US Senate approves repeal of Caesar Act sanctions on Syria: What to know The 2019 Caesar Act imposed sweeping sanctions on Syria to hold the government accountable for human rights abuses committed during the country’s civil war. Syria
Saudi investment minister visits Morocco, Senegal on Africa trade drive Saudi Arabia has pledged more than $41 billion in investment in sub-Saharan Africa over the next decade. Saudi Arabia
Iran, Russia, Central Asia states ink Caspian Sea pact, plan naval drills The navies of Iran, Russia, Azerbaijan and Kazakhstan signed a comprehensive strategic cooperation agreement on Wednesday, aimed at strengthening security in the Caspian Sea basin as the four countries deepen their relations. Iran
World Bank ups Middle East 2025 economic outlook as oil, tourism rebound The lender expects gross domestic product growth in the region to average 2.8% this year, up from its April forecast of 2.6%. Iran
Lebanon to shift to new official lira-to-dollar exchange rate Lebanon is shifting to a new official exchange rate to the US dollar, three years after an unprecedented financial and economic crisis that has plunged a large portion of its population under the poverty line. Lebanon
UAE, Tanzania sign double tax avoidance deal The Emirates is also pursuing renewable energy projects in the southern African country. Legacy: Gulf
UAE, Oman boost ties with deals on high-speed rail, combating financial crimes The agreements are in line with the UAE’s foreign policy, which prioritizes regional partnerships. United Arab Emirates
Saudi Arabia partners with Senegal on railway, desalination plant The UAE, Israel and Turkey have also upped their engagement with African states in recent years. Saudi Arabia
Egyptian households turn to credit as inflation bites In the past, locals used to buy only durables in installments. Today, breadwinners buy clothes, schoolbooks, stationery and groceries on credit. Egypt
Lebanese depositors irate over closed banks Banks in Lebanon have been shut down for nearly a week amid fears of a bank run. Lebanon
Palestinian economy falters despite pandemic recovery Despite the end of the coronavirus pandemic, an improvement in the Palestinian economy does not seem very likely given other factors. Palestine
Despite slowdown, Israeli tech companies attract major investments Big investments announced in recent weeks in Israeli start-up companies might indicate that the slowdown, the layoffs and other difficulties facing the global high-tech industry might be temporary. Israel
Palestinian businessman seeks self-funded projects to support Gaza economy An agreement of $1 million was signed to restore industrial facilities that were destroyed in the May 2021 war on Gaza, which came as a glimmer of hope for the stricken industrial city. Palestine
Lebanese fear more hardships after fuel subsidies are lifted The Lebanese are expecting higher gasoline prices in light of the central bank’s decision to lift subsidies amid market chaos, dollar exchange fluctuations and devaluation of salaries in the Lebanese pound. Lebanon
Egyptian pound continues to lose value Economists expect Egypt's central bank to loosen its grip on the exchange rate of the Egyptian pound in its meeting later this month, but the possible move is fraught with fears from a sharp rise in commodity prices. Egypt
Culture Lebanese turn to logging in preparation for winter Lebanon’s woodlands are at risk as the poor are cutting down trees as an alternative for fuel to heat their homes in the coming winter, and with such desperate measures experts fear the loss of precious and old trees. Lebanon
