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Russia and Qatar deepen economic ties, focusing on energy investments. B’Laban faces closures in Egypt over licensing issues. In Lebanon, the government pledges to gradually return frozen depositor funds amid the ongoing financial crisis, aiming for economic stabilization and international support.

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🇷🇺🇶🇦 RUSSIA & QATAR SEAL €2 BILLION INVESTMENT DEAL

📌 What Is It About?

• Russia and Qatar have signed a major agreement to inject an additional €2 billion into a joint investment fund — with €1 billion from each side.

• The deal was finalized during a Moscow meeting between President Vladimir Putin and Qatari Emir Sheikh Tamim bin Hamad Al-Thani.

• Managed by Russia’s Direct Investment Fund (RDIF) and the Qatar Investment Authority (QIA), this fund will target investments in technology, healthcare, minerals, and other key sectors.

• This builds on their existing $4 billion joint venture launched in 2014.

📌 Why It Matters

• Strengthens economic ties between Russia and one of the Gulf’s wealthiest nations despite global geopolitical tensions.

• Reinforces Qatar’s position as a major foreign investor in Russian infrastructure and industries.

• Opens doors for Russian companies to enter Middle Eastern markets through Qatari partnerships.

• Highlights Qatar’s strategy to diversify its international investments, particularly in emerging and resilient markets.

📌 What’s Next

• The expanded fund will actively seek new projects in priority sectors like tech, healthcare, and natural resources.

• Expect more cross-border deals and partnerships between Russian firms and Gulf-based companies.

• Signals continued economic diplomacy between Russia and Qatar, potentially influencing regional investment flows and infrastructure projects in both countries.

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Markets

Famous Egyptian Dessert Brand B’Laban Faces Major Store Closures in Egypt Over Licensing Violations

📰 What is it about?

• Giza Governor Adel El-Naggar has ordered the closure of 12 dessert and dairy outlets.

• This includes 8 B’Laban branches and 4 Blin branches (a copycat chain).

• The closures are due to licensing violations, as the branches were operating without the proper permits.

• The decision was based on reports from the Giza Health Affairs Directorate and the Food Control Department.

• According to Cairo24, the closures are part of ongoing efforts to enforce food safety regulations.

💡 Why it matters

• B’Laban is a well-known brand in Egypt and the Arab region, with a large following across countries like Morocco, Libya, Oman, Jordan, and Saudi Arabia.

• The closures come on the back of a food poisoning incident in Saudi Arabia, which led to the closure of all B’Laban stores in the Kingdom.

• 26 food poisoning cases were linked to B’Laban, prompting the company to shut down stores, but no official statement was released on the matter.

• Recently, the company posted on Facebook: "We’re not angels — we make mistakes."

• It’s estimated, according to B’Laban's Facebook, that 25,000 employees depend on the brand’s operations, highlighting the importance of resolving these issues quickly to avoid further disruption of livelihoods.

🔜 What’s next?

• Despite the closures, B’Laban is still operational in several countries, including Egypt, UAE, Morocco, Libya, Oman, and Jordan.

• The company is opening a new store in Kuwait today.

• There are expectations that the brand will reopen its stores in Saudi Arabia once the poisoning issue is resolved, continuing its expansion across the region.

• B’Laban is working to address its licensing violations and aims to ensure full compliance with local regulations to continue its growth.

Lebanese Deposit Crisis: Government Commits to Returning Frozen Funds Over Time

📌 What is it about?

• Lebanon’s Economy Minister Amer Bisat announced that depositors in Lebanese banks will gradually receive their frozen funds as part of a broader financial system overhaul.

• The government, central bank, and banks will share the burden of repairing the economy, which is currently experiencing one of the world’s worst financial crises.

• Bisat emphasized that deposit protection is a key goal, and while the return of funds will take time, no depositors will lose their money.

• Lebanese banks imposed restrictions on withdrawals starting in 2019 due to a severe financial collapse, triggered by mismanagement and corruption by Lebanon’s ruling elite.

• The crisis, worsened by the Covid-19 pandemic, left depositors unable to access their savings.

💡 Why it matters

• Lebanon’s financial collapse is the result of decades of corruption and financial mismanagement, leading to the loss of billions of dollars.

• The IMF’s $3 billion bailout and economic reform programs are dependent on Lebanon’s ability to implement necessary reforms, including changes to the banking sector.

• With $70 billion in estimated losses, Lebanon’s economy is in dire need of restructuring to rebuild its financial system.

• The central bank’s ability to conduct monetary policy and the survival of the banking sector are critical to the country’s economic recovery.

• The reform commitment is a sign of progress, but Lebanon’s international creditors have expressed frustration over slow implementation.

🔜 What’s next?

• A law to lift banking secrecy will be passed in parliament soon, allowing the government to assess the capital gaps of banks.

• Lebanon will organize an investor conference in September 2025 to present the country’s recovery plans to the international community.

• The government hopes this will signal that Lebanon is “back in business” and ready for investment.

• The country’s ability to implement collective solutions will be crucial in securing further support and attracting foreign investment to rebuild its economy.

🔍In other news…

• Abu Dhabi's Mubadala to buy $600 million stake in UK school operator Nord Anglia.

• Lebanon's AI minister says $50m can transform government and make it more accountable.

• Abu Dhabi investor buys $25m in Trump crypto coins.

• Dubai's Majid Al Futtaim Properties to launch $4.7bn mega project in Riyadh: Report

• With oil around $66, what are Saudi Arabia’s options?

• Suez Canal revenues drop by 61% in 2024 amid regional challenges.

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