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Intelligence for the New World Economy

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Intelligence for the New World Economy
Semafor World Economy

Semafor Gulf

Saudi Arabia’s sizable deficit is a risk worth taking

Higher spending led to an unexpectedly large deficit in the first quarter, but inaction would have been a bigger risk.
General view shows the King Abdullah Financial District Metro Station in RiyadhHamad I Mohammed/Reuters

Phoenix Group makes AI data center pivot into Europe

The Abu Dhabi-based Bitcoin miner told Semafor last year it was pivoting to small-scale AI infrastructure.
A Phoenix mining facility in Abu Dhabi.A Phoenix mining facility in Abu Dhabi. Courtesy of Phoenix Group.

Abu Dhabi backs $30B infrastructure partnership

The agreement is the latest sign of Abu Dhabi pushing ahead with investment activities despite the Iran war.
Abu Dhabi’s skyline.Hamad I Mohammed/Reuters

UAE denies Israeli PM’s claim of ‘historic’ visit

Netanyahu’s office said the secret visit had deepened cooperation, but the UAE foreign ministry insisted that the reports of the “alleged visit” were false.
Israeli Prime Minister Benjamin Netanyahu.Ronen Zvulun/Pool/Reuters

Fertiglobe warns of war’s long-term impact on food prices

High urea prices are squeezing farmers and raising fears of lower crop yields, conditions that could persist even if Gulf shipping routes reopen.
Agricultural workers load a tractor with fertilizer. Stringer/Reuters.

China’s Iran calculus extends beyond Hormuz

Beijing has different interests to the US in the Iran war, which may preclude any breakthrough during Trump’s visit.
US President Trump visits ChinaEvan Vucci/Reuters

UAE makes major investment pledges in Damascus

The pledges signal Abu Dhabi’s growing comfort with Syria’s new leadership.

UAE delivers on US investment pledge

More than $100 billion in investment and trade deals between the US and the UAE have been announced since Trump’s visit to the Middle East a year ago.

Kuwait arrests Islamic Revolutionary Guards Corps members

Four men arrested in Kuwait have confessed during interrogation to being affiliated with Iran’s IRGC.

Mubadala-backed M42 pitches genomics capabilities to the world

The healthcare firm has gathered a large database of the UAE’s gene pool, which it is using for personalized care.

Vision 2030’s biggest breakthrough isn’t in the charts

The kingdom’s real achievement — curbing corruption — barely appears in its annual review, even though it made all the rest possible.

Iran war draws in more Gulf nations

US President Donald Trump on Tuesday said Iran must strike a deal or “be decimated,” as Gulf nations’ involvement in the war came into clearer view.

Dubai real estate developer Emaar reports record sales despite Iran war

Founder Mohamed Alabbar said the results reflected the resilience of the UAE economy.

Qatar and UAE edge closer together with subsea cable project

Qatari telco Ooredoo Group and Dubai-based du plan to land the Fibre in the Gulf (FIG) subsea cable in the emirates.

UAE AI development faces bottlenecks, executives say

While access to chips has been a focus for Gulf states, other factors are also delaying progress.

Qatar sovereign wealth fund pledges $500M investment with General Atlantic

It’s the latest sign that the Gulf’s biggest funds are still actively seeking deals even as the closure of the Strait of Hormuz hits state revenues.

US war on Iran elevates China’s role in the Gulf

Gulf states won’t weaken ties with Washington, but Beijing’s role in investment, trade, and security arrangements are poised to grow.

Trump says Iran truce is on ‘life support’

Oil prices ticked back up on Monday as the standoff between the US and Iran deepened.