China slams Trump over economic war on Iran: What to know China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions. Iran
Explainer King Abdullah visits China as region hedges against US unpredictability With no end in sight to the war in Iran and an unchecked Israeli policy across the region, the kingdom is hedging against future uncertainty and a less predictable US policy. China
Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94 In a Truth Social post, the president threatened that any country that provides a financial lifeline to Iran will face "tremendous economic consequences." Iran
Jordan's King Abdullah heads to China in first visit since 2015: What to know Ahead of the visit, King Abdullah said that Jordan hopes to expand cooperation with China in green energy, tourism and aviation. Jordan
Analysis Jordan shores up US lifelines as Iran targets Amman’s reliance on Washington By Samuel Wendel In Washington, DC, reporting on regional business and tech
Global stocks tank over fears of Middle East war, US recession On Wall Street, the S&P 500 lost 3.1% while the tech-focused Nasdaq Composite Index lost 3.7% of its value after markets opened in New York Monday morning. Israel
Analysis How Morocco-UAE economic agreement could usher in new era of bilateral trade With its CEPA program, Abu Dhabi is not only expanding its network of trade and investment partners; it is getting closer to achieving its strategic goal of increasing its non-oil foreign trade. By Sabena Siddiqui In Karachi, reporting on South Asia, Middle East, Iran
IMF greenlights release of $820M to Egypt, cites economic improvement The Washington-based fund said in a statement that the decision was a result of the third review of Egypt’s 46-month Extended Fund Facility arrangement that was approved on Dec. 16, 2022. Egypt
UK’s new government reboots trade talks with Gulf, Israel, Turkey New British Prime Minister Keir Starmer has made economic growth a priority of his Labour government and has pledged to make the UK the fastest-growing economy in the G20. Saudi Arabia
Analysis What's behind China carmakers' foray into Turkey following BYD deal? As a growing number of Chinese carmakers have shown interest in investing in Turkey, Turkish companies in the sector are positioning themselves amid the Chinese foray. By Mustafa Sonmez In Istanbul, reporting on economics
Turkey returns $5B deposit to Saudi Arabia amid economic recovery The Saudi Fund for Development decided to hold the funds in the Turkish Central Bank in March 2023 after ministerial meetings the previous year — the deposit helped Turkey firm up its weakened currency, the lira. Turkey
Turkey sees 157% wealth growth despite economic malaise Bloated asset prices due to sky-high inflation put Ankara at the top of the survey, despite many Turks struggling to get by in real cash terms. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
After 20 years, is Iraq making progress in bid to join WTO? Iraq first applied to join the WTO in 2004, but it made no considerable progress in the accession until its recent efforts to unify tariff and customs regulations between the federal and Kurdistan Region governments. Iraq
Turkey has lost export competitiveness, won't meet annual goal: Official Turkish Exporters Assembly Chairman Mustafa Gultepe said that Turkish exports would likely be between $264-267 billion for 2024. Turkey
China's BYD, world's biggest EV maker, invests $1B in Turkish plant In a post on the social media platform X on Monday, Turkey’s Vice President Cevdet Yilmaz confirmed that BYD is expected to begin production of vehicles in the new factory at the end of 2026 and that the facility will provide around 5,000 direct jobs. Turkey
Middle East startups see funding fall by 34% in first half of 2024 Although startup funding levels have plateaued globally, MENA reported an increase in early-stage rounds and investor participation. United Arab Emirates
Egypt’s remittances reach $2.7 billion in boost to foreign reserves Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues. Egypt
