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The rivalry for influence across the region between Russia and United States broke out into the open as a series of proposed defence deals emerged in the first half of October. Saudi Arabia has suggested it could buy missile defence systems from both Moscow and Washington, Bahrain says it is also in the market for Russian missile defences and the UAE may be close to breaking from the regional norm for aircraft procurement with a deal to buy Russian fighter jets.
With increasing amounts of Moscow's business now being transacted through Gulf states, impending G7 and EU sanctions on Russian diamond exports offer opportunities and risks for the Dubai Diamond Exchange, which has grown rapidly to become the largest trading hub in the world for the rough gems.
Bahrain's recently-appointed Civil Service Bureau president Sheikh Daij Bin Salman Bin Daij Al-Khalifaheld talks with Prime Minister and Crown Prince Salman Bin Hamad Al-Khalifa at Gudaibiya Palace late October.
Emirate Ruler Sheikh Mohammed Bin Rashid Al-Maktoum (MBR) approved in November Dubai's budget for 2024-26, with total expenditure of AED246.6bn ($67bn) over the three years.
While Qatar has not signed up to the Abraham Accords to normalise ties with Israel, it has developed a viable working relationship with the Israeli government over recent years, particularly in regard to funding and other aid to Hamas-run Gaza.
Houthi forces in Yemen have continued to launch missiles and drones towards Israel. A drone from Yemen was shot down over the Red Sea in mid-November by the United States Navy destroyer USS Thomas Hudner.
Former UK Prime Minister David Cameron made a surprise return to the British government when he was appointed foreign secretary. During his time as premier, from 2010 to 2016, he did much to expand relations with the Gulf states.
Kuwait recorded a KD6.5bn ($21bn) surplus for fiscal year ending 31 March 2023, its first annual surplus since 2014/15.
UAE state-owned defence conglomerate Edge Group has been showcasing its drones, guided munitions, electronic warfare products and other wares at the Expodefensa 2023 trade fair in Bogota, Colombia, held from 5-7 December.
The Saudi government has set out SR1.25tn ($333.6bn) worth of spending plans for 2024, in a budget statement issued on 6 December.
Polls will be held on 18 December in all parts of Iraq other than the Kurdistan region. The vote will be an important test for the relative strengths of the main Shia and Sunni blocs, but will also offer an insight into the standing of those behind the 2019 Tishreen protest movement.
Sheikh Mishaal Al-Ahmed Al-Jaber Al-Sabah is due to take his oath as emir at a special session of the National Assembly (parliament) in the coming days, following the death of his half-brother Emir Sheikh Nawaf Al-Ahmed Al-Sabah on 16 December. Given Mishaal has been the de facto ruler since November 2021, the handover should be seamless, while the more critical element will be his choice of crown prince.
The Saudi government said its non-oil mineral resources are now thought to be worth some $2.5trn, based on recent discoveries and rising demand for rare earth elements. It is following the UAE’s lead in looking to strike deals with African mineral producers such as Democratic Republic of Congo.
Emir Sheikh Tamim Bin Hamad Al-Thani made a number of changes to his cabinet on 8 January, less than a year after his last major overhaul to the executive team. Among the most significant changes was the promotion of minister of state for foreign affairs Sultan Bin Saad Al-Muraikhi to the cabinet.
Crown Prince Mohammed Bin Salman’s favoured Public Investment Fund has been among the most prominent clients of US lobbying and legal firms over the past year, as Saudi Arabia seeks to strengthen its relations with Washington and support its subsidiaries’ investments in the American market.
