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
Qatar’s first VC fund of $1B expected to 'fuel startup ecosystem in region' The program has two objectives: to generate market-level commercial returns for Qataris and to develop a “vibrant VC and startup ecosystem” in line with the country's national development strategy. Qatar
UAE dropped from global watchdog’s illicit finance list in quick turnaround The Gulf country was added to the Financial Action Task Force's grey list in March 2022. United Arab Emirates
Turkey to play 'important role' in sukuk market despite paused UAE deal Turkey has been looking to shore up financing to help it rebuild its economy after devastating twin earthquakes in 2023 killed more than 53,000 people and cost the country north of $50 billion. Turkey
Israel to reward new immigrants for settling in periphery, West Bank Israel's Immigration and Finance Ministries unveiled a new scheme offering economic incentives for immigrants who settle in peripheral northern or southern communities or in the occupied West Bank. Israel
Why Iraq's dinar is trading below official dollar rate amid new restrictions A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq’s financial system. Iraq
Davos 2024: Inside Investcorp’s plan to build China-Gulf 'investment bridge' In an interview with Al-Monitor, co-CEO Hazem Ben-Gacem said there is a big push for infrastructure funding in the Asia-Pacific region, controlled buyouts in Japan and growth investments in India and China. Bahrain
EU sanctions Hamas' Yahya Sinwar and Somalia's al-Shabab top leader The European Union Council announced Tuesday it was taking restrictive financial measures against the Gaza-based group’s leader, Yahya Sinwar. Israel
Saudi PIF invested $31.6B in 2023, record in global sovereign wealth funds The PIF is estimated to have nearly $800 billion in assets and wants to become the world’s largest sovereign wealth fund by 2030. Saudi Arabia
Analysis Israeli FM rejects France’s call for cease-fire as 'gift for Hamas' While rejecting the call by French Foreign Minister Catherine Colonna for an immediate cease-fire in Gaza, Israeli Foreign Minister Eli Cohen said the two countries are working together to de-escalate tensions on the Lebanon border. By Rina Bassist In Paris, reporting on Israeli politics and European affairs
How France is targeting Hamas financing Representatives of 20 countries gathered in Paris to formulate a plan against the financing of Hamas and expand sanctions against its members. Israel
Bahrain's Investcorp buys 50% of Corsair's $4.8B infrastructure business The new entity, Investcorp Corsair, will continue to grow with a particular focus on transportation, logistics and related subsectors, a statement from the two companies said. Bahrain
France, Germany, Italy push for EU sanctions against Hamas leaders In a letter to the European Union Foreign Affairs chief Josep Borrell, the foreign ministers of the three countries stress they would like to see more Hamas leaders sanctioned. Israel
