Egypt to adopt Russian Mir payment system to encourage tourism, trade exchange

Russian tourists and companies will be allowed to pay through the Russian Mir system in Egypt ahead of the winter season, which Cairo is hoping will boost its tourism sector.

Egypt

Saudi GDP quarterly growth rate reaches 10-year high

Saudi Arabia is investing in several sectors in its bid to diversify the economy, but oil remains a major driver of growth.

Saudi Arabia

Despite ‘crypto winter,’ digital currency use remains high in Turkey

Crypto is down, but not out for dedicated traders, particularly in high inflation markets like Turkey, where digital tokens continue to draw users looking to earn, save and transfer hard currencies.

Turkey

Energy, dams boost Egypt’s clout in Africa

Egypt has emerged as a regional energy power in recent years and is using its electricity and gas surpluses and experience in building dams to boost its foothold in Africa.

Egypt

Oil prices fall following Saudi-backed OPEC+ production cut

The decrease in production could be a message from Saudi Arabia to the US over the Iran nuclear deal.

Legacy: Gulf

Turkey’s inflation tops 80% as poverty deepens

Even though Turkey’s economy continued to expand in the second quarter, the share of payments to employees dropped to the lowest level since Erdogan’s party came to power two decades ago.

Turkey

Co-working draws Lebanese amid economic, power crises

Several businesses in Lebanon have started utilizing co-working spaces, allowing them to cope with crises by sharing ideas and skills as well as offices.

Lebanon

More hurdles could delay opening of Egypt’s new administrative capital

The resignations of two executives of the company managing the new administrative capital project in Cairo have raised questions about the project and its feasibility in light of the deteriorating economic situation in the country.

Egypt

Is dollarization best option for Lebanon’s collapsing economy?

In light of the continued collapse of the Lebanese currency, some are suggesting that the dollarization of the economy may be the best option to revive the country’s financial system.

Lebanon

Oman’s economy surges with higher oil prices, fiscal reform

The Omani economy is benefiting from both higher oil and gas revenues and the country’s fiscal policies and discipline.

By Hassan Jivraj

Israeli settlement intended for ultra-Orthodox draws new residents

After years of failure to attract ultra-Orthodox residents, the West Bank settlement of Emmanuel is starting to interest middle-class families.

Israel

Long-term transport growth bodes well for Middle East airlines, airports as competition intensifies

Afshin Molavi