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
Mountain couriers brave bullets along Iran-Iraq border As the economic crisis deepens in Iran, more people are risking their lives to earn money by transporting goods through the mountains of the Kurdistan region on the Iraq-Iran border. Iraq
Coronavirus puts more pressure on Iran’s already strained economy Amid ongoing economic strain due to sanctions, mismanagement and corruption, the ongoing outbreak of coronavirus presents additional challenges. Iran
Socks for tourists, jobs for refugees in Jordan Two young entrepreneurs in Jordan get women in refugee camps to knit socks for tourists. Jordan
Art, culture victims of Lebanon's economic crisis Lebanon’s cultural organizations, which have long been regional models, struggle to keep their heads above water as economic and political crises deepen. Lebanon
Why is the steel industry in Egypt declining? Egypt's steel industry has generally been lowering prices as a result of an oversupply in inventories and lower raw material prices just as a new steel factory comes online. Egypt
Edelman strikes $6 million deal with Saudis to promote G-20 business summit Saudi petrochemicals company SABIC has hired the Chicago-based PR giant to support this year’s Business 20 gathering in Riyadh. Saudi Arabia
Syrian crossings reopen, freeing up flow of people, goods The closed crossings that have separated Turkish-affiliated forces in Syria from those of the Kurds have reopened, allowing for trade and travel in those areas for the first time in months. Syria
Palestinian-Israeli agriculture exchange hits a snag The normal exchange of agriculture and animal goods between Israel and Palestine has hit a snag, causing economic and social interruptions and possibly pushing Palestinians to become less dependent on Israel. Palestine
Lebanon’s new government has its work cut out for it The newly formed Lebanese government is in for real challenges, mainly the crisis of the collapsing Lebanese pound and debt that has reached a record level. Lebanon
Lebanon to ask IMF for technical help with economic crisis Amid a deepening financial and monetary crisis plaguing Lebanon, a government source announced that the country is to officially request the IMF’s help. Lebanon
Egypt’s non-oil private sector activity declines despite banking flourishing Egypt's non-oil private sector growth has decreased to its lowest level in three years, affecting the country's private sector and undermining a campaign to boost private sector companies. Egypt
Jitters grip Egyptian importers as coronavirus spreads After Egypt suspended its flights with China, concerns emerged about the supply of Chinese products and raw material, as well as price hikes. Egypt
