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
How religious convictions influence business culture in Egypt Recent fatwas remind Egyptian Muslims that receiving interest on a savings account is permitted, but profiteering from scarce supplies is not. Culture
SWIFT cutoff leaves Egyptian students in Russia empty handed Russia's exclusion from global payments systems has prevented thousands of Egyptian students in the country from receiving money from their families back home. Egypt
Israel’s first digital bank opens for business Newly authorized by the Bank of Israel, the country’s new digital bank One Zero is taking on several hundred customers each week and 75,000 more people interested in the new platform. Israel
Saudi Arabia announces $600 million in new investment from startups, venture capitalist Foreign direct investment in Saudi Arabia slowed later in 2021 after a promising start, and some entities are reluctant to invest there due to the human rights situation. Saudi Arabia
Israel unhappy over unregulated cryptocurrency trade Israeli authorities are demanding the international crypto stock-exchange Binance to explain unregulated digital currency trade in the country. Israel
Lebanese wary of rise of customs duties amid economic crisis The cash-strapped Lebanese government has approved a draft budget law for 2022 that hikes the customs dollar and imposes new duties, as the country battles a severe economic crisis. Lebanon
Standard Chartered eyes churning out profits from Egypt Egyptian authorities are betting on Standard Charter's expertise to boost online banking and stoke competitiveness. Egypt
Qatar National Bank launches environmentally friendly finance project The Doha-based bank will loan cash to the British bank HSBC to be used for green transportation investments. By Al-Monitor Staff
Saudi business group touts plan to improve economic ties with Russia Russia is working to improve relations with Saudi Arabia and wants the kingdom to buy its S-400 missile defense system. Russia
Turkey’s central bank continues window dressing with currency swaps Hit by a foreign reserves drain, Turkey’s central bank eyes fresh currency swap deals, including with the central banks of Azerbaijan, Turkmenistan, Uzbekistan and Libya. Turkey
Saudi Arabia to maintain current debt amount Saudi public debt has increased in recent years with the decline in global oil export revenues. By Al-Monitor Staff
Egyptians carry on tradition of entrusting savings to gold Many Egyptians see gold as the safest investment option for their savings, especially in times of economic uncertainty. Egypt
