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
Emirati and Turkish businesspeople discuss bilateral trade, investment The meeting between the Abu Dhabi Chamber of Commerce and Turkey’s ULUSKON business federation occurred in the context of rapprochement between the United Arab Emirates and Turkey. Turkey
Lebanese turn to cryptocurrency as economy tanks Lebanon is bursting with crypto mining shops, traders and online mentors to fulfill the surging demand from people desperately looking to gain financial freedom and much-needed US dollars. Lebanon
Egypt raises interest rates for first time since 2017 Inflation and bread prices have risen significantly in Egypt recently, and Saudi Arabia and Qatar have also raised their rates. Egypt
Jihadi group raises prices in Syria’s Idlib as war rages in Ukraine While some believe the Russian war on Ukraine has upped prices in northwest Syria, others accuse Hayat Tahrir al-Sham of exploiting the crisis to make gains. Syria
Israel implements some but not all sanctions against Russian oligarchs Israel’s leadership said that the country will not enable Russian oligarchs to bypass Western sanctions, but at the same time it did not commit clearly to adopt all the sanctions. Israel
Saudi GDP grew 3.2% in 2021, highest in seven years Saudi economic progress includes growth in the non-oil sector, as foreign direct investment moves more slowly. Saudi Arabia
Israel unhappy over unregulated cryptocurrency trade Israeli authorities are demanding the international crypto stock-exchange Binance to explain unregulated digital currency trade in the country. Israel
Saudi-US business forum to focus on defense, artificial intelligence Saudi Arabia is looking to diversify its economy, but some in the United States want less cooperation with the Gulf state due to human rights concerns. By AL-MONITOR Staff
Egypt charts middle diplomatic course in Ukraine war Cairo voted in favor of the US-backed UN resolution condemning the Russian invasion, but is not shutting down ties with Moscow. Egypt
Israeli President set for first official visit to Turkey in 15 years Israeli President Isaac Herzog visits Ankara on March 9. Israel
Ukraine calls on Egypt to support it, abandon neutrality Ruslan Nechai, charge d'affairs of Kyiv's embassy in Cairo, calls on Egypt and countries in the region to support it with weapons, fuel and financial and humanitarian aid, and abandon the position of "neutrality" regarding the Russian invasion. Egypt
How Ukraine crisis undermines Turkey's economic program Ankara’s economic program has hit a deadlock under the impact of Russia’s invasion of Ukraine, marked by a stream of fuel hikes, canceled tourism bookings and textile orders, and shortage fears in the food sector. Turkey
