The wire
US Treasury sanctions on Dubai-based financiers linked to Iran, combined with ongoing Strait of Hormuz tensions, cast a shadow over Gulf financial corridors and shipping routes critical to the region's trade. First Abu Dhabi Bank's move into South Africa signals continued international expansion by UAE lenders, while Saudi Arabia's consolidation of energy, industry, and mineral resources under one minister points to further integration of the Kingdom's economic policy.
Top stories
New York Post
US Treasury sanctions Dubai-based Iran financier and front companies
OFAC designated a Dubai-based financier, three Iranian currency exchanges, and front companies in Hong Kong and the UAE for moving funds on behalf of Iran.
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Business Insider Africa
First Abu Dhabi Bank moves closer to South Africa entry after trademark deal
FAB, the UAE's largest lender with $406bn in assets, resolved a decade-long trademark dispute clearing the way for its expansion into South Africa.
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Reuters
Saudi Arabia merges industry and minerals portfolio with Energy Ministry
A royal order appointed Energy Minister Prince Abdulaziz bin Salman to simultaneously head the Ministry of Industry and Mineral Resources.
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The Gulf Money digest surfaces reported news from third-party publications. We do not republish the stories themselves - every headline above links to the original source so you can read the publisher's own coverage.