Egypt’s bid to localize electronics manufacturing starts to pay off

This nascent industry is beginning to pick up steam on the back of the government’s eager plans to localize it.

Marc Español

China signs major LNG deal with Qatar as Beijing’s Gulf push continues

QatarEnergy inked a 27-year agreement with the China National Petroleum Corporation (CNPC) to provide 4 million tons of LNG per year.

Qatar

Carlos Ghosn files $1 billion lawsuit in Lebanon against Nissan

The lawsuit reportedly accuses the Japanese carmaker and two other companies as well as a dozen individuals of crimes including defamation, slander, libel and fabricating material evidence.

Lebanon

Israel to build land fiber-optic cable between Mediterranean, Red seas

Israel's Finance Ministry reached an agreement with an Israel state-owned energy company to construct a multi-optic-fiber between Ashkelon and Eilat, with the goal of turning the country into an international communication corridor.

Israel

Analysis

Algeria’s Tebboune uses reliable partner status to secure Russian arms

Russia's invasion of Ukraine put Algeria in an awkward place, as it plans to walk the diplomatic tightrope with Russia and the West.

By Jack Dutton

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

Analysis

Saudi-Iran detente offers dubious economic benefits, say analysts

Saudi Investment Minister Khalid al-Fatih spoke brightly this week about the economic potential of the China-brokered agreement, but experts who spoke to Al-Monitor are more skeptical.

By Jack Dutton

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

Oil leaves invisible footprint on Gulf's non-oil economies

Touted progress in diversifying Gulf economies beyond the fossil fuel rent comes with a caveat. Oil and gas revenues indirectly propel large chunks of the non-oil economy through public expenditures such as wages, subsidies and infrastructure spending.

Legacy: Gulf

Economic arsenals: the Middle East’s rise as a global defense industry hub

The Mideast's defense market is evolving, motivated by a desire to secure greater self-sufficiency and national sovereignty.

Dubai free zone reports 24% increase in Chinese companies

The Dubai Multi Commodities Center has more than 770 Chinese companies in its free trade zone.

United Arab Emirates

US Justice Department investigating Saudi LIV Golf-PGA Tour merger: reports

The revelation follows action taken by some members of Congress in response to the Saudi sovereign wealth fund-backed golf league’s deal with the US-based PGA Tour.

Legacy: Gulf

Analysis

Saudi Arabia's carbon credit exchange: climate action or greenwashing?

Sixteen firms, including Aramco, Saudi Airlines, Saudi Electricity Company and NEOM subsidiary ENOWA, bought more than 2.2 million tons of carbon credits in Nairobi on Wednesday.

By Salim A. Essaid

Egypt remittances plunge amid economic uncertainty

Money transfers through official channels by Egyptians working abroad plummeted by 23% during the second half of 2022, reaching the lowest level since the 2016 crisis.

Egypt