GULF WEEKLY: Qatar mediation on Gaza progresses, PIF announced auto deals at FII, Eni signs LNG deal with Qatar, Egypt seeks another $5bn deposit
A skimmable summary overlaid with our analysis and links. Headlines:
* The IEA revised down its 2050 oil & gas projections but sees the Middle East’s share growing.
* The casualty count rose sharply in Gaza, including nearly 3,000 children, and supplies have run low.
* Qatar mediated the release of four hostages, and there are reports of a possible ceasefire deal.
* The family of Al Jazeera’s bureau chief in Gaza was killed, and Qatar’s emir criticized Israel’s “free license to kill”.
* Biden again spoke with MBS, and a bipartisan US Senate delegation also visited the Kingdom.
* The UAE supported the Russian-proposed ceasefire resolution at the UN and opposed the US draft.
* The US is deploying air defenses to bases in the region, including the GCC, amidst militia threats.
* Egypt is reportedly close to securing a further $5bn in deposits from the UAE and Saudi Arabia.
* PIF’s flagship FII summit in Riyadh was well attended by bank CEOs.
* PIF announced automotive investment deals with Hyundai and Pirelli and a logistics JV in Neom.
* Turkey’s finance minister signed an MoU on investment with KSA at the FII summit and also visited Qatar.
* Sudan peace talks restarted in Jeddah after a four-month hiatus.
* The UAE could get off the FATF grey list as soon as February.
* Eni was the latest North Field partner to sign a 27-year LNG supply deal with Qatar.
* Qatar Airway’s outspoken CEO retired after nearly three decades building it into a global player.
* Databank updates: There was little new data, so there is no update this week (for the first time this year).
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