Middle East

The U.S. Department of Justice's documents reveal that embattled financier Jeffrey Epstein attempted to create a powerful network of political figures and regional business leaders. DP World announced that Sultan Ahmed Bin Sulayem resigned from his position as chairman and chief executive. Two sources who have direct knowledge of the situation said that the decision was made after Bin Sulayem’s name appeared on the Epstein files and his relationship with the deceased convicted sex offender came under increased scrutiny. Bin Sulayem and Epstein exchanged emails in which they discussed sexual relationships between Bin Sulayem and women Epstein had helped him...

An Iraqi-Emirati consortium is planning a $700 ?million subsea-and-terrestrial data cable linking the United Arab Emirates to ?Turkey via Iraq, one of the project's backers said, just over a ?week after the announcement of ?a Saudi-backed fibre-optic project in ?Syria. Gulf neighbours Saudi Arabia and UAE each try to tap into the demand for connectivity in this region and become hubs of AI infrastructure including data centers amid a wider economic and geopolitical rivalry across the region. WorldLink is the name of the project between Iraq and the UAE. It will consist of an undersea fiber optic cable that would...

An Iraqi-Emirati consortium plans a $700 million subsea-and-terrestrial ?data cable linking the United Arab Emirates to ?Turkey via Iraq, one of the backers said, just ?over a week after ?announcement of a ?Saudi-backed fibre-optic project ?in Syria. Saudi Arabia and the UAE, two Gulf neighbours, are competing to meet the growing demand for connectivity and data centres in the region. Ali El Ekabi of Tech 964, one of three consortium members, said that the Iraqi-UAE WorldLink project would consist of an undersea fiber optic cable running from Fujairah, UAE, to Iraq's Faw Peninsula on the Gulf, which will then 'then...

British International Investment, the UK's development investment agency, welcomed DP World’s new chief executive on?Friday and said it would resume investments with the Dubai-based port operator. A spokesperson for BII stated, "We are pleased with today's DP 'World decision and look forward to advancing our 'partnership' to develop key African trading 'ports in order to unlock the 'continent's global 'trading potential." BII stopped new investments with DP World earlier this week due to alleged ties between Jeffrey Epstein and former Chief Executive Sultan bin Sulayem. La Caisse, Canada's second largest pension fund which halted new investments with DP World due...

Bombardier Canada announced on Wednesday that Dubai's Vista Global, a?private jet provider based in Dubai, has placed an order for 40 Challenger 3500 business jets worth $1.18 billion. Bombardier stated that the order includes a?option for an additional 120 aircraft, which would bring a total value of 160 planes to approximately $4.72 billion. The deal is part of a sustained 'demand for private flying', which has swollen the?order books of business jet manufacturers. The Challenger 3500, an upscaled version of Bombardier's Challenger 350 Business Jet that seats up to ten passengers, is a variant of the Challenger 350. Bombardier is...

Dubai International Airport (DXB), which is the world's busiest travel hub and is expected to?handle close to 100 millions passengers this year, according to its operator. This will build?upon a record-breaking performance in 2025. Dubai Airports said that it expects to have 99.5 million passengers by 2026 as the demand grows across major markets. DXB handled 95,2?million passengers in 2018, up 3.1% compared to 2024. India, Saudi Arabia, and Britain were its top three markets. Egypt, Italy, and China all experienced double-digit growth. Dubai is the Middle East’s largest tourism and trade hub. It's home to the tallest tower in...

Qatar's stock index rose after announcing a positive year-end earnings report. Oil prices, a major factor in the Gulf's financial market, fell as traders assessed the possibility of supply disruptions following U.S. guidelines for vessels transiting Strait of Hormuz. Iran, along with fellow OPEC member?Saudi Arabia and the United Arab Emirates as well as Kuwait, Iraq, and Kuwait export the majority of their crude oil via the Strait to Asia. Saudi Arabia's benchmark stock index fell 0.1% due to a 0.8% drop in the?Al Rajhi Bank. Two people with knowledge of the situation said that the $925 billion Public Investment...

Saudi Arabia announced a major package of investments in Syria on Saturday, covering energy, aviation and real estate, as the kingdom positioned itself as an important supporter of Syria's?new leadership. Saudi Investment Minister Khalid al-Falih announced on Saturday that Saudi Arabia has launched an investment fund for Syria, which will commit a total of?7.5 billion Saudi Riyals ($2 billion) over several phases to the development of two airports in Aleppo. Falih said that the Elaf Fund will finance large-scale Syrian projects with private sector investors from Saudi Arabia. Saudi flynas, a budget airline in Saudi Arabia, and the Syrian Civil...

Mohd Edrees The stock markets of the United Arab Emirates ended slightly higher on February 6, as investors awaited the latest news from Iran, and the high-stakes talks between the United States and Iran regarding Tehran's nuclear program. Dubai's main market has now gained for the fifth consecutive session, with a 0.2% increase to its highest level in early 2006. Oman, as the mediator between Iran and America, began negotiations on Friday. Both sides have shown willingness to negotiate. revive diplomacy Washington wants to extend the talks with Iran to cover its?nuclear dispute?with the West. Ballistic missiles U.S. Secretary Of...

Aerospace Times: Chinese civil drone manufacturer?Feipeng? is accelerating their global expansion with a focus in?Southeast Asia and the Middle East as they seek to navigate fierce domestic competition. The domestic Chinese market has become too competitive. Harry Kang said that Feipeng must go overseas. He made the statement on the sidelines at the Singapore Airshow where the company, which is not listed, is exhibiting. China's manufacturers, which are the top drone makers in the world, are testing heavier payloads, while transport companies plan air taxi services with and without crews. This is because the country has loosened airspace restrictions, and...

Hong Kong-based CK Hutchison announced on Wednesday that its 'Panama Ports Company' unit had initiated international arbitration proceedings against Panama, after the country’s top court annulled their licences to run two Panama Canal port. The Supreme Court of Panama ruled last week that the contracts were in violation of the constitution because they gave the company "exclusive privileges" and tax exemptions. Analysts said that it is not clear how long arbitration proceedings will last, but given the political sensitivities between the U.S., China, and the complexity, they could go on for several years. This is a good example of how...

After an incident that occurred?on?Tuesday, in which Iranian gunboats approached U.S. flagged tankers in the strategic waterway to the north of Oman, it has been brought back into focus. The U.S. Military also announced on Tuesday that it had shot down a?drone? from Iran which "aggressively approached" its Abraham Lincoln aircraft carriers in the Arabian Sea. This is the most visible part in a U.S. buildup of military forces in the Middle East. Analysts have said for years that an escalation of tension in the region may lead Tehran to try to close the strait, or target the tankers. Here...

Kuwait Petroleum Corporation, the national oil company, has begun early talks with potential investors about a $7 billion stake in its crude oil pipelines. This follows similar actions by Gulf neighbors Saudi Arabia and United Arab Emirates. Sources said that BlackRock, Brookfield Asset Management and EIG Partners, as well as buyout group KKR, have all shown an interest. Sources said that Chinese state-owned enterprises China Silk Road Fund, China Merchants Capital as well as I Squared Capital, Macquarie Infrastructure Partners and Macquarie Infrastructure Partners are also showing interest. Three sources confirmed that the?transaction was structured so that around $1.5 billion...

On Monday, U.S. president Donald Trump announced that he had reached a deal with Indian prime minister Narendra Modi. The agreement included a stop to the purchase of Russian oil by India. The U.S. is trying to limit Russia's oil revenues to make it more difficult for Moscow to finance the?war? in Ukraine. Here are some important facts about the oil trade between Russia and India. OIL PURCHASES After the outbreak of the Ukraine war in February 2022, India became the largest buyer of Russian oil by sea. After some Indian refiners halted imports in November under pressure from sanctions,...

Kuwaiti Prime Minister Ahmad Abdullah Al-Ahmad al-Sabah announced on Tuesday that Kuwait Petroleum Corporation plans to invite international oil companies to help Kuwait Oil Company develop recently announced offshore oil discoveries. Al-Sabah said in his opening remarks to the Kuwait Oil and Gas Show, that KPC was in discussions with global financial institutions about a?lease and a?lease-back arrangement for a Kuwaiti crude oil pipeline system. Kuwaiti sources said in January that the country was planning to sell a stake in its oil pipeline network as early as February, a deal which could raise up to $7 billion. Kuwait's Oil Minister?Tariq...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased 19% over the previous month. This was due to a seasonal decline in domestic demand, which prompted traders to ship out more. The data shows that exports were 4,6% lower than in January 2025, as drone attacks, maintenance and other factors affected the output. Sources said that the shipment of ultra-low sulphur diesel through the Baltic port Primorsk - Russia's largest port for?diesel imports - jumped 32.4% in one month, to a new record of 2.256 million tonnes, supported by an increase in production. The...

EIG Global Energy Partners hired PJT Partners as an advisor on how to structure a 'new fund' for its stake in Saudi Aramco oil pipeline assets, as the vehicle that holds it is nearing expiry. Sources said that the so-called continuation funds would allow U.S. infrastructure investors to keep the Aramco stake they bought in 2021 for a longer period of time and bring in new investors. EIG, PJT Partner?and Aramco didn't immediately respond to a comment request. A continuation fund allows a company to continue ownership of an asset after the fund's initial?lifecycle. Firms can sell assets when funds...

Calculations on Monday showed that the average daily supply of natural gas to Europe via the TurkStream pipeline by Russian energy giant Gazprom rose 10.3% year-on-year in 'January. After Ukraine decided not to renew a five-year deal for transit with Moscow, which expired in January 2025, the only remaining transit route is through Turkey. Calculations show that the total Russian gas supplied to Europe through TurkStream was 1.73 billion cubic meters (bcm) during January, compared with 1.57 bcm in the same period last year. According to calculations based on data from the European Gas Transmission Group Entsog, Russian?gas exported via...

Four people with knowledge of the situation said that the CEOs from Siemens Energy and Thyssenkrupp would join Economy Minister Katherina Riege on a trip to Saudi Arabia. The top European economy is looking to diversify its supply of energy. Reiche will travel to Saudi Arabia between February 1 and 3 to expand the economic relationship, according to a spokesperson from her ministry. This comes just days after Reiche stressed the importance of new alliances due to rising geopolitical tensions. The focus of the trip will be energy. This is a crucial issue for Germany, which is?Saudi Arabia’s most important...

Katherina Reiche, Economy Minister of Germany will be joined by the CEOs from Siemens Energy and Thyssenkrupp on a trip to Saudi Arabia. This trip is to highlight a drive to diversify energy supplies in Europe's largest economy. Reiche will travel to Saudi Arabia between February 1 and 3 to expand business relations, according to a spokesperson from her ministry. This comes just days after Reiche emphasized the need for new alliances due to rising geopolitical tensions. The focus of the trip will be energy. This is a crucial issue for Germany, Saudi Arabia's largest economic partner within?the European Union....

Saudi Aramco is the world's biggest oil company. It has issued a bond worth $4 billion in four tranches, attracting a lot of interest from investors. This was its first venture into global debt markets. IFR, the fixed-income news service, reported on Monday that the state-owned oil giant issued $500,000,000, $1.5 Billion, $1.25 Billion, and $750 MILLION in?bonds, with maturities of 3, 5, 10, and 30 years, respectively. IFR reported that the order books for the offering were over $21 billion. This showed strong investor interest, which allowed Aramco, from its initial guidance of $100 bps, to reduce the spread...

Saudi Aramco offered indicative pricing on four-tranche, dollar-denominated bond, according to a term sheet viewed by. The deal is likely to raise billions for the world's largest oil exporter. The 'indicative' price for the three year debt sale was set at 100 basis points above U.S. Treasuries. For the five-year, it was 115 basis points higher. And the 10-year and 30-year bonds, 125 and 165 basis point over Treasuries. Aramco's last foray into the debt market was in September when it raised $3 billion through a?sale of sukuk or Islamic bonds. This followed a bond issue in May that raised...

The central bank reported that Egypt's deficit on its current account decreased to $3.2 billion between July and September 2025. This is compared to $5.9 billion for the same period one year ago. The 'bank attributed this to an increase in remittances by Egyptians who work abroad, which reached $10.8 Billion in the first quarter, up from $8.3 Billion a year earlier. The Suez Canal's revenues also increased to $1.05billion from July to September of 2025, up from $931.2mil the previous year. Revenues from the canal were hit by attacks?by Yemeni Houthis, who are aligned with Iran, against shipping routes...

The spot premiums for Murban oil produced in the United Arab Emirates have reached their highest level in the past two months. This is due to the?strong demand of Asian buyers who are replacing U.S. supplies now that the arbitrage has closed. Indian refiners also use Murban as a substitute for Russian oil. This is what drives the price of Abu Dhabi's flagship Light Sour Grade despite abundant supply. Data showed that the spot premium for Murban March loading was $2.38 per barley to Dubai quotations on Tuesday. It had reached $2.53 per barrel last Wednesday, its highest level since...