US stock markets soar to new records amid Hormuz deal hopes The S&P 500, Nasdaq Composite and Dow Jones Industrial Average are on track for their best five-day performance since April 2025. Iran
Explainer Iran-Oman Hormuz route talks near 'completion': What to know The new framework would give Iran a greater role in managing one of the world’s most strategically important maritime choke points. Oman
Lebanon’s Riad Salameh hospitalized as arrest roils Beirut: What to know Lebanon's former Central Bank governor, Riad Salameh, was taken from prison to a hospital over his deteriorating health. Lebanon
Saudi Arabia's economy shrinks by 4.8% amid Iran war: What to know The kingdom saw a 24.7% year-on-year decline in its oil sector for the April 1 to June 30 period due to the closure of the Strait of Hormuz. Saudi Arabia
Explainer Saudi airlines outbuy Gulf rivals at Farnborough air show: What to know United Arab Emirates
After 20 years, is Iraq making progress in bid to join WTO? Iraq first applied to join the WTO in 2004, but it made no considerable progress in the accession until its recent efforts to unify tariff and customs regulations between the federal and Kurdistan Region governments. Iraq
Turkey has lost export competitiveness, won't meet annual goal: Official Turkish Exporters Assembly Chairman Mustafa Gultepe said that Turkish exports would likely be between $264-267 billion for 2024. Turkey
China's BYD, world's biggest EV maker, invests $1B in Turkish plant In a post on the social media platform X on Monday, Turkey’s Vice President Cevdet Yilmaz confirmed that BYD is expected to begin production of vehicles in the new factory at the end of 2026 and that the facility will provide around 5,000 direct jobs. Turkey
Middle East startups see funding fall by 34% in first half of 2024 Although startup funding levels have plateaued globally, MENA reported an increase in early-stage rounds and investor participation. United Arab Emirates
Egypt’s remittances reach $2.7 billion in boost to foreign reserves Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues. Egypt
What’s behind Saudi Public Investment Fund’s $17.2B profit? The sovereign wealth fund’s turnaround following the loss in 2022 is due in large part to the stock market rebounding. Saudi Arabia
Trump Tower deal announced in Jeddah as Saudi business ties grow The Trump Organization recently unveiled a development in Oman, while Trump’s golf course is again hosting the Saudi-backed LIV Golf this year. Saudi Arabia
In win for Simsek, Turkey removed from FATF money laundering watch list Turkey was added to the Financial Action Task Force's watch list in 2021 amid concerns of money laundering and terrorism financing. Turkey
Interview G42-Microsoft partnership in Kenya 'just the beginning,' says UAE trade minister In an exclusive interview with Al-Monitor, Dr. Thani Ahmed Al Zeyoudi discusses momentum in UAE trade with the US, the benefits of economic diversification and Africa’s priority in UAE trade policy. Dr. Thani Ahmed Al Zeyoudi UAE Minister of State for Foreign Trade
Egypt looks set to secure $1.1B EU loan to boost economic recovery The latest injection is part of a larger two-proposal package from the 27-state bloc to help the North African country's struggling economy. Egypt
Analysis Is Abu Dhabi Global Market poised to rival world’s leading financial hubs? The Abu Dhabi Global Market, an international free zone in the heart of the UAE capital, is attracting global companies and investors as it looks to become one of the world's leading financial hubs. By Vanessa Ghanem In Dubai, reporting on business, energy and politics
Dubai, Tel Aviv most expensive for expats in MidEast as Tunis, Ankara rank least Tunis, Algiers and Ankara have a relatively low cost of living for international workers, according to a survey by the consulting firm Mercer. United Arab Emirates
