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  • Embraer sees India, Saudi Arabia, EU, US as strategic defense markets

    Brazilian planemaker Embraer (EMBR3.SA), opens new tab sees India, Saudi Arabia, the European Union and the United States as strategic markets for its defense unit as it looks to expand sales of the C-390 Millennium, the head of Embraer Defense said on Tuesday.
    India has an open tender to buy military planes while Saudi Arabia, looking to replace an aging fleet of Lockheed Martin's C-130 Hercules, is currently in "early engagement" with Embraer, Bosco da Costa Junior told reporters at an event.

  • Saudi Arabia’s markets ready for annual surge in demand

    Every year, markets in Saudi Arabia witness increased footfall as Hajj pilgrims look for souvenirs and gifts to commemorate the journey of a lifetime. The gold market, especially in Makkah, Madinah and Jeddah, thrives with its showcase of intricate designs, from traditional to contemporary styles, catering to diverse jewelry tastes. Speaking to Arab News, Mohammed Akbar, a trader in Jeddah said: “During the Hajj season, we make it a point to showcase designs that cater to all nationalities. Pilgrims from diverse countries have a penchant for various types of gold.

  • Saudi Arabia seeks lithium deals in Latin America to drive electric vehicle ambitions

    Saudi Arabia, the world’s largest energy exporter, is pursuing investments in lithium production in Latin America as the kingdom seeks to position itself as a key player in the manufacture of electric vehicles.

    Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, is expected to travel to Chile, which has the world’s largest lithium reserves, in July to meet his counterpart in the capital, Santiago, Reuters reported.

    Mr Alkhorayef told Reuters earlier this year that the kingdom was interested in sourcing lithium from abroad as it aims to enter the EV sector.

  • Bracing for the Sandstorm: The Gulf Energy Transition Imperative

    In 2014, a perfect storm of global events, from the rise of US shale oil production to the refusal of the Organization of Petroleum Exporting Countries (OPEC) to cut production in order to maintain market share, sent oil prices tumbling to under $50 per barrel. Following the onset of the COVID-19 pandemic in 2020, oil exporters had to contend with historically low oil prices and revenues. The once-mighty Gulf economies found themselves scrambling to adapt to these cyclical changes, their vulnerability to the whims of the global energy market laid bare. This experience starkly reminded the region that failing to prepare, diversify, and build resilience in a world of shifting sands may leave them behind.

  • Under the Shadow of the War: Israel and Hezbollah

    Since the start of the Israel-Hamas war in Gaza October 7, 2023, Hezbollah has shown considerable restraint in its responses to Israeli attacks on its positions in Lebanon. However, intensified Israeli bombardments of southern Lebanon, targeted assassinations of Hezbollah’s midlevel commanders, and recent reported attempts on the lives of Hezbollah’s political and administrative figures would appear to signal a move by Israeli Prime Minister Benjamin Netanyahu to escalate the to-date contained, if sometimes spiking, conflict in the north, possibly as a way to prolong and expand the war in Gaza.

  • Unpacking Saudi Arabia’s $4B online fashion opportunity

    Saudi Arabia is set to shake up global e-commerce, with online fashion sales predicted to grow from $2.34 billion in 2023 to $4.08 billion by 2027, up 74 percent. According to a 2024 report by the Saudi Fashion Commission, the country is uniquely positioned compared to China, the US, and Europe, which are currently the most prominent e-commerce markets globally.

  • Understanding the Growing Collaboration Between Russia and Iran

    It seemed that over the previous decade, Russia had played a productive role when it came to the JCPOA negotiations that were trying to constrain Iran's nuclear program. Russia had a solid relationship, if not warm relationships with Israel. It wants to have positive relationships with the Gulf states. But since the war in Ukraine happened, there've been shifts. Maybe you could outline those.

  • The US is leaving, China is coming, and other overused tropes.

    There is a massive over-emphasis on what China does in the Middle East and a massive under-emphasis on what the US does here, and it makes for weak analysis. I saw a piece last week that tried to explain the China-Bahrain comprehensive strategic partnership with a similar logic: Bahrain did this because its leaders have concerns about the US commitment to the region, because they are pursuing a multi-alignment strategy (we should all agree to dispose of the word multi-aligned, which essentially means ‘not aligned), and because they are hedging. Nothing about the enhanced US-Bahrain security deal that was signed just last September. Nothing about the significance of the US Fifth Fleet based in Manama. Nothing about the defense cooperation agreement that has been in place since 1991.

  • The Houthis Escalate and Expand the War

    On June 6, the Houthis arrested several United Nations and international nongovernmental organization employees, linking them to what the group called an “American-Israeli spy cell.” Six days later, the Houthis claimed their first successful drone boat attack, striking the Greek-owned bulk carrier Tutor off the coast of Yemen in the Red Sea. At the same time, after a dip during Ramadan, Houthi attacks on commercial shipping in and around the Red Sea are again on the rise. U.S. intelligence reports suggest the Houthis are, once again, reaching out to al-Shabaab in Somalia about weapon transfers, and the group continues to look for ways to expand its reach, threatening ships as far away as the Mediterranean. These recent developments indicate the Houthis are escalating and looking to expand their war with the United States.

  • UAE to attract 6,700 new millionaires this year with Golden Visas and zero-income tax as rich Indians, Brits and Africans plan moves

    The UAE will attract more new millionaires this year than any other country, according to the Henley Private Wealth Migration Report 2024. Millionaires from the UK, India and Africa re being lured by a combination of golden visas, low tax, enviable lifestyle and a strategic location, said the report.
    For the third year running, the UAE looks set to take first place as the world’s leading wealth magnet, with a record-breaking 6,700 moneyed migrants expected to make the Emirates home by the end of the year.