My latest (and it's online):

How does the GCC invest its wealth?
• A bit of diversification away from oil
• A bit of soft-power building
• A bit of economic diplomacy

bloomberg.com/news/articles/…

UAE: Abu Dhabi borrowed $5 bn from bond markets
• First bond sale since 2021
• Emerging markets sold ~$100 bn of foreign-currency bonds this year
• 'Higher for longer' US interest rates have raised borrowing costs for dollar issuers

bloomberg.com/news/articles/…

Great piece by Ziad Daoud (@Bloomberg) on the scope and limits of the Gulf states' colossal financial power. I highly recommend.
It cites data that Camille Lons and I compiled for IISS News on Gulf bailouts and their often-uncertain geopolitical returns. bloomberg.com/news/articles/…

Gulf nations awash in fossil fuel revenue are using investments not only to diversify their economies but to extend their influence abroad bloomberg.com/news/articles/… via Bloomberg

Thank you Ziad Daoud for mentioning my book on Gulf Economic Statecraft

Egypt to get $0.4 bn in budget support from the UK

Size of international bailout so far = $57.4 bn

Sources:
• UAE: $35 bn
• IMF: $8 bn
• EU: $8 bn
• World Bank: $6 bn
• UK: $0.4 bn

bloomberg.com/news/articles/…

Iraq: Resuming oil exports via Turkey will take time
• Exports halted in March 2023
• That has taken 0.5 million barrels of oil daily out of the market
• Delay won't be costly financially -- Iraq has been producing above OPEC+ quota anyway

bloomberg.com/news/articles/…

Lebanon: Inflation fell to 70% in March
• First time it falls below 100% in almost 4 years
• Reasons: (1) pricing in dollars; (2) stable black market since last summer
• Prices are still rising, just not at 100% or 200% rate every year

By Omar Tamo
bloomberg.com/news/articles/…

UN-commissioned investigation:
- “Israel made public claims that a significant number of UNRWA employees are members of terrorist organizations”
- “However, Israel has yet to provide supporting evidence of this”
- Secretary-General welcomed the findings
bloomberg.com/news/articles/…

Iraq: Resuming oil exports via Turkey will take time
• Exports halted in March 2023
• That has taken 0.5 million barrels of oil daily out of the market
• Delay won't be costly financially -- Iraq has been producing above OPEC+ quota anyway

bloomberg.com/news/articles/…

Lebanon: Inflation fell to 70% in March
• First time it falls below 100% in almost 4 years
• Reasons: (1) pricing in dollars; (2) stable black market since last summer
• Prices are still rising, just not at 100% or 200% rate every year

By Omar Tamo
bloomberg.com/news/articles/…

Egypt to get $0.4 bn in budget support from the UK

Size of international bailout so far = $57.4 bn

Sources:
• UAE: $35 bn
• IMF: $8 bn
• EU: $8 bn
• World Bank: $6 bn
• UK: $0.4 bn

bloomberg.com/news/articles/…

US House passed new sanctions on Iran oil:
• Legislation to include ports, vessels, refineries dealing with Iranian crude
• 80% of Iran exports go to independent refineries in China
• Iran exports about 1.5 million barrels/day
bloomberg.com/news/articles/…

One Gulf City Preserves Streets After Others Bulldozed Old Buildings

- A great contribution by the dear ⁦سلطان سعود القاسمي⁩ 🙏🏻 bloomberg.com/news/articles/…

The US is expected to sanction Israel army battalion:
• Netzah Yehuda Battalion is accused of mistreating Palestinians in the West Bank
• 1st US sanctions on Israeli army unit
• Netanyahu condemned reported sanction plans

bloomberg.com/news/articles/…

Oil: In mid-2023, Saudi cut its output to 9 million barrels/day

When will Riyadh & OPEC+ partners lift production?

The IMF thinks they'll start, gradually, in July

bloomberg.com/news/articles/…

The US is expected to sanction Israel army battalion:
• Netzah Yehuda Battalion is accused of mistreating Palestinians in the West Bank
• 1st US sanctions on Israeli army unit
• Netanyahu condemned reported sanction plans

bloomberg.com/news/articles/…

US House passed new sanctions on Iran oil:
• Legislation to include ports, vessels, refineries dealing with Iranian crude
• 80% of Iran exports go to independent refineries in China
• Iran exports about 1.5 million barrels/day
bloomberg.com/news/articles/…

Oil: In mid-2023, Saudi cut its output to 9 million barrels/day

When will Riyadh & OPEC+ partners lift production?

The IMF thinks they'll start, gradually, in July

bloomberg.com/news/articles/…