Saudi Arabia lifts 5-year ban on Lebanon imports: What to know Saudi Arabia had been a main donor for Lebanon before ties strained during Hezbollah’s rising influence in the country. Lebanon
Suez Canal traffic soars as Hormuz disruptions reroute energy trade The canal generated $419 million in revenue in April, up 27% year over year. Egypt
Syria says Iraqi oil shipments surge as Damascus courts foreign energy investment Speaking at the Atlantic Council Global Energy Forum in Washington on Tuesday, Syrian Petroleum Company CEO Yousef Qiblawy said Iraq's overland oil exports through Syria have expanded rapidly in recent months. Syria
Explainer Saudi Arabia, Turkey advance plans to revive historic Hejaz Railway Turkish and Saudi officials signed agreements as part of a Turkish push to revive the Hejaz Railway linking Turkey to the Gulf through Syria, Jordan and Saudi Arabia. Turkey
Analysis Turkey pushes Iraq, Syria trade routes as Hormuz crisis disrupts Gulf shipping By Barin Kayaoglu In Ankara, reporting on geopolitics and national security
Iran turns to bonds to solve budget crisis Tehran has chosen to issue domestic bonds to address its expected budget deficit, a policy that promises to have complex impacts on Iran's economy. Iran
Kurdish authorities in Iraq lift lockdown following protests The reimposed lockdown came amid an increase in COVID-19 cases, but people protested the lack of work opportunities due to the restrictions. Iraqi-Kurdistan
Poverty could double in the West Bank as coronavirus takes toll, World Bank warns The bank estimates the percentage of poor households in the West Bank will increase from 14% to 30% in 2020. Palestine
Oman’s public sector reform risks brain drain By letting go of thousands of foreign experts, Oman risks losing the know-how central to achieving economic diversification. Oman
In latest spending cut, Oman not renewing majority of foreign consultant contracts Contracts will not be renewed for at least 70% of foreign experts and consultants working for the Omani government. Oman
Lebanon’s economic crisis is decimating its middle class The middle class in cash-strapped Lebanon is having a hard time making ends meet as salaries have been slashed and banks are imposing informal capital control, all compounded by the coronavirus-induced lockdown measures. Lebanon
Report: Etihad Airways faces debt restructuring or possible legal action The owners of the Emirati airline's debt submitted a restructuring proposal and are waiting to hear back. United Arab Emirates
Syrian government freezes assets of Assad cousin The move to seize the assets of the businessman is the latest in a dispute that began to heat up late last year. Syria
COVID-19 ravages Turkey’s vital clothing, textile industry Turkey’s clothing and textile sector, a vital source of employment and revenues, has become the worst-hit industrial branch in the coronavirus crisis, taking both domestic and external blows. Turkey
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
Gulf’s megaprojects face delays, reassessment Saudi Arabia has cut capital expenditure for a number of Vision 2030 projects amid a drop in oil prices and Chinese investment. Will other Gulf states follow suit? Saudi Arabia
