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
Netanyahu builds next electoral platform on new podcast With a new podcast and headquarters and renewed enthusiasm, opposition head Benjamin Netanyahu is already campaigning for the next election. Israel
Analysis Turkey ‘highly vulnerable’ to liquidity pinch, says leading credit agency Turkey, Tunisia and other countries in the Middle East could face liquidity challenges amid rising interest rates worldwide. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
UAE bans exports of India-sourced wheat, restricts others The Ministry of Economy said the decision was motivated by global supply chain disruptions as well as the recent trade agreement between the UAE and India. Legacy: Gulf
Israeli energy minister inks deal to export gas to Europe via Egypt Energy Minister Karine Elharrar hailed the signature this morning of a trilateral memorandum of understanding between Israel, Egypt and the European Union on the export of natural gas as a historic event. Israel
Iran's labor minister resigns as economic protests grow The first high-profile resignation in President Ebrahim Raisi's government comes as he scrambles to soothe public fury over unprecedented rising living costs. Iran
Maritime dispute with Lebanon threatens Israeli natural gas drilling Israel hopes that a solution can be found to the maritime border dispute with Lebanon so Energean can start drilling in the Karish field in the third quarter of 2022. Israel
Egypt to invest in gold, mineral mining Egypt is working to increase the exploration of gold and minerals in the Eastern Desert with the aim of attracting investments in the mining sector. Egypt
Egypt looks to India for wheat to make up losses from Ukraine war A potential deal between Egypt and India to import 500,000 tons of Indian wheat in exchange for Egyptian fertilizers is in the works amid ongoing global wheat shortages. Egypt
African Union chief says Israel has role to play in Africa Participating at the OECD Africa Forum, African Union Chief and President of Senegal Macky Sall acknowledged Israel’s engagement in Africa, especially on the backdrop of the crisis generated by the Ukraine war. Israel
After IAEA criticizes Iran, Israeli prime minister meets with Emirati leader Prime Minister Naftali Bennett made a quick visit to the Emirates, where he met privately with Emirati President Sheikh Mohammed bin Zayed. Israel
Liberia, Suriname pledge to open offices in Jerusalem The announcements come as Israel seeks to reinforce and expand its relationships in Africa. Israel
Retirees join Iran protests over economic grievances The rallies were sparked by unprecedented rising prices across the food sector under President Ebrahim Raisi's economic policies. Iran
