Gulf on path to political, economic progress and cooperation, says GCC secretary-general

'Re-opening ties with Iran or attempting to is not necessarily new,' Al-Balawi said. (GulfNews/Sourced)
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Updated 26 September 2023
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Gulf on path to political, economic progress and cooperation, says GCC secretary-general

  • Presence of Saudi Arabia at BRICS and UAE at G20 proves how 'vital and important their participation is not only economically but in terms of coexistence, humanitarian aid and trade,' said Al-Balawi

DUBAI: The Gulf Cooperation Council is on the right path towards positive political and economic progress and cooperation, Jassim Muhammad Al-Budaiwi, the secretary-general of the GCC, said on Tuesday.

Speaking at the annual Arab Media Forum held in Dubai, Al-Budaiwi touched on points of progress and the challenges that member countries face. 

He said the presence of Saudi Arabia at BRICS and the UAE at the G20 Summit proved how “vital and important their participation is not only economically but in terms of coexistence, humanitarian aid and trade.”

Al-Budaiwi also touched on the subject of Iran and its relationship with the member countries, reiterating the main agenda is to get Iran to stop meddling in the region and to respect international laws.  

“Re-opening ties with Iran or attempting to is not necessarily new, there have been multiple attempts throughout the years; the late Saudi King Abdullah even tried,” he said.

“We are asking for a ‘normal’ relationship, after all, we are neighbors on the western frontiers,” he added.  

While Iran has some good relations with certain member countries, such as Kuwait and Oman, “the proof is in the pudding,” Al-Budaiwi noted. “The bigger and most important point is: do not meddle.” 

Ties were seeing progress until the recent Houthi-backed drone attack which claimed the lives of two Bahraini soldiers by the Saudi-Yemeni border on Tuesday morning. 

In terms of economical cooperation and numbers, the GCC’s budget amounts to $2.4 trillion, with $170 billion allocated for trade with each other.  

“These are not small numbers nor are they easy to achieve. But our cooperation with each other and the steps we are taking in transparency help,” Al-Budaiwi said.

He added that the GCC members have outstanding cooperation between each other in terms of political and security issues, but that economic plans require more effort and sacrifices and there is where the main challenge is.  

“You can’t win them all, you can’t lose them all” he noted during the session.  

The GCC is undergoing modernization of laws and regulations which is cementing its place in the global stage.   

On media and journalism, the GCC handles topics rather than dictation, preferring to discuss how to better promote their plans, like backing Saudi Arabia’s bid to hold Expo 2030 and the UAE hosting COP28, as well as how to tackle sensitive topics like the burning of the Qur’an in Europe.  

GCC member countries include: Saudi Arabia, The UAE, Bahrain, Qatar, Kuwait, and Oman.


Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA

Updated 13 January 2026
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Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA

  • Nasdaq to deliver exclusive real-time US equities market data
  • Real-time updates fully integrated into Asharq Business’ data infrastructure and available across all platforms

RIYADH: Asharq Business with Bloomberg, the region’s leading business and financial news multi-platform channel, announced Tuesday a strategic three-year collaboration with Nasdaq, to deliver exclusive real-time US equities market data and updates to investors and decision-makers across the Middle East. 

Through access to Nasdaq’s official data product, Nasdaq Last Sale (NLS), Asharq Business with Bloomberg will receive real-time last-sale trade updates and calculated insights across major US exchanges directly from the Nasdaq Market Center. The collaboration strengthens market transparency, enhances data-driven storytelling, and provides audiences and partners with deeper insight into global financial activity. 

With a rapidly growing investor base in the region — and with Nasdaq serving as a primary destination for many Arab and regional investors — Asharq Business with Bloomberg reinforces its mission to deliver timely, accurate, and exclusive financial updates by integrating NLS data into its digital platforms, live markets coverage, and broader data ecosystem. 

Leveraging its partnership with Bloomberg Media — which grants access to reporting from over 2,700 journalists and analysts worldwide — Asharq Business with Bloomberg continues to build on its reputation as the region’s most trusted and credible multi-platform business news source. The collaboration with Nasdaq underscores its commitment to providing reliable, data-backed content across social, digital, and streaming platforms, available for audiences anytime and anywhere. 

Dr Nabeel Al Khatib, General Manager of Asharq News Network, commented: “It has been five years since the inception of Asharq Business with Bloomberg, and our audience has always been at the center of everything we do. We invest time and effort to understand what matters to them, ensuring we deliver data and stories that genuinely support informed decision-making. With growing regional interest in global markets, our collaboration with Nasdaq marks a strategic step toward offering a clearer, more comprehensive view of international financial activity. Through Nasdaq Last Sale, we aim to further empower our audience with transparent, real-time insights, strengthening their ability to navigate an increasingly interconnected global investment landscape.” 

The Nasdaq leadership team added: “We are pleased to collaborate with Asharq Business with Bloomberg to broaden access to high-quality US market data in the Middle East. Through Nasdaq Last Sale, we aim to enhance transparency, support informed decision-making, and contribute to a more connected global investor community.”