Banking and Finance

With Saudi Aramco's $50 billion deal, Turkey seeks less dependency on West

The two major regional powers had grown distant over the years due to Erdogan’s ties to the Muslim Brotherhood and the 2018 killing at the consulate in Istanbul of Saudi journalist Jamal Khashoggi.

UAE to cooperate with Hong Kong on fintech, crypto as China ties grow

China’s relations with the UAE and other Gulf states are strengthening, particularly regarding economic and energy matters.

Instability in Pakistan increases risks for UAE, Saudi Arabia

Erdogan vs. Kilicdaroglu: What to expect in Turkey's first ever election runoff

Though polls give a lead to the incumbent president, a victory by the main opposition leader in Sunday’s presidential runoff seems still possible depending on a combination of challenging factors.

Qatar forum warns of economic downturn, shift in cryptocurrency

One Qatar Economic Forum participant says it will take at least a generation to reach a point where the world can depend on clean power.

Qatar rolls out $275M market program in latest foreign investment push

The Qatar Investment Authority is setting up a market-making initiative to draw in more foreign investor interest and build up its capital markets.

Double trouble: Lebanon’s Salameh gets second arrest warrant from Germany

Riad Salameh is under increased scrutiny in Europe on suspicions of money laundering at a time Lebanon is grappling with a deteriorating financial and economic crisis.

Turkey Elections: Currency fears grow ahead of presidential runoff

Turkey’s foreign exchange crunch has become so grave that the authorities would even go for limiting cash withdrawals from credit cards to keep the Turkish lira from plunging.

Israel raises interest rates to highest level since 2006

The Israeli economy was also affected by the government’s controversial judicial reform plans earlier in the year, though the situation may normalize following the reform’s pause.

Germany, Italy hold talks with Saudi Arabia, Qatar to strengthen energy ties

Italy is looking for capital from Saudi Arabia's Public Investment Fund for a new fund Rome is setting up to help domestic companies in strategically important sectors.