Abu Dhabi merges ADQ into new wealth fund L'IMAD: What to know Under the new structure, Sheikh Khaled bin Mohammed, the crown prince of Abu Dhabi, will oversee a broader swath of the emirate’s investment holdings. United Arab Emirates
UAE Central Bank approves first US dollar-backed stablecoin: What to know The approval marks a milestone in the UAE’s development of digital currency infrastructure and positions USDU as the Gulf country’s first USD-denominated currency for digital assets. United Arab Emirates
Iran internet blackout estimated to cost $37M+ daily, crippling businesses and society The ongoing digital disconnection is severely stalling commerce, draining millions of dollars daily and pushing many businesses toward collapse. Iran
Can Iran’s promised economic reforms quell unrest? The Iranian government has made several economic pledges to protesters, though some carry risk of increasing inflation further. Iran
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
Tehran Stock Exchange: The end of an illusion Many Iranian investors have recently seen the value of their portfolios drop significantly due to governmental overregulation in times of market growth. Iran
Lebanon-IMF talks make little progress despite bank collapse The Lebanese ruling elite is still bargaining over the economic reforms required by the International Monetary Fund, while the country’s economic situation continues to go downhill. Lebanon
Lebanon's central bank to take over banks that cannot boost capital The central bank is giving Lebanese banks until February to increase their capital by 20% or give their shares to the government amid fears that people's deposits are at risk. Lebanon
IMF calls for Lebanon reforms, explores ways to assist Beirut The International Monetary Fund, which began talks with Lebanon in May, called for critical economic reforms in the aftermath of the Beirut blast. Lebanon
Turkey’s ‘peg-legged’ foreign currency reserves Turkey’s central bank appears increasingly fragile, with more than 60% of its reserves secured through swap deals. Turkey
Lebanese banks raise exchange rate to dollars as crisis worsens A member of the government's IMF negotiations team also resigned in opposition to the government's handling of the worst financial crisis in decades. Lebanon
Oman weighs costs of bailout from Gulf neighbors Gulf countries might step up to keep Oman’s public finances afloat, but experts warn strings may be attached. Saudi Arabia
