Economy and trade

Iran plans revamp of national currency

The Iranian Cabinet has approved a bill to remove four zeros from the national currency, the rial, and rename it the toman, but economists are divided over the potential impact.

Iran

Why Netanyahu downplays historic trade agreement with South Korea

Israel’s most nationalist government ever pledges to annex the occupied territories, and then approves a historic trade pact with South Korea that boycotts the settlements.

Palestine

Russia ready to fund Palestinian industrial zone

Palestinian Prime Minister Mohammad Shtayyeh discussed with the Russian ambassador the possibility of establishing an industrial zone in Nablus in light of Palestine’s ongoing efforts to promote its local economy and disengage from Israel.

Palestine

Labor proposes taking Israel back to social-democrat economy

According to the economic pre-election agenda presented by Labor head Amir Peretz, the party wants to increase Israel's external debt in order to pay for social projects.

Israel

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

Fire, redevelopment controversy engulf 127-year-old Cairo market

An Egyptian presidential decision to vacate and restore the Ataba market stirs traders’ fears of the government's desire to control the largest market in Cairo and turn it into an investment zone.

Egypt

Why farmers reject Egypt’s new cotton trade strategy

The Egyptian government has announced a new trading system for cotton, which would be sold through public bidding, raising the ire of farmers who already suffer from severe losses.

Egypt

Yemen’s farmers brace for slow pomegranate season

Harvest season for pomegranates has kicked off in Saada amid fears of how a Saudi ban on importing the fruit will affect farmers, exporters and markets.

Saudi Arabia

Israel’s economy victim of election campaign

Israeli politicians prefer to ignore the implications of two election campaigns in one year on the market and the state deficit, which could harm the country’s credit rating.

Israel

UAE diversification strategy lags despite growth in oil sector

The United Arab Emirates is struggling somewhat with its economic diversification project as oil prices remain relatively low.

Legacy: Gulf

Egypt flips its wig over cost of imported cosmetics

Economists say Egypt's trade balance needs to be reduced, and some see one way of doing this by reducing imports of cosmetics and wigs.

Egypt

Why attempts to reform budget structure might hit a dead end in Iran

While Iran's Planning and Budget Organization has ambitious plans for resolving the country's budgetary problems, upcoming elections, a lack of relevant data and other issues are blocking the path to these goals.

Iran