Syria to rejoin Arab group at IMF, leaving Russian-led constituency Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD. Syria
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
Analysis Turkey’s $20B fund crisis: Who profited, and who will pay? Opposition parties are demanding immediate government compensation for affected investors, who face up to a six-month wait as independent banks oversee the asset liquidations. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Iran’s rial hits record low as pressure on oil exports mounts The rial was trading at more than 2.5 million to the dollar in Tehran's open market on Tuesday. Iran
How realistic are Ankara’s hopes of trading in Turkish liras? While the Turkish lira continues to tumble, Turkey’s currency swaps with China and other countries have failed to live up to their stated objective of boosting trade in local currencies, official data show. Turkey
Israeli banking reforms to facilitate fintech growth Israeli banking authorities are advance reforms to open Israel’s credit market and render it much more competitive. Israel
Egypt’s growing fintech ecosystem transforms country’s finances A population of over 100 million, young, largely unbanked, with a high penetration of internet and mobile subscriptions paves the way for innovation in Egypt's fintech sector. Egypt
Abu Dhabi port operator acquires stake in Egyptian shipping firms Gulf countries are interested in buying Egyptian assets as the country’s economy falters. Egypt
World Bank approves $500 million loan to Egypt for food security Egypt, like other countries in the region, is contending with food security and price increases related to the Russian invasion of Ukraine. Egypt
US deputy treasury secretary in Turkey to warn against evading Russian sanctions In a visit to Ankara Wednesday, US Treasury Deputy Secretary Wally Adeyemo plans to remind Turkey that anyone evading US sanctions against Russia will be held accountable. Turkey
Iran, Russia to establish trade centers The two countries will focus on energy-related trading and establishing a north-south corridor to rival the Suez Canal. Iran
Israel raises interest rates, following Gulf, US Inflation is rising throughout the Middle East and many countries' central banks are raising interest rates in response. Legacy: Gulf
Gulf states blacklist terror financiers linked to Iran, Islamic State, Syrian regime Lead figures in the Assad regime’s Qatirji oil-smuggling network were among those sanctioned. Legacy: Gulf
Israel interest rates to continue upward trend Battling growing inflation, the Bank of Israel has significantly raised the country’s interest rates twice in recent weeks. Israel
How interest rate hikes affect Egypt’s economy The central bank may raise rates further by 100 to 200 basis points in 2022 to be in line with tightening global monetary policies. Yields on T-bills are set to rise. Egypt
