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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.

Traders follow the movement of stock prices at the Kuwait Stock Exchange, Kuwait City, March 2, 2022.

Kuwait asks Asian refiners to take less oil as Al Zour refinery ramps up output

Kuwait Petroleum Corporation informed some buyers that Kuwait Export Blend crude supply could be reduced under new annual contracts as soon as April, according to Reuters.

An aerial view shows the Central Business District (Ruwi) in the Omani capital Muscat on April 9, 2021. (Photo by Haitham AL-SHUKAIRI / AFP) (Photo by HAITHAM AL-SHUKAIRI/AFP via Getty Images)

Investors eye state energy firm OQ as Oman stock market poised for take off

Oman's stock market is back on investors' radar after its largest IPO in over a decade saw state energy company OQ raise $244 million.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

People take picture from a observation bridge of Rain Vortex as a train passes at Jewel Changi airport in Singapore on December 7, 2022. (Photo by Roslan RAHMAN / AFP) (Photo by ROSLAN RAHMAN/AFP via Getty Images)

Qatar loses 'World’s Best Airport' to Singapore, Turkey's Istanbul climbs to 6

Most Gulf Cooperation Council city airports went up in rank from last year's SKYTRAX’s World Airport Awards.

Iran Saudi

China’s global brokerage may reshape Middle East relations

The endless war in Yemen, which has devastated one of the poorest countries on the planet, should be the first litmus test for China's mediating capacity between Iran and Saudi Arabia.

US Consul General of Jerusalem Michael Ratney speaks at the American consulate in Jerusalem on June 4, 2015 during a reception ahead of the 4th of July American Independence day celebrations. AFP PHOTO/AHMAD GHARABLI (Photo credit should read AHMAD GHARABLI/AFP via Getty Images)

Saudi Arabia finally gets a US ambassador after 2-year vacancy

The career diplomat’s confirmation follows China's brokered deal between Saudi Arabia and Iran, as well as improving relations between Washington and Riyadh.

Ali Shamkhani with UAE President Sheikh Mohammed bin Zayed

Top Iran official meets UAE's Mohammed bin Zayed after Saudi thaw

On his trip to Abu Dhabi, Iran's Ali Shamkhani spoke of "constructive" engagement as Tehran is exhausting all channels to push back on its growing isolation.

A worker in an oil field developed by Almetyevneft, an oil and gas production board (NGDU) of Tatneft.

Oil sinks below $75 a barrel, lowest price in more than a year

The news follows the Saudi National Bank declining to inject more money into the struggling Credit Suisse, as well as Silicon Valley Bank’s failure.

France's President Emmanuel Macron (L) arrives with Saudi Crown Prince Mohammed bin Salman for a working dinner at presidential Elysee Palace in Paris on July 28, 2022. - French President Emmanuel Macron host Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris on July 28, 2022, outraging rights groups and the fiancee of slain Saudi journalist Jamal Khashoggi. (Photo by BENOIT TESSIER / POOL / AFP) (Photo by BENOIT TESSIER/POOL/AFP via Getty Images)

Analysis

France cautious about China's role but welcomes Iran-Saudi agreement

Paris would have much preferred that the Saudi-Iran rapprochement would have been reached by means other than Chinese mediation.

Rina Bassist

By Rina Bassist

In Paris, reporting on Israeli politics and European affairs

People walk past the headquarters of ByteDance, the parent company of video sharing app TikTok, in Beijing on September 16, 2020. - Silicon Valley tech giant Oracle is "very close" to sealing a deal to become the US partner to Chinese-owned video app TikTok to avert a ban in the United States, President Donald Trump said on September 15. (Photo by GREG BAKER/AFP via Getty Images)

UAE’s G42 buys $100 million share in China's ByteDance, parent of TikTok

ByteDance, the parent company of TikTok, has seen its value fluctuate, predominantly due to investor uncertainty caused by a possible ban on TikTok in the United States.

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on March 15, 2023, in New York City.

Saudi National Bank will not increase stake in Credit Suisse after shares drop

Credit Suisse’s financial struggles follow the collapse of Silicon Valley Bank and could likewise have ramifications for the Middle East.

Amphetamine

Saudi Arabia seizes 4.6 million amphetamine pills in bathroom shipment

A Jordanian national was apprehended in Jeddah while receiving the amphetamine shipment hidden in ceramic toilets, sinks and washbasins.

Chinese foreign affairs Minister Wang Yi speaks during the 2023 Munich Security Conference (MSC) on February 18, 2023 in Munich, Germany.

Meet China's top diplomat Wang Yi, architect of Saudi-Iran deal

Wang’s tenure as foreign minister saw China make large inroads into the Middle East, including among US allies.