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.

Delegations attend the 46th ordinary session of the Council of Arab Central Banks and Monetary Authorities Governors, Jeddah, Saudi Arabia, Sept. 18, 2022.

Gulf banks raise interest rates in response to the Fed, Kuwait stays put

Saudi Arabia could be in store for a liquidity crunch, according to a leading credit rating agency. Kuwait has a history of not following the trend on interest rates.

Egypt trade

Egypt reports increased trade with Arab states

Saudi Arabia is Egypt's top trading partner in the region.

Tawazon founder Suna Zaobi from Palestine networks with others attending the 4th edition of the International Conference on Entrepreneurship in Palestine (ICEP), held in Dubai for the first time, on November 1, 2022.

‘Stars aligned’ for Palestinian startups, Gulf investors say

Entrepreneurs from the West Bank and Gaza recently visited Dubai to attend a conference on funding for new businesses.

Saudi Miniser of Energy Prince Abdulaziz bin Salman Al Saud addresses delegates during the 2021 climate summit, Glasgow, Ireland, Nov. 10, 2021.

Saudi Arabia offers green bonds in push toward net zero

While the move signals that the kingdom understands the global trends toward "green," its impact on climate action will require further steps.

Iran strike

US military in touch with Saudi Arabia over threat from Iran

Pentagon officials would not corroborate a Saudi report of a potential imminent attack from Iran on Saudi Arabia and Iraq.

Participants attend the Abu Dhabi International Petroleum Exhibition and Conference, Abu Dhabi, Emirates, Nov. 11, 2019.

US, UAE sign clean energy partnership

The agreement unlocks $100 billion in financing.

Aramco exhibition section at the Misk Global Forum on innovation and technology held in the Saudi capital, Riyadh, on Nov. 13, 2019.

Saudi Aramco continues to reap big profits

The Saudi oil giant has been investing in futuristic technology as it benefits from high oil prices.

Senator calls for investigation into Saudi Twitter ownership

Saudi Prince Alwaleed is the second-largest stakeholder in Elon Musk's Twitter, which has earned him criticism from Sen. Murphy. But the prince’s investment in the company is not new.

Panelists including Jordan’s Finance Minister, Emirates NBD’s Chief Economist, and the International Monetary Fund (IMF) Middle East and Central Asia Department Director, discuss the IMF’s newly released Middle East and North Africa outlook report on October 31, 2022.

Middle East countries must do more to recover, say IMF event panelists

While oil producing countries are projected to benefit from a windfall due to high energy prices, for others the coming years "will be more challenging than ever."

(From L to R) Moderator Joha Simpson, BBC world affairs editor broadcaster, author and columnist, UAE Energy Minister Suhail Al Mazrouei, Omani Oil and Gas Minister Mohamed Al Rumhi and Bahrain's Oil and Gas Affairs Minister Mohammed Bin Khalifa Al Khalifa sit on a panel during the Abu Dhabi International Petroleum Exhibition and Conference), Abu Dhabi, Emirates, Nov. 7, 2016.

UAE warns against underinvestment in oil, gas at Abu Dhabi conference

The Abu Dhabi International Petroleum Exhibition and Conference also features more focus on decarbonization and hydrogen.

Sponge city in China, July 18, 2018.

Culture

Sponge cities could be solution for UAE amid extreme weather events

Experts believe that sponge cities could help countries in the Arab Gulf region cope with extreme weather events caused by climate change, including heavy rainfalls and the ensuing floods.

Twitter

Saudi prince to retain stake in Twitter after Musk takeover

Prince Alwaleed previously criticized Elon Musk’s plan to buy the social media giant, but later changed his tune.