Mubadala investments soar by 33% as UAE deepens AI ties with US Mubadala made 119 billion Emirati dirhams ($32.4 billion) worth of investments in 2024, up 33.7% from the previous year, according to a Thursday statement from the UAE fund. United Arab Emirates
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
Ill-conceived borrowing scheme costs Turkey double The cost of Ankara’s domestic borrowing in hard currency and gold is estimated to have hit nearly 32% per annum amid the slump of the Turkish lira, more than doubling the cost of borrowing in liras. Turkey
Saudi Aramco denies rumors it will produce bitcoins The Saudi state-owned oil company said reports it will engage in the process of creating cryptocurrency are "false." DONT USE - Gulf Pulse
Lebanon implements ration card program as economic crisis worsens The Lebanese parliament approved a law to fund ration cards for the most vulnerable families, while ending subsidies. Lebanon
Egypt looks to Islamic bond market for foreign investment boost Egypt’s sovereign bonds bill paves the way for Egypt to join the Islamic finance market, allowing foreign investment in national projects such as the Suez Canal and Aswan Dam, which affects Egyptian national security. Egypt
US weighs options as Lebanon’s allies move to assist military The Pentagon and State Department are exploring "creative ways" to help the Lebanese armed forces offset their costs amid financial crisis. Lebanon
Israel raids exchange companies for allegedly transferring funds to Hamas Israel continues to pursue exchange companies operating in the Palestinian territories under the rationale that they have been transferring funds to Hamas. Palestine
Iran's presidential hopefuls promise big on economy, but can they deliver? While candidates for the election this Friday have a long list of promises to fix the economy, inefficiencies in Iran's political structure limit the president's ability to make lasting change. Iran
Turkish lira remains volatile after surprise dip in inflation data Turkey’s annual inflation unexpectedly dropped to 16.59% in May, according to data published Thursday. The news did not steady the nation’s currency, which slid on market concerns over an early interest rate cut. Turkey
Turkey’s lira hits record low again The currency’s drop followed comments made by President Erdogan about lowering interest rates. News Brief
Israel could get own digital coin Joining the global race, the Bank of Israel presented last week the model it recommends for the digital shekel coin. Israel
Rifts plague Libya’s central bank Although a new unity government was formed in Libya, ending years of division in state institutions, conflicts still plague some financial institutions that control the country's economy, namely the central bank. Egypt
Turkey bans cryptocurrency payments The Turkish Central Bank said cryptocurrencies like Bitcoin are too risky and forbade their use in the country. News Brief
