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
Fitch gives Egypt ‘stable’ debt rating, citing reforms Egypt is pursuing deregulation and tax reforms to some success, but the war in Ukraine has severely hurt the country’s economy. Egypt
Saudi Arabia sends $50 million to Jordan for budget as economy falters The Jordanian government is working to close tax loopholes and increase its revenue collection amid its economic struggle. Jordan
Tel Aviv Stock Exchange continues to reach historic highs The TA 125 index’s growth is being led by banks and not Israel’s large tech sector. Israel
Israeli innovations in medical tech embraced worldwide In Europe, the US, Africa, and now also in Gulf states, hospitals and healthcare systems are adopting Israeli med-tech companies' new products. Israel
Egypt hopes Israeli tourists will make up losses from Ukraine war At a time when Egypt’s tourism sector has suffered a setback due to the war in Ukraine, the first direct flight from Israel is set to land in Sharm el-Sheikh this month, which may boost the number of Israeli tourists in the Egyptian coastal resorts in the Sinai Peninsula. Egypt
Free trade agreement opens new horizons for Israel, UAE The economy and trade ministers of Israel and the United Arab Emirates concluded last week negotiations on a ground-breaking agreement for a free trade zone, the first of its kind Israel has ever reached with an Arab country. Israel
Israel's tech future lies with Arab entrepreneurs An increasing number of Israeli Arabs are taking the bold step of launching their own startup companies. Israel
Saudi Aramco pursues diversification with artificial intelligence center The Saudi energy giant is flush with cash from oil sales abroad. Saudi Arabia
Analysis The Takeaway: Trump's revenge as Biden deal with Iran stymied by IRGC sanctions Russia backs Syrian attacks on opposition; Turkish inflation soars as result of Ukraine war; Iran-linked mob attacks Kurdish party offices in Iraq; new generation runs for election in Lebanon; Egypt rallies Africa climate consensus. By Andrew Parasiliti , Elizabeth Hagedorn
New Tunisian law targets those spreading 'fake news' about food shortages Tunisia’s president says he is waging a war on speculators hoarding food, but his new decree-law also includes an article that forbids the spreading of “false news and information” about food shortages and the supply chain. North Africa
Dubai partnering with Singapore to improve public transportation Dubai and Abu Dhabi are also working to make their public transit systems more environmentally friendly, though oil is still a major part of the Emirati economy. United Arab Emirates
