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
UAE, Oman call for bids on $3 billion transnational railway project The move aims to expand the role of the private sector in the state-owned project and promote regional integration, with the project connecting Oman’s Sohar Port with the UAE's National Rail Network. Legacy: Gulf
Kuwait’s Agility awarded $1.65 billion in dispute with Iraq's Korek The Kuwaiti logistics firm accused Korek, which is owned by Kurdish military commander Sirwan Barzani, of using corruption to expropriate its stake. Legacy: Gulf
Gulf asks India to increase flights as GCC, Indian officials meet in Saudi Emirates, Jazeera and Turkish Airlines want India to allow more flights, but Indian authorities told Reuters they have no plans to do so. Legacy: Gulf
Pharmacies in Lebanon shut, as bankrupt government plans airport expansion Gas stations are also threatening to close as long as authorities continue to ignore the economic collapse, while protests resumed on Tuesday. Lebanon
Analysis Jordan economic rating shows upswing, but problems remain Jordanians in the private sector are praising their government's ambitious economic strategies, but still see systemic inefficiencies as a barrier to making them a reality. By Salim A. Essaid
Qatar's Manchester United takeover could monetize new Mideast fan base A Qatari takeover of the English soccer club would “turbocharge” the global presence of the English Premier League, analysts told Al-Monitor Legacy: Gulf
Qatar loses 'World’s Best Airport' to Singapore, Turkey's Istanbul climbs to 6 Most Gulf Cooperation Council city airports went up in rank from last year's SKYTRAX’s World Airport Awards. Legacy: Gulf
Egypt signs $1.6 billion deals with China, EU companies to develop sea ports The Egyptian government wants its Red Sea and Mediterranean ports to help boost the economy amid rising inflation and declining foreign currency reserves. Egypt
Top Iran official meets UAE's Mohammed bin Zayed after Saudi thaw On his trip to Abu Dhabi, Iran's Ali Shamkhani spoke of "constructive" engagement as Tehran is exhausting all channels to push back on its growing isolation. Iran
UAE’s G42 buys $100 million share in China's ByteDance, parent of TikTok ByteDance, the parent company of TikTok, has seen its value fluctuate, predominantly due to investor uncertainty caused by a possible ban on TikTok in the United States. Legacy: Gulf
Biden administration budget would slash Tunisia’s economic aid The State Department’s latest budget calls for steep cuts to US economic aid to several countries in the Middle East while largely sustaining military aid. Tunisia
Saudi Arabia to buy 121 Boeing-787s in ‘historic’ $37 billion deal The agreements make up the fifth-largest commercial order by value in Boeing’s history and is valued at nearly $37 billion. Legacy: Gulf
