Egypt looks to India as alternative wheat source to Ukraine

Final talks are being held to send Indian wheat to Egypt, after Russia's invasion of Ukraine disrupted the global supply.

Egypt

Israel’s first digital bank opens for business

Newly authorized by the Bank of Israel, the country’s new digital bank One Zero is taking on several hundred customers each week and 75,000 more people interested in the new platform.

Israel

Oman to allow foreign ownership for companies on Muscat stock exchange

The move will help Oman diversify its economy away from dependency on oil. The country has recently sought investment from its neighbors in the Gulf.

Oman

Syrians resort to herbal medicine amid drug crisis

The deteriorating living conditions in northwestern Syria and the expensive medical consultations and medicines have prompted Syrian patients to resort to herbal medicine to treat their diseases.

Syria

Russian invasion of Ukraine has sharp impact on Iraq's economy

Russia's invasion of Ukraine has caused shortages of food in Iraq and forced the government to pay more in gasoline subsidies, but the high price of crude oil plus sanctions on Russia has opened new opportunities for Iraq.

Iraq

Saudi Arabia announces $600 million in new investment from startups, venture capitalist

Foreign direct investment in Saudi Arabia slowed later in 2021 after a promising start, and some entities are reluctant to invest there due to the human rights situation.

Saudi Arabia

OPEC remains committed to oil production agreement with Russia

The Biden administration has been unable to get Gulf states to increase oil production to bring down prices and some European states are seeking alternatives to Russian natural gas.

Legacy: Gulf

Oman's fiscal outlook improves as oil prices surge

Efforts to put public finances on a healthy footing and tackle chronic budget deficits have started to pay off, facilitated by a sharp increase in oil prices, Oman’s main export.

Legacy: Gulf

First women-run dairy factory opens in Gaza's Rafah

Women who are the sole breadwinners of their families are working in the newly-opened women-only dairy factory in Rafah, in the south of the Gaza Strip.

Palestine

War in Ukraine pushes Egypt to ramp up wheat production

The Egyptian government is working to increase local wheat production to reach self-sufficiency, after the Russian war on Ukraine added many challenges to secure the country's needs for food security.

Egypt

Bank of Israel may raise interest rates soon

Media reports indicate that Israel’s central bank will soon raise rates to counter rising inflation.

Israel

Saudi Arabia resumes visa on arrival for US, EU visa holders

The kingdom greatly relaxed its visa rules before the pandemic in an effort to boost tourism.

Saudi Arabia