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
Palestinian officials encourage competition among banks The Palestinian government in Ramallah will begin allowing Palestinian banks to compete with Bank of Jordan branches in the territories to collect citizens' payments for licenses and taxes owed to the Ministry of Transportation. Palestine
Ankara’s economic measures risk scaring off foreign banks Foreign-capital banks operating in Turkey are growing uneasy over economic measures aimed at pushing lenders to toe the line with government policies. Turkey
Will Egypt launch its own official digital currency? As Facebook announced it might not launch its digital currency as previously announced, experts in Egypt are debating whether the country should regulate digital currency. Egypt
Russia, Lebanon seek synergy in projects to rebuild Syria Moscow and Beirut each see potential benefits in working together to secure lucrative reconstruction contracts in Syria. Lebanon
Will Palestinian private sector rescue national economy? Business owners are trying to launch an initiative to lend the financially struggling Palestinian Authority as much as $200 million, but this effort has yet to take shape. Palestine
Iran’s central bank tightens grip on national payment system Iran’s central bank is increasingly closing loopholes in the country’s payment system that allowed for destabilization of the monetary and foreign currency markets. Iran
Egypt's parliament considering banking system draft law Egypt’s new Central Bank of Egypt draft law could raise the minimum capital requirement for banks tenfold. Egypt
Central Bank: 2019 will be difficult for Tunisian banks Tunisia's financial and political quarters worry about an imminent liquidity crisis threatening the banking sector. Tunisia
Will open market operations signal new chapter in Iran’s financial leadership? The Central Bank of Iran will soon engage in open market operations for the first time, but lingering structural issues and the possibility of government meddling threaten the effectiveness of such a measure in curbing money supply and inflation. Iran
Will Gaza contractors be able to resolve their crisis? The losses incurred in the construction sector in the Gaza Strip since 2007 have prompted the Palestinian Contractors Union to plan a September exhibition with the goal of promoting this sector; success in this endeavor, however, may hinge on the Palestinian Authority. Palestine
Losses of Turkey’s construction sector foisted on taxpayers Turkey has created a special fund to salvage debt-ridden construction companies, many of them government cronies, while relieving banks from bad loans, but the rescue operation is bound to put further burden on public finances and thus taxpayers. Turkey
How long can PA keep borrowing money from Palestinian banks? The Palestinian government announced its decision to pay 60% of the salaries of public employees, which could be achieved under a plan to borrow money from local banks to confront the financial crisis caused by Israel's deduction from clearing funds for the PA. Palestine
