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
Economic meltdown drives some Lebanese to collect recyclables for a living Lebanon’s increasing poverty and lack of jobs drive desperate people to live off of selling collected recycled materials in kilos to scrapyards, shops and manufacturers. Lebanon
US Treasury sanctions Hezbollah financial network in Lebanon A US Treasury official says the department is targeting Hezbollah's "misuse of the international financial system" to raise funds for terrorism. Lebanon
Putin, Raisi look to boost trade, regional cooperation in Moscow talks Ebrahim Raisi's trip to Moscow is unlikely to further elevate relations between the two countries. Russia
Crimean, Syrian ports sign cooperation agreements A Syrian government delegation visited the Russian-backed breakaway republic this week. News Brief
US sanctions Hezbollah's alleged financial facilitators in Lebanon The US Treasury Department designated Adel Diab, Ali Mohamad Daoun and Jihad Salem Alame as well as their travel company. Lebanon
Lebanese minister seeks economic boost with Iraq visit George Boushekian visited Baghdad this week to seek cooperation with his Iraqi counterparts and facilitate business deals between Iraqi and Lebanese entities amid Lebanon's economic crisis. News Brief
US alleviates Lebanon's sanctions concerns over energy deal US Ambassador to Lebanon Dorothy Shea provided a Treasury Department letter that addressed concerns over the energy plan's potential to violate sanctions on Syria. Lebanon
Qatar International Islamic Bank retains A credit rating from Moody's The leading Islamic bank’s head said the rating reflects its ability to withstand the COVID-19 pandemic. News Brief
The Takeaway: Iraq takes first steps toward new government: What comes next Updates from our regional correspondents on Turkey, Kazakhstan and Saudi Arabia, Oman, and Egypt; multimedia on Israel and Iran — all in about 1,000 words. Iraq
Israel pledges to keep US in loop on trade with China In the face of growing American concerns, Jerusalem has reportedly promised Washington it will keep it abreast of any major business deals with Beijing. Israel
As omicron spreads, Israelis turn against Bennett Many Israelis feel that the government and Prime Minister Naftali Bennett have lost control over battling the spread of the coronavirus omicron variant. Israel
Syria joins China’s Belt and Road Initiative The admission of Syria into the Chinese economic project is the latest sign of strengthening relations between Damascus and Beijing. News Brief
