Big News: #SaudiArabia Says for First Time Some Vision 2030 Projects Will Get Delayed, story with ⁦Abeer Abu-Omar⁩ A longer period is needed to “build factories, build even sufficient human resources,” Finance Minister Mohammed Al-Jadaan said in Riyadh bloomberg.com/news/articles/…

Despite very different economic dynamics, both Saudi Arabia and Argentina’s economies were in 1.1% contraction last year. The IMF says the reason Saudi GDP slipped and weighed down on the wider region is mainly because of one thing: oil. bloomberg.com/news/articles/… via Bloomberg Economics

Biggest takeaway from the IMF’s regional economic outlook for the Middle East? A $30 billion rise from last year in financing needs for emerging market and middle income economies across the Middle East and North Africa to $186 billion. bloomberg.com/news/articles/… via Bloomberg Equality

A pleasure to sit down with Abeer Abu-Omar at Investopia. The long-term trajectory of #Bitcoin is crystal clear, and SkyBridge is proud of our conviction in digital assets. bloomberg.com/news/articles/…

Probably one of the most high profile IPOs in Abu Dhabi. Read about the consideration to list Etihad here.

During the first session of Bloomberg Dialogues today, سلطان سعود القاسمي spoke about Arts and Politics in the Middle East, going into how world politics shaped artists’ work in the region. A truly captivating discussion. Special thanks to Ziad Daoud for arranging the talk.

Microsoft is taking a $1.5 billion stake in the UAE's G42 and Microsoft President Brad Smith will join G42 board. It's the latest move by G42 away from China and toward the US tech industry. bloomberg.com/news/articles/… by Abeer Abu-Omar and me

Saudi Arabia will need oil prices close to $100 to balance its budget this year, according to the IMF. Our own estimates -taking into account SWF spending- suggest Brent needs to be closer to $110 to achieve a balance. bloomberg.com/news/articles/… via Bloomberg Markets

Iranian state media appears to be downplaying a strike US officials attributed to Israel. Bloomberg's Joumanna Nasr Bercetche reports on the latest developments: trib.al/kCVG88E

Confirming an earlier Bloomberg scoop, Abu Dhabi is tapping markets for the first time since 2021 with a three-tranche bond. With current oil levels, the emirate probably doesn't need the funds but take a look why it may be raising debt now. bloomberg.com/news/articles/… via Bloomberg Markets

Cool story by Ben Bartenstein on the gatekeepers financiers need to know for access to one Abu Dhabi royal who controls a massive pile of private and state assets. bloomberg.com/news/features/… via Bloomberg

Nuggets on Dubai’s financial hub by Abeer Abu-Omar “This year is going to be our busiest year ever” says regulator which issued 112 new financial services licenses in 2023. Issuance so far this year is 50% up on last year. 27 of world’s 29 systemically important banks operate in DIFC.

According to Goldman, #Israel and #SaudiArabia have had the worst falls in sovereign-risk scores this year among emerging markets. Each because of deteriorating fiscal outlooks. For Israel, the war in Gaza. For KSA, MBS's giga-projects. bloomberg.com/news/articles/… Abeer Abu-Omar

Saudi Arabia is going through the most precarious moment in its economic transformation. Eight years, into the unveiling of Vision 2030, the plan faces delays, setbacks and overhauls. Take a look at the key stress points facing the kingdom. bloomberg.com/news/articles/… via Bloomberg Economics

Saudi Arabia got the largest IMF growth downgrade among major economies. Fund officials told us yesterday the call to cut GDP was entirely due to oil production cuts. Read more here. bloomberg.com/news/articles/… via Bloomberg Economics

Saudi Arabia will put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by 2030. Goldman estimates 73% will now be added in non-oil sectors, more than initially predicted at 66%. bloomberg.com/news/articles/… via Bloomberg Markets

3 takeaways from Saudi budget data in the 1st half of 2024: 1. Saudi needs oil at $95 to balance its budget 2. Adding domestic investments by the sovereign wealth fund, the figure rises to $112 3. Oil price is lower than that, at $77, meaning deficits will persist

BREAKING: #Lebanon ex-central bank chief Riad Salameh arrested for embezzlement: AFP reports, citing judicial official *Public prosecutor arrested Salameh after questioning him for 3 hours on suspicions of embezzlement from the central bank exceeding $40 million

A key portfolio manager at Dubai’s Magellan Capital has departed months ahead of the hedge fund’s planned $700 million launch. Story with Abeer Abu-Omar bloomberg.com/news/articles/… via Bloomberg Markets

Ostracized by the West for 25 years and saddled by a debt pile, the wooing of the United Arab Emirates by Zimbabwe President Emmerson Mnangagwa has handed the economy a lifeline. bloomberg.com/news/articles/… via Bloomberg Economics Abeer Abu-Omar