Gulf investment to turn inward to rebuild postwar infrastructure: QNB Charles-Emmanuel de Beauregard, Qatar National Bank’s head of corporate and institutional banking, said that the Gulf countries will need to rebuild their logistics capabilities after the closure of the Strait of Hormuz. Qatar
Saudi Aramco's VC arm sees boom in emerging technologies, retail Anas Alqahtani, CEO of Wa'ed Ventures, expects strong growth in Saudi Arabia’s emerging technology and retail sectors over the coming years. Saudi Arabia
Analysis As Trump admin drops Halkbank case, S-400 last big hurdle in US-Turkey ties The move eases a key source of friction with Turkey ahead of a NATO summit in Ankara. By Amberin Zaman Reporting on geopolitics, minorities, human rights, culture
Bessent says Iran's frozen assets will pay for Gulf damage, Hormuz tolls US Treasury Secretary Scott Bessent said that any damage Iran inflicts on Gulf allies will be paid for with funds extracted from Iranian accounts. Iran
Who is Bill Pulte, Trump loyalist tapped as intelligence director? By Jared Szuba In Washington, DC, reporting on defense, national security, military
Analysis Ports and infrastructure: UAE embraces new economic order in Syria By Samuel Wendel In Washington, DC, reporting on regional business and tech
Iran advances de-dollarization among BRICS members to counter US dominance As a new addition to the BRICS group of nations, Iran has been promoting an ambitious campaign within the alliance to counter US influence over global markets and alleviate the impacts of American sanctions on its own economy. Iran
Can Egypt's new cabinet overcome public skepticism, economic discontent? The new cabinet in Egypt is expected to address the country’s economic woes, although some analysts doubt its ability to do so. Egypt
Middle East startups see funding fall by 34% in first half of 2024 Although startup funding levels have plateaued globally, MENA reported an increase in early-stage rounds and investor participation. United Arab Emirates
Egypt’s remittances reach $2.7 billion in boost to foreign reserves Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues. Egypt
What’s behind Saudi Public Investment Fund’s $17.2B profit? The sovereign wealth fund’s turnaround following the loss in 2022 is due in large part to the stock market rebounding. Saudi Arabia
Barclays plays down Israel military links as protesters target branches More than 15 branches of the bank across England and Scotland were found with windows smashed and red paint daubed over the buildings as part of a protest calling on the bank to divest from arms companies that sell to Israel as well as from fossil fuel businesses. Palestine
Saudi Arabia joins China, UAE in digital currency project The kingdom is joining the Switzerland-based Bank for International Settlements' central bank digital currency platform. Saudi Arabia
Qatar National Bank says GCC banks have more liquidity than global rivals An executive at the Qatari lender said that Gulf countries will have to compete with the rest of the world for billions of dollars in equity to finance infrastructure projects, of which there is a higher demand than supply. Saudi Arabia
Poverty in Lebanon tripled to 44%, as high as 62% in rural areas: World Bank In a recent report, the World Bank revealed a three-fold increase in poverty rates in Lebanon, which is hard hit by an economic crisis and financial meltdown, with nine out of every 10 Syrians displaced in the country living under the poverty line. Lebanon
Dubai beats Singapore, London as top city for 'greenfield' FDI projects FDI Markets data, compiled by the Financial Times, found the UAE's financial capital ranked top overall in global "greenfield" FDI projects attracted in 2023. United Arab Emirates
Bahrain's Investcorp, China's CIC launch $1B Sino-Gulf investment platform The companies the fund will target are expected to have high growth potential in attractive sectors, including consumer, health care, logistics and business services, the Bahrain-based alternative asset manager said. Bahrain
US unveils sanctions on Hamas spokesperson Abu Ubaida The US Treasury Department also targeted Hamas members linked to the group’s cyber and drone operations in Lebanon and Gaza. Israel
