Gulf

1. Qatar to invest in Egypt
2. Sawiris’ media reboot
3. Georgetown to stay in Doha
4. Space sector boom in Saudi
5. Oman also wants in on ports

A world record — for a training course.

Qatar joins Gulf peers in backing Egypt

Egypt may receive a $7.5 billion investment from Qatar — a striking turnaround given that just a few years ago, Cairo embargoed Doha and accused it of sponsoring terrorism. The possible pledge, the largest since the two countries normalized relations in 2021, was announced following a meeting in Doha between Egypt’s president and Qatar’s ruler. It comes as Egypt emerges from a foreign-currency crisis and works to stabilize its economy.

Gulf countries have grown wary of offering unconditional aid to Egypt, increasingly opting for investments tied to economic reforms. Last year, the UAE committed $35 billion to develop a prime stretch of beach on the Mediterranean — part of a broader $57 billion rescue package that also included the IMF and EU. This week, Saudi executives visited Cairo and received a “golden license” to reduce bureaucratic procedures, as Egypt aims to revive foreign direct investment that has yet to recover to pre-Arab Spring levels.

Moniify struggles to monetize

Egyptian billionaire Naguib Sawiris launched financial news platform Moniify at a lavish party at Dubai’s Museum of the Future in November. Meant to speak to a new generation of investors in emerging markets — a population with access to investment apps, an outsized enthusiasm for crypto, and an entrepreneurial streak — the UAE-based outlet hired aggressively, spent prolifically, and made the competition take notice.

But it quickly ran into the harsh realities of the news business, multiple current and former staffers told Semafor. Costs spiraled, with $50 million spent pre-launch and another $50 million projected annually, according to a person with direct knowledge of the matter. The outlet struggled to find a voice, debating whether content was “Gen Z enough” with terms like “earnings seazn” and “slay.” Revenue-generating plans faltered.

By February, the CEO and most of the newsroom were fired, with Sawiris’ daughter Lana brought in as CEO, and a pivot to video-only financial literacy content unveiled internally last month. Sawiris’ family office, Moniify, and the former CEO did not respond to requests for comment.

Georgetown commits to Qatar

Georgetown University agreed to maintain its branch in Qatar for another decade, committing to its Doha campus despite mounting pressure from the Trump administration on US colleges over pro-Palestinian protests and antisemitism. Texas A&M University, which also has a branch in Qatar, canceled its contract last year and will close by 2028.

Georgetown’s Qatar campus, which offers foreign service degrees, has expanded from 25 students in 2005 to around 500 today, Bloomberg reported. Six US universities operate in Qatar’s Education City — a project backed by a foundation established by the Emir’s mother — including Carnegie Mellon, Northwestern, and Cornell’s medical school. Qatar is currently negotiating contract renewals with Carnegie Mellon and Northwestern.

Saudi space sector ready for take off

The size of Saudi Arabia’s space economy, which is expected to grow to $31.6 billion by 2035. The kingdom is accelerating investment in the sector as it pursues new industries to diversify its economy. Saudi’s Communications, Space, and Technology Commission said in a report that key areas of focus include “satellite communications and navigation, rocket manufacturing and launch services, and satellite-based Earth monitoring.”

Other Gulf countries are also bullish on space. The UAE’s $200 million Hope Probe reached Mars orbit in 2021 — an accomplishment only China, the EU, India, Russia, and the US have achieved — and Oman is planning to launch five rockets from its new spaceport this year.

Oman expands port to meet growing demand

Oman’s largest port is looking to attract $5 billion in investment, part of a broader push by the Gulf to build out the logistics for more international trade. The Sohar Port and Freezone — which is nearing its current capacity — plans to increase annual throughput to more than 2.5 million tons of cargo. The free zone on the Arabian Gulf in the north of the sultanate has attracted investment worth $30 billion to date. Meanwhile, DP World is strengthening its links to India with the construction of Bharat Mart, a sprawling marketplace in Dubai’s Jebel Ali for Indian businesses to ply and store their wares.

Carlos Cuerpo, Minister for Economy, Trade and Business, Spain; Valdis Dombrovskis, EU Commissioner for Economy & Productivity; Ken Griffin, Founder & CEO, Citadel; Éric Lombard, Minister of Economy and Finance, France; Ted Sarandos, Co-CEO, Netflix; David Schwimmer, CEO, London Stock Exchange Group, and more will join The Future of Global Finance session at the 2025 World Economy Summit. As private credit expands, consumer perspectives shift, and inflation remains stubborn, this session will examine how leaders are responding to the evolving global financial landscape and its risks and opportunities.

April 23, 2025 | Washington, DC | Learn More

Technology

• The UAE will use artificial intelligence to create laws. The country expects that the new system will allow for more rapid lawmaking thanks to AI’s ability to take in large amounts of data, as well as easier monitoring of existing laws.
• Classified ads platform Dubizzle Group acquired Property Monitor, a UAE real estate data provider used by agents and developers. Dubizzle — which achieved unicorn status in 2020 after a funding round led by Jared Kushner’s Affinity Partners — plans to raise between $500 million and $1 billion in an IPO.

Diplomacy

• Saudi Arabia reportedly plans to pay off Syria’s debt to the World Bank. The total: $15 million — you read that right, million. Eliminating the arrears would qualify Damascus for new grants and assistance from the institution, and marks the first known financial support from the kingdom to Syria following the toppling of the Assad regime. — Reuters

Sovereign Wealth

• Qatar and Indonesia will go Dutch on investments in the Southeast Asian country with a new $4 billion joint fund. Danantara Indonesia and Qatar Investment Authority are each putting $2 billion toward sectors like food, energy security, digital infrastructure, health care, and tourism. — AGBI

A major project in Saudi Arabia has just earned a superlative few would care to boast about: a Guinness World Record for the “largest construction safety lesson.” (Companies and individuals pay Guinness to be added to its register.) Diriyah — the PIF-backed company developing a $63-billion residential, tourist, and cultural district on the outskirts of Riyadh — gathered 2,864 workers for the 30-minute session, building a dedicated outdoor venue for the event.

Beyond bragging rights — which will likely creep into executive talking points for months and years to come — the exercise signals a greater focus on employee welfare. The kingdom, set to become the world’s biggest construction market by 2028, is facing increased scrutiny by rights activists as it builds out infrastructure for the 2034 men’s soccer World Cup and other global events.

Normally, the X account named “Walter Bloomberg” is a mild nuisance for Bloomberg, Semafor’s Max Tani writes. The massive international finance data and media company has at times tried fruitlessly to find the owner of the account, which coasts off Bloomberg’s name for clicks, and to revoke their terminal access. But in 2025, someone like “Walter” can shake Wall Street.

Last week, Bloomberg’s main rivals fell for a “Walter Bloomberg” post that claimed, apparently out of thin air, that US President Donald Trump would pause the tariffs that had just crushed global markets.

The fracas sparked some $2.5 trillion worth of market moves, as investors reacted to what they (or some automatic models) assumed was a genuine Bloomberg scoop.