What role is Jordan playing in Syria's reconstruction? As Syria’s southern neighbor, Jordan is already positioning itself as a logistics hub and diplomatic broker for Syria’s reconstruction. Syria
Saudi PIF eyes $27B Japan portfolio as kingdom courts Asian investment Saudi Arabia is strengthening economic ties with Asian countries as it pursues its economic transformation goals. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Saudi Arabia opens Nomu Parallel Market to new investors: What to know Easing investing rules and deepening capital markets to diversify the Saudi economy are key to fulfilling Vision 2030. Saudi Arabia
UAE showcases global AI ambitions with $1B Africa pledge at G20 The Gulf country is the world's top investor in Africa, with Emirati companies committing $100 billion to projects on the continent between 2019 and 2023, according to data from the Financial Times. United Arab Emirates
Gaza war could double oil prices, threaten global food security Washington-based multilateral lender World Bank compared the situation to the 1973 Arab oil embargo in its latest Commodities Market Outlook. Israel
Israel credit outlook lowered, budget to be amended amid Hamas war Israel’s credit rating was in trouble before the war in Gaza due to the government’s controversial judicial reform plans, and the war is affecting the country's fiscal situation. Israel
20% rise in Middle East late-stage venture capital funding despite global decline Startups in the Middle East and North Africa have so far in 2023 reported a 20% year-on-year growth, new data shows, while global funding activity of this type has seen a 49% decline from 2022. Legacy: Gulf
Analysis China's venture capital firms making inroads in Saudi Arabia, UAE Chinese venture capital investors have been pricing deals at more competitive rates and taking advantage of a widening vacuum left by Western rivals in the region. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Saudi Aramco makes first global LNG investment with US MidOcean stake MidOcean Energy is in the midst of buying interests in four LNG projects in Australia as part of its growth strategy. Saudi Arabia
Analysis Saudi Arabia fastest growing crypto economy globally amid regional drive The kingdom led globally with a 12% increase in crypto transaction volume reaching nearly $31 billion from July 2022 through June 2023, according to an industry report released Tuesday. By Salim A. Essaid
Oman's oil and gas sector drives 30% GDP growth in 2022 Oman’s hydrocarbon sector growth rate was 61.6% from 2021 to 2022, compared to non-hydrocarbon sector growth at 16.9% during the same period, according to the Central Bank of Oman (CBO) 2022 Annual Report. Oman
China development financier AIIB opens first global office in UAE Bank officials expect that the new Abu Dhabi location will help extend their reach to finance sustainable development projects. United Arab Emirates
UAE revenue jumps 31.8% in 2022 The UAE Ministry of Finance reported a 6.1% increase in expenditure last year compared to 2021, which amounted to around $116.3 billion. United Arab Emirates
Turkey’s central bank mulls giant interest rate hike up to 10% to fight inflation Alarmed by resurging price increases, central bank officials reportedly believe that a rate hike of up to 10 percentage points is an inevitable part of monetary tightening to tackle inflation. Turkey
Saudi Arabia’s Vision 2030 will benefit Islamic finance sector, says Moody’s The kingdom has the largest Islamic banking market in the world, and roughly 83% of its total assets are Sharia-compliant. Saudi Arabia
World Bank official says Turkey's economic U-turn 'step in right direction’ The comments from the institution’s Turkey director follow the Turkish government finally raising interest rates to battle inflation. But the Turkish economy is still struggling. Turkey
