Morocco’s economy to benefit as EU drops it from money laundering list

The North African country was removed from the list of high-risk countries for money laundering and terrorism financing in a decision announced by the European Commission on Wednesday.

Morocco

Analysis

How a prolonged war in Sudan could threaten global fizzy drink supply

Sudan is the world's leading supplier of gum arabic, an essential ingredient in fizzy drinks that acts as an emulsifying and separating agent.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

Iran, Russia ink $1.6 billion rail deal to rival Suez Canal

Iran and Russia agreed to build a railway between two Iranian cities as they continue to develop their trade relations despite US sanctions.

Iran

Qatari royal submits last-ditch $6.2 billion offer for Manchester United

The updated offer, submitted Tuesday, is believed to be close to £5 billion ($6.2 billion) but shy of the current owners’ £6 billion ($7.4 billion) valuation for the soccer club.

Legacy: Gulf

Saudi Arabia increases stake in EA gaming by 55%

The PIF held 16.01 million shares in Electronic Arts (EA) before Q4 2022, but after Q1 2023, it held 24.81 million shares.

Saudi Arabia

Petrochemicals take center stage in Gulf’s new oil playbook

Building on experience gained from decades of exporting low value crude oil that fueled the global economy, Gulf countries beef up production capacities of higher value petroleum products to bring a greater chunk of the oil’s value chain closer to home.

Legacy: Gulf

France seeks arrest of Lebanon's Riad Salameh after no-show for corruption probe

Riad Salameh, 72 years old, is currently being probed by Lebanese authorities and European countries including Switzerland over alleged money laundering.

Lebanon

Analysis

For Israel, normalization with Saudi Arabia not impossible

Israel is cautiously optimistic about US efforts to push Saudi Arabia towards normalization.

By Ben Caspit

In Tel Aviv, reporting on national security, Israeli politics, defense

Will Telecom Egypt stake sale help country achieve IMF reforms?

An expert said it was "unclear” whether the sale helped solve Egypt’s “key problem” of accessing hard currency.

Egypt

UAE official discusses cooperation with Iran’s roads minister

The UAE and Iran continue to maintain cordial economic and political ties, despite US pressure.

United Arab Emirates

Turkey’s main stock index falls after election stalemate

The Turkish stock market rallied last week as opposition leader Kemal Kilicdaroglu gained momentum in the race to defeat President Recep Tayyip Erdogan.

Turkey

Egypt’s economy braces for new hit from Sudan conflict

Egypt fears that a prolonged conflict in Sudan, a major market for its exports, will add to its economic hardships.

Egypt