Iran's startups will continue to face pressure from hardline agenda

The security establishment has recently targeted entrepreneurs and entities in the country's startup ecosystem — but how far are Iran's hardliners prepared to go and what will be the reaction of constituents?

Bijan Khajehpour

In Vienna, reporting on Iranian politics

Egypt to drill 35 gas wells by 2025 as BP invests

The energy giant pledged $3.5 billion in investment into gas exploration in Egypt over the next three years.

Egypt

Saudi Arabia’s foreign reserves shrink by $16B in July amid oil cuts

The kingdom’s net foreign assets declined to 1.53 trillion riyals ($407 billion), according to the central bank’s monthly report published on Monday.

Saudi Arabia

Saudi Arabia’s ADES to launch IPO

ADES rebooted its plans for an initial public offering, having delayed it earlier in the year after the kingdom’s stock exchange experienced difficulties.

Legacy: Gulf

Turkey, Saudi Arabia ink critical mineral cooperation deal

Green energy investments will have an important share in cooperation between Turkey and Saudi Arabia, said the Turkish energy minister.

Turkey

Will BRICS throw a lifeline to dollar-strapped Egypt?

Economists believe BRICS membership will give Egypt a chance to ease pressure on the dollar, but is not a quick remedy for the country’s economic woes

Egypt

Drought puts Morocco’s water infrastructure projects into overdrive

Morocco’s budget for water infrastructure is rising as desalination and dam projects advance amid droughts and increasing international partnerships.

North Africa

Analysis

Tadawul posts losses but Saudi markets remain fundamentally strong 

'A bit of a correction' sheds some prior gains on the Saudi stock index, but professionals see reasons to keep investing in the kingdom.

By Harry Clynch

In London, reporting on Middle East economics

Turkey ends lira protection scheme as banks tally up damage

With Turkey’s inflation on course to hit 70% by the year-end, the plan to convince depositors to shift to regular deposits with yields well below the inflation rate appears unviable.

Turkey

Saudi Arabia’s soccer spending spree reshapes Middle East sports sector

The kingdom is gunning to become a professional sports powerhouse.

Lebanon’s acting central bank chief pleads for reform as crisis continues

Wassim Mansouri has been urgently calling on the Lebanese government to enact reforms since becoming acting governor of Banque du Liban following the end of the embattled Riad Salameh’s term.

Lebanon

Saudi Arabia mulls Chinese bid to build nuclear plant

The news will irk Washington, which wants Riyadh to not be able to develop nuclear weapons.

Saudi Arabia