Economy and trade

Jordan further eases restrictions after continued success against virus

Jordan has had relatively few confirmed COVID-19 cases.

Jordan

Egyptians returning from the Gulf face uncertain economic future

While studies expect an economic catastrophe in Egypt due to the coronavirus-related recession of the Gulf economy and the resulting demobilization of thousands of Egyptians working abroad, some observers believe that the return of Egyptian workers will develop an efficient Egyptian labor market.

Legacy: Gulf

Turkey to reopen border crossings with Iran, Iraq

By opening two border crossings with Iran and Iraq, Turkey is seeking to boost the economy, and many businesses resume operations in the country this week.

Iraq

Iran turns to bonds to solve budget crisis

Tehran has chosen to issue domestic bonds to address its expected budget deficit, a policy that promises to have complex impacts on Iran's economy.

Iran

Kurdish authorities in Iraq lift lockdown following protests

The reimposed lockdown came amid an increase in COVID-19 cases, but people protested the lack of work opportunities due to the restrictions.

Iraqi-Kurdistan

Poverty could double in the West Bank as coronavirus takes toll, World Bank warns

The bank estimates the percentage of poor households in the West Bank will increase from 14% to 30% in 2020.

Palestine

Oman’s public sector reform risks brain drain

By letting go of thousands of foreign experts, Oman risks losing the know-how central to achieving economic diversification.

Oman

In latest spending cut, Oman not renewing majority of foreign consultant contracts

Contracts will not be renewed for at least 70% of foreign experts and consultants working for the Omani government.

Oman

Lebanon’s economic crisis is decimating its middle class

The middle class in cash-strapped Lebanon is having a hard time making ends meet as salaries have been slashed and banks are imposing informal capital control, all compounded by the coronavirus-induced lockdown measures.

Lebanon

Report: Etihad Airways faces debt restructuring or possible legal action

The owners of the Emirati airline's debt submitted a restructuring proposal and are waiting to hear back.

United Arab Emirates

Syrian government freezes assets of Assad cousin

The move to seize the assets of the businessman is the latest in a dispute that began to heat up late last year.

Syria

COVID-19 ravages Turkey’s vital clothing, textile industry

Turkey’s clothing and textile sector, a vital source of employment and revenues, has become the worst-hit industrial branch in the coronavirus crisis, taking both domestic and external blows.

Turkey