Invest Qatar sees big role for logistics sector, World Cup spurred investments

The Gulf country ranks seventh globally in logistics competence in Agility's Emerging Markets Logistics Index as the Qatar Free Zones Authority brings in top companies in the sector.

Qatar

OPEC chief defends oil cut phase-out plans despite bearish market

The markets reacted bearishly OPEC+'s Sunday output decision, worrying it could lead to oversupply later in 2024 despite slow demand growth.

United Arab Emirates

Interview

Oman to phase out polluting industries 'too difficult to decarbonize'

Omani Minister of Energy and Minerals Salim Al Aufi told Al-Monitor that if his government finds an industry too difficult or costly to decarbonize, there will be discussions taking place about phasing the sector out all together.

Salim Al Aufi

Oman Minister of Energy and Minerals

Qatar National Bank says GCC banks have more liquidity than global rivals

An executive at the Qatari lender said that Gulf countries will have to compete with the rest of the world for billions of dollars in equity to finance infrastructure projects, of which there is a higher demand than supply.

Saudi Arabia

Le Drian says France keen to help Saudi Arabia transition away from oil

France's former top diplomat said that his country was supportive of Saudi Arabia's efforts to diversify its economy.

Saudi Arabia

Egypt’s foreign reserves hit record $46B on back of UAE, IMF deals

Egypt’s foreign reserves have been boosted by a recent Emirati investment in the Ras El-Hekma coastal area, though the economy is still struggling with inflation.

Egypt

Saudi Arabia sees 477% increase in multinational HQs in first quarter

The 127 international companies relocating to Saudi Arabia so far this year follow a Saudi program to attract world businesses.

Saudi Arabia

Turkey’s inflation tops 75% but economy czar says 'worst is over'

Finance and Economy Minister Mehmet Simsek has said that inflation will begin dropping from June.

Turkey

Leadership turnover fuels new uncertainty as Mideast economies navigate Gaza fallout

US reportedly slows AI chip exports to Mideast as Saudi Arabia turns to China

Washington has further restricted imports of critical components for AI systems to certain countries, including some undisclosed ones in the Middle East.

Saudi Arabia

Middle East economic outlook caught between low growth, high debt convergence

Karen Young

In Washington, DC, reporting on regional energy

UAE main destination for smuggled African gold, report claims

Swissaid estimates that 405 metric tons of gold, mostly mined by small-scale or artisanal miners, were smuggled out of Africa in 2022 and ended up in the UAE.

United Arab Emirates