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
Egypt, Israel expand economic ties Cairo and Tel Aviv strengthen trade and economic cooperation and increase their export capacity under the protocol of the Qualified Industrial Zone. Egypt
Japan to help struggling Palestinian tourism industry A Japanese nonprofit is also supporting a female-run dairy farm in the Gaza Strip. Palestine
Tunisia's future darkens with dissolution of parliament Tunisia's president has taken a darker turn after unilaterally dissolving parliament and threatening to put elected deputies on trial. North Africa
Israel takes global lead in fintech Effects of the war in Ukraine set aside, the Israeli fintech sector is expected to continue growing this year and attract more global investments. Israel
Egypt cotton exports record high revenues despite Russia-Ukraine war Despite the Russian war on Ukraine and its negative repercussions on global trade, Egypt succeeded in exporting 50,000 tons, or up to 75%, of its cotton production this season. Egypt
Egypt turns to Suez Canal to boost revenues The waterway’s authority has announced significant increases in transit tolls in recent weeks that are expected to bring in much-needed additional resources to help Cairo navigate its economic challenges. Egypt
Turkey-Colombia trade doubles in 2021 Turkey has also sought good relations with Venezuela in South America. Turkey
Gaza’s poor, reconstruction projects victims of Russia-Ukraine war The Russia war on Ukraine took a toll on the Gaza Strip, where the vulnerable population is facing increasing hardships in securing basic necessities as a result of soaring prices, in addition to halting construction projects due to high prices of building materials. Palestine
Israeli business leaders expect surge in trade with Morocco Morocco hopes to replicate, and even exceed, Israel-UAE business ties. Israel
Oman's fiscal outlook improves as oil prices surge Efforts to put public finances on a healthy footing and tackle chronic budget deficits have started to pay off, facilitated by a sharp increase in oil prices, Oman’s main export. Legacy: Gulf
Egypt seeks to contain price hikes caused by Ukraine crisis Egypt is dealing with soaring prices of bread and food products. Egypt
Israel, UAE to cooperate on clean hydroelectricity Israeli companies are eager to cooperate with Emirati partners for the development of clean, cheap and low-energy hydrogen production. Israel
