Qatar PM arrives in Venezuela on first trip since Maduro’s ouster: What to know Qatar is moving to shore up ties with Venezuela as the US seeks greater control over the South American country’s oil revenues. Qatar
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
Exclusive Direct Turkey-Armenia land trade to begin amid US-led Caucasus peace push New transit arrangement via Georgia cuts re-export costs, marking accelerating normalization between Ankara and Yerevan amid broader US-led peace efforts. By Ezgi Akin In Ankara, reporting on diplomacy, EU-Turkey ties, NATO
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
Analysis Why Algeria's nixing of UAE air deal is more diplomatic than economic By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Saudi Arabia invests $51 billion in first wave of Shareek diversification The Shareek investment and diversification strategy is set to create more than 64,000 jobs by 2040. Saudi Arabia
UAE's Dubai ranks fourth in luxury residential sales in 2022 Luxury home sales that exceeded $10 million each in Dubai amounted to 219 in 2022, only ranking behind New York (244), Los Angeles (225) and London (223). Legacy: Gulf
Turkey's economy grows 5.6% in 2022, but labor’s income share shrinks In a sign of deepening income disparities, the share of Turkey’s labor force from the national income has dropped to 26.5%, a far cry from 36% in 2016. Turkey
UAE busts 4.5 million Captagon pills in food cans after smuggler arrest Amphetamine fenethylline, known by its brand name Captagon, has increasingly become the drug of choice among youth in Gulf Arab states. United Arab Emirates
Analysis Israel raises interest rates in eighth consecutive hike in 10 months Fighting rising inflation, Bank of Israel Gov. Amir Yaron took the unpopular decision of increasing the interest rates to 4.25%. By Danny Zaken In Ma'ale HaHamisha, reporting on Israel
Lebanon’s army suffers with currency collapse as desertions mount The drastic devaluation of wages threatens soldiers’ performance in the tumultuous period Lebanon is going through. Lebanon
New rail network on track to bring billions into UAE economy The railway will serve the UAE’s sustainability goals by reducing carbon emissions in the road transportation sector. Legacy: Gulf
UAE's IDEX weapons fair brings in Russia, China, and billion-dollar deals The United Arab Emirates’ defense expenditure amounted to $22.5 billion last year and is expected to reach $28.6 billion by 2027. Legacy: Gulf
Iran's currency dips to all-time low, basic prices skyrocket Recently launched government plans to restore stability to the troubled foreign exchange market proved no remedy, as ordinary Iranians continue to see their pockets shrink. Iran
Oman opens airspace to Israeli flights, following Saudi Arabia Israel’s Foreign Minister Eli Cohen has thanked the Sultan of Oman and the Biden administration for an airspace agreement that will shorten Israeli flight times to Asia considerably. Israel
US, India, UAE, Israel convene I2U2 forum in Abu Dhabi The meeting builds on the food security initiative spearheaded by President Joe Biden in 2021 in preparation for global climate change. Legacy: Gulf
COP-28 head Sultan Al Jaber: UAE ‘running toward’ energy transition As the climate summit president continues to face criticism for his role as head of the UAE's state oil producer, Sultan Al Jaber argued that his position will serve more as an asset than an obstacle to energy transition. Legacy: Gulf
