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Economy & Business

A man counts Turkish lira at a currency exchange office in Istanbul, July 29, 2020.

Turkey’s Central Bank holds interest rate at 50%

It marks the eighth consecutive month without a change.

Egyptian pound banknotes lie on a table on March 6, 2024, in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market.

Egypt to launch first IPO in three years amid IMF-fueled privatization drive

The move comes amid a privatization drive in Egypt as part of the International Monetary Fund’s conditions to provide Cairo with an $8 billion bailout to help the North African country recover from an economic crisis.

TPAO

Turkey’s big plan to launch IPOs for state energy companies: What we know

Turkey's financial recovery travails are likely to be the key reason for the change in energy policy.

Michael M. Santiago/Getty Images

BlackRock gets nod to establish Abu Dhabi office after Saudi HQ plans set

BlackRock, which manages around $11.5 trillion in assets, announced last month that it had obtained a license from the Saudi authorities to open a regional headquarters in Riyadh.

United Arab Emirates

Latest News

Analysis

Why did Saudi Arabia replace Neom's CEO amid budget concerns?

NEOM CEO Nadhmi Al-Nasr speaks during the last day of the Future Investment Initiative conference, Riyadh, Oct. 25, 2018.

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

Analysis

From F-35s to real estate: Key Gulf-Trump business deals, ties to watch

US President Donald Trump (C) and Saudi King Salman (C-R) pose for a picture with leaders of the Gulf Cooperation Council, Riyadh, May 21, 2017.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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Ben & Jerry's sues Unilever, accuses parent of muzzling views on Gaza war

A menu hangs on the wall at a Ben & Jerry's ice cream store, Miami, Florida, on Sept. 23, 2021.

Saudi PIF trims Nintendo stake from 7.5% to 6.3% in second cut of month

Jack Dutton

Chief Business Correspondent

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

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jennifer Gnana

Gulf Correspondent

In Dubai, reporting on Gulf energy policy and politics

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Sebastian Castelier

In Dubai, reporting on regional business

BULENT KILIC/AFP via Getty Images

Analysis

East Med energy risks rise as Israel-Iran crisis threatens oil shocks

As the Middle East conflicts intensify, Israeli energy assets are exposed to attack alongside new threats facing Gulf oil supplies.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

An employee works on a steel wheel production line at a factory in Qingzhou, in eastern China's Shandong province on Sept. 27, 2024.

Turkey slaps steel tariffs on China, India, Russia, Japan as trade tensions soar

The move follows China filing a complaint against Turkey at the World Trade Organization over Turkish tariffs on imports of electric vehicles.

NEW YORK, NEW YORK - SEPTEMBER 30: A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. A massive strike that could shut down ports across the East and Gulf coasts could begin at midnight as members of the International Longshoremen’s Association continue to make salary and other demands to the United States Maritime Alliance, which controls many of the ports across the country. (Photo by Spencer Platt/Getty Images)

Red Sea, Iran energy threats amplify 2025 global economic risks as trade wars, Trump loom

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A Turkish Bayraktar TB2 combat drone is on view during a presentation at the Lithuanian Air Force Base in Siauliai, Lithuania, on July 6, 2022.

Albania to receive 'significant' number of drones from Turkey, PM says

Turkey pledged to send drones to Egypt earlier this year, while the Maldives recently unveiled two Bayraktar TB2 aircraft.

JEAN-CHRISTOPHE VERHAEGEN/AFP via Getty Images

Why Algeria restricted wheat imports from France

French-Algerian relations have grown tense in recent months over France’s colonial legacy and disputes over the status of Western Sahara.

Tingshu Wang/Getty Images

UAE’s AD Ports Group inks major deal with China

Political and economic cooperation between the United Arab Emirates and China is growing, with robust trade ties and a visit by the Chinese premier to the Gulf state.

United Arab Emirates

In an aerial view, container ships sit docked at the Port of Oakland on May 21, 2024, in Oakland, California.

Maersk, Hapag-Lloyd to partner on Africa route avoiding Red Sea

Gemini Cooperation will use the Cape of Good Hope network, which has been the alternative transit route for hundreds of vessels since the Houthis stepped up their attacks on commercial shipping in the Red Sea in mid-November 2023.

A photograph taken on October 28, 2019 shows Saudi and foreign journalists at the Future Investment Initiative (FII) badge collection centre in the Saudi capital Riyadh. - Top finance executives and political leaders have converged on Saudi capital Riyadh for a Davos-style investment forum, in stark contrast to last year's mass boycott following the murder of dissident journalist Jamal Khashoggi. US officials and the heads of giant banks, top asset management firms and major sovereign wealth funds top the g

Gulf sovereign investors unshaken by Middle East wars but opt for global markets

Gulf Cooperation Council investors accounted for 40% of deals made by sovereign investors globally in 2023 and 2024.

United Arab Emirates

Cranes are used at a construction site across from high-rise buildings in Dubai, on Feb. 18, 2023.

Investors undeterred as Dubai’s real estate bubble risks increase in 2024

As players line up to capitalize on Dubai real estate, the city’s record-breaking boom stands out in annual UBS ranking of hot global property markets.

United Arab Emirates

GIUSEPPE CACACE/AFP via Getty Images

Abu Dhabi’s sovereign funds ranked wealthiest in world with $1.7 trillion

The assets of Gulf sovereign funds have risen considerably in recent years, in large part due to the UAE and Saudi Arabia.

United Arab Emirates

AFP via Getty Images

Middle East startups see 34% uptick in global investors

Data firm MAGNiTT reported Tuesday that the Middle East far outperformed other markets and regions, including Africa and Southeast Asia, which saw steeper drops.

Ethan Miller/Getty Images

Las Vegas gambling operator Wynn Resorts to open first UAE casino

The UAE is looking to lure gaming tourists with the development of a large casino in the northern emirate of Ras al-Khaimah.

United Arab Emirates