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
Gulf states blacklist terror financiers linked to Iran, Islamic State, Syrian regime Lead figures in the Assad regime’s Qatirji oil-smuggling network were among those sanctioned. Legacy: Gulf
Israel interest rates to continue upward trend Battling growing inflation, the Bank of Israel has significantly raised the country’s interest rates twice in recent weeks. Israel
How interest rate hikes affect Egypt’s economy The central bank may raise rates further by 100 to 200 basis points in 2022 to be in line with tightening global monetary policies. Yields on T-bills are set to rise. Egypt
Turkey’s middle class priced out of home ownership Buying a home has become an elusive dream even for middle-class professionals in Turkey as the country’s economic woes erupt into a perfect storm over the housing market. Turkey
Turkish lira continues to fall Turkey is in the midst of an economic crisis marked by high inflation. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
UAE meets $400 million target in first bond auction The Emirati government decided to sell bonds in dirhams to boost the local banking sector and diversify financially. United Arab Emirates
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
