News, economy and analysis from across the Middle East
EconomyAnalysis
The IMF has sharply downgraded its regional growth outlook for next year, citing ongoing conflicts and trade disruptions. However, a significant rebound is anticipated for 2027.
OPEC has significantly adjusted its global oil demand outlook, with a sharp downgrade for next year countered by a stronger rebound predicted for 2027. This shift reflects ongoing geopolitical tensions and the critical need to rebuild global oil stockpiles.
Banque du Caire is finally going public on the Egyptian Exchange after years of delays, offering a significant stake to investors. This move is a crucial step in Egypt's wider economic reform agenda.
Iraq and Turkey are discussing a groundbreaking financing model for the vast "Development Road" project, potentially using oil revenues to build critical infrastructure. This strategic move could reshape regional trade and energy flows.
King Mohammed VI has called for a new wave of reforms to shift the economy toward private-sector leadership and high-value manufacturing.
The UAE's economy reached $262 billion in the first half of 2026, with non-oil sectors driving nearly 80% of activity, despite a slowdown in the second quarter. This performance underlines the nation's push away from oil reliance.
Riyadh and Abu Dhabi signed a landmark agreement to deepen cooperation on electricity grids and cross-border rail, aiming to cut logistics costs and improve energy resilience across the region.
The decision reflects improved resilience against external pressures and robust economic growth, despite regional geopolitical tensions.
Saudi Aramco and NESR are investing $200 million in the region's first direct lithium extraction project, aiming to produce battery-grade material by 2027. This move is a crucial step in the Kingdom's drive to become a key player in the global electric vehicle supply chain.
President Sisi met with South Korean business leaders to promote a new industrial hub, aiming to significantly boost foreign investment and make Egypt a regional export powerhouse.