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Intelligence for the New World Economy

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Intelligence for the New World Economy
Semafor World Economy
Ed Clowes

Ed Clowes

Gulf News Editor

Email Ed@edclowes

UAE developer Alabbar to invest $20B in Syria developments

The proposed projects, part of a wave of Gulf capital being poured into Syria’s reconstruction, align with a broader effort to keep the country out of Iran’s orbit.
A view of Damascus.
Mahmoud Hassano/Reuters

OPEC trims oil demand forecast

The producer group cut its growth forecast for world oil demand this year by 20% — its third straight downward revision.
An OPEC logo.
Maxim Shemetov/File Photo/Reuters

UAE wins access to US AI chips and other advanced technology

The UAE government and approved companies no longer need licenses to buy semiconductor processors, some commercial satellites and military equipment, or dual-use items for civil nuclear power, a first in the Gulf.
Nvidia Blackwell Ultra GPU featuring SK Hynix’s HBM3E.
Ann Wang/Reuters

Gemcorp lands its first Saudi deal

A $20 million facility in Saudi marks Gemcorp’s first direct lending deal in the kingdom.
The King Abdullah Financial District in Riyadh
The King Abdullah Financial District in Riyadh. Hamad I Mohammed/Reuters

ADNOC wants more gas stations, eyes Africa and Southeast Asia

The company’s retail arm ADNOC Distribution is broadening its global expansion strategy.
Bader Saeed Al Lamki, Chief Executive Officer, Adnoc Distribution is pictured at the cashless and contactless artificial intelligence driven store at the Sheikh Khalifa Energy complex in Abu Dhabi, United Arab Emirates, December 7, 2021.
Satish Kumar/Reuters

ADNOC spends $1B on gas stations in South Africa

The deal hands Abu Dhabi state oil company’s retail arm 580 gas stations and a 10% market share in Africa’s largest economy.
A worker fills a car at a fuel station in Johannesburg, South Africa, March 16, 2022.
Siphiwe Sibeko/Reuters

Russia faces growing fuel shortage

President Vladimir Putin acknowledged this week that Ukrainian drone attacks on Russian refineries had triggered fuel shortages, but downplayed the severity of a crisis.

Hormuz traffic tests US-Iran truce

Traffic through the waterway has more than tripled since a US-Iran interim peace deal, but remains far below prewar levels.

Bahrain imposes fresh curbs on Shiite Muslims

The most lasting legacy of the US-Iran war in the Gulf may be renewed tensions between Sunni and Shiite populations.

Gulf divided over reconciling with Iran

Saudi Arabia and Qatar are moving toward reconciliation, while the UAE — which suffered the vast majority of Iranian attacks — is not in a hurry to move on.