Over the weekend, governments in the Middle East and Europe revealed major economic initiatives, ranging from energy investments to tourism programmes and financial partnerships.
Egypt’s petroleum ministry signed three new contracts worth more than $121 million to boost oil and gas exploration in the Western Desert, the Gulf of Suez, and offshore North Sinai. The agreements were reached with Parenco Egypt, Dragon Oil, and Apache. Each deal includes commitments for fresh drilling projects, reinforcing Egypt’s position as a key regional energy hub.
In Riyadh, Tourism Minister Ahmed Al-Khateeb introduced the “Saudi Winter 2025” campaign with the theme Winter is Alive. The programme, which runs until early 2026, will feature over 1,200 tourism products and 600 promotions across destinations such as Riyadh, Jeddah, AlUla, and the Red Sea. Highlights include music festivals, cultural performances, international sports events, and collaborations with global brands and entertainers. The initiative is part of the Kingdom’s Vision 2030 strategy, aiming to attract 150 million visitors by the end of the decade.
Italy’s finance minister Giancarlo Giorgetti confirmed that Rome will hold onto its GDP forecasts of 0.6% for 2025 and 0.8% for 2026, despite trade tensions with the United States. Although the economy slipped slightly in the second quarter, recent data on industrial activity showed positive signs. Giorgetti also said the government plans to reduce the budget deficit to within the EU’s 3% limit and pledged tax relief for middle-income earners.
The British government announced nearly £1.25 billion ($1.7 billion) in new US investments ahead of President Donald Trump’s state visit this week. Contributions from Bank of America, Citigroup, PayPal, and S&P Global will generate around 1,800 jobs across major UK cities. Meanwhile, BlackRock revealed plans to inject £7 billion into the UK market in 2026. Officials said the deals underline the strength of US-UK financial ties, with more cooperation expected through an upcoming technology agreement.
These initiatives highlight how countries are pursuing fresh opportunities to strengthen their economies, even as global trade faces rising uncertainty.
