Saudi Arabia is always ready for multiple oil price scenarios, and budgets are driven by priorities, the country’s economy minister said on Tuesday.

“We’re always ready for scenarios – multiple scenarios, and we have buffers,” Faisal Alibrahim told an audience at the Qatar Economic Forum in Doha.

Read-Trump’s Saudi Arabia visit unlocks $600bn in investment deals

“We have the long-term fiscal planning and medium-term frameworks that help us adjust depending on what scenario actually plays out,” he said.

The International Monetary Fund and economists estimate Riyadh needs oil prices of over $90 a barrel to balance its budget. Benchmark Brent prices have been trading in the mid-$60s this month.

While Saudi Arabia funds its Vision 2030 reform program off budget, the government needs to spend on mammoth infrastructure projects linked to the programme, which aims to wean the economy off its self-declared “oil addiction”.

It is also hosting the Expo in 2030 and the World Cup in 2034.

Saudi Arabia, the world’s largest oil exporter, was among the largest emerging market debt issuers last year and the government has already raised $14.4bn in bonds this year.

From traceability to tradition-driven innovation, Estonian brands are carving out a distinct niche in the MENA region’s competitive market. Katre Kõvask, Export Workgroup Leader at the Estonian Food Industry Association and CEO of YOOK shares insights on the factors that make Estonian F&B products appealing.

How do Estonian food and beverage brands, known for their organic ingredients and sustainability, align with the consumers in the MENA region?

Estonian food and beverage (F&B) brands’ commitment to organic and sustainably sourced ingredients directly aligns with the rising health consciousness and environmental awareness among MENA consumers. Estonia’s pristine environment and focus on natural farming methods ensure that products are free from harmful additives and pesticides, meeting the high expectations of a health-focused market.

Furthermore, Estonian producers emphasise environmentally friendly practices such as organic farming, renewable energy usage, and minimal waste, resonating with consumers in the MENA region who increasingly prioritise eco-conscious products. These shared values create a foundation for building trust and loyalty with MENA consumers.

Estonia’s reputation for high-quality food production is built on strict quality controls and certifications. How do Estonian F&B companies ensure traceability, transparency, and product purity?

Estonian F&B companies operate under some of the most stringent quality control systems in Europe, ensuring that every product meets the highest standards of safety and purity. With advanced technologies like blockchain for supply chain transparency and digital traceability solutions, Estonian companies can provide detailed insights into every stage of production, from farm to table.

Additionally, many Estonian products carry certifications such as EU Organic, Halal, and ISO standards, which are particularly appealing to MENA consumers concerned about food safety, ethical sourcing, and compliance with dietary requirements. By emphasising traceability and purity, Estonian brands offer MENA consumers the assurance they seek.

How are Estonian brands leveraging their food technology innovations to develop products that support health and wellness, such as high-fibre or gut-health-promoting foods?

Estonian brands are at the forefront of food technology innovation, leveraging cutting-edge research and development to create plant-based and functional food products that cater to the health and wellness trends in the MENA region. Examples include dairy alternatives enriched with probiotics for gut health, high-fibre snacks made from ancient grains, and fortified foods designed to meet specific nutritional needs.

Estonia’s focus on combining traditional ingredients with innovative processes ensures that these products are not only healthy but also flavourful and authentic, appealing to a diverse consumer base in the MENA market.

How do Estonian F&B companies incorporate sustainability into their products?

Sustainability is deeply ingrained in the operations of Estonian F&B companies. From sourcing raw materials through organic and regenerative agriculture to utilising renewable energy and implementing waste-reduction strategies, these companies prioritise eco-friendly practices throughout the production process.

Sustainable packaging solutions, such as biodegradable and recyclable materials, further demonstrate Estonia’s commitment to minimising environmental impact. For MENA consumers who are increasingly environmentally conscious, these efforts underscore the authenticity and responsibility of Estonian brands, making them a natural choice for those seeking sustainable options.

Given Estonia’s strong emphasis on both tradition and innovation, how does the blend of these values position Estonian food products in the MENA market?

Estonia’s unique combination of tradition and innovation positions its food products as highly distinctive in the competitive MENA market. Traditional recipes and natural ingredients reflect Estonia’s culinary heritage, while innovative processes and technologies ensure modern quality and functionality.

This blend allows Estonian brands to cater to consumers seeking authentic flavours and trustworthy products while also delivering cutting-edge solutions like functional foods, enhanced nutritional profiles, and sustainable packaging.

How does Estonia’s active participation in major trade events like Gulfood contribute to expanding the presence of Estonian F&B brands in the MENA market?

These events provide Estonian companies with opportunities to connect directly with distributors, retailers, and decision-makers, fostering valuable relationships and increasing brand visibility. The Estonian government actively supports these efforts through initiatives such as export grants, trade delegations, and promotional campaigns.

By facilitating collaborations and offering strategic support, the government plays a vital role in building long-term partnerships between Estonian companies and GCC businesses, ensuring mutual growth and success in the region.

Kuwait-based Al Ojairi Scientific Center announced that the first crescent of Dhul Hijjah will be sighted astronomically on May 28, with the Day of Arafah falling on June 5 this year, according to a report by Arab Times Online.

Read-Kuwait announces Eid Al Adha holidays

In a press release, the center explained that the crescent of Dhul Hijjah will be born after the conjunction at dawn on May 27, the 29th of Dhul Qidah, and will be visible that evening. The new crescent will remain visible in Kuwait’s skies for 43 minutes and can be clearly seen after sunset. It will also be visible in Arab and Islamic capitals for 40 to 58 minutes. Based on scientific calculations, Eid Al Adha will be observed on June 6, 2025.

The Kuwaiti government has announced the suspension of work and the declaration of a public holiday across all state bodies and public institutions from June 5 to 9 in observance of Eid Al Adha, the cabinet announced on April 29.

Government employees will return to work on Tuesday, June 10, according to a report by the Kuwait News Agency.

However, workplaces of an “unconventional” nature may determine their own holiday schedules, the cabinet noted during its weekly session, chaired by Acting Prime Minister and Interior Minister Sheikh Fahad Yusuf Al Sabah.

The Sharjah Roads and Transport Authority (SRTA) has launched a set of smart traffic signals as part of its broader infrastructure development strategy.

Dubai: New traffic signal control system to reduce congestion by 20%

According to a WAM report, the signals are integrated into an advanced system developed under the “Green Traffic” initiative. The system aims to improve traffic flow, reduce congestion, and enhance road safety across the emirate.

Smart projects to enhance Sharjah’s transport sector

Engineer Yousef Khamis Al Othmani, Chairman of SRTA, stated that the initiative is part of a wider package of smart projects aimed at advancing Sharjah’s transport sector. By adopting the latest global technologies, SRTA seeks to improve road infrastructure efficiency and provide innovative, sustainable solutions in line with smart urban transformation.

Benefits of the Green Traffic system

The “Green Traffic” system marks a significant step forward in traffic management. It helps reduce wait times, ease congestion, and ensure safer movement for both pedestrians and vehicles.

Al Othmani also highlighted the system’s environmental benefits, including its role in cutting harmful emissions caused by frequent stops and starts—contributing directly to Sharjah’s sustainability goals and its vision for a greener future.

The smart traffic signals incorporate advanced technologies, including sensors and detectors that monitor traffic volumes and adjust signal timings in real-time. This allows for smoother, more synchronized traffic flow, enabling vehicles to pass through multiple green lights at consistent speeds between 40 and 50 km/h.

Beyond easing congestion—particularly during peak hours—the system also reduces risks from uncontrolled pedestrian crossings.

As part of its launch, WHX Tech has announced the creation of The Founders Circle, an exclusive intiative for the first 250 individuals to register for the inaguaral digital health event.

Launching alongside WHX Tech 2025, the Founders Circle offers early supporters unique benefits including early access to industry-leading insights, exclusive merchandise, special rates on future events, and recognition as one of WHX Tech’s original founding members. The initiative underscores WHX Tech’s commitment to building a community of early adopters and innovators shaping the future of digital health.

WHX Tech – where innovation comes to life

Taking place from 8–10 September 2025 at the Dubai World Trade Centre, WHX Tech is developed in partnership with HIMSS (Healthcare Information and Management Systems Society) — the global authority in health information and technology. Together, WHX Tech and HIMSS are creating a landmark event designed to bring innovation to life by accelerating the adoption of digital health solutions across real-world care settings.

WHX Tech is the latest expansion of WHX — the world’s largest network of healthcare events — built on a legacy that began in 1975 with WHX Dubai (formerly Arab Health). This next-generation event unites technology leaders, healthcare professionals, investors, and policymakers to spark transformative change in healthcare systems worldwide.

Built to bring innovation to life by accelerating the adoption of innovation in healthcare, WHX Tech unites technology leaders, healthcare professionals, investors, and policymakers to drive real-world change.

Why join The Founders Circle?

For founders shaping the next wave of healthcare, early access means more than just a head start: it’s a strategic edge. As a Founders Circle member, you’ll unlock:

• Early access to industry reports, intelligence and insights before they go public
• Founders-only WHX Tech merchandise
• Exclusive rates for future WHX Tech events
• Recognition as part of WHX Tech’s founding community
  
• And many more benefits designed to enhance your experience during the inaugural event
  

And most importantly, recognition as an early supporter of WHX Tech — where healthcare innovation moves from concept to implementation at scale.

The Founders Circle initiative is limited to just 250 spots, and early bird registration is now live!

Don’t miss your chance to be part of a launch that’s already capturing the attention of global tech and investor networks.

What else is on offer at WHX Tech?

1. Xcelerate Stage
   Startups, this is your moment. Pitch your solution live in front of healthcare investors, VCs, and procurement leaders. Finalists will compete for a $50,000 equity free prize fund – plus gain real-time feedback from some of the sector’s sharpest minds.
2. The Connections Programme
   This isn’t your average networking session. The WHX Connections Programme matches sponsors with curated buyers and entities that can enhance the future of your business. The team will matchmake sponsors and buyers alike to ensure that you’ll walk away with genuine leads and not just LinkedIn requests.
3. Global insights on tailored stages
   From AI and diagnostics to digital patient journeys and health data interoperability, founders will gain actionable insights from WHX Tech’s three major stages:

• World X: global case studies and bold predictions for the future of digital healthcare
• Future X: where CEOs, policymakers, and ecosystem architects set the tone for the next era
• Xcelerate: where bold startups redefine the future of health and tech through live pitches and visionary solutions.

Confirmed speakers already include innovators, strategists, and public health leaders from the UAE, Saudi Arabia, Europe, and the US.

MENA’s launchpad for healthtech growth

Backed by government support, increased investment, growing demand, and a surge in regional collaboration, the Middle East is fast becoming a proving ground for global digital health solutions. The region is well positioned to scale what works, and fast.

Whether you’re preparing to launch, scale, adopt new technology or build partnerships, the WHX Tech Founders Circle gives you a front-row seat—and a voice in the future.

WHX Tech is the global stage for digital health innovation, dedicated towards accelerating the adoption of next-generation technology to tackle real-world healthcare challenges.

Join now

Early bird tickets are live—and with them, your chance to join The Founders Circle. Once the 250 spots are filled, they’re gone!

Registration link: https://shorturl.at/yEK8N