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Abu Dhabi Investment Authority (Adia) is investing HK$18.5bn ($2.89bn), via a joint venture with Hong Kong-listed New World Development Company (NWD), in the biggest hotel deal registered in Asia in a decade. NWD has sold Adia stakes in three major Hong Kong hotels: the Grand Hyatt Hong Kong and Renaissance Harbour View in Wan Chai, and the Hyatt Regency in Tsim Sha Tsui; they will form part of the new 50:50 Adia/NWD joint venture.

United Arab Emirates (UAE)
Free

Allegiance Commission chairman Prince Mishaal Bin Abdelaziz is apparently still in Europe after going to Geneva in late August (GSN 928/8). He had previously spent just one month in the Kingdom after visiting Switzerland in July and spending a month in New York on ‘special leave’.

Saudi Arabia
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A member of the ruling Al-Sabah family is facing a misdemeanour charge for allegedly assaulting an on-duty police officer, according to local media reports. The unnamed royal was detained after the officer in question submitted a medical report and CCTV footage of the incident was reviewed by the authorities.

Kuwait
Issue 981 - 13 November 2014

Profile: Al-Sayed puts QIA back on track

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Of all the changes Sheikh Tamim Bin Hamad Al-Thani oversaw on becoming emir, none was more significant than the withdrawal of Sheikh Hamad Bin Jassim Al-Thani (HBJ) from any formal role. While HBJ had been expected to step down as prime minister and foreign minister, his removal from the Qatar Investment Authority (QIA), where he had been chief executive, came as more of a shock. Widely seen as one of the architects of modern Qatar, and responsible for the emirate’s bold international investment portfolio, the charismatic HBJ left large shoes to fill.

Free

A ruling is expected in the coming weeks by Canada’s Federal Court on a case brought by Daniel Turp, a law professor and former Quebec politician, to stop the export of light armoured vehicles to Saudi Arabia – the latest sign of difficulty for Riyadh in buying arms from Western countries. If successful, the case will halt a C$14.8bn ($11.2bn) export order, which has been described by local daily The Globe and Mail as “the largest advanced manufacturing export contract in Canadian history”.

Saudi Arabia
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The death on 30 November of George HW Bush, 41st president of the United States, prompted some heartfelt expressions of sympathy from Gulf leaders, particularly in Kuwait and Iraqi Kurdistan. Images of Bush and the American flag were displayed on the iconic Kuwait Towers on the day he died. In a letter to Bush’s son, Potus 43 George W Bush, Emir Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah said “we have lost a dear friend… the Kuwaiti people will never forget him as a supporter of justice.”

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Ian Fleming’s villain Auric Goldfinger reminded James Bond: ‘Once is happenstance. Twice is coincidence. Three times, it’s enemy action.’ As a third Gulf hydrocarbons company this year falls victim to a cyber attack, speculation is rife over who is to blame.

Iran | Saudi Arabia | Qatar
Issue 1079 - 26 April 2019

Iran/Iraq/Yemen: Poor performance

Free

Among non-GCC economies, the International Monetary Fund expects Iran to sink further into recession in 2019; the IMF predicts a 6% contraction this year, as US sanctions bite. Previously, the IMF had predicted the Islamic Republic’s economy would shrink by 3.6%. The forecast for Iraq’s GDP growth rate has been cut from 6.5% to 2.8%, which – alongside the UAE – would still make it the best-performing this year of the economies in the GSN region.

Iran | Yemen | Iraq
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The League of Arab States summit, held in Amman in late March, was an opportunity for the Hashemite kingdom to reaffirm its loyalty to the wealthier Gulf monarchies to its south. It also provided a platform to reaffirm Jordan’s stability and valuable buffer status from the unstable countries to its north. While lacking his late father’s charisma, King Abdullah Bin Hussein has proved adroit at the diplomatic footwork needed to stradde the grittier end of the Arab world and the GCC.

Saudi Arabia
Issue 1042 - 04 August 2017

Qatar: Pakistani trainer aircraft arrive

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The Ministry of Defence showed off its first batch of Pakistan-built Super Mushshak training aircraft by posting photos on Twitter on 19 July. The planes will be used to train pilots at Al-Attiyah Air College. Qatar signed a contract in June 2016 with Pakistan Aeronautical Complex (PAC) to buy eight of the planes.

Qatar
Issue 1032 - 24 February 2017

Saudi Arabia: Renewables schemes launched

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The Ministry of Energy, Industry and Mineral Resources launched its first requests for qualifications for the National Renewable Energy Programme on 20 February. It marks the start of an ambitious plan to develop 3.45GW of renewable energy by 2020 and 9.5GW by 2023. First round projects include the installation of 300MW of solar photovoltaic energy at Sakaka, in Al-Jouf province, and a 400MW wind project at Midyan, Tabuk province. The projects will be backed by a 25-year power purchase agreement for the solar scheme and a 20-year PPA for the wind project.

Saudi Arabia
Issue 915 - 12 January 2012

Contingency plans over Strait of Hormuz

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Whether or not Tehran is bluffing, its threat to close the Strait of Hormuz has gained enough amplitude for western powers to prepare contingency plans, according to industry sources

Iran
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British Prime Minister David Cameron visited King Abdullah in Jeddah on 6 November, and was decorated with the King Abdelaziz Sash of the First Class, traditionally given to leaders of “sisterly and friendly countries”.

Saudi Arabia
Issue 937 - 06 December 2012

Who is in the new Kuwait parliament?

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Thirty of parliament’s 50 seats went to candidates who have not previously been MPs. Three seats went to women – Maasouma Al-Mubarak, who has held several ministerial positions and was elected in 2009, and two newcomers, Safa Al-Hashem, who has previously worked in the higher education ministry, and lawyer Thikra Al-Rashidi.

Kuwait
Issue 1060 - 25 May 2018

Iran: Free trade deal with Asia

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Tehran signed a provisional deal to create a free trade zone with the Eurasian Economic Union (EAEU) at a ceremony on the sidelines of the Astana Economic Forum in Kazakhstan on 17 May. The deal has been on the cards for some time, but reaching a full free trade agreement could take another three years, according to EAEU Economic Commission chair Tigran Sargsyan.

Iran