Lebanese turn to cryptocurrency as economy tanks

Lebanon is bursting with crypto mining shops, traders and online mentors to fulfill the surging demand from people desperately looking to gain financial freedom and much-needed US dollars.

Lebanon

Turkish tourism sector scrambles to minimize fallout of Ukraine war

Bracing for a big loss of Russian and Ukrainian holidaymakers this summer, Turkey’s tourism industry is looking for replacements in Europe and the Middle East. But few are hopeful that the gap can be closed.

Turkey

Egypt raises interest rates for first time since 2017

Inflation and bread prices have risen significantly in Egypt recently, and Saudi Arabia and Qatar have also raised their rates.

Egypt

Analysis

'Hot money' singes Egypt’s economy

Although capital outflows are no surprise, devaluation looks imminent to mitigate pressure on the pound.

By Ahmed Elleithy

UAE continues to grow influence in Africa with Zimbabwe trade

The Emirates has expanded its presence on the African continent in recent years via infrastructure investments, military bases and more.

United Arab Emirates

Turkish minister’s pledge to foreign investors causes uproar at home

As foreign investments decline, Nureddin Nebati's promise to "take the bureaucracy down" raises concerns at home and abroad about evading the rule of law.

Turkey

Fitch downgrades Tunisia’s debt rating

The assessment from the leading credit agency is based on the Tunisian government’s high deficit and the political instability brought on by the president power grab last year, among other things.

Tunisia

Jihadi group raises prices in Syria’s Idlib as war rages in Ukraine

While some believe the Russian war on Ukraine has upped prices in northwest Syria, others accuse Hayat Tahrir al-Sham of exploiting the crisis to make gains.

Syria

UK loans $2.3 billion to Turkey for high-speed rail line

Turkey and the United Kingdom have gotten closer economically recently, which is in part related to tensions with the European Union.

By AL-MONITOR Staff

Egypt seeks to boost gas exports to Europe as Russia-Ukraine war drags on

Egypt hopes to boost its natural gas exports at a time when European countries are gradually giving up reliance on Russian hydrocarbons, including gas, in the wake of Russia’s invasion of Ukraine.

Egypt

Saudi Arabia, Qatar raise repo rates while Turkey stays put

Central Banks in the Middle East are responding to the US Federal Reserve raising interest rates due to rising inflation.

Saudi Arabia

No magic tap for Europe to replace Russian gas via Turkey

Europe has been looking to Azerbaijan, Israel and other countries to transit gas via Turkey, but assuming political obstacles can be overcome, the massive investments needed will take time to realize.

Turkey