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Egyptian gold prices climbed in October, driven by a significant weakening of the pound against the dollar, even as international gold markets dipped. This shift highlights how local currency dynamics are reshaping investor strategies.

Economy

The state oil giant is taking a 49% stake in the PIF-backed firm to build massive data centres and diversify beyond crude.

Economy

Despite efforts to diversify, the nation's finances remain overwhelmingly tied to global energy markets, impacting public spending and investment.

Economy

Motorists across the UAE will see their fuel costs fall for the first time in four months, providing welcome relief for household budgets and business operating expenses. This unexpected cut comes despite rising global oil prices.

Energy

While the government insists it has no need for external borrowing, a record-setting draft budget still projects a significant deficit for the coming year.

Iraq

Houthi strikes on Saudi oil facilities and Strait of Hormuz incidents have pushed Brent crude prices to their highest in five months. This surge could reshape government budgets and business costs across the region.

Energy

These significant increases, following earlier hikes in October, will impact heating, transport, and petrochemical costs across the Middle East and Asia.

Energy

Baghdad is making strides in capturing flared gas and courting international partners, including Russia, to power its economy and reduce reliance on imports.

Iraq

Iraqi Prime Minister Ali al-Zaidi's visit to Syria signals a pragmatic shift. Discussions focused on reviving the historic Kirkuk-Baniyas oil pipeline, a move that could reshape regional energy flows.

Energy

OPEC+ is set to keep oil output steady for December, but ongoing Middle East tensions are keeping Brent crude prices on a rollercoaster, impacting regional revenues and business confidence.

Gulf

The European Investment Bank is expanding its funding for Egypt's sustainable projects, from solar power to water infrastructure. This partnership aims to strengthen the economy and create jobs.

Energy

The revolving credit facility will provide a financial buffer for the energy giant's ambitious capital expenditure program as it balances traditional energy with new growth areas.

Energy

Iraq is offering substantial price cuts on its crude oil, with some sales to India seeing discounts approaching $28 per barrel. This aggressive strategy aims to secure vital export volumes amidst regional tensions and financial strain.

Iraq

Oman's digital economy programme targets a RO 1.5 billion GDP contribution and 3,000 annual jobs by 2030. This ambitious plan signals a major acceleration in the Sultanate's Vision 2040 economic diversification efforts.

Economy

Morocco's latest Finance Bill commits MAD 400 billion to public investment and creates 34,454 new jobs. It balances significant spending with tax reforms to benefit households and businesses.

Economy

This major UK investment in Salalah boosts the Sultanate's digital economy goals, aiming to make it a regional data hub for the future.

Economy

A federal lawsuit alleges Donald Trump improperly profited over $2 billion from crypto deals linked to UAE entities, sparking questions for Gulf finance.

Politics

Abu Dhabi plans an additional €15 billion investment in Greece, deepening a strategic partnership that spans energy, healthcare, and technology. This significant commitment signals growing confidence in Greece's economic future.

Gulf

A new agreement with ExxonMobil aims to boost Iraq's crucial southern oilfields, bringing vital water to maintain production. This move signals a renewed push for international energy partnerships.

Iraq

A new pipeline shutdown in Libya's western region highlights the ongoing vulnerability of its oil sector and poses a risk to state revenues.

Energy

The North African nation is boosting upstream exploration and bringing new wells online, alongside securing significant financing for Africa's largest solar project, to meet soaring energy demand.

Energy

The significant increase in accommodation is part of a wider national strategy to transform the global sporting event into long-term economic gains for the North African nation.

Economy

A major joint venture between Italy's Eni and Libya's National Oil Corporation has completed a long-awaited gas recovery project, promising significant environmental and economic benefits.

Energy

Egypt's six-day forum gathered 8,000 participants to chart a national economic course beyond the IMF programme, focusing on private sector growth and fiscal health.

Economy

Brent crude oil prices have fallen from a five-month high. A US waiver on Russian sanctions allowing increased diesel exports signals shifting supply dynamics for energy producers.

Energy

Doha's latest commitment aims to rebuild Lebanon's dysfunctional electricity sector with no upfront cost to Beirut, potentially offering a more reliable power supply for homes and businesses.

Energy

Baghdad's crude production reached its highest point this year, signalling a recovery from war-related disruptions. This rebound is crucial for the nation's finances.

Iraq

Algeria and South Africa are enhancing cooperation across oil, gas, and other key sectors, aiming to boost economic integration and investment. This strategic shift could reshape trade flows for both nations.

Energy

The decision offers a temporary shield against rising costs for Egyptian households and businesses, but the government's commitment to ending fuel subsidies by 2025 looms large.

Economy

Egyptian officials are in Bangkok advocating for expanded financial tools and greater private sector involvement to bolster the nation's economic recovery amid regional challenges.

Economy