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
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
Israel’s first digital bank now rolling Israel’s first digital bank wants to create a revolution in the banking sectors, much like Spotify revolutionized the music industry and Tesla the vehicle market. Israel
Turkish markets rattled after surprise firing of central bank head Turkey’s lira and main stock index slid about 9% Monday as markets reacted to the surprise removal of the nation’s central bank chief amid broader political turmoil. Turkey
Turkish Central Bank holds interest rate steady As forecasted, Turkey’s Central Bank policymakers held a key interest rate steady Thursday, saying they would continue working to reel in the nation’s double-digit inflation. Turkey
Cash-strapped Turkey relies on Qatari investments In only five years, Qatar has come to account for 15% of all foreign direct investments in Turkey, second only to deep-rooted Dutch investors. Turkey
International financial alliance forms to help Iraq Several countries are forming an economic alliance to help Iraq in its financial crisis. Iraq
Iran desperate to maintain Iraqi financial lifeline Iran seeks to maintain the flow of hard currency from Iraq to help it overcome the US sanctions. Iraq
Egyptians turn to Bitcoin amid coronavirus crisis Soaring prices of cryptocurrencies, most notably Bitcoin, are tempting many unemployed Egyptians seeking to achieve quick gains, amid fears of Bitcoin being exploited to finance terrorism or illegal trade. Egypt
