Economy and trade

Suez Canal receives giant dredger in planned upgrade

The Suez Canal Authority is talking about plans to widen the southern section of the canal, only days after the giant Panama-flagged container vessel, Ever Given, went aground and became wedged across the international maritime passageway, causing a weeklong blockage.

A correspondent in Egypt | Egypt | Apr 17, 2021

Egypt has received one of two dredgers it has ordered from Dutch Royal IHC. Here, a dredger is seen at work on the new waterway of the Suez Canal on June 13, 2015, in the port city of Ismailia, east of the capital, Cairo.

Tuk-tuks become common sight in Lebanon's streets amid economic crisis

Amid the devastating economic crisis and the deteriorating living conditions in Lebanon, many have replaced their vehicles with tuk-tuks to run errands, work or deliver goods.

Hanan Hamdan | Lebanon | Apr 17, 2021

Tuk-tuks are lined up in the village of Bir Elias, Aug. 8, 2020.

Surprising economic upside seen for Egypt, Morocco and Iran

Reports this month by the IMF and the US intelligence community also underscore troubling trendlines.

Week in Review | Egypt | Apr 16, 2021

Kuwait and China seek diversifying economy via Belt and Road Initiative

Kuwait has been working on diversifying its national economy in light of economic variables, so it has made efforts to bolster cooperative ties with several partners like China and others to serve Kuwait Vision 2035.

Hatem Khedr | Gulf Pulse | Apr 13, 2021

Chinese Vice Premier Han Zheng (R) meets Kuwaiti first Deputy Prime Minister and Minister of Defense Sheikh Nasser Sabah al-Ahmad al-Sabah (L) at the Great Hall of the People on Dec. 17, 2018, in Beijing, China.

Gold industry in Gaza booms amid coronavirus outbreak

The gold industry in Gaza has thrived amid the outbreak of the coronavirus pandemic in terms of increased production locally and enhanced quality and availability of a variety of gold products and jewelry.

Hana Salah | Palestine | Apr 13, 2021

A Palestinian vendor displays a necklace in a window case at a gold market in Gaza City's historic old quarter, Gaza Strip, March 30, 2016.

Dubai restaurants to stop screening dining areas during Ramadan fast

Restaurants in the UAE's largest city previously had to screen off places where people ate during fasting hours during the Islamic holy month, as is customary throughout the region.

Al-Monitor Staff | United Arab Emirates | Apr 12, 2021

People are pictured inside a restaurant in Dubai, as the Gulf emirate moved to ease its lockdown measures amid the coronavirus pandemic, United Arab Emirates , May 26, 2020.

Kadhimi deepens cooperation with Saudi Arabia, UAE in Gulf tour

Iraqi Prime Minister Mustafa al-Kadhimi is pursuing two-track diplomacy, expanding cooperation with both Levant and Gulf countries.

Hassan al-Mustafa | Iraq | Apr 8, 2021

Post-COVID Saudi Arabia doubles down on Vision 2030

Although foreign investors mostly took a pass on Vision 2030, Saudi companies and the Public Investment Fund will pour money into a $3.2 trillion reform plan.

Sebastian Castelier | Gulf | Apr 6, 2021

Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman gives a press conference in Riyadh, on April 25, 2016. The key figure behind the unveiling of a vast plan to restructure the kingdom's oil-dependent economy, the son of King Salman has risen to among Saudi Arabia's most influential figures since being named second-in-line to the throne in 2015. Salman announced his economic reform plan known as "Vision 2030."

War over economic routes heats up in Syria

Syria’s economic collapse is stoking the struggle over commercial routes between government-held areas and US- and Turkish-backed enclaves, fueling also disagreements on humanitarian aid.

Fehim Tastekin | Turkey | Apr 5, 2021

Syrians drive in the town of Saraqeb along the main Damascus-Aleppo (M5) highway in Syria's northwestern Idlib province on March 7, 2020, following a Russian-Turkish cease-fire deal.

Why Turkey is wooing Egypt

How will improved relations between Cairo and Ankara boost bilateral trade and joint investment? A number of Egyptian businesspeople are keeping fingers crossed that easing tensions between the two Mediterranean countries will open up new opportunities.

Ahmed Elleithy | Egypt | Apr 3, 2021

President of Turkey, Recep Tayyip Erdogan gestures as he gives a press conference after the cabinet meeting at the Presidential Complex in Ankara, Turkey, on Sept. 21, 2020.

Crisis-hit Turkey risks disastrous foreign investor flight

Erdogan’s interference with the central bank is badly damaging foreign investor confidence in Turkey, threatening hard-currency crunches that could send the Turkish lira to new lows.

Mustafa Sonmez | Turkey | Mar 31, 2021

Reason for Suez Canal ship's grounding under investigation

Authorities are looking for answers as to why the Ever Given got stuck in the canal, causing massive trade losses and danger to hundreds of thousands animals being transported.

Al-Monitor Staff | Egypt | Mar 30, 2021

Stars help peel back curtain from Israeli cannabis industry

Former Minister Tzipi Livni is the latest in a long list of public figures and celebrities joining the rapidly growing medical cannabis industry in Israel.

Danny Zaken | Israel | Mar 30, 2021

Ship stuck in Suez Canal finally freed

Ever Given was refloated on Monday after being stuck on the Egyptian canal's bank for nearly a week, allowing for the resumption of traffic.

Al-Monitor Staff | News Brief | Mar 29, 2021

A man rides his bycycle in the northeastern Egyptian city of Ismailiya, in front of the Panama-flagged MV 'Ever Given'

Egypt eyes economic foothold in Djibouti

Egyptian policy involving East Africa takes a new turn, focusing on economics.

Muhammed Magdy | Egypt | Mar 27, 2021

Economy and trade

Suez Canal receives giant dredger in planned upgrade

The Suez Canal Authority is talking about plans to widen the southern section of the canal, only days after the giant Panama-flagged container vessel, Ever Given, went aground and became wedged across the international maritime passageway, causing a weeklong blockage.

Tuk-tuks become common sight in Lebanon's streets amid economic crisis

Surprising economic upside seen for Egypt, Morocco and Iran

Kuwait and China seek diversifying economy via Belt and Road Initiative

Gold industry in Gaza booms amid coronavirus outbreak

Dubai restaurants to stop screening dining areas during Ramadan fast

Kadhimi deepens cooperation with Saudi Arabia, UAE in Gulf tour

Post-COVID Saudi Arabia doubles down on Vision 2030

War over economic routes heats up in Syria

Why Turkey is wooing Egypt

Crisis-hit Turkey risks disastrous foreign investor flight

Reason for Suez Canal ship's grounding under investigation

Stars help peel back curtain from Israeli cannabis industry

Ship stuck in Suez Canal finally freed

Egypt eyes economic foothold in Djibouti

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