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
Egypt seeks land route with Jordan, Iraq to boost trade Egypt recently announced a deal between Jordan and Iraq for the establishment of a land route connecting the three countries, in a bid to boost economic and trade relations between them. Egypt
Is Turkey challenging Egyptian influence in Guinea-Bissau? Amid regional warnings of Turkey's growing role in West Africa, including Guinea-Bissau, Egyptian President Abdel Fattah al-Sisi received a call from Umaro Sissoco Embalo, president of Guinea-Bissau, to discuss ways to develop cooperation in the economic and security fields. Egypt
The Netherlands puts Qatar trade event on hold over foreign workers' deaths The Dutch government postponed a trade mission in Qatar after a report on thousands of workers dying there since the country was awarded the 2022 World Cup. Qatar
Lebanese pound falls to all-time low on black market as people protest Lebanon's harrowing economic crisis worsened when the pound fell against the dollar again on the black market. Lebanon
Turkey emerges with ‘Pyrrhic growth’ from pandemic-hit 2020 Turkey’s economy grew 1.8% last year despite the pandemic, but not without major risks and downsides, including a smaller GDP in terms of dollars. Turkey
Egypt boosts investment in Congo, hoping to secure support in Nile dam crisis As Egypt seeks to grow its influence in Congo by boosting investments, Kinshasa takes over the chairmanship of the African Union, which is currently sponsoring the negotiations to resolve the dispute over the Grand Ethiopian Renaissance Dam. Egypt
Despite coronavirus, Suez Canal records high revenues Despite the negative repercussions of the outbreak of the coronavirus on global trade, the Suez Canal took in $5.61 billion in 2020, its third-highest total ever. Egypt
Egyptian-Turkish trade agreement comes under fire A member of the Egyptian parliament called for the need to reconsider the free trade agreement between Egypt and Turkey signed 15 years ago, claiming that it harms Egyptian interests and favors Turkish exporters. Egypt
Egypt concerned UAE-Israeli pipeline project will affect Suez Canal Egyptian officials have been expressing concern over the anticipated competition from the Eilat-Ashkelon pipeline project that would transport Emirati oil to Ashkelon in Israel and from there to European markets. United Arab Emirates
Egypt seeks completion of pan-African road through 10 countries to Cape Town Egypt plans to work with nine other countries to complete the construction of a highway linking the country’s north to Cape Town in South Africa by 2024, with hopes of expanding trade in the African continent. Egypt
How car bombs are making their way into northern Syria As local councils in northern Syria, which is under the control of Turkish-backed rebels, fail to make car dealers obtain licenses and register their offices, chaos prevails in the car market, as car bombs and explosions claim the lives of dozens of civilians. Syria
