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.

UAE Masdar

UAE’s Masdar to work on solar and wind power projects in Tanzania

The UAE is diversifying its economy and seeking closer relations with several sub-Saharan African states.

A People's Liberation Army air force WZ-7 high-altitude reconnaissance drone is seen a day before the 13th China International Aviation and Aerospace Exhibition in Zhuhai, Guangdong province, China, Sept. 27, 2021.

Drones used by Iran-backed militias are coming from China, US says

Senior US official accuses Beijing of playing both sides in the Middle East’s race for drone technology.

Chinese traditional dance teams perform during the inauguration ceremony of the Yanbu Aramco Sinopec Refining Company.

Saudi Arabia-China relations strengthen with Aramco-Sinopec deal

The ties between China and Saudi Arabia are largely based on trade and energy cooperation.

Yemen

Analysis

The Takeaway: Yemen’s truce renewed but permanent peace elusive

Strains in Israel-Russia ties; psychological toll of Israeli warplanes over Lebanon; Gulf expands ESG investment; Tunisia’s water shortage and Erdogan's diplomatic star turn on Black Sea grain initiative.

Elizabeth Hagedorn

Andrew Parasiliti

By Elizabeth Hagedorn , Andrew Parasiliti

Saudi Energy Minister Abdulaziz bin Salman bin Abdulaziz Al Saud addresses the 29th annual Middle East Petroleum and Gas Conference.

OPEC+ agrees to small oil production increase

US President Joe Biden may have been hoping for a larger boost in production.

In this photograph taken on July 31, 2022, smoke rises from a house following a US drone strike in the Sherpur area of Kabul.

Middle East reactions: Al-Qaeda leader Zawahiri killed in US drone strike

Saudi Arabia and Israel praised the operation which killed the Al-Qaeda leader; a Syrian jihadist group appeared to offer condolences.

Central bank

UAE laws clamp down on money laundering, terrorism financing

The Emirates recently sanctioned some financial institutions in the country.

United Arab Emirates

Austrian policemen guard the entrance of the Organization of the Petroleum Exporting Countries (OPEC) headquarters during the 176th meeting of the OPEC conference and the 6th meeting of the OPEC and non-OPEC countries on July 1, 2019 in Vienna, Austria. (Photo by JOE KLAMAR / AFP) (Photo by JOE KLAMAR/AFP via Getty Images)

Latest PRO Memo: OPEC+ faces critical decision on next moves

In a new PRO memo, Karen Young dissects the difficult decision ahead for OPEC+ regarding their 2016 production agreement.

FAYEZ NURELDINE/AFP via Getty Images

ESG investments gain momentum in Middle East

Many Middle Eastern investors consider sustainable assets attractive from an ethical perspective, though some ambiguity clouds their economic benefits.

Saudi Aramco acquires lubricant giant Valvoline

Aramco has been investing in futuristic technology amid high oil prices and profits.

stock exchange

Foreign investment grows in Abu Dhabi stock exchange

The UAE has invested in several regional states this year.

United Arab Emirates

Austrian policemen guard the entrance of the Organization of the Petroleum Exporting Countries (OPEC) headquarters during the 176th meeting of the OPEC conference and the 6th meeting of the OPEC and non-OPEC countries on July 1, 2019 in Vienna, Austria. (Photo by JOE KLAMAR / AFP) (Photo by JOE KLAMAR/AFP via Getty Images)

OPEC+ faces critical decision on next moves

In Washington, DC, reporting on regional energy