Memos

Expert insights to understand regional trends.

Memo

Rising Suez Canal revenues to provide much-needed lifeline for Egypt in 2023

Marc Español

An Egyptrian flag is pictured on the shore of the Suez Canal in the northeastern city of Ismailiya, on May 27, 2021. - Talks about compensations with the owner of the container ship Ever Given, that blocked the Suez Canal at the end of March are "at a standstill", Ossama Rabie, the head of the Egyptian authority that runs the Suez Canal said in an interview with AFP. The blocking that lasted six days, cost Egypt between 12 and 15 million USD per day of closure, according to the Suez Canal Authority (SCA). (

An Iranian man looks looks at currency exchange rates outside a shop in downtown Tehran on June 15, 2021. - Iran holds a presidential election on June 18, with ultraconservative Ebrahim Raisi, who heads the judiciary, most likely to win from the seven candidates. (Photo by MORTEZA NIKOUBAZL / AFP) (Photo by MORTEZA NIKOUBAZL/AFP via Getty Images)

Iranian exporters to suffer impact of frozen exchange rate

Bijan Khajehpour

Bijan Khajehpour

In Vienna, reporting on Iranian politics

This photograph shows rolls of copper wires stored at the Nexans manufacture in Lens, northern France, on May 11, 2022. - The French cable company is the only one in its sector to have its own copper foundry in Lens. This plant represents a competitive advantage for Nexans at the dawn of an explosion in demand for electrical cables. (Photo by DENIS CHARLET / AFP) (Photo by DENIS CHARLET/AFP via Getty Images)

Saudi Arabia to ramp up copper mining to meet rising global demand

Copper demand is expected to explode as governments and companies worldwide try to meet ambitious net zero targets. Saudi Arabia is positioned well to take advantage.

Afshin Molavi

Algeria's Energy Minister Mohamed Arkab attends the opening session of the 24th ministerial meeting of the Gas Exporting Countries Forum (GECF), in the Capital Cairo on October 25, 2022. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Algeria, Sonatrach banking on high energy prices for 2023

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

An aerial view shows the Central Business District (Ruwi) in the Omani capital Muscat on April 9, 2021. (Photo by Haitham AL-SHUKAIRI / AFP) (Photo by HAITHAM AL-SHUKAIRI/AFP via Getty Images)

Oman to backpedal on key reforms in favor of social stability

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Saudi fans react as they watch on a screen the Qatar 2022 World Cup Group C football match between their national team and Mexico, at the Marsool Park in Riyadh, on November 30, 2022. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia’s sports ambitions take center stage as MENA countries eye 2030 World Cup

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Shoppers walk past jewellery shops in the Taiba gold market in the capital Riyadh on June 29, 2020, after authorities announced a 10% increase in the VAT rate, to reach 15%, starting from first of July. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Gulf tax landscape ushers in a new era

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

This picture shows Dubai's Financial Center in Sheikh Zayed road on October 2, 2019 in Dubai. - With the highest tower in the world, grand commercial centres and artificial islands, Dubai projects an image of prosperity, even as the city-state races to court investors to bolster a flagging economy. Despite boasting the most diverse economy in the Gulf region, the emirate's vital property, tourism and trade sectors have weakened in recent years. (Photo by KARIM SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Gett

Riyadh unlikely to unseat Dubai as regional financial hub

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Central Bank of Egypt Governor Hassan Abdalla speaks at the 2022 Annual Meetings Plenary during the 2022 IMF/World Bank annual meeting October 14, 2022 in Washington, DC. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)

New IMF loan is no quick fix for Egypt’s financial challenges

Marc Español

Morocco's sole oil refinery in Mohammedia, near Casablanca, on June 22, 2019. - Three years after it was liquidated for racking up billions of euros worth of debt, Morocco's sole oil refinery and one-time economic flagship is struggling to attract a buyer and survive. A self-declared "national front" -- comprising employees, economists and union leaders -- is leading the charge to salvage refining company SAMIR, while a trade court desperately seeks a new owner. (Photo by - / AFP) (Photo credit should read

Morocco, Tunisia to face bloated energy costs over 2023-2024

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

Iranian Nazanin Daneshvar (R) founder of Takhfifan startup company watches her employees working at the desk in Tehran on July 1, 2015. Women are more likely to start businesses. Very present in senior positions of the Islamic Republic, they are needed in the private sector. AFP PHOTO/BEHROUZ MEHRI / AFP / BEHROUZ MEHRI (Photo credit should read BEHROUZ MEHRI/AFP via Getty Images)

The strength of Iran’s startup ecosystem put to the test amid protests

Bijan Khajehpour

Bijan Khajehpour

In Vienna, reporting on Iranian politics

A general view dated 01 June 2004 of an oil installation in Saudi Arabia's northeastern Gulf port of Jubail. The United Arab Emirates (UAE) will increase oil output this month by 400,000 barrels per day (bpd) over its OPEC quota to help ease record prices, Oil Minister Obeid bin Saif al-Nassiri announced 02 June 2004. Nassiri spoke before departing for Beirut where the oil cartel holds a formal meeting tomorrow. Crude oil futures in New York surged 01 June to a record closing price of 42.33 dollars a barrel

Luberef, Aramco set tone for hot 2023 IPO listings in Gulf

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A picture taken on November 3, 2019 shows a sign of Saudi Aramco's initial public offering (IPO) during a press conference by the state company in the eastern Saudi Arabian region of Dhahran. - Saudi Aramco confirmed it planned to list on the Riyadh stock exchange, describing it as a "significant milestone" in the history of the energy giant. (Photo by - / AFP) (Photo by -/AFP via Getty Images)

Saudi Aramco tested by deglobalization and energy transition

Gerald Kepes

In Washington, DC, reporting on regional energy trends