Jack Dutton

United Kingdom

Chief Business Correspondent at Al-Monitor

Chief Business Correspondent at @almonitor. 📩: [email protected], DM for Signal. Ex-@newsweek, @thenationalnews and @airfinancenews. @jackvdutton.bsky.soc

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Articles

Trump confirms US-UAE deal for Gulf state to buy advanced AI microchips

3 weeks ago | al-monitor.com | Rosaleen Carroll |Jack Dutton |Beatrice Farhat

President Donald Trump announced Friday that the United States and the United Arab Emirates had reached an agreement to let Abu Dhabi buy advanced microchips from US companies to power artificial intelligence. It marks a significant move as the UAE looks to become an AI hub, but Washington has so far been cautious about allowing the Emirates to access the chips over fears the sensitive technology could be accessed by Chinese competitors.
Al-Monitor Business and Tech: Trump tariff pain in the Mideast: Short-lived or enduring?

1 month ago | al-monitor.com | Jack Dutton

Sign up here for Al-Monitor Business & Tech, a weekly newsletter on the latest business, tech and economy trends shaping the Middle East. Welcome back to Al-Monitor Business and Tech. This week, we follow the roller-coaster ride of global stock markets in the wake of President Donald Trump’s tariffs and subsequent 90-day pause after US Treasuries took a beating. We break down what it means for Middle Eastern economies and whether the economic damage is likely to be short-lived or more enduring.
Mideast airlines cancel flights as outage closes Heathrow Airport

2 months ago | al-monitor.com | Jack Dutton

LONDON — The Middle East’s three biggest carriers — Emirates Airline, Etihad Airways and Qatar Airways — have canceled flights to and from London’s Heathrow Airport after it remained closed Friday due to a power outage caused by a fire at a nearby substation. Flights operated by EgyptAir, Gulf Air, Oman Air, Royal Air Maroc, Turkish Airlines and Saudia were also disrupted. At least 1,357 flights were scheduled from Heathrow Friday, according to aviation data platform Cirium.
UAE’s ADNOC, Austria’s OMV merge businesses to create $60B plastics firm

Mar 4, 2025 | al-monitor.com | Jack Dutton

Abu Dhabi National Oil Company (ADNOC) and Austria’s OMV plan to merge their polyolefin businesses — and acquire another one — to create a $60 billion plastics firm. In a statement on Tuesday, ADNOC and OMV said they had agreed on terms to merge their Borouge and Borealis subsidiaries and acquire American polyethylene producer Nova Chemicals Corporation.
Turkish inflation dips under 40% in February to lowest in nearly 2 years

Mar 3, 2025 | al-monitor.com | Jack Dutton

Turkish annual inflation dropped below 40% in February, the lowest in almost two years, ahead of an expected interest rate cut by the central bank this week. Inflation slowed to 39.1% in February compared to the same month in 2024, according to data from state statistics agency TurkStat released Monday. Estimates had ranged between 39.5% and 40.3% after January’s inflation was 42.1%. Energy costs rose by 43.92% year-on-year in February, slightly more than January’s 43.05%.
Saudi Arabia's PIF bans PwC advisory, consulting services: What to know

Feb 28, 2025 | al-monitor.com | Jack Dutton

Saudi Arabia’s sovereign wealth fund has temporarily suspended the global professional services firm PricewaterhouseCoopers from advisory and consulting services contracts, according to a report published Friday, restricting its business in one of the world’s fastest growing markets.
Saudi Arabia markets Middle East's first euro green bond: What to know

Feb 25, 2025 | al-monitor.com | Jack Dutton

Saudi Arabia has begun the sale of its first euro-denominated green bond, according to reports, marking a regional milestone in sustainable finance. The bond aims to support the kingdom’s Vision 2030 plan, which seeks to diversify the economy away from oil dependence by the end of the decade. Bloomberg reported Wednesday, citing a source close to the transaction, that the seven-year green debt offering is being marketed alongside a 12-year conventional bond from the kingdom.
JPMorgan to reclassify Qatar, Kuwait as developed markets: What it means

Feb 21, 2025 | al-monitor.com | Jack Dutton

JPMorgan will reclassify Kuwait and Qatar as developed markets and will soon begin their phased removal from its Emerging Markets Bond Index, from which the United Arab Emirates might also be removed next year. The US-headquartered lender's EMBI tracks the performance of emerging market bonds — debt issued by countries with developing economies. These bonds typically carry higher risk but offer investors higher returns. The EMBI is closely followed by investors worldwide.
Why is Iran urging Qatar to release $6B in frozen oil payments?

Feb 20, 2025 | al-monitor.com | Jack Dutton

Iranian Supreme Leader Ayatollah Ali Khamenei has asked the Qatari emir, Sheikh Tamim bin Hamad Al Thani, to release $6 billion in Iranian oil revenues held in Doha, despite US pressure not to do so. “[Qatar is] a friendly and brotherly country, although there are still ambiguous and unresolved issues,” Khamenei said on Wednesday, during a meeting with Sheikh Tamim in Tehran.
World Bank puts Gaza reconstruction cost at $52B as Arab leaders mull plan

Feb 19, 2025 | al-monitor.com | Jack Dutton

Gaza’s reconstruction will cost an estimated $52 billion, according to an assessment by the World Bank, United Nations and the European Union released late Tuesday. The report comes as a fragile ceasefire between Israel and the Gaza-based Hamas militant group manages to hold and hostages and prisoners continue to be traded. On Oct. 7, 2023, after Hamas launched a surprise attack on southern Israel, killing more than 1,200 people and abducting 250 more, Israel declared war on the group.