Analysis Jordan shores up US lifelines as Iran targets Amman’s reliance on Washington Already a leading recipient of US aid, Jordan has secured fresh funds from the United States as the Iran war tests Amman and Washington's partnerships. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How Gulf banks are absorbing Iran war shocks GCC lenders had a strong hand when the Iran war erupted, affording them resilience to shocks, but risks remain. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
US to drop Syria from terror blacklist The terrorism label remained a key obstacle to Syria's postwar reconstruction. Syria
Explainer French energy, shipping giants explore Syria deals during Macron visit The two countries signed preliminary pacts spanning transport, healthcare, banking, infrastructure and development on Tuesday, even as twin explosions in the capital underscored the fragile investment environment. Syria
Interview Saudi labor localization will take ‘generation or two': Armada CEO Olivier Badard CEO of Armada Holding
Lebanon's scorned central bank chief Riad Salameh steps down Salameh is under investigation in both Lebanon and Europe for financial crimes as Lebanon’s economic crisis continues. Lebanon
Gulf central banks raise interest rates after US Federal Reserve decision Gulf central banks also held firm in June when the Fed paused its rate hikes. Legacy: Gulf
Morgan Stanley lowers Israel’s sovereign credit as Moody's issues warning Protests are mounting over the controversial judicial reforms, and the leading credit agency downgraded Israel earlier this year. Israel
Kuwait prohibits all cryptocurrency use in new virtual assets ban Users of cryptocurrencies and other virtual assets in Kuwait would be subject to Kuwait’s 2013 money laundering and terrorist financing laws. Kuwait
Turkey’s Central Bank hikes interest rates to 17.5% The 250 basis point rise was lower than analysts' expectations, many of whom advocate for a steeper hike. Turkey
Lebanon’s Riad Salameh interrogated, assets frozen as citizens raid banks The judicial proceedings against central bank governor come against the background of a worsening economic and political crisis, and as his term is set to expire next month. Lebanon
Turkish lira hits record low, losing 2% amid concerns of smaller rate increase As of 4:15 p.m. Istanbul time, the lira was trading at 26.99 against the dollar, 2.4% less than Monday’s close of 26.3505. Turkey
Kuwait's new sovereign wealth fund Ciyada to boost foreign investment The Gulf country already has the Kuwait Investment Authority with assets of about $803 billion, making it the fifth-largest sovereign wealth fund globally. Legacy: Gulf
UAE suspends Emirates Gold over money laundering allegations The London Bullion Market Association, which regulates the United Kingdom capital’s metals market, suspended Emirates Gold DMCC’s affiliate membership after conducting a review. United Arab Emirates
UAE becomes observer in Asian money laundering group The move follows the UAE being added to a financial watchdog’s list of countries with deficiencies in countering money laundering. Legacy: Gulf
Saudi Public Investment Fund reports $11 billion loss for 2022 Saudi Arabia's sovereign wealth fund reports its assets have risen from $676 billion to about $778 billion in 2022 in a rare gesture of transparency for the Gulf. Saudi Arabia
Pakistan thanks 'brotherly' Saudis for $2 billion ahead of IMF bailout decision Pakistan received Saudi Arabia's $2 billion deposit a day before the International Monetary Fund is expected to approve a $3 billion bailout on Wednesday that the country desperately needs. Saudi Arabia
