Turkey’s annual inflation slows down to 9-month low of 61%

The drop in the second consecutive month was slightly more than the estimates.

Turkey

Saudi PIF signs deals worth up to $50B with six Chinese institutions

As one of the world’s largest sovereign wealth funds, the $925 billion Saudi PIF is already heavily invested in China.

Saudi Arabia

Saudi Arabia's SABIC sees second quarter profit rise by 85% to $580M

The company's results are encouraging news for the petrochemicals sector, which has been weathering a downturn since the COVID-19 pandemic.

Saudi Arabia

US election drama raises stakes for Mideast economic powers eyeing 2025

Shekel drops 1.2% as United Airlines, Delta halt Israel flights after Haniyeh's killing

The currency fell by 1.2% after Hamas blamed Israel for the strike in the Iranian capital of Tehran, Bloomberg reported.

Israel

Growing Gulf-Turkey investment ties evolving unevenly following Erdogan’s $50B breakthrough

Samuel Wendel

In Washington, DC, reporting on regional business and tech

IMF greenlights release of $820M to Egypt, cites economic improvement

The Washington-based fund said in a statement that the decision was a result of the third review of Egypt’s 46-month Extended Fund Facility arrangement that was approved on Dec. 16, 2022.

Egypt

UK’s new government reboots trade talks with Gulf, Israel, Turkey

New British Prime Minister Keir Starmer has made economic growth a priority of his Labour government and has pledged to make the UK the fastest-growing economy in the G20.

Saudi Arabia

Gulf investment in UK real estate to hit $4B annually, says BLME

Research predicts that demographic trends and supply shortages will make the UK's real estate sector a more popular option for investors in the future.

Saudi Arabia

Analysis

What's behind China carmakers' foray into Turkey following BYD deal?

As a growing number of Chinese carmakers have shown interest in investing in Turkey, Turkish companies in the sector are positioning themselves amid the Chinese foray.

By Mustafa Sonmez

In Istanbul, reporting on economics

China’s Baosteel ups investment in Saudi steel plate venture to $1B

A subsidiary of the world’s largest steelmaker, China Baeowu Steel Group, will have a 50% stake in a major new Saudi-based venture.

Saudi Arabia

Turkey returns $5B deposit to Saudi Arabia amid economic recovery

The Saudi Fund for Development decided to hold the funds in the Turkish Central Bank in March 2023 after ministerial meetings the previous year — the deposit helped Turkey firm up its weakened currency, the lira.

Turkey