Emerging markets
Power cuts and blackouts: Why can’t Iraq keep the lights on?
Iraq was plunged into a nationwide blackout earlier this week, as a temperature surge to 122 degrees Fahrenheit (50° Celcius) — and subsequent spiking demand for electricity — pushed the country’s faltering power grid to the breaking point. For a country that has seen as much conflict and instability as Iraq, this could come as […]
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What’s behind the $8-billion hit to Saudi Arabia’s massive wealth fund
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM Saudi Arabia’s mammoth sovereign wealth fund saw a major decline in investments in its so-called “gigaprojects,” amounting to an $8 billion write-down at the end of 2024 — despite assets under management reaching nearly $1 trillion, according to its annual report. Gigaproject […]
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Sri Lanka’s Vegas moment? Melco’s casino resort targets Indian tourists
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Melco’s City of Dreams Sri Lanka, South Asia’s first integrated casino resort, is targeting Indian tourists with luxury experiences beyond Colombo’s beaches. Gihan Cooray, Deputy Chairman of John Keells Holdings, says that the potential from Indian travelers is vast and waiting to […]
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War-weary Syria will be hurt further by Trump’s 41% tariff rate — the highest on earth
U.S. President Donald Trump meets with Syrian President Ahmed al-Sharaa in Riyadh, Saudi Arabia, in this handout released on May 14, 2025. Saudi Press Agency | Via Reuters In May, speaking to a rapt crowd in the Ritz-Carlton Riyadh, U.S. President Donald Trump stunned listeners by announcing he would be ordering the full lifting of […]
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With Trump pressure and a ‘new Lebanon,’ can Hezbollah’s shadow economy be dismantled?
Key Points “Hezbollah finds itself in its greatest predicament since its foundation,” one regional expert told CNBC. Hezbollah makes money from industries like banking and construction, but also runs international drug trafficking and smuggling operations as far afield as Bulgaria and Argentina. Its revenues are estimated in the billions of dollars annually. Following Israel’s aggressive […]
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Private investors buy into largest-of-its-kind solar deal to electrify Kenya
Commercial banks have bought into a major $150 million financing deal for off-grid solar power in Kenya, in a sign of growing investor confidence in the electrification of sub-Saharan Africa. Sun King, an off-grid solar energy company, raised the Kenyan-shilling equivalent of $156 million by bundling future payments from its solar-power customers into an asset-backed […]
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Saudi Arabia reckons with its costly megaprojects as $500 billion ‘The Line’ is reviewed
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM DUBAI, United Arab Emirates — Saudi Arabia’s sovereign wealth fund is reassessing its flagship $500 billion futuristic city called The Line. The public investment fund has tapped consulting firms to conduct a strategic review into the feasibility of the 105-mile linear city, […]
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Israel’s stock market outperforms Middle East counterparts despite multi-front wars
A missile is intercepted over Tel Aviv on June 20, 2025, after a Iran fired a fresh salvo of missiles. John Wessels | Afp | Getty Images Israel’s stock market is at a record high and has seen the greatest gains of any country in the Middle East over the 22 months of war that […]
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Was it all ‘just a big show?’ Anxiety, frustration and hope for Middle East residents as Trump brokers fragile ceasefire
A view of missiles over Doha, Qatar after Iran has launched an operation targeting a U.S. base in Qatar on June 23, 2025. Stringer | Anadolu | Getty Images DUBAI, United Arab Emirates — Escalating regional war, or a bunch of choreographed theatre? A shaky ceasefire announced by President Donald Trump Monday night looks to […]
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Fund managers are pouring money into emerging markets. Here’s where investors see opportunities
Volatility has gripped global equity markets this year — and according to some asset managers, now could be the perfect time to rethink emerging markets. Developing economies were hit particularly hard by U.S. President Donald Trump’s so-called “reciprocal tariffs” plans when he unveiled them in April, with Sri Lanka, Cambodia and Vietnam slapped with tariffs […]
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