Weekly Digest
Saudi-UAE Officials Unite Online, Iran War Costs Squeeze Gulf’s Protein, Kuwaitis Cut Down AC Use to Save Electricity.
Geopolitics
“Trump pegs Saudi nuclear deal to Israel talks.” Semafor, July 23, 2026.
“Riyadh has long pegged normalization with Israel to the establishment of a Palestinian state, which Israel’s government opposes. But Iran’s attacks across the Middle East have placed the Gulf and Israel on the same side of the conflict, which could at least “make normalization easier,” Semafor’s Gulf editor wrote.”
Go Deeper: “Trump Adds New Israel Hurdle to Saudi Nuclear Deal.” WSJ, July 23, 2026.
“Yemen’s Houthis to Impose Maritime Blockade on Saudi Arabia.” Bloomberg, July 20, 2026.
“The kingdom diverted its oil supplies to key Red Sea port of Yanbu following the outbreak of the war and Iran’s effective closure of Hormuz. Those exports, which rose to a record 4.19 million barrels a day last month, have helped limit the disruption to global supplies, but the route remains fragile as it exposes tankers to the Houthi militants who have previously attacked ships in the Red Sea.”
Go Deeper: “The Houthis just announced a blockade on Saudi Arabia. What does it mean for the global economy?” Atlantic Council, July 20, 2026.
“Saudi, UAE officials use social media to signal unity after months of tension.” Reuters, July 22, 2026.
“The two Gulf heavyweights have seen their interests diverge for years on everything from oil quotas to geopolitics, with the disagreements coming into the open late last year over their support for opposing sides in the war in Yemen.”
Go Deeper: “Saudi Arabia, UAE Officials Signal Unity After Months of Tensions.” Bloomberg, July 22, 2026.
“Brent Hits $100 Again as Houthi Attacks Threaten Further Supply Squeeze.” WSJ, July 23, 2026.
“The global oil benchmark soared 7.2% to $100.82 a barrel on Thursday, its highest level since the end of May, while West Texas Intermediate futures climbed 5.8% to $91.83 a barrel. The contracts have gained more than 19% and 16%, respectively, this week.”
Go Deeper: “Oil Prices Waver as Gulf Ship Traffic Falls to Lowest Level in Months.” New York Times, July 24, 2026.
“US approves $41bn of arms sales to GCC in six months.” AGBI, July 24, 2026.
“Agreements announced by the State Department from January until the end of June reached $41 billion, compared with $9 billion for all of last year. The total is higher still when expansions to previously announced deals are included.”
Go Deeper: “The Gulf States Need Better Defense Integration, Not More Weapons.” Gulf International Forum, Jun 2, 2026.
Market, Economy, and Local News
“Kuwait Sells $6 Billion of Bonds Despite Iran Strikes.” Bloomberg, July 22, 2026.
“Investor orders for the Gulf Arab country’s three-part dollar deal reached about $14.8 billion at final terms, allowing it to tighten spreads by 25 basis points across all tranches from the initial price talk, according to a person familiar with the matter.”
Go Deeper: “Kuwait: 2025 Article IV Consultation-Press Release; and Staff Report.” IMF, Feb 24, 2026.
“UAE Doubles Down on $1.4 Trillion US Pledge, Faults EU on Trade.” Bloomberg, July 23, 2026.
“The United Arab Emirates says it’s ahead of schedule with a plan to invest $1.4 trillion in the US over the next decade, and criticized the European Union for stalling trade talks.”
Go Deeper: “Staff warned of major security risks from giving UAE new tech access. The White House went ahead anyway.” Politico, July 22, 2026.
“Buyers to press Qatar, UAE for cheaper, more flexible LNG deals after Hormuz shock.” Reuters, July 23, 2026.
“Qatar’s vast reserves helped the country become the dominant force in the global gas market. It and the neighbouring UAE, where production volumes are increasing, account for around one-fifth of global LNG export capacity - all of which relies on the strait to reach global markets.”
Go Deeper: “Price volatility: A double-edged sword for the LNG industry.” IEEFA, July 21, 2026.
“Abu Dhabi National Oil Company invests in $6.2B domestic gas project,” Semafor, July 21, 2026.
“The project is expected to produce more than 600 million cubic feet of gas a day from 2030, equivalent to almost 10% of the UAE’s current daily consumption.”
Go Deeper: “Abu Dhabi’s national oil company is committing $6.2 billion to a massive offshore gas field.” Quartz, July 21, 2026.
“DP World plans two ports in booming Fujairah.” July 23, 2026.
“The war has been a windfall for Fujairah, which has favorable access to the Indian Ocean outside Gulf waters — the UAE’s six other emirates largely sit within the Strait of Hormuz. An overground logistics network will link DP World’s flagship terminal in Dubai with the new ports in Fujairah, the company said, emphasizing the emirate’s growing importance as a maritime gateway.”
Go Deeper: “Dubai’s DP World to Build Two New Terminals on U.A.E. East Coast, Bypassing Hormuz.” WSJ, July 23, 2026.
“Blackstone plans Dubai office as it eyes further Gulf expansion, sources say.” Reuters, July 24, 2026.
“Since the beginning of the conflict, Blackstone has announced a deal with Dubai’s DAE for a joint aircraft leasing investment programme and has invested $250 million in a UAE-based payments and data intelligence technology platform.”
Go Deeper: “Lessons from business leaders in Dubai: How to continue operating during a conflict.” World Economic Forum, May 1, 2026.
“Iran war costs squeeze Gulf’s protein boom.” Semafor, July 24, 2026.
“Gulf consumers have long embraced the global protein craze, but the Iran conflict is squeezing the margins of food companies seeking to profit from the trend. Riyadh-based National Agricultural Development Co., better known for its dairy brand Nadec, doubled sales in its protein segment, helping lift second-quarter revenue by 5.5%. But profit for the period fell 44% as higher feed and shipping costs erased those gains.”
“King Salman appoints new ministers, reshuffles cabinet.” Al Arabiya, July 11, 2026.
“King Salman appointed Ihsan bin Abbas bin Hamza Bafaqih Secretary of Jeddah Governorate, Abdullah al-Dahim as Deputy Governor of the Saudi Central Bank for Executive Affairs, and Talal al-Hamoud as Deputy Governor of the Saudi Central Bank for Technical Affairs.”
Go Deeper: “Saudi Arabia adds industry, mineral resources portfolio to Energy Minister Prince Abdulaziz’s role.” Reuters, July 11, 2026.
“Middle East Green Initiative targets 35.4 billion trees, 99.4 million hectares of land restoration.” Saudi Gazette, July 23, 2026.
“Member states of the Middle East Green Initiative aim to plant 35.4 billion trees and rehabilitate 99.4 million hectares of degraded land, the initiative’s Executive Committee said during its 20th meeting.”
Go Deeper: Adel M. Ghanem, Yosef A. Alamri “The impact of the green Middle East initiative on sustainable development in the Kingdom of Saudi Arabia” Journal of the Saudi Society of Agricultural Sciences, Volume 22, Issue 1, 2023.
“DEWA expands power grid with $2.7bln transmission investment.” Zawya, July 23, 2026.
“Announcing this, Managing Director and CEO Saeed Mohammed Al Tayer said Dewa commissioned eight 132-kilovolt (kV) transmission substations in the first half of 2026 with a combined conversion capacity of 1,200 megavolt-amperes (MVA). The projects included 20 km of transmission cables, worth AED970 million.”
Go Deeper: “Gulf Energy Transition Through Renewable Energy Development.” Baker Institute, February 26, 2026.
“Malaysia May Again Host Formula One Racing With Bahrain in Doubt.” Bloomberg, July 24, 2026.
“The Bahrain Grand Prix was supposed to be held in April this year, but the contest was one of two Middle East races indefinitely postponed due to the the ongoing war between the US and Iran. Bahrain has sought to reschedule the race for early October, ESPN reported on Thursday, citing unidentified sources, but uncertainty persists due to fresh escalation of the conflict this month.”
“Kuwaitis cut down AC use in peak summer to save electricity as Iran hits power grid.” Khaleej Times, July 21, 2026.
“Kuwaiti authorities have called on the public to consume less energy so that they can maintain round-the-clock electricity as the grid comes under Iranian attack. Nasser Al Dhafiri, a civil servant in his forties, described “immense psychological pressure” on ordinary people as the attacks sparked fears of electricity outages.”