Banking and Finance

A member of the Syrian security forces stands guard outside the central bank in Damascus, on Dec. 31, 2024.

Analysis

Syria's new rulers set ambitious economic goals: Are they achievable?

Syria’s financial woes run deep, prompting the new government to radically change its economic policy.

In Bristol, reporting on regional business, climate change, AI, tech

GETIR delivery scooters in Paris, France, May 17, 2023.

What’s behind the power struggle at Mubadala-backed Turkish firm Getir?

The start-up, once valued at more than $10 billion, has been struggling financially over the past year due to waning consumer demand.

In Bristol, reporting on regional business, climate change, AI, tech

A general view shows a new oil plant inaugurated March 22, 2006, in Haradh, Saudi Arabia.

Analysis

Saudi Arabia navigates oil cuts amid Trump pressure, economic strains

Saudi Arabia would need oil to be at $90 per barrel in 2025 to balance its budget, according to Capital Economics.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

This picture shows a construction site for Saudi Arabia's Public Investment Fund in Riyadh, on April 16, 2023.

Saudi Arabia’s non-oil private sector grows at fastest rate in over a decade

Saudi Arabia's General Authority for Statistics said last week that the kingdom's non-oil GDP growth rate was up 4.3% from 2023, while oil activities declined by 4.5%.

Latest News

Egypt’s economic reboot fuels bond market return with $2B sale

Egyptian pound banknotes sit on a table on March 6, 2024, in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market.

WEF: Arab businesses ‘very keen’ to invest in Syria after Assad’s ouster

Syria's Foreign Minister Asaad al-Shibani looks on during a session as part of the World Economic Forum annual meeting in Davos, on Jan. 23, 2025.

Al-Waleed bin Talal announces Four Seasons to reopen in Beirut, Lebanon

A picture shows the four seasons hotel in Beirut with the snow covered mountain of Sannine in the background on March 8, 2019. (Photo by JOSEPH EID / AFP) (Photo credit should read JOSEPH EID/AFP via Getty Images)

Venture capital funding in Middle East falls by 29% in 2024

An employee at tech startup al-Gameya, uses a computer with the official Facebook page of the application open on a web browser, at the company offices in Cairo, on Sept. 12, 2021.

French former president Nicolas Sarkozy (C) and his wife Carla Bruni-Sarkozy arrive to vote for the first round of parliamentary elections in Paris, on June 30, 2024. A divided France is voting in high-stakes parliamentary elections that could see the anti-immigrant and eurosceptic party of Marine Le Pen sweep to power in a historic first. The candidates formally ended their frantic campaigns at midnight June 28, with political activity banned until the first round of voting. (Photo by ARNAUD FINISTRE / AFP

France’s Sarkozy stands trial on alleged Libya funding: What we know

Former President Nicolas Sarkozy denies allegations that he received 50 million euros to fund his 2007 election campaign from late Libyan leader Moammar Gadhafi.

Traders sit below the stock market screens at the Dubai Financial Market, United Arab Emirates, Sept. 16, 2019.

Gulf wealth funds propel Middle East deals in 2024

The Gulf region continued its trajectory toward becoming a global investment powerhouse as sovereign wealth funds fed capital into AI, clean energy, entertainment, sports, start-ups and tourism.

A man watches stock movements on a display at the Dubai Financial Market stock exchange in the Gulf emirate on April 12, 2022.

Analysis

Middle East IPOs shine in 2024 but face new challenges

Middle East IPOs hauled in over $13 billion in 2024, and the region also produced three of the year’s 10 largest listings worldwide.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Vehicles move past as people queue outside the main headquarters of the Central Bank of Syria to exchange US dollars at prices lower than the black market.

Who is Maysaa Sabrine, first woman to lead Central Bank of Syria?

Syria’s new leadership has appointed Maysaa Sabrine to head the country’s central bank, the first woman to do so in the institution’s history.

This picture taken on March 21, 2024 on Istiklal avenue, Istanbul, shows foreign exchange rates displayed against the Turkish lira. Turkey's central bank raised it's key interest rate on March 21, 2024, resuming a tightening cycle in a bid to tame rising consumer prices, one month after having held rates. In a statement the bank said that the monetary policy committee "has decided to raise the policy rate from 45 percent to 50 percent". (Photo by Yasin AKGUL / AFP) (Photo by YASIN AKGUL/AFP via Getty Images

Turkey’s Central Bank lowers interest rates for the first time in nearly 2 years

The decision to cut interest rates follows 18 months of monetary tightening and comes amid ongoing efforts to stabilize the country’s runaway inflation.

Emiratis wave national flags as citizens celebrate their country's 40 years of independence on National Day, in Abu Dhabi, on Dec. 2, 2011.

Analysis

Gulf’s citizenship industry poised for growth amid new global uncertainty

Flexible visa programs have emerged in the Middle East, fueled by wealthy Gulf states competing to attract foreign investors and skilled professionals as part of their economic diversification strategies.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

This picture shows a construction site for Saudi Arabia's Public Investment Fund (PIF) in Riyadh on April 16, 2023.

Mideast merger and acquisition activity hits $36B in 2024 led by UAE, Saudi Arabia

For the first 10 months of the year, merger and acquisition deals in the region reached $36 billion, up by 88% from a year earlier, a Bain & Company report said.

A Union flag flies above a hangar as a British Airways operated Airbus A747 passenger jet is moved by an aircraft tractor at Heathrow Airport, west of London on April 2, 2020, as life in Britain continues during the nationwide lockdown to combat the novel coronavirus COVID-19 pandemic.

Saudi Public Investment Fund takes 15% stake in London's Heathrow Airport

Spanish construction giant Ferrovial said it had closed the sale of a 19.75% stake in the UK capital’s busiest airport for 2 billion euros ($2.1 billion) to the PIF and French investment firm Ardian.

Syrian pounds are pictured at a currency exchange shop in the town of Sarmada in Syria's northwestern Idlib province, on June 15, 2020.

Syria's interim PM warns foreign currency shortage could hinder refugee return

Nearly 14 years of civil war, international sanctions and the exodus of 4.82 million Syrians have crippled the economy, resulting in a sharp decline of the Syrian pound.

Bpifrance, Saudi PIF sign $10B financing agreement

The five-year agreement will increase collaboration between PIF and Bpifrance Assurance Export, focusing on projects to support Vision 2030, Saudi Arabia’s plan to diversify the economy away from reliance on oil.

LUDOVIC MARIN/AFP via Getty Images

France's Macron eyes defense deals, Lebanon support on Saudi state visit

French President Emmanuel Macron will meet Saudi Crown Prince Mohammed bin Salman for a one-on-one dinner on Tuesday.

A teller counts US dollar bills at an exchange office, Ankara, Turkey, July 20, 2023.

Turkey launches counterfeit US dollar probe as exchange offices halt trade

The Banking Association of Turkey said currency counting machines, counterfeit currency detection devices as well as ATMs were being updated against circulation of counterfeit banknotes.