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
Saudi Arabia, Cyprus set up joint business council Cyprus has important relationships with several Middle Eastern states, including Egypt. Legacy: Gulf
Pakistan’s new premier looks to Turkey for political, economic boost Shahbaz Sharif, who needs international economic and political support to stabilize his coalition government, is busy making deals with Ankara. Turkey
With free trade agreement, Israel hopes to triple trade with Emirates Israel and the United Arab Emirates already established a large scope of bilateral trade, but officials and businesspeople on both sides are persuaded that this is only the beginning. Israel
Israelis begin doing deals in Saudi Arabia Following a change in Saudi Arabia’s entry requirements, dozens of Israeli businesspeople arrived recently to Riyadh and even closed deals there. Israel
Culture Lebanon’s economic crisis threatens education sector Lebanon’s education sector, once prized throughout the Middle East as a regional leader, has been witnessing an irreversible mass exodus with hundreds of professionals in the teaching sector leaving. Lebanon
Abraham Accords accelerate Israel-Africa rapprochement Israeli and African diplomats are engaged in expanding bilateral relations and taking them much further then ever before in many fields. Israel
Israel interest rates to continue upward trend Battling growing inflation, the Bank of Israel has significantly raised the country’s interest rates twice in recent weeks. Israel
Hamas imposes new taxes on products imported from West Bank Hamas' Ministry of Finance in the Gaza Strip is imposing a new tax on imported West Bank products, which will add to the hike in prices amid a devastated economy due to the Israeli siege and repeated Israeli wars. Palestine
NFTs get Egyptian women out of debtor's prison An organization that offers help to poor Egyptian women persecuted by the law has partnered with a creative collective in Dubai to raise donations and awareness, especially outside the country, using non-fungible tokens. Egypt
Israel-UAE economic relations grow further with free trade agreement A variety of economic, cultural and energy-related deals preceded the free trade agreement signed in Dubai today. Israel
Israeli companies offer solutions for global wheat crisis Israeli agritech companies are finding solutions for the growing global wheat crisis and others. Israel
How interest rate hikes affect Egypt’s economy The central bank may raise rates further by 100 to 200 basis points in 2022 to be in line with tightening global monetary policies. Yields on T-bills are set to rise. Egypt
