Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Erdogan aide named suspect in Turkey financial scandal Former AKP deputy chairwoman Fatma Betul Sayan Kaya is facing allegations of being linked to a market manipulation scandal. Turkey
UAE-Syria move ahead on $20 billion real estate mega-developments Major housing and tourism projects in Damascus and Latakia are set to advance following a new agreement with UAE real estate tycoon Mohamed Alabbar. Syria
Iran’s economy deteriorates, oil minister resigns, workers protest: What to know Iran’s oil minister has resigned amid mounting economic pressure from US sanctions and restrictions on the country’s exports. Iran
Analysis Turkey’s $20B fund crisis: Who profited, and who will pay? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Post-COVID Saudi Arabia doubles down on Vision 2030 Although foreign investors mostly took a pass on Vision 2030, Saudi companies and the Public Investment Fund will pour money into a $3.2 trillion reform plan. Legacy: Gulf
War over economic routes heats up in Syria Syria’s economic collapse is stoking the struggle over commercial routes between government-held areas and US- and Turkish-backed enclaves, fueling also disagreements on humanitarian aid. Turkey
Why Turkey is wooing Egypt How will improved relations between Cairo and Ankara boost bilateral trade and joint investment? A number of Egyptian businesspeople are keeping fingers crossed that easing tensions between the two Mediterranean countries will open up new opportunities. Egypt
Crisis-hit Turkey risks disastrous foreign investor flight Erdogan’s interference with the central bank is badly damaging foreign investor confidence in Turkey, threatening hard-currency crunches that could send the Turkish lira to new lows. Turkey
Reason for Suez Canal ship's grounding under investigation Authorities are looking for answers as to why the Ever Given got stuck in the canal, causing massive trade losses and danger to hundreds of thousands animals being transported. Egypt
Stars help peel back curtain from Israeli cannabis industry Former Minister Tzipi Livni is the latest in a long list of public figures and celebrities joining the rapidly growing medical cannabis industry in Israel. Israel
Ship stuck in Suez Canal finally freed Ever Given was refloated on Monday after being stuck on the Egyptian canal's bank for nearly a week, allowing for the resumption of traffic. News Brief
Egypt eyes economic foothold in Djibouti Egyptian policy involving East Africa takes a new turn, focusing on economics. Egypt
US offers to help Egypt reopen Suez Canal The US offer comes days after a giant vessel ran aground and became lodged sideways in the canal. News Brief
Stuck container ship creates giant traffic jam in Egypt's Suez Canal The massive Rotterdam-bound container ship ran aground Tuesday in poor weather conditions and low visibility, the Suez Canal Authority said. Egypt
No end in sight for Lebanese suffering amid deteriorating economic crisis Lebanon’s ruling elite has yet to form an urgent government to launch reforms to address the country’s worst economic crisis in decades, amid ongoing political bickering. Lebanon
Iraq gives visa on arrival to citizens of 30 countries The list includes the United States, China and other large economies in a bid to attract investment to Iraq; most foreigners need to apply for a visa before traveling to Iraq. Iraq
