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
Analysis Saudi Arabia-PwC split signals shift to local consultancies: What to know The Saudization of the consultancy sector is not a compliance exercise but instead amounts to a strategic realignment that challenges the long-standing, but outdated, assumption that foreign expertise is inherently superior. By Amal Altwaijri In Washington, DC, reporting on Saudi Arabia
Analysis France recalibrates Turkey ties as east Med dynamics shift: What to know After years of strain between France and Turkey, the two countries seem to be seeking rapprochement on regional issues. By Jonathan Fenton-Harvey In London, reporting on North Africa and Gulf politics
China courts Gulf, BRICS allies as trade war with US escalates Since US President Donald Trump announced reciprocal tariffs on more than 180 countries on April 2, Beijing has stepped up engagement with Riyadh. China
Netanyahu set to meet Trump amid differences over Iran, tariffs and Turkey: What to know In a surprise move, the US president invited the Israeli prime minister to Washington at short notice to discuss his recent tariff decision, the Iranian file and other issues. United States
OPEC+ members boost output as Trump tariffs bring down oil prices The US president has been calling on Saudi Arabia and other top oil producers to boost production and bring down prices. Saudi Arabia
How Trump's latest tariffs impact the Middle East Gulf countries were relatively spared, with the US imposing only a 10% tariff, whereas other Middle Eastern nations are facing steeper trade penalties. Saudi Arabia
After major arms sales, Trump to visit Saudi Arabia, UAE, Qatar: What to know The president is urging Gulf countries to increase their investment in the US after a series of bilateral economic and defense deals in recent months. Saudi Arabia
Meet Karim Souaid, Lebanon’s new central bank chief with daunting mission The appointment of a new central bank governor comes nearly two years after the term of embattled governor Riad Salameh ended in July 2023. Lebanon
Gulf markets dip after Trump announces 25% automotive tariffs Donald Trump announced on Wednesday 25% tariffs on imported cars and light trucks entering the United States, set to take effect on April 2, further fueling the ongoing trade war and contributing to market volatility. Saudi Arabia
Egypt, China ink $1.65B deal for steel factories in Suez: What we know The deal was signed by Egypt’s General Authority of the Suez Canal Economic Zone and the Industrial Development Authority with Xin Feng Egypt Steel and its parent company, Xin Feng China as Cairo-Beijing ties grow closer. Egypt
Iran’s currency drops to more than 1 million rials to US dollar: What to know This is yet another record low for Iran’s currency, as the country navigates intense sanctions and US pressure. Iran
Ben & Jerry’s says CEO ousted by Unilever over activism: What to know In an ongoing legal battle, the ice cream maker and its parent company, Unilever, have locked horns over Ben & Jerry’s social activism and particularly its advocacy for Palestinians during the Gaza war. United States
