Analysis Gulf energy deals face Iran war stress test as global expansion meets oil shock ADNOC, Aramco and QatarEnergy have aggressively expanded their international portfolios in recent years, a strategy facing new constraints as the US-Israel-Iran war impacts Gulf production and exposes structural risks. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Syria’s Sharaa makes fourth visit to Saudi Arabia, first since Iran war: What to know The visit comes in light of the deepening economic relations between Syria and Saudi Arabia post-Assad. Syria
MBS hosts Sudan's Burhan in Jeddah as $1.5B Saudi-backed arms deal stalls Sudan’s army chief Abdel Fattah al-Burhan traveled to Jeddah Monday for a visit that could be aimed at salvaging a $1.5 billion Pakistani arms deal Riyadh has reportedly blocked. Sudan
UAE's deputy PM holds first call with Ghalibaf amid push to extend US-Iran ceasefire The Emirati vice president and Iran’s parliament speaker talked de-escalation on the phone in the first such contact since the Iran war began. United Arab Emirates
Saudi Arabia's oil cuts weigh heavy on economy, GDP tanks by 4.5% The kingdom's economy shrunk by the most since the COVID-19 pandemic in 2020 due to energy measures. Saudi Arabia
Italy's FM in Saudi Arabia to talk energy partnerships, investments as ties grow The far-right government of Italian Prime Minister Giorgia Meloni has worked to strengthen ties with Saudi Arabia and the United Arab Emirates. Saudi Arabia
Saudi Arabia projects $21 billion deficit as economy diversifies from oil The kingdom was among the world’s fastest-growing economies last year with almost 9% GDP growth after a petrodollar boom amid a global rise in energy prices due to inflation and the Ukraine war. Saudi Arabia
Pakistan, Gulf Cooperation Council sign 'preliminary' free trade agreement When the final trade deal comes into effect, it will likely be the GCC's first since 2009. Legacy: Gulf
Blinken defends Iran prisoner swap at meeting with Gulf counterparts The US secretary of state also touted the India-Middle East-Europe Economic Corridor, seen as competition to China’s Belt and Road Initiative, ahead of the discussion with Gulf Cooperation Council member states. Legacy: Gulf
UAE trade offensive continues, this time with New Zealand deal The UAE is looking to secure its sixth trade agreement of the year as it increases its non-oil trade globally, with intentions to reach $1.09 billion by 2031. United Arab Emirates
Analysis With Ukraine summit, Saudi Arabia boasts mediator role, courts West One expert believes that the talks will also take Western pressure off the kingdom for its close alignment with Russia. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Gulf investment in UK property expected to reach $3.2 B in 2024 Middle Eastern investors are capitalising on lower property valuations and those investors are likely to refinance when interest rates start falling, the Islamic bank said. Legacy: Gulf
UK investment minister: GCC trade deal would develop AI, fintech sectors In 2022, trade between the UK and GCC countries amounted to 33.1 billion pounds ($42.6 million). Legacy: Gulf
Who is Sultan Al Mansouri, Qatar’s first UAE ambassador in 6 years? A career diplomat who previously served as Qatar’s ambassador to Austria in 2019 and as the ambassador to China in 2014, Mansouri brings a negotiating and economic skillset to the position. Qatar
Saudi Public Investment Fund reports $11 billion loss for 2022 Saudi Arabia's sovereign wealth fund reports its assets have risen from $676 billion to about $778 billion in 2022 in a rare gesture of transparency for the Gulf. Saudi Arabia
In Moscow, Russia's Lavrov welcomes Gulf states' rapprochement with Iran Russia’s Foreign Minister Sergey Lavrov said that Russia and GCC countries will expand their cooperation together in areas of economic trade, defense, security, energy and politics. Legacy: Gulf
