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Economy & Business

Iran | Jun 17, 2022

Iran, Russia to establish trade centers

The two countries will focus on energy-related trading and establishing a north-south corridor to rival the Suez Canal.

Russian Foreign Minister Sergey Lavrov (L) talks with his Azerbaijani counterpart Elmar Mammadyarov (C) and Iranian counterpart Mohammad Javad Zarif (R)in Baku on Aug. 8, 2016.

Gulf | Jun 17, 2022

Saudi Arabia’s NEOM to build renewable-powered desalination plant

The controversial planned city will partner with a Japanese and a French company in the endeavor.

Palestine | Jun 17, 2022

Crisis-stricken Hamas borrows from local banks

The Hamas movement has been forced to borrow from the local banks to fund the salaries of its 45,000 employees amid low local revenues, costly subsidies and declining Qatari financial grants.

Egypt | Jun 17, 2022

Egypt puts up for sale land plots for expats wishing to build cemeteries

The Ministry of Housing and Urban Communities in Egypt has put up for sale cemetery lands for Egyptians abroad in four new cities, priced in dollars, as part of the government’s efforts to counter a severe foreign currency shortage.

This picture shows an aerial view of farmland near the city of al-Khankah in Qalyoubiyah province in the fertile Nile Delta agricultural region, north of Cairo, Egypt, May 28, 2021.

Iraq | Jun 16, 2022

Iraq connects electrical grid with Saudi Arabia

The move could help Iraq with its electricity woes and reduce energy dependence on Iran.

Turkey | Jun 15, 2022

Turkey ‘highly vulnerable’ to liquidity pinch, says leading credit agency

Turkey, Tunisia and other countries in the Middle East could face liquidity challenges amid rising interest rates worldwide.

Gulf | Jun 15, 2022

Gulf banks waste no time raising rates in response to US Fed

Gulf states have already raised rates twice this year in response to the US monetary actions.

Traders work on the floor of the New York Stock Exchange on June 15, 2022.

Gulf | Jun 15, 2022

UAE bans exports of India-sourced wheat, restricts others

The Ministry of Economy said the decision was motivated by global supply chain disruptions as well as the recent trade agreement between the UAE and India.

Tunisia | Jun 15, 2022

Tunisians watch prices of most consumer goods soar

Tunisians have seen their purchasing power plummet in recent days, amid a market shortage of basic goods, soaring prices of most consumer goods and warnings of possible nationwide protests.