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Saudi-backed Lucid Motors hires restructuring firm to cut costs

The review comes as the Public Investment Fund reins in spending for its portfolio companies, slows parts of NEOM and cuts support for LIV Golf

DP World plans UAE port that would bypass Strait of Hormuz

The move is part of a wider UAE effort to protect its economy after conflict with Iran sharply reduced traffic at Jebel Ali, the country's biggest port

Qatar mourns death of former Emir, Sheikh Hamad bin Khalifa

The nation held funeral prayers on Sunday and planned to bury Sheikh Hamad at Lusail Cemetery, while declaring four days of national mourning

UAE’s e& sells its Vodafone stake for $6 billion to France’s Niel

Vodafone has been shrinking its portfolio, selling businesses in Spain and Italy, while merging with Three UK to create No. 1 British mobile operator

Iran war’s disruption showing up in Gulf corporate earnings

Lenders including Saudi National Bank and Emirates NBD are likely to show the effects of weaker trade finance, tourism and international spending

Quick Hits

PROPERTY SLUMP

Ras Al Khaimah’s property boom fades amid war-related troubles

electric slide

Saudi-backed Lucid Motors hires restructuring firm to cut costs

The Daily Circuit: PIF tightens screws on Lucid + PureHealth-Aldar project

power shift

Saudi Energy Minister to take on manufacturing and minerals post

safe harbor

DP World plans UAE port that would bypass Strait of Hormuz

The Daily Circuit: DP World plans bypass port + Saudi cabinet shuffle

gulf builder

Qatar mourns death of former Emir, Sheikh Hamad bin Khalifa

preferred partner

U.S. expands UAE access to chips, satellites, military technology

The Daily Circuit: U.S. eases UAE chip access + Qatar’s former Emir dies

PRECIOUS packages

DHL sees silver lining in war’s impact on shipping logistics

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