Economy

Egyptian gold prices climbed in October, driven by a significant weakening of the pound against the dollar, even as international gold markets dipped. This shift highlights how local currency dynamics are reshaping investor strategies.

The state oil giant is taking a 49% stake in the PIF-backed firm to build massive data centres and diversify beyond crude.

Despite efforts to diversify, the nation's finances remain overwhelmingly tied to global energy markets, impacting public spending and investment.

Oman's digital economy programme targets a RO 1.5 billion GDP contribution and 3,000 annual jobs by 2030. This ambitious plan signals a major acceleration in the Sultanate's Vision 2040 economic diversification efforts.

Morocco's latest Finance Bill commits MAD 400 billion to public investment and creates 34,454 new jobs. It balances significant spending with tax reforms to benefit households and businesses.

This major UK investment in Salalah boosts the Sultanate's digital economy goals, aiming to make it a regional data hub for the future.

The significant increase in accommodation is part of a wider national strategy to transform the global sporting event into long-term economic gains for the North African nation.

Egypt's six-day forum gathered 8,000 participants to chart a national economic course beyond the IMF programme, focusing on private sector growth and fiscal health.

The decision offers a temporary shield against rising costs for Egyptian households and businesses, but the government's commitment to ending fuel subsidies by 2025 looms large.

Egyptian officials are in Bangkok advocating for expanded financial tools and greater private sector involvement to bolster the nation's economic recovery amid regional challenges.

A recent missile strike on Saudi Aramco's Dhahran headquarters has rattled investor confidence, threatening the Kingdom's ambitious Vision 2030 economic transformation goals. This escalation prompts questions about the security of vital energy infrastructure.

Egypt's currency is under renewed pressure, driven by substantial financing requirements and broader geopolitical instability in the region. This shift affects import costs and investment outlook.

After more than a decade of isolation, Syria is taking crucial steps to rejoin the global financial system, signalling a path to strategic trade and investment.

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.

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.

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.

The UAE has seen its foreign direct investment surge to an unprecedented level, marking nine consecutive years of growth and underscoring its shift towards advanced technology and a knowledge-based economy.

The Saudi stock market saw a strong rebound, with the Tadawul All Share Index (TASI) gaining over one percent, driven by major bank and energy stocks and steady oil flows.

As parliament prepares to debate the 2027 budget, you'll want to understand how a proposed new exchange rate and a significant deficit could affect your purchasing power and business operations.

The Kingdom is pausing flagship projects and entertainment events as the Public Investment Fund shifts toward strict spending limits.

A technical upgrade to the Tadawul allows orders to fill across multiple price levels. It comes as the market looks to recover from a difficult third quarter.

The United Arab Emirates has warned Britain it may pull significant investments after a Premier League ruling against Manchester City, signalling a rare diplomatic and economic escalation stemming from sports.

Soaring global energy prices have pushed Morocco's trade gap wider, putting pressure on household budgets and government finances.

As the Lebanese pound loses more than 98% of its value, the country's economic recovery hinges on crucial IMF-backed reforms. However, a presidential challenge to a new banking law highlights ongoing political hurdles.

The Kingdom projects a significant economic contraction in 2026 due to falling oil activity, yet remains committed to its multi-billion dollar Vision 2030 projects.