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
Culture Economic meltdown in Lebanon leaves schoolchildren hungry Lebanon's struggling households are finding it increasingly challenging to afford school lunches for their children due to financial constraints. Lebanon
Egypt’s Banque Misr receives loan from African Development Bank, China The loan could help Egyptian startups and comes amid Egypt’s ongoing economic crisis. Egypt
Will Iraq's new government reconsider dinar exchange rate? A number of leaders of the Coordination Framework, the bloc leading the new Iraqi government, are pushing to increase the value of the dinar in an attempt to support the poor — yet some argue the measure could backfire. Iraq
Netanyahu’s right-wing coalition could upend Israeli democracy Incoming Prime Minister Benjamin Netanyahu made a dangerous deal with far-right and religious radical partners who are sure to undercut Israeli's democratic institutions. Israel
Gulf banks raise interest rates in response to the Fed, Kuwait stays put Saudi Arabia could be in store for a liquidity crunch, according to a leading credit rating agency. Kuwait has a history of not following the trend on interest rates. Legacy: Gulf
Saudi Arabia offers green bonds in push toward net zero While the move signals that the kingdom understands the global trends toward "green," its impact on climate action will require further steps. Legacy: Gulf
Can floating Egyptian pound kill foreign currency black market? Egypt's latest flotation of its currency may rein in its thriving foreign currency black market, but economists cannot see an end to this market in the near future. Egypt
Informal ties grow between Israel, Saudi Arabia With the current rift between Washington and Riyadh, every baby step in informal relations between Israel and Saudi Arabia counts. Israel
Middle East countries must do more to recover, say IMF event panelists While oil producing countries are projected to benefit from a windfall due to high energy prices, for others the coming years "will be more challenging than ever." Legacy: Gulf
Lebanon’s Vinifest returns as local wineries face uncertain future The Middle East’s biggest wine industry showcase returns for its 13th edition with its first full physical event in three years, amid Lebanon's harsh economic conditions. Lebanon
Residents in Israel warn against wave of server farm construction With Google and Amazon winning the tender for a Cloud region in Israel, more data centers will be coming, but some residents have concerns about the environment and quality of life. Israel
Arab Israelis boycott Zara over ties with Jewish ultranationalist The street-initiated boycott against Zara shops in Israel demonstrates the force of the young Israeli Arab generation, seeking to bring about a change through social media. Israel
