Forbes Middle East

Talaat Moustafa Group (TMG) Saudi for Real Estate Development has signed a preliminary agreement with ROSHN Group, a Public Investment Fund (PIF) company, to establish a joint venture to explore the development of a mixed-use project in Riyadh with more than 55,000 residential units, adding a specific project to the broader partnership the companies announced with PIF in June.Ag...

President Donald Trump on Saturday said he will create an “AI Force” and appoint an “AI Czar” to monitor bad actors in the artificial intelligence sector as fears about the enterprising technology continue to grow in and outside the industry.Key factsTrump, who has brushed off concerns over rapidly evolving AI frontier models as a “hoax,” said the new agency will not “hinder or ...

The Turkish banking regulator has revoked the operating license of the Istanbul branch of Iranian lender Bank Mellat, ending its 44-year presence in the country, according to an official notice published in Türkiye's Official Gazette on Saturday. Regulatory interventionThe Banking Regulation and Supervision Agency's (BDDK) regulatory crackdown comes as Washington increases press...

Saudi Arabia has sold about 60 million barrels of crude for September and October shipments from Ras Tanura, with exports averaging 1 million to 1.5 million barrels per day as Saudi Aramco offsets disruptions to its Red Sea export route, Reuters reported Friday, citing trade sources. Gulf exportsThe crude will be loaded through ship-to-ship transfers at Oman’s Sohar port, provid...

The US Federal Communications Commission (FCC) has approved Thursday foreign investment in Paramount Skydance’s planned $110 billion acquisition of Warner Bros. Discovery, allowing Saudi, UAE, and Qatari investors to hold substantial non-voting stakes. Gulf investorsThe FCC’s Media Bureau waived the 25% benchmark for foreign equity ownership in Paramount and approved specific in...