News, economy and analysis from across the Middle East
EconomyAnalysis
The UAE's economy reached $262 billion in the first half of 2026, with non-oil sectors driving nearly 80% of activity, despite a slowdown in the second quarter. This performance underlines the nation's push away from oil reliance.
Riyadh and Abu Dhabi signed a landmark agreement to deepen cooperation on electricity grids and cross-border rail, aiming to cut logistics costs and improve energy resilience across the region.
The decision reflects improved resilience against external pressures and robust economic growth, despite regional geopolitical tensions.
Saudi Aramco and NESR are investing $200 million in the region's first direct lithium extraction project, aiming to produce battery-grade material by 2027. This move is a crucial step in the Kingdom's drive to become a key player in the global electric vehicle supply chain.
President Sisi met with South Korean business leaders to promote a new industrial hub, aiming to significantly boost foreign investment and make Egypt a regional export powerhouse.
The UAE has seen its foreign direct investment surge to an unprecedented level, marking nine consecutive years of growth and underscoring its shift towards advanced technology and a knowledge-based economy.
Saudi Aramco has tapped KBR for a significant engineering contract to upgrade its Marjan offshore field, ensuring long-term production stability and advanced gas processing capabilities. This investment highlights the Kingdom's commitment to its energy future.
The Saudi stock market saw a strong rebound, with the Tadawul All Share Index (TASI) gaining over one percent, driven by major bank and energy stocks and steady oil flows.
As parliament prepares to debate the 2027 budget, you'll want to understand how a proposed new exchange rate and a significant deficit could affect your purchasing power and business operations.
The state oil giant has cut prices for November shipments to Asia, offering its flagship Arab Light crude at a $5 per barrel discount. This move targets market share amidst high shipping costs and regional disruptions.