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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

IVAN PISARENKO/AFP via Getty Images

Saudi Arabia to build giant solar power plant

The plant, which will be partially owned by the Saudi sovereign wealth fund, will have more output than other solar energy facilities in the region if all goes to plan.

Visitors stand in front of works by Bybit on display during the 15th edition of Art Dubai at Madinat Jumeirah in the Gulf emirate of Dubai, on March 10, 2022. - Art Dubai, the Middle East's largest annual contemporary art fair, featured for the first time digital works, as the wealthy Gulf emirate seeks to position itself as a crypto-assets hub. - RESTRICTED TO EDITORIAL USE - MANDATORY MENTION OF THE ARTIST UPON PUBLICATION - TO ILLUSTRATE THE EVENT AS SPECIFIED IN THE CAPTION (Photo by Karim SAHIB / AFP)

UAE’s cryptocurrency ambitions to continue despite FTX crash

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A worker cleans a car near graffiti of Saudi King Salman bin Abdul-Aziz Al Saud, Riyadh, Saudi Arabia, Nov. 5, 2017.

Saudi electric car company Ceer to build factory near Red Sea

Ceer, which will be Saudi Arabia’s first electric vehicle-maker, is the latest Saudi project to help the oil-rich kingdom diversify.

500 Global.

American VC fund 500 Global comes to Egypt despite tech downturn

Some startups in Egypt are struggling, which is part of a wider regional trend.

GIUSEPPE CACACE/AFP via Getty Images

Saudi Arabia approves two new AI companies

Saudi Arabia and the UAE are both intent on growing their artificial intelligence sectors.

DIRK WAEM/BELGA MAG/AFP via Getty Images

Abu Dhabi launches new cryptocurrency hub despite downturn

Despite a global slump, cryptocurrency is growing in the UAE in line with the government’s diversification goals.

Binance CEO Changpeng Zhao sits on the main stage at Abu Dhabi Finance Week (ADFW) in an interview with Mike Novogratz, the CEO of Galaxy Digital Holdings.

Binance CEO takes heat at Abu Dhabi event after FTX fall

Changpeng Zhao maintained that crypto is the future, despite cryptocurrency exchange FTX filing for bankruptcy last week.

Israel’s OurCrowd invests in a $60 million AI hub in Abu Dhabi

The Israeli investment platform will build on the UAE's efforts to become a world leader in artificial intelligence and attract more futuristic technology companies to the country.

UAE tech

Abu Dhabi Global Market adopts blockchain for courts

The move comes amid other financial changes in the Gulf state. Blockchain technology is also used for cryptocurrency.

Hydrogen

UAE’s Masdar thinks Africa poised to be hydrogen hub

The African continent has a lot of potential to produce hydrogen as an energy source, but there are also many challenges, according to some observers.

Kurdcoin founder says lack of regulation crypto's big challenge in Iraq

Al-Monitor interviewed Abdurrahman Bapir, who heads Iraq’s first cryptocurrency exchange, on the appeal of cryptocurrency in Iraq and the Kurdistan Region and how the crypto crash has affected the domestic market.

JENS SCHLUETER/AFP via Getty Images

Germany’s Deutsche Bahn announces Egyptian high-speed rail deal at COP27

Egypt’s railway system is notorious for safety issues and German's expertise promises to help.