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Semafor Gulf - An intelligent, transparent global news platform for breaking stories, analysis and video
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class="styles_signUpTitle__MMh_j">🟡 Semafor Gulf: Trump Tower — Riyadh</p></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR" aria-hidden="true"></div><div class="styles_signUpText__nyg1_"><a href="/newsletters/gulf/latest" aria-label="Read the latest gulf newsletter">In today’s edition: Eric Trump has big ambitions for the family business in the Gulf, Oman delays the proposed personal incomes tax, and columnist Wael Mahdi argues that many of Saudi Arabia’s new jobs aren’t sustainable.<!-- --> <span class="styles_arrow__9ikMj">→</span></a></div></div><div class="sign-up-block"><div class="styles_divider__xkDtO styles_layoutControl__zEouR" aria-hidden="true"></div><h3 class="styles_title__IgESQ"><strong>Sign up for Semafor Gulf:</strong> <!-- -->Navigating the region’s capital, influence, and power.</h3><div class="styles_inputWrapper__sEuhN"><label class="styles_hiddenLabel__AQc10" for="newsletter-sign-up-:R7qpeiuuujb5a:">Email address</label><input placeholder="Email address" id="newsletter-sign-up-:R7qpeiuuujb5a:" autoComplete="email" aria-invalid="false" type="email" class="styles_emailInput__1fIkY" required="" name="email" value=""/><button class="styles_signUpButton__yraUk">Sign Up</button><div id="newsletter-feedback" class="styles_feedback__1GX0T styles_right__NJMz0 undefined" aria-hidden="true"></div></div></div></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_formVerticalDivider__u9nQr" aria-hidden="true"></div></form><div class="styles_gridItem___IHAV"><a class="styles_featuredStory__6_iye styles_article__1kWFV styles_layoutControl__S4jQx" href="/article/12/16/2024/qatar-hikes-spending-sees-deficit-to-drive-economic-diversification"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Qatar hikes spending to drive economic diversification</h2></div><div class="styles_descriptionRow__h3ZaK"><div><div class="styles_intro__eEyMN">The country is also planning on the biggest salary increase for government workers in years.</div></div></div></div></div><div class=""><figure class="styles_figure__vTRZl styles_topSpacing__7bNrg"><img data-categories="essential" alt="A view of Doha, Qatar" loading="lazy" width="644" height="429" decoding="async" data-nimg="1" class="styles_image__tD6b9" style="color:transparent" srcSet="https://img.semafor.com/25d3c0dbbc612b28ee8eb8d0bbd9eb581d60f901-2000x1333.png?rect=112%2C0%2C1777%2C1333&w=750&h=966&q=75&auto=format 1x, https://img.semafor.com/25d3c0dbbc612b28ee8eb8d0bbd9eb581d60f901-2000x1333.png?rect=112%2C0%2C1777%2C1333&w=1920&h=966&q=75&auto=format 2x" src="https://img.semafor.com/25d3c0dbbc612b28ee8eb8d0bbd9eb581d60f901-2000x1333.png?rect=112%2C0%2C1777%2C1333&w=1920&h=966&q=75&auto=format"/><span class="styles_attribution__ywkPS">Wikimedia Commons</span></figure></div></div></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_horizontalDivider__pzvxi" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__KZJY_" aria-hidden="true"></div></div><div class="styles_gridItem___IHAV"><a class="styles_featuredStory__6_iye styles_article__1kWFV styles_layoutControl__S4jQx" href="/article/12/16/2024/oman-delays-income-tax-plans-citing-slow-economy"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Oman delays income tax plans, citing slow economy</h2></div><div class="styles_descriptionRow__h3ZaK"><div><div class="styles_intro__eEyMN">The move, first outlined in 2022, would make Oman the first country in the Gulf to introduce personal income taxation. </div></div></div></div></div><div class=""><figure class="styles_figure__vTRZl styles_topSpacing__7bNrg"><img data-categories="essential" alt="A view of Oman’s capital, Muscat" loading="lazy" width="644" height="429" decoding="async" data-nimg="1" class="styles_image__tD6b9" style="color:transparent" srcSet="https://img.semafor.com/632e600f648b1857623cc4317b03c8cd1bfba5d5-2047x1365.jpg?rect=114%2C0%2C1820%2C1365&w=750&h=966&q=75&auto=format 1x, https://img.semafor.com/632e600f648b1857623cc4317b03c8cd1bfba5d5-2047x1365.jpg?rect=114%2C0%2C1820%2C1365&w=1920&h=966&q=75&auto=format 2x" src="https://img.semafor.com/632e600f648b1857623cc4317b03c8cd1bfba5d5-2047x1365.jpg?rect=114%2C0%2C1820%2C1365&w=1920&h=966&q=75&auto=format"/><span class="styles_attribution__ywkPS">Robert Wilson/Flickr</span></figure></div></div></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_horizontalDivider__pzvxi" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__KZJY_" aria-hidden="true"></div></div></div><div class="styles_divider__xkDtO styles_layoutControl__zEouR" aria-hidden="true"></div></div><div class="styles_section__WKFcU styles_layoutControl__lq25S"><div class="styles_gridItems__PvGFI styles_layoutControl__lq25S" style="position:relative"><div class="styles_gridItem__KDRof"><a class="styles_featuredStory__6_iye styles_article__6LbpU styles_layoutControl__S4jQx" href="/article/12/16/2024/trump-organization-eyes-gulf-expansion"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Trump Organization eyes Gulf expansion</h2></div><div class="styles_descriptionRow__LwUlx"><div><div class="styles_intro__eEyMN">The president-elect’s son Eric Trump touted crypto and announced plans for two new Trump Towers in Saudi Arabia while on a tour of the region.</div></div></div></div></div><div class=""><figure class="styles_figure__vTRZl styles_topSpacing__7bNrg"><img data-categories="essential" alt="Eric Trump, son of US President-elect Donald Trump, speaks during an interview with Reuters, in Abu Dhabi" loading="lazy" width="644" height="404" decoding="async" data-nimg="1" class="styles_image__tD6b9" style="color:transparent" srcSet="https://img.semafor.com/929ca7986630e00a65c737903a107fb35d8dcc08-1280x804.png?rect=104%2C0%2C1072%2C804&w=750&h=966&q=75&auto=format 1x, https://img.semafor.com/929ca7986630e00a65c737903a107fb35d8dcc08-1280x804.png?rect=104%2C0%2C1072%2C804&w=1920&h=966&q=75&auto=format 2x" src="https://img.semafor.com/929ca7986630e00a65c737903a107fb35d8dcc08-1280x804.png?rect=104%2C0%2C1072%2C804&w=1920&h=966&q=75&auto=format"/><span class="styles_attribution__ywkPS">Abdel Hadi Ramahi/Reuters</span></figure></div></div></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_horizontalDivider__xxdt0" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__YEjtI" aria-hidden="true"></div></div><div class="styles_gridItem__KDRof"><a class="styles_featuredStory__6_iye styles_article__6LbpU styles_layoutControl__S4jQx" href="/article/12/16/2024/analysis-the-hidden-challenge-of-saudi-unemployment"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Analysis: The hidden challenge of Saudi unemployment </h2></div><div class="styles_descriptionRow__LwUlx"><div><div class="styles_intro__eEyMN">Saudi Arabia aims to reduce unemployment to 5% by 2030, but the sustainability of its job creation efforts will test the balance between public and private sector growth.</div></div></div></div></div><div class=""><figure class="styles_figure__vTRZl styles_topSpacing__7bNrg"><img data-categories="essential" alt="Yasser Al-Rumayyan, Governor of the Public Investment Fund" loading="lazy" width="644" height="429" decoding="async" data-nimg="1" class="styles_image__tD6b9" style="color:transparent" srcSet="https://img.semafor.com/9ea30ad2f2c75c14289503b679cd4d9d6ba80540-1280x854.png?rect=71%2C0%2C1139%2C854&w=750&h=966&q=75&auto=format 1x, https://img.semafor.com/9ea30ad2f2c75c14289503b679cd4d9d6ba80540-1280x854.png?rect=71%2C0%2C1139%2C854&w=1920&h=966&q=75&auto=format 2x" src="https://img.semafor.com/9ea30ad2f2c75c14289503b679cd4d9d6ba80540-1280x854.png?rect=71%2C0%2C1139%2C854&w=1920&h=966&q=75&auto=format"/><span class="styles_attribution__ywkPS">Courtesy of Future Investment Initiative </span></figure></div></div></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_horizontalDivider__xxdt0" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__YEjtI" aria-hidden="true"></div></div><div class="styles_gridItem__KDRof"><a class="styles_featuredStory__6_iye styles_article__6LbpU styles_layoutControl__S4jQx" href="/article/12/13/2024/guggenheim-considers-saudi-headquarters"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Guggenheim considers Saudi headquarters</h2></div><div class="styles_descriptionRow__LwUlx"><div><div class="styles_intro__eEyMN">Chief Investment Officer Anne Walsh highlights Saudi Arabia’s economic potential and infrastructure opportunities.</div></div></div></div></div><div class=""><figure class="styles_figure__vTRZl styles_topSpacing__7bNrg"><img data-categories="essential" alt="King Abdullah Financial District in Riyadh" loading="lazy" width="644" height="362" decoding="async" data-nimg="1" class="styles_image__tD6b9" style="color:transparent" srcSet="https://img.semafor.com/a56225232e74c4eb71fc89c06694a082940e7fa8-1600x900.jpg?rect=200%2C0%2C1200%2C900&w=750&h=966&q=75&auto=format 1x, https://img.semafor.com/a56225232e74c4eb71fc89c06694a082940e7fa8-1600x900.jpg?rect=200%2C0%2C1200%2C900&w=1920&h=966&q=75&auto=format 2x" src="https://img.semafor.com/a56225232e74c4eb71fc89c06694a082940e7fa8-1600x900.jpg?rect=200%2C0%2C1200%2C900&w=1920&h=966&q=75&auto=format"/><span class="styles_attribution__ywkPS">Mohammed Benmansour/Reuters</span></figure></div></div></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_horizontalDivider__xxdt0" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__YEjtI" aria-hidden="true"></div></div><div class="styles_gridItem__KDRof"><a class="styles_featuredStory__6_iye styles_article__6LbpU styles_layoutControl__S4jQx" href="/article/12/13/2024/analysis-the-gulf-view-on-syria-proceed-with-caution"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Analysis: The Gulf view on Syria? Proceed with caution</h2></div><div class="styles_descriptionRow__LwUlx"><div><div class="styles_intro__eEyMN">With the fall of Assad, Gulf states clearly signal there is no love lost for the former president, cautiously welcome Syria’s new chapter, balancing hope for stability with lessons from past regime collapses.</div></div></div></div></div><div class=""><figure class="styles_figure__vTRZl styles_topSpacing__7bNrg"><img data-categories="essential" alt="" loading="lazy" width="644" height="422" decoding="async" data-nimg="1" class="styles_image__tD6b9" style="color:transparent" srcSet="https://img.semafor.com/2719d622e568ea276aa2d2cdc8b59d5b218a432d-2048x1344.jpg?rect=128%2C0%2C1792%2C1344&w=750&h=966&q=75&auto=format 1x, https://img.semafor.com/2719d622e568ea276aa2d2cdc8b59d5b218a432d-2048x1344.jpg?rect=128%2C0%2C1792%2C1344&w=1920&h=966&q=75&auto=format 2x" src="https://img.semafor.com/2719d622e568ea276aa2d2cdc8b59d5b218a432d-2048x1344.jpg?rect=128%2C0%2C1792%2C1344&w=1920&h=966&q=75&auto=format"/><span class="styles_attribution__ywkPS">HTS leader Ahmad Al Shara in Damascus. Mahmoud Hassano/Reuters</span></figure></div></div></a><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_horizontalDivider__xxdt0" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__YEjtI" aria-hidden="true"></div></div></div></div><div><div class="styles_section__T7DHK styles_layoutControl__frLZg"><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_topDivider__Z_ZFz styles_layoutControl__frLZg" aria-hidden="true"></div><div class="styles_gridItems__Lny1T styles_layoutControl__frLZg" style="position:relative"><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/11/2024/the-republican-war-over-trumps-syria-policy"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">The Republican war over Trump’s Syria policy</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Rand Paul wants US troops out of the country on ‘Day One.’ Others aren’t so sure.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/11/2024/eric-trump-sees-bitcoin-at-1-million-and-the-us-as-crypto-capital-in-bullish-remarks"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Eric Trump sees Bitcoin at $1 million and US as ‘crypto capital’ in bullish remarks</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Speaking at the Bitcoin MENA event in Abu Dhabi, the President-elect’s son said the world was at the ‘beginning of a financial revolution.’</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_mobileDivider___8K1b" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG styles_odd__FQFtz" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/11/2024/abu-dhabi-emerges-as-global-finance-hub-as-firms-set-up-shop-in-the-city"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Abu Dhabi emerges as global finance hub as firms set up shop in the city</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Billionaire hedge fund investor Ray Dalio praised the emirate as a “renaissance state” and a haven amid escalating geopolitical tensions. </div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/10/2024/syria-regime-topple-affects-global-migration-and-drug-trafficking"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Syria regime topple affects global migration and drug trafficking</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Several European nations have suspended processing asylum applications for Syrian nationals, while the manufacturing of narcotic Captagon has virtually ceased.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG styles_odd__FQFtz" aria-hidden="true"></div></div><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_bottomDivider__c8vud styles_layoutControl__frLZg" aria-hidden="true"></div></div><div class="styles_section__T7DHK styles_layoutControl__frLZg"><div class="styles_gridItems__Lny1T styles_layoutControl__frLZg" style="position:relative"><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/09/2024/un-desertification-report-finds-most-of-earth-has-become-drier-in-last-30-years"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Most of globe has become more arid, UN finds, as COP16 talks continue in Riyadh</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">The UN report comes as world leaders meet in Saudi Arabia for the agency’s COP16 conference on land desertification.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/09/2024/viewing-the-turmoil-in-damascus-through-tensions-in-doha"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Turmoil in Damascus, tensions in Doha</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">A revolution in Syria was buffeted by fast-moving discussions in Qatar, where the broader fallout of the country’s civil war was all too plain to see.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_mobileDivider___8K1b" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG styles_odd__FQFtz" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/09/2024/uae-leads-gulf-ipo-boom-in-2024"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">UAE leads Gulf IPO boom in 2024</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Food delivery service Talabat’s $2 billion offering cements Dubai’s position as the top listing hub in the region.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/09/2024/how-a-new-syria-can-engage-with-the-gulf"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Analysis: How a new Syria can engage with the Gulf</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">The prospect of deeper ties with Gulf countries after the collapse of the Assad regime hinges on whether Syrians choose an Islamist government.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG styles_odd__FQFtz" aria-hidden="true"></div></div><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_bottomDivider__c8vud styles_layoutControl__frLZg" aria-hidden="true"></div></div><div class="styles_section__T7DHK styles_layoutControl__frLZg"><div class="styles_gridItems__Lny1T styles_layoutControl__frLZg" style="position:relative"><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/07/2024/saudi-arabia-on-track-to-tighten-nuclear-oversight"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Saudi Arabia on track to tighten nuclear oversight</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Riyadh will adopt the IAEA’s full safeguards this year, curbing its nuclear program amid concerns of potential arms race with Tehran.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/06/2024/trumps-middle-east-adviser-talks-regional-peace"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Trump’s Middle East adviser talks regional peace</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">The 53-year-old Lebanese-American billionaire envoy pick, Massad Boulos, is also father-in-law to Donald Trump’s daughter, Tiffany.</div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_layoutControl__zEouR styles_mobileDivider___8K1b" aria-hidden="true"></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG styles_odd__FQFtz" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/06/2024/dubai-eyes-african-luxury-tourism-boom"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Dubai eyes African luxury tourism boom</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">The UAE continues to grow its influence in Africa, pledging a combined $97 billion in investments in 2022 and 2023. </div></div></div></div></div><div class=""></div></div></a></div><div class="styles_divider__xkDtO styles_vertical__l_4R6 styles_layoutControl__zEouR styles_verticalDivider__UqZQG" aria-hidden="true"></div><div class="styles_gridItem__S3tu8"><a class="styles_featuredStory__6_iye styles_article__gSfs9 styles_layoutControl__S4jQx" href="/article/12/06/2024/analysis-gulf-optimism-meets-middle-east-realities"><div class=""><div class=""><div class=""><div><h2 class="styles_headline__0eSG_">Analysis: Gulf optimism meets Middle East realities</h2></div><div class="styles_descriptionRow__cJF36"><div><div class="styles_intro__eEyMN">Trump’s return has sparked optimism in the Gulf, but visiting leaders and CEOs this week may overlook the fragility of the region’s stability amid unresolved Middle Eastern 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