Jordan's King Abdullah heads to China in first visit since 2015: What to know Ahead of the visit, King Abdullah said that Jordan hopes to expand cooperation with China in green energy, tourism and aviation. Jordan
Explainer What would BRICS Bank membership mean for Iran's reeling economy? Iran’s Central Bank governor said the country will soon join the New Development Bank as he traveled to India this week for a meeting of the group’s finance leaders. Iran
Explainer UAE-Egypt ties keep growing as Cairo navigates shifting Gulf landscape An Emirati investor could soon strike a $2.7 billion deal to develop another tourism project on Egypt's North Coast, the latest in a string of UAE-linked pacts that have continued advancing despite turmoil from the US-Iran war. Egypt
Analysis Jordan shores up US lifelines as Iran targets Amman’s reliance on Washington Already a leading recipient of US aid, Jordan has secured fresh funds from the United States as the Iran war tests Amman and Washington's partnerships. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How Gulf banks are absorbing Iran war shocks By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Saudi Arabia, UAE lead Forbes’ 2023 Arab family business ranking Although Saudi Arabia and the UAE dominated the list, with 33 and 29 of the top 100 spots respectively, Egypt’s Mansour Group sat in first place, with the UAE’s Al-Futtaim Group in second and Saudi Arabia’s only female-led company, Olayan Financing Company, at third. Saudi Arabia
Saudi Arabia borrowing rate hits new high, posing risk to foreign investments The Saudi Arabian Interbank Offered Rate climbed above an average of 6% in July, which was higher than the rate during the 2008 global financial crisis. Saudi Arabia
Japan’s Nomura subsidiary receives crypto license in UAE The crypto sector is booming in the United Arab Emirates thanks to clear regulations on virtual assets. Legacy: Gulf
Lebanon's scorned central bank chief Riad Salameh steps down Salameh is under investigation in both Lebanon and Europe for financial crimes as Lebanon’s economic crisis continues. Lebanon
Gulf central banks raise interest rates after US Federal Reserve decision Gulf central banks also held firm in June when the Fed paused its rate hikes. Legacy: Gulf
Morgan Stanley lowers Israel’s sovereign credit as Moody's issues warning Protests are mounting over the controversial judicial reforms, and the leading credit agency downgraded Israel earlier this year. Israel
Kuwait prohibits all cryptocurrency use in new virtual assets ban Users of cryptocurrencies and other virtual assets in Kuwait would be subject to Kuwait’s 2013 money laundering and terrorist financing laws. Kuwait
Turkey’s Central Bank hikes interest rates to 17.5% The 250 basis point rise was lower than analysts' expectations, many of whom advocate for a steeper hike. Turkey
Lebanon’s Riad Salameh interrogated, assets frozen as citizens raid banks The judicial proceedings against central bank governor come against the background of a worsening economic and political crisis, and as his term is set to expire next month. Lebanon
Turkish lira hits record low, losing 2% amid concerns of smaller rate increase As of 4:15 p.m. Istanbul time, the lira was trading at 26.99 against the dollar, 2.4% less than Monday’s close of 26.3505. Turkey
Kuwait's new sovereign wealth fund Ciyada to boost foreign investment The Gulf country already has the Kuwait Investment Authority with assets of about $803 billion, making it the fifth-largest sovereign wealth fund globally. Legacy: Gulf
UAE suspends Emirates Gold over money laundering allegations The London Bullion Market Association, which regulates the United Kingdom capital’s metals market, suspended Emirates Gold DMCC’s affiliate membership after conducting a review. United Arab Emirates
