Lebanon secures initial World Bank approval for $400M loan Lebanon is seeking international support to cover an estimated $11 billion in reconstruction costs, as its government navigates ongoing political and security challenges. Lebanon
IMF appoints first Syria mission head in 14 years: What to know Syria's new government faces the task of revitalizing an economy that has been devastated by 14 years of war and ravaged by international sanctions. Syria
First Syria delegation under Sharaa visits US, will attend IMF meetings: What to know Syria's new government faces the daunting task of rebuilding an economy shattered by war and burdened with debt, ongoing sanctions and reconstruction costs. Syria
Egypt's Sisi visits Qatar, nabs $7.5B in investments: What to know President Abdel Fattah al-Sisi’s trip to Doha comes amid Egypt’s moves to improve ties with Turkey and tensions with the UAE over the Gaza war. Egypt
World Bank praises Palestinian easing of COVID rules, criticizes Israeli control The international financial body recommended several governance reforms for the Palestinian Authority to increase economic growth. Palestine
Egypt wants shipping agencies to deal in pounds amid dollar flight After Egypt’s currency devaluation in March, the Egyptian government hopes to ease the strain on its banking system by mandating that international shipping agencies accept Egyptian pounds instead of US dollars as payment. Egypt
Fundraising by Israeli startups expected to decline during 2022 A survey of Israeli startup companies shows a significant drop in fundraising. Israel
UAE investments boost Egyptian economy The United Arab Emirates is seeking profits by investing $2 billion in Egyptian state-held stakes in some companies. Egypt
Saudi Arabia sends $50 million to Jordan for budget as economy falters The Jordanian government is working to close tax loopholes and increase its revenue collection amid its economic struggle. Jordan
Analysis The Takeaway: Ukraine war worsens Middle East oil gap Sudan’s Burhan accuses UN envoy; Egypt increases support for Sudan; Libya cracks down on human rights activists; Turkey’s farmers face economic pinch; Islamic State uses dust as cover in Iraq … all in less than 1,200 words! By Andrew Parasiliti , Elizabeth Hagedorn
Inflation storm worsens Turkey’s income distribution gap Banks and big companies have benefited from Ankara’s controversial policy to keep interest rates low, while soaring inflation eats into the real income of the wage-earning masses. Turkey
Online shopping in Turkey took off in 2021 The jump coincides with growth in Turkey’s fintech sector, but e-commerce faces some challenges. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
OPEC loans $100 million to Morocco to promote financial inclusivity Financial technology (fintech) is expanding across the Middle East and enabling more people to use financial tools. But some cultural barriers remain. Morocco
Dubai regulator announces increased protection for whistleblowers The UAE is working to increase its financial transparency after being linked to sanctions evasion and the flow of dark money. United Arab Emirates
How religious convictions influence business culture in Egypt Recent fatwas remind Egyptian Muslims that receiving interest on a savings account is permitted, but profiteering from scarce supplies is not. Culture
SWIFT cutoff leaves Egyptian students in Russia empty handed Russia's exclusion from global payments systems has prevented thousands of Egyptian students in the country from receiving money from their families back home. Egypt
