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
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
Egypt seeks Brazil’s support in Nile dam dispute After Brazil was elected a nonpermanent member of the UN Security Council, Brazilian support for Egypt in the Grand Ethiopian Renaissance Dam crisis gained momentum. Egypt
