Analysis Egyptians in for another expensive Ramadan despite recovering economy Egyptians tend to spend more during the Islamic holy month relative to the rest of the year, but high inflation and low wages have reduced their purchasing power. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Meet Fahad Al-Saif, PIF exec and Saudi Arabia's new investment minister Saif previously led investment strategy at the kingdom's sovereign wealth fund and has held senior roles at the Saudi Awwal Bank and HSBC Saudi Arabia. Saudi Arabia
Saudi Arabia names new investment minister as Vision 2030 funding lags The leadership change comes as slowing megaprojects and weak foreign inflows expose gaps in the kingdom’s ambitious economic overhaul. Saudi Arabia
Abu Dhabi merges ADQ into new wealth fund L'IMAD: What to know Under the new structure, Sheikh Khaled bin Mohammed, the crown prince of Abu Dhabi, will oversee a broader swath of the emirate’s investment holdings. United Arab Emirates
Middle East markets rally after Donald Trump's election victory Saudi Arabia’s benchmark index, the TASI, gained 0.9%, while Dubai's main share index gained 0.5%. The Abu Dhabi Securities Exchange, a key player in the region’s stock markets, gained 0.4%. United States
Saudi Aramco in 'advanced' talks on hydrogen offtake as Q3 income drops 15.3% Aramco's Q3 net income fell 15.3% to $27.6 billion on low oil prices. Aramco is looking to expand into new business areas such as renewables and hydrogen. Saudi Arabia
China to issue up to $2B in bonds in Saudi Arabia as business ties deepen The two countries have been deepening economic and trade ties to help each other meet strategic initiatives such as China’s Belt and Road Initiative with Saudi Arabia’s Vision 2030 plan. Saudi Arabia
Saudi Arabia's PIF signs $51B in MoUs with Japanese banks amid Asia push The signings come amid the Future Investment Initiative this week in Riyadh, which attracted hundreds of international companies and investors to the kingdom. Saudi Arabia
Saudi Arabia's NEOM attracts $16B in private financing over 2 years Saudi Arabia's flagship sustainability project has attracted substantial private investments and is looking for more. Saudi Arabia
Analysis What to make of Iran's 200% defense budget increase amid Israel tensions The planned increase comes despite a widening deficit and record inflation rates, and after reports suggesting severe damage to Iran's air defense installations and missile production centers in the recent Israeli strike. By A correspondent in Tehran In Tehran, reporting on politics
In first, Saudi Arabia to begin trading China-focused ETF: What we know The ETF, which will begin trading on the Saudi Stock Exchange, has raised more than $1.2 billion. China
Saudi's PIF downsizes foreign investment, turns to AI, domestic priorities Saudi Arabia's sovereign wealth fund is looking to invest in tourism, real estate and sustainability as its Vision 2030 deadline draws closer. Saudi Arabia
Saudi Arabia pushes for Africa debt relief as private investments set to reach $25B Saudi Arabia is pushing for debt relief for African nations burdened with more than $1 trillion in liabilities. Saudi Arabia
What to expect at Saudi Arabia's eighth Davos in the Desert This year's Future Investment Initiative focuses on tech, energy and investment as Saudi Arabia steps up efforts to diversify its economy away from hydrocarbons. Saudi Arabia
What to make of Saudi Arabia's $96B in foreign direct investment in 2023 Driving foreign investment into key sectors is part of Saudi Arabia's efforts to diversify away from an oil-dependent revenue model. Saudi Arabia
Starbucks sales see 7% drop, largest since pandemic, amid Gaza boycotts The company has been grappling with protests and boycott campaigns on social media due to the Israel-Gaza war and the union fight in the United States. Palestine
