Masdar, the UAE’s sustainable energy company, will sell a 60% stake in its portfolio of nine wind farms in Portugal to Exus Renewables, while retaining a 40% holding.

The projects have entered the final stage of repowering and are due for completion by 2027, the companies said in a statement on Thursday.

Once fully operational, the upgraded sites are expected to supply clean electricity to more than 200,000 households and cut carbon emissions by about 41.7 kilotonnes a year.

Masdar is seeking to expand across the Iberian peninsula and wider Europe, targeting a global portfolio capacity of 100 gigawatts by 2030. 

A $111 billion Gulf-backed bid for Hollywood studio Warner Bros. Discovery appears to have prevailed after streaming giant Netflix dropped out of the fight.

Warner Bros. CEO David Zaslav said the $31-a-share offer from David Ellison’s Paramount Skydance would “create tremendous value for our shareholders.”

Paramount has aggressively pursued Warner Bros., launching multiple successive offers backed by various configurations of Gulf sovereign wealth funds, including the Qatar Investment Authority and Saudi Arabia’s Public Investment Fund.

In December the newly-formed Abu Dhabi state investment vehicle L’imad Holding Co. joined the fray by backing a $108 billion hostile offer. L’imad’s total commitment under the revised offer is not yet known.

Netflix said in a statement that it pulled out of the bidding because at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive.”

Paramount will still have to pass government hurdles before the sale can proceed. The US Senate Judiciary Committee scheduled a hearing for March 4 to examine the Warner Bros. sale following a hearing earlier this month, with Ellison invited to attend.

Saudi Aramco has begun production from its giant Jafurah shale development, marking the kingdom’s biggest move into unconventional gas as it seeks to expand supplies beyond oil.

The $100 billion project – the largest shale gas field outside North America – relies on fracking and horizontal drilling, the same techniques that helped the U.S. become the world’s top oil and gas producer by unlocking hydrocarbons trapped in dense rock.

Aramco, the world’s largest oil company, said in a statement on Thursday that the development will allow Saudi Arabia to burn less crude at home, helping free up about 1 million barrels a day of oil for export by the end of the decade.

The company is targeting total gas and associated liquids output of about 6 million barrels of oil equivalent a day by 2030, roughly an 80% increase from 2021 levels.

Aramco estimates the expanded gas program will generate about $12 billion to $15 billion in incremental cash flow by the end of the decade. 

Abu Dhabi artificial intelligence group G42 says it will implement a new framework to tightly control advanced U.S. chips used in its data centers, seeking to reassure Washington that sensitive technology will be safeguarded and used in line with export rules.

The company plans to embed monitoring, geolocation verification and cryptographic tracking directly into its infrastructure, creating what it described as a “common operating picture” that offers continuous visibility into how the semiconductors are used.

Jacob Helberg, U.S. Undersecretary of State for Economic Growth, Energy and Environment, said the approach could be “unprecedented,” giving American policymakers confidence that the UAE-based clusters cannot be accessed improperly or diverted to restricted users.

The effort comes amid longstanding U.S. concerns that Gulf states could become backdoors for China to obtain advanced American technology, an issue that has complicated previous export approvals.

If successful, G42 said its model could be expanded across partners in the U.S.-led Pax Silica initiative, positioning the UAE firm as a test case for how high-performance AI infrastructure can be built up globally while remaining compliant with U.S. security requirements.

Egypt has secured about $2.3 billion in funding from the IMF after completing two reviews of its reform program.

The payout follows a preliminary agreement reached in December covering the latest revisions of Egypt’s economic overhaul and its climate-focused financing program.

In its latest monetary policy report, the Central Bank of Egypt said the country’s macroeconomic outlook is “cautiously improving,” supported by investment from the Gulf and other countries, along with stronger tourism and money sent home by Egyptians working abroad.

Still, the IMF warned that uneven reforms, high debt and regional tensions continue to pose risks.

Saudi Arabia’s newest national carrier, Riyadh Air, confirmed it will launch daily flights to Cairo as it accelerates the build-out of its international network.

CEO Tony Douglas said the Egyptian capital was a strategically chosen early destination, describing the route as an important step in positioning Riyadh as a global hub.

The announcement came at a time when Saudi aviation authorities are advancing plans to strengthen the kingdom’s air-transport ecosystem, highlighting new initiatives aimed at boosting passenger traffic and sector investment.

The airline will operate the route using its Boeing 787-9 Dreamliner fleet, with services scheduled to commence shortly after the airline receives its first aircraft in the coming weeks.

Oil tanker shipping costs urged to their highest level in six years as traders scramble for vessels amid rising Middle East exports and mounting geopolitical tensions, with Saudi shipping giant Bahri moving to expand its fleet.

Daily rates for very large crude carriers, known as VLCCs, on the key Mideast route to Asia have more than tripled this year to approach $200,000, while crude prices themselves have climbed to a six-month high, reflecting tight vessel supply and stronger demand for oil shipments.

The spike has been fueled in part by India and other Asian buyers increasing purchases of Middle Eastern crude as they reduce reliance on Russian supplies, prompting Bahri to snap up additional ships to capitalize on the expanded market.

In his State of the Union address on Tuesday night, President Donald Trump warned Iran against further escalation in the region, heightening market concerns about potential disruptions to oil flows.

Additional upward pressure on freight costs has come from stronger Chinese oil demand, which is tightening tanker availability, while Iranian officials have renewed threats to the Strait of Hormuz, raising fears over a key global shipping chokepoint.

Saudi Arabia posted its largest quarterly budget deficit since 2020 as lower oil revenue and spending by the government on NEOM and some of Crown Prince Mohammed bin Salman’s other ambitious projects widened its fiscal gap. 

Signs of the worsening deficit have been evident for months, with the slowing down of NEOM’s $500 billion desert city called The Line and the shelving of the $50 billion Mukaab centerpiece in Riyadh’s New Murabba district.

The fiscal pressure has coincided with a leadership shake-up, with veteran investment minister Khalid Al-Falih replaced by Fahad Al-Saif, a former Public Investment Fund executive.

According to a Finance Ministry report issued on Monday, the kingdom recorded a shortfall of about 31 billion riyals ($8.2 billion) in the fourth quarter, with total revenue slipping while expenditures remained elevated.

The budget report showed oil income from state giant Saudi Aramco fell about 12% year on year to roughly $45 billion.

The government says it retains room to borrow and manage debt levels because of its relatively low debt-to-GDP ratio and continued access to global debt markets.