World Bank praises Palestinian easing of COVID rules, criticizes Israeli control

The international financial body recommended several governance reforms for the Palestinian Authority to increase economic growth.

Palestine

UAE, Greece sign $4.2 billion agreement

The UAE and Greece have become close allies in recent years.

United Arab Emirates

Egypt, EU sign development grants worth 138 million euros

The European Union has provided Egypt with numerous grants in recent years, while also criticizing the country on some human rights issues.

Egypt

British company announces new gas discovery off Israeli coast

Israel’s relatively new natural gas supply plays a major role in the country’s relations with its neighbors in the eastern Mediterranean Sea.

Israel

Egyptian scientist creates new rice variety that requires less water

An Egyptian scientist and head of the National Rice Development Project at the Ministry of Agriculture invented a new type of rice that does not need much water, after the Egyptian government announced that the country is suffering from water poverty.

Egypt

International pressure compounds Tunisian economic crisis

There are international and local concerns over the political and economic situation in Tunisia, which is hoping for a deal with the IMF in return for implementing reforms that are rejected by the powerful UGTT labor union.

Tunisia

Abu Dhabi firm to create new shipping terminals, cruise lines for Egypt

Egypt is seeking to increase revenues from its ports as the economy struggles.

Egypt

Explainer: Oman may follow as most Gulf central banks raise rates

Inflation in the Gulf has not been as severe as in other parts of the region.

Saudi Arabia

Turkish inflation jumps from 20% to 70% in just six months

Even if monthly price increases ease to an average of 5% in the coming months, Turkey would face an annual consumer inflation of over 100% in the fall and finish the year with a rate of some 90%.

Turkey

OPEC+ alliance endorses slight increase in oil production

Saudi Arabia, the UAE and other have largely resisted US calls to boost production but settled on a marginal increase today.

Legacy: Gulf

Bulgaria looks to Turkey for help with gas shortage

Russia has cut gas exports to Bulgaria, leaving Sofia looking to Ankara, which has some tough decisions to make.

Turkey

Egypt to store carbon with Italy’s Eni

The Italian energy company is pursuing increased cooperation with Egypt as well as Algeria.

Egypt