In shock move, Turkey cuts interest rates again

Inflation is historically high in Turkey, but President Erdogan continues to defy economic wisdom as the country's central bank slashed policy rates further.

Turkey

Palestinian businessman seeks self-funded projects to support Gaza economy

An agreement of $1 million was signed to restore industrial facilities that were destroyed in the May 2021 war on Gaza, which came as a glimmer of hope for the stricken industrial city.

Palestine

Gulf banks raise interest rates, following US Federal Reserve

Gulf states often follow the American central bank in their interest rate decisions.

Legacy: Gulf

Saudi esports success depends on local businesses, say industry players 

After Saudi Arabia released its esports strategy last week, members of the region’s local gaming industry say community players, developers and startups are key to actualizing the plan’s ambitious goals.

Legacy: Gulf

Egyptian coal factory shuts down in lead-up to COP27

El-Nasr Company for Coke and Chemicals was liquidated recently, less than a year after another industry and steel company was closed down, as the Egyptian government seeks to abandon coal in its factories and rely more on clean energy.

Egypt

NEOM’s ambitious concept-to-project transition presents funding, feasibility challenges 

Robert Mogielnicki

Egypt invests Suez Canal revenues in three yacht ports

President Abdel Fattah al-Sisi announced that three yacht ports will be established from the revenues of the Suez Canal, in a bid to stimulate tourism to support the national economy.

Egypt

Lebanese fear more hardships after fuel subsidies are lifted

The Lebanese are expecting higher gasoline prices in light of the central bank’s decision to lift subsidies amid market chaos, dollar exchange fluctuations and devaluation of salaries in the Lebanese pound.

Lebanon

Food crisis looms over Tunisia

As food grows scarcer in Tunisia, more residents are growing upset at the government's inaction.

North Africa

GCC capital investment linked to global market volatility

Karen Young

In Washington, DC, reporting on regional energy

France’s TotalEnergies sells stake in Iraqi Kurdish oil field

The sale follows the Iraqi federal government pressuring international firms to pull out of the autonomous region, which has led to concern from the US State Department.

Iraq

Erdogan looks to Putin to ease foreign currency woes

An extraordinary uptick in capital flows of unknown origin to Turkey has left many wondering whether Russian money could be involved.

Turkey