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Melissa Hancock

Melissa Hancock

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Melissa is a contributor to Semafor Gulf. She has covered the Middle East and North Africa for over 15 years, writing for MEED, Euromoney, Forbes Middle East, AGBI, Al-Monitor, The New Arab, and MEES. She previously served as an editor for The Banker, the FT’s monthly banking magazine.

Private equity deals in the Middle East see rare fall

Tighter credit conditions and valuation mismatches hampered the execution of PE deals, which fell to a three-year low in 2024.
People walk outside the Gate Building at the Dubai International Financial Centre (DIFC) November 28, 2011.The Gate Building at the Dubai International Financial Centre. Nikhil Monteiro/Reuters

Dubai’s expats face a reality check

Dubai’s once-idyllic expat lifestyle has become unattainable for many as costs rise and salaries stagnate.
A general view shows the Burj Khalifa, the tallest building in the world, on New Year’s Eve in Dubai.Amr Alfiky/Reuters

Dubai bucks global heat trend with cooler temperatures

Researchers attribute the decline in temperatures to an expansion of green spaces and water bodies.
A general view of the Burj Khalifa and the downtown skyline in Dubai.Christopher Pike/Reuters

Gulf countries race to attract motorsports fans beyond F1

Saudi Arabia has announced plans for a Mercedes F1 experience center to rival Abu Dhabi’s Ferrari World, built in 2010.
Formula One F1 - Pre Season Testing - Bahrain International Circuit.Hamad I Mohammed/Reuters

Saudi’s PIF partners with German elevator factory with $168M investment

The partnership establishes a Saudi unit that will manufacture elevators, escalators and moving walkways to meet demand from the kingdom’s giga-projects and large developments.
Technician cabin roof inspection, courtesy of TK Elevator.Courtesy of TK Elevator

Saudi Arabia’s biggest stocks hit by petrochemical slide

Rising global petrochemical supplies have driven down prices, weighing on a sector central to Saudi’s diversification strategy.
An oil refinery in Spain. Vincent West/Reuters.

UAE ramps up China charm offensive to deepen investment, tech ties

Dubai officials are in Shenzhen this week, following a tour by Abu Dhabi officials across major Chinese cities that sealed multiple deals focused on AI, advanced tech, and smart cities.

UAE to unlock employee savings for investment

Abu Dhabi investment firm Lunate’s program will allow companies to transfer mandatory workers savings into six investment funds, a move that’s expected to benefit the country’s expat population.

Dubai property developers struggle to meet the demands of ultra-wealthy

Developers in the Emirati city are used to catering to the whims of millionaires, but are sometimes stumped by the demands of the truly rich.

Abu Dhabi hits property sales record

The number of real-estate transactions increased 24% year-on-year in 2024, but the city is still far behind Dubai.

UAE launches bid to become global nuclear power

The Emirates Nuclear Energy Company plans to invest chiefly in the US, where an AI boom is driving growth in power demand, and is also in talks for a UK project.

VC firm 500 Global launches Saudi-based fund

The Riyadh-based fund will invest up to $10 million in tech startups in the Middle East and North Africa, and is backed by Saudi sovereign wealth entities.

Saudi launches $3.4B program to get rid of unproductive government workers

The kingdom’s three-year “Golden Handshake” program offers cash incentives to employees to encourage resignations.

Saudi to see GDP slowdown amid oil cuts: IMF

Non-oil GDP is projected to grow 4% for both 2024 and 2025, fueled by diversification efforts and increased investments in giga-projects.

Saudi launches first Gulf mortgage-backed securities

It’s part of the country’s push to make homeownership more affordable.

Nadal adds more star power to Saudi sports boom

Retired tennis great joins aging soccer stars participating in Saudi Arabia’s booming sports sector.

Fitch raises Oman’s outlook to positive in reversal for Gulf state

The sultanate was downgraded to junk status just seven years ago.

December sees funding splash for MENA startups

The region appears to have largely bucked the prevailing global retrenchment in venture capital funding this year.