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The Saudi Fund for Development (SFD) said on 2 December that it had rolled over a $3bn deposit placed with State Bank of Pakistan. akistani Prime Minister Shehbaz Sharif praised the move to shore up dwindling foreign exchange reserves.

GSN Risk Grade: F6 US explosives seizure: The United States Navy said it had intercepted a fishing vessel in international waters in the Gulf of Oman on 8 November and found a large quantity of explosive material which it said was being smuggled from Iran to Yemen.

Doubts are being raised about the wisdom of Dubai’s efforts to become a hub for crypto finance companies, following the high-profile collapse into bankruptcy of the FTX exchange on 11 November. However, officials seem committed to the UAE playing a continuing global role in blockchain initiatives.

QatarEnergy signed a 27-year deal with China Petroleum & Chemical Corporation (Sinopec) to supply of 4m t/yr of liquified natural gas (LNG) to China. The agreement is the first long-term deal from Qatar’s North Field East (NFE) expansion project, which is expected to come online in 2026.

Saudi Arabia is laying claim to developing the world’s largest single-site solar photovoltaic (PV) plant, under a new joint venture between the local Acwa Power and the Water and Electricity Holding Company (Badeel), a subsidiary of the government’s Public Investment Fund (PIF). PIF also has a major stake in Acwa.

Iran has announced a series of advances for its home-grown missile arsenal, as western powers raise concern Tehran may be willing to provide missiles for Russia to use in the Ukraine war.

A reported bid by an Ajman-based consortium to buy Doncaster Sheffield Airport in the United Kingdom from the local Peel Group appears to have failed, after the approach was blocked by the current owner.

The UAE appears to be trialling the Israeli Barak-8 air defence system, with satellite imagery from an air defence site at Al-Muqatra south of Abu Dhabi suggesting a Hawk air defence battery previously at the site has been replaced by two launchers and a radar from the Israeli system, as first noted on Twitter by Ben Reuter.

Deals worth $1.8bn were agreed at Bahrain International Air Show, according to officials, although few details were publicly announced. The sixth running of the show was held from 9-11 November at Sakhir Air Base, in the centre of the island. Some 186 companies participated from 33 countries, with visits from 225 military and civil delegations.

A keel-laying ceremony was held in Marinette, Wisconsin, for the second ship in the Tuwaiq project, which will provide the Royal Saudi Naval Forces (RSNF) with four multi-tasking combat ships able to deal with air, surface and subsurface threats.

Paul Weir was named chief executive of Genel Energy on 3 October. The London Stock Exchange (LSE)-listed firm has interests in the Kurdistan Region of Iraq’s Sarta, Taq Taq and Tawke licences.

Russia has appointed a new ambassador to Iran, replacing Levan Dzhagaryan who has repeatedly attracted controversy in recent years, in a move which could help to smooth bilateral relations at a critical juncture given Moscow’s demand for Iranian drones in Ukraine.

Saudi Prince Abdullah Bin Faisal, a low-profile member of the Al-Saud family, has been sentenced to a 30-year jail term after being accused of acting to destabilise the kingdom, disturb social unity and support the country’s opponents.

Iran has voiced concerns that recent fighting between Armenia and Azerbaijan, which flared up again in September, will impact its direct trucking routes through Armenia via the Lachin corridor to Georgia and Russia. Iranian Supreme Leader Ayatollah Ali Khamenei said: "The Islamic Republic will not tolerate policies or plans that lead to the closing of the Iran-Armenia border."

Oman’s Sultan Haitham Bin Tariq Al-Said made a relatively rare trip within the region in October, travelling to Bahrain for talks with King Hamad Bin Isa Al-Khalifa. The two rulers witnessed the signing of several agreements, including ones on co-operation in security, transport, tourism, education and other areas.