The US government has pushed for a ceasefire agreement between Israel and Hamas this week, but an agreement seems some way off still. A deal would benefit Egypt, Jordan and Lebanon, whose economies have been hit by spillovers from the war in Gaza. For the Gulf states, a deal would probably push oil prices down a little and prompt them to extent oil output cuts. Elsewhere, Hassan Abdalla’s term as CBE governor was extended, reaffirming the authorities’ commitment to the orthodox policy shift. Finally, PIF’s 2023 Annual Report lifted the lid on the Fund’s development, further highlighting how it has been leant on by the state to fund local investments.
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