Banking and Finance

Turkey's Minister of Finance Mehmet Simsek takes part in a panel discussion during the Doha Forum in the Qatari capital on December 7, 2024. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

Turkey's Simsek says economy will ride out Trump tariffs without lasting scars

Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop.

Jared Kushner, founder and CEO of Affinity Partners, and Steve Witkoff, US Middle East envoy, during a panel discussion at the FII Priority summit, Miami Beach, Feb. 20, 2025.

UAE, Qatar investments fuel Jared Kushner's firm assets to $4.8 billion

Commitments from Abu Dhabi–based asset manager Lunate and the Qatar Investment Authority, the sovereign wealth fund, increased Affinity’s assets by $1.5 billion over a year.

United Arab Emirates

Karim Souaid

Meet Karim Souaid, Lebanon’s new central bank chief with daunting mission

The appointment of a new central bank governor comes nearly two years after the term of embattled governor Riad Salameh ended in July 2023.

Protesters clash with Turkish riot police using tear gas and water cannon during a demonstration following the arrest of the mayor of Istanbul in Ankara, on March 22, 2025.

Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge

The Turkish lira and equities have fallen sharply since the arrest last week of Istanbul Mayor Ekrem Imamoglu — a key rival to President Recep Tayyip Erdogan — on corruption charges, which he denies.

Latest News

UAE, Egypt, Saudi Arabia finance startups lead Forbes Middle East Fintech50

Participants arrive to attend the annual Future Investment Initiative (FII) conference in Riyadh on Oct. 29, 2024.

Analysis

A year on, UAE walks BRICS tightrope amid escalating US-Brazil rhetoric

UAE President Sheikh Mohammed bin Zayed Al Nahyan walks with President Luiz Inacio Lula da Silva of Brazil, on an official visit to the United Arab Emirates, April 15, 2023.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

UK removes 24 Syrian entities from sanctions list, including central bank

Syrian central bank

Saudi Arabia's PIF bans PwC advisory, consulting services: What to know

The PricewaterhouseCoopers offices are pictured on Oct. 2, 2018, in London, England.

FAYEZ NURELDINE/AFP via Getty Images

Saudi's PIF downsizes foreign investment, turns to AI, domestic priorities

Saudi Arabia's sovereign wealth fund is looking to invest in tourism, real estate and sustainability as its Vision 2030 deadline draws closer.

Attendees arrive for the yearly Future Investment Initiative (FII) conference in the Saudi capital Riyadh on Oct. 24, 2023.

Saudi Arabia pushes for Africa debt relief as private investments set to reach $25B

Saudi Arabia is pushing for debt relief for African nations burdened with more than $1 trillion in liabilities.

Attendees take part in the annual Future Investment Initiative (FII) conference in the Saudi capital, Riyadh, Oct. 25, 2022.

What to expect at Saudi Arabia's eighth Davos in the Desert

This year's Future Investment Initiative focuses on tech, energy and investment as Saudi Arabia steps up efforts to diversify its economy away from hydrocarbons.

Attendees take part in the annual Future Investment Initiative (FII) conference in the Saudi capital Riyadh on October 25, 2022. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

What to make of Saudi Arabia's $96B in foreign direct investment in 2023

Driving foreign investment into key sectors is part of Saudi Arabia's efforts to diversify away from an oil-dependent revenue model.

Starbucks sales see 7% drop, largest since pandemic, amid Gaza boycotts

The company has been grappling with protests and boycott campaigns on social media due to the Israel-Gaza war and the union fight in the United States.

AFP via Getty Images

Middle East startups see 34% uptick in global investors

Data firm MAGNiTT reported Tuesday that the Middle East far outperformed other markets and regions, including Africa and Southeast Asia, which saw steeper drops.

Turkey’s President Recep Tayyip Erdogan on Wednesday hosts Abdel Fattah al-Sisi during the Egyptian leader's first-ever Turkey visit, in Ankara, on Sept. 4, 2024.

Analysis

With reconstruction in mind, can Turkey-Egypt thaw offer lifeline for Libya?

The complex interplay of regional and international interests and entrenched divisions within Libya itself suggest that progress may be slow and difficult to achieve.

Mohamed Eljarh

By Mohamed Eljarh

Bahrain's Bapco Energies signs pipeline deal with BlackRock

Bahrain, one of the smallest producers in the Gulf, is focused on developing its downstream sector and looking at asset monetization deals.

Employees of Aramco oil company work in Saudi Arabia's Abqaiq oil processing plant on September 20, 2019.

Analysis

Can Saudi Arabia afford giga-projects with oil prices under $75 per barrel?

Riyadh could soon run a current account deficit as oil revenue declines amid huge spending commitments toward ambitious Vision 2030 projects. Saudi-led OPEC has also deferred an output increase plan to allow more time to reach desired oil prices.

Jennifer Gnana

Samuel Wendel

By Jennifer Gnana , Samuel Wendel

A bank teller counts money as a customer looks on at a bank in Libya's western coastal city of Misrata on Aug. 25, 2024.

Libya factions agree to appoint new central bank chief to end crisis: UN

The House of Representatives, based in the eastern city of Benghazi, and the High State Council in Tripoli in the west signed a joint statement after two days of talks hosted by the UN Support Mission in Libya.

Police officers stand guard outside Libya's Central Bank headquarters in Tripoli on Aug. 27, 2024.

Interview

From Turkey, exiled Libyan Central Bank governor decries 'coup d'etat'

Governor Sadiq al-Kabir spoke exclusively to Al-Monitor after he and other senior officials at the Libyan Central Bank fled to Istanbul at the end of last month, as militias linked to Libya's internationally recognized government threatened them.

Sadiq al-Kabir

Sadiq al-Kabir

Governor of the Central Bank of Libya

A clerk counts banknotes at a currency exchange office in Lebanon's capital Beirut, on January 20, 2023.

Analysis

How close is Lebanon to being added to FATF grey list for money laundering?

The Paris-based Financial Action Task Force (FATF) is considering adding Lebanon to its ‘’grey list’’ of countries that enable money laundering by terror groups.

Rina Bassist

By Rina Bassist

In Paris, reporting on Israeli politics and European affairs