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
King Abdullah to be first Arab head of state to meet with Biden King Abdullah will visit Washington for the first time in two years and is to meet with US President Joe Biden on July 19. Jordan
Egypt-Turkey economic ties so far unaffected by political differences Despite the ongoing political differences between Egypt and Turkey, Cairo remains Ankara’s largest trading partner in the African continent. Egypt
Will high oil prices setback Gulf reforms? Push harder or take a breath on economic reforms? The question can be tricky for Gulf rulers Legacy: Gulf
Egypt anticipates gains from expanding economic ties with Iraq Egypt, Iraq and Jordan are working to establish an alliance to boost cooperation in various economic fields. Egypt
Islamic State exploits economic downturn in Iraq, Syria, US envoy says John Godfrey said the thousands of suspected Islamic State fighters held in northeast Syria constitute a security threat to the region. Syria
Lebanon's parliament backs $556M cash subsidy As Lebanon grapples with an economic crisis, qualifying families would receive up to $137 per month to help cover basic goods. News Brief
Iraq hosts historic summit with Jordanian, Egyptian leaders The visit by Egyptian President Abdel Fattah Al-Sisi to Baghdad is the first by an Egyptian head of state since 1990. Iraq
Egypt looks to Islamic bond market for foreign investment boost Egypt’s sovereign bonds bill paves the way for Egypt to join the Islamic finance market, allowing foreign investment in national projects such as the Suez Canal and Aswan Dam, which affects Egyptian national security. Egypt
Iraq automates its customs service to reduce corruption at border crossings The Iraqi government has taken several new initiatives to fight corruption, from automating border crossings, arresting corrupt figures and imposing restrictions on the economic interests of militias and political parties. Iraq
Emirates loses more than $5 billion in 2020 The Dubai-based airline's financial struggles amid the coronavirus pandemic has led to job cuts and a massive cash injection from the government. News Brief
Iran's presidential hopefuls promise big on economy, but can they deliver? While candidates for the election this Friday have a long list of promises to fix the economy, inefficiencies in Iran's political structure limit the president's ability to make lasting change. Iran
The reform challenge: What Oman (and others) might learn from Egypt Parallels in experience may offer guideposts for managing change. Oman
