{"id":114250,"date":"2026-04-17T00:00:00","date_gmt":"2026-04-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?post_type=issue&#038;p=114250"},"modified":"2026-04-17T07:05:11","modified_gmt":"2026-04-17T07:05:11","slug":"hands-out-of-the-piggy-bank","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/menaplus\/issues\/hands-out-of-the-piggy-bank\/","title":{"rendered":"Hands out of the piggy bank"},"content":{"rendered":"<section id=\"114252\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114252\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">OPENING NOTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/\">\r\n                            The Donald says the war is \u201cvery close to over\u201d                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Trump says war is \u201cvery close to over\u201d&url=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/&title=Trump says war is \u201cvery close to over\u201d\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Trump+says+war+is+%E2%80%9Cvery+close+to+over%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F04%2F17%2Ftrump-says-war-is-very-close-to-over%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/trump-says-war-is-very-close-to-over\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114252\" class=\"content-area-description single-story post-114252 post type-post status-publish format-standard hentry category-opening-note tag-enterpriseam tag-geopolitics tag-opening-note wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and happy FRIDAY to you all. <\/strong>We\u2019re going to jinx it if we say it aloud, but this morning\u2019s issue makes us feel as if we\u2019re (inching? crawling?) toward normalcy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Donald says the war is \u201cvery close to over\u201d<\/strong> (stop us if you\u2019re heard that one before) and kids in Dubai are heading back to the classroom on Monday, to the immense relief of parents across the city. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The counterpoint: <\/strong>The US blockade of Hormuz is \u201cfully implemented,\u201d the US Central Command said overnight, and chatter across the region is that we\u2019re months away from a permanent ceasefire agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the stack today: <\/strong>Saudi Arabia\u2019s PIF is pushing ahead with a big recalibration that will test whether international businesses came to town to invest or to simply put their hand in MbS\u2019 piggy bank \u2014 and the war premium is fading in the regional debt markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown on both stories \u2014 and plenty more \u2014 below. See you folks back here on Monday. \u2013Patrick and Salma<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/geopolitics\/\">geopolitics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/opening-note\/\">Opening Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114253 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"114253\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/114253\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114253\" class=\"content-area-description single-story post-114253 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">You\u2019re reading EnterpriseAM MENA+<\/span><span style=\"\">, your premium briefing on <\/span><span>business, finance, economics, and public policy across the broader Middle East and adjacent high-impact markets, delivered straight to your inbox. <\/span><\/p>\n<p><span style=\"font-weight:700\">EnterpriseAM MENA+ is available without charge thanks to the generous support of our <\/span><span style=\"font-weight:700\">friends at Mashreq<\/span><span style=\"font-weight:400;\">, the most ambitious financial institution we know in our region. We\u2019re publishing Monday, Wednesday, and Friday at 12 noon UAE \/ 11am KSA \/ 10am Egypt.<\/span><\/p>\n<p><span style=\"font-weight:700\">Forwarded this email? Want your own copy? <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">You can subscribe here<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p><span style=\"font-weight:700\">Want to send us a story idea or talk shop? <\/span><span style=\"\">Reach out to us on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:UAE@enterpriseAM.com\" style=\"\">menaplus@enterpriseAM.com<\/a><\/span><span> \u2014 or just hit \u201creply\u201d to this email. <\/span><span style=\"font-weight:400;\">We read every message.<\/span><\/p>\n<\/div>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114254\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114254\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE LEDE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/pif-has-a-new-strategy-it-wants-the-business-community-to-invest\/\">\r\n                            LIV and let die?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/pif-has-a-new-strategy-it-wants-the-business-community-to-invest\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The move suggests the era of the sovereign wealth fund as the sole underwriter of Saudi Arabia\u2019s economic transformation is over.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happened:<\/strong> The fund\u2019s board of directors \u2014 chaired by MbS \u2014 <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2026\/chaired-by-hrh-crown-prince-pif-board-of-directors-approves-pif-2026-2030-strategy\/\" style=\"\">signed off on the<\/a><a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2026\/chaired-by-hrh-crown-prince-pif-board-of-directors-approves-pif-2026-2030-strategy\/\" style=\"\">2026-2030 strategy this week<\/a>, pivoting from a build-at-all-costs stance to one that demands private-sector co-investment, trims spending by 15%, and recalibrates which gigaprojects are getting built. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The potential game-changer is a SAR 70 bn (c. USD 18.7 bn) \u201cprivate-sector support <\/strong><strong>facility\u201d<\/strong> that reads a lot like a co-investment fund. It\u2019s designed to pull private investors into PIF-backed ventures, with PIF boss Yasir Al-Rumayyan framing it as an opportunity: \u201cIt offers our partners more opportunities to invest in high-quality assets and ecosystems, alongside PIF.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The official framing is pure Big Four:<\/strong> The strategy \u201cmarks a natural evolution as PIF moves from a period of rapid growth and acceleration to a new phase of sustained value creation,\u201d the fund said in a statement, with \u201ca strengthened focus on maximizing impact, raising the efficiency of investments, and applying the highest standards of governance, transparency and institutional excellence.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh has used the war in the Gulf as the impetus for a long-overdue recalibration<\/strong>. It\u2019s what the PR types call \u201ctaking out the trash\u201d \u2014 putting out news you\u2019d rather have pass quietly when folks are paying attention to something else. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been tracking this for a while now.<\/strong> Trojena \u2014 Neom\u2019s mountain ski resort once in line to host the <a target=\"_blank\" href=\"https:\/\/www.dw.com\/en\/saudis-neom-replaced-by-almaty-as-asian-winter-games-host\/a-75851615#:~:text=Why%20are%20the%202029%20Asian,of%20the%20Neom%20mega%2Dproject.\" style=\"\">2029 Asian Winter Games<\/a> \u2014 has scrapped <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/27\/another-neom-contract-canceled\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/27\/another-neom-contract-canceled\/\" style=\"\">contract<\/a> after <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/03\/30\/more-trojena-contracts-scrapped-2\/\" style=\"\">contract<\/a> in recent weeks as the fund redirects resources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al-Rumayyan <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2637870\/business-economy\" style=\"\">telegraphed the shift<\/a><\/strong><strong> last month:<\/strong> \u201cWe wanted to do most of these investments by ourselves and it\u2019s all equity. Now, we\u2019re looking into it in a greater way: How to invite people to come and work with us.\u201d That\u2019s about as close as a Saudi official gets to saying the cheque book has limits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Officials are prioritizing three types of projects:<\/strong> Projects that carry hard international commitments, like the 2034 FIFA World Cup infrastructure and the 100,000+ hotel rooms the tourism ecosystem demands. Projects that have direct impact on citizens, like the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/15\/newly-cost-conscious-saudi-is-turning-to-egyptian-builders-to-deliver-on-its-housing-ambitions\/\" style=\"\">massive housing buildout<\/a> that backs a target of 705 home ownership. And a longer-term focus on the industries of tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even in long-term priority sectors, the approach is getting more pragmatic.<\/strong> PIF\u2019s tech investment vehicle Alat has <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/10\/pif-pivots-alat-from-chip-manufacturing-to-data-center-buildout\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/10\/pif-pivots-alat-from-chip-manufacturing-to-data-center-buildout\/\" style=\"\">pivoted away from semiconductor manufacturing<\/a> toward data center buildout \u2014 a tacit acknowledgment that a chip fab built from scratch was always a stretch, while housing the AI infrastructure the world needs right now is not.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gigaprojects are going to be built in phases.<\/strong> Al-Rumayyan has recently used language first pushed a couple of years back by Finance Minister Mohammed Al-Jadaan, who suggested that the buildout should be seen as \u201c <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/04\/30\/of-modular-gigaprojects-and-a-30-year-timeline-to-rebuild-gaza\/\" style=\"\">modular<\/a>.\u201d The PIF governor <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/pif-board-approves-2026-2030-strategy-saudi-sovereign-wealth-fund-2026-04-15\/\" style=\"\">told Reuters<\/a> that The Line doesn\u2019t need to be completed by 2030 \u2014 while Neom\u2019s industrial city, Oxagon, is being brought to the front of the queue.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">What, exactly, are PIF\u2019s new priorities?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF\u2019s new strategy will divide its investments into three portfolios<\/strong> \u2014 one for strategic investments, one for managing assets, and one for global markets investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The \u201cvision\u201d portfolio cuts across six sectors<\/strong>, down from 13 in the old plan, including tourism, travel, and entertainment; urban development; advanced manufacturing; industrials and logistics; clean energy; water and renewables; and Neom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategic portfolio bucket <\/strong>includes existing <strong>national champions<\/strong> \u2014 think: telecoms powerhouse STC, ACWA Power, and Maaden \u2014 while the financial portfolio are <strong>return-seeking global investments<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Backing away from sports?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PIF\u2019s sports spending spree is getting a hard look <\/strong>after years of over-investment. PIF <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/press-releases\/2026\/pif-and-kingdom-holding-company-khc-sign-agreement-for-khc-to-acquire-70-of-al-hilal-club-company\/\" style=\"\">signed a binding agreement<\/a> yesterday that will see Prince Alwaleed bin Talal\u2019s Kingdom Holding Company buy 70% of Al Hilal football club at an enterprise value of SAR 1.4 bn (USD 370 mn). PIF Deputy Governor Yazeed Al-Humied said the move \u201caligns with PIF\u2019s strategy to maximize returns and redeploy capital within the domestic economy.\u201d PIF still holds Al Nassr, Al Ahli, and Al Ittihad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And then there\u2019s LIV Golf.<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/04\/15\/world\/middleeast\/saudi-soverign-fund-liv-golf.html\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/04\/15\/world\/middleeast\/saudi-soverign-fund-liv-golf.html\" style=\"\">New York Times<\/a>, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/76dfb7ee-ebf4-4030-8c8f-1c0c23ef5b67\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/76dfb7ee-ebf4-4030-8c8f-1c0c23ef5b67\" style=\"\">Financial Times<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/sports\/golf\/liv-golf-saudi-funding-e7c19130\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/sports\/golf\/liv-golf-saudi-funding-e7c19130\" style=\"\">Wall Street Journal<\/a> all reported in recent days that PIF is about to cut funding for the upstart league. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/golf\/liv-golf-2026-season-track-despite-reports-funding-crisis-sources-2026-04-15\/\" style=\"\">Reuters<\/a> later reported the opposite \u2014 that LIV\u2019s 2026 season remains on track with PIF\u2019s full backing. We\u2019re reading the coffee grinds against the broader strategy \u2014 a fund that\u2019s cutting capex by 15%, looking for private investors to commit capital, and selling football clubs is not one that\u2019s going to keep bankrolling a golf league that exists primarily as a geopolitical vanity project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Three questions you need to be asking<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIF\u2019s move is unquestionably the right one<\/strong> at the right time. Here\u2019s what we\u2019re keeping an eye on next:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Are international actors really willing to commit their own balance sheets to <\/strong><strong>Saudi?<\/strong> It\u2019s one thing to take MbS\u2019 money on a construction or consulting contract \u2014 and something else entirely to be asked to commit your own money to an investment in the Kingdom. The SAR 70 bn co-investment fund is designed to bring in risk-sharing partners, not just fee-seeking contractors repackaged as investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Will the domestic private sector come in off the sidelines?<\/strong> PIF\u2019s domestic co-investment push assumes homegrown businesses will put their own money in alongside the fund. After the events of 2017-2019, many big Saudi family-owned businesses stepped up their investments outside the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Will the co-investment strategy make it even harder for the Saudi private-sector to <\/strong><strong>raise debt <\/strong>for projects not linked to Vision 2030? Giga-projects have already absorbed gobs of domestic bank liquidity. Saudi firms coming into PIF-backed ventures will need to raise debt from the same pool of bank credit that the non-gigaproject private sector depends on to sell cars, make food, and tend to their own businesses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Under the 2021 strategy, PIF invested more than USD 199 bn in new domestic projects and grew AUM to more than USD 900 bn at the end of last year from USD 150 bn in 2015 a decade ago. White elephants aside, it created entire sectors from a standing start: Neom, the Red Sea Project, Qiddiya, Roshn, and Humain. With oil below USD 90, we see the recalibration as a clear sign that the royal treasury can\u2019t fund both the fiscal deficit and another round of capital-hungry giga-project buildouts.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/public-investment-fund\/\">Public Investment Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/sovereign-funds\/\">sovereign funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/the-lede\/\">The Lede<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    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src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/782.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114257\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/this-weeks-big-signal-the-uae-and-china-are-cosying-up-amid-geopolitical-tensions\/782-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/782.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"782.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/782.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/782.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114256\" class=\"content-area-description single-story post-114256 post type-post status-publish format-standard has-post-thumbnail hentry category-the-corridor tag-china tag-diplomacy tag-enterpriseam tag-investment-watch tag-investments tag-the-corridor tag-trade tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE-China ties got a big boost as Abu Dhabi Crown Prince Khaled bin Mohamed bin <\/strong><strong>Zayed Al Nahyan <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/15\/beijing-steps-up-uae-engagement-pairing-conflict-diplomacy-with-an-energy-push\/\" style=\"\">visited Beijing<\/a><\/strong><strong> earlier this week: <\/strong>We saw <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/uae\/2026\/04\/13\/sheikh-khaled-china-visit\/\" style=\"\">two dozen agreements<\/a> on hydrogen, energy storage, and EVs and an agreement to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/uae-ministry-of-investment-and-chinas-national-development-and-reform-commission-sign-mou-qxgsi6o6\" style=\"\">set up joint investment funds and platforms<\/a> to back opportunities not only in each other\u2019s markets, but in third countries. The UAE\u2019s many investment arms will also launch a China-focused investment platform. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The visit carries weight both on the geopolitical side and on timing:<\/strong> Al Nahyan is the highest-ranking Arab leader to visit China so far this year and the visit signals commitment on both sides amid a turbulent regional environment, Chinese ambassador to the UAE Zeng Jixin said in an opinions piece for <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/opinion\/comment\/2026\/04\/15\/uae-china-middle-east\/\" style=\"\">The National<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe timing of the trip was more about longer-term economics than near-term <\/strong><strong>diplomacy,\u201d<\/strong> Robert Mogielnicki, non-resident fellow for the Arab Gulf States Institute, tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s <\/strong><strong>refusal <\/strong><strong>to (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1fddd2cd-1294-4e9c-a17d-5ea06b399355?syn-25a6b1a6=1\" style=\"\">openly<\/a><\/strong><strong>) provide military support to Iran appears to have preserved its <\/strong><strong>standing with the Gulf (or at least Abu Dhabi):<\/strong> \u201cIt can safely be assumed that China holds a level of influence over Iran through its economic alliance with it, which may work out in the UAE\u2019s favor as future negotiations occur,\u201d Amandeep Ahuja, head of research at Confluence Consultants, tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART<\/strong>- China\u2019s role in brokering the 2023 Saudi-Iran normalization suggests it could shape future talks once hostilities subside, Ahuja says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not all about the war: <\/strong>Closer UAE-China ties come as the US and the EU are <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-10\/eu-and-us-near-critical-minerals-deal-to-combat-chinese-control\" style=\"\">nearing an<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-10\/eu-and-us-near-critical-minerals-deal-to-combat-chinese-control\" style=\"\">agreement<\/a> on critical supply chains that aims to reduce reliance on China and find \u201clike-minded\u201d partners to bolster supply chains, Ahuja points out. \u201cFor China and the UAE to grow closer is strategic not just in the context of the war, but also for the future,\u201d she added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US-China tensions have forced the UAE to its relationship with Beijing cautiously.<\/strong> Until now, the UAE has maintained strong ties with China on manufacturing, for example, while intentionally insulating its tech space under sharp pressure from Washington.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese firms might also have an opening in the UAE if Western firms were to pull back <\/strong><strong>in the wake of the war. <\/strong>\u201cIf leading multinationals, especially those in the tech sector, become wary of the region in the aftermath of the Iran conflict, then Chinese companies may be able to capture a greater share of the region\u2019s (potentially smaller) market,\u201d Mogielnicki <a target=\"_blank\" href=\"https:\/\/agsi.org\/analysis\/chinas-sidelining-in-the-iran-conflict\/\" style=\"\">wrote<\/a> recently. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Chinese firms don\u2019t have the risk appetite that many observers seem to think they <\/strong><strong>do<\/strong>, Mogielnicki said \u2014 they\u2019re \u201cpragmatic about regional engagement and keen to explore commercial arrangements \u2026 but not plunging into conflict zones or keen on massive geopolitical risks,\u201d he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cBeijing and China's business community prize stability in the region<\/strong>, and any serious plans for longer-term engagement are likely predicated on the calculation that some manageable form of stability will return to the Gulf,\u201d he added. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/diplomacy\/\">diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investments\/\">investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/the-corridor\/\">The Corridor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/trade\/\">Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114258\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114258\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/regional-debt-markets-edge-back-from-the-brink\/\">\r\n                            Thank you for holding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/regional-debt-markets-edge-back-from-the-brink\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-image-title=\"182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114258\" class=\"content-area-description single-story post-114258 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-debt tag-debt-watch tag-enterpriseam tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Are regional debt markets finally seeing a thaw?<\/strong> Issuers may be eyeing an exit from the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/05\/saudi-debt-issuers-hold-off-due-to-war-premium-pricing-strike\/\" style=\"\">pricing strike<\/a> as a 40-50 bps war premium that had crept into investment-grade spreads begins to unwind as the ceasefire shows signs of holding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Borrowing costs haven\u2019t fully retreated to pre-war levels<\/strong>, analysts tell EnterpriseAM, but the market has grown out of a defensive crouch into a cautious bid-only rally. <\/p>\n<p class=\"tag-border-left\">The war premium is fading<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The headline news? Spreads are narrowing: <\/strong>\u201cWe\u2019ve tightened significantly. We\u2019re not back at pre-war levels yet, but we\u2019re pretty close on high-yield and investment-grade names,\u201d Zeina Rizk, partner and portfolio manager at Amwal Capital, tells EnterpriseAM. It\u2019s a sharp reversal from early April, when Rizk told us that market jitters had made it nearly impossible to build order books without offering \u201cmeaningful concessions.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today, sentiment has flipped. <\/strong>\u201cIt looks like there is appetite in the market and cash is being put to work,\u201d Rizk says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market hasn\u2019t fully shaken off the risk:<\/strong> A 20-30 bps \u201cgeopolitical cushion\u201d remains, \u201cgiven the fragility of the situation and broader uncertainty in global rates,\u201d Sarah Alyasiri, financial strategist at CFI Financial Global \u2014 who accurately predicted that spreads would tighten quickly in a de-escalation scenario \u2014 told us.\u201d The key driver now is not just geopolitics, but also the rates backdrop,\u201d she said. Meanwhile, Rizk noted that it\u2019s too early to quantify the risk premium.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The logic is circular:<\/strong> Higher oil prices, driven by the conflict\u2019s tail-end, could keep inflation sticky, forcing central banks to delay the very rate cuts that regional issuers have been banking on for 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Call it a side door <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe haven't seen issuers come to market in a normal roadshow,\u201d <\/strong>but sovereigns are aggressively tapping private placements, Rizk tells us. In the last 10 days alone, we\u2019ve seen a flurry of investment-grade activity in Abu Dhabi, Kuwait, and Qatar that Rizk noted were \u201cflat to the curve so they did not have to pay up,\u201d adding that Egypt was slightly below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Case in point:<\/strong> Abu Dhabi has now raised <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/13\/abu-dhabi-shifts-to-private-debt-to-navigate-war-driven-market-volatility\/\" style=\"\">USD 4.5 bn through private debt placements<\/a>, with the latest USD 2 bn placement taking place this week, with a coupon of 4.6%, according to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3b927d8b-4c6b-414a-bb85-3d6070495df7?syn-25a6b1a6=1\" style=\"\">Financial Times<\/a>. The issuance was arranged by Goldman Sachs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cPrimary markets need more stability <\/strong>\u2026 I don\u2019t expect a quick rebound in issuance,\u201d Bank Nizwa\u2019s Muhammad Ahsan says, adding that primary activity \u201cwill take some more time to revive.\u201d Ahsan and Rizk agreed that clarity and durability are key for primary debt markets to reopen. <\/p>\n<p class=\"tag-border-left\">The waiting game <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is rushing back to the trough. <\/strong>While sovereigns and energy giants can move now, Saudi gigaprojects, developers and more leveraged infrastructure firms are still in wait-and-see mode, Alyasiri says. She previously identified these sectors as the \u201cmost sensitive\u201d to pricing strikes due to their reliance on phased issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The good news? They have a buffer: <\/strong>Many of these entities \u2014 corporates, banks and real estate developers \u2014 front-loaded their 2026 needs during a massive USD 27 bn issuance spree in 4Q 2025 and early this year, Ahsan previously told us. \u201c[They] are not under immediate funding pressure and prefer to delay issuance rather than lock in higher costs, so the market is reopening but in a selective and gradual way,\u201d Alyasiri said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While they wait, Plan B remains local.<\/strong> As Ahsan previously noted, the local sukuk and bond markets remain a stable avenue for fundraising when international markets are scarce. Issuers also still have access to deep bank liquidity and a growing appetite for private credit from borrowers \u201cseeking more certainty in execution,\u201d according to Alyasiri.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The most dangerous trap right now is a lack of differentiation<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Current pricing doesn\u2019t distinguish between the strong and weak quasi-sovereign <\/strong><strong>balance sheets<\/strong>, Alyasiri says. The market is currently operating on the assumption that \u201cimplicit government support\u201d is a blanket guarantee \u2014 an assumption she previously warned would be tested if global liquidity stayed tight. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe\u2019ve already seen how quickly sentiment can flip<\/strong>, a single stretch of positive news last week was enough to push markets from one-sided selling into aggressive bidding, with investors scrambling to put money to work again,\u201d Rizk told us earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A selective repricing is looming: <\/strong>\u201cWhile the ceasefire reduces immediate pressure, it does not fundamentally change the underlying risk dynamic, it just postpones it,\u201d Alyasiri said. For now, the region is enjoying a post-war honeymoon, but for the debt markets, the real price of money is still being decided. \u201cIf de-escalation holds, we could see relatively fast compression as investors re-engage with high-quality EM credit,\u201d she added. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/bonds\/\">bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/debt\/\">Debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114260\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114260\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/the-imf-sees-uneven-post-war-recoveries-as-it-revises-mena-growth-forecasts-downward\/\">\r\n                            Arrested development                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/the-imf-sees-uneven-post-war-recoveries-as-it-revises-mena-growth-forecasts-downward\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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That\u2019s a 2.6 percentage point downgrade from pre-war forecasts, driven by disruptions to oil flows, shipping, and trade reverberating through both energy exporters and importers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth across the GCC is projected to slow dramatically to 2.0% this year<\/strong>, down from a pre-war forecast of 4.3%, wide gaps between countries oil and gas production and export capacity take hits from the war. <strong>Qatar faces the steepest contraction<\/strong> (-8.6%), with its growth outlook revised down 14.7 percentage points, while Iraq\u2019s GDP is projected to contract 6.8% (revised down 10.4 percentage points). Bahrain and Kuwait are also seen ending 2026 with negative growth (albeit at far more moderate levels), while Oman, Saudi Arabia, and the UAE are all projected to hold onto growth of more than 3% despite the revisions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next year will be better:<\/strong> The IMF expects GCC growth to stage a comeback in 2027 to 4.8%, although that figure is contingent on the resumption of oil production and the reopening of the Strait of Hormuz. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Outside the GCC, oil-importing economies face a different but still-significant set of <\/strong><strong>pressures.<\/strong> Egypt, Jordan, Morocco, and Tunisia are being squeezed by higher commodity import costs, rising sovereign borrowing costs, and potential declines in remittances from workers in the GCC. Sovereign bond yields in Egypt have climbed, while the EGP lost as much as 15% of its value against the greenback (although it has recently pared some of those losses). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy subsidies among oil-importers are straining public finances<\/strong>, creating budgetary pressures at a moment when fiscal space across the region is already considerably tighter than it was before the pandemic. Morocco, whose sovereign yields have risen to around 6% since the conflict began, faces particular exposure through its tourism and transport sectors, which are among those most vulnerable to the regional volatility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things are more complicated for Lebanon:<\/strong> After recording 4.0% growth last year in what was its first meaningful recovery in years, the country\u2019s outlook for 2026 is now deeply uncertain. The IMF did not publish growth projections for Lebanon in the report. Lebanon is now reportedly in talks with the lender for a rapid financing package between USD 800 mn and USD 1 bn for budget support and humanitarian needs, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-14\/imf-lebanon-hold-talks-on-up-to-1-billion-in-rapid-financing\" style=\"\">Bloomberg<\/a> reports.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/macroeconomics\/\">macroeconomics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114262\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114262\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">MARKETS + DEALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/aldar-locks-in-usd-5-bn-hassan-allam-buys-the-epc-arm-of-the-uaes-metito\/\">\r\n                            Full deployment mode                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/aldar-locks-in-usd-5-bn-hassan-allam-buys-the-epc-arm-of-the-uaes-metito\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Juice, IHC closed out its Pakistan bank takeover, and Abu Dhabi raised another USD 4.5 bn in the private placement market (as we note in this morning\u2019s Debt Watch, above) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Aldar Properties locked in an AED 5 bn sustainability-linked revolving credit facility<\/strong> with a five-year tenor, senior unsecured, across AED, USD, and shariah-compliant tranches backed by ten local, regional, and Asian banks, per a <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/115572.pdf\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/115572.pdf\">bourse filing (pdf)<\/a>. The facility pushes <strong>Aldar<\/strong>\u2018s total liquidity to AED 38.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Egypt\u2019s Hassan Allam Holding acquired MetiPro, the engineering, procurement, and <\/strong><strong>construction (EPC) arm of UAE\u2019s Metito<\/strong> for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/758.pdf\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/758.pdf\">press release (pdf)<\/a>. The deal creates what the two companies are calling a \u201cscaled, integrated platform\u201d in water and wastewater \u2014 a high-demand niche given the Gulf desalination build-out and broader MENA water stress. The move enhances Hassan Allam\u2019s already strong position in the market as it looks to chase new mega-projects across the Middle East, Africa, Eastern Europe, and the CIS.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>State-owned Saudi Electricity Company has picked up a minority stake in UK utility <\/strong><strong>software provider <\/strong><strong>Kraken<\/strong>, which was <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-29\/origin-says-kraken-valued-at-8-65-billion-after-equity-raise\"><\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-29\/origin-says-kraken-valued-at-8-65-billion-after-equity-raise\">valued at USD 8.7 bn<\/a> late last year. The transaction paves the way for a regional JV that will migrate SEC\u2018s 11 mn customer accounts onto Kraken\u2019s platform, <a target=\"_blank\" href=\"https:\/\/news.sky.com\/story\/mark-kleinman-blog-see-the-latest-stories-from-sky-news-city-editor-13475361?postid=11514214#liveblog-body\"><\/a><a target=\"_blank\" href=\"https:\/\/news.sky.com\/story\/mark-kleinman-blog-see-the-latest-stories-from-sky-news-city-editor-13475361?postid=11514214#liveblog-body\">Sky News<\/a> reports. It\u2019s a capability buy timed to the Kingdom\u2019s renewables ramp-up as the utility looks to deepen its ability to optimize the grid as intermittent solar and wind power becomes a bigger feature of its energy mix. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EasyJet is the latest low-cost carrier to set up shop in Morocco, with the airline<\/strong><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/128674\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A5%D9%8A%D8%B2%D9%8A-%D8%AC%D8%AA-%D8%AA%D8%B6%D8%AE-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\"><\/a> <strong><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/128674\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A5%D9%8A%D8%B2%D9%8A-%D8%AC%D8%AA-%D8%AA%D8%B6%D8%AE-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\">investing<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/128674\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A5%D9%8A%D8%B2%D9%8A-%D8%AC%D8%AA-%D8%AA%D8%B6%D8%AE-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\">USD 250-300 mn<\/a><\/strong> in its <a target=\"_blank\" href=\"https:\/\/www.easyjet.com\/en\/news\/story\/easyjet-marks-major-morocco-expansion-with-marrakech-base-launch-adding-6-new-routes-and-year-round-connectivity-on-existing-routes\">first African base in Marrakech<\/a>. Morocco will be EasyJet\u2018s first full-fledged operating hub outside Europe, anchoring an additional six routes to Europe from this coming winter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EasyJet\u2019s investment in Morocco follows in the footsteps of other low-cost carriers<\/strong>, <a target=\"_blank\" href=\"https:\/\/corporate.ryanair.com\/news\/ryanair-opens-fifth-moroccan-base-in-rabat\/\"><\/a><a target=\"_blank\" href=\"https:\/\/corporate.ryanair.com\/news\/ryanair-opens-fifth-moroccan-base-in-rabat\/\">including Ryanair<\/a>, as they take advantage of the Kingdom\u2019s Open Skies policy. Morocco\u2019s aviation landscape was fundamentally reshaped after the <a target=\"_blank\" href=\"https:\/\/eur-lex.europa.eu\/EN\/legal-content\/summary\/euro-mediterranean-aviation-agreement-between-the-eu-and-morocco.html\"><\/a><a target=\"_blank\" href=\"https:\/\/eur-lex.europa.eu\/EN\/legal-content\/summary\/euro-mediterranean-aviation-agreement-between-the-eu-and-morocco.html\">2006 Euro-Mediterranean Aviation Agreement<\/a> \u2014 the first \u201cOpen Skies\u201d treaty between the EU and a non-European state \u2014 which reciprocally removed capacity and pricing restrictions between Morocco and the bloc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ALSO WORTH KNOWING<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Abu Dhabi\u2019s International Holding Company (IHC)<\/strong> sealed its acquisition of a majority stake in Pakistan\u2019s <strong>First Women Bank<\/strong>, securing regulatory clearance for the state-led privatization takeover, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/738.pdf\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/738.pdf\">bourse disclosure (pdf)<\/a>. The move builds on <strong>IHC<\/strong>\u2018s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/20\/ihc-buys-a-majority-stake-in-pakistans-first-women-bank\/\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/20\/ihc-buys-a-majority-stake-in-pakistans-first-women-bank\/\">initial moves last October<\/a>. No transaction value disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The Central Bank of Libya<\/strong><a target=\"_blank\" href=\"https:\/\/cbl.gov.ly\/%D8%A5%D8%B9%D9%84%D8%A7%D9%86-27\/\"><\/a><a target=\"_blank\" href=\"https:\/\/cbl.gov.ly\/%D8%A5%D8%B9%D9%84%D8%A7%D9%86-27\/\">issued<\/a> LYD 10 mn (c.USD 1.58 mn) of unrestricted mudaraba sukuk across 91-, 182-, and 365-day maturities, carrying coupons of 5.5-7.5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Abu Dhabi\u2019s Emirates International Investment Company (EIIC)<\/strong> picked up a minority stake in Copenhagen-born coffee-and-juice chain <strong>Joe &amp; The Juice<\/strong> at a USD 1.8 bn valuation, per a <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/115573.pdf\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/115573.pdf\">press release (pdf)<\/a>. General Atlantic remains majority owner \u2014 EIIC brings regional retail scale to the brand\u2019s international rollout.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Shuaa Capital<\/strong> and <strong>Gate Capital<\/strong> are partnering on an alternative investment fund that aims to consolidate Saudi Arabia\u2019s fragmented fuel retail sector, per their <a target=\"_blank\" href=\"https:\/\/www.shuaa.com\/shuaa-capital-and-gate-capital-join-forces-to-launch-the-first-saudi-fuel-retail-champion-platform\"><\/a><a target=\"_blank\" href=\"https:\/\/www.shuaa.com\/shuaa-capital-and-gate-capital-join-forces-to-launch-the-first-saudi-fuel-retail-champion-platform\">press release<\/a>. The platform will anchor with an initial operator acquisition before rolling up smaller players into a 500-station nationwide network \u2014 a textbook PE consolidation play in a sector that\u2019s short on scale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Homegrown Ventures<\/strong> closed an oversubscribed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/15\/homegrown-ventures-raises-usd-22-8-mn-to-back-mena-consumer-brands\/\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/15\/homegrown-ventures-raises-usd-22-8-mn-to-back-mena-consumer-brands\/\">USD 22.8 mn fund<\/a> to back \u201cbetter-for-you\u201d MENA consumer brands, betting the post-pandemic shift toward local, purpose-driven FMCG is structural rather than a blip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Egyptian SME fintech <strong>Invia<\/strong> raised USD 1.2 mn from angels and strategics to scale its voice- and text-based bookkeeping and inventory platform, founded by former <strong>Beltone<\/strong> SME executives, per a <a target=\"_blank\" href=\"https:\/\/waya.media\/cairo-based-fintech-invia-raises-usd-1-2m-rebuilding-financial-infrastructure-for-egypts-smes\/\"><\/a><a target=\"_blank\" href=\"https:\/\/waya.media\/cairo-based-fintech-invia-raises-usd-1-2m-rebuilding-financial-infrastructure-for-egypts-smes\/\">press release<\/a>. The play: replace bulky, expensive ERP systems with lightweight tech for small and micro-businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">\n<p class=\"tag-border-left\"> Market Snapshot<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> -0.30% \u2022 <strong>ADX<\/strong> 0.26% \u2022 <strong>DFM<\/strong> 1.36% \u2022 <strong>EGX30<\/strong> 1.39%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Brent USD 99.33 \/ bbl \u2022 Gold USD 4,793 \/ oz \u2022 USD \/ SAR 3.75 \u2022 USD \/ EGP 51.81<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/easyjet\/\">EasyJet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/eiic\/\">EIIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/hassan-allam\/\">Hassan Allam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ihc\/\">IHC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/joe-the-juice\/\">Joe &amp; The Juice<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/markets-deals\/\">Markets + Deals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/metito\/\">Metito<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/saudi-electricity-company\/\">Saudi Electricity Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114263\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114263\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Regulation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/how-the-cma-is-redrawing-the-rules-for-virtual-assets-and-what-comes-next\/\">\r\n                            Unpacking the UAE\u2019s new crypto rulebook                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/how-the-cma-is-redrawing-the-rules-for-virtual-assets-and-what-comes-next\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The framework \u201cwill bring more firms within licensing requirements,\u201d particularly those whose models were previously only indirectly captured, such as advisory or portfolio management, a CMA spokesperson told EnterpriseAM in an emailed statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The broader principle is one of equivalence:<\/strong> The CMA is moving toward a \u201csame activity, same risk, same regulatory outcome\u201d approach, meaning firms performing functions comparable to traditional finance will face equivalent scrutiny regardless of the technology involved. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One key shift is how tokenized assets are treated. <\/strong>\u201cNot everything that uses DLT [distributed ledger technology] will automatically fall under the VA regime,\u201d the CMA noted, stressing that firms must assess the legal nature of the instrument and not just the technology. That should drive \u201cmore disciplined classification\u201d and closer coordination with regulators before products are launched.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a one-year grace period running to 27 February 2027, but it\u2019s not a pass. <\/strong>The CMA said firms \u201cshould pay close attention to the transition arrangements,\u201d which will determine how existing business models are treated, with circulars already issued outlining the impact on applicants and license holders.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/crypto\/\">crypto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/regulation\/\">Regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/tech\/\">TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114265\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114265\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/\">\r\n                            From road to rail                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE, Jordan to form joint company for the Aqaba rail project&url=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/&title=UAE, Jordan to form joint company for the Aqaba rail project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE%2C+Jordan+to+form+joint+company+for+the+Aqaba+rail+project+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F04%2F17%2Fuae-jordan-to-form-joint-company-for-the-aqaba-rail-project%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/838.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114266\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/uae-jordan-to-form-joint-company-for-the-aqaba-rail-project\/838-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/838.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"838.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/838.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/838.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114265\" class=\"content-area-description single-story post-114265 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-jordan tag-logistics tag-ports tag-rail tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"tag-border-left\">UAE, Jordan push ahead with mine-to-port rail project<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE and Jordan inked agreements to push ahead with the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/05\/uae-jordan-ink-usd-2-3-bn-railway-project\/\" style=\"\">USD 2.3 bn Aqaba railway<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/05\/uae-jordan-ink-usd-2-3-bn-railway-project\/\" style=\"\">project<\/a><\/strong> connecting Jordan\u2019s port of Aqaba with the Al Shidiya and Ghor es-Safi mining regions, UAE state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/bzq8zwl-%D9%85%D9%86%D8%B5%D9%88%D8%B1-%D8%A8%D9%86-%D8%B2%D8%A7%D9%8A%D8%AF-%D9%88%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86%D9%8A-%D9%8A%D8%B4%D9%87%D8%AF%D8%A7%D9%86-%D8%AA%D9%88%D9%82%D9%8A%D8%B9\" style=\"\">Wam<\/a> reports. The partnership will see the establishment of the UAE-Jordan Railway Company to develop and operate the 360-km railway project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project is intended to shift bulk mineral transport off roads and onto rails<\/strong>, cutting transportation costs and streamlining logistics. The network is expected to transport about 13 mn tons of phosphate and 2.6 mn tons of potash annually. Financial close is expected in early 2027, and construction is estimated to take five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jordan\u2019s Investment Ministry said the railway is part of a broader USD 5.5 bn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.moin.gov.jo\/En\/NewsDetails\/Jordan_UAE_ink_23_billion_railway_investment_project\" style=\"\">package<\/a><\/strong> agreed with the UAE in late 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">High tide for German business interest in Morocco<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A handful of German companies are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.moroccoworldnews.com\/2026\/04\/287322\/german-firms-expand-morocco-investments-across-logistics-pharma-auto-and-ai\/\" style=\"\">eyeing<\/a><\/strong><strong> new investment in Morocco<\/strong> across logistics, pharma, automotive, software, and AI. <a target=\"_blank\" href=\"https:\/\/www.dachser.com\/en\/\" style=\"\">Dachser<\/a> is opening a new large-scale facility in Tangier to bolster supply chain services for a growing industrial sector in the north, while <a target=\"_blank\" href=\"https:\/\/www.bayer.com\/en\/\" style=\"\">Bayer<\/a> launched a new production line at its Nouaceur facility. <a target=\"_blank\" href=\"https:\/\/www.leoni-germany.com\/en\" style=\"\">Leoni<\/a> is also expanding its staffing to meet surging demand for EV wiring from European markets, and digital firm <a target=\"_blank\" href=\"https:\/\/energie-noire.com\/\" style=\"\">Energie Noire<\/a> is launching new software and AI hubs in Casablanca and Khouribga. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Back to the skies <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Regional airlines are gradually resuming normal operations<\/strong>, following a <a target=\"_blank\" href=\"https:\/\/www.flightradar24.com\/data\/statistics\" style=\"\">stretch of<\/a><a target=\"_blank\" href=\"https:\/\/www.flightradar24.com\/data\/statistics\" style=\"\">inconsistency<\/a> due to the conflict and intermittent closures of airspaces. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hitting \u201creset\u201d: <\/strong><a target=\"_blank\" href=\"https:\/\/www.gulfair.com\/Network\" style=\"\">Gulf Air<\/a>, <a target=\"_blank\" href=\"https:\/\/x.com\/qatarairways\/status\/2039243777366192622?s=20\" style=\"\">Qatar Airways<\/a>, <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/reel\/DW9b1SpkQ8S\/\" style=\"\">Emirates<\/a>, and <a target=\"_blank\" href=\"https:\/\/x.com\/omanair\/status\/2044018624961360375?s=20\" style=\"\">Oman Air<\/a> are all in various stages of phased restarts and flight increases, with most carriers targeting near-full network recovery by mid-May. <a target=\"_blank\" href=\"https:\/\/x.com\/flynas\/status\/2044141966049300528?s=20\" style=\"\">Flynas<\/a> will operate a limited number of flights between Riyadh and Damascus from next Sunday, while <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/DXL_fQ4iHH2\/\" style=\"\">Flydubai<\/a> will resume flights to Beirut on Saturday, following the lead of Royal Jordanian, Qatar Airways, and Iraqi Airways. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EGYPTAIR\/\" style=\"\">EgyptAir<\/a><\/strong> <strong> resumed daily flights to several Gulf cities<\/strong> and launched daily services to Erbil and Baghdad last Tuesday, though destinations like Kuwait, Qatar, and Bahrain remain suspended pending permits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A handful of gaps remain, including Qatar and Kuwait air spaces remaining closed to <\/strong><strong>transit carriers<\/strong>, with several carriers continuing to suspend routes to both countries pending permits. The European Union Aviation Safety Agency (EASA) also extended its advisory to avoid airspace over Iran, Israel and parts of the Gulf until 24 April. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/logistics\/\">LOGISTICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ports\/\">PORTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/rail\/\">RAIL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114267\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"114267\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/\">\r\n                            Qatar could extend force majeure on gas beyond June, Edison says                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Qatar could extend FM on gas beyond June, Edison says&url=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/&title=Qatar could extend FM on gas beyond June, Edison says\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Qatar+could+extend+FM+on+gas+beyond+June%2C+Edison+says+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F04%2F17%2Fqatar-could-extend-fm-on-gas-beyond-june-edison-says%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/840.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"114268\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/qatar-could-extend-fm-on-gas-beyond-june-edison-says\/840-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/840.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"840.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/840.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/840.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114267\" class=\"content-area-description single-story post-114267 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking tag-energy tag-enterpriseam tag-oil-gas tag-qatar tag-what-were-tracking wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Italian gas importer Edison <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/edison-says-qatar-may-extend-gas-force-majeure-sees-us-lng-filling-gap-2026-04-15\/\" style=\"\">is penciling in<\/a><\/strong><strong> potential long-term disruptions to <\/strong><strong>QatarEnergy\u2019s ability to fulfill LNG exports<\/strong> and is looking west to the US to plug the gap. QatarEnergy \u2014 which has a long-term contract to supply Edison with 6.4 mn cbm of LNG annually \u2014 has already canceled 10 cargoes to Edison, declaring force majeure due to Iran\u2019s attacks on its facilities. The force majeure could now extend beyond mid-June as the Qatari energy company works to restore its affected capacity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking a harder line on corruption in Libya\u2019s oil sector: <\/strong>The Libyan government is trying to send the right signals to international investors about corruption that has plagued its oil and gas sector for over a decade. The latest signal came from the Tripoli Court of Appeals, which <a target=\"_blank\" href=\"https:\/\/libyaobserver.ly\/news\/10-year-prison-sentence-and-1825-billion-fine-former-noc-official-over-contract-violations\" style=\"\">sentenced<\/a> a former marketing executive at the National Oil Corporation (NOC) for 10 years in prison and a fine of USD 1.8 bn over contracting irregularities during his tenure from 2010-2017.<\/p>\n<p><strong>IN CONTEXT-<\/strong> This comes two weeks after the Prime Minister of the Tripoli-based government Abdel Hamid Aldabaiba ordered the termination of a development agreement between the NOC-owned Arabian Gulf Oil Company and Arkenu Oil Company amid allegations of corruption. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Sign of the times<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for Chinese EVs is on the rise in the Middle East as rising oil prices weigh on <\/strong><strong>consumers.<\/strong> Chinese companies like BYD and Nio Mena <a target=\"_blank\" href=\"https:\/\/www.agbi.com\/analysis\/manufacturing\/2026\/04\/gulf-turns-to-chinese-evs-as-fuel-costs-climb\/\" style=\"\">are signaling<\/a> there\u2019s rising interest in cheaper electric models, although the anecdotal evidence does not necessarily indicate a structural shift, experts caution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are also export constraints as the Strait of Hormuz continues to disrupt supply <\/strong><strong>chains. <\/strong>We previously <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/10\/this-morning-more-force-majeure-declared-g7-iea-eye-emergency-oil-taps\/\" style=\"\">reported<\/a> that the closure has paralyzed a corridor for Japanese and South Korean used-vehicle exports, posing a significant challenge to the UAE market where most vehicles are imported as fully built-up units. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data points<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> The war in the Gulf had little-to-no effect on Saudi Arabia\u2019s annual inflation rate, which <\/strong><strong>inched up marginally<\/strong> to 1.8% in March, compared to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/03\/16\/inflation-cools-to-1-7-in-february\/\" style=\"\">1.7%<\/a> in February, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/722.pdf\" style=\"\">the latest data (pdf)<\/a> from the General Authority for Statistics (GASTAT). Despite concerns around the US-Iran conflict, there is currently \u201cno evidence of a rise in price pressures\u201d feeding through to Saudi consumers, according to an Emirates NBD note seen by EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">[wwtt4] <strong> USD 58 bn \u2014 that\u2019s the updated bill for repairing energy infrastructure across the Gulf <\/strong><strong>from war-related damage<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.rystadenergy.com\/insights\/gulf-war-repair-bill-supply-chain-equipment-crunch\" style=\"\">Rystad Energy<\/a>. Oil and gas facilities alone account for USD 30-50 bn, while non-hydrocarbon infrastructure adds further USD 3-8 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The estimate more than doubled from <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/03\/30\/today-can-rail-carry-gulf-trade-beyond-hormuz\/\" style=\"\">USD 25 bn<\/a><\/strong><strong> just three weeks ago<\/strong>, reflecting the expanded scope of damage prior to the recent ceasefire. Rystad now sets the midpoint for total restoration costs at USD 46 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/oil-gas\/\">Oil &amp; Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/what-were-tracking\/\">WHAT WE\u2019RE TRACKING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"114269\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/17\/114269\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-114269\" class=\"content-area-description single-story post-114269 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">April 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Apr<\/span><span style=\"\"> \u2014 Sinai Liberation Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28-29 Apr<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28 Apr-1 May<\/span><span style=\"\"> \u2014 Syria HiTech International ICT Exhibition. <\/span><span style=\"\">Damascus<\/span><span style=\"\">, <\/span><span style=\"font-weight:400;\">Syria <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">May 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">12 May<\/span><span style=\"\"> \u2014 Qatar Economic Forum (through 14 May).<\/span><span style=\"\"> Qatar<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">21 May<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 May<\/span><span style=\"\"> \u2014 Independence Day (public holiday, markets closed). <\/span><span style=\"\">Jordan<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">27-30 May<\/span><span style=\"\"> \u2014 Eid Al Adha (public holiday, markets closed). <\/span><span style=\"\">Region-wide<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28 May<\/span><span style=\"\"> \u2014 Saudi Aramco ex-dividend date. <\/span><span style=\"\">Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">June 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">7 June<\/span><span style=\"\"> \u2014 OPEC+ ministerial meeting. <\/span><span style=\"\">Vienna\/Virtual<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">9 June<\/span><span style=\"\"> \u2014 King Abdullah II Accession Day (public holiday, markets closed). <\/span><span style=\"\">Jordan<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">10\u201314 June <\/span><span style=\"\">\u2014 Syria Buildex International Construction Exhibition. <\/span><span style=\"\">Syria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16-17 June<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">July 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">5 July<\/span><span style=\"\"> \u2014 Independence Day (public holiday, markets closed). <\/span><span style=\"\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">9 July<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">14 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">23 July<\/span><span style=\"\"> \u2014 Revolution Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Tunisia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">28-29 July<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">30 July<\/span><span style=\"\"> \u2014 Throne Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">August 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">13 Aug<\/span><span style=\"\"> \u2014 Women\u2019s National Day. <\/span><span style=\"\">Tunisia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">20 Aug<\/span><span style=\"\"> \u2014 Revolution of the King and the People Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">20 Aug<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">21 Aug<\/span><span style=\"\"> \u2014 Youth Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Aug<\/span><span style=\"\"> \u2014 Prophet\u2019s Birthday (public holiday, markets closed) \u2014 TBD. <\/span><span style=\"font-weight:400;\">Region-wide<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">31 Aug-3 Sep<\/span><span style=\"\"> \u2014 LEAP technology conference.<\/span><span style=\"font-weight:400;\"> Saudi Arabia <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">September 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">7-9 Sep<\/span><span style=\"\"> \u2014 AIM Congress. <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15-16 Sep<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15 Sep<\/span><span style=\"\"> \u2014 <\/span><span>IMF\u2019s eighth review of Egypt\u2019s USD 8 bn EFF arrangement. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16-17 Sep<\/span><span style=\"\"> \u2014 Middle East Banking Innovation Summit. <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">23 Sep<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">24 Sep<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">30 Sep-3 Oct<\/span><span style=\"\"> \u2014 Cityscape Egypt 2026. <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">October 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">3 Oct<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">6 Oct<\/span><span style=\"\"> \u2014 Armed Forces Day (public holiday, markets closed). <\/span><span style=\"\">Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">15 Oct<\/span><span style=\"\"> \u2014 GCC Made in the Gulf Forum + Exhibition. <\/span><span style=\"\">TBD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25 Oct<\/span><span style=\"\"> \u2014 Liberation Day (public holiday, markets closed). <\/span><span style=\"\"> Libya<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">25-27 Oct<\/span><span style=\"\"> \u2014 World Investment Forum 2026. <\/span><span style=\"\">Qatar<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">26-29 Oct<\/span><span style=\"\"> \u2014 Future Investment Initiative.<\/span><span style=\"\"> Saudi Arabia<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">27-28 Oct<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">29 Oct<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">November 2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">1 Nov<\/span><span style=\"\"> \u2014 Revolution Anniversary (public holiday, markets closed). <\/span><span style=\"font-weight:400;\">Algeria<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2 Nov<\/span><span style=\"\"> \u2014 Abu Dhabi International Petroleum Exhibition + Conference (ADIPEC) opens (through 5 Nov). <\/span><span style=\"\">UAE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">6 Nov<\/span><span style=\"\"> \u2014 Green March Anniversary (public holiday, markets closed). <\/span><span style=\"\">Morocco <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">16 Nov<\/span><span style=\"\"> \u2014 Cityscape Global begins (through 19 Nov). <\/span><span style=\"font-weight:400;\">Saudi Arabia <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">December 2026<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">17 Dec<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/span> <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>More int\u2019l business investments from PIF new strategy? UAE + China cozy up | Debt markets begin to thaw | Uneven recoveries for MENA -IMF<\/p>\n","protected":false},"featured_media":114251,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-114250","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"78ceba99-681f-4f65-9f67-151c104de2f1","teaser":"More int\u2019l business investments from PIF new strategy? UAE + China cozy up | Debt markets begin to thaw | Uneven recoveries for MENA -IMF","photo_url":"https:\/\/ent.news\/2026\/4\/381.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hands out of the piggy bank - MENA+ Edition<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/menaplus\/issues\/hands-out-of-the-piggy-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hands out of the piggy bank\" \/>\n<meta property=\"og:description\" content=\"More int\u2019l business investments from PIF new strategy? 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