Mideast private equity down 38%, but higher-value deals dominate Saudi Arabia was the region’s most active market with 13 transactions, followed by the UAE with 12. Saudi Arabia
Wealthy flock to UAE, fueling Dubai’s 32% company surge: What to know Gulf states are diversifying their economies away from reliance on oil, and the UAE is leading the charge, with the country on track to welcome nearly 10,000 high-net-worth individuals this year. United Arab Emirates
Meet Karim Attiyeh, youngest Arab American billionaire of Lebanese origin Karim Attiyeh, a Lebanese-born technologist, has been named by Forbes Middle East as the youngest billionaire of Arab origin in the United States, joining the list of the 125 richest immigrant billionaires in the US. Lebanon
Saudi Arabia to invest $6B in Syria in boost to Sharaa: What to know The kingdom has been at the forefront of diplomatic and economic efforts to support Syria's recovery. Syria
Analysis Israel raises interest rates in eighth consecutive hike in 10 months Fighting rising inflation, Bank of Israel Gov. Amir Yaron took the unpopular decision of increasing the interest rates to 4.25%. By Danny Zaken In Ma'ale HaHamisha, reporting on Israel
Iran's currency dips to all-time low, basic prices skyrocket Recently launched government plans to restore stability to the troubled foreign exchange market proved no remedy, as ordinary Iranians continue to see their pockets shrink. Iran
Analysis Ukraine war at year 1: Has Gulf's neutrality on Russia invasion paid off? Gulf countries — mainly the United Arab Emirates, then Qatar — as well as Turkey have been major recipients of Russian real estate investment in addition to direct financial injections. By Salim A. Essaid
Bahrain hotel to accept cryptocurrency payments Crypto continues to grow in Bahrain despite the global crash. Legacy: Gulf
Egypt plans to sell stakes in 32 state-owned companies within year The announcement comes as the government is moving to reduce the state’s footprint in the economy, and includes two military-owned enterprises and three banks. Egypt
Egypt’s non-oil sector suffering under high inflation: Report Egypt is experiencing rising inflation and the depreciation of its currency, but the country’s stock exchange is doing well and the IMF recently agreed to a massive aid package. Egypt
Egypt keeps interest rates unchanged to start 2023 Inflation in Egypt was on the rise at the end of 2022, with food prices being of particular concern. Egypt
Qatar stays put after US, Saudi Arabia, UAE raise interest rates The Gulf central banks’ moves followed the US Federal Reserve raising its rates. Inflation increased in both Qatar and Saudi Arabia at the end of 2022. Legacy: Gulf
Explainer: What is behind Lebanon's new exchange rate? There are multiple exchange rates between the Lebanese pound and the US dollar, and the official rate being below the black market rate helps financial institutions pass on their losses to the public. Lebanon
Explainer: What is behind Iraq's Central Bank shuffle and what is next? The economic crisis in Iraq as a result of the ongoing rise in the value of the US dollar against the dinar resulted in the prime minister sacking the heads of the Central Bank of Iraq and the Trade Bank of Iraq. Iraq
Kuwait's government resigns in latest parliament standoff This is the fifth Kuwaiti government that has resigned in the past two years, highlighting growing tension between the country’s authorities. Legacy: Gulf
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
