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
IMF emergency financing for Egypt mitigates coronavirus crunch The International Monetary Fund has approved a nearly $2.8 billion loan for Egypt to address its economy, which has been hit hard by the coronavirus crisis. Egypt
New banking regulations threaten press freedom in Turkey Recent measures seeking to limit damaging information on the financial system pose new threats to press freedom in Turkey. Turkey
Lebanese bank official arrested for alleged currency manipulation Lebanon's central bank denied the allegations; the Lebanese pound's value has decreased significantly amid the ongoing economic crisis. Lebanon
Lebanon to seek IMF assistance to help with economic crisis The prime minister said Lebanon would seek $10 billion in loans from the international financial institution after passing a reform bill. Lebanon
Israel’s largest bank admits to helping taxpayers use offshore accounts, facilitating FIFA conspiracy Bank Hapoalim agrees to pay the United States more than $900 million in connection with the two cases. Israel
Oman’s sovereign wealth fund under pressure Ahead of the prospect of a high budget deficit in 2020, assets held by the State General Reserve Fund (SGRF) plunged by about a third to $14.3 billion. Oman
Banks can't save Gulf economies Because of the way they are set up, GCC banks will have a hard time providing the funds that could help jump-start regional economies as the COVID-19 pandemic continues to take its toll. Legacy: Gulf
Turkey offers fresh money to companies, seeks donations for the poor amid coronavirus crisis While enhancing monetary expansion measures to prop up companies and banks against the coronavirus crisis, Ankara is calling for donations from the public to support the poor. Turkey
Tehran stock market could remain strong despite Iran's economic downturn Now might be a good time to list companies on Tehran’s booming stock exchange. Iran
Egypt to offer investors shares in military-run companies Egypt’s Sovereign Fund is assessing military-run companies in a bid to open them up to domestic and foreign investors. Egypt
Egypt seeks economic haven from coronavirus threat The Central Bank of Egypt is taking steps to protect the country's economy as it weathers the coronavirus pandemic. Egypt
Ankara’s economic measures bring little relief against virus crisis The embattled Turkish lira has continued to nosedive and Turkey’s risk premium has climbed to new highs despite a package of government measures to stem the economic impact of the coronavirus pandemic. Turkey
