Middle East/Economy
3 min read
Saudi Aramco unveils record $48.4 billion profit in second quarter of 2022
The oil giant supplanted Apple as the world's most valuable company in March
3 min read
Lebanon: Armed man demanding frozen money takes hostages at bank
Lebanese banks are limiting withdrawals of hard currency amid the country's three-year financial meltdown
2 min read
Dubai’s biggest bank gives pay raises to cushion inflation
The trajectory of price increases represents a significant turnaround from deflation throughout 2019 and 2020
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Israel and Jordan to establish joint industrial zone on border
It will create joint initiatives in trade, technology and local industry
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Hamas raises taxes in impoverished Gaza, sparking protests
'This is a wrong, oppressive decision that destroys the national economy'
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UAE inks energy deal with France as Macron hosts Emirati leader
'The UAE is keen to support energy security in the world in general and in France in particular'
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Most Arabs believe economy is weak under democracy - survey
23,000 people were interviewed in 9 countries in the Middle East, north Africa and the Palestinian territories
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Turkish inflation hits two-decade high of 78.6%
The price of household goods surged by 81.1 percent
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Israel reaches record trade increase with Arab States under Abraham Accords
Trade with Jordan increased by 54 percent from last year amounting to $55 million
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WFP cuts Yemen food rations by over 50% due to funding gaps, global inflation
13 million people to receive less than half of the daily nutritional requirement
4 min read
UNRWA warns ‘chronic underfunding’ will lead to collapse
The situation for 'Palestinian refugees is more acute' in the face of Covid and the war in Ukraine
2 min read
Egypt, Lebanon and Syria sign gas import agreement
Egypt to transfer 650 million cubic meters per year to Lebanon
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Global inflation crisis ripples through Middle East
Israel and the Middle East not immune to crisis with inflation felt in the region in different ways
3 min read
Turkey’s economy liberal, and growth sustainable, says finance minister
'All of our institutions are acting with the understanding of a joint struggle'
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Abu Dhabi state firm to allocate $10 billion for projects with Egypt, Jordan
Partnerships to focus on agriculture, pharma, minerals and textiles
2 min read
Middle East, north Africa hit by higher commodity prices - IMF
Food prices account for nearly 60% of last year’s increase
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Saudi Aramco becomes world's most valuable company
The Saudi Arabian oil giant is valued at $2.42 trillion, surpassing tech giant Apple
2 min read
Report: Saudi Arabia to invest in Israel through Kushner's fund
This will mark the first public business transaction between the countries
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Official inflation rate in Turkey neared 70 percent in April
Economists say Turkey's problems are attributable to Erdogan's unconventional economic strategy
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Erdogan aims for investment in Turkey with Saudi Arabia trip
Experts believe that securing Saudi capital could help Turkey with its financial woes
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Israel: Gaza border closure aims to up economic pressure on Hamas
'Firing rockets would lead into a very fast deterioration' in Gaza's economic situation
3 min read
MENA startups raise $864m in first quarter of 2022
Startups in the UAE lead the MENA region, claiming 27 percent of all deals closed in 2022 so far
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Ramadan shoppers face soaring prices at grocery stores
'Everything is expensive - meat is expensive, we will not buy it'
2 min read
Israel, UAE finalize free trade deal
'This milestone deal will cement one of the world’s most... promising emerging trading relationships'