Lebanon on cusp of network blackout as dispute grows with telecom workers

The Lebanese government has threatened to take over the country’s state-run telecom company with the help of the army as workers continue to strike for a salary increase.

Lebanon

UAE Central Bank revokes license of Russia's MTS Bank as sanctions tighten

The Central Bank of the UAE plans to close the Russian bank’s operations within six months from the date of the decision. 

Legacy: Gulf

UAE, Qatar lead Middle East in 2023 global foreign investment ranking  

The United Arab Emirates sat in the top position among MENA markets and ranked 4th globally.

Legacy: Gulf

The Economic Statecraft of the Gulf Arab States: A book talk with Karen Young

Register now for this in-person event in Washington, DC on Monday, April 3.

Egypt raises interest rates again as inflation continues to creep up

The Central Bank of Egypt’s rate hikes have so far been unable to curb inflation.

Tunisia

China settles first LNG trade in yuan with UAE deal

China has held several discussions with countries in the Middle East and North Africa about conducting trade using its local currency.

Legacy: Gulf

International oil firms stop operations as Iraqi-Kurdish oil dispute continues

A Kurdish official told Al-Monitor that the Kurdistan Regional Government disagrees with an Iraqi government proposal to resolve the issue, as the stoppage of oil exports to Turkey threatens the autonomous region's economy.

Iraq

Saudis joining Shanghai Cooperation Organization as China bromance blossoms

Russia, China and a number of former Soviet states in Central Asia created the SCO in 2001 to counter US hegemony in the region.

Legacy: Gulf

Analysis

North Africa diesel exports to Europe surge as Russia digs deeper into Ukraine

Europe has been looking for alternative sources of oil and gas in light of Western sanctions on Russia over the Ukraine war.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

Is the Middle East ready for its AI breakthrough?

Many Middle East governments see AI as an essential catalyst for growth and diversification, but the region’s aspirations have yet to materialize. This new Pro Trend Report takes a deep dive into the feasibility of regional AI strategies.

UAE’s ‘Second Salary’ savings plan offers its expat majority passive income

The savings plan is the first step in establishing a long-term retirement plan structure by the savings and investment company, amid low rates of retirement savings in the region.

Legacy: Gulf

UAE-Israel ties strengthen further with offer for NewMed Energy

Abu Dhabi National Oil Company and British Petroleum are seeking a 50% stake in the firm. The news follows the activation of the Israel-UAE free trade agreement and another Emirati firm buying a stake in Israel's gas fields.

Legacy: Gulf