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Intelligence for the New World Economy

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Intelligence for the New World Economy
Semafor World Economy
Manal Albarakati

Manal Albarakati

Email Manal

Gulf bosses optimistic over post-war rebound

The region’s sovereign wealth funds “did not step back” during the war, Wael Younan, co-head of sovereign wealth management at US asset manager TCW, said at Semafor’s The Gulf’s Golden Age, Interrupted.
Courtesy of Manal Albarakati

How Gulf airlines are luring passengers back despite regional uncertainty

Emirates and Etihad have started offering insurance to travelers, while Emirates’ new policy covers conflict-related medical costs, flight cancellations, and delays.
An Etihad Airbus A380 aircraft arrives over the top of residential houses to land at Heathrow Airport in west London.Hannah McKay/Reuters

How soccer fans in the Gulf are balancing work and the World Cup

Companies around the region are giving employees flexible hours after their respective national teams play.
Saudi fans gather in Riyadh to watch the match against Uruguay.Hamad I Mohammed/Reuters

Oman-UAE trade gets wartime boost

Trade between the two countries jumped to nearly $3.8 billion in the first quarter, as Iran’s closure of the Strait of Hormuz pushed commerce onto land routes through the sultanate.
The Al Mirani Fort and traditional houses are surrounded by mountains, in Muscat.Benoit Tessier/Reuters

Saudi nationals head south for mountain summer escape

This month, the region, Aseer, launched its summer season, aiming to draw more than 3 million visitors with 122 events across its highland villages.
Multi-storey houses made of stones, Asir province, Rijal Alma, Saudi Arabia.Eric Lafforgue/Hans Lucas via Reuters

Oman property fends off Iran war ripples

Residential land prices in the Omani capital Muscat rose by 43.6% in the first quarter, and the market continued to climb during the war.
A view of Muscat at night. Stelios Misinas/Reuters

Iran war is region’s costliest in decades

The Iran war has had a broader impact on the economies of the Middle East than any other conflict in the past 50 years.

Prewar, Gulf corporate profits were on a tear

The region’s listed companies saw net profits rise 15.5% to a record $67.9 billion in the first quarter, before the beginning of the war in Iran.

Gulf tourism limps back from war

Flights have returned, with Etihad and Emirates back close to their prewar capacity, but the war is hammering their profits, and hotels are even worse off.

Kuwait arms up against Iranian drones

The US government approved a Kuwaiti order for $2 billion in counter-drone systems.

Saudi Arabia continues expansion of Mecca with new development contracts

The contracts are part of the kingdom’s push to triple the number of pilgrims visiting during Hajj and Umrah to more than 30 million annually by 2030.

UAE drafts first Arabic-language law

It is a significant move for a country where Emiratis make up less than 12% of the population, and where Arabic has ceded ground in daily life.

Hajj pilgrimage to Mecca begins

Saudi Arabia has modernized some of the structures to accommodate more pilgrims and lower the heat, which can reach more than 50 degrees Celsius.

Iranians attend Hajj despite war

The fact that any Iranians are being allowed this year reaffirms Riyadh’s policy of not politicizing its guardianship of Islam’s holiest sites.

Iran war drives up Hajj pilgrimage costs

Fewer flights and disrupted supply routes are driving up prices ahead of Hajj, the pilgrimage which begins with its main rituals in Mecca.

Dubai real estate developer Emaar reports record sales despite Iran war

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

Trump’s favorite tenor secures another Saudi-backed gig

Andrea Bocelli appeared alongside the Saudi National Orchestra and Choir at the Temple of Venus and Roma in the Italian capital.

Emirates posts record profits for third consecutive year

The airline is the world’s most profitable carrier, despite the Iran war effectively shutting down its home airport at the end of the reporting period.