Egypt explores production of green fuels for ships

Egypt plans to cooperate with the Maersk global shipping group to establish a national network to produce and distribute green fuel for ships, depending on new and renewable energy sources, as the country gears up to host the COP27 climate summit.

Egypt

Palestinian economy falters despite pandemic recovery

Despite the end of the coronavirus pandemic, an improvement in the Palestinian economy does not seem very likely given other factors.

Palestine

Natural gas profits finally put Israel's wealth fund into business

After four disappointing years, Israel’s wealth fund, based on tax revenues from natural gas companies, has enough money to begin making investments.

Israel

Halt of Mir use deals blow to rising Putin-Erdogan cooperation

The specter of Western sanctions could curb other economic activities between Turkey and Russia as the surging bilateral trade comes under growing scrutiny.

Turkey

In shock move, Turkey cuts interest rates again

Inflation is historically high in Turkey, but President Erdogan continues to defy economic wisdom as the country's central bank slashed policy rates further.

Turkey

Palestinian businessman seeks self-funded projects to support Gaza economy

An agreement of $1 million was signed to restore industrial facilities that were destroyed in the May 2021 war on Gaza, which came as a glimmer of hope for the stricken industrial city.

Palestine

Gulf banks raise interest rates, following US Federal Reserve

Gulf states often follow the American central bank in their interest rate decisions.

Legacy: Gulf

Saudi esports success depends on local businesses, say industry players 

After Saudi Arabia released its esports strategy last week, members of the region’s local gaming industry say community players, developers and startups are key to actualizing the plan’s ambitious goals.

Legacy: Gulf

Egyptian coal factory shuts down in lead-up to COP27

El-Nasr Company for Coke and Chemicals was liquidated recently, less than a year after another industry and steel company was closed down, as the Egyptian government seeks to abandon coal in its factories and rely more on clean energy.

Egypt

NEOM’s ambitious concept-to-project transition presents funding, feasibility challenges 

Robert Mogielnicki

Egypt invests Suez Canal revenues in three yacht ports

President Abdel Fattah al-Sisi announced that three yacht ports will be established from the revenues of the Suez Canal, in a bid to stimulate tourism to support the national economy.

Egypt

Lebanese fear more hardships after fuel subsidies are lifted

The Lebanese are expecting higher gasoline prices in light of the central bank’s decision to lift subsidies amid market chaos, dollar exchange fluctuations and devaluation of salaries in the Lebanese pound.

Lebanon