Turkey plans to expand renewable energy but sticks to coal, nuclear

Clean energy advocates say Turkey should speed up its shift to renewable sources not only out of environmental concerns, but also to reduce its costly reliance on imported energy.

Turkey

Saudi Arabia’s ambitions loom large over UAE’s business expat community 

Pro: Saudi Arabia is trying to pry multinationals away from the UAE's financial hubs, forcing business expats in the Gulf to make a difficult decision.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Qatar stays put after US, Saudi Arabia, UAE raise interest rates

The Gulf central banks’ moves followed the US Federal Reserve raising its rates. Inflation increased in both Qatar and Saudi Arabia at the end of 2022.

Legacy: Gulf

Explainer: What is behind Lebanon's new exchange rate?

There are multiple exchange rates between the Lebanese pound and the US dollar, and the official rate being below the black market rate helps financial institutions pass on their losses to the public.

Lebanon

Signaling US, OPEC+ agrees to keep oil production unchanged

Experts say the decision by Saudi Arabia, Russia and other major oil producers could be motivated by a desire to maintain calm with the United States.

Legacy: Gulf

OPEC+ likely to maintain oil output at meeting, in gesture to US

While the OPEC+ group is expected to maintain oil production at its virtual meeting set for Feb. 1, global demand for oil is estimated to reach a record high in 2023.

Legacy: Gulf

Saudi GDP grows 8.7% in 2022 due to oil, non-oil growth

One credit-rating agency said Saudi Arabia’s GDP growth will slow down in 2023.

Legacy: Gulf

Analysis

Gulf logistics ambitions skirt net-zero carbon emissions goals

The Gulf states are expanding their transportation networks and logistics hubs, which would seem to threaten their stated goals reducing carbon emissions.

By Sebastian Castelier

In Dubai, reporting on regional business

Pound devaluation, IMF deal send Egypt’s stock market soaring

PRO: Egypt's stock market has started 2023 as one of the world’s best-performing exchanges. Here's what it will take to maintain that momentum.

Marc Español

Qatar's energy giant cements Lebanon deal, substituting Russia

The Qatari firm officially took over the stake previously held by a Russian company.

Legacy: Gulf

Iran, Russia sign bank messaging agreement to override SWIFT

Both countries are banned from the SWIFT financial messaging system due to US and European sanctions.

Iran

In Egypt, economic heat of Russia's war in Ukraine is only getting worse

Average Egyptians told Al-Monitor that everything from the price of tomatoes to bread is taking a toll on daily life and household decisions as country's economy reels under the heavy toll of the war in Ukraine.

Egypt