Search results

A memorandum of understanding was signed by Saudi Arabian Military Industries (Sami) with the drone maker in early July, during a visit by defence minister Prince Khalid to Türkiye.

Potential deals in Australia and Rwanda would add to a portfolio that already includes stakes in British Airways, Cathay Pacific and China Southern, and is part of a strategy to boost traffic through Doha’s Hamad International Airport.

The government has announced plans to draw up a comprehensive redevelopment for the capital’s old commercial hub, following a large fire in mid-June which destroyed dozens of businesses and left three people dead

Another lesser-known UAE royal has turned up touting business in Africa, with RAK ruling family member Sheikh Ahmed Bin Faisal Al-Qassimi signing deals to develop cable manufacturing and smart electricity meter plants in Zimbabwe and an investment agreement in Uganda.

The Kuwaiti authorities are said to have come under pressure from Riyadh to support its economic restructuring strategy, including giga-projects such as MBS’ flagship city of Neom, at a time when other sources of inward investment into the kingdom have failed to match Saudi ambitions

Prominent go-between: Qatar has emerged as a major player in regional conflicts – making itself very useful to a wide range of partners by acting as an interlocuter between various Islamist movements and western governments in crises from Afghanistan to Gaza.

Emir at the centre: Political power in Qatar is heavily concentrated in Emir Sheikh Tamim Bin Hamad Al-Thani and a close network of advisors. While some other members of the ruling Al-Thani family are in the cabinet, they are often only distantly related to the emir, rather than his closest relatives. Tamim has further consolidated his control over key portfolios by directly tying ministries and governmental agencies to his Diwan.

Saudia placed an order for 105 Airbus planes during the Future Aviation Forum in Riyadh, where local conglomerate AHQ Group signed an MoU with Brazil’s Embraer to review the potential launch of a new airline in the region.

Abu Dhabi Deputy Ruler Sheikh Tahnoun Bin Zayed Al-Nahyan held talks with US national security advisor Jake Sullivan and former president Barack Obama in Washington on 5 June, before travelling to Seattle to meet senior Microsoft figures.

Riyadh has continued to tap a range of sources of finance to support investments in the domestic economy, with Aramco shares worth $11bn being sold and the Public Investment Fund issuing $830m in debt, pushing the PIF’s total debt burden close to $40bn.

Assets under management at Oman’s sovereign wealth fund increased to $50bn by end-2023, on the back of an improved rate of return on OIA’s investments.

With great power competition rising between the US and China over the development of artificial intelligence, the major Gulf economies are being forced by Washington to pick a side. The UAE appears to have come down firmly in favour of working with American AI firms, while Saudi Arabia has been divesting its American AI investments and striking deals with Chinese rivals.

Abu Dhabi National Oil Company’s decision to buy a 10% stake in Mozambique’s offshore Area 4 concession from Portugal’s Galp, at a cost of some $1.15bn, further positions the Emirate as a growing investor in African gas.

UAE President Sheikh Mohammed Bin Zayed Al-Nahyan (MBZ) travelled to South Korea in late May for a two-day official visit, during which he oversaw the signing of a Comprehensive Economic Partnership Agreement (CEPA).

UAE sovereign wealth funds Investment Corporation of Dubai and Abu Dhabi's giant Mubadala Investment Company have reported growth in their assets under management of 10% or more over the past year.