taking Tesla private with funding that he had secured. The tweet was found to be false and cost shareholders billions of dollars when Tesla's stock price began to fluctuate wildly allegedly based on the tweet. (Photo by Justin Sullivan/Getty Images)

Elon Musk denies report that Saudi Arabia, UAE intend to invest in SpaceX

An arm of Saudi Arabia’s Public Investment Fund and an Abu Dhabi-based company were reported to be looking to invest in Elon Musk’s SpaceX, according to The Information, which cited people familiar with investor discussions.

Assad earthquake

Analysis

Assad comeback epitomizes Gulf states' world power ambitions

Visits to Oman and the UAE in recent weeks mark another step in the Syrian president's rehabilitation within the region, and the weakening of Western influence.

Gilles Kepel

By Gilles Kepel

The Dubai metro track is seen along Sheikh Zayed Road, as the Gulf emirate prepares to open its new metro network in a bid to cut dependency on cars and ease congestion, United Arab Emirates, Sept. 9, 2009.

UAE, Oman call for bids on $3 billion transnational railway project

The move aims to expand the role of the private sector in the state-owned project and promote regional integration, with the project connecting Oman’s Sohar Port with the UAE's National Rail Network.

Russian Foreign Minister Sergei Lavrov (R) meets with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan al-Saud in Moscow on March 9, 2023. (Photo by Alexander Zemlianichenko / POOL / AFP) (Photo by ALEXANDER ZEMLIANICHENKO/POOL/AFP via Getty Images)

Saudi Arabia, Iran FMs to meet 'soon' after phone call

Saudi Arabia and Iran agreed earlier this month to resume relations in a deal brokered by China.

An oil tanker unloads imported crude oil at Qingdao port in China's eastern Shandong province on May 9, 2022. - China OUT (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images)

Russia surpasses Saudi Arabia as China’s top oil supplier

Energy-related cooperation between Saudi Arabia and China remains strong, but Russia and Saudi Arabia will continue to compete for the Chinese oil market in the near future.

Saudi central bank

Saudi Arabia, Qatar, Bahrain raise interest rates, mirroring Federal Reserve

The US Federal Reserve raised rates by 0.25% on Wednesday, despite concerns about the effect on the global financial climate.

MOHAMMED HUWAIS/AFP via Getty Images

10 soldiers killed in Yemen as fighting with Houthis resumes in Marib

The fighting in oil-rich Marib is disrupting renewed efforts to end the Yemeni war amid the cautious optimism that has followed the Saudi-Iranian deal.

Pakistan's Prime Minister Nawaz Sharif (L) talks with China's President Xi Jinping (R), ahead of the Belt and Road Forum, in Beijing on May 13, 2017. / AFP PHOTO / POOL / JASON LEE (Photo credit should read JASON LEE/AFP via Getty Images)

Pakistan sees opportunities, questions in China's Iran-Saudi deal

Having often been caught in the middle between the rivals, Pakistan is looking forward to calmer Saudi-Iran relations and reaping economic benefits through its partner, China.

The safety car drives in front of Red Bull Racing's Mexican driver Sergio Perez (L) during the Saudi Arabia Formula One Grand Prix at the Jeddah Corniche Circuit in Jeddah on March 19, 2023. (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Saudi Arabia inks 14 deals at Jeddah Grand Prix in boost to sports industry

The agreements were part of a comprehensive sponsorship program hosted by Invest Saudi, the kingdom’s investment promotion entity. The value of the deals was not disclosed.

A picture shows the headquarters of the Public Warehousing Co. (PWC), also known Agility, in Kuwait City on December 29, 2009. The leading Kuwaiti firm indicted for fraud in connection with multi-billion dollar contracts with the American army said on December 28 that it is in talks with US authorities for an out-of-court settlement. AFP PHOTO/YASSER AL-ZAYYAT (Photo credit should read YASSER AL-ZAYYAT/AFP via Getty Images)

Kuwait’s Agility awarded $1.65 billion in dispute with Iraq's Korek

The Kuwaiti logistics firm accused Korek, which is owned by Kurdish military commander Sirwan Barzani, of using corruption to expropriate its stake.