Syria to rejoin Arab group at IMF, leaving Russian-led constituency Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD. Syria
Erdogan aide named suspect in Turkey financial scandal Former AKP deputy chairwoman Fatma Betul Sayan Kaya is facing allegations of being linked to a market manipulation scandal. Turkey
Analysis Turkey’s $20B fund crisis: Who profited, and who will pay? Opposition parties are demanding immediate government compensation for affected investors, who face up to a six-month wait as independent banks oversee the asset liquidations. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Iran’s rial hits record low as pressure on oil exports mounts The rial was trading at more than 2.5 million to the dollar in Tehran's open market on Tuesday. Iran
Mideast merger and acquisition activity hits $36B in 2024 led by UAE, Saudi Arabia For the first 10 months of the year, merger and acquisition deals in the region reached $36 billion, up by 88% from a year earlier, a Bain & Company report said. Saudi Arabia
Saudi Public Investment Fund takes 15% stake in London's Heathrow Airport Spanish construction giant Ferrovial said it had closed the sale of a 19.75% stake in the UK capital’s busiest airport for 2 billion euros ($2.1 billion) to the PIF and French investment firm Ardian. Saudi Arabia
Syria's interim PM warns foreign currency shortage could hinder refugee return Nearly 14 years of civil war, international sanctions and the exodus of 4.82 million Syrians have crippled the economy, resulting in a sharp decline of the Syrian pound. Syria
Bpifrance, Saudi PIF sign $10B financing agreement The five-year agreement will increase collaboration between PIF and Bpifrance Assurance Export, focusing on projects to support Vision 2030, Saudi Arabia’s plan to diversify the economy away from reliance on oil. Saudi Arabia
France's Macron eyes defense deals, Lebanon support on Saudi state visit French President Emmanuel Macron will meet Saudi Crown Prince Mohammed bin Salman for a one-on-one dinner on Tuesday. Saudi Arabia
Turkey launches counterfeit US dollar probe as exchange offices halt trade The Banking Association of Turkey said currency counting machines, counterfeit currency detection devices as well as ATMs were being updated against circulation of counterfeit banknotes. Turkey
China embraces debt listings to tap into Gulf’s pool of wealth As UAE stock markets hit $1 trillion in market capitalization for the first time last week, an increasing number of Chinese entities are choosing to list some of their debt on Gulf capital markets. By Sebastian Castelier In Dubai, reporting on regional business
Barclays fined $50M for failing to disclose 2008 Qatari funding The UK-headquartered bank will pay a fine of 40 million pounds to British regulators for failing to disclose information of its rescue by Qatar during the 2008 financial crisis. Qatar
Egypt to launch first IPO in three years amid IMF-fueled privatization drive The move comes amid a privatization drive in Egypt as part of the International Monetary Fund’s conditions to provide Cairo with an $8 billion bailout to help the North African country recover from an economic crisis. Egypt
BlackRock gets nod to establish Abu Dhabi office after Saudi HQ plans set BlackRock, which manages around $11.5 trillion in assets, announced last month that it had obtained a license from the Saudi authorities to open a regional headquarters in Riyadh. United Arab Emirates
Iran, Russia link payment networks in bid to bypass sanctions The financial partnership connects the national payment frameworks, aiming to boost trade and tourism between the two sanctioned nations — yet key challenges remain. Iran
Analysis As Saied begins new term as president, Tunisians brace for unstable governance In a second presidential term, Tunisia’s increasingly autocratic ruler is unlikely to secure the political and economic stability the country craves. By Francisco Serrano In Lisbon, reporting on North Africa business
