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Saudi Arabia’s Public Investment Fund (PIF) is preparing to launch a new body to oversee shipbuilding and ship maintenance and repair services in the kingdom in the near future, in its latest effort to diversify the economy and develop new industrial sectors.

National carrier Saudia's fleet will be updated with at least 39 new Boeing 787 Dreamliner aircraft, but newly-established Riyadh Air could get even more, underlining Crown Prince Mohammed Bin Salman’s determination that yet another Public Investment Fund (PIF) vehicle muscles into the domestic market. The deal is worth close to $37bn, US government officials calculated – suggesting that, whatever the geopolitics, America Inc can still flex its muscles in the kingdom.

The mountainous province in Saudi Arabia's south-west has been earmarked as a future centre for tourism, notwithstanding the threats posed by attacks from Houthi rebels across the border in Yemen. Asir could be a model for Crown Prince Mohammed Bin Salman’s post-oil development ambitions, as well as for more short-term efforts to stabilise potentially restless populations.

Following threats to refer firms to the General Authority for Competition, the Public Investment Fund has acquired shareholdings in four major contracting companies, giving PIF chair Saudi Crown Prince Mohammed Bin Salman an equity stake he has long had his eye.

Abu Dhabi International Airport’s new Midfield Terminal is now expected to open in December, some six years later than planned. GSN was told the delay was one reason why the UN’s COP28 climate summit in November would be held in Dubai, rather than Abu Dhabi, while Alpha Dhabi Holding subsidiary Trojan General Contracting completes the work.

The Saudi Fund for Development has agreed to inject $320m into a joint project to build the infrastructure to support a new special economic zone (SEZ) in Oman’s Al-Dhahirah governorate.

Saudi Arabia’s Public Investment Fund (PIF) has taken control of the Diriyah mixed-use development on the outskirts of Riyadh, adding to the sovereign fund’s list of 'giga-projects'.

A project to build a port in Al-Mahra governorate to export limestone was approved by the Yemeni government in early January, but has sparked criticism from locals.

For all United Nations special envoy to Yemen Hans Grundberg’s efforts at shuttle diplomacy, the continued failure to relaunch the UN-backed ceasefire – which ended in October – has raised the prospect of renewed threats to shipping in the waters around Yemen. This has particular resonance for the UAE, which has often resorted to using commercial vessels as part of its security response.

Imagery recently released by the United States space agency Nasa has highlighted the dramatic change in Bahrain over the past three and half decades, as a result of huge land reclamation schemes.

Mohammed Bin Salman (MBS) has been pushing his economic reform agenda in the days since being named prime minister. On 29 September, he unveiled a new strategy for Savvy Games Group, a subsidiary of the state-owned Public Investment Fund (PIF), with the aim of turning the kingdom into a hub for gaming and esports by 2030.

DP World is a principal tool in the UAE’s economic relationship with Russia. The Dubai-based ports and logistics giant has established itself as a leading actor in eastern Europe; it has a sizeable presence in the Black Sea and nearby areas, handling trade into and out of Russia and neighbouring countries.

Qatar is gearing up for the start of the Fifa World Cup on 20 November, following a last-minute change in the tournament schedule. A massive public arts campaign is being rolled out – led by Qatar Museums chief Sheikha Al-Mayassa Al-Thani – to go alongside state-of-the-art stadium architecture. The authorities will be hoping sport and culture remain the focus, rather than criticism about workers’ rights or any untoward behaviour by fans, but as a Perspective article from GSN issue 1154 highlights, Qatar has successfully dealt with numerous other challenges in the run-up to being awarded the tournament in 2010.

Energy and shipping are at the heart of the warm relations between Russia and the UAE, providing Moscow with an outlet to the world that avoids western sanctions. It is a relationship that might rankle with Washington, but appears to be in line with local public opinion, with polling suggesting that more Emiratis value good relations with Russia and China than with the United States.

The Saudi government is setting up a SR300bn ($80bn) fund to support the development of the futuristic city of Neom in the kingdom’s remote north-west corner.