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
Jordanian officer killed as protests over fuel prices spread The killing of the officer comes after governmental measures failed to stop a strike staged by lorry and public transport drivers in different Jordanian regions following the protesters’ insistence on a reduction in fuel prices Jordan
World Bank says debt increasing in Middle East countries Egypt, Iran and Turkey’s debt rose significantly last year. Legacy: Gulf
UAE's Ports Group expands footprint in Sudan The agreement allows the Abu Dhabi-based logistics giant to operate ports in Sudan and will contribute to the UAE’s growing influence on the African continent. Legacy: Gulf
Egypt’s trade with Nile Basin countries jumps amid Ethiopia dam crisis Cairo’s exports and imports with the region increased substantially in 2021, but they still represent a small portion of the total and growth remains uneven. Egypt
Biden rebooting relations with Africa at summit, ahead of 2023 visit Countries in the region have received little attention from US officials in the run-up to the meeting, as Washington neglected the continent and is lagging in its influence compared to Russia and China. Egypt
Drug shortage adds to Tunisia’s woes In light of the successive crises facing Tunisians, pharmacies across the country are suffering drug shortages, which the authorities are unable to resolve. North Africa
Analysis Africa seeks GCC-like economic trust at US summit Since the United States' last summit of its kind in 2014, US foreign direct investment (FDI) in Africa dropped from $69 billion to $44.81 billion in 2021. By Salim A. Essaid
UAE-Ukraine trade deal would shore up Middle East food security The goal is to ultimately secure "all aspects of the international food production supply chain." Legacy: Gulf
Lebanese expatriates face high passport fees Many Lebanese expatriates abroad complain about the high fees of renewing passports. Lebanon
Culture Egyptian cafes see higher revenues during World Cup The World Cup in Qatar has boosted revenues of Egyptian cafes, as many supporters flock there to watch the games, due to the increasing subscription of beIN Sports channel. Egypt
Egypt embarks on new plans to develop river transport on Nile River Cairo has recently passed legal reforms to reorganize the river sector, which still remains marginal, in hopes this will catalyze much-needed private investments Egypt
Some Egyptian companies still dealing with Russia's alternative financial system Some Egyptian companies are secretly dealing with a Russian alternative financial system, in anticipation of international sanctions by the United States. Egypt
