Dubai supplier to replace coal with natural gas in bid to reduce carbon emissions

The Abu Dhabi National Oil Company signed an agreement to provide Dubai with natural gas, which will be used to generate electricity. Natural gas is a relatively clean fuel but does lead to carbon emissions.

United Arab Emirates

Israel-Gulf trade flourishes in two years of Abraham Accords

Bahrain and the UAE expect that the scope of bilateral trade with Israel will continue to grow significantly in coming years.

Israel

With warming of diplomatic ties, Israel, Turkey expect bilateral trade boom

Now that diplomatic relations have improved, Israel hopes to increase and expand its exportations to Turkey in fields such as water treatment, smart agriculture and energy.

Israel

Egypt to adopt Russian Mir payment system to encourage tourism, trade exchange

Russian tourists and companies will be allowed to pay through the Russian Mir system in Egypt ahead of the winter season, which Cairo is hoping will boost its tourism sector.

Egypt

Saudi GDP quarterly growth rate reaches 10-year high

Saudi Arabia is investing in several sectors in its bid to diversify the economy, but oil remains a major driver of growth.

Saudi Arabia

Despite ‘crypto winter,’ digital currency use remains high in Turkey

Crypto is down, but not out for dedicated traders, particularly in high inflation markets like Turkey, where digital tokens continue to draw users looking to earn, save and transfer hard currencies.

Turkey

Energy, dams boost Egypt’s clout in Africa

Egypt has emerged as a regional energy power in recent years and is using its electricity and gas surpluses and experience in building dams to boost its foothold in Africa.

Egypt

Oil prices fall following Saudi-backed OPEC+ production cut

The decrease in production could be a message from Saudi Arabia to the US over the Iran nuclear deal.

Legacy: Gulf

Turkey’s inflation tops 80% as poverty deepens

Even though Turkey’s economy continued to expand in the second quarter, the share of payments to employees dropped to the lowest level since Erdogan’s party came to power two decades ago.

Turkey

Co-working draws Lebanese amid economic, power crises

Several businesses in Lebanon have started utilizing co-working spaces, allowing them to cope with crises by sharing ideas and skills as well as offices.

Lebanon

More hurdles could delay opening of Egypt’s new administrative capital

The resignations of two executives of the company managing the new administrative capital project in Cairo have raised questions about the project and its feasibility in light of the deteriorating economic situation in the country.

Egypt

Is dollarization best option for Lebanon’s collapsing economy?

In light of the continued collapse of the Lebanese currency, some are suggesting that the dollarization of the economy may be the best option to revive the country’s financial system.

Lebanon