UAE, Qatar investments fuel Jared Kushner's firm assets to $4.8 billion

Commitments from Abu Dhabi–based asset manager Lunate and the Qatar Investment Authority, the sovereign wealth fund, increased Affinity’s assets by $1.5 billion over a year.

United Arab Emirates

Gulf markets dip after Trump announces 25% automotive tariffs

Donald Trump announced on Wednesday 25% tariffs on imported cars and light trucks entering the United States, set to take effect on April 2, further fueling the ongoing trade war and contributing to market volatility.

Saudi Arabia

Tesla to launch in Saudi Arabia next month as Musk-PIF tension cools

Tesla said it would hold a launch event in Riyadh on April 10 to display its electric vehicles and other products, including solar energy solutions and battery technology.

Saudi Arabia

Egypt, China ink $1.65B deal for steel factories in Suez: What we know

The deal was signed by Egypt’s General Authority of the Suez Canal Economic Zone and the Industrial Development Authority with Xin Feng Egypt Steel and its parent company, Xin Feng China as Cairo-Beijing ties grow closer.

Egypt

Exclusive

'Cloud First' policies give Saudi Arabia, UAE edge in AI race: Amazon exec

In March 2024, AWS announced plans to invest $5.3 billion in Saudi Arabia to launch a cloud infrastructure region in the kingdom by 2026.

By Jack Dutton

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

How UAE AI firm's past China links stalled this US chipmaker's IPO

Cerebras Systems executives had been hoping that the Trump administration would fast-track the national security review that has left the chipmaker’s initial public offering in limbo for five months, Reuters reported Tuesday.

United Arab Emirates

Iran’s currency drops to more than 1 million rials to US dollar: What to know

This is yet another record low for Iran’s currency, as the country navigates intense sanctions and US pressure.

Iran

Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge

The Turkish lira and equities have fallen sharply since the arrest last week of Istanbul Mayor Ekrem Imamoglu — a key rival to President Recep Tayyip Erdogan — on corruption charges, which he denies.

Turkey

Analysis

AI, aluminum and chips: Decoding UAE's Sheikh Tahnoon's visit to Trump

The Emiratis continue to negotiate with Washington to facilitate access to AI chips produced by US firms.

By Jack Dutton

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

Mideast airlines cancel flights as outage closes Heathrow Airport

At least 1,357 flights were scheduled to depart or arrive from Britain's busiest airport on Friday, and the Middle Eastern carriers were not spared from the disruption.

United Arab Emirates

Analysis

Turkey’s shaky economy early casualty of Imamoglu’s arrest on terror charges

The arrest of Istanbul Mayor Ekrem Imamoglu on dubious terror charges has rattled investor confidence, sending the lira plunging, triggering market turmoil and raising fears of prolonged political instability.

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Maersk raises rates as Red Sea crisis costs Egypt $800M per month

Yemen’s Houthi rebels have resumed attacks on ships in the Red Sea and the United States is escalating its military campaign against the Iran-backed group.

Egypt