Analysis Iran war tests Gulf's theme park ambitions Saudi Arabia is pressing ahead with multibillion-dollar projects as the conflict disrupts regional tourism and exposes weaknesses in the Gulf states' entertainment strategies. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis Could Trump’s oil push in Venezuela upend OPEC’s energy order? Washington’s growing role in controlling the Latin American country's crude riches could help reshape an energy order centered on OPEC as the Hormuz crisis pressures Gulf exports. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Saudi Arabia taps China’s MiniMax for Arabic AI model The development signals that the kingdom continues deepening AI ties with China while simultaneously pursuing major US technology partnerships, keeping the Gulf state at the center of an intensifying technology race between the superpowers. Saudi Arabia
Newsletter: Business & Tech Oil rises amid renewed US-Iran fighting Iran launched a wave of attacks on US sites across the Middle East on Wednesday after an extensive American bombardment. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Newsletter: FutureVerse LEAP’s comeback By Samuel Wendel In Washington, DC, reporting on regional business and tech
Saudi Arabia, UAE lead Forbes’ 2023 Arab family business ranking Although Saudi Arabia and the UAE dominated the list, with 33 and 29 of the top 100 spots respectively, Egypt’s Mansour Group sat in first place, with the UAE’s Al-Futtaim Group in second and Saudi Arabia’s only female-led company, Olayan Financing Company, at third. Saudi Arabia
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
Saudi Arabia borrowing rate hits new high, posing risk to foreign investments The Saudi Arabian Interbank Offered Rate climbed above an average of 6% in July, which was higher than the rate during the 2008 global financial crisis. Saudi Arabia
Israeli solar firm enters rare venture with Saudi business Such partnerships are seldom seen, as Israel and Saudi Arabia do not recognise each other formally and the two countries have never established diplomatic relations. Israel
Israel’s north-south rail project will link to Saudi Arabia, Netanyahu says Prime Minister Benjamin Netanyahu is optimistic about the possibility of connecting Israel to the Saudi and wider Gulf rail network. Israel
Analysis Iran should be catalyst for Israel-Saudi normalization Saudi-Israeli diplomatic relations could also give a financial and political boost to the moribund two-state solution. By Week in Review , Andrew Parasiliti
In a first, Saudi Arabia seals deal with Brazil’s largest miner VBM The Vale partnership will give Riyadh access to assets in Canada, Brazil and Indonesia. Saudi Arabia
Top White House officials meet MBS to talk Saudi-Israel normalization National Security Adviser Jake Sullivan met with Crown Prince Mohammed bin Salman in Riyadh as the White House seeks to further integrate Israel into the Middle East. Saudi Arabia
Kylian Mbappe declines Saudi meeting to discuss record $333 million transfer A report from L'Equipe newspaper said that the French captain never considered a move to Saudi Arabia. Saudi Arabia
China, UAE overtake US companies at Turkey’s IDEF 23 weapons fair During the 15th edition of the IDEF in 2021, the global fair saw more than a thousand companies from 53 countries attend and had more than 94 signing ceremonies take place. Turkey
IMF dims 2023 Middle East outlook as Saudi Arabia's growth slows The International Monetary Fund's projections for the Middle East and North Africa are down slightly in its latest report. Legacy: Gulf
Saudi oil exports hit new low, dropping by more than one-third In May of this year, Saudi Arabia’s value of oil exports hit a low of just over $19 billion, reported the kingdom’s General Authority for Statistics. This includes both crude and refined products. Saudi Arabia