Economy and trade

Egypt to supply Sudan with electricity

Egypt announced the completion of a substation in the south of the country that will export electricity to Sudan in exchange for goods.

Egypt

Saudi investment fund hires US PR firm to create distance from crown prince

New York-based Karv Communications will be paid $120,000 a month to “create a clear distinction” between the $200 billion fund and its embattled chairman.

Saudi Arabia

Why artists are speaking up against ‘dirty money’ in Iranian cinema

The increasing emergence of “dirty money” in Iranian cinema has sparked an outcry among artists, producers and directors, who are urging action to stop the phenomenon from ruining the industry.

Iran

As Iran mulls joining financial watchdog, Israel sees win-win situation

If Iran joins the FATF anti-money laundering organization, the Islamic Republic might find it harder to fund militant organizations in the region, but if Iran does not join, it may lose what few international banking connections it already has.

Israel

Can Saudi Arabia afford a stimulus?

Oil-revenue-dependent Saudi Arabia still has $490 billion in reserve assets, but its massive foreign and domestic commitments and a long-term declining demand curve for oil could spell trouble down the road.

Saudi Arabia

Turks fire back as Trump ends preferential trade status

The United States removed Turkey from its list of countries that enjoy tariff-free access to the US market, a decision criticized by the Turkish government.

Turkey

Exodus by big firms pushes Iran toward smaller Chinese enterprises

To mitigate the impact of harsh US sanctions, Iran is increasingly turning to China by dispatching high-ranking delegations to Beijing to augment trade. But China is also mindful not to cross the red lines drawn by the United States.

United States

Egypt finds its nationals new job markets abroad

The difficult economic conditions and nationalization of jobs in Gulf states have caused a problem for Egyptians willing to work overseas, and prompted thousands to return home.

Legacy: Gulf

Is Erdogan's airport dream turning into nightmare?

The Istanbul New Airport's current and projected damage to ecosystems, its subpar construction and its woeful financial setup is turning the project into a grandiose failure — one that will cost the Turkish public dearly for decades to come.

Turkey

Russian Industrial Zone in Suez to be launched soon

The construction of the Russian Industrial Zone in the new Suez Canal Economic zone is expected to begin soon, in a project that Egypt hopes will boost its economy.

Egypt

Egypt’s unemployment rate declines to pre-revolution levels amid economic recovery

Although the Egyptian government is initiating programs to encourage work in the private sector, some graduates still see unemployment as a threat to young people.

Egypt

Iran’s top banks launch blockchain platform to boost ailing banking system

Banking giants in Iran have established a digital tokenization platform to liquidize bad assets. If it can overcome the many challenges on the way, it could generate vital cash — and public trust.

Iran