Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Erdogan aide named suspect in Turkey financial scandal Former AKP deputy chairwoman Fatma Betul Sayan Kaya is facing allegations of being linked to a market manipulation scandal. Turkey
UAE-Syria move ahead on $20 billion real estate mega-developments Major housing and tourism projects in Damascus and Latakia are set to advance following a new agreement with UAE real estate tycoon Mohamed Alabbar. Syria
Iran’s economy deteriorates, oil minister resigns, workers protest: What to know Iran’s oil minister has resigned amid mounting economic pressure from US sanctions and restrictions on the country’s exports. Iran
Analysis Turkey’s $20B fund crisis: Who profited, and who will pay? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
What’s behind flurry of Saudi helicopter deals with Airbus, Leonardo? The Saudi sovereign fund’s helicopter firm inked several agreements during a helicopter expo in this week, choosing to partner with Airbus amid concerns about Boeing. Legacy: Gulf
Analysis Can France restore Morocco ties without shifting on Western Sahara? On a visit to Rabat, French Foreign minister Stephane Sejourne acknowledged for the first time the importance of the Western Sahara issue for Moroccan diplomacy, but did not commit to any movement by Paris on the issue. By Rina Bassist In Paris, reporting on Israeli politics and European affairs
Saudi PIF-owned company, tourism fund partner on new downtown for Riyadh Saudi Arabia’s Public Investment Fund is working with the kingdom’s Tourism Development Fund to create "the world’s largest downtown" in the capital. Saudi Arabia
Qatar to pump nearly $11B into French start-ups, funds until 2030 The new investments will target key areas, including the aerospace, energy, semiconductor, artificial intelligence, digital, health, hospitality and cultural sectors. Qatar
Oman jumps 39 places on 2024 Economic Freedom Index, UAE ranks 22 Oman's economic reforms are paying dividends, according to the latest Heritage Foundation index on economic freedom. Legacy: Gulf
Qatari emir in France to discuss Gaza war, economic deals — and talk Mbappe Qatari Emir Sheikh Tamim bin Hamad Al Thani has a wide-ranging agenda on his first state visit to Paris. Qatar
Qatar’s first VC fund of $1B expected to 'fuel startup ecosystem in region' The program has two objectives: to generate market-level commercial returns for Qataris and to develop a “vibrant VC and startup ecosystem” in line with the country's national development strategy. Qatar
Israel’s military exports to India booming, 'unaffected' by war in Gaza Israel has been one of the top military exporters to India over the past decade. Israel
Egypt, UAE sign $35 billion development deal amid foreign currency crunch The deal could help Egypt’s struggling economy and builds on previous Emirati investment in the North African country. Egypt
Turkey’s Fidan set to visit Venezuela and meet Maduro The Turkish foreign minister is set to make his inaugural visits to Venezuela and Mexico in his capacity as his country’s top diplomat. Turkey
UAE dropped from global watchdog’s illicit finance list in quick turnaround The Gulf country was added to the Financial Action Task Force's grey list in March 2022. United Arab Emirates
UAE, Kenya conclude trade deal talks as Abu Dhabi expands influence in Africa The United Arab Emirates has established economic partnership agreements with 10 countries as it seeks to diversify its oil-based economy. Legacy: Gulf
