Lebanon seeks alternative wheat sources, bans some food exports amid war in Ukraine

Ukraine and Russia provide several Middle Eastern states with wheat, sunflower oil and more.

Lebanon

Analysis

Saudi Central Bank extends guaranteed financing program for small businesses

The program encourages Saudi banks to loan to small businesses by guaranteeing a portion of the funds, and was launched in response to the coronavirus-related economic downturn in Saudi Arabia.

By AL-MONITOR Staff

UAE sticks to OPEC+ production limits

The Biden administration is asking Gulf partners to increase production in response to rising oil prices, but so far the cartel is holding to its earlier agreement.

United Arab Emirates

Dizzying fuel hikes fan popular grievances in Turkey

With Turkey’s consumer inflation already at 54.4%, price increases on fuel alone threaten to add two percentage points to the monthly inflation rate in March.

Turkey

Israel unhappy over unregulated cryptocurrency trade

Israeli authorities are demanding the international crypto stock-exchange Binance to explain unregulated digital currency trade in the country.

Israel

Breaking | Last Updated: March 9, 2022, 6:16 pm

Oil price dips as UAE endorses increased production

Global oil prices have skyrocketed due to the Russian invasion of Ukraine.

United Arab Emirates

Saudi-US business forum to focus on defense, artificial intelligence

Saudi Arabia is looking to diversify its economy, but some in the United States want less cooperation with the Gulf state due to human rights concerns.

By AL-MONITOR Staff

Can Turkey benefit from Europe’s quest to reduce Russian gas?

Europe’s efforts to phase down gas imports from Russia might place Turkey at the center of routes for alternative supplies from Azerbaijan and Israel.

Turkey

Fourth offshore drilling ship for Turkey en route from South Korea

The advanced vessel will join Turkey’s three others in conducting energy exploration in the Mediterranean and Black seas.

Turkey

Egypt to have eight months of wheat reserves, says minister

The Russian invasion of Ukraine is threatening wheat supplies across the Middle East.

By AL-MONITOR Staff

Saudi, Emirati oil prices reach record highs

The Russian invasion of Ukraine has led to historically high oil prices.

By AL-MONITOR Staff

How Ukraine crisis undermines Turkey's economic program

Ankara’s economic program has hit a deadlock under the impact of Russia’s invasion of Ukraine, marked by a stream of fuel hikes, canceled tourism bookings and textile orders, and shortage fears in the food sector.

Turkey