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Reuters
Italy's Enel and Masdar already have a partnership for a portfolio of renewable energy assets in Spain

Masdar in talks to develop energy storage in Italy

Italy’s Enel and Abu Dhabi’s Masdar have begun talks over jointly developing energy storage capacity in Italy, Flavio Cattaneo, the CEO of Italy’s biggest utility, said on Friday. The companies already have a partnership for a portfolio of renewable energy assets in Spain and are exploring options to extend their alliance to more countries, Cattaneo […]

Italy and the UAE are partnering to develop a major AI centre in Italy

Italy and UAE announce deal on AI centre

Italy and the United Arab Emirates have agreed to develop an artificial intelligence centre in Italy, industry minister Adolfo Urso said on Friday. Abu Dhabi-based AI group G42 has entered into a partnership with Italian company iGenius to build “the largest AI computing infrastructure in Europe”, Urso’s ministry said in a statement. G42 will be […]

The European Commission headquarters in Brussels. Adnoc will need to meet EC rules for its purchase of Covestro

Adnoc seeks EU approval for Covestro deal

Abu Dhabi state oil company Adnoc on Thursday sought EU approval under the bloc’s foreign subsidies rules for its €14.7 billion ($16.4 billion) acquisition of German chemicals company Covestro, according to a filing on the European Commission site. Adnoc, which last week won the green light under EU merger rules for the deal, is making its biggest […]

Jordan banks: Bank al Etihad, one of Jordan's biggest lenders, provides a range of mainly retail services

Jordan’s Bank al Etihad buys smaller Investbank

Jordan’s Bank al Etihad has acquired smaller peer Investbank in a deal that will create one of the kingdom’s biggest lenders, bank officials said on Thursday. The two banks’ boards agreed to a stock-for-stock acquisition that will create an entity with a total equity value of over $1.4 billion, Bank al Etihad chairman Basem Salfiti […]

DP World will develop, manage and operate a multi-purpose terminal at Tartous in Syria

DP World to invest $800m to develop port in Syria

Dubai’s DP World and the Syrian government have signed a memorandum of understanding worth $800 million to develop Syria’s port of Tartous, Syrian state news agency Sana said on Friday, after the lifting of US sanctions cleared the way for the deal. The deal is to develop, manage and operate a multi-purpose terminal at Tartous […]

President Donald Trump during a visit to Al Udeid Air Base in Qatar. He says the country will invest $10 billion in the base

Trump says Qatar will invest $10 billion in US airbase

US President Donald Trump said on Thursday that Qatar will invest $10 billion in coming years in the Al Udeid Air Base southwest of the country’s capital Doha, the largest US military facility in the Middle East. In a speech to US troops at the base during his tour of the Gulf, Trump also said Qatari defence […]

Nvidia CEO Jensen Huang

US ‘to let UAE import millions of Nvidia’s AI chips’

The US has a preliminary agreement with the United Arab Emirates to allow it to import 500,000 of Nvidia’s most advanced AI chips per year starting in 2025, sources said. The move will boost the Emirates’ construction of data centres that are vital to developing artificial intelligence models. The sources said the agreement was at least […]

Syrian finance minister Yisr Barnieh said there has been strong interest to do business from Saudi Arabia, the UAE, Kuwait, Qatar and several EU countries

Syria invites foreign investors after US sanctions removal

Syrian finance minister Yisr Barnieh made a call to global investors on Wednesday to come and do business with Syria after US President Donald Trump’s surprise announcement that he would lift all of Washington’s sanctions on the country. “Syria today is a land of opportunities, with immense potential across every sector—from agriculture to oil, tourism, infrastructure, and transportation,” Barnieh […]

An oil pump jack in Saskatchewan, Canada. Opec expects output from non-members to reduce

Opec expects slower 2025 oil supply growth from rivals

Opec on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider Opec+ group this year and said it expected lower capital spending following a decline in oil prices. Supply from countries outside the Declaration of Cooperation – the formal name for Opec+ – will rise […]

Mehmet Simsek, Turkey's minister of finance, insists economic transformation is progressing despite recent market turbulence, highlighting disinflation

Turkish minister says economy on track despite slower growth

Turkey’s finance minister has said the country’s economic transformation was on track and that the country was prepared to deal with slower growth. Finance minister Mehmet Simsek said that tighter financial conditions, lower oil prices and a weaker dollar were likely to be disinflationary, boosting the economy. “Growth is slower but we can live with […]

Air Force One is seen on a screen as it lands in Riyadh, Saudi Arabia. The new plane gifted by Qatar is worth $400m

Trump dismisses concerns over Qatari plane gift

US president Donald Trump has dismissed ethical concerns about his decision to accept a Boeing 747-8 jet as a gift from the Qatari royal family. Trump said it would be “stupid” to turn down the generous offer. The $400 million luxury plane, which would be outfitted to serve as Air Force One, would be one of […]

Freighter, Ship, Transportation

Suez Canal considers transit fees discount to revive traffic

Egypt’s Suez Canal Authority chief, Osama Rabie, said the authority is considering offering discounts ranging from 12 to 15 percent on transit fees to help restore traffic in the strategic waterway reeling from attacks by Yemen’s Houthis on Red Sea shipping. Rabie told privately owned Sada Al-Balad television channel in a phone interview that the […]

US President Donald Trump disembarks Air Force One. The Qatari 747 is intended to be a replacement

Trump plans to use Qatari 747 as Air Force One

US President Donald Trump’s administration intends to accept a Boeing 747-8 plane as a gift from the Qatari royal family that would be outfitted to serve as Air Force One, according to a source briefed on the matter. The luxury plane, which would be one of the most valuable gifts ever received by the US government, […]

Analysts cited an increase in the official price of fuel as the main cause of Egypt's inflation rise

Egypt’s inflation climbs as fuel becomes expensive

Egypt’s annual urban consumer price inflation accelerated to 13.9 percent in April from 13.6 percent in March, matching analyst expectations, data from statistics agency Capmas showed on Saturday. Month on month, prices were 1.5 percent higher at the end of April than at end-March. Food and beverage prices decelerated by 1.5 percent. Annually, food and […]

Guinea is aiming to revoke EGA's mining licence

Guinea ‘to pull EGA’s licence over alumina refinery row’

The Guinean government’s move to revoke Emirates Global Aluminium’s (EGA) mining licence stemmed from the company’s failure to fulfil its commitment to construct an alumina refinery, sources have told Reuters. Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension […]

President Donald Trump has made improving ties with some countries in the Gulf region a main goal of his administration

US might ease chip export curbs on some Gulf nations

President Donald Trump said on Wednesday he will soon have an announcement on whether the US will ease microchip export restrictions to some Gulf countries. “We might be doing that, yeah,” Trump said. “And it will be announced soon.” Trump is preparing for his first major diplomatic trip next week that includes a three-country Middle […]

A Covestro laboratory. The EU competition watchdog is scheduled to decide on Adnoc's takeover of the German company by May 12

Adnoc expects EU approval for Covestro deal

Abu Dhabi state oil major Adnoc is set to secure unconditional European Union (EU) antitrust approval for its €14.7 billion ($16.6 billion) takeover of German chemicals company Covestro, two people with direct knowledge of the matter said. The deal, Adnoc’s biggest ever, underscores Middle East countries’ plans to diversify their investments and reduce dependence on oil amid the global transition […]

The IMF has yet to publish a staff report from the fourth review, saying the Egyptian authorities needed more time to consider its publication

IMF to review Egypt’s economic reforms this week

The International Monetary Fund (IMF) will begin the fifth review of Egypt’s $8 billion economic reform programme, with a team scheduled to arrive in Cairo this week, the IMF said in a statement on Monday. The IMF board approved the fourth review on March 11, unlocking a disbursement of $1.2 billion in a 46-month IMF […]

Goldman Sachs believes that the high spare capacity and high recession possibility skew the risks to oil prices to the downside

Goldman Sachs expects oil at $60 after Opec+ decision

Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, Opec+, to accelerate oil output increases, the bank said in a note on Sunday. Goldman now expects Brent crude to average $60 per barrel for the rest of 2025 and $56 per barrel in 2026, […]

Kuwait's civil aviation authority said it had fired Kuwait Airways' CEO due to 'repeated failure to comply with aviation safety rules and regulations'

Kuwait Airways fires CEO after authority disapproval

The CEO of state-owned Kuwait Airways, Ahmad Al-Kreebani, has been fired and replaced by Abdulwahab Al-Shatti. Al-Shatti took over the job on Sunday, two sources with direct knowledge of the matter said. Kreebani’s dismissal after two years in the job followed a decision by the country’s civil aviation authority to withdraw its approval for his […]

A drilling rig at the Zhetybay field in Kazakhstan. It defied Opec+ this month when its energy minister said he will prioritise national interests over those of Opec+

Opec+ accelerates oil output hikes despite weak demand

Opec+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day (bpd), the group said on Saturday. This is despite falling prices and expectations of weaker demand. Following an online meeting lasting just over an hour, the producer group announced the supply increase, saying […]

Greece aims to attract more visitors throughout the year, signing a deal with Emirates that includes a codeshare with Aegean Airlines to expand travel options

Emirates signs agreement with Greek air carrier Aegean

Greece has signed an outline deal with Dubai’s Emirates that includes a codeshare agreement with Greek air carrier Aegean, the country’s Tourism Ministry said on Friday, as it seeks to attract more tourists all year round. The codeshare agreement will expand travellers’ access to popular destinations, including the islands of Santorini, Mykonos and Rhodes, the […]