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
Egyptians carry on tradition of entrusting savings to gold Many Egyptians see gold as the safest investment option for their savings, especially in times of economic uncertainty. Egypt
Turkish lira tumbles ahead of key decision on rate cuts, wages As Turkey’s battered lira pushes to new lows against the dollar, all eyes turn to Thursday’s central bank meeting and critical talks on the minimum wage. Turkey
US sends envoy to engage Gulf, Israel on cybersecurity A deputy secretary of the US Treasury is heading to the Middle East to talk coordination on maintaining an edge in the digital domain. Israel
Palestinian banks accused of colluding with Israel Palestinian banks in the Gaza Strip froze the accounts of dozens of associations and civil society institutions, sparking a wave of anger among them and the citizens who benefit from the services they provide. Palestine
Turkish inflation nears 20% on rising food, energy costs While Turkey’s latest official inflation figures beat expectations, raising some concerns over data integrity, consumer prices are expected to keep rising amid growing global energy costs. Turkey
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
Erdogan backpedals on threat to expel 10 Western ambassadors After threatening to expel 10 foreign envoys, Turkish President Recep Tayyip Erdogan Monday appeared to de-escalate a diplomatic row sparked by the ongoing imprisonment of Turkish philanthropist Osman Kavala. Turkey
Despite reaching all-time high, Egypt’s external debt is within safe levels Inflows of foreign currency debt were spent on infrastructure, health care and overhaul of shantytowns across the country. However, Egyptian banks’ net foreign liability position stands out as a risk. Egypt
Turkey calls designation from global finance watchdog ‘unwarranted’ The Paris-based Financial Action Task Force added Turkey to its “grey list,” which indicates concerns about money laundering and terrorist financing. News Brief
Global finance watchdog adds Turkey to grey list Amid high inflation, widespread youth unemployment and deepening poverty, the country's economic situation is looking increasingly grim Turkey
Is Ankara capitulating to or allowing lira’s depreciation? Turkey’s central bank shocks financial markets with a bigger-than-expected rate cut, overriding concerns over the slump of the Turkish lira and its bruising impact on the economy. Turkey
Turkey’s vulnerable lira plunges to record low after central bank sackings In a midnight decree, President Recep Tayyip Erdogan rid the central bank of key bureaucrats who opposed his calls for lower interest rates ahead of next Thursday’s key meeting. Turkey
