Turkey’s Central Bank hikes interest rates to 35%

The bank cited geopolitical risks for the move along with a larger than expected increase in inflation in the third quarter.

Turkey

Israel-Hamas war poised to inflame Middle East arms race, pressure security partnerships

As the Middle East descends into a new phase of conflict and confrontation, regional states look poised to significantly boost military spending and procurement.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Israel credit outlook lowered, budget to be amended amid Hamas war

Israel’s credit rating was in trouble before the war in Gaza due to the government’s controversial judicial reform plans, and the war is affecting the country's fiscal situation.

Israel

Saudi Aramco, South Korea's Hyundai sign $2.4B contract to develop gas field

The contract was signed during South Korean President Yoon Suk Yeol’s visit to Saudi Arabia.

Saudi Arabia

Bank of Israel leaves interest rates unchanged, citing Hamas war

Israel's central bank is concerned with the prospect of an extended war in the Gaza Strip and the depreciation of the shekel.

Israel

Analysis

Could Israel-Hamas war lead to another winter energy crisis for Europe?

LNG spot prices have shot up since the Israel-Hamas conflict broke out, but European inventories are at all-time highs.

By Jack Dutton

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

Oil prices on rise amid Israel-Hamas war, Iran embargo call

Oil prices have risen to an extent following the start of the Israel-Hamas war, but further gains may be dependent on how the conflict plays out.

Israel

Morocco-UK Xlinks undersea power cable to generate 'real value': Octopus Energy

Octopus Energy CEO Greg Jackson said that it would help Morocco fight climate change.

Morocco

COP28 could allow oil industry to form coalition to cut emissions: TotalEnergies

TotalEnergies CEO and chairman Patrick Pouyanne said that national oil companies as well as public and private ones must join the group.

United Arab Emirates

Morocco earthquake reconstruction to test government’s speed of execution

The speed and depth of Morocco's $11.7 billion reconstruction following the massive earthquake last month will have a huge impact on the economy and budget over the coming years.

Francisco Serrano

In Lisbon, reporting on North Africa business

Israeli gas continues to flow despite Gaza conflict, but risks remain

A prolonged war might mean less exported gas to Egypt, and in turn less supply for Europe.

Israel

Renewable energy industry not ready to shoulder global demand, Aramco says

The boss of the world's largest oil company doubled down on investing more in oil and gas, despite Greta Thunberg and other climate activists protesting outside the conference he was speaking at in London.

Saudi Arabia