Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption. Bahrain
Saudi Arabia postpones 'Davos in the Desert' until 2027 amid Houthi attacks The Future Investment Initiative, which typically attracts the CEOs of some of the biggest companies in business, finance, and technology to Riyadh, will now be held next year. Saudi Arabia
Analysis How Hormuz crisis is reshaping economic ties between Iraq and Syria Iraq and Syria are expanding trade and energy cooperation, but security risks, economic challenges and longstanding mistrust raise questions about whether their growing partnership can endure. By Shelly Kittleson In Baghdad, reporting on Iraqi politics
Syria to rejoin Arab group at IMF, leaving Russian-led constituency Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD. Syria
Egypt's economy hit with downgrades as Sisi seeks third term Egypt continues to reel from high inflation, a weak exchange rate and more. Rare protests occurred in the country following President Abdel Fattah al-Sisi’s reelection bid announcement. Egypt
UK, Turkey in talks about third railway project The project follows the UK government underwriting financing in July to support the construction of a 286-kilometer high-speed electric railway in southern Turkey. Turkey
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
After Nagorno-Karabakh offensive, can Turkey play nice with Armenia? Following Azerbaijani victory in Nagorno-Karabakh, Turkey is now laying the foundations for a rapprochement with Yerevan. Turkey
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
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
Russia becomes UAE’s top gold supplier as Ukraine sanctions bite The United Arab Emirates bought 96.4 tons of gold from Russia in 2022, making it Moscow's top gold importer. United Arab Emirates
UAE eyes Serbia trade deal as CEPA blitz continues Non-oil trade between the two countries reached $57.6 million in the first half of 2023, surpassing their entire non-oil trade value for the year 2020. United Arab Emirates
China’s Alibaba to invest $2 billion in Turkey The news follows economic changes in Turkey as well as improving ties between Turkey and China. Turkey
Dubai ranks first in luxury home sales in second quarter: report Dubai was one of only four markets to see growth in its overall sales volume of luxury homes between Q2 2022 and Q2 2023 at 79%, along with Sydney (46%), Paris (17%) and Geneva (7%). United Arab Emirates
Dubai's $1 billion Captagon bust ranks as one of world’s biggest Sales of the highly addictive stimulant continue to fund the Syrian government, despite regional efforts to break up smuggling rings. United Arab Emirates
