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
Iran's Khamenei calls for making economy independent Iran’s Supreme Leader Ayatollah Ali Khamenei spoke about the need for an economy that is not dependent on other countries. Iran
Trump, Kadhimi launch new chapter in US-Iraq relations US offers Iraqi prime minister aid, energy deals and continued cooperation against Islamic State. Iraq
Family silver next in line in Turkey’s debt crunch The hefty external debt of Turkey’s public and private sectors is increasingly imposing the option to offer asset swaps to creditors, including company shares and valuable real estate. Turkey
Oman kicks off ambitious reform project A significant revamp promises to slim down the Omani government, bring in new faces and mark the start of a new era. Oman
Jordan accuses teachers union of 'economic crimes' in crackdown Activists claim Jordanian government is applying "defense laws" to suppress dissent during economic downturn. Jordan
How megaprojects mitigated COVID-19 impact on Egypt’s labor market The coronavirus pandemic has increased the unemployment rate, but the impact could have been worse without the infrastructure overhaul. Egypt
Opting for backdoor measures, Turkey’s Central Bank holds interest rate steady Turkey’s Central Bank left a key interest rate unchanged in favor of liquidity measures Thursday in what analysts described as a “missed opportunity” to send a positive signal to the markets. Turkey
Despite dispute with Riyadh over Kashmir, Saudi-Pakistan ties remain strong Security and economic bonds mean that Islamabad’s recent disputes with Riyadh are unlikely to impact overall bilateral ties. Saudi Arabia
Israeli companies enthusiastic on deal with UAE, target Gulf market Israeli companies in the fields of cyber, water management, defense and even diamonds are lining up for launching business ventures in the United Arab Emirates. United Arab Emirates
Gulf migrant workers face crisis of unpaid wages amid pandemic Unscrupulous employers have exploited chaotic coronavirus mass repatriations to avoid paying migrant workers. Originals
Currency tumult hits Turkey’s credit-driven revival Apprehension is rife in Turkey that a loan-driven economic warm-up could devolve into major turmoil in the fall, with Ankara’s dubious management of the coronavirus pandemic feeding the unease. Turkey
