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The initial days of Donald Trump’s second stint in the White House seemed to pick up where his first term left off, with big investments promises by Gulf states to secure the president’s favour. However, deal-making has been quickly overtaken by more strategic concerns and grandiose political posturing, with suggestions the US could force Gaza’s population to move to Jordan, Egypt or even Saudi Arabia, while Trump has renewed his ‘maximum pressure’ campaign on Iran, hinting darkly that Washington could support Israel ‘bombing the hell out of them’.

Iran | Saudi Arabia | Bahrain | Yemen | United Arab Emirates (UAE) | Iraq | Qatar
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Three stalwarts of the Abu Dhabi economy – Ahmed Al-Mazrouei, Sultan Al-Jaber and Mohammed Al-Suwaidi – have joined the AI council.

United Arab Emirates (UAE)
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Sections of this RMR on recent developments in Kuwait include: Economic contraction, Raising sin and other new revenue, Budget deficit, Public Debt Law, Oil discoveries, Crude output rise, Death penalties enacted and Iraqi talks. 

Kuwait
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Manama is to increase the proportion of relatively limited crude export revenues that flow into its Future Generations Reserve Fund, which has still not recovered from the drawdowns the government made during the Covid-19 pandemic in 2020.

Bahrain
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Revenues grew by more than 50% in 2024 but profits were down by a third, as the conglomerate chaired by UAE national security adviser Sheikh Tahnoun Bin Zayed Al-Nahyan dealt with a mixed performance from some key subsidiaries including Multiply Group and Alpha Dhabi.

United Arab Emirates (UAE)
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The newly-appointed board of trustees at Mohamed Bin Zayed University of Artificial Intelligence includes several familiar faces – in yet another indication of how small the core group is that runs Abu Dhabi’s AI efforts.

United Arab Emirates (UAE)
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The Oversight and Anti-Corruption Authority (Nazaha) has been opening more investigations and making more arrests. With its powers strengthened by a new law in November, the Saudi graft-buster could ramp up its activities further.

Saudi Arabia
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Phoenix Group, which has a number of links to billionaire UAE national security adviser Sheikh Tahnoun Bin Zayed’s business empire, has secured a 80MW power supply for a new crypto-mining site in Ethiopia, in the latest stage of an international push which has taken the Abu Dhabi-based cryptocurrency firm to Oman, Canada and the US –and which could soon lead it to South America.

United Arab Emirates (UAE)
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Italian export credit agency Sace is proving its largest ever finance facility to support Saudi megaproject Neom’s use of Italian supplier.

Saudi Arabia
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Fly Persia, a Shiraz-based airline that operates two ageing Boeing 737 aircraft, has prevailed in a six-year-long trademark dispute with the far larger FlyDubai, after a Luxembourg court ruled their logos weren’t likely to be confused.

Iran | United Arab Emirates (UAE)
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Suhail Bahwan Group and its fertilizer venture have experienced a bumpy ride in Algeria over the past two decades, but recent talks in Algiers suggest the Omani group could be ready to agree further investment – adding to its long history of being a big player in the sultanate.

Oman
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Kuwait businessman Abdullah Al-Humaidi plan to develop a ‘Disneyland-style’ resort was launched in 2011, but collapsed over environmental concerns and a failure to secure sufficient investment.

Kuwait
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The Saudi sovereign wealth fund has signed a one-off deal with FGS Global, whose other clients include the UAE Embassy in Washington DC.

Saudi Arabia
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Zain has been chasing a debt now standing at $877m against Prince Hussam Bin Saud Bin Abdelaziz since 2015, but the Kuwaiti telecoms company’s bankruptcy petition against the Al-Baha governor has been ruled out by London’s Chief Insolvency and Companies Court, which said it had now jurisdiction over the case.

Kuwait | Saudi Arabia
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Eagle Hills has signed an MoU with Georgia’s government to develop mixed-use schemes in Tbilisi and the Black Sea resort of Batumi. Meanwhile, the prospects for its Grand Budapest project in Hungary have dimmed significantly.

United Arab Emirates (UAE)