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
Is the worst behind in Turkey’s economic turmoil? Ankara’s policy reversal on interest rates has led to some positive developments in the economy, but many observers warn that it is still too early to rejoice. Turkey
Iraq devalues dinar to boost economy, factory production The Central Bank of Iraq cuts the value of the dinar against the dollar in the context of policies to address Iraq's economic crisis. Iraq
Saudi, Kuwaiti investments boost Cairo, Sphinx airports Egypt received offers from Saudi Arabia and Kuwait to invest in projects to expand the Cairo and Sphinx international airports, as part of efforts to boost tourism and put Egypt on the global transit map. Egypt
Gulf economies face major challenges in post-COVID 19 world Signals indicate the embargo imposed on Qatar could come to an end, but can the Gulf Cooperation Council play a coordinating role vital to diversify Gulf economies post-pandemic? Legacy: Gulf
Lebanese citizens see no relief as economic downturn worsens Amid plans to lift subsidies and private universities’ decision to raise tuition fees, the Lebanese people continue to suffer under the country’s crumbling economy with no end in sight. Lebanon
Turkish Central Bank to pursue tight monetary policy against inflation Turkey’s Central Bank Governor Naci Agbal said Wednesday he would seek to stem inflation, possibly through further rate hikes, pledging to continue tight monetary policies and stabilize the nation’s currency. Turkey
Iran’s budget banking on US lifting sanctions The projected reliance on oil revenues is wildly optimistic, likely making the budget a wish list, at best. Iran
Iraqi government considers sales tax to relieve budget crisis Iraq is mulling the possibility of imposing a sales tax amid concerns over the consequences of such a move on Iraqis already struggling in a down economy. Iraq
Jordan’s 2021 budget is a harbinger of worse things to come The Jordanian government approved the 2021 draft budget law, which suggests an even tougher and more unstable year for Jordanians, who are witnessing a growing economic crisis worsened by the coronavirus pandemic. Jordan
No relief in sight for Mideast hotspots after catastrophic 2020 Conflict, disease, famine compound crises in Gaza, Yemen, Syria. Regional
Turkish inflation creeps higher as Central Bank pressed to act Turkey’s annual inflation hit 14.03% in November, well above forecasts, raising pressure on the nation’s new Central Bank governor to impose tight monetary policies. Turkey
Cash-strapped Turkey relies on Qatari investments In only five years, Qatar has come to account for 15% of all foreign direct investments in Turkey, second only to deep-rooted Dutch investors. Turkey
