Lebanon arrests fmr economy minister Amin Salam on embezzlement charges The arrest comes nearly a year after the former central bank chief was arrested on charges of embezzlement and money laundering, among other things. Lebanon
EU commission removes UAE, adds Lebanon and Algeria to money laundering list: What to know The changes to the list are still pending approval from EU member states and the European Parliament, likely within the next month. United Arab Emirates
Turkey: $30M credit card scam hits tourists in coastal resort, 20 arrested The alleged ringleader, a hotel owner identified as "H.O.," stole the money by sharing credit card details of tourists checking into the property. Turkey
As Turkey's inflation dips to 35%, will central bank pivot on interest rates? Inflation has slowed to the lowest level since 2021, sparking speculation that the central bank could resume easing monetary policy amid mounting pressure on Turkey's finance chief — but analysts caution against a rush. Turkey
Analysis Gulf wealth funds weather US stock dip, target Amazon, Bitcoin in Q1 By Samuel Wendel In Washington, DC, reporting on regional business and tech
Coinbase 'welcomed' to Abu Dhabi's Hub71, hinting at new base in UAE Coinbase CEO Brian Armstrong said at a Dubai-based tech event that the UAE could serve as a hub for parts of the Middle East, North Africa and Asia. United Arab Emirates
Will Telecom Egypt stake sale help country achieve IMF reforms? An expert said it was "unclear” whether the sale helped solve Egypt’s “key problem” of accessing hard currency. Egypt
Analysis Saudi Aramco, high-value IPOs face impending pressure in 2023 The United Arab Emirates saw the world’s largest IPO of first quarter 2023, with ADNOC Gas PLC raising $2.5 billion on the Abu Dhabi Securities Exchange. By Salim A. Essaid
Egypt inflation drops to 31.5%, but food prices still rising Annual inflation fell slightly in April compared to the previous month as the central bank readies its next decision on interest rates. Egypt
Lebanon’s angry depositors demand their money back from banks Bank depositors staged a sit-in in Beirut to protest the banks' illegal policies imposed on their deposits amid a stifling economic crisis. Lebanon
In boost to China, UAE and Kuwait become 'dialogue partners' in Shanghai Cooperation Organization The Gulf states made up half of the new partners at the annual Shanghai Cooperation Organization meeting in 2023. United Arab Emirates
Gulf stock markets drop into red with new Fed rate hike The United States Fed raised interest rates by a quarter of a percentage point on Wednesday, which led to Gulf central banks following suit. Legacy: Gulf
Who are the UK-convicted couriers smuggling $130 million to UAE? The announcement from police of the bust in the UK follows the UAE government's efforts to combat money laundering in the country. Legacy: Gulf
Turkey's central bank keeps interest rate at 8.5%, citing inflation The decision will be the bank’s final before Turkey’s crucial election in May. Turkey
Sudan conflict poses credit risk to economies in region: Moody’s The credit agency warned that the fighting had shut down the Sudanese economy and could leave multilateral development banks exposed. The Horn of Africa
Egypt charges tourist ships in dollars as greenback crisis spirals Egypt commits tourist boats arriving in its ports to pay in US dollars amid a tough dollar shortage crisis in the populous country. Egypt
Turkey's Erdogan opens half-empty financial hub in Istanbul ahead of polls Incumbent President Recep Tayyip Erdogan denies the country is facing an economic crisis, while attacking the opposition for making backroom deals with money lenders. Turkey
