Suez Canal traffic soars as Hormuz disruptions reroute energy trade The canal generated $419 million in revenue in April, up 27% year over year. Egypt
Syria says Iraqi oil shipments surge as Damascus courts foreign energy investment Speaking at the Atlantic Council Global Energy Forum in Washington on Tuesday, Syrian Petroleum Company CEO Yousef Qiblawy said Iraq's overland oil exports through Syria have expanded rapidly in recent months. Syria
Explainer Saudi Arabia, Turkey advance plans to revive historic Hejaz Railway Turkish and Saudi officials signed agreements as part of a Turkish push to revive the Hejaz Railway linking Turkey to the Gulf through Syria, Jordan and Saudi Arabia. Turkey
Analysis Turkey pushes Iraq, Syria trade routes as Hormuz crisis disrupts Gulf shipping Turkey is using the Hormuz crisis to promote Iraq- and Syria-based Gulf-Europe corridors, but experts say the routes remain too costly, underbuilt and politically fragile to rival maritime shipping. By Barin Kayaoglu In Ankara, reporting on geopolitics and national security
Analysis Why Turkey sees opportunity in Hormuz crisis to boost Middle Corridor By Barin Kayaoglu In Ankara, reporting on geopolitics and national security
Turkish inflation nears 20% on rising food, energy costs While Turkey’s latest official inflation figures beat expectations, raising some concerns over data integrity, consumer prices are expected to keep rising amid growing global energy costs. Turkey
Iran’s plan to get rid of the subsidized exchange rate Iran's subsidized exchange rate has failed to prevent the downfall of the rial — and a move to do away with it could actually help the economy. Iran
World Bank approves loan to Egypt, praises government for growth during pandemic The loan accompanies various reforms, including actions to increase economic participation of women. News Brief
Mansour Abbas puts mark on Israeli development plan for Arab communities The coalition Ra’am party is proud of the approval by the government of a five-year plan for the economic development of Israeli Arab towns and villages. Israel
The Takeaway: Sudan’s fragile economic stability at risk after military takeover Saudi Arabia’s plan for “net-zero”; Turkey’s spy busts; Syria’s rebel factions; Egypt’s robot detention; fatwas on marital sex and bodybuilding; fishing for plastic in the Nile … all in about 1,500 words! Sudan
Protests break out in Syrian city controlled by jihadist faction Protests erupted in Idlib against the Syrian Salvation Government, affiliated with Hayat Tahrir al-Sham, amid high inflation and deteriorating living conditions. Syria
Greek foreign minister visits Oman Nikos Dendias will also head to Libya this week and recently participated in a summit with allies Cyprus and Egypt. News Brief
Israel announces 3,000 new Gaza work permits The additional work permits for Gazans follows several Israeli measures aimed at easing border restrictions. Israel
EU looks to boost Syrian businesses in Turkey Many Syrian refugees are working in Turkey without work permits, and the European Union is trying to support their small businesses. Syria
Tunisia’s political crisis forewarns economic collapse Economists are sounding the alarm about a possible economic collapse in Tunisia, urging for reforms to revive the economy that had been suffering since 2011 amid political instability. Tunisia
US to give $67 million to Lebanon’s military as violence erupts in Beirut The Lebanese army deployed in the streets of the capital after at least six people were shot dead during violent protests. Lebanon
Ankara looks other way as money flows to tax havens A Turkish law passed in 2006 to tackle money transfers to tax havens remains inapplicable on the ground due to Ankara’s failure to name the countries it considers as tax havens. Turkey
