Interview Saudi labor localization will take ‘generation or two': Armada CEO Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades. Olivier Badard CEO of Armada Holding
Analysis Why the Hormuz oil shock never became an energy catastrophe The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Oil falls below $74 as Hormuz traffic recovers after Iran war Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close. Iran
Explainer Lebanon advances controversial $500K golden visa law: What to know While its supporters say the scheme would help Lebanon's economy recover, critics say it could offer a channel for corruption. Lebanon
Interview US-Egypt fund makes case for economic statecraft in hard power era Cornelius Queen Senior Vice President of the Egyptian-American Enterprise Fund
Analysis US-Iran deal delivers $300 billion controversy, reconstruction questions By Samuel Wendel In Washington, DC, reporting on regional business and tech
Turkish inflation creeps higher as Central Bank pressed to act Turkey’s annual inflation hit 14.03% in November, well above forecasts, raising pressure on the nation’s new Central Bank governor to impose tight monetary policies. Turkey
Cash-strapped Turkey relies on Qatari investments In only five years, Qatar has come to account for 15% of all foreign direct investments in Turkey, second only to deep-rooted Dutch investors. Turkey
Will reopening of border crossing drive Saudi investment in Iraq? Iraq and Saudi Arabia are opening the Arar border crossing, a move that should boost Saudi investment in Iraq. Saudi Arabia
Lebanon’s PM struggles to form Cabinet amid economic crisis Lebanon’s political elite have yet to form a government despite the urgency as the country slides further into economic collapse. Lebanon
Under new leadership, Turkish Central Bank delivers largest rate hike in two years Following a shakeup in Turkey’s economy team, Central Bank policy-makers raised a key interest rate to 15% Thursday, pledging to fight high inflation and bolster the nation’s troubled economy. Turkey
Iraq-Saudi border crossing reopens after 30 years The Arar crossing has remained closed since Iraq's invasion of Kuwait. Saudi Arabia
Iraq increases deficit to pay salaries The Iraqi parliament voted on the funding deficit law so that it can borrow to pay salaries that have been in arrears for more than two months. Iraq
Poverty spikes in Iran as prices for essential goods rise Inflation in Iran continues unabated, forcing further economic pressure and poverty on low-income households. Iran
Emirates reports massive drop in revenue in 2020 The Dubai-based airline's revenues fell billions and it is relying on reserves and support from the government to continue flying. United Arab Emirates
Qatar Airways resumes flights to Algiers The Doha-based airline is also increasing the number of its weekly flights to New York and Chicago. Qatar
Turkish lira makes gains on renewed optimism After hitting a series of record lows, Turkey’s currency rebounded more 7% this week as investors expect sharp policy reversals by the nation’s newly appointed economy team. Turkey
International financial alliance forms to help Iraq Several countries are forming an economic alliance to help Iraq in its financial crisis. Iraq
