Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption. Bahrain
Saudi Arabia postpones 'Davos in the Desert' until 2027 amid Houthi attacks The Future Investment Initiative, which typically attracts the CEOs of some of the biggest companies in business, finance, and technology to Riyadh, will now be held next year. Saudi Arabia
Analysis How Hormuz crisis is reshaping economic ties between Iraq and Syria Iraq and Syria are expanding trade and energy cooperation, but security risks, economic challenges and longstanding mistrust raise questions about whether their growing partnership can endure. By Shelly Kittleson In Baghdad, reporting on Iraqi politics
Syria to rejoin Arab group at IMF, leaving Russian-led constituency Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD. Syria
UAE’s non-oil trade hits record $340B in first half of 2023 Trade is set to increase after the BRICS bloc of major developing economies announced last week that the United Arab Emirates was among the list of countries invited to join the group. United Arab Emirates
Will BRICS throw a lifeline to dollar-strapped Egypt? Economists believe BRICS membership will give Egypt a chance to ease pressure on the dollar, but is not a quick remedy for the country’s economic woes Egypt
Egypt, Iran, Saudi Arabia, UAE to join BRICS The Shanghai-headquartered New Development Bank, or so-called “BRICS bank”, had already admitted the UAE and Egypt as shareholders. Iran
Analysis Saudi holdings of US Treasuries hit record low, signaling push to diversify from dollar Saudi Arabia's stockpile of US Treasuries fell to $108.1 billion in June, the lowest point since December 2016. By Salim A. Essaid
Protests in southern Syria as economy worsens Syria’s economy is in tatters, and the removal of subsidies has led to relatively rare protests in government territory. Syria
Israel’s inflation drops to 3.3%, beating expectations Inflation in Israel has dropped to 3.3% from 4.2% in June, even as analysts predicted it would rise in July. Israel
Why did Turkey restrict gold imports as it rolled new economic measures? Observers believe Turkey’s new economic leadership is unlikely to take strong measures to curb inflation before Erdogan gets through local elections in March 2024. Turkey
In radical shift, Israel's El Al airline in talks to buy Airbus planes El Al is in "serious" talks with Airbus to purchase new planes but continues to negotiate with Boeing as well. Israel
Tunisia, Libya strike deal on stranded sub-Saharan African migrants Anti-migrant sentiment in Tunisia has led to a crisis on the border with Libya, adding to Tunisia’s political and economic woes. North Africa
Egypt’s headline inflation hits all-time high of 38.2% in July Surging food prices helped July’s headline inflation numbers break the record of 36.8% in June. Egypt
Egypt’s power cuts persist amid heat, declining natural gas production Egypt wants to export more natural gas, including in cooperation with neighboring Israel, but domestic production is declining amid the government’s efforts to reduce consumption. Egypt
From Beijing to Chengdu, UAE’s ENOC establishes first China jet fuel network The Dubai government-owned oil and gas company said the expansion will extend to strategic cities including Beijing, Shanghai, Guangzhou, Shenzhen and Chengdu. United Arab Emirates
