Banking and Finance

Lebanese Minister of Economy Amin Salam (R) vists the port of the capital Beirut, as a corner of the silos which were destroyed in a massive explosion on August 4, 2020, burns on July 14, 2022. - The fire at the port's blast-hit grain silos, at risk of collapse due to severe damage, ignited at the start of the month because of fermentation of remaining grain stocks paired with rising temperatures. (Photo by ANWAR AMRO / AFP) (Photo by ANWAR AMRO/AFP via Getty Images)

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.

A woman looks on from Creek Harbout at the Dubai skyline with Burj Khalifa, the world's largest building (C) on Feb. 5, 2025.

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

People enjoy the sun and the sea along the Kadinlar Beach of Kusadasi on July 17, 2005.

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.

Price tags of olives are seen at a store on March 3, 2025, in Istanbul, 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.

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Analysis

Gulf wealth funds weather US stock dip, target Amazon, Bitcoin in Q1

TOPSHOT - Kuwaiti traders follow the stock market activity at Boursa Kuwait, in Kuwait City on April 7, 2025. According to official news agencies, Kuwait's primary index fell 5.7 percent, the Qatari stock exchange was down 4.2 percent, and in Oman, the Muscat stock market closed with a 2.6-percent decline. Under Trump's policy, goods from Saudi Arabia, Kuwait, Qatar, Oman and the United Arab Emirates will be subject to a 10-percent "baseline" tariff. The uncertainty over trade and manufacturing has helped t

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Mubadala investments soar by 33% as UAE deepens AI ties with US

Khaldoun al-Mubarak, Managing Director and Group Chief Executive Officer of the Mubadala Investment Company, speaks at a panel session during the World Government Summit in Dubai on February 12, 2024. (Photo by RYAN LIM / AFP) (Photo by RYAN LIM/AFP via Getty Images)

United Arab Emirates

Lebanon secures initial World Bank approval for $400M loan

Commuters drive past a newly-installed billboard bearing the image of a Lebanese flag and a statement that reads in Arabic "Lebanon a new era", replacing a Hezbollah billboard, on the road leading to Beirut's Rafic Hariri International airport on April 10, 2025. (Photo by JOSEPH EID / AFP) (Photo by JOSEPH EID/AFP via Getty Images)

IMF appoints first Syria mission head in 14 years: What to know

Employees stand behind stacks of local currency notes as they serve clients at an exchange shop in Damascus, on April 16, 2025.

KARIM SAHIB/AFP via Getty Images

UAE, Qatar lead Middle East in 2023 global foreign investment ranking

The United Arab Emirates sat in the top position among MENA markets and ranked 4th globally.

A general view of the Dubai skyline on November 30, 2020 in Dubai, United Arab Emirates.

UAE’s ‘Second Salary’ savings plan offers its expat majority passive income

The savings plan is the first step in establishing a long-term retirement plan structure by the savings and investment company, amid low rates of retirement savings in the region.

Saudi National Bank chairman resigns after Credit Suisse loss

Current CEO Saeed Mohammed Al Ghamdi will take over as the new chairman on March 27, with deputy CEO Talal Ahmed Al Khereiji filling his place.

A stock market ticker displays financial information and world time zones in the lobby of the Tel Aviv Stock Exchange.

Israeli shekel, stocks rally as Netanyahu pauses judicial reform

The right-wing Israeli government’s controversial judicial reform plans have divided Israeli society and led to concerns among the Israeli tech sector and global financial institutions.

A man walks past a sign of the Reserve Bank of India (RBI) in Mumbai on August 5, 2022. - India's central bank on August 5 hiked interest rates for the third time in four months, as Asia's third-largest economy contends with a widening trade deficit and weakening currency. (Photo by Indranil MUKHERJEE / AFP) (Photo by INDRANIL MUKHERJEE/AFP via Getty Images)

UAE, India to boost cooperation via digital currency

The Emirati Central Bank has begun implementing its digital dirham strategy following a financial cooperation agreement with India and the UAE's cryptocurrency push.

The safety car drives in front of Red Bull Racing's Mexican driver Sergio Perez (L) during the Saudi Arabia Formula One Grand Prix at the Jeddah Corniche Circuit in Jeddah on March 19, 2023. (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Saudi Arabia inks 14 deals at Jeddah Grand Prix in boost to sports industry

The agreements were part of a comprehensive sponsorship program hosted by Invest Saudi, the kingdom’s investment promotion entity. The value of the deals was not disclosed.

Vehicles drive in Amman on February 22, 2023. (Photo by Khalil MAZRAAWI / AFP) (Photo by KHALIL MAZRAAWI/AFP via Getty Images)

Analysis

Jordan economic rating shows upswing, but problems remain

Jordanians in the private sector are praising their government's ambitious economic strategies, but still see systemic inefficiencies as a barrier to making them a reality.

By Salim A. Essaid

A worker in an oil field developed by Almetyevneft, an oil and gas production board (NGDU) of Tatneft.

Oil sinks below $75 a barrel, lowest price in more than a year

The news follows the Saudi National Bank declining to inject more money into the struggling Credit Suisse, as well as Silicon Valley Bank’s failure.

People walk past the headquarters of ByteDance, the parent company of video sharing app TikTok, in Beijing on September 16, 2020. - Silicon Valley tech giant Oracle is "very close" to sealing a deal to become the US partner to Chinese-owned video app TikTok to avert a ban in the United States, President Donald Trump said on September 15. (Photo by GREG BAKER/AFP via Getty Images)

UAE’s G42 buys $100 million share in China's ByteDance, parent of TikTok

ByteDance, the parent company of TikTok, has seen its value fluctuate, predominantly due to investor uncertainty caused by a possible ban on TikTok in the United States.

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on March 15, 2023, in New York City.

Saudi National Bank will not increase stake in Credit Suisse after shares drop

Credit Suisse’s financial struggles follow the collapse of Silicon Valley Bank and could likewise have ramifications for the Middle East.

Justin Sullivan/Getty Images

Silicon Valley Bank collapse reverberates in Israel, Gulf

Israeli startups had a lot of money in Silicon Valley Bank and may need the government’s help.

A man counts Egyptian pounds at a currency exchange shop, Cairo, Egypt, Nov. 3, 2016.

Major bitcoin fraud case rattles Egypt

Hundreds of Egyptians were swindled by an international crypto mining company, raising controversy over the digital currency that has grown in popularity in cash-strapped Egypt.