U.S.-Iran interim deal: What could a Gulf bounce back look like?
In Fortune Gulf Brief today: U.S.-Iran interim deal and the Gulf’s road to recovery U.S. Private Credit firms flock to the Gulf <a href="https://fortune.com/2026/06/13/elon-musk-spacex-ai-business-biggest-ipo-of-all-time/?j=146820&sfmc_sub=34725809&l=1227_HTML&u=10086839&mid=546014653&jb=943&utm_source=sfmc&utm_medium=email&utm_campaign=NL_fortune-500-digest_2026-6-13_146820&utm_term=fortune-500-digest&sfmc_id=34725809">Space X’s</a> meteoric IPO: Gulf states reap windfalls Paramount-Warner Bros. merger gets green light Plus: The 3 things we enjoyed reading this week The Gulf Cooperation Council will have breathed a collective sigh of relief when the U.S. and Iran agreed an interim deal to end more than 100 days of war. Announced on Sunday evening, the memorandum of understanding, which provides a 60-day ceasefire extension and free passage of shipping through the Strait of Hormuz, is due to be formally signed in Geneva on Friday. The Gulf states, often to their surprise, have been on the front line of the conflict, facing missile and drone attacks. Is it too soon for them to start talking about a bounce back? Historically, the Gulf has shown an ability to recover quickly after major shocks. After the 1991 liberation of Kuwait, oil production and core economic activity rebounded more quickly than many observers had anticipated, supported by oil revenues, substantial overseas assets, and government-led reconstruction. Studies of Kuwait’s recovery highlight the importance of sovereign wealth funds and strong state finances. More recently, the recovery of Dubai’s tourism sector in the aftermath of the COVID pandemic was unusually fast by global standards. By the end of 2022, Dubai received 14.36 million international visitors, reaching 86% of pre-COVID tourism levels and outperforming the 63% global tourism recovery rate. Admittedly, this rapid resurgence was in part driven by a combination of mega-events such as Expo 2020 and the Qatar World Cup, but