Foreign investors buy $179m in Turkey's stocks amid Erdogan's economic reset

Foreign investors bought $179 million in local equities last week, an eighth straight week of inflows, according to the latest data from the Turkish Central Bank.

Turkey

Turkey’s annual inflation hits nearly 50% in July

The spike marks the end of an eight-month downtrend in annual consumer prices as Turkey grapples with one of its worst cost-of-living crises.

Turkey

Eni ends 9-year force majeure status for Libyan gas exploration sites

Eni is Libya’s largest gas producer and domestic market supplier with an 80% share of national production.

Libya

Saudi Arabia, UAE lead Forbes’ 2023 Arab family business ranking

Although Saudi Arabia and the UAE dominated the list, with 33 and 29 of the top 100 spots respectively, Egypt’s Mansour Group sat in first place, with the UAE’s Al-Futtaim Group in second and Saudi Arabia’s only female-led company, Olayan Financing Company, at third.

Saudi Arabia

Gulf investment in UK property expected to reach $3.2 B in 2024

Middle Eastern investors are capitalising on lower property valuations and those investors are likely to refinance when interest rates start falling, the Islamic bank said.

Legacy: Gulf

Saudi Arabia borrowing rate hits new high, posing risk to foreign investments

The Saudi Arabian Interbank Offered Rate climbed above an average of 6% in July, which was higher than the rate during the 2008 global financial crisis. 

Saudi Arabia

Turkey, Egypt seek to boost mutual trade by 50% in 5 years

In the first visit of its kind in a decade, Egypt's trade and industry minister traveled to Turkey on Tuesday.

Turkey

Israeli solar firm enters rare venture with Saudi business

Such partnerships are seldom seen, as Israel and Saudi Arabia do not recognise each other formally and the two countries have never established diplomatic relations.

Israel

Analysis

Expanded UK-Turkey trade deal seen as win-win, could include services

The current deal does not account for services, which form integral parts of the British and Turkish economies.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

Lebanon's scorned central bank chief Riad Salameh steps down

Salameh is under investigation in both Lebanon and Europe for financial crimes as Lebanon’s economic crisis continues.

Lebanon

Iran's oil shipments to China triple in 3 years despite sanctions

Iran’s strengthening ties to China have prompted some senators to call for more sanctions.

Iran

Analysis

UAE rice ban after major exporter India spikes global supply fears

The UAE was the world's 16th-largest importer of rice in 2021 and the majority of it came from India.

By Salim A. Essaid