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
Google Pay, China’s Alipay+ launch in Saudi Arabia amid cashless push Both payment platforms will use mada, the kingdom’s national payment system. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Hong Kong inks agreements with Gulf partners at BRI Summit Some 36 business agreements covering finance, technology, logistics, professional services and education were set to be signed at the event. Saudi Arabia
Saudi firm to pump $700M into economic zone developer in Africa The kingdom's Vision Invest will invest in pan-African developer Arise Integrated Industrial Platforms, which will use the funds to expand across the continent and develop green industrial ecosystems. Saudi Arabia
UK's Revolut enters Middle East fintech market with UAE licenses The Central Bank of the UAE has granted Revolut in-principle approval for stored value facilities and retail payment services licenses. United Arab Emirates
Saudi Arabia, UAE firms sign $18.5B tourism megaproject for Egypt The new deal forms part of Egypt’s Vision 2030 agenda as the government aims to secure $42 billion in foreign direct investment this year. Egypt
Saudi Arabia, UK announce over $445M in investments: What to know The agreements aim to boost bilateral trade and will also support Saudi Vision 2030 reforms to diversify the economy away from reliance on oil by the end of the decade. Saudi Arabia
Turkey's trade deficit falls to lowest level in nearly four years: What to know Turkey’s trade deficit in August shrank to $4.17 billion, its lowest level in 46 months, Trade Minister Omer Bolat said. Turkey
Egypt secures $220M from domestic, Gulf, Chinese investors for solar project Foreign investment from three countries comes at a pivotal time in Egypt’s recovery from its worst financial crisis in over six decades. Egypt
Lebanese PM meets Egypt’s Sisi amid Hezbollah disarmament push: What to know Egyptian President Abdel Fattah al-Sisi pledged support for Lebanon’s stability and reconstruction during talks in Cairo with Lebanese Prime Minister Nawaf Salam. Lebanon
Abu Dhabi’s Lunate buys stake in UK hedge fund, launches $2B investment arm With $1.7 trillion in sovereign wealth, Abu Dhabi has long sought to establish itself as a global financial hub. United Arab Emirates
Analysis Turkey to end costly $60B currency-protection scheme — for now Ankara could soon close the book on a monetary intervention launched to defend the lira in 2021, the latest pivot back to more conventional economic policies following the country's 2023 presidential election. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Saudi Arabia licenses charter operator VistaJet as first foreign airline for domestic flights The Dubai-based private airline group looks to capitalize on the kingdom's growing super-rich luxury travel market. Saudi Arabia
