Analysis

With Saudi Aramco's $50 billion deal, Turkey seeks less dependency on West

The two major regional powers had grown distant over the years due to Erdogan’s ties to the Muslim Brotherhood and the 2018 killing at the consulate in Istanbul of Saudi journalist Jamal Khashoggi.

By Jack Dutton

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

After reelection, can Erdogan tackle Turkey's economic woes?

In a bid to restore investor confidence in Turkey, Erdogan is reportedly seeking to convince Mehmet Simsek, a well-respected former minister, to return to the helm of the economy.

Turkey

Karim Benzema to leave Real Madrid for Saudi Arabia's Pro League

Reports emerged this week that the 35-year-old French striker was offered a two-year contract worth €400 million to move to the Saudi Pro League's Al Ittihad.

Saudi Arabia

Telecom Egypt sale foreshadows Cairo's uncertain privatization path

The sale came as authorities in Cairo move to reduce the state’s footprint on the economy, give more space to the private sector, and secure liquidity to improve the state’s precarious financial position.

Marc Español

Drought threatens Morocco's bread basket economy: World Bank

Last year, the Maghreb experienced one of its worst droughts in decade, causing a 60% decline in Moroccan cereal production.

Morocco

Israel announces new natural gas field off its coast

The official announcement on the discovery of the Katlan-Orca natural gas field off Israel's coast paves the way for hydrocarbon exploration company Energian to seek development and exploitation permits.

Israel

Turkey, UAE ratify $40 billion trade deal after Erdogan's victory

Abu Dhabi’s ratification of the partnership agreement came three days after President Recep Tayyip Erdogan’s election victory.

Turkey

Qatar Airways first in Mideast to sign Shell deal for 3K tons of sustainable fuel

The airline said that the deal will allow it to reduce emissions on flights from Amsterdam by approximately 7,500 tons of CO2 for the fiscal year.

Qatar

Explainer: Understanding UAE’s first-ever corporate tax

Taxes are increasing across the Gulf, and the UAE is seeking to boost tax compliance as well as cut down on money laundering.

Legacy: Gulf

Morocco’s textile industry rebounds, as demand spikes from Northern Europe

The head of Morocco's textile association said there is growing demand from Northern European buyers for locally made knitwear and corporate apparel.

Morocco

China’s push for trade in yuan has downsides for Gulf states

Paying for the import of Gulf fossil fuels in yuan is at the top of China’s list to lay the foundations for a greater global adoption of its currency.

Sebastian Castelier

In Dubai, reporting on regional business

Turkish lira slips to new low as Erdogan forms economic team

Turkey's currency has dropped again in the wake of President Recep Tayyip Erdogan’s reelection.

Turkey