Kuwait's new sovereign wealth fund Ciyada to boost foreign investment

The Gulf country already has the Kuwait Investment Authority with assets of about $803 billion, making it the fifth-largest sovereign wealth fund globally.

Legacy: Gulf

EU, Tunisia ink 'strategic partnership' to help economy, stem migrants

It comes after weeks of talks between the two parties about the EU providing around 1 billion euros in aid, which would be dependent on Tunisia's IMF bailout.

Tunisia

Analysis

China eyes Algerian oil and gas as it receives Tebboune in Beijing

Algeria's president will want to use next week's visit to China to make a pitch for his country to join the five-nation alliance of emerging economies seen as an alternative to Western hegemony.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

Analysis

As Turkey grapples with deficit, Erdogan pins his hopes on Gulf funds during visit

Ankara is hoping for an inflow of Gulf dollars as the battered lira remains under pressure amid a gaping budget deficit and reluctance to take firmer measures to tame inflation.

By Mustafa Sonmez

In Istanbul, reporting on economics

Saudi Arabia outranks US for expat life, Kuwait ranks worst

Saudi Arabia was found to be the 28th best country to live in as an expatriate while the United States ranked 30th, according to a Tuesday report.

Saudi Arabia

Algeria ready to deliver e-commerce growth

Algeria is forecasted to be the fastest growing e-commerce market in the Middle East and North Africa in the coming years.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

UAE suspends Emirates Gold over money laundering allegations 

The London Bullion Market Association, which regulates the United Kingdom capital’s metals market, suspended Emirates Gold DMCC’s affiliate membership after conducting a review.

United Arab Emirates

Iran’s Raisi seals 21 deals on Africa trip, attends drone exhibit in Kenya

Iran is seeking stronger ties to sub-Saharan Africa but faces competition from the Gulf and China.

Iran

Turkey's Erdogan anticipates 'serious investments' from Gulf ahead of visit

Ahead of Turkish President Recep Tayyip Erdogan’s Gulf tour which will include Saudi Arabia, the UAE and Qatar, Ankara is working to maximize economic cooperation with regional states in a bid to ease its foreign currency crunch.

Turkey

Saudi Arabia imports record volumes of discounted Russian fuel oil in June

Europe used to be the top market for Russian oil and petroleum products but all that has changed since Russia's invasion of Ukraine.

Saudi Arabia

Analysis

Qatar leans east to achieve 40% global LNG output by 2029

Qatar took steps last year to maintain its lead in the LNG market and increase future output with the approval of expansion projects set to raise production by 64% to 126 million tons per year by 2027.

By Salim A. Essaid

France’s Alstom to build second rail plant in Morocco

The company has previously made tramway vehicles in Rabat and Casablanca as well as high speed trains that operate between Casablanca and Tangier.

Morocco