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  • Full Donald Trump speech at Miami FII investment summit hosted by Saudi Public Investment Fund

    President Donald Trump spoke at an investment summit in Miami on Wednesday, Feb. 19, 2025. Saudi Arabia's sovereign wealth fund hosted the conference, which brought together global financiers and tech executives, including Elon Musk.

  • Saudi Arabia’s SMC Plans IPO in Latest Health-Care Offering

    Saudi Arabia’s SMC Hospitals is planning an initial public offering iSaudi Arabia’s SMC Hospitals is planning an initial public offering in Riyadh, joining the host of health-care firms going public in the kingdom.n Riyadh, joining the host of health-care firms going public in the kingdom. The hospital operator is working with SNB Capital and EFG Hermes on the potential share sale, people familiar with the matter said. The deal could come as early as the second quarter of this year, the people said, declining to be named while discussing confidential information. SMC operates two hospitals in Riyadh and has a third one under construction, in addition to 250 outpatient clinics, according to its website.

  • From oil to futures: Why the Gulf is well placed to play a key role in global decision-making

    The GCC is transitioning from an energy hub to a future-focused leader in global technology, investing in emerging tech, economic diversification and cultural outreach. By leveraging sovereign wealth funds, advancing AI governance and launching projects like Saudi’s new city NEOM and Abu Dhabi’s Masdar City hub, the region is shaping tomorrow’s economy and strengthening its role in future tech revolutions. As global power structures shift, the GCC also has an unprecedented opportunity to redefine its role in global decision-making. Through inclusive dialogues and multi-stakeholder engagement, the Gulf region can set a new standard for resilient governance in a complex, multipolar world.

  • Navigating Trump’s unpredictability: What next for Gulf-US ties?

    The Gulf Arab monarchies see the Trump administration’s vision for Palestine aligning with right-wing Israeli fantasies at the expense of regime security in Arab countries, which have long been close US allies. There is no doubt that there will be an impact on how GCC states look at Washington. As much as Gulf Arab leaders have tended to value Trump’s business-oriented approach to the Gulf, which avoids emphasis on human rights or talk of “values” steeped in liberal idealism, the chaotic nature of his leadership unsettles them. Rather than pursuing aggressive and maximalist foreign policy agendas, Saudi Arabia and other GCC states are instead focused on promoting greater stability in the region. Such stability in the neighbourhood is necessary for the success of their economic diversification and development initiatives such as Saudi Vision 2030.

  • GCC aims for $188bln tourism income in 2030

    Gulf oil producers seeking to diversify their sources of income away from unpredictable crude exports have set a target to achieve nearly $188 billion in tourism revenues in 2030, a Gulf official has said.  Tourists who visited the six-nation Gulf Cooperation Council (GCC) spent a record high of nearly $110 billion in 2023, said Abdullah Al Rubai, Head of the GCC’s Human and Environmental Affairs Sector. Nearly 68.1 million tourists visited the six members in 2023 and almost 27 percent of them were GCC citizens, he told Qatar’s Alsharq newspaper this week. “The number of tourists who visited the GCC in 2023 accounted for nearly 52.9 percent of the 128.7 million targeted in 2030,” Al-Rubai said.“They spent a total $110 billion during that year…the figure accounts for nearly 58.7 percent of the $188 billion targeted in 2030.”

  • Stadium naming rights for sale ahead of World Cup

    It is early days yet but the commercial case for local and international private sector companies sponsoring sports arenas in Saudi Arabia may yet emerge, after the 2034 host of the Fifa World Cup opened its stadiums to naming rights. For the moment, however, it looks as if state-backed companies with a mandate to promote the kingdom as well as themselves will dominate the space, even as sports in Saudi Arabia becomes increasingly commercialised.  “In the early stages, sponsors may primarily be state-backed entities, but the aspiration will be to attract private-sector interest in naming rights as matchday and TV audiences grow,” said Ben Gordon, associate partner at Albright Stonebridge Group, a consultancy based in Washington DC. “As Saudi Arabia becomes increasingly prominent in the boxing and mixed martial arts world, both Saudi and foreign companies may see a commercial case for sponsoring arenas.”

  • Middle East oil producers claw back India market share from Russia

    The Gulf producers – led by Iraq, Saudi Arabia and the UAE – have made gains as US-led sanctions on Moscow bite and Chinese buyers take more Russian oil. Middle East oil exports to India, which is poised to become the world’s fourth-largest economy next year, rose to a two-year high in the first half of this month, according to energy intelligence consultancy Vortexa. The Middle East’s market share now stands at 55 percent, up from 50 percent in December and January. However, the figure is still below the the 60 percent share before Russia’s full-scale invasion of Ukraine in 2022. When international sanctions were imposed on Moscow, it started selling oil at a discount and India became a big buyer. That took market share away from the Middle East.

  • Middle East Airlines Are Set to Revive an Aircraft Buying Spree

    After largely sitting out last year’s flurry of aircraft orders, some of the biggest airlines in the Middle East are now preparing to replenish their fleets, with hundreds of planned purchases set to cement the region as key growth driver for Boeing Co. and Airbus SE. Among the carriers set to add planes is Flydubai, which is looking to purchase at least 200 narrowbody jets plus 100 options, according to people familiar with the negotiations. Neighboring Etihad Airways is meanwhile in talks for as many as 40 widebody aircraft, said the people who asked not to be identified discussing confidential deliberations. Joining the fray is Qatar Airways, which is closing in an order for about 230 twin-aisle aircraft in coming months, while Gulf Air, the national carrier of Bahrain, is in talks for about a dozen widebody jets, the people said.

  • Despite regional truces, shadow of confrontation with Israel remains over Iraqi ‘resistance’

    The Gaza war has over the past year expanded to include Israeli attacks on Iranian and Syrian territory, and on Iran-allied Hezbollah in Lebanon. In recent months, this has raised significant concerns that a potential wider conflict could extend to Iraq—particularly since the “Islamic Resistance in Iraq”, an umbrella entity aligned with the Tehran-led ‘Axis of Resistance’, has claimed numerous strikes on Israel. Iraq’s political elite has been divided on how to respond to such threats, especially following Israel’s strike on military sites in Iran only weeks after the attack in the Golan Heights. While some in the administration of Prime Minister Muhammad Shia’ Al-Sudani adopted a hawkish position, expressing a readiness to confront Israel directly in the event of an assault, reports suggest that a tenuous consensus was reached to limit Iraq’s exposure to the fray. That consensus seemingly remains in place.

  • Zelensky delays trip to Saudi Arabia amid US-Russia talks

    Ukrainian President Volodymyr Zelensky has postponed an official visit to Saudi Arabia set for this week amid U.S.-Russia negotiations in Riyadh. Zelensky, who was not planning to participate in the Tuesday talks between Washington and Moscow to end Russia’s war in Ukraine, said he was delaying the trip because of Kyiv’s lack of invitation to the negotiations. He suggested that he wanted to avoid his visit being tied to the meetup. “We were not invited to this Russian-American meeting in Saudi Arabia. It was a surprise for us. I think it was a surprise for many people,” Zelensky said at a news conference in Ankara alongside Turkish President Recep Tayyip Erdoğan. “We are absolutely honest and open. I don’t want any coincidences. That’s why I’m not going to Saudi Arabia.” Zelensky will now visit Saudi Arabia on March 10. He had said Monday that he planned to visit the country later this week.