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
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
Palestinian banks accused of colluding with Israel Palestinian banks in the Gaza Strip froze the accounts of dozens of associations and civil society institutions, sparking a wave of anger among them and the citizens who benefit from the services they provide. Palestine
Turkish inflation nears 20% on rising food, energy costs While Turkey’s latest official inflation figures beat expectations, raising some concerns over data integrity, consumer prices are expected to keep rising amid growing global energy costs. Turkey
World Bank approves loan to Egypt, praises government for growth during pandemic The loan accompanies various reforms, including actions to increase economic participation of women. News Brief
Erdogan backpedals on threat to expel 10 Western ambassadors After threatening to expel 10 foreign envoys, Turkish President Recep Tayyip Erdogan Monday appeared to de-escalate a diplomatic row sparked by the ongoing imprisonment of Turkish philanthropist Osman Kavala. Turkey
Despite reaching all-time high, Egypt’s external debt is within safe levels Inflows of foreign currency debt were spent on infrastructure, health care and overhaul of shantytowns across the country. However, Egyptian banks’ net foreign liability position stands out as a risk. Egypt
Turkey calls designation from global finance watchdog ‘unwarranted’ The Paris-based Financial Action Task Force added Turkey to its “grey list,” which indicates concerns about money laundering and terrorist financing. News Brief
