Qatar locks in US LNG through 2054 as it looks beyond Hormuz The Gulf state agreed to buy up to 4 million tons of US liquefied natural gas annually through 2054. Qatar
China-Saudi consortium wins $306M World Cup stadium deal: What to know The project is a vote of confidence to Saudi Arabia's ambitious Vision 2030 agenda to diversify the economy away from oil, despite an uptick in attacks by Yemen's Houthi rebels on the kingdom in recent weeks. Saudi Arabia
Newsletter: Business & Tech Saudi economic ambitions under strain Saudi Arabia postponed its flagship investment conference, known as “Davos in the Desert,” on Monday as Yemen’s Iran-backed Houthi rebels continued attacks on the kingdom. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Gulf oil exports surpass prewar levels despite escalating tanker attacks According to data from Kpler, oil shipments through the Strait of Hormuz and alternative routes across the Middle East averaged more than 24 million barrels a day last week, surpassing prewar levels of 23.3 million. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege? By Samuel Wendel In Washington, DC, reporting on regional business and tech
In shock move, Turkey cuts interest rates again Inflation is historically high in Turkey, but President Erdogan continues to defy economic wisdom as the country's central bank slashed policy rates further. Turkey
Palestinian businessman seeks self-funded projects to support Gaza economy An agreement of $1 million was signed to restore industrial facilities that were destroyed in the May 2021 war on Gaza, which came as a glimmer of hope for the stricken industrial city. Palestine
Gulf banks raise interest rates, following US Federal Reserve Gulf states often follow the American central bank in their interest rate decisions. Legacy: Gulf
Saudi esports success depends on local businesses, say industry players After Saudi Arabia released its esports strategy last week, members of the region’s local gaming industry say community players, developers and startups are key to actualizing the plan’s ambitious goals. Legacy: Gulf
Egyptian coal factory shuts down in lead-up to COP27 El-Nasr Company for Coke and Chemicals was liquidated recently, less than a year after another industry and steel company was closed down, as the Egyptian government seeks to abandon coal in its factories and rely more on clean energy. Egypt
NEOM’s ambitious concept-to-project transition presents funding, feasibility challenges Robert Mogielnicki
Egypt invests Suez Canal revenues in three yacht ports President Abdel Fattah al-Sisi announced that three yacht ports will be established from the revenues of the Suez Canal, in a bid to stimulate tourism to support the national economy. Egypt
Lebanese fear more hardships after fuel subsidies are lifted The Lebanese are expecting higher gasoline prices in light of the central bank’s decision to lift subsidies amid market chaos, dollar exchange fluctuations and devaluation of salaries in the Lebanese pound. Lebanon
Food crisis looms over Tunisia As food grows scarcer in Tunisia, more residents are growing upset at the government's inaction. North Africa
GCC capital investment linked to global market volatility Karen Young In Washington, DC, reporting on regional energy
France’s TotalEnergies sells stake in Iraqi Kurdish oil field The sale follows the Iraqi federal government pressuring international firms to pull out of the autonomous region, which has led to concern from the US State Department. Iraq
Erdogan looks to Putin to ease foreign currency woes An extraordinary uptick in capital flows of unknown origin to Turkey has left many wondering whether Russian money could be involved. Turkey