Canada becomes latest Western country to lift Syria sanctions: What to know Like the US, Canada had strained relations with Syria during the civil war but is now showing signs of engagement. Syria
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
Egypt's Central Bank governor resigns amid economic crisis The resignation of Egypt's central bank governor has put the country's economy under pressure. Egypt
Money inflows of unknown origin headed for record in Turkey As Turkey’s current account deficit continues to widen in the coming months, foreign currency inflows of unknown origin might end up covering more than 70% of the gap. Turkey
Family of man who held up Beirut bank stages protest Bassam al-Sheikh Hussein took hostages at gunpoint to get his own money out of the bank. Many Lebanese, who are unable to access their savings amid the economic crisis, called him a hero. Lebanon
Saudi Arabia secures funding for electricity interconnection with Egypt Egypt just approved a plan to ration electricity, though the government said there is not a shortage of power. Egypt
Saudi Arabia’s Public Investment Fund acquires stakes in Egyptian state-owned firms The acquisitions help make good on Saudi Arabia’s pledge to invest billions in Egypt. Saudi Arabia
Turkey’s current account gap widens, with no respite in sight for the lira The Turkish lira is likely to tumble further in the coming months as the country’s current account gap threatens to grow beyond $40 billion by the end of the year. Turkey
Breaking | Last Updated: August 17, 2022, 12:21 pm Reports: armed man who held bank hostage in Lebanon now in custody Lebanese cannot access most of their savings amid the worsening economic meltdown. Lebanon
Here's how the latest US rate hike will impact Egypt's economy A stronger US dollar will inevitably drive higher import costs, and subsequently prices, in the most populous Arab country, yet could eventually provide a boost to the local currency with an increase in exports. Egypt
Downward spiral causes crash in Egypt’s gold prices Gold prices sharply dropped in Egypt amid a drop of global prices after the US Federal Reserve hiked interest rates. Egypt
Turkey raises inflation forecasts The Turkish lira is also again falling close to historically low levels against the US dollar. Turkey
UAE Central Bank announces more sanctions The Emirates is seeking to improve its record on financial transparency after being implicated in money laundering and sanctions evasion controversies. Legacy: Gulf
How realistic are Ankara’s hopes of trading in Turkish liras? While the Turkish lira continues to tumble, Turkey’s currency swaps with China and other countries have failed to live up to their stated objective of boosting trade in local currencies, official data show. Turkey
