{"id":115550,"date":"2026-06-05T00:00:00","date_gmt":"2026-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?post_type=issue&#038;p=115550"},"modified":"2026-06-05T06:03:29","modified_gmt":"2026-06-05T06:03:29","slug":"building-bridges","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/menaplus\/issues\/building-bridges\/","title":{"rendered":"Building bridges"},"content":{"rendered":"<section id=\"115552\" 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=\"115552\">\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\/06\/05\/ai-is-next-weeks-big-story-but-you-should-keep-an-eye-on-the-mena-non-bank-financial-sector-too\/\">\r\n                            Does the MENA+ non-bank financial services industry need to go on Wegovy?                        <\/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\/06\/05\/ai-is-next-weeks-big-story-but-you-should-keep-an-eye-on-the-mena-non-bank-financial-sector-too\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/ai-is-next-weeks-big-story-but-you-should-keep-an-eye-on-the-mena-non-bank-financial-sector-too\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/355.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115553\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/ai-is-next-weeks-big-story-but-you-should-keep-an-eye-on-the-mena-non-bank-financial-sector-too\/355-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/355.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"355.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/355.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/355.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115552\" class=\"content-area-description single-story post-115552 post type-post status-publish format-standard has-post-thumbnail hentry category-opening-note tag-artificial-intelligence tag-debt-watch tag-enterpriseam tag-non-bank-financial-services 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>We\u2019re keeping an eye on two stories as we slide into the weekend. <\/strong>One is going to dominate the region\u2019s business agenda next week \u2014 the other is the sleeper on which many of us should be keeping at least one eye.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI IS THE OBVIOUS ONE <\/strong>ahead of SpaceX\u2019s USD 75 bn IPO, which is on track to dwarf Aramco\u2019s until-now world record 2019 offering. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/03\/spacexs-ipo-is-going-to-put-the-spotlight-on-ai-stocks-heres-what-that-means-for-the-big-three-gulf-players\/\" style=\"\">Humain, MGX, and QIA all have exposure to SpaceX<\/a> ; they and other regional entities have also made big bets on Anthropic, Nvidia, OpenAI, Google, and other AI stalwarts who are keeping a close eye on how things go for SpaceX. Bankers are expected to price the deal next Thursday before trading starts on 12 June, one week from today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The SpaceX numbers are breathtaking: <\/strong>Goldman Sachs predicts that SpaceX\u2019s AI revenues could grow 100x by 2030 \u2014 that\u2019s the basis for the USD 1.78 tn valuation Elon Musk is seeking for his rockets \/ AI \/ satellite \/ infrastructure company. 100x. In three-and-a-half years. No sweat, right?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also giving us the jitters: <\/strong>Up to 25% of the shares allocated in the IPO will go to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3cf5aed7-1a57-44ad-b9bc-11c779a5d2de?syn-25a6b1a6=1\" style=\"\">retail<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3cf5aed7-1a57-44ad-b9bc-11c779a5d2de?syn-25a6b1a6=1\" style=\"\">investors<\/a>, a rather skittish constituency at the best of times\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other AI stories that need to be on your radar: Anthropic<\/strong> wants a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/anthropic-urges-global-pause-in-ai-development-flags-self-improvement-risk-99cefb73\" style=\"\">global pause in AI<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/anthropic-urges-global-pause-in-ai-development-flags-self-improvement-risk-99cefb73\" style=\"\">development<\/a>, warning that AI models are getting to the point where they could start to improve without human involvement. And <strong>Apple<\/strong>\u2019s World Wide Developer Conference gets underway on Wednesday, where a revamped (and hopefully much, much smarter) AI-powered Siri is due to be unveiled <\/p>\n<p style=\"border-right-style:solid;padding:0;margin:0;border-top-width:0pt;border-right-width:0pt;line-height:1.15;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;orphans:2;widows:2;text-align:left\"><strong>THE SLEEPER- Should investors be wary of a bubble in non-bank lending in MENA+? <\/strong>Saudi Arabia\u2019s central bank has just imposed rules that require non-bank financial institutions \u2014 consumer credit providers, leasing and factoring companies, payment providers \u2014 to give <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/274.pdf\" style=\"\">five working days\u2019 notice<\/a> before any equity, convertible, or debt round, with details on size, investors, and the effect on ownership. <\/p>\n<p style=\"border-right-style:solid;padding:0;margin:0;border-top-width:0pt;border-right-width:0pt;line-height:1.15;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;orphans:2;widows:2;text-align:left\"><strong>The news comes just weeks after <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/whats-behind-egypts-consumer-finance-crackdown\/\" style=\"\">a brouhaha in Egypt over potential systemic risk from<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/whats-behind-egypts-consumer-finance-crackdown\/\" style=\"\">the rapid expansion of consumer and other non-bank credit<\/a><\/strong> roared to life on social media and the nation\u2019s still-influential nighttime talk shows. The flap seems to have died down, but the regulator there is now requiring companies packaging securitized debt to submit for review XLS files that list \u2014 item by item \u2014 every asset in the offering. <\/p>\n<p style=\"border-right-style:solid;padding:0;margin:0;border-top-width:0pt;border-right-width:0pt;line-height:1.15;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;orphans:2;widows:2;text-align:left\"><strong>Will the NBFI industry need to go on Wegovy? <\/strong>The weight-loss drug <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2026\/06\/03\/3305784\/0\/en\/wegovy-pill-launches-in-the-uae-as-novo-nordisk-expands-global-access-to-obesity-care.html\" style=\"\">just launched in<\/a><a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2026\/06\/03\/3305784\/0\/en\/wegovy-pill-launches-in-the-uae-as-novo-nordisk-expands-global-access-to-obesity-care.html\" style=\"\">pill form in the UAE<\/a>, the first global market for the new formulation. It wouldn\u2019t be particularly hard to imagine Tabby offering up a payment plan for GLP-1s when your insurance won\u2019t cover. \u2013Patrick and Salma<\/p>\n\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\/artificial-intelligence\/\">artificial intelligence<\/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\/non-bank-financial-services\/\">non-bank financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                        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href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/syrian-diaspora-investors-emerge-as-the-bridge-between-global-capital-and-post-assad-reconstruction\/\">\r\n                            Homecoming                        <\/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\/06\/05\/syrian-diaspora-investors-emerge-as-the-bridge-between-global-capital-and-post-assad-reconstruction\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/syrian-diaspora-investors-emerge-as-the-bridge-between-global-capital-and-post-assad-reconstruction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/347.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115555\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/syrian-diaspora-investors-emerge-as-the-bridge-between-global-capital-and-post-assad-reconstruction\/347-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/347.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"347.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/347.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/347.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115554\" class=\"content-area-description single-story post-115554 post type-post status-publish format-standard has-post-thumbnail hentry category-the-lede tag-enterpriseam tag-investment tag-syria tag-the-lede 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>A year and a half <\/strong><strong>after the fall of the Assad regime, the capital beginning to flow into <\/strong><strong>Syria\u2019s economy is moving largely through one channel: The Syrian diaspora.<\/strong> Syrians abroad \u2014 pairing international capital-markets experience with on-the-ground local knowledge \u2014 have become the connective tissue between Gulf and Western money and a market still short on legal certainty, banking connectivity, and the enforceable guarantees that institutional investors demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These investors are building compliance-driven, often US-structured vehicles through <\/strong><strong>which money actually moves.<\/strong> With that structure, they\u2019re able to turn a market once written off as implausible into a (very) early-stage opportunity, even as institutional capital waits on the sidelines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What looks interesting right now? <\/strong>Investors from the Gulf, Europe (<a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/13\/syrias-sanctions-era-comes-to-an-end-as-uae-iocs-eye-more-investments\/\" style=\"\">which has been working<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/13\/syrias-sanctions-era-comes-to-an-end-as-uae-iocs-eye-more-investments\/\" style=\"\">to bring Syria in from the cold<\/a>), the US, and the diaspora are kicking the tires on opportunities in logistics, F&B, infrastructure, and the rebuilding of Syrian industry. All of this is what one investor admits is an \u201cearly transition market,\u201d where interest is rising but still largely exploratory.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The early money has largely been Saudi and Qatari\u2026 <\/strong>Doha-listed Estithmar Holding reached an agreement in late April to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/29\/qatars-estithmar-holding-to-acquire-49-of-syrias-shahba-bank\/\" style=\"\">acquire 49% of Syria\u2019s Shahba Bank<\/a>, but most of the commitments so far are broad promises with plenty of political motivation: A promise of USD 2 bn in infrastructure investments from Saudi\u2019s Elaf Investment Fund, STC signaling it could commit nearly USD 1 bn to a range of telecom and AI infrastructure, and Qatar\u2019s UTC saying it could co-invest as much as USD 4 bn alongside Turkish investors, also in infrastructure. UAE money was also circling last year, but it\u2019s unclear how much that appetite has survived the outbreak of war in the Gulf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026all of that is early stage \u2014 and the diaspora is now starting to bridge the gap:<\/strong> Diaspora Syrians act as \u201cbridges between external investors and the Syrian market,\u201d Damascus-based Rafik Habbal, who founded <a target=\"_blank\" href=\"https:\/\/syrianbusinessgateway.net\/\" style=\"\">Syrian Business Gateway<\/a> in August 2025, tells EnterpriseAM. Some nationals are investing directly, while others facilitate partnerships and advisory work, he says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a familiar story: Folks in the diaspora with exposure to international markets are <\/strong><strong>helping create the right <\/strong><strong>environment to bring capital into Syria.<\/strong> Syrian-American investor Joey Laham, who left Damascus 32 years ago and built his career in private investment between New York and Miami, embodies that model. He founded the <a target=\"_blank\" href=\"https:\/\/www.syrianholding.com\/\" style=\"\">Syrian Holding Company<\/a> to mobilize private capital into Syria and says he has used it to raise more than USD 1.5 bn. Laham also helped facilitate one of the first US-linked energy deals into the country, <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/world\/syria\/syria-signs-landmark-offshore-oil-field-deal-chevron-qatari-investor-rcna257506\" style=\"\">involving Chevron<\/a>. Habbal, meanwhile, spent years in international NGOs including the World Health Organization before founding Syrian Business Gateway, and now uses that experience to position his platform as a structured point of entry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For some, it\u2019s been years in the making:<\/strong> \u201cI\u2019ve witnessed all of the crisis and all of the conflict. I\u2019ve always dreamt about my country to be similar to more stable business environments,\u201d Habbal tells us. After years of trying \u2014 and failing \u2014 to build something in that direction, he said the concept only became viable after the regime changed. \u201cWhen the old regime fell, I started to revive all of the ideas and memories I had in my mind.\u201d<\/p>\n<p class=\"tag-border-left\">Compliance and structure are the real gateway <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are pockets of appetite out there, but the binding constraint is more how the <\/strong><strong>capital moves<\/strong> \u2014 investors are focused on ensuring they operate through regulated, carefully structured vehicles. Laham runs US private-investment firm <a target=\"_blank\" href=\"https:\/\/wyndhamwealth.com\/\" style=\"\">Wyndham Wealth<\/a>, which he describes as the compliance and structuring backbone that lets Gulf and American investors participate under US regulatory standards: \u201cMy investors will not invest unless it\u2019s an American entity with American compliance.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Habbal sells the same discipline at the entry level<\/strong>, moving investors into projects \u201cin a more organized, compliant, and risk-aware way.\u201d For strategist Jafar Ibrahim, who works with the Syrian investment conglomerate <a target=\"_blank\" href=\"https:\/\/www.wahoudgroup.com\/\" style=\"\">Wahoud Group<\/a>, structure means navigating the state itself: \u201cWe work on how to interact \u2014 whether this goes to the Energy Ministry, the Syrian Investment Authority, or the Council of Ministers. Or is this a presidential decision?\u201d<\/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\">Re-engagement reset the baseline<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Trump administration\u2019s newfound openness to engaging with Syria through Gulf <\/strong><strong>partners has helped open the door <\/strong>for some would-be investors based in the west<strong>.<\/strong> During a visit to Riyadh a year ago, US President Donald Trump held talks with Syria\u2019s new leadership on reconstruction and sanctions relief \u2014 diplomacy that reframed a market Laham had long dismissed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Laham was part of that visit, where he found himself discussing reconstruction <\/strong><strong>investments with the Syrian president.<\/strong> \u201cPresident Ahmed Al Sharaa told me, \u2018Look, the Qataris are very heavily in right now and the sovereign wealth funds of the GCC are coming in, but it\u2019s going to take time. We\u2019re learning a lot from the US and the US is playing a big role right now in compliance,\u2019\u201d Laham recalls. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe biggest thing is the re-engagement with the international community.<\/strong> We are seeing Syria at Davos, in Washington, people coming to Syria,\u201d Wahoud Group\u2019s Ibrahim tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Early flows are real, if modest:<\/strong> Capital is beginning to move on the ground. SBG has helped facilitate more than USD 80 mn in deployed Syrian capital this year, with a further USD 240 mn in the pipeline across industry, F&B, and franchises, Habbal says. The through-line, Ibrahim argues, is that execution is possible and that \u201cit is ultimately Syrian capital and Syrian talent that sit at the core of getting things done on the ground.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For now, an execution gap is the defining feature of the market:<\/strong> Symbolic momentum has outpaced execution on the ground, and the gap sorts investors into tiers: Politically-backed capital, opportunistic entrants, and institutional players still waiting for guarantees. \u201cThe people that are moving in Syria are the first two,\u201d Ibrahim says. <strong>\u201cInstitutional investors are still waiting.\u201d<\/strong> Even real estate, he notes, depends less on sector appeal than on legal certainty, banking connectivity, and enforceable guarantees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIt\u2019s not quite helpful to give an image of a comfortable environment for all <\/strong><strong>stakeholders,\u201d<\/strong> Habbal agrees. But that uncertainty, he suggests, is also what makes the moment decisive: \u201cThere is work for everyone.\u201d As Ibrahim puts it: \u201cI am passionate about investment in Syria, but I want to remain a realist.\u201d<\/p>\n\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\/investment\/\">Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/syria\/\">Syria<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115556\" 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=\"115556\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/\">\r\n                            Not standing down                        <\/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\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/\" 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\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/')\">\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\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/\">\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=Hezbollah rejects ceasefire with Israel&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/\">\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\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/&title=Hezbollah rejects ceasefire with Israel\">\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=Hezbollah+rejects+ceasefire+with+Israel+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F05%2Fhezbollah-rejects-ceasefire-with-israel%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\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/350.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115557\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/hezbollah-rejects-ceasefire-with-israel\/350-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/350.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"350.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/350.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/350.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115556\" class=\"content-area-description single-story post-115556 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-enterpriseam tag-geopolitics tag-war-watch 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>An already-precarious ceasefire between Israel and Lebanon is now being <\/strong><strong>upended by Hezbollah<\/strong>, which <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-continue-operations-lebanon-now-despite-ceasefire-defence-minister-says-2026-06-04\/\" style=\"\">rejected the agreement<\/a> after not being party to the discussions. The pact was <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/us-says-israel-lebanon-agree-ceasefire-if-hezbollah-also-stops\" style=\"\">contingent on Hezbollah<\/a> laying down arms and withdrawing its fighters from southern Lebanon, but even that version of the agreement would have still allowed Israel to have boots on the ground in Lebanon, with Tel Aviv saying it was not planning to withdraw from the country. Iran has also reiterated that a cessation of Israeli violence in Lebanon and the withdrawal of its troops are prerequisites for its own ceasefire with the US and the Gulf. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fighting in the rest of the region is broadly on pause after Wednesday\u2019s bout of <\/strong><strong>attacks<\/strong>, which saw Iranian drones and missiles hitting Kuwait, Bahrain, Oman, and US vessels. Kuwait seems to have borne the brunt of that round of strikes \u2014 a drone strike on its airport killed one person and injured 60 others. The country briefly <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/135076\/%D8%AD%D8%A7%D9%84%D8%A9-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D9%8A%D9%88%D9%85-3-%D9%8A%D9%88%D9%86%D9%8A%D9%88-2026\/\" style=\"\">halted flights<\/a> on Wednesday to push through repairs at the airport. Separately, Kuwait\u2019s Foreign Ministry decided to <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/c0jfgi1-kuwait-reduces-iranian-embassy-staff-declares-two\" style=\"\">reduce the number of Iranian embassy staff<\/a> in the country and declare two Iranian diplomats PNGs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With no end in sight to the tensions, oil-exporting countries are looking for alternative exit <\/strong><strong>routes to the Strait of Hormuz.<\/strong> Adnoc is planning on building a multi-fuel pipeline to hedge against future disruptions to shipping through Hormuz, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d604f90a-3570-446b-bf05-ec2a713a9856\" style=\"\">Financial Times<\/a> quotes Executive VP for Sales and Trading Philip Khoury as saying. The pipeline will be able to export refined oil products, including gasoline, jet fuel, and diesel. Iraq is similarly looking to the Ceyhan pipeline, which runs through Kurdistan to Turkey\u2019s Ceyhan Port, with plans to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-02\/iraq-to-boost-ceyhan-oil-exports-as-hormuz-strait-remains-shut\" style=\"\">more than triple its crude exports<\/a> through the pipeline.<\/p>\n\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\/war-watch\/\">WAR WATCH<\/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=\"115558\" 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=\"115558\">\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\">Regulation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/\">\r\n                            Taxing times                        <\/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\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/\" 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\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/')\">\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\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/\">\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=Egypt pushes tax changes on natgas + revives stamp tax to shrink financing gap&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/\">\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\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/&title=Egypt pushes tax changes on natgas + revives stamp tax to shrink financing gap\">\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=Egypt+pushes+tax+changes+on+natgas+%2B+revives+stamp+tax+to+shrink+financing+gap+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F05%2Fegypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap%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\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115559\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/egypt-pushes-tax-changes-on-natgas-revives-stamp-tax-to-shrink-financing-gap\/926-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"926.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115558\" class=\"content-area-description single-story post-115558 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation tag-egypt tag-enterpriseam tag-regulation tag-regulation-watch tag-tax 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>Egypt is broadening its tax base to hit fiscal reform targets. The latest move: Cabinet <\/strong><strong>wants to strip the natural gas industry of its long-standing exemption from the value-added tax<\/strong>, having signed off on <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/88.pdf\" style=\"\">the text of a bill (pdf)<\/a> that would, if passed, see natural gas subject to a flat table tax of EGP 20 per thousand cubic feet. The bill would leave in place the industry\u2019s exemption from VAT on production machinery to four years to stimulate local manufacturing. An exemption for medical equipment would also be preserved. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fiscal play:<\/strong> The state is dismantling long-standing exemptions to hit a record <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/finmin-targets-a-28-jump-in-tax-revenues-for-fy-2026-27\/\" style=\"\">EGP 3.5 tn<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/finmin-targets-a-28-jump-in-tax-revenues-for-fy-2026-27\/\" style=\"\">(USD 68 bn) tax<\/a> revenue target for FY 2026-27 and shrink its EGP 2.7 tn (USD 52 bn) financing gap. The steady <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/03\/19\/finmin-to-issue-amendments-to-the-vat-law\/\" style=\"\">phase-out<\/a> of special tax treatments on goods like sugar, tea, professional services \u2014 and now gas \u2014 aligns with IMF recommendations to unify the standard 14% rate and eliminate market distortions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch for next: <\/strong>The bill will now move to the House of Representatives for approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A clearer tax framework for the EGX: <\/strong>The Madbouly government separately sent the House draft amendments to the stamp tax law that would replace a capital gains tax on EGX transactions with a tiered stamp tax \u2014 0.05% on market makers and blue-chip stocks and 0.1% on all other shares \u2014 according to a document seen by EnterpriseAM. Sources previously told us that we can expect the government to introduce a stamp tax on EGX transactions next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want the full story? <\/strong>Our Egypt desk <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/new-tax-bill-heads-to-house-ahead-of-july-rollout\/\" style=\"\">dove into the tax<\/a> last month in our coverage of a wider tax package that also included changes to the VAT. <\/p>\n\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\/egypt\/\">Egypt<\/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\/regulation-watch\/\">Regulation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/tax\/\">tax<\/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=\"115560\" 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=\"115560\">\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\">MARKETS + DEALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/boutiqaat-apparel-group-ready-ipos-adia-cashes-out-some-ai-gains-and-gems-is-doubling-down-on-its-home-market\/\">\r\n                            Of IPOs, AI gains, and a big investment in schools\u2026                        <\/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 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/353.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115561\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/boutiqaat-apparel-group-ready-ipos-adia-cashes-out-some-ai-gains-and-gems-is-doubling-down-on-its-home-market\/353-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/353.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"353.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/353.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/353.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115560\" class=\"content-area-description single-story post-115560 post type-post status-publish format-standard has-post-thumbnail hentry category-markets-deals tag-enterpriseam tag-investment-watch tag-ipo-watch tag-ma-watch tag-markets-deals 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>We have a mixed bag of markets news with which to send you into the weekend<\/strong>, and it\u2019s particularly nice to see IPOs at the top:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait could move ahead with another rare IPO<\/strong> as online beauty and fashion retailer Boutiqaat is reportedly in talks that could see <strong>Goldman Sachs<\/strong> take it public on Boursa Kuwait as early as 1Q 2027, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-02\/goldman-said-to-work-on-retailer-ipo-in-boost-to-its-kuwait-push\" style=\"\">Bloomberg<\/a> reports, citing people it says have knowledge of the matter. Boutiqaat is reportedly looking for a USD 1 bn valuation \u2014 double what it raised at in its 2019 funding round \u2014 which would make the retailer Kuwait\u2019s biggest-ever private sector IPO. The listing would be Goldman\u2019s first such mandate in Kuwait. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Dubai-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apparelgroup.com\/en\/\" style=\"\">Apparel Group<\/a><\/strong><strong> is in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/dubai-based-apparel-group-said-to-explore-ipo-for-india-business?srnd=phx-india-v2\" style=\"\">early discussions<\/a><\/strong><strong> with banks about a <\/strong><strong>potential Mumbai IPO of its Indian unit<\/strong>, which could go to market later this year or in early 2027. Apparel Group India gives the UAE retailer exposure to Indian consumers through more than 300 stores across more than 50 cities and over 20 brands, including Victoria\u2019s Secret, Aldo, Crocs, Charles & Keith, Tim Hortons, and Nike Littles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timing will be the main test<\/strong>, with India\u2019s IPO market cooling as companies delay listings amid Iran-war-linked volatility and foreign investor outflows from the equity market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adia just cashed out some of its AI gains:<\/strong> German gas-engine maker <strong>Innio<\/strong> \u2014 think of it as picks-and-shovels for the power-hungry data centers behind the AI boom \u2014 <a target=\"_blank\" href=\"https:\/\/www.innio.com\/en\/news-media\/press-releases\/innio-announces-pricing-of-upsized-initial-public-offering\/\" style=\"\">priced its Nasdaq IPO<\/a> at USD 27, the top of its range, raising USD 2.4 bn after strong demand saw bankers boost the number of shares on offer. The stock jumped 23% on its Nasdaq debut, valuing Innio at USD 20.7 bn. Because it was an all-secondary sale, every dollar flows to the sellers \u2014 Adia and Advent \u2014 whose joint vehicle <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2109150\/000119312526216625\/ck0002109150-20260511.htm\" style=\"\">still owns 90%<\/a> after listing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Adia is writing another large check in India \u2014 this time in its property <\/strong><strong>market. <\/strong>A wholly owned subsidiary of the Abu Dhabi sovereign wealth fund anchored a USD 1 bn investment vehicle for India\u2019s <strong>Kotak<\/strong> Alternate Asset Managers with a contribution of more than USD 675 mn, <a target=\"_blank\" href=\"https:\/\/www.cnbctv18.com\/alternative-investment-fund\/kotak-alts-final-close-of-14th-real-estate-fund-raises-dollar-1-billion-ws-el-19918709.htm\" style=\"\">CNBC TV18<\/a> reports. The vehicle is <strong>Kotak Mahindra Group<\/strong>\u2019s fourteenth real estate fund and the sixth Kotak real estate play Adia has backed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The mandate: <\/strong>The fund will focus on providing growth and development financing across residential, commercial, and other real estate segments in major Indian cities. <\/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>Dubai-based school operator Gems Education plans to invest AED 2 bn (USD 540 mn) <\/strong><strong>over the next three years<\/strong> to add 20k new student seats across Dubai and Abu Dhabi, Group CEO Dino Varkey told the Dubai Media Office (<a target=\"_blank\" href=\"https:\/\/x.com\/DXBMediaOffice\/status\/2062403175567790497\" style=\"\">watch, runtime: 4:36<\/a>). That\u2019s nearly double last year\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/03\/03\/gems-education-to-spend-usd-300-mn-on-growth-over-next-few-years\/\" style=\"\">AED 1.1 bn<\/a> (USD 300 mn) commitment, with around 75% earmarked for the affordable segment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The demand is there: <\/strong>\u201cWe continue to see growing demand from families across the world,\u201d Varkey said, calling this year one of momentum. His statement comes against a backdrop of reports of residents leaving the UAE earlier in the conflict, although since then many seem to have returned. <\/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>Emirati telco Du launched a USD 50 mn corporate venture fund with Mubadala-backed <\/strong><strong>venture capital firm Shorooq<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/241.pdf\" style=\"\">press release (pdf)<\/a>. The fund will back startups across AI, fintech, cybersecurity, cloud services, gaming, enterprise software, and customer experience technology, with a significant share earmarked for UAE-based companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strategic fit comes first:<\/strong> Startups will run through Shorooq\u2019s standard sourcing and due diligence process, with an additional filter on whether they advance du\u2019s digital ambitions, Shorooq Founding Partner Shane Shin tells EnterpriseAM. The portfolio will be built \u201cwith discipline rather than to a quota,\u201d he says. \u201cWe'll be active in the market from launch, and we'll move at the pace the right opportunities allow.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What startups get beyond funding: <\/strong>Portfolio companies will also gain access to du\u2019s distribution channels, enterprise relationships, and customer reach, Shin says. <\/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>Two GCC finance players are pushing into Oman from opposite ends of the market.<\/strong> Saudi Arabia\u2019s <strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/jadwainvestment\/\" style=\"\">Jadwa Investment<\/a><\/strong> signed an <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7467803964718317568\/\" style=\"\">MoU with<\/a> <strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7467803964718317568\/\" style=\"\">State Street<\/a><\/strong> to chase institutional clients in the Sultanate together, focused on asset servicing and global custody. State Street has run from a Muscat office for more than two decades. Even though it\u2019s an MoU, not a signed agreement, it\u2019s a sign that Oman\u2019s institutional pool may be getting deep enough to take more seriously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the retail end, Al Ansari Financial Services is buying rather than partnering.<\/strong> The UAE exchange house <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/275.pdf\" style=\"\">is<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/275.pdf\" style=\"\">taking a stake<\/a> in Muscat-based FX and remittance firm <strong>Mustafa Sultan Exchange<\/strong>. The transaction isn\u2019t big, but it\u2019s worth keeping an eye on. Al Ansari was already the GCC\u2019s largest network of its kind by branch count after it took full control last year of Bahrain\u2019s BFC Group. <\/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>Asyad buys into Uzbekistan\u2019s inland freight network:<\/strong> Oman\u2019s state-backed logistics player Asyad Group <a target=\"_blank\" href=\"https:\/\/asyad.om\/who-we-are\/media-center\/news\/2026\/06\/03\/asyad-group-expands-its-global-footprint-with-the-acquisition-of-a-controlling-stake-in-uzbekistan-s-logistics-platforms--advancing-trade-corridors---regional-connectivity-across-central-asia\" style=\"\">ac<\/a><a target=\"_blank\" href=\"https:\/\/asyad.om\/who-we-are\/media-center\/news\/2026\/06\/03\/asyad-group-expands-its-global-footprint-with-the-acquisition-of-a-controlling-stake-in-uzbekistan-s-logistics-platforms--advancing-trade-corridors---regional-connectivity-across-central-asia\" style=\"\">quired<\/a> a controlling stake in Uzbekistan\u2019s key logistics platform alongside Orient Group and the Uzbek-Oman Investment Company, according to a <a target=\"_blank\" href=\"https:\/\/asyad.om\/who-we-are\/media-center\/news\/2026\/06\/03\/asyad-group-expands-its-global-footprint-with-the-acquisition-of-a-controlling-stake-in-uzbekistan-s-logistics-platforms--advancing-trade-corridors---regional-connectivity-across-central-asia\" style=\"\">statement<\/a>. The size of the transaction was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition gives Asyad ownership of Universal Logistics Services and Highway <\/strong><strong>Logistics Center<\/strong> \u2014 both positioned within Tashkent\u2019s freight network. The two platforms handle roughly 25% of Uzbekistan\u2019s railway container traffic and hold a leading position in premium warehousing. The move gives Asyad access to rail, road, warehousing, customs clearance, and last-mile capacities from within the market.<\/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>Egypt\u2019s Ascom is closing in on a homecoming deal.<\/strong> The <strong>Qalaa Holdings<\/strong> mining arm\u2019s board <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707563.pdf\" style=\"\">appro<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707563.pdf\" style=\"\">ved a fair value study<\/a> to buy 90% of <strong>Raya Holding<\/strong>\u2018s logistics unit <strong>Ostool<\/strong> at a 30% premium to fair value. The EGO 640 mn (USD 12.4 mn) transaction will see Ostool return to the Qalaa umbrella after a six-year detour: It started life in 2010 as a Raya-Qalaa joint venture. Ascom shares rose 14% on the news. <\/p>\n<p class=\"tag-border-left\">ALSO WORTH KNOWING TODAY- <\/p>\n<p style=\"border-right-style:solid;padding:0;margin:0;border-top-width:0pt;border-right-width:0pt;line-height:1.15;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;orphans:2;widows:2;text-align:left\"><strong>India<\/strong> is moving to scrap its 12.5% long-term capital-gains tax \u2014 and possibly the 20% withholding \u2014 on foreign holdings of government bonds, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/india-scrap-capital-gains-tax-foreign-investment-government-bonds-et-reports-2026-06-04\/\" style=\"\">a<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/india-scrap-capital-gains-tax-foreign-investment-government-bonds-et-reports-2026-06-04\/\" style=\"\">bid<\/a> to draw inflows and steady the INR.<\/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\"> Market Snapshot<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul<\/strong> -0.1% \u2022 <strong>ADX<\/strong> 0.0% \u2022 <strong>DFM<\/strong> +0.6% \u2022 <strong>EGX30<\/strong> +0.2%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Brent USD 95.19 \/ bbl \u2022 Gold USD 4,505.00 \/ oz \u2022 USD \/ SAR 3.75 \u2022 USD \/ EGP 51.9 <\/p>\n\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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ipo-watch\/\">IPO WATCH<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"115562\" 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=\"115562\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/al-zour-petrochems-complex-set-to-get-un-stuck\/\">\r\n                            Kick-started                        <\/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\/06\/05\/al-zour-petrochems-complex-set-to-get-un-stuck\/\" 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 adjacent USD 10 bn petchem complex has been on ice while planners tried to pin down exact costs and feasibility. Once built, the complex is slated to produce 2.7 mn tonnes of aromatics and polypropylene per year alongside 1.7 mn tonnes of petrol \u2014 most earmarked to stay local as industrial feedstock for Kuwait\u2019s homegrown manufacturing sector. <\/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\">More homes on King Fahad Road<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi real estate developer Retal Urban Development signed a development <\/strong><strong>management agreement to develop the SAR 1.9 bn (USD 510 mn) <\/strong><strong><a target=\"_blank\" href=\"https:\/\/retal.com.sa\/en\/properties\/retal-heights\/\" style=\"\">Retal Heights<\/a><\/strong><strong> mixed-use project<\/strong> in Riyadh\u2019s Al Malqa district, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95775&anCat=1&cs=4322&locale=en\" style=\"\">Tadawul disclosure<\/a>. Retal signed the agreement with Sakan Al Malqa Real Estate Company \u2014 a fund managed by SAB Invest \u2014 and holds a 24.5% stake in the fund. The development will go up on a 19.4k sqm site along King Fahad Road, with construction set to take up to 48 months. <\/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\">Bahrain cools off<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bahrain\u2019s property market is feeling the impact of waning sentiment, with transaction <\/strong><strong>volumes dropping 27% y-o-y<\/strong> in 1Q 2026 to 2.2k, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/346.pdf\" style=\"\">data (pdf)<\/a> from Bahrain\u2019s Real Estate Regulatory Authority. Transaction values similarly fell 26% y-o-y during the quarter to BHD 284 mn (USD 753 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign buyers led the retreat, accounting for just 9% of overall transactions during the <\/strong><strong>quarter<\/strong> \u2014 down more than 3 percentage points y-o-y \u2014 while the value of transactions with foreign buyers dropped 20% y-o-y to BHD 18.6 mn. Bahraini buyers proved more resilient, with transaction volumes edging up 1.6%, though spending shifted toward lower-priced properties as purchase values fell 26%.<\/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\">Phase two <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is bringing on the second phase of Jafurah\u2019s cogeneration infrastructure<\/strong>, awarding South Korea\u2019s Kepco a power and steam sales agreement, along with a <a target=\"_blank\" href=\"https:\/\/www.doosanenerbility.com\/en\/about\/news_board_view?id=21000813&page=5&pageSize=9&\" style=\"\">c. USD 560 mn<\/a> with Doosan Enerbility, which will build the facility and supply key equipment. This project forms part of the supporting infrastructure needed to operate the broader <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/03\/01\/aramco-officially-kicks-off-gas-production-at-jafurah-processing-at-tanajib\/\" style=\"\">Jafurah gas field<\/a>. <\/p>\n<p class=\"tag-border-left\">Extended railway <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hejaz Railway all the way to Oman?<\/strong> Turkey is looking to potentially extend the long-discussed revival of the Ottoman-era Hejaz railway \u2014 which once linked Saudi Arabia to Turkey via Jordan and Syria \u2014 to Oman, Transport Minister Abdulkadir Uralo\u011flu <a target=\"_blank\" href=\"https:\/\/www.aa.com.tr\/en\/turkiye\/modern-hejaz-railway-to-create-alternative-route-to-hormuz-turkish-transport-minister-says\" style=\"\">said<\/a>. The extended railway would create a potential alternative route to the Strait of Hormuz, with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/20\/the-gcc-is-building-for-a-post-hormuz-world\/\" style=\"\">negotiations with Saudi Arabia<\/a> currently underway. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The push is part of Ankara\u2019s broader corridor strategy<\/strong>, including the 1.2k km Iraq Development Road linking Basra to the Turkish border, whose design phase is complete, and the Zangezur Corridor, where the 224 km Kars\u2013I\u011fd\u0131r\u2013Aral\u0131k\u2013Dilucu line has been tendered and construction has begun.<\/p>\n\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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/real-estate\/\">real estate<\/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=\"115564\" 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=\"115564\">\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\">WHAT WE\u2019RE TRACKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/05\/gcc-eu-trade-agreement-finally-seeing-the-light\/\">\r\n                            GCC-EU trade agreement finally seeing the light?                        <\/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\/06\/05\/gcc-eu-trade-agreement-finally-seeing-the-light\/\" 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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Meanwhile, although the headline figures were up, Kuwait, Egypt, and Lebanon all remained in contraction territory last month, with Lebanon just 0.3 points away from the 50.0 mark that separates contraction from expansion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even as the headline numbers looked better, the underlying details are more <\/strong><strong>complicated:<\/strong> In the UAE, supplier delivery times lengthened at the worst rate since April 2020, input costs rose at the second-fastest pace in nearly two years, and export orders fell across both the UAE and Saudi Arabia for a third straight month. <\/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\"><a id=\"wwtt3\"><\/a> <strong>The IMF <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/news\/articles\/2026\/06\/03\/pr26181-saudi-arabia-imf-staff-completes-2026-article-iv-mission\" style=\"\">now sees<\/a><\/strong><strong> Saudi Arabia\u2019s growth slowing to about 2% this year<\/strong>, revised down from its April forecast of 3.1% and down from the 4.5% clip recorded in 2025. The fund wrapped its 2026 Article IV mission to Riyadh on Wednesday, saying the country\u2019s economy is resilient so far, but prolonged conflict will spike risk. The IMF also sees inflation creeping up to roughly 2.3% as higher shipping and insurance costs feed through.<\/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\">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>The long-stalled GCC-EU trade agreement could be settled at a leaders\u2019 summit in Riyadh <\/strong><strong>this October<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-%D9%84-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D8%AD%D8%B3%D9%85-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%AD%D8%B1%D8%A9-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A%D8%A9-%D9%81%D9%8A-%D9%82%D9%85%D8%A9-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6-10325\" style=\"\">Aleqtisadiah<\/a> reports, citing unnamed European and Gulf sources. The shape of the agreement is also reportedly shifting \u2014 officials are now discussing a move away from a single, all-encompassing framework towards sector-specific agreements covering renewables, digital trade, and industrial supply chains. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hold-up has been the EU\u2019s insistence on bundling in non-trade matters<\/strong>, the lead negotiator for the GCC said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brussels\u2019 renewed urgency follows the conclusion of a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/21\/uk-and-gcc-finalize-multi-bn-gbp-trade-agreement\/\" style=\"\">trade agreement<\/a><\/strong><strong> with the UK<\/strong> last month to remove duties on roughly GBP 580 mn worth of UK exports to the GCC annually.<\/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\"><a id=\"wwtt2\"><\/a> <strong>Kuwait could restore 70% of its pre-war oil production within six to eight weeks of the <\/strong><strong>Strait of Hormuz reopening <\/strong>and return to full output within three months, AGBI <a target=\"_blank\" href=\"https:\/\/www.agbi.com\/oil-and-gas\/2026\/06\/kuwait-could-return-to-full-oil-production-in-three-months\/\" style=\"\">quotes<\/a> Kuwait Petroleum Company\u2019s Managing Director Shaikh Khaled Ahmad Al Sabah as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The emirate was previously producing around 2.7 mn bbl \/ d<\/strong>, with that figure falling to 1.2 mn bbl \/ d after the war broke out. Al Sabah also said Kuwait could restore full refining capacity within two to three weeks, far sooner than some analysts had projected. <\/p>\n\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\/oil-and-gas\/\">oil and gas<\/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\/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=\"115566\" 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\/06\/05\/115566\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115566\" class=\"content-area-description single-story post-115566 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\">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\">9 June <\/span><span style=\"font-weight:400;\">\u2014 Payout date for Aramco\u2019s 1Q 2026 base dividend.<\/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\">11 June<\/span><span style=\"\"> \u2014 Central Bank of Turkey monetary policy decision. <\/span><span style=\"\">Turkey<\/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\">21-24 June<\/span><span style=\"\"> \u2014 Afreximbank Annual Meetings. <\/span><span style=\"font-weight:400;\">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\">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\">2 July<\/span><span style=\"\"> \u2014 Parliamentary elections. <\/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\">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\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>How diaspora investors are bringing capital back to Syria | No Hezbollah-Israel ceasefire | Egypt\u2019s natgas tax changes | Of IPOs, AI gains, and a big investment in schools<\/p>\n","protected":false},"featured_media":115551,"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-115550","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e6a00509-ca9b-4cb5-802e-f92895a4b665","teaser":"How diaspora investors are bringing capital back to Syria | No Hezbollah-Israel ceasefire | Egypt\u2019s natgas tax changes | Of IPOs, AI gains, and a big investment in 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