Inflation in Turkey drops below 40% in May as Erdogan forms economic team

As Turkey’s annual inflation eases further in May, eyes are on the policies the reelected president's new economic team will pursue with Mehmet Simsek at the helm.

Turkey

Karim Benzema to join Saudi club Al-Ittihad, confirms Real Madrid exit

The Frenchman's contract with the Saudi side is understood to be for two years with the option to extend for a further season.

Saudi Arabia

Goldman Sachs latest bank to expand in Gulf as balance of power shifts

Economic trends are incentivizing multinational banks and financial services firms to expand their operations in the Gulf region.

Legacy: Gulf

Analysis

Saudi Arabia set to host major China business conference as ties grow

The kingdom wants to diversify its economic partnerships and values China with regards to energy and geopolitics, according to one expert.

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

Morocco's share in formal cannabis market to remain minimal despite reforms

There are questions as to whether local dynamics in the cannabis-growing region and the prospect of international competition could stunt the government’s attempts to make Morocco a powerhouse for the export of legal cannabis.

Harry Clynch

In London, reporting on Middle East economics

Analysis

With Saudi Aramco's $50 billion deal, Turkey seeks less dependency on West

The two major regional powers had grown distant over the years due to Erdogan’s ties to the Muslim Brotherhood and the 2018 killing at the consulate in Istanbul of Saudi journalist Jamal Khashoggi.

By Jack Dutton

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

After reelection, can Erdogan tackle Turkey's economic woes?

In a bid to restore investor confidence in Turkey, Erdogan is reportedly seeking to convince Mehmet Simsek, a well-respected former minister, to return to the helm of the economy.

Turkey

Karim Benzema to leave Real Madrid for Saudi Arabia's Pro League

Reports emerged this week that the 35-year-old French striker was offered a two-year contract worth €400 million to move to the Saudi Pro League's Al Ittihad.

Saudi Arabia

Telecom Egypt sale foreshadows Cairo's uncertain privatization path

The sale came as authorities in Cairo move to reduce the state’s footprint on the economy, give more space to the private sector, and secure liquidity to improve the state’s precarious financial position.

Marc Español

Drought threatens Morocco's bread basket economy: World Bank

Last year, the Maghreb experienced one of its worst droughts in decade, causing a 60% decline in Moroccan cereal production.

Morocco

Israel announces new natural gas field off its coast

The official announcement on the discovery of the Katlan-Orca natural gas field off Israel's coast paves the way for hydrocarbon exploration company Energian to seek development and exploitation permits.

Israel

Turkey, UAE ratify $40 billion trade deal after Erdogan's victory

Abu Dhabi’s ratification of the partnership agreement came three days after President Recep Tayyip Erdogan’s election victory.

Turkey