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
Erdogan vs. Kilicdaroglu: What to expect in Turkey's first ever election runoff Though polls give a lead to the incumbent president, a victory by the main opposition leader in Sunday’s presidential runoff seems still possible depending on a combination of challenging factors. Turkey
Analysis What's behind Saudi Arabia’s decision to restore ties with Canada? Saudi Arabia recalled its ambassador in 2018 following Canada’s criticism of women’s rights activists in the Gulf country. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
Al-Monitor/Premise Turkey poll: Erdogan, Kilicdaroglu statistically tied in election runoff The poll found the economy, refugees and justice stand out as the top three issues that the country faces, with 71% of respondents favoring an imminent return of refugees in the country. Turkey
Qatar Airways struggles to rebound in China with post-COVID labor shortages CEO Akbar Al Baker said that his airline was seeing a huge demand for travel post-pandemic but a “massive shortage” of capacity due to supply chain issues. Qatar
Qatar rolls out $275M market program in latest foreign investment push The Qatar Investment Authority is setting up a market-making initiative to draw in more foreign investor interest and build up its capital markets. Qatar
Double trouble: Lebanon’s Salameh gets second arrest warrant from Germany Riad Salameh is under increased scrutiny in Europe on suspicions of money laundering at a time Lebanon is grappling with a deteriorating financial and economic crisis. Lebanon
Turkey Elections: Currency fears grow ahead of presidential runoff Turkey’s foreign exchange crunch has become so grave that the authorities would even go for limiting cash withdrawals from credit cards to keep the Turkish lira from plunging. Turkey
How much trouble is Lebanon's Riad Salameh in after Interpol's red notice? Days earlier, the French judiciary issued an international arrest warrant for Riad Salameh after he failed to show up at a hearing in Paris over his alleged involvement in an embezzlement case. Lebanon
Germany, Italy hold talks with Saudi Arabia, Qatar to strengthen energy ties Italy is looking for capital from Saudi Arabia's Public Investment Fund for a new fund Rome is setting up to help domestic companies in strategically important sectors. Saudi Arabia
Analysis How a prolonged war in Sudan could threaten global fizzy drink supply Sudan is the world's leading supplier of gum arabic, an essential ingredient in fizzy drinks that acts as an emulsifying and separating agent. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Iran, Russia ink $1.6 billion rail deal to rival Suez Canal Iran and Russia agreed to build a railway between two Iranian cities as they continue to develop their trade relations despite US sanctions. Iran
