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
Oman continues economic reforms by listing drilling company on stock exchange Oman’s fiscal performance has improved in the last year, and the country wants to produce more alternative forms of energy, such as hydrogen. Legacy: Gulf
Explainer: Turkey’s Halkbank appeals to US Supreme Court in Iran sanctions case The case comes at a tense time in US-Turkey relations as the Biden administration weighs whether to sell F-16 jets to Turkey. Turkey
Iraq's PM Sudani hosted US envoy ahead of meeting Iran's Quds commander Iraqi Prime Minister Mohammed Shia al-Sudani received high-ranking US and Iranian envoys separately for discussions of bilateral issues related to both countries. Iran
European investigative team in Lebanon starts probe into Riad Salameh French Judge Aude Buresi is leading the European delegation, and was scheduled to interview at least 15 bankers and business figures in the country tied to Salameh. Lebanon
Analysis Can Islamic cryptocurrencies save the industry? Cryptocurrencies lost over a trillion dollars in value in 2022, yet Islamic coins are emerging with ethical practices claiming to potentially resist such losses. By Salim A. Essaid
Turkey's inflation slows most in December in a boost to Erdogan Facing crucial elections in spring, the Turkish government is trying to take credit for curbing inflation, even though the steep decline in the annual rate owes mostly to a favorable base effect. Turkey
2022 in review: Reforms, Ukraine war drive boost in UAE’s real estate market Improved regulatory policies and diplomatic measures amid the Ukraine war have welcomed foreign direct investment and boosted the UAE real estate market in 2022 above the global average. Legacy: Gulf
Gulf central banks raise interest rates after Fed move Many Gulf nations have mirrored the US Federal Reserve’s decisions on interest rates all year. Israel and Egypt have also raised rates, but Turkey has been cutting — despite skyrocketing inflation. Legacy: Gulf
World Bank says debt increasing in Middle East countries Egypt, Iran and Turkey’s debt rose significantly last year. Legacy: Gulf
Egypt’s non-oil private sector records two years of contraction The last time the Purchasing Managers Index, which offers insight into the private sector, recorded expansion in Egypt's economy was back in November 2020. Egypt
Some Egyptian companies still dealing with Russia's alternative financial system Some Egyptian companies are secretly dealing with a Russian alternative financial system, in anticipation of international sanctions by the United States. Egypt
Venture funding in Maghreb region gets facelift As the number of startups in the Maghreb region increases and venture funding experiences a meteoric rise, the region is gradually taking a visible spot in the MENA startup ecosystem. North Africa
