Oil falls below $80 as markets rally on Iran-US peace deal: What to know Brent crude futures, the international benchmark for oil prices, fell around 3.15% to $79.99 as of 6:55 a.m. EDT on Monday. Iran
Analysis Gulf aluminum pursues global deals as Hormuz crisis accelerates shift Gulf aluminum exporters are targeting global deals amid fallout from the US-Israel-Iran war, which has pushed prices to multiyear highs in early June. By Samuel Wendel In Washington, DC, reporting on regional business and tech
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
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 pushes Iraq to maintain trade without US dollar Iran is pushing for an agreement with the Iraqi Central Bank to maintain trade in local currencies after dollar-base trade halted following the reimposition of US sanctions. Iraq
Gaza’s public servants outraged at Hamas’ recent spending Recent documents were leaked to the media showing that Hamas spent more than $550,000 for the celebrations of its anniversary, which raised the ire of Gaza government employees who have not received their full salaries since 2013. Palestine
Gaza traders face new taxes, import restrictions In a bid to protect national products, Hamas’ Ministry of National Economy in Gaza imposed new taxes on imported goods and banned traders from importing any goods without its consent. Palestine
Israeli factory to be established in Gaza, is this possible? Israel’s SodaStream announced it will open a manufacturing plant in the Gaza Strip, raising eyebrows since the company was forced to close a factory it previously operated in the West Bank under pressure from the boycott, divestment and sanctions movement. Palestine
Iran consumer prices remain stubbornly high despite rial recovery Despite the Iranian national currency's comeback, consumer prices have yet to see commensurate drops due to price rigidity and uncertainty over the country's economic future. Iran
Egypt to take charge of Tanzania dam construction Egypt and Tanzania recently signed a contract allowing Egyptian companies to build a hydroelectric dam in the African country, which experts say will help boost Egypt’s economy. Egypt
Egypt preparing for stage 3 of Victoria-Mediterranean project The first phase of feasibility studies for the Victoria-Mediterranean Waterway Project will soon conclude, but funding for the next phase is still to be determined. Egypt
Egypt taps Asian markets for agricultural export growth Egypt signed a series of agreements to export its agricultural products to Asia, including China and Japan, in a bid to boost its ailing economy. Egypt
How will Egypt integrate its shadow economy in its official one? A study shows that Egypt’s shadow economy amounts to about $400 billion a year, prompting the government to merge it with its official economy through a series of new laws. Egypt
Turkey’s recession becomes official The shrinking Turkish economy needs external funds to start growing again, but luring foreign investors back is a tall task that Turkey is unlikely to accomplish in the short run. Turkey
Iran, Russia-led bloc move toward free trade The Iranian government is widening channels of trade with Eurasia and India in an effort to dodge the impacts of reimposed US sanctions. Russia
Why the Rouhani administration must eliminate energy subsidies Despite pressure from lawmakers and the general public, the Rouhani administration must proceed with fuel-subsidy reform in order to relieve itself of avoidable financial burdens. Iran
