Page 5 - Khalij News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Buoyed by a swift economic rebound post-COVID, Dubai is racing to attract people and capital to drive long-term growth, betting it can avoid past debt crises that dented its global ambitions.

Touted progress in diversifying Gulf economies beyond the fossil fuel rent comes with a caveat. Oil and gas revenues indirectly propel large chunks of the non-oil economy through public expenditures such as wages, subsidies and infrastructure spending.

'Wide open' for business: Russia makes play for Gulf money

Grappling with sanctions and an exodus of foreign firms, Moscow is looking to investors from oil-rich Arab Gulf states as the West locks it out over the war in Ukraine.

The electric car maker is among the biggest U.S. investments by Saudi Arabia's Public Investment Fund which has been tasked with driving the kingdom's ambitious plan to cut its reliance on oil revenue