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class="styles_navItem__sgZ_O">The CEO Signal</a></nav><hr class="styles_bottomDivider___gcHD"/></div><div><div class="styles_newsletterEmbed__aDwmP"><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td><span style="display:none">In today’s edition: Aramco slashes its dividend, columnist Amena Bakr on OPEC’s surprise decision, a͏‌  ͏‌  ͏‌  ͏‌  ͏‌  ͏‌ </span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="99%" align="left" valign="top" style="padding-top:10px"><tbody><tr><td style="background-color:#E4E2D6"><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td width="10"> </td><td style="padding-top:10px"><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top" style="line-height:10px"><tbody><tr><td style="width:33.24%"><div style="text-align:left" class="dmwd"><img src="https://static.semafor.com/_app/static/images/rain-grey.6c916be8b0c7f6e0df26.png" alt="thunderstorms" width="14" height="14" class="lmwi" style="margin-top:-2px"><span></span><img src="https://static.semafor.com/_app/static/images/rain-grey.6c916be8b0c7f6e0df26.png" alt="thunderstorms" width="16" height="16" style="display:none;margin-top:-2px" class="dmwi"><span></span><span class="dmbt" style="font-family:Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;font-size:12px;line-height:1.5;padding-left:2px;letter-spacing:-0.01em;color:#53524C;vertical-align:top;text-transform:uppercase"> Dhahran</span></div></td><td style="width:33.24%"><div style="text-align:center" class="dmwd"><img src="https://static.semafor.com/_app/static/images/sunny-grey.cc900ae415c23500c794.png" alt="sunny" width="14" height="14" class="lmwi" style="margin-top:-2px"><span></span><img src="https://static.semafor.com/_app/static/images/sunny-grey.cc900ae415c23500c794.png" alt="sunny" width="16" 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sans-serif;font-style:normal;font-weight:400;font-size:12px;line-height:1.5;padding-left:2px;letter-spacing:-0.01em;color:#53524C;vertical-align:top;text-transform:uppercase"> Cairo</span></div></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top" style="padding-top:10px;padding-bottom:10px"><tbody><tr><td><span></span><div class="dmyboc" style="border-top:1px dashed #1f1d1a;border-color:#9C9A92"></div><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td width="12"><img src="https://static.semafor.com/_app/static/images/spinning-earth.20870f74e29772523899.gif" alt="rotating globe" width="12" height="12" style="display:inline;vertical-align:baseline"></td><td><div style="color:#53524C;font-family:Helvetica;font-size:0.75rem;line-height:14px;font-style:normal;margin-left:10px;text-transform:uppercase;display:inline;vertical-align:baseline">March 5, 2025</div></td><td style="text-align:right"></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr style="vertical-align:top"><td style="padding-top:35px"><img src="https://static.semafor.com/_app/static/images/semafor-logo.8d23aae71cf96b98328e.png" width="188" height="31" alt="semafor"></td></tr><tr style="vertical-align:top"><td><h1 class="dmbt" style="font-family:Times New Roman;font-weight:400;font-size:42px;color:#1F1D1A;text-transform:capitalize;margin:0;line-height:1.2">Gulf</h1></td><td align="right"><img width="36" height="37" src="https://static.semafor.com/_app/static/images/icon-gulf.0dc7062b00777951dc1d.png" alt="gulf"></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top" style="padding-top:20px;padding-bottom:10px"><tbody><tr><td><span></span><div class="dmyboc" style="border-top:1px dashed #1f1d1a;border-color:#9C9A92"></div><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top" style="padding-bottom:10px"><tbody><tr><td><a href="https://www.semafor.com/newsletters?utm_campaign=gulfweb" clicktracking="off" class="dmbt" style="font-size:1.125rem;line-height:22px;vertical-align:top;text-decoration:none;font-family:Times New Roman, sans serif;color:#1f1d1a;position:relative"><span>Sign up for our free newsletters</span><span style="margin-left:3px">→</span></a></td></tr></tbody></table></td><td width="10"> </td></tr></tbody></table></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td height="2"></td></tr></tbody></table><div><table class="dmybo" width="99%" style="border:1px solid #575757;mso-border-right-alt:1px solid #575757" id="a"><tbody><tr><td style="padding-top:20px;padding-bottom:10px"><table id="#a" width="100%"><tbody><tr><td align="center" style="padding-bottom:10px"><span></span><span class="dmyt dmybo" style="font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px">The Gulf Today</span><span></span></td></tr></tbody></table><table><tbody><tr><td style="font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="A numbered map of the Gulf region." src="https://img.semafor.com/89f1900e09ffc8caaafce9c9a135fa4bfa7d1616-1005x564.png?w=1140&h=640&q=95&auto=format" width="570" height="640"></a><span></span><ol style="clear:both;padding-left:42px"><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">Aramco’s $85B payout</li><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">OPEC+ phases out cuts</li><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">ADNOC’s chemical push</li><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">Arab leaders’ Gaza plan</li><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">Obesity epidemic</li><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">Israelis invest in Dubai</li></ol><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" src="https://img.semafor.com/5aa7937a5c57d63b6b584567a21cdbda5beafb89-1065x134.png?w=1140&h=143&q=95&auto=format" width="570" height="143"></a><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">It’s hard to believe, but it’s been cooler in Dubai.</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a 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#575757;border-radius:999px">1</span><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td align="center" style="padding:10px 0px 19px"><h2 class="dmyt" style="font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px">Aramco trims its dividend</h2></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" align="left" valign="top"><tbody><tr><td style="padding:0px 10px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="The Saudi Aramco logo is pictured at an exhibition in Paris." src="https://img.semafor.com/e77db3213307c21ecf63ae5f5030489b9c571c5b-1600x1066.jpg?rect=1,0,1599,1066&w=1152&h=768&q=95&auto=format" width="576" height="768"></a><figcaption style="font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px">Benoit Tessier/Reuters</figcaption><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Saudi Arabia’s government will forgo billions of dollars in income from its oil giant this year, giving up funds needed for economic diversification to fortify Aramco’s balance sheet. </strong>Aramco — <a clicktracking="off" style="color:#0E29B5" href="https://www.bloomberg.com/news/articles/2025-03-04/aramco-cuts-world-s-biggest-dividend-in-blow-to-saudi-budget?srnd=homepage-middle-east" target="_blank" class="dmlc">which distributes the world’s biggest dividend</a> — will reduce its payout to $85.4 billion in 2025, down from $124.2 billion last year, after weaker-than-expected oil prices resulted in lower profits. The decline is likely to persist after OPEC+ agreed to boost output, but Saudi could earn more from its bigger quota. The kingdom will be allowed to pump nearly 500,000 additional barrels per day by the end of the year. Aramco said an extra million bpd “could generate an <a clicktracking="off" style="color:#0E29B5" href="https://www.aramco.com/en/news-media/news/2025/aramco-announces-full-year-2024-results" target="_blank" class="dmlc">additional $12 billion in operating cash flow</a>, based on 2024’s average price.”</p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">An $85 billion dividend is hefty, but Saudi Arabia’s transformation needs far more than that. Riyadh is forecasting a $27 billion budget deficit for 2025 and has turned to debt markets to fill the gap. Non-oil growth is outpacing the broader economy, but critics warn the kingdom remains heavily dependent on sovereign wealth fund investments — which are in part funded by Aramco payouts.</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a 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#575757;border-radius:999px">2</span><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td align="center" style="padding:10px 0px 19px"><h2 class="dmyt" style="font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px">Analysis: OPEC+ decision confounds</h2></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" align="left" valign="top"><tbody><tr><td style="padding:0px 10px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="Amena Bakr headshot " src="https://img.semafor.com/6a53cd968e06c3576e1891a41f3eb297bbd1110d-1600x488.jpg?w=1152&h=351&q=95&auto=format" width="576" height="351"></a><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Most oil market watchers were expecting OPEC+ would again delay unwinding its voluntary cuts, but the group defied expectations, </strong>Amena Bakr, the head of Middle East Energy & OPEC+ research at global commodities data firm Kpler, writes in a Semafor column.</p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">“<a clicktracking="off" style="color:#0E29B5" href="https://www.semafor.com/article/03/04/2025/analysis-opec-stays-the-course-defying-market-expectations" target="_blank" class="dmlc">OPEC+’s decision signals that demand can support additional supply</a> and that nearly three years of cuts have tightened stock levels,” Bakr writes. “A key component of the deal is the UAE’s long-awaited 300,000-bpd quota adjustment over 18 months, which would allow the country to move closer to its production capacity and enhance group cohesion.”</p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top" style="padding-top:10px;padding-bottom:10px"><tbody><tr><td><span></span><div class="dmyboc" style="border-top:1px dashed #1f1d1a"></div><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0"><tbody><tr><td valign="top"><p class="dmwt" style="font-family:Helvetica;font-size:1.125rem;line-height:120%;margin:0">Read on for Bakr’s insight <a clicktracking="off" href="https://www.semafor.com/article/03/04/2025/analysis-opec-stays-the-course-defying-market-expectations?utm_medium=gulf&utm_campaign=flagshipnumbered2&utm_source=nowcta" style="color:#243bb5;text-decoration:none">into why the decision serves as a “warning shot” to members who have repeatedly breached quotas</a>. →</p></td></tr></tbody></table></p><div style="height:10px"></div><p></p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a 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#575757;border-radius:999px">3</span><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td align="center" style="padding:10px 0px 19px"><h2 class="dmyt" style="font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px">ADNOC, OMV create chemicals giant</h2></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" align="left" valign="top"><tbody><tr><td style="padding:0px 10px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="ADNOC headquarters in Abu Dhabi" src="https://img.semafor.com/9c446c2d11b75bfeff412c42538afc5a2fadc1a8-1600x1066.jpg?rect=1,0,1599,1066&w=1152&h=768&q=95&auto=format" width="576" height="768"></a><figcaption style="font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px">Christopher Pike/Reuters</figcaption><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Abu Dhabi National Oil Co. (ADNOC) and Austrian energy and chemicals producer OMV are merging some petrochemicals and plastics units to form Borouge Group, a company valued at more than $60 billion. </strong>Borouge will be headquartered in Austria, with a regional base in the UAE and offices in Canada and Singapore. The company will acquire Canada’s Nova Chemicals — currently owned by Abu Dhabi sovereign wealth fund Mubadala — positioning it as the <a clicktracking="off" style="color:#0E29B5" href="https://www.adnoc.ae/en/news-and-media/press-releases/2025/adnoc-and-omv-to-create-60-billion-global-polyolefins-champion" target="_blank" class="dmlc">world’s fourth-largest producer of polyolefins</a>, which are plastics used in everything from packaging and toys to car bumpers and medical devices. ADNOC plans to transfer its stake in Borouge to XRG, its lower-carbon energy and chemicals, and global gas investment platform.</p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">Gulf oil producers have long expanded into petrochemicals to boost returns from crude production and meet rising demand in a market projected to double by 2050, a strategy that contrasts with international oil companies’ apparent shift away from refined products. BP last month launched a “<a clicktracking="off" style="color:#0E29B5" href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-launches-strategic-review-of-global-lubricants-business.html" target="_blank" class="dmlc">strategic review</a>” of its global lubricants business, while <a clicktracking="off" style="color:#0E29B5" href="https://www.wsj.com/business/deals/shell-explores-sale-of-chemicals-assets-in-u-s-and-europe-170b6d02" target="_blank" class="dmlc">Shell is considering selling</a> its chemicals assets in the US and Europe, according to The Wall Street Journal.</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 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style="display:none;font-size:30px;font-family:Times New Roman;color:#575757">↓</span><span></span></td></tr></tbody></table><table class="dmybo" width="99%" style="border:1px solid #575757;mso-border-right-alt:1px solid #575757" id="e"><tbody><tr><td style="padding-top:20px;padding-bottom:10px"><table id="#e" width="100%"><tbody><tr><td align="center" style="padding-bottom:10px"><span></span><span class="dmyt dmybo" style="font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px">4</span><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td align="center" style="padding:10px 0px 19px"><h2 class="dmyt" style="font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px">US rejects Arab plan for Gaza</h2></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" align="left" valign="top"><tbody><tr><td style="padding:0px 10px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="Egyptian President Abdel Fattah el-Sisi poses for a picture with leaders as Egypt hosts emergency Arab summit to discuss Palestinian developments" src="https://img.semafor.com/53935369bb14d98deeaddddb466db0a7b8795e63-1600x759.jpg?rect=0,1,1600,758&w=1152&h=546&q=95&auto=format" width="576" height="546"></a><figcaption style="font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px">Egyptian Presidency/Reuters</figcaption><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Arab leaders endorsed Egypt’s $53 billion Gaza reconstruction plan, only for the US to promptly reject it. </strong>The Arab League’s emergency summit in Cairo concluded with the first unified counter to US President Donald Trump’s proposal to “take over” Gaza and displace Palestinians. The Arab plan estimates a <a clicktracking="off" style="color:#0E29B5" href="https://www.thenationalnews.com/news/mena/2025/03/04/arab-summit-egypt-alternative-trump-gaza-plan/" target="_blank" class="dmlc">three-to-five-year rebuilding process</a>, with Gazans remaining in temporary housing rather than leaving the enclave. Governance would be overseen by a small technocratic committee for six months before transitioning to a revamped Palestinian Authority.</p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">“The current proposal does not address the reality that <a clicktracking="off" style="color:#0E29B5" href="https://edition.cnn.com/2025/03/04/middleeast/us-arab-gaza-reconstruction-plan-rejects-hnk-intl/index.html" target="_blank" class="dmlc">Gaza is currently uninhabitable</a> and residents cannot humanely live in a territory covered in debris and unexploded ordnance,” a US National Security Council spokesman said. Trump, in his 100-minute congressional address on Tuesday, didn’t mention his plan to redevelop Gaza into the “Riviera of the Middle East.”</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a href="https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.semafor.com%2Fnewsletter%2F03%2F05%2F2025%2Faramco-slashes-dividend%3Futm_source%3Dnowshare%26utm_medium%3Dgulf%26utm_campaign%3Dflagshipnumbered4%23e&text=%F0%9F%9F%A1%20Aramco%20slashes%20dividend" 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#575757;border-radius:999px">5</span><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td align="center" style="padding:10px 0px 19px"><h2 class="dmyt" style="font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px">Youth obesity expected to surge</h2></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" align="left" valign="top"><tbody><tr><td style="padding:0px 10px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="2050" src="https://img.semafor.com/89a5dcb905f533ad50285f5ba240f86ff01e9114-1005x330.png?w=1152&h=378&q=95&auto=format" width="576" height="378"></a><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>The year by which the Middle East and North Africa will have the highest proportion of overweight and obese youths in the world, </strong>according to a new study published in the medical journal The Lancet. <a clicktracking="off" style="color:#0E29B5" href="https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(25)00397-6/fulltext#app-1" target="_blank" class="dmlc">More than half of young people</a> aged 5-24 in the region are expected to be overweight or obese by then, driven by the spread of highly processed foods and more sedentary lifestyles resulting from urbanization. The health and economic toll is already significant — obesity-related deaths and disabilities are estimated to <a clicktracking="off" style="color:#0E29B5" href="https://www.thenationalnews.com/uae/2024/03/04/world-obesity-day-uae-annual-bill-for-condition-expected-to-hit-12bn/" target="_blank" class="dmlc">cost the UAE around $12 billion a year</a>. The region isn’t an outlier. The Lancet study called the rise of obesity a “global epidemic” that requires aggressive measures to be reined in.</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a href="https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.semafor.com%2Fnewsletter%2F03%2F05%2F2025%2Faramco-slashes-dividend%3Futm_source%3Dnowshare%26utm_medium%3Dgulf%26utm_campaign%3Dflagshipnumbered5%23f&text=%F0%9F%9F%A1%20Aramco%20slashes%20dividend" aria-label="Share with Twitter" 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#575757;border-radius:999px">6</span><span></span></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td align="center" style="padding:10px 0px 19px"><h2 class="dmyt" style="font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px">Israelis drawn to Dubai property</h2></td></tr></tbody></table><table cellpadding="0" cellspacing="0" border="0" align="left" valign="top"><tbody><tr><td style="padding:0px 10px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="General view of the Burj Khalifa skyline in Dubai" src="https://img.semafor.com/441fca9af52379db0d51ba4c1c8b1b790707cb12-1600x1200.jpg?w=1152&h=864&q=95&auto=format" width="576" height="864"></a><figcaption style="font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px">Abdel Hadi Ramahi/Reuters</figcaption><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Israeli investors are pouring into Dubai’s property market, drawn by prices nearly half those in Tel Aviv and higher returns. </strong>One- and two-bedroom apartments priced between 1-2 million shekels ($278,000-$556,000) are proving the most popular, with buyers targeting more affordable areas like Jumeirah Village Circle and Business Bay. A Tel Aviv realtor told The Times of Israel that <a clicktracking="off" style="color:#0E29B5" href="https://www.timesofisrael.com/as-a-tax-haven-with-affordable-properties-dubai-draws-israeli-investors-despite-war/" target="_blank" class="dmlc">1 million shekels isn’t enough for a deposit</a> on similar units in Israel, which yield around 3% annually. Tax exemptions and superior amenities, including pools and gyms, add to the appeal.</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a href="https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.semafor.com%2Fnewsletter%2F03%2F05%2F2025%2Faramco-slashes-dividend%3Futm_source%3Dnowshare%26utm_medium%3Dgulf%26utm_campaign%3Dflagshipnumbered6%23g&text=%F0%9F%9F%A1%20Aramco%20slashes%20dividend" aria-label="Share with Twitter" target="_blank" rel="noopener 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#575757;border-radius:999px">The World Economy Summit</span><span></span></td></tr></tbody></table><table><tbody><tr><td style="font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="A graphic promoting Semafor’s World Economy Summit event." src="https://img.semafor.com/473fe97a4a07933ac5b76315b1998366986a67cb-1600x1180.jpg?w=1140&h=841&q=95&auto=format" width="570" height="841"></a><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Convening over three days in Washington, DC, the World Economy Summit 2025 is dedicated to advancing dialogues that catalyze global growth and fortify resilience in an uncertain, shifting global economy.</strong> This week, we’re announcing our world-class program and the opening of delegate registration. Twelve sessions over three days will focus on the dynamic forces shaping the global economic and geopolitical system. Each session is designed to inspire transformative, newsmaking dialogue to shape a more prosperous economy. <a clicktracking="off" style="color:#0E29B5" href="https://events.semafor.com/WorldEconomySummit2025" target="_blank" class="dmlc">Apply to be an in-person delegate</a> or <a clicktracking="off" style="color:#0E29B5" href="https://events.semafor.com/VirtualWorldEconomySummit2025" target="_blank" class="dmlc">sign up for a virtual pass</a> to watch every session live.</p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>Apr. 23-25 | Washington, DC | <a clicktracking="off" style="color:#0E29B5" href="https://events.semafor.com/WorldEconomySummit2025" target="_blank" class="dmlc">Learn More</a></strong></p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 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style="display:none;font-size:30px;font-family:Times New Roman;color:#575757">↓</span><span></span></td></tr></tbody></table><table class="dmybo" width="99%" style="border:1px solid #575757;mso-border-right-alt:1px solid #575757" id="i"><tbody><tr><td style="padding-top:20px;padding-bottom:10px"><table id="#i" width="100%"><tbody><tr><td align="center" style="padding-bottom:10px"><span></span><span class="dmyt dmybo" style="font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px">Kaman</span><span></span></td></tr></tbody></table><table><tbody><tr><td style="font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" src="https://img.semafor.com/81c98e8b27be341b0c3321ca848218d094fce98b-1139x417.png?w=1140&h=417&q=95&auto=format" width="570" height="417"></a><span></span><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td><span></span><div class="dmyboc" style="border-top:1px dashed #1f1d1a;border-color:#9C9A92"></div><span></span></td></tr></tbody></table><h3 class="dmwt" style="line-height:180%;font-size:1.375rem;margin-top:8px;margin-bottom:4px">Education</h3><ul style="clear:both;padding-left:30px"><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">The<strong> </strong>UAE<strong> </strong>— which has had an AI minister since 2017 — is launching an undergraduate program in the field. The <strong>Mohamed bin Zayed University of Artificial Intelligence</strong> offers <a clicktracking="off" style="color:#0E29B5" href="https://www.wam.ae/article/biha3ke-mbzuai-launches-first-undergraduate-programme" target="_blank" class="dmlc">degrees in AI business and AI engineering</a>, and students will learn from the teams that developed Arabic large language model JAIS.</li></ul><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td><span></span><div class="dmyboc" style="border-top:1px dashed #1f1d1a;border-color:#9C9A92"></div><span></span></td></tr></tbody></table><h3 class="dmwt" style="line-height:180%;font-size:1.375rem;margin-top:8px;margin-bottom:4px">Finance</h3><ul style="clear:both;padding-left:30px"><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">Saudi Arabia’s <strong>Public Investment Fund</strong> plans to invest in <strong>Goldman Sachs</strong>-managed funds focused on private credit and public equity in the kingdom and the Gulf. The agreement aims to <a clicktracking="off" style="color:#0E29B5" href="https://www.pif.gov.sa/en/news-and-insights/press-releases/2025/pif-and-goldman-sachs-asset-management-sign-an-mou-to-partner-on-investment-in-saudi-arabia/?utm_source=linkedin&utm_medium=social&utm_campaign=pressrelease" target="_blank" class="dmlc">strengthen Saudi’s asset management industry</a> and encourage other foreign managers to expand in the kingdom. BlackRock, State Street, and other local and foreign firms have established investment funds backed by PIF.</li></ul><table cellpadding="0" cellspacing="0" border="0" width="100%" align="left" valign="top"><tbody><tr><td><span></span><div class="dmyboc" style="border-top:1px dashed #1f1d1a;border-color:#9C9A92"></div><span></span></td></tr></tbody></table><h3 class="dmwt" style="line-height:180%;font-size:1.375rem;margin-top:8px;margin-bottom:4px">Logistics</h3><ul style="clear:both;padding-left:30px"><li class="dmwt" style="margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px">It doesn’t just feel like delivery <strong>motorcycles</strong> are everywhere in Riyadh — it’s quantifiable. <strong>Saudi Arabia</strong>’s <a clicktracking="off" style="color:#0E29B5" href="https://www.aleqt.com/2025/03/02/article_2757859.html" target="_blank" class="dmlc">annual motorcycle imports jumped 44%</a> in 2024, driven by surging demand in e-commerce, food delivery, and parcel services. The rapid growth of the sector is also prompting new regulations and licensing to streamline operations. — Al-Eqtisadiah</li></ul></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a href="https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.semafor.com%2Fnewsletter%2F03%2F05%2F2025%2Faramco-slashes-dividend%3Futm_source%3Dnowshare%26utm_medium%3Dgulf%26utm_campaign%3DKaman%23i&text=%F0%9F%9F%A1%20Aramco%20slashes%20dividend" aria-label="Share with Twitter" 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#575757;border-radius:999px">Curio</span><span></span></td></tr></tbody></table><table><tbody><tr><td style="font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="A chart showing summertime land temperatures in Gulf cities." src="https://img.semafor.com/8d246e841c9a14a54dc5e937cc0b4e9f6b8a81fc-1066x1130.jpg?w=1140&h=1208&q=95&auto=format" width="570" height="1208"></a><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>As global temperatures consistently hit record highs, Dubai has recorded a surprising cooling trend over the past 25 years.</strong> A new study found that <a clicktracking="off" style="color:#0E29B5" href="https://www.thenationalnews.com/news/uae/2025/02/28/uae-weather-global-warming-dubai-temperatures/" target="_blank" class="dmlc">land surface temperatures in urban areas fell</a> from 52 degrees Celsius in 1998 to 49 degrees in 2023, which researchers attribute to the expansion of green spaces and water bodies. Large inland water features such as Dubai Creek and artificial lagoons act as heat sinks, while greenery cools the air by providing shade and moisture. It’s a counterintuitive result for a country that ranks among the <a clicktracking="off" style="color:#0E29B5" href="https://www.greenmatch.co.uk/blog/countries-with-the-highest-carbon-footprint" target="_blank" class="dmlc">top five carbon emitters per capita</a>. But let’s be clear: 49 degrees Celsius (120 Fahrenheit) is hardly cool.</p></td></tr></tbody></table><div style="display:flex;justify-content:center;width:100%"><style data-emotion="css 1hu9vey">.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}</style><a href="https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.semafor.com%2Fnewsletter%2F03%2F05%2F2025%2Faramco-slashes-dividend%3Futm_source%3Dnowshare%26utm_medium%3Dgulf%26utm_campaign%3DCurio%23j&text=%F0%9F%9F%A1%20Aramco%20slashes%20dividend" aria-label="Share with Twitter" target="_blank" rel="noopener noreferrer" class="dmyt 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#575757;border-radius:999px">Semafor Spotlight</span><span></span></td></tr></tbody></table><table><tbody><tr><td style="font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px"><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="A great read from Semafor Business." src="https://img.semafor.com/18c03bbd179240d7fcf47441bb3d050c0ad978bf-1340x380.png?w=1140&h=323&q=95&auto=format" width="570" height="323"></a><span></span><span></span><a href="#" style="display:block" clicktracking="off"><img style="display:block;width:100%;height:auto;padding-bottom:10px" alt="A person holds a stun gun." src="https://img.semafor.com/1e52886de1e40debf9830446461b4f1da0db1eb7-6869x5152.jpg?w=1140&h=855&q=95&auto=format" width="570" height="855"></a><figcaption style="font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px">Courtesy of Axon</figcaption><span></span><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><strong>The company that makes Tasers is looking to arm CEOs’ security teams with its “less lethal” weapons following the fatal shooting of UnitedHealthcare’s Brian Thompson</strong>, Semafor’s <a clicktracking="off" style="color:#0E29B5" href="https://www.semafor.com/article/03/03/2025/taser-supplier-axon-developing-covert-defense-weapons-for-ceos?utm_medium=business&utm_campaign=Corporate+Security&utm_source=newsletterlink" target="_blank" class="dmlc">Andrew Edgecliffe-Johnson reports</a>. </p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">“Over the next year, you might start to hear more about certain CEOs being protected by Taser,” said Josh Isner, president of Axon Enterprise, who said his business had received several inquiries from companies since Thompson’s killing. </p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em">In addition to the signature weapon it sells to law enforcement, Isner said the company was developing “more covert” devices that could be worn more comfortably in “an executive security type of scenario.” </p><p class="dmwt" style="margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em"><table cellpadding="0" cellspacing="0" 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src=\"https://static.semafor.com/_app/static/images/sunny-grey.cc900ae415c23500c794.png\" alt=\"sunny\" width=\"14\" height=\"14\" class=\"lmwi\" style=\"margin-top:-2px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cimg src=\"https://static.semafor.com/_app/static/images/sunny-grey.cc900ae415c23500c794.png\" alt=\"sunny\" width=\"16\" height=\"16\" style=\"display:none;margin-top:-2px\" class=\"dmwi\"\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cspan class=\"dmbt\" style=\"font-family:Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;font-size:12px;line-height:1.5;padding-left:2px;letter-spacing:-0.01em;color:#53524C;vertical-align:top;text-transform:uppercase\"\u003e\u0026nbsp;Vienna\u003c/span\u003e\u003c/div\u003e\u003c/td\u003e\u003ctd style=\"width:33.24%\"\u003e\u003cdiv style=\"text-align:right\" class=\"dmwd\"\u003e\u003cimg 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style=\"padding-top:10px;padding-bottom:10px\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cdiv class=\"dmyboc\" style=\"border-top:1px dashed #1f1d1a;border-color:#9C9A92\"\u003e\u003c/div\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\"12\"\u003e\u003cimg src=\"https://static.semafor.com/_app/static/images/spinning-earth.20870f74e29772523899.gif\" alt=\"rotating globe\" width=\"12\" height=\"12\" style=\"display:inline;vertical-align:baseline\"\u003e\u003c/td\u003e\u003ctd\u003e\u003cdiv style=\"color:#53524C;font-family:Helvetica;font-size:0.75rem;line-height:14px;font-style:normal;margin-left:10px;text-transform:uppercase;display:inline;vertical-align:baseline\"\u003eMarch 5, 2025\u003c/div\u003e\u003c/td\u003e\u003ctd style=\"text-align:right\"\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr style=\"vertical-align:top\"\u003e\u003ctd style=\"padding-top:35px\"\u003e\u003cimg src=\"https://static.semafor.com/_app/static/images/semafor-logo.8d23aae71cf96b98328e.png\" width=\"188\" height=\"31\" alt=\"semafor\"\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr style=\"vertical-align:top\"\u003e\u003ctd\u003e\u003ch1 class=\"dmbt\" style=\"font-family:Times New Roman;font-weight:400;font-size:42px;color:#1F1D1A;text-transform:capitalize;margin:0;line-height:1.2\"\u003eGulf\u003c/h1\u003e\u003c/td\u003e\u003ctd 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href=\"https://www.semafor.com/newsletters?utm_campaign=gulfweb\" clicktracking=\"off\" class=\"dmbt\" style=\"font-size:1.125rem;line-height:22px;vertical-align:top;text-decoration:none;font-family:Times New Roman, sans serif;color:#1f1d1a;position:relative\"\u003e\u003cspan\u003eSign up for our free newsletters\u003c/span\u003e\u003cspan style=\"margin-left:3px\"\u003e→\u003c/span\u003e\u003c/a\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/td\u003e\u003ctd width=\"10\"\u003e\u0026nbsp;\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd height=\"2\"\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid 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Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eOPEC+ phases out cuts\u003c/li\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eADNOC’s chemical push\u003c/li\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eArab leaders’ Gaza plan\u003c/li\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eObesity epidemic\u003c/li\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eIsraelis invest in Dubai\u003c/li\u003e\u003c/ol\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" src=\"https://img.semafor.com/5aa7937a5c57d63b6b584567a21cdbda5beafb89-1065x134.png?w=1140\u0026amp;h=143\u0026amp;q=95\u0026amp;auto=format\" width=\"570\" height=\"143\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003eIt’s hard to believe, but it’s been cooler in Dubai.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 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valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"b\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#b\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003e1\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding:10px 0px 19px\"\u003e\u003ch2 class=\"dmyt\" style=\"font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px\"\u003eAramco trims its dividend\u003c/h2\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding:0px 10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"The Saudi Aramco logo is pictured at an exhibition in Paris.\" src=\"https://img.semafor.com/e77db3213307c21ecf63ae5f5030489b9c571c5b-1600x1066.jpg?rect=1,0,1599,1066\u0026amp;w=1152\u0026amp;h=768\u0026amp;q=95\u0026amp;auto=format\" width=\"576\" height=\"768\"\u003e\u003c/a\u003e\u003cfigcaption style=\"font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px\"\u003eBenoit Tessier/Reuters\u003c/figcaption\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eSaudi Arabia’s government will forgo billions of dollars in income from its oil giant this year, giving up funds needed for economic diversification to fortify Aramco’s balance sheet. \u003c/strong\u003eAramco — \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.bloomberg.com/news/articles/2025-03-04/aramco-cuts-world-s-biggest-dividend-in-blow-to-saudi-budget?srnd=homepage-middle-east\" target=\"_blank\" class=\"dmlc\"\u003ewhich distributes the world’s biggest dividend\u003c/a\u003e — will reduce its payout to $85.4 billion in 2025, down from $124.2 billion last year, after weaker-than-expected oil prices resulted in lower profits. The decline is likely to persist after OPEC+ agreed to boost output, but Saudi could earn more from its bigger quota. The kingdom will be allowed to pump nearly 500,000 additional barrels per day by the end of the year. Aramco said an extra million bpd “could generate an \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.aramco.com/en/news-media/news/2025/aramco-announces-full-year-2024-results\" target=\"_blank\" class=\"dmlc\"\u003eadditional $12 billion in operating cash flow\u003c/a\u003e, based on 2024’s average price.”\u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003eAn $85 billion dividend is hefty, but Saudi Arabia’s transformation needs far more than that. Riyadh is forecasting a $27 billion budget deficit for 2025 and has turned to debt markets to fill the gap. Non-oil growth is outpacing the broader economy, but critics warn the kingdom remains heavily dependent on sovereign wealth fund investments — which are in part funded by Aramco payouts.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca 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11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"c\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#c\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003e2\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding:10px 0px 19px\"\u003e\u003ch2 class=\"dmyt\" style=\"font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px\"\u003eAnalysis: OPEC+ decision confounds\u003c/h2\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding:0px 10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"Amena Bakr headshot \" src=\"https://img.semafor.com/6a53cd968e06c3576e1891a41f3eb297bbd1110d-1600x488.jpg?w=1152\u0026amp;h=351\u0026amp;q=95\u0026amp;auto=format\" width=\"576\" height=\"351\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eMost oil market watchers were expecting OPEC+ would again delay unwinding its voluntary cuts, but the group defied expectations, \u003c/strong\u003eAmena Bakr, the head of Middle East Energy \u0026amp; OPEC+ research at global commodities data firm Kpler, writes in a Semafor column.\u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e“\u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.semafor.com/article/03/04/2025/analysis-opec-stays-the-course-defying-market-expectations\" target=\"_blank\" class=\"dmlc\"\u003eOPEC+’s decision signals that demand can support additional supply\u003c/a\u003e and that nearly three years of cuts have tightened stock levels,” Bakr writes. “A key component of the deal is the UAE’s long-awaited 300,000-bpd quota adjustment over 18 months, which would allow the country to move closer to its production capacity and enhance group cohesion.”\u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\" style=\"padding-top:10px;padding-bottom:10px\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cdiv class=\"dmyboc\" style=\"border-top:1px dashed #1f1d1a\"\u003e\u003c/div\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd valign=\"top\"\u003e\u003cp class=\"dmwt\" style=\"font-family:Helvetica;font-size:1.125rem;line-height:120%;margin:0\"\u003eRead on for Bakr’s insight \u003ca clicktracking=\"off\" href=\"https://www.semafor.com/article/03/04/2025/analysis-opec-stays-the-course-defying-market-expectations?utm_medium=gulf\u0026amp;utm_campaign=flagshipnumbered2\u0026amp;utm_source=nowcta\" style=\"color:#243bb5;text-decoration:none\"\u003einto why the decision serves as a “warning shot” to members who have repeatedly breached quotas\u003c/a\u003e.\u0026nbsp;→\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/p\u003e\u003cdiv style=\"height:10px\"\u003e\u003c/div\u003e\u003cp\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca 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7.98432 12.7405 7.51897 12.7405ZM7.51897 11.7866C7.80223 11.7866 8.06019 11.7148 8.29287 11.5712C8.53566 11.4277 8.72787 11.2328 8.8695 10.9866C9.02124 10.7405 9.09712 10.4738 9.09712 10.1866C9.09712 9.8892 9.02124 9.62253 8.8695 9.38663C8.72787 9.14048 8.53566 8.94561 8.29287 8.80202C8.06019 8.65843 7.80223 8.58663 7.51897 8.58663C7.24583 8.58663 6.98786 8.65843 6.74507 8.80202C6.50228 8.94561 6.30501 9.14048 6.15326 9.38663C6.01163 9.62253 5.94082 9.8892 5.94082 10.1866C5.94082 10.4738 6.01163 10.7405 6.15326 10.9866C6.29489 11.2225 6.4871 11.4174 6.72989 11.5712C6.97269 11.7148 7.23571 11.7866 7.51897 11.7866ZM12.481 6.89432C12.7643 6.89432 13.0223 6.82253 13.2549 6.67894C13.4977 6.53535 13.6899 6.34048 13.8316 6.09432C13.9833 5.84817 14.0592 5.5815 14.0592 5.29432C14.0592 5.0174 13.9884 4.75586 13.8467 4.50971C13.7051 4.26356 13.5129 4.06868 13.2701 3.92509C13.0374 3.77125 12.7744 3.69433 12.481 3.69433C12.1978 3.69433 11.9347 3.77125 11.692 3.92509C11.4492 4.06868 11.257 4.26356 11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"d\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#d\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003e3\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding:10px 0px 19px\"\u003e\u003ch2 class=\"dmyt\" style=\"font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px\"\u003eADNOC, OMV create chemicals giant\u003c/h2\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding:0px 10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"ADNOC headquarters in Abu Dhabi\" src=\"https://img.semafor.com/9c446c2d11b75bfeff412c42538afc5a2fadc1a8-1600x1066.jpg?rect=1,0,1599,1066\u0026amp;w=1152\u0026amp;h=768\u0026amp;q=95\u0026amp;auto=format\" width=\"576\" height=\"768\"\u003e\u003c/a\u003e\u003cfigcaption style=\"font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px\"\u003eChristopher Pike/Reuters\u003c/figcaption\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eAbu Dhabi National Oil Co. (ADNOC) and Austrian energy and chemicals producer OMV are merging some petrochemicals and plastics units to form Borouge Group, a company valued at more than $60 billion. \u003c/strong\u003eBorouge will be headquartered in Austria, with a regional base in the UAE and offices in Canada and Singapore. The company will acquire Canada’s Nova Chemicals — currently owned by Abu Dhabi sovereign wealth fund Mubadala — positioning it as the \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.adnoc.ae/en/news-and-media/press-releases/2025/adnoc-and-omv-to-create-60-billion-global-polyolefins-champion\" target=\"_blank\" class=\"dmlc\"\u003eworld’s fourth-largest producer of polyolefins\u003c/a\u003e, which are plastics used in everything from packaging and toys to car bumpers and medical devices. ADNOC plans to transfer its stake in Borouge to XRG, its lower-carbon energy and chemicals, and global gas investment platform.\u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003eGulf oil producers have long expanded into petrochemicals to boost returns from crude production and meet rising demand in a market projected to double by 2050, a strategy that contrasts with international oil companies’ apparent shift away from refined products. BP last month launched a “\u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-launches-strategic-review-of-global-lubricants-business.html\" target=\"_blank\" class=\"dmlc\"\u003estrategic review\u003c/a\u003e” of its global lubricants business, while \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.wsj.com/business/deals/shell-explores-sale-of-chemicals-assets-in-u-s-and-europe-170b6d02\" target=\"_blank\" class=\"dmlc\"\u003eShell is considering selling\u003c/a\u003e its chemicals assets in the US and Europe, according to The Wall Street Journal.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 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align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"e\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#e\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003e4\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding:10px 0px 19px\"\u003e\u003ch2 class=\"dmyt\" style=\"font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px\"\u003eUS rejects Arab plan for Gaza\u003c/h2\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding:0px 10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"Egyptian President Abdel Fattah el-Sisi poses for a picture with leaders as Egypt hosts emergency Arab summit to discuss Palestinian developments\" src=\"https://img.semafor.com/53935369bb14d98deeaddddb466db0a7b8795e63-1600x759.jpg?rect=0,1,1600,758\u0026amp;w=1152\u0026amp;h=546\u0026amp;q=95\u0026amp;auto=format\" width=\"576\" height=\"546\"\u003e\u003c/a\u003e\u003cfigcaption style=\"font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px\"\u003eEgyptian Presidency/Reuters\u003c/figcaption\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eArab leaders endorsed Egypt’s $53 billion Gaza reconstruction plan, only for the US to promptly reject it. \u003c/strong\u003eThe Arab League’s emergency summit in Cairo concluded with the first unified counter to US President Donald Trump’s proposal to “take over” Gaza and displace Palestinians. The Arab plan estimates a \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.thenationalnews.com/news/mena/2025/03/04/arab-summit-egypt-alternative-trump-gaza-plan/\" target=\"_blank\" class=\"dmlc\"\u003ethree-to-five-year rebuilding process\u003c/a\u003e, with Gazans remaining in temporary housing rather than leaving the enclave. Governance would be overseen by a small technocratic committee for six months before transitioning to a revamped Palestinian Authority.\u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e“The current proposal does not address the reality that \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://edition.cnn.com/2025/03/04/middleeast/us-arab-gaza-reconstruction-plan-rejects-hnk-intl/index.html\" target=\"_blank\" class=\"dmlc\"\u003eGaza is currently uninhabitable\u003c/a\u003e and residents cannot humanely live in a territory covered in debris and unexploded ordnance,” a US National Security Council spokesman said. Trump, in his 100-minute congressional address on Tuesday, didn’t mention his plan to redevelop Gaza into the “Riviera of the Middle East.”\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca 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7.98432 12.7405 7.51897 12.7405ZM7.51897 11.7866C7.80223 11.7866 8.06019 11.7148 8.29287 11.5712C8.53566 11.4277 8.72787 11.2328 8.8695 10.9866C9.02124 10.7405 9.09712 10.4738 9.09712 10.1866C9.09712 9.8892 9.02124 9.62253 8.8695 9.38663C8.72787 9.14048 8.53566 8.94561 8.29287 8.80202C8.06019 8.65843 7.80223 8.58663 7.51897 8.58663C7.24583 8.58663 6.98786 8.65843 6.74507 8.80202C6.50228 8.94561 6.30501 9.14048 6.15326 9.38663C6.01163 9.62253 5.94082 9.8892 5.94082 10.1866C5.94082 10.4738 6.01163 10.7405 6.15326 10.9866C6.29489 11.2225 6.4871 11.4174 6.72989 11.5712C6.97269 11.7148 7.23571 11.7866 7.51897 11.7866ZM12.481 6.89432C12.7643 6.89432 13.0223 6.82253 13.2549 6.67894C13.4977 6.53535 13.6899 6.34048 13.8316 6.09432C13.9833 5.84817 14.0592 5.5815 14.0592 5.29432C14.0592 5.0174 13.9884 4.75586 13.8467 4.50971C13.7051 4.26356 13.5129 4.06868 13.2701 3.92509C13.0374 3.77125 12.7744 3.69433 12.481 3.69433C12.1978 3.69433 11.9347 3.77125 11.692 3.92509C11.4492 4.06868 11.257 4.26356 11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"f\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#f\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003e5\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding:10px 0px 19px\"\u003e\u003ch2 class=\"dmyt\" style=\"font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px\"\u003eYouth obesity expected to surge\u003c/h2\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding:0px 10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"2050\" src=\"https://img.semafor.com/89a5dcb905f533ad50285f5ba240f86ff01e9114-1005x330.png?w=1152\u0026amp;h=378\u0026amp;q=95\u0026amp;auto=format\" width=\"576\" height=\"378\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eThe year by which the Middle East and North Africa will have the highest proportion of overweight and obese youths in the world, \u003c/strong\u003eaccording to a new study published in the medical journal The Lancet. \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(25)00397-6/fulltext#app-1\" target=\"_blank\" class=\"dmlc\"\u003eMore than half of young people\u003c/a\u003e aged 5-24 in the region are expected to be overweight or obese by then, driven by the spread of highly processed foods and more sedentary lifestyles resulting from urbanization. The health and economic toll is already significant — obesity-related deaths and disabilities are estimated to \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.thenationalnews.com/uae/2024/03/04/world-obesity-day-uae-annual-bill-for-condition-expected-to-hit-12bn/\" target=\"_blank\" class=\"dmlc\"\u003ecost the UAE around $12 billion a year\u003c/a\u003e. The region isn’t an outlier. The Lancet study called the rise of obesity a “global epidemic” that requires aggressive measures to be reined in.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca 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1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca href=\"mailto:?subject=%F0%9F%9F%A1%20Aramco%20slashes%20dividend%20%7C%20Semafor\u0026amp;body=https://www.semafor.com/newsletter/03/05/2025/aramco-slashes-dividend?utm_source=nowshare%26utm_medium=gulf%26utm_campaign=flagshipnumbered5#f\" aria-label=\"Share with Email\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"dmyt css-1hu9vey\"\u003e\u003csvg width=\"20\" height=\"15\" viewBox=\"0 0 20 15\" fill=\"none\" xmlns=\"http://www.w3.org/2000/svg\" 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7.98432 12.7405 7.51897 12.7405ZM7.51897 11.7866C7.80223 11.7866 8.06019 11.7148 8.29287 11.5712C8.53566 11.4277 8.72787 11.2328 8.8695 10.9866C9.02124 10.7405 9.09712 10.4738 9.09712 10.1866C9.09712 9.8892 9.02124 9.62253 8.8695 9.38663C8.72787 9.14048 8.53566 8.94561 8.29287 8.80202C8.06019 8.65843 7.80223 8.58663 7.51897 8.58663C7.24583 8.58663 6.98786 8.65843 6.74507 8.80202C6.50228 8.94561 6.30501 9.14048 6.15326 9.38663C6.01163 9.62253 5.94082 9.8892 5.94082 10.1866C5.94082 10.4738 6.01163 10.7405 6.15326 10.9866C6.29489 11.2225 6.4871 11.4174 6.72989 11.5712C6.97269 11.7148 7.23571 11.7866 7.51897 11.7866ZM12.481 6.89432C12.7643 6.89432 13.0223 6.82253 13.2549 6.67894C13.4977 6.53535 13.6899 6.34048 13.8316 6.09432C13.9833 5.84817 14.0592 5.5815 14.0592 5.29432C14.0592 5.0174 13.9884 4.75586 13.8467 4.50971C13.7051 4.26356 13.5129 4.06868 13.2701 3.92509C13.0374 3.77125 12.7744 3.69433 12.481 3.69433C12.1978 3.69433 11.9347 3.77125 11.692 3.92509C11.4492 4.06868 11.257 4.26356 11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"g\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#g\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003e6\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding:10px 0px 19px\"\u003e\u003ch2 class=\"dmyt\" style=\"font-family:Times New Roman;font-size:2rem;line-height:110%;font-weight:400;margin:0 10px\"\u003eIsraelis drawn to Dubai property\u003c/h2\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding:0px 10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"General view of the Burj Khalifa skyline in Dubai\" src=\"https://img.semafor.com/441fca9af52379db0d51ba4c1c8b1b790707cb12-1600x1200.jpg?w=1152\u0026amp;h=864\u0026amp;q=95\u0026amp;auto=format\" width=\"576\" height=\"864\"\u003e\u003c/a\u003e\u003cfigcaption style=\"font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px\"\u003eAbdel Hadi Ramahi/Reuters\u003c/figcaption\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eIsraeli investors are pouring into Dubai’s property market, drawn by prices nearly half those in Tel Aviv and higher returns. \u003c/strong\u003eOne- and two-bedroom apartments priced between 1-2 million shekels ($278,000-$556,000) are proving the most popular, with buyers targeting more affordable areas like Jumeirah Village Circle and Business Bay. A Tel Aviv realtor told The Times of Israel that \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.timesofisrael.com/as-a-tax-haven-with-affordable-properties-dubai-draws-israeli-investors-despite-war/\" target=\"_blank\" class=\"dmlc\"\u003e1 million shekels isn’t enough for a deposit\u003c/a\u003e on similar units in Israel, which yield around 3% annually. 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7.98432 12.7405 7.51897 12.7405ZM7.51897 11.7866C7.80223 11.7866 8.06019 11.7148 8.29287 11.5712C8.53566 11.4277 8.72787 11.2328 8.8695 10.9866C9.02124 10.7405 9.09712 10.4738 9.09712 10.1866C9.09712 9.8892 9.02124 9.62253 8.8695 9.38663C8.72787 9.14048 8.53566 8.94561 8.29287 8.80202C8.06019 8.65843 7.80223 8.58663 7.51897 8.58663C7.24583 8.58663 6.98786 8.65843 6.74507 8.80202C6.50228 8.94561 6.30501 9.14048 6.15326 9.38663C6.01163 9.62253 5.94082 9.8892 5.94082 10.1866C5.94082 10.4738 6.01163 10.7405 6.15326 10.9866C6.29489 11.2225 6.4871 11.4174 6.72989 11.5712C6.97269 11.7148 7.23571 11.7866 7.51897 11.7866ZM12.481 6.89432C12.7643 6.89432 13.0223 6.82253 13.2549 6.67894C13.4977 6.53535 13.6899 6.34048 13.8316 6.09432C13.9833 5.84817 14.0592 5.5815 14.0592 5.29432C14.0592 5.0174 13.9884 4.75586 13.8467 4.50971C13.7051 4.26356 13.5129 4.06868 13.2701 3.92509C13.0374 3.77125 12.7744 3.69433 12.481 3.69433C12.1978 3.69433 11.9347 3.77125 11.692 3.92509C11.4492 4.06868 11.257 4.26356 11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"h\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#h\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003eThe World Economy Summit\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"A graphic promoting Semafor’s World Economy Summit event.\" src=\"https://img.semafor.com/473fe97a4a07933ac5b76315b1998366986a67cb-1600x1180.jpg?w=1140\u0026amp;h=841\u0026amp;q=95\u0026amp;auto=format\" width=\"570\" height=\"841\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eConvening over three days in Washington, DC, the World Economy Summit 2025 is dedicated to advancing dialogues that catalyze global growth and fortify resilience in an uncertain, shifting global economy.\u003c/strong\u003e This week, we’re announcing our world-class program and the opening of delegate registration. Twelve sessions over three days will focus on the dynamic forces shaping the global economic and geopolitical system. Each session is designed to inspire transformative, newsmaking dialogue to shape a more prosperous economy. \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://events.semafor.com/WorldEconomySummit2025\" target=\"_blank\" class=\"dmlc\"\u003eApply to be an in-person delegate\u003c/a\u003e or \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://events.semafor.com/VirtualWorldEconomySummit2025\" target=\"_blank\" class=\"dmlc\"\u003esign up for a virtual pass\u003c/a\u003e to watch every session live.\u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eApr. 23-25 | Washington, DC | \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://events.semafor.com/WorldEconomySummit2025\" target=\"_blank\" class=\"dmlc\"\u003eLearn 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4.26356 11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"i\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#i\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003eKaman\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" src=\"https://img.semafor.com/81c98e8b27be341b0c3321ca848218d094fce98b-1139x417.png?w=1140\u0026amp;h=417\u0026amp;q=95\u0026amp;auto=format\" width=\"570\" height=\"417\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cdiv class=\"dmyboc\" style=\"border-top:1px dashed #1f1d1a;border-color:#9C9A92\"\u003e\u003c/div\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ch3 class=\"dmwt\" style=\"line-height:180%;font-size:1.375rem;margin-top:8px;margin-bottom:4px\"\u003eEducation\u003c/h3\u003e\u003cul style=\"clear:both;padding-left:30px\"\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eThe\u003cstrong\u003e \u003c/strong\u003eUAE\u003cstrong\u003e \u003c/strong\u003e— which has had an AI minister since 2017 — is launching an undergraduate program in the field. The \u003cstrong\u003eMohamed bin Zayed University of Artificial Intelligence\u003c/strong\u003e offers \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.wam.ae/article/biha3ke-mbzuai-launches-first-undergraduate-programme\" target=\"_blank\" class=\"dmlc\"\u003edegrees in AI business and AI engineering\u003c/a\u003e, and students will learn from the teams that developed Arabic large language model JAIS.\u003c/li\u003e\u003c/ul\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cdiv class=\"dmyboc\" style=\"border-top:1px dashed #1f1d1a;border-color:#9C9A92\"\u003e\u003c/div\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ch3 class=\"dmwt\" style=\"line-height:180%;font-size:1.375rem;margin-top:8px;margin-bottom:4px\"\u003eFinance\u003c/h3\u003e\u003cul style=\"clear:both;padding-left:30px\"\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eSaudi Arabia’s \u003cstrong\u003ePublic Investment Fund\u003c/strong\u003e plans to invest in \u003cstrong\u003eGoldman Sachs\u003c/strong\u003e-managed funds focused on private credit and public equity in the kingdom and the Gulf. The agreement aims to \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.pif.gov.sa/en/news-and-insights/press-releases/2025/pif-and-goldman-sachs-asset-management-sign-an-mou-to-partner-on-investment-in-saudi-arabia/?utm_source=linkedin\u0026amp;utm_medium=social\u0026amp;utm_campaign=pressrelease\" target=\"_blank\" class=\"dmlc\"\u003estrengthen Saudi’s asset management industry\u003c/a\u003e and encourage other foreign managers to expand in the kingdom. BlackRock, State Street, and other local and foreign firms have established investment funds backed by PIF.\u003c/li\u003e\u003c/ul\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cdiv class=\"dmyboc\" style=\"border-top:1px dashed #1f1d1a;border-color:#9C9A92\"\u003e\u003c/div\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ch3 class=\"dmwt\" style=\"line-height:180%;font-size:1.375rem;margin-top:8px;margin-bottom:4px\"\u003eLogistics\u003c/h3\u003e\u003cul style=\"clear:both;padding-left:30px\"\u003e\u003cli class=\"dmwt\" style=\"margin:0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em;margin-left:5px;margin-right:10px;margin-bottom:4px;padding-left:0px\"\u003eIt doesn’t just feel like delivery \u003cstrong\u003emotorcycles\u003c/strong\u003e are everywhere in Riyadh — it’s quantifiable. \u003cstrong\u003eSaudi Arabia\u003c/strong\u003e’s \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.aleqt.com/2025/03/02/article_2757859.html\" target=\"_blank\" class=\"dmlc\"\u003eannual motorcycle imports jumped 44%\u003c/a\u003e in 2024, driven by surging demand in e-commerce, food delivery, and parcel services. The rapid growth of the sector is also prompting new regulations and licensing to streamline operations. — Al-Eqtisadiah\u003c/li\u003e\u003c/ul\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca 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Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"j\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#j\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003eCurio\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"A chart showing summertime land temperatures in Gulf cities.\" src=\"https://img.semafor.com/8d246e841c9a14a54dc5e937cc0b4e9f6b8a81fc-1066x1130.jpg?w=1140\u0026amp;h=1208\u0026amp;q=95\u0026amp;auto=format\" width=\"570\" height=\"1208\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eAs global temperatures consistently hit record highs, Dubai has recorded a surprising cooling trend over the past 25 years.\u003c/strong\u003e A new study found that \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.thenationalnews.com/news/uae/2025/02/28/uae-weather-global-warming-dubai-temperatures/\" target=\"_blank\" class=\"dmlc\"\u003eland surface temperatures in urban areas fell\u003c/a\u003e from 52 degrees Celsius in 1998 to 49 degrees in 2023, which researchers attribute to the expansion of green spaces and water bodies. Large inland water features such as Dubai Creek and artificial lagoons act as heat sinks, while greenery cools the air by providing shade and moisture. It’s a counterintuitive result for a country that ranks among the \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.greenmatch.co.uk/blog/countries-with-the-highest-carbon-footprint\" target=\"_blank\" class=\"dmlc\"\u003etop five carbon emitters per capita\u003c/a\u003e. But let’s be clear: 49 degrees Celsius (120 Fahrenheit) is hardly cool.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv style=\"display:flex;justify-content:center;width:100%\"\u003e\u003cstyle data-emotion=\"css 1hu9vey\"\u003e.css-1hu9vey{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;gap:4px;padding:10px;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;font-family:Helvetica;font-size:0.8125rem;line-height:120%;color:#53524c;-webkit-text-decoration:none;text-decoration:none;}.css-1hu9vey:hover{cursor:pointer;}\u003c/style\u003e\u003ca 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7.98663C6.62873 7.75074 7.05362 7.63279 7.51897 7.63279C7.77188 7.63279 8.01467 7.67381 8.24734 7.75586C8.49014 7.82766 8.72281 7.94048 8.94537 8.09432L10.3566 6.66356C10.2251 6.46868 10.1239 6.25843 10.0531 6.03279C9.99241 5.79689 9.96206 5.55074 9.96206 5.29432C9.96206 4.83279 10.0733 4.40715 10.2959 4.0174C10.5286 3.62766 10.8321 3.31997 11.2064 3.09432C11.5908 2.85843 12.0157 2.74048 12.481 2.74048C12.9464 2.74048 13.3662 2.85843 13.7405 3.09432C14.1249 3.31997 14.4284 3.62766 14.651 4.0174C14.8837 4.40715 15 4.83279 15 5.29432C15 5.75586 14.8837 6.1815 14.651 6.57125C14.4284 6.96099 14.1249 7.27381 13.7405 7.50971C13.3662 7.73535 12.9464 7.84817 12.481 7.84817C12.218 7.84817 11.9651 7.81227 11.7223 7.74048C11.4795 7.65843 11.2418 7.53535 11.0091 7.37125L9.61305 8.78663C9.75468 8.99176 9.8609 9.21227 9.93171 9.44817C10.0025 9.68407 10.0379 9.93022 10.0379 10.1866C10.0379 10.6482 9.9216 11.0738 9.68892 11.4636C9.46636 11.8533 9.16287 12.1661 8.77845 12.402C8.40415 12.6277 7.98432 12.7405 7.51897 12.7405ZM7.51897 11.7866C7.80223 11.7866 8.06019 11.7148 8.29287 11.5712C8.53566 11.4277 8.72787 11.2328 8.8695 10.9866C9.02124 10.7405 9.09712 10.4738 9.09712 10.1866C9.09712 9.8892 9.02124 9.62253 8.8695 9.38663C8.72787 9.14048 8.53566 8.94561 8.29287 8.80202C8.06019 8.65843 7.80223 8.58663 7.51897 8.58663C7.24583 8.58663 6.98786 8.65843 6.74507 8.80202C6.50228 8.94561 6.30501 9.14048 6.15326 9.38663C6.01163 9.62253 5.94082 9.8892 5.94082 10.1866C5.94082 10.4738 6.01163 10.7405 6.15326 10.9866C6.29489 11.2225 6.4871 11.4174 6.72989 11.5712C6.97269 11.7148 7.23571 11.7866 7.51897 11.7866ZM12.481 6.89432C12.7643 6.89432 13.0223 6.82253 13.2549 6.67894C13.4977 6.53535 13.6899 6.34048 13.8316 6.09432C13.9833 5.84817 14.0592 5.5815 14.0592 5.29432C14.0592 5.0174 13.9884 4.75586 13.8467 4.50971C13.7051 4.26356 13.5129 4.06868 13.2701 3.92509C13.0374 3.77125 12.7744 3.69433 12.481 3.69433C12.1978 3.69433 11.9347 3.77125 11.692 3.92509C11.4492 4.06868 11.257 4.26356 11.1153 4.50971C10.9737 4.74561 10.9029 5.00715 10.9029 5.29432C10.9029 5.5815 10.9737 5.84817 11.1153 6.09432C11.2671 6.34048 11.4593 6.53535 11.692 6.67894C11.9347 6.82253 12.1978 6.89432 12.481 6.89432Z\" fill=\"currentColor\"\u003e\u003c/path\u003e\u003c/svg\u003eCopy\u0026nbsp;link\u003c/span\u003e\u003c/button\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/div\u003e\u003cdiv\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"line-height:25px;padding:20px 0px\"\u003e\u003cspan class=\"lmda\" style=\"font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmda\" style=\"display:none;font-size:30px;font-family:Times New Roman;color:#575757\"\u003e↓\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable class=\"dmybo\" width=\"99%\" style=\"border:1px solid #575757;mso-border-right-alt:1px solid #575757\" id=\"k\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"padding-top:20px;padding-bottom:10px\"\u003e\u003ctable id=\"#k\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd align=\"center\" style=\"padding-bottom:10px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cspan class=\"dmyt dmybo\" style=\"font-family:Helvetica;width:fit-content;padding:4px 10px;font-size:1.125rem;line-height:21px;color:#575757;margin:0 8px;word-break:break-word;display:inline-block;border:1px solid #575757;border-radius:999px\"\u003eSemafor Spotlight\u003c/span\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd style=\"font-size:1.125rem;font-family:Times New Roman;line-height:32px;font-weight:400;color:#1F1D1A;padding:0px 10px 20px\"\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"A great read from Semafor Business.\" src=\"https://img.semafor.com/18c03bbd179240d7fcf47441bb3d050c0ad978bf-1340x380.png?w=1140\u0026amp;h=323\u0026amp;q=95\u0026amp;auto=format\" width=\"570\" height=\"323\"\u003e\u003c/a\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003ca href=\"#\" style=\"display:block\" clicktracking=\"off\"\u003e\u003cimg style=\"display:block;width:100%;height:auto;padding-bottom:10px\" alt=\"A person holds a stun gun.\" src=\"https://img.semafor.com/1e52886de1e40debf9830446461b4f1da0db1eb7-6869x5152.jpg?w=1140\u0026amp;h=855\u0026amp;q=95\u0026amp;auto=format\" width=\"570\" height=\"855\"\u003e\u003c/a\u003e\u003cfigcaption style=\"font-family:Courier;font-size:0.75rem;font-weight:400;display:block;line-height:120%;padding:0px 0px 10px\"\u003eCourtesy of Axon\u003c/figcaption\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003cstrong\u003eThe company that makes Tasers is looking to arm CEOs’ security teams with its “less lethal” weapons following the fatal shooting of UnitedHealthcare’s Brian Thompson\u003c/strong\u003e, Semafor’s \u003ca clicktracking=\"off\" style=\"color:#0E29B5\" href=\"https://www.semafor.com/article/03/03/2025/taser-supplier-axon-developing-covert-defense-weapons-for-ceos?utm_medium=business\u0026amp;utm_campaign=Corporate+Security\u0026amp;utm_source=newsletterlink\" target=\"_blank\" class=\"dmlc\"\u003eAndrew Edgecliffe-Johnson reports\u003c/a\u003e. \u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e“Over the next year, you might start to hear more about certain CEOs being protected by Taser,” said Josh Isner, president of Axon Enterprise, who said his business had received several inquiries from companies since Thompson’s killing. \u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003eIn addition to the signature weapon it sells to law enforcement, Isner said the company was developing “more covert” devices that could be worn more comfortably in “an executive security type of scenario.” \u003c/p\u003e\u003cp class=\"dmwt\" style=\"margin:0px 0px 20px 0px;padding:0px;font-family:Times New Roman;color:#1F1D1A;font-style:normal;font-weight:400;font-size:1.25rem;line-height:120%;letter-spacing:-0.02em\"\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"100%\" align=\"left\" valign=\"top\" style=\"padding-top:10px;padding-bottom:10px\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cspan\u003e\u003c!--[if !mso]\u003e\u003c! --\u003e\u003c/span\u003e\u003cdiv class=\"dmyboc\" style=\"border-top:1px dashed #1f1d1a\"\u003e\u003c/div\u003e\u003cspan\u003e\u003c!--\u003c![endif]--\u003e\u003c/span\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd valign=\"top\"\u003e\u003cp class=\"dmwt\" style=\"font-family:Helvetica;font-size:1.125rem;line-height:120%;margin:0\"\u003eFor more analysis on the world of business and finance, \u003ca clicktracking=\"off\" href=\"https://www.semafor.com/newsletters/business?utm_medium=gulf\u0026amp;utm_campaign=semaforspotlight\u0026amp;utm_source=nowcta\" style=\"color:#243bb5;text-decoration:none\"\u003esubscribe to Semafor’s twice-weekly Business newsletter.\u003c/a\u003e\u0026nbsp;→\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/p\u003e\u003cdiv style=\"height:10px\"\u003e\u003c/div\u003e\u003cp\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv 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