Analysis Egyptians in for another expensive Ramadan despite recovering economy Egyptians tend to spend more during the Islamic holy month relative to the rest of the year, but high inflation and low wages have reduced their purchasing power. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Meet Fahad Al-Saif, PIF exec and Saudi Arabia's new investment minister Saif previously led investment strategy at the kingdom's sovereign wealth fund and has held senior roles at the Saudi Awwal Bank and HSBC Saudi Arabia. Saudi Arabia
Saudi Arabia names new investment minister as Vision 2030 funding lags The leadership change comes as slowing megaprojects and weak foreign inflows expose gaps in the kingdom’s ambitious economic overhaul. Saudi Arabia
Abu Dhabi merges ADQ into new wealth fund L'IMAD: What to know Under the new structure, Sheikh Khaled bin Mohammed, the crown prince of Abu Dhabi, will oversee a broader swath of the emirate’s investment holdings. United Arab Emirates
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
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. Qatar
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. Lebanon
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. Turkey
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. Israel
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. Saudi Arabia
Morocco’s economy to benefit as EU drops it from money laundering list The North African country was removed from the list of high-risk countries for money laundering and terrorism financing in a decision announced by the European Commission on Wednesday. Morocco
Coinbase 'welcomed' to Abu Dhabi's Hub71, hinting at new base in UAE Coinbase CEO Brian Armstrong said at a Dubai-based tech event that the UAE could serve as a hub for parts of the Middle East, North Africa and Asia. United Arab Emirates
Will Telecom Egypt stake sale help country achieve IMF reforms? An expert said it was "unclear” whether the sale helped solve Egypt’s “key problem” of accessing hard currency. Egypt
Analysis Saudi Aramco, high-value IPOs face impending pressure in 2023 The United Arab Emirates saw the world’s largest IPO of first quarter 2023, with ADNOC Gas PLC raising $2.5 billion on the Abu Dhabi Securities Exchange. By Salim A. Essaid
Egypt inflation drops to 31.5%, but food prices still rising Annual inflation fell slightly in April compared to the previous month as the central bank readies its next decision on interest rates. Egypt
Lebanon’s angry depositors demand their money back from banks Bank depositors staged a sit-in in Beirut to protest the banks' illegal policies imposed on their deposits amid a stifling economic crisis. Lebanon
