With Gulf charm offensive, Turkey’s Erdogan sets up dealmaking deluge across defense, energy

A Turkish drone factory is coming to Saudi Arabia following a $3.1 billion deal with defense firm Baykar — one of many key deals that should soon take flight across numerous sectors as Turkey deepens cooperation with former Gulf rivals.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

Head of Tunisia’s bakery owners union arrested amid bread crisis

President Kais Saied is targeting those he accuses of monopolizing flour amid an ongoing bread shortage.

Tunisia

US greenlights Israel's $3.5B sale of Arrow 3 air defense system to Germany

Germany has been trying to acquire the system for around a year now, with tension rising between Russia and NATO over the Ukraine war.

Israel

Saudi Arabia, China sign $1.33 billion in housing deals

The Saudi-China Business Forum represents the latest sign of increased Chinese interest in Saudi Arabia.

Legacy: Gulf

Morocco to continue to attract likes of Boeing and Airbus as aeronautics industry grows

Morocco’s aeronautics industry has come a long way over the past decade.

Francisco Serrano

In Lisbon, reporting on North Africa business

Saudi oil exports fall to 21-month low

The decline in the kingdom’s oil exports follows its production cuts as well as those of Russia. Saudi Arabia may face difficulties maintaining price stability moving forward.

Legacy: Gulf

Offshore gas rig sets up in cash-strapped Lebanon

The arrival of the machinery marks a significant development for Lebanon, which hope gas exploration will revive its ailing economy.

Lebanon

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

Iran’s oil exports to China hit 10-year high

Iran is growing politically and economically closer to China in light of US sanctions.

Iran

How significant is India's first ever use of rupees for UAE oil payment?

Abu Dhabi National Oil Company (ADNOC) received the rupee payment of an undisclosed amount from Indian Oil Corp., according to an Indian Embassy statement acquired by Reuters.

United Arab Emirates

Moody’s upgrades outlook for Turkish banks amid economic U-turn

The US-based rating agency projected Turkey's economic growth to be 4.2% at the end of 2023, falling from 2022’s 5.6%.

Turkey