Arab World
Regional coverage across the Middle East and North Africa
U.N. Cites Genocidal Intent in Gaza as Regional Diplomacy Reopens Markets
- Palestine: A U.N. Independent International Commission of Inquiry report issued on 23 June concluded that Israeli forces deliberately targeted and killed Palestinian children in Gaza and the West Bank. The commission characterised the systemic military actions, forced displacement, and resulting mass trauma as crimes against humanity and key evidence of genocidal intent.
- Geopolitics & Energy: Oil markets have retreated with Brent crude nearing $78 per barrel as the United States and Iran implement a fragile 14-point memorandum of understanding. The 60-day ceasefire framework temporarily lifts the U.S. naval blockade, opens the Strait of Hormuz, and permits limited Iranian oil exports, though disputes over international nuclear inspections continue.
- Urban Investment: UAE-based conglomerate Majid Al Futtaim and Egypt’s MIDAR have finalised a $3.1 billion partnership to develop a 2.3-million-square-metre integrated urban centre. The project will be built within Mada City, a developing smart metropolis east of Cairo, reflecting a continued surge of Gulf capital into Egyptian infrastructure.
- Renewable Infrastructure: Egypt has advanced its energy transition goals with Cabinet approval for an 869-megawatt wind power project led by French developer Voltalia. The initiative involves an initial $53 million capital commitment and is scheduled for full commercial operation by December 2028.
- Venture Capital: Regional early-stage investor network Keiretsu Forum MENA has partnered with FinBursa to digitise startup investments across the Middle East and North Africa. The alliance deploys AI-native deal infrastructure to streamline fundraising, pipeline management, and capital deployment in key tech hubs including Saudi Arabia, Egypt, and Morocco.