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Middle East airlines’ traffic doubles in January: IATA
Middle Eastern airlines recorded a 97.7% surge in January traffic compared the same month of 2021, said the International Air Transport Association (IATA) in a new report. ...
IMF likely to clear Morocco’s request for $5bn credit facility
Morocco is expected to receive external credit support of $5 billion from the International Monetary Fund, thanks to its strong policy frameworks and track records of economic performance. ...
Egypt’s foreign reserves surge to over $34bn in February
Egypt’s foreign reserves surged to reach $34.35 billion by the end of February 2023, the latest data from the Central Bank of Egypt showed. ...
Addressing political differences key to Iraq's energy sector revival
It’s a rare forum these days that can bring together senior figures from the US, Russia, Turkey, the Iraqi federal government, including groups close to Iran, and the two main parties from the Kurdistan Region of Iraq. ...
IMF approves $114.8mln emergency funding to South Sudan
The executive board of the International Monetary Fund (IMF) has approved an immediate disbursement of $114.8 million to the government of South Sudan to help it address the urgent balance of payment needs arising from the rising food insecurity and declining forex reserves. ...
Egypt starts debut dollar sukuk sale
Egypt has begun the sale of its first Islamic debt issuance, reportedly attracting strong demand. ...
Adnoc delivers Middle East's first LNG shipment to Germany
Adnoc and German power company RWE on Wednesday announced the delivery of the first shipment of liquefied natural gas from the UAE to Germany. ...
Opec raises 2023 oil demand forecast as China reopens
Opec has raised its 2023 oil demand forecast by 100,000 barrels per day amid expectations of an economic rebound in China, the world's largest crude importer. ...
Pakistan IMF: Crucial bailout deal eludes negotiators
Eleventh-hour negotiations between Pakistan and the International Monetary Fund (IMF) have failed to unlock $1.1bn in crucial funds aimed at preventing the country from going bankrupt. ...
Turkey-Syria earthquake: Freezing weather adds to despair as quake toll passes 22,000
More than 22,000 people are now known to have died in Monday's earthquakes in Turkey and Syria - though the UN warns the disaster's full extent is still unclear. ...
Lebanon to dispatch aid teams to Turkey
The Lebanese Army, along with the Lebanese Civil Defence and the Red Cross will dispatch an emergency relief team to conduct a search and rescue operation in Turkey following two deadly earthquakes that have so far killed nearly 2,000 people in Turkey and Syria. ...
Hundreds dead and buildings destroyed in Syria
At least 810 people have been killed in Syria as a result of Monday's earthquake in neighbouring Turkey, and we have more on where those people were: ...
Egypt-India trade exchange reaches $4.1bln in 11M 2022
Minister of Trade and Industry Ahmed Samir said that the non-oil trade exchange between Egypt and India amounted to about $4.1bn in the first 11 months of 2022, of which $723m were Egyptian exports. ...
Italian Prime Minister prepares for Libya trip to sign oil and gas deals
Italian Prime Minister Giorgia Meloni is preparing for a visit to Libya as part of efforts to secure more oil and gas supplies from North Africa. ...
Lebanon inflation rate at highest since 1987 at 171%
Inflation in Lebanon surged to 171.2 per cent in 2022, the highest in nearly four decades, as the country continues to grabble with its worst economic crisis, according to official data. ...
Iraq's economic outlook for 2023 looks bright, says expert
For a country like Iraq which is enshrined in political controversy and uncertainty, the economic outlook for 2023 looks optimistic, according to an expert. ...
Egypt unveils ancient royal tomb in Luxor
Egyptian authorities announced Saturday the discovery of an ancient tomb in Luxor dating back around 3,500 years that archaeologists believe holds the remains of an 18th dynasty royal. ...
Why some currencies in the Middle East are not performing so well
A combination of macroeconomic and geopolitical factors is hurting several currencies in the Middle East, which have inevitably had ill effects on their countries' economies. ...
‘There are no dollars’: foreign currency crunch hits Egypt’s economy
With foreign currency in short supply in Egypt, Rafik Clovis spent December anxiously waiting to find out whether his bank would be able to provide the $67,000 he needed to fund the import of a consignment of car parts from Europe. ...
Egypt's engineering exports rise 10% to $3.3 billion in 2022
According to the report, the country’s exports during the same period in 2021 amounted to $3 billion. ...
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