Iraq connects electrical grid with Saudi Arabia

The move could help Iraq with its electricity woes and reduce energy dependence on Iran.

Iraq

Analysis

Turkey ‘highly vulnerable’ to liquidity pinch, says leading credit agency

Turkey, Tunisia and other countries in the Middle East could face liquidity challenges amid rising interest rates worldwide.

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

Israel raises interest rates, following Gulf, US

Inflation is rising throughout the Middle East and many countries' central banks are raising interest rates in response.

Legacy: Gulf

UAE bans exports of India-sourced wheat, restricts others

The Ministry of Economy said the decision was motivated by global supply chain disruptions as well as the recent trade agreement between the UAE and India.

Legacy: Gulf

Tunisians watch prices of most consumer goods soar

Tunisians have seen their purchasing power plummet in recent days, amid a market shortage of basic goods, soaring prices of most consumer goods and warnings of possible nationwide protests.

Tunisia

Dubai real estate transactions hit 13-year high

The American commercial real estate firm CBRE released a lengthy report on the Emirati city’s real estate market.

Legacy: Gulf

Egypt revokes ration cards of half-million citizens

The ration cards of hundreds of thousands of Egyptians have been revoked to lighten the state's subsidy bill in response to the International Monetary Fund conditions and the rising cost of wheat imports.

Egypt

UAE-Turkey economic relations continue to tighten with pharma deal

The Emirati investment firm ADQ has acquired Birgi Mefar Group.

Turkey

Iran and Iraq sign tourism deal

The agreement follows protests of Iranian “interference” after a drone attack targeted an alleged Israeli spy base in northern Iraq.

Iran

Syrian farmers get much-needed support to confront wheat crisis

Several organizations in northern Syria have launched programs to support farmers amid new concerns over flour and wheat supplies in the war-torn country.

Syria

Turkey’s growing current account gap exacerbates lira weakness

A widening current account deficit, coupled with $181 billion in short-term external debt liabilities and plunging foreign investments, portend further currency woes for Turkey.

Turkey

Maritime dispute with Lebanon threatens Israeli natural gas drilling

Israel hopes that a solution can be found to the maritime border dispute with Lebanon so Energean can start drilling in the Karish field in the third quarter of 2022.

Israel