Economy and trade

Istanbul, the flashpoint of Turkey’s crisis and looming elections

Turkey’s commercial capital, Istanbul, is in the grips of economic turmoil, which raises the prospect of the city’s local administration changing hands after more than two decades of dominance by political Islam.

Turkey

Egyptian silk producers hope to spin profits

Egypt hopes that removing tariffs on the import of silkworms will encourage young entrepreneurs to cultivate them to help meet local demand.

Egypt

Iran pushes Iraq to maintain trade without US dollar

Iran is pushing for an agreement with the Iraqi Central Bank to maintain trade in local currencies after dollar-base trade halted following the reimposition of US sanctions.

Iraq

Gaza’s public servants outraged at Hamas’ recent spending

Recent documents were leaked to the media showing that Hamas spent more than $550,000 for the celebrations of its anniversary, which raised the ire of Gaza government employees who have not received their full salaries since 2013.

Palestine

Gaza traders face new taxes, import restrictions

In a bid to protect national products, Hamas’ Ministry of National Economy in Gaza imposed new taxes on imported goods and banned traders from importing any goods without its consent.

Palestine

Israeli factory to be established in Gaza, is this possible?

Israel’s SodaStream announced it will open a manufacturing plant in the Gaza Strip, raising eyebrows since the company was forced to close a factory it previously operated in the West Bank under pressure from the boycott, divestment and sanctions movement.

Palestine

Iran consumer prices remain stubbornly high despite rial recovery

Despite the Iranian national currency's comeback, consumer prices have yet to see commensurate drops due to price rigidity and uncertainty over the country's economic future.

Iran

Egypt to take charge of Tanzania dam construction

Egypt and Tanzania recently signed a contract allowing Egyptian companies to build a hydroelectric dam in the African country, which experts say will help boost Egypt’s economy.

Egypt

Egypt preparing for stage 3 of Victoria-Mediterranean project

The first phase of feasibility studies for the Victoria-Mediterranean Waterway Project will soon conclude, but funding for the next phase is still to be determined.

Egypt

Egypt taps Asian markets for agricultural export growth

Egypt signed a series of agreements to export its agricultural products to Asia, including China and Japan, in a bid to boost its ailing economy.

Egypt

How will Egypt integrate its shadow economy in its official one?

A study shows that Egypt’s shadow economy amounts to about $400 billion a year, prompting the government to merge it with its official economy through a series of new laws.

Egypt

Turkey’s recession becomes official

The shrinking Turkish economy needs external funds to start growing again, but luring foreign investors back is a tall task that Turkey is unlikely to accomplish in the short run.

Turkey