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The headquarters of SpaceX in Hawthorne, California, with a Falcon 9 booster in March 2024.

Explainer

Saudi investors could emerge as key winners from SpaceX’s historic IPO

A new disclosure from Saudi Arabia's Kingdom Holding ahead of SpaceX’s Nasdaq debut shows just how valuable Elon Musk's relationship with Gulf investors has become.

Latest News

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

David Rosenberg

In Tel Aviv, reporting on business and tech

Billionaire entrepreneur and founder of SpaceX Elon Musk speaks below a computer-generated illustration of his new rocket at the 68th International Astronautical Congress 2017, Adelaide, Australia, Sept. 29, 2017.

Elon Musk’s SpaceX to provide internet services in Bahrain, Israel may be next

Musk has already assisted Bahrain with its satellite program and has additional space-related interests in Turkey.

Crypto hacking event returns to Dubai

The UAE is emerging as a regional hub for cryptocurrency activities.

United Arab Emirates

Elon Musk gestures as he speaks during a press conference at SpaceX's Starbase facility near Boca Chica Village in South Texas on Feb. 10, 2022.

Saudi Arabia, Turkey react to Elon Musk's Twitter takeover

Musk’s purchase of the social media giant is being heavily discussed in Saudi Arabia and Turkey, where the billionaire has a complicated history with both governments.

Swvl transportation.

Dubai-based transportation startup Swvl acquires Turkey’s Volt Lines

Swvl has recently bought other firms in Europe and Latin America and has received funds to help advance the transportation safety of women in Egypt.

United Arab Emirates

Marco Bello/Getty Images

UAE crypto push continues as Kraken invades Abu Dhabi

Two other cryptocurrency exchanges have also announced moves to Dubai recently.

United Arab Emirates

A picture taken on January 3, 2021, shows a general view of Egypt's High Dam in Aswan.

German bank to fund Aswan Dam, construction of solar plant in Egypt

The Aswan Dam provides half of Egypt’s power supply. Egypt is also working to increase its use of solar power.

Morocco solar

Emirati firm to build solar power plants in Morocco

Morocco is heavily dependent on imports for its energy needs, and is working to increase its use of renewable sources.

An employee works at StoreDot's headquarters in the Israeli coastal city of Herziliya on Feb. 16, 2021.

Volvo invests in Israeli electric car battery maker StoreDot

There is growing demand for electric vehicles in Israel. Like cars that run on gasoline, electric cars come with environmental concerns.

Guests attend the DHL E-Commerce forum during the Mercedes-Benz Istanbul Fashion Week at Zorlu Performance Hall on Sept.14, 2018, in Istanbul, Turkey.

Online shopping in Turkey took off in 2021

The jump coincides with growth in Turkey’s fintech sector, but e-commerce faces some challenges.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

FAYEZ NURELDINE/AFP via Getty Images

Robots to help Muslim pilgrims at holy sites in Saudi Arabia

The robots will explain prayer rituals in Mecca and Medina in multiple languages, according to Saudi religious authorities.

Christian Marquardt/Getty Images

Shareholder Saudi prince rejects Elon Musk’s bid to buy Twitter

Prince Alwaleed bin Talal, one of the largest shareholders of the social media giant, believes Twitter is worth more than Musk is offering.

A Moroccan passes by an advertising billboard for a sheep purchase loan ahead of Aid el-Kebir holiday on Nov. 26, 2009, in Rabat.

OPEC loans $100 million to Morocco to promote financial inclusivity

Financial technology (fintech) is expanding across the Middle East and enabling more people to use financial tools. But some cultural barriers remain.