Saudi Arabia is shifting its focus from oil to gold, aiming to capitalize on the rising value of precious metals. The kingdom is investing in advanced mining technologies to enhance both production and consumption of gold, positioning itself as a key player in the global market.
The region’s economic landscape is also witnessing significant developments. The UAE is channeling $1.5 trillion into various sectors, while Dubai continues to innovate in real estate. Meanwhile, Turkey faces challenges with its currency.
Across the Middle East, governments are adopting AI, and mining is experiencing a boom. The Suez Canal is grappling with operational issues, and the crypto sector is dealing with the aftermath of the Bybit hack.
Major business moves include investments in electric vehicles and oil, with substantial financial stakes involved. US-Saudi relations are at a critical juncture, influencing regional dynamics.
Global growth prospects were a focus at the World Governments Summit, highlighting future economic strategies. In Jeddah, the inaugural E-Prix showcased the intersection of technology and motorsport.
Energy transitions are underway, influenced by Trump’s policies and the Gulf states’ strategic shifts. The Middle East’s tech and energy sectors are evolving rapidly, with nuclear power developments and mineral exploration gaining traction.
Tourism in the Middle East is booming, driven by strategic initiatives, and the importance of power in an AI-driven future is becoming increasingly clear. The future of energy was also a key topic at the ADIPEC conference.