World Bank ups Middle East 2025 economic outlook as oil, tourism rebound The lender expects gross domestic product growth in the region to average 2.8% this year, up from its April forecast of 2.6%. Iran
Supreme Court clears path for Turkey’s Halkbank trial over Iran sanctions The Turkish president personally raised the Halkbank case with US President Donald Trump at the White House, as Ankara pushes for a settlement to avoid a drawn-out legal battle. Turkey
Culture Marrakech's African Contemporary Art Museum reinvents itself two years after quake Marking the two-year anniversary of the 2023 earthquake, Marrakech’s Museum of African Contemporary Art highlights the city’s recovery and its growing role as a hub for African art. Morocco
Blackstone, Abu Dhabi's Lunate set up $5B GCC logistics investment platform The new platform will capitalize on the growing logistics sector in the Gulf. United Arab Emirates
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
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
