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
Israel’s first digital bank opens for business Newly authorized by the Bank of Israel, the country’s new digital bank One Zero is taking on several hundred customers each week and 75,000 more people interested in the new platform. Israel
Saudi Arabia announces $600 million in new investment from startups, venture capitalist Foreign direct investment in Saudi Arabia slowed later in 2021 after a promising start, and some entities are reluctant to invest there due to the human rights situation. Saudi Arabia
Israel unhappy over unregulated cryptocurrency trade Israeli authorities are demanding the international crypto stock-exchange Binance to explain unregulated digital currency trade in the country. Israel
Lebanese wary of rise of customs duties amid economic crisis The cash-strapped Lebanese government has approved a draft budget law for 2022 that hikes the customs dollar and imposes new duties, as the country battles a severe economic crisis. Lebanon
Standard Chartered eyes churning out profits from Egypt Egyptian authorities are betting on Standard Charter's expertise to boost online banking and stoke competitiveness. Egypt
Qatar National Bank launches environmentally friendly finance project The Doha-based bank will loan cash to the British bank HSBC to be used for green transportation investments. By Al-Monitor Staff
Saudi business group touts plan to improve economic ties with Russia Russia is working to improve relations with Saudi Arabia and wants the kingdom to buy its S-400 missile defense system. Russia
Turkey’s central bank continues window dressing with currency swaps Hit by a foreign reserves drain, Turkey’s central bank eyes fresh currency swap deals, including with the central banks of Azerbaijan, Turkmenistan, Uzbekistan and Libya. Turkey
Saudi Arabia to maintain current debt amount Saudi public debt has increased in recent years with the decline in global oil export revenues. By Al-Monitor Staff
Egyptians carry on tradition of entrusting savings to gold Many Egyptians see gold as the safest investment option for their savings, especially in times of economic uncertainty. Egypt
Turkish lira tumbles ahead of key decision on rate cuts, wages As Turkey’s battered lira pushes to new lows against the dollar, all eyes turn to Thursday’s central bank meeting and critical talks on the minimum wage. Turkey
US sends envoy to engage Gulf, Israel on cybersecurity A deputy secretary of the US Treasury is heading to the Middle East to talk coordination on maintaining an edge in the digital domain. Israel
