PayPal, UAE's DP World sign MoU to speed digital payments

Under the agreement, international transactions are expected to be executed in minutes rather than take up to a week.

United Arab Emirates

UAE wealth fund ADIA scoops into $18B Haagen-Dazs owner Froneri

The UAE sovereign wealth fund has become a co-investor in Froneri in a deal valuing the global ice cream firm at about $18 billion.

United Arab Emirates

Saudi, Chinese companies to develop giant aluminum industrial hub in Riyadh

The new industrial base is set to cover 1.5 million square meters and will be developed in two phases, with the first expected to be completed in 30 months and create more than 1,800 jobs.

Saudi Arabia

UAE deepens Asia ties as Malaysia, Australia trade deals kick in

Asia accounts for around 60% of the world’s gross domestic product and pursuing trade deals there helps the UAE hedge against dependence on both the US and China.

United Arab Emirates

What’s next for Saudi Arabia’s budget balancing act as deficit doubles?

The Gulf state now expects a deficit of $65.3 billion in 2025 — more than double the initial forecast — as the kingdom continues heavy spending amid weak oil prices.

Saudi Arabia

Ryanair scraps Tel Aviv return amid airport dispute, regional instability

The Irish low-cost carrier said Tuesday it would not restart winter flights to Israel, scrapping some 22 routes to and from Tel Aviv and around 1 million seats.

Israel

After China, Saudi industry minister visits Vietnam in eastward economic push

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with a number of Vietnamese officials on Monday as the oil-rich Gulf kingdom looks east to diversify its economic alliances.

Saudi Arabia

Iran rial hits record low 1.13M to dollar as UN snapback sanctions resume: What to know

The sanctions, which were trigged by the three European signatories to the nuclear deal, will not hinder Iranian oil exports to China, an official said.

Iran

Gaming giant Electronic Arts taken private in $55B Saudi-backed buyout

The transaction represents a significant deal involving entities close to the Saudi Arabian and US governments.

Saudi Arabia

Trump family further expands Gulf business with $1B Jeddah plaza project

It will be the second Trump-branded development in the kingdom after the launch of Trump Tower Jeddah last December.

Saudi Arabia

Analysis

After $20B deals unravel, will Gulf oil majors scale back abroad?

International deals pursued by Saudi Aramco and the UAE's ADNOC have collapsed in recent weeks, adding fresh complications for both national oil companies amid their drive to grow in new markets.

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Saudi Arabia and Qatar pledge $89M for Syrian public sector: What to know

The new Syrian government has struggled to pay public workers sufficiently and is implementing a plan aimed at rooting out “ghost employees" who do not show up to work.

Syria