MUST-READS

• FedEx Boosts Cross-Border E-Commerce Growth in the UAE and Saudi Arabia

  Federal Express Corporation (FedEx), the world’s largest express transportation company, has launched FedEx® International Connect Plus (FICP) in the United Arab Emirates (UAE) and Kingdom of Saudi Arabia, a shipping solution ideal for e-commerce packages weighing up to 20 kg. This new international, day-definite, service combines speed with competitive rates, connecting e-tailers in just 3-4 business days*.

• Saudi, UAE Venture Capital Funding Slumps on Investor Shift

  Venture capital funding in the Middle East slumped in 2024, even as the number of deals increased, as investors shifted toward early-stage investments. Startups in the region raised $1.5 billion, a decline of 29% compared to the previous year, according to a report from venture capital data platform Magnitt. Saudi Arabia, which accounted for almost half of that funding, experienced a 44% drop. Still, the kingdom retained its position as the top destination for venture capital funding in the Middle East for the second consecutive year. Meanwhile, the United Arab Emirates saw investments drop 8% in 2024, to $613 million. The number of venture capital deals rose 10% to 461 transactions, according to the Dubai-based firm. However, the region didn’t see the kind of big-ticket deals that turned Saudi-based fintechs Tabby and Tamara into unicorns in 2023.

• UAE, Saudi markets eye fresh wave of blockbuster IPOs after record 2024

  This comes as the Gulf region’s two largest economies build on a year that saw Saudi Arabia list 57 companies while the UAE raised $6 billion from just seven IPOs. The UAE’s IPO pipeline could include potential landmark deals such as national carrier Etihad Airways, online marketplace Dubizzle, hospitality firm Five Holdings, and IT company Alpha Data, though none have officially confirmed listing plans. Saudi Arabia kicked off 2025 with the successful listing of Nice One Beauty Digital Marketing Company on Wednesday, the kingdom’s first unicorn tech company to debut on the Main Market, while United Cartons Industries and Umm Al Qura for Development have secured approvals for upcoming listings. Budget airline Flynas is awaiting regulatory approval for what could be the kingdom’s first airline IPO.

• UAE discusses post-war Gaza government with US and Israel
  The United Arab Emirates has discussed with Israel and the United States participating in a provisional administration of post-war Gaza until a reformed Palestinian Authority is able to take charge, according to people familiar with the talks. The behind-the-scenes discussions, reported by Reuters for the first time, included the possibility of the UAE and the United States, along with other nations, temporarily overseeing the governance, security and reconstruction of Gaza after the Israeli military withdraws and until a Palestinian administration is able to take over, a dozen foreign diplomats and Western officials told Reuters.

• How UAE is Beating Saudi Arabia, Qatar, Oman, Bahrain, Jordan, Iran, Iraq, Kuwait, Israel, Lebanon, and Syria in Surging Tourism Growth Across the Middle East

  But what truly sets the UAE apart isn’t just its attractions—it’s how the country consistently reinvents itself. While Saudi Arabia is still developing its Vision 2030, Qatar focuses on luxury, and Oman specializes in eco-tourism, the UAE delivers a fully realized tourism ecosystem. Progressive visa policies, safety, state-of-the-art airports, and year-round events make the UAE not just a destination but an experience tailored to global tastes.

• UAE residents cut Umrah costs by up to 50% with Saudi Arabia’s transit visa, stopover option

  Some UAE residents are taking advantage of Saudi Arabia's stopover visa to perform Umrah while travelling on vacation or business, allowing them to cut costs by as much as 50 per cent. “They wanted to perform Umrah while they were here in the UAE. Initially, I applied for an Umrah visa, but my travel agent suggested the stopover visa as a more economical option,” said Abdel Hadi, who is a social worker. "With the transit visa, we completed the pilgrimage for just Dh8,000, including accommodation, food, and flight tickets,” Abdel Hadi said. They travelled by train from the Jeddah airport to the holy city of Makkah and then from there to the holy city of Madina.

• Saudi crown prince receives UAE vice president in AlUla

  Saudi Crown Prince and Prime Minister Mohammed bin Salman received Vice President of the United Arab Emirates Sheikh Mansour bin Zayed Al-Nahyan at the winter camp in AlUla on Tuesday. Bader Al-Asaker, director of the Private Office of the Saudi Crown Prince, published a photo of the meeting on his official account on the social media platform "X" on Tuesday. The meeting witnessed the exchange of friendly talks that reflected the strength of the deep-rooted brotherly relations between the Kingdom and the UAE. The meeting came as an extension of the ongoing communication and fruitful cooperation between the leaderships of the two countries in various fields, in a way that strengthens the bonds of fraternity and serves common interests.

• UAE becomes Africa’s largest investor, overtaking China

  The UAE has emerged as Africa’s largest backer of new business projects, with Emirati companies committing $110bn (£88bn) to projects between 2019 and 2023, including $72bn in renewable energy, The Guardian reports citing FT Locations. These pledges outpace investments by the UK, France, and China, as traditional investors scale back. African leaders have also welcomed the UAE’s increased financial interest, particularly for green energy and infrastructure. “African countries are in dire need of this money [for] their own energy transitions,” Ahmed Aboudouh, associate fellow at Chatham House was quoted as saying. “But at the same time, [Emirati investors] come in with less attention to labour rights, to environmental standards.” The UAE’s investment ambitions align with its strategy to diversify from oil and gas. Major players include Dubai’s DP World, operating six African ports, and Abu Dhabi Ports, which has expanded in Guinea, Egypt, and Angola. In Zambia, International Resource Holdings—a conglomerate linked to Sheikh Tahnoon bin Zayed—secured a surprise $1.1bn deal for a 51 per cent stake in Mopani Copper Mines.

• UK’s Starmer to Push for Stronger Ties With UAE, Saudi Arabia in First Gulf Visit
  British Prime Minister Keir Starmer will begin a multi-day visit to the Gulf on Sunday, his first trip to the region since taking office, seeking stronger economic and defence ties with the United Arab Emirates and Saudi Arabia. He will aim to boost investment and deepen defence and security partnerships, the government said in a statement on Saturday, describing the two Middle Eastern countries as "some of the UK's most vital modern-day partners." Starmer, elected to lead the world's sixth-largest economy in July, will arrive in the UAE on Sunday, where he is due to hold talks with President Sheikh Mohamed bin Zayed Al Nahyan on Monday. He will fly to Saudi Arabia later on Monday to meet Crown Prince Mohammed bin Salman.

• Special Envoy Lipstadt’s Travel to Egypt, Bahrain, Saudi Arabia, and the UAE

  The U.S. Special Envoy to Monitor and Combat Antisemitism, Ambassador Deborah Lipstadt, departed this week for travel to Egypt, Bahrain, Saudi Arabia, and the United Arab Emirates from December 3-14.  This is Ambassador Lipstadt’s fourth trip to the Middle East and North Africa since assuming office in May 2022; her last trip to the region was to Israel in December 2023.

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