GULF WEEKLY: Saudi Arabia may pass on the 2029 Asian Winter games, Oman’s deficit continues in Q2, Bahrain awards shale exploration concession
A skimmable summary overlaid with our analysis and links. Headlines:
* The UAE and Saudi Arabia ranked top, after the US, in a global index of AI compute resources.
* Chinese computer firm Lenovo is the latest to announce plans for a Regional HQ in Riyadh.
* Saudi Arabia may transfer hosting of the 2029 Asian Winter Games if Trojena is not ready.
* The UAE central bank has issued over $100m in fines this year to enforce illicit financing controls.
* Masdar will redirect green energy that had been planned for hydrogen production to data centers.
* Pakistan is trying to renegotiate its Qatar LNG contract because gas demand is less than expected.
* A Qatari royal-owned company signed deals for up to $31bn investment in Botswana and Zambia.
* Engineering studies have been completed for the Doura gasfield project in Kuwait.
* Kuwait’s Gulf Bank received approval to convert into an Islamic bank to merge with Warba Bank.
* Oman’s deficit in Q2 was -1.2% of GDP, similar to Q1 and the full-year budget.
* Oman’s 5-year government development bond auctioned with an average yield of 4.32%.
* Oman is rebooting Blue City, a major tourism project west of Muscat that was cancelled in 2010.
* Bahrain awarded a concession to the US’s EOG Resources to develop onshore shale prospects.
* Iran said it is not ready to resume nuclear talks with the US, making UN snapback sanctions likely.
* Famine was confirmed in Gaza as Israel prepares a new assault, and Hamas accepted a ceasefire proposal.
* Israel approved the E1 settlement plan to split the West Bank and block a Palestinian state.
* Databank updates: Dubai Q1 GDP, Oman June fiscal, inflation for Kuwait, Oman and Abu Dhabi.
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