France's Macron eyes defense deals, Lebanon support on Saudi state visit French President Emmanuel Macron will meet Saudi Crown Prince Mohammed bin Salman for a one-on-one dinner on Tuesday. Saudi Arabia
Turkey launches counterfeit US dollar probe as exchange offices halt trade The Banking Association of Turkey said currency counting machines, counterfeit currency detection devices as well as ATMs were being updated against circulation of counterfeit banknotes. Turkey
China embraces debt listings to tap into Gulf’s pool of wealth As UAE stock markets hit $1 trillion in market capitalization for the first time last week, an increasing number of Chinese entities are choosing to list some of their debt on Gulf capital markets. By Sebastian Castelier In Dubai, reporting on regional business
Barclays fined $50M for failing to disclose 2008 Qatari funding The UK-headquartered bank will pay a fine of 40 million pounds to British regulators for failing to disclose information of its rescue by Qatar during the 2008 financial crisis. Qatar
Analysis As Saied begins new term as president, Tunisians brace for unstable governance By Francisco Serrano In Lisbon, reporting on North Africa business
Global stocks tank over fears of Middle East war, US recession On Wall Street, the S&P 500 lost 3.1% while the tech-focused Nasdaq Composite Index lost 3.7% of its value after markets opened in New York Monday morning. Israel
Gulf investment in UK real estate to hit $4B annually, says BLME Research predicts that demographic trends and supply shortages will make the UK's real estate sector a more popular option for investors in the future. Saudi Arabia
Turkey returns $5B deposit to Saudi Arabia amid economic recovery The Saudi Fund for Development decided to hold the funds in the Turkish Central Bank in March 2023 after ministerial meetings the previous year — the deposit helped Turkey firm up its weakened currency, the lira. Turkey
Turkey sees 157% wealth growth despite economic malaise Bloated asset prices due to sky-high inflation put Ankara at the top of the survey, despite many Turks struggling to get by in real cash terms. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Iran advances de-dollarization among BRICS members to counter US dominance As a new addition to the BRICS group of nations, Iran has been promoting an ambitious campaign within the alliance to counter US influence over global markets and alleviate the impacts of American sanctions on its own economy. Iran
Can Egypt's new cabinet overcome public skepticism, economic discontent? The new cabinet in Egypt is expected to address the country’s economic woes, although some analysts doubt its ability to do so. Egypt
Middle East startups see funding fall by 34% in first half of 2024 Although startup funding levels have plateaued globally, MENA reported an increase in early-stage rounds and investor participation. United Arab Emirates
Egypt’s remittances reach $2.7 billion in boost to foreign reserves Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues. Egypt
What’s behind Saudi Public Investment Fund’s $17.2B profit? The sovereign wealth fund’s turnaround following the loss in 2022 is due in large part to the stock market rebounding. Saudi Arabia
Barclays plays down Israel military links as protesters target branches More than 15 branches of the bank across England and Scotland were found with windows smashed and red paint daubed over the buildings as part of a protest calling on the bank to divest from arms companies that sell to Israel as well as from fossil fuel businesses. Palestine
Saudi Arabia joins China, UAE in digital currency project The kingdom is joining the Switzerland-based Bank for International Settlements' central bank digital currency platform. Saudi Arabia
Qatar National Bank says GCC banks have more liquidity than global rivals An executive at the Qatari lender said that Gulf countries will have to compete with the rest of the world for billions of dollars in equity to finance infrastructure projects, of which there is a higher demand than supply. Saudi Arabia
