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
Russia, Turkey seek greater engagement amid US sanctions Russia plans to lift visa requirements for some Turks and to begin delivery of the S-400 missile-defense system to Turkey next year in an attempt to further sway Ankara away from the United States. Turkey
New group forming to alleviate poverty in Palestinian territories As part of the Palestinian Authority's efforts to end poverty, the Islamic Development Bank has set up an investment fund allowing the new Palestinian People’s Economic Empowerment Institution to have its own budget. Palestine
Sanctions, profiteering put Iranian newspapers in a bind A paper crisis exacerbated by US sanctions is weighing down Iranian daily newspapers, which are resorting to everything from closures to online paywalls. Iran
US sanctions put nearly half a million jobs at risk in Iran’s auto parts industry Auto parts suppliers in Iran warn that US sanctions coupled with domestic mismanagement are bringing their industry to its knees. Iran
Who is at the sharp end of Turkey’s currency crisis? After years of bold borrowing from abroad, Turkish conglomerates, including government cronies, are sitting on a powder keg as the country’s currency turmoil keeps augmenting their debt repayment woes. Turkey
Is there hope for reforming Libya’s shattered economy? In an interview with Al-Monitor, Libyan Economy and Industry Minister Nasser al-Dersi talks about the Government of National Accord’s new economic reform program and the challenges it faces. Libya
Saudi Arabia’s diplomacy has costs Saudi Arabia's diplomatic decisions since King Salman took over the rule of the kingdom in 2015 have caused much controversy, with the bombing of a school bus in Yemen and the row with Canada over a tweet as recent examples. Saudi Arabia
The interest group economics wreaking havoc on Iran's currency Absent tackling such root issues as banking and financial sector reform, Iran’s political economy is likely to continue to shape government policy to the detriment of the economy and the society as a whole. Iran
Mainstream Turkish media turn blind eye to country’s worst currency crisis Although Turkey is suffering one of the worst currency crises in its history, no single mainstream Turkish media outlet has covered the development. Turkey
Turkey steps up efforts to shun dollar As the Turkish lira plunges to a record low, some voices in Ankara are warning that the United States is furious over Turkey’s efforts to reduce its dependency on the dollar. Turkey
Turkey’s economy struggles with new political reality Turkey’s economic downturn has only grown worse since President Recep Tayyip Erdogan assumed sweeping new powers after the June polls, as some observers fear that the economy might not be Ankara’s primary concern. Turkey
China set to fill vacuum left by French carmakers exiting Iran The exit of French automakers from Iran is leaving a vacuum that appears set to be filled by Chinese auto manufacturers. Iran
