Gulf investment to turn inward to rebuild postwar infrastructure: QNB Charles-Emmanuel de Beauregard, Qatar National Bank’s head of corporate and institutional banking, said that the Gulf countries will need to rebuild their logistics capabilities after the closure of the Strait of Hormuz. Qatar
Saudi Aramco's VC arm sees boom in emerging technologies, retail Anas Alqahtani, CEO of Wa'ed Ventures, expects strong growth in Saudi Arabia’s emerging technology and retail sectors over the coming years. Saudi Arabia
Analysis As Trump admin drops Halkbank case, S-400 last big hurdle in US-Turkey ties The move eases a key source of friction with Turkey ahead of a NATO summit in Ankara. By Amberin Zaman Reporting on geopolitics, minorities, human rights, culture
Bessent says Iran's frozen assets will pay for Gulf damage, Hormuz tolls US Treasury Secretary Scott Bessent said that any damage Iran inflicts on Gulf allies will be paid for with funds extracted from Iranian accounts. Iran
Who is Bill Pulte, Trump loyalist tapped as intelligence director? By Jared Szuba In Washington, DC, reporting on defense, national security, military
Analysis Ports and infrastructure: UAE embraces new economic order in Syria By Samuel Wendel In Washington, DC, reporting on regional business and tech
Double trouble: Lebanon’s Salameh gets second arrest warrant from Germany Riad Salameh is under increased scrutiny in Europe on suspicions of money laundering at a time Lebanon is grappling with a deteriorating financial and economic crisis. Lebanon
Turkey Elections: Currency fears grow ahead of presidential runoff Turkey’s foreign exchange crunch has become so grave that the authorities would even go for limiting cash withdrawals from credit cards to keep the Turkish lira from plunging. Turkey
Israel raises interest rates to highest level since 2006 The Israeli economy was also affected by the government’s controversial judicial reform plans earlier in the year, though the situation may normalize following the reform’s pause. Israel
Germany, Italy hold talks with Saudi Arabia, Qatar to strengthen energy ties Italy is looking for capital from Saudi Arabia's Public Investment Fund for a new fund Rome is setting up to help domestic companies in strategically important sectors. Saudi Arabia
Morocco’s economy to benefit as EU drops it from money laundering list The North African country was removed from the list of high-risk countries for money laundering and terrorism financing in a decision announced by the European Commission on Wednesday. Morocco
Coinbase 'welcomed' to Abu Dhabi's Hub71, hinting at new base in UAE Coinbase CEO Brian Armstrong said at a Dubai-based tech event that the UAE could serve as a hub for parts of the Middle East, North Africa and Asia. United Arab Emirates
Will Telecom Egypt stake sale help country achieve IMF reforms? An expert said it was "unclear” whether the sale helped solve Egypt’s “key problem” of accessing hard currency. Egypt
Analysis Saudi Aramco, high-value IPOs face impending pressure in 2023 The United Arab Emirates saw the world’s largest IPO of first quarter 2023, with ADNOC Gas PLC raising $2.5 billion on the Abu Dhabi Securities Exchange. By Salim A. Essaid
Egypt inflation drops to 31.5%, but food prices still rising Annual inflation fell slightly in April compared to the previous month as the central bank readies its next decision on interest rates. Egypt
Lebanon’s angry depositors demand their money back from banks Bank depositors staged a sit-in in Beirut to protest the banks' illegal policies imposed on their deposits amid a stifling economic crisis. Lebanon
In boost to China, UAE and Kuwait become 'dialogue partners' in Shanghai Cooperation Organization The Gulf states made up half of the new partners at the annual Shanghai Cooperation Organization meeting in 2023. United Arab Emirates
Gulf stock markets drop into red with new Fed rate hike The United States Fed raised interest rates by a quarter of a percentage point on Wednesday, which led to Gulf central banks following suit. Legacy: Gulf
