Economy Red Sea attacks dent Mena business activity The attacks on shipping in the Red Sea are depressing economies across the Middle East and North Africa, as supply chain disruption takes its toll on business activity. The latest economic monthly bulletins for the UAE, Saudi Arabia and Egypt all show a drop in operating activity for January. Houthi rebels in Yemen have been […] February 5, 2024
Economy Egypt stable for now but vulnerable, economists warn A few days after Israeli forces launched a ground offensive in Gaza, Fitch Ratings downgraded Egypt’s credit score to B- from B. The conflict could scare off tourists and investors, the ratings agency said in November, posing a risk to Egypt’s economy. This was Fitch’s second downgrade in six months: it stripped Egypt of B+ status […] December 6, 2023
Opinion Economy Egypt must weigh up finance woes with key role in conflict The country has a crucial part to play November 17, 2023
Markets Investors unsure on pricing Gaza conflict, says UBS Global investors and markets are “not sure” how to price in the fallout from the Israel-Gaza conflict, according to Swiss private wealth bank UBS. “It’s very hard for the markets to price these events,” Mark Haefele, chief investment officer in the global wealth management division at Swiss bank UBS, told reporters on Thursday. “So far, […] November 17, 2023
Oil & Gas Oil prices surge as conflict intensifies in Israel Oil prices rose by more than 3 percent on Monday in the wake of Hamas’s surprise attack on Israel, which threatens to destabilise the Middle East. Brent crude was trading at $87.65 a barrel, up 3.6 percent, by 17:41 GST while US West Texas Intermediate was at $86.15 a barrel, up just over 4 percent. […] October 9, 2023
Entrepreneurs Funding options on the rise for Palestine startups Palestine is home to a wealth of entrepreneurial talent but its startups have struggled to gain access to funding. A number of initiatives are aiming to change all that by doubling the amount of startup funding available and offering mentoring opportunities. Support is also being offered to Palestinians living in the Middle East and North […] September 20, 2023
Analysis Entrepreneurs Innovation hub helps launch Palestinian startups in Gulf Startups in Palestine are increasingly expanding in the Gulf as a way of overcoming hurdles such as a lack of access to funding and support systems. Central to their strategy is the Intersect Innovation Hub, a business incubator that is helping to build bridges between Palestinian startups and the Gulf region. Rateb Rabi, CEO of […] August 8, 2023
Economy World Bank says Palestinian economic growth to slow The Palestinian economy is expected to grow about three percent in 2023 after a four percent post-Covid rebound in 2022, as tensions with Israel and the impact of the war in Ukraine pose serious downside risks, the World Bank said. The World Bank said it will present its outlook in Brussels this week at a […] May 3, 2023
Food & Drink $5.5m initiative for food security in Mediterranean countries A new $5.5 million package of technical assistance to improve food security in Tunisia, Egypt, Jordan, Lebanon, Morocco and the West Bank and Gaza has been agreed by the European Bank for Reconstruction and Development and the Food and Agriculture Organisation of the United Nations. The joint initiative, which will be launched in January, is […] December 21, 2022
Lifestyle Palestinian comedians strike a chord in occupied cities Palestinian American Amer Zahr is on a mission to heal through humour. In 2015 he started bringing fellow Arab American comedians from the United States to perform stand-up across occupied Palestinian cities including Nablus, Bethlehem and Ramallah. Seven years later, Zahr’s now annual Palestine Comedy Festival is still going strong. “Laughter is therapy,” he told […] September 1, 2022
Tourism Palestinians urged not to use Israeli airport for concessions The Palestinian Authority urged Palestinians not to take advantage of concessions promised by Israel that would allow them to travel through Ramon airport in southern Israel, saying they should have their own airport. Israel’s Airports Authority this month said Palestinians from the occupied West Bank would be offered special flights from Ramon, near the Red […] August 25, 2022
Tourism No flights yet from Israel for West Bank Palestinians A group of Palestinian passengers flew to Cyprus from an Israeli airport on Monday, but the flight was not organised under a promised arrangement easing travel restrictions for residents of the occupied West Bank, an airports authority spokesperson said. Israeli authorities agreed earlier this month, following pressure from the United States, to ease some of […] August 23, 2022
Banking & Finance Palestinians working in Israel strike over new payment methods Tens of thousands of Palestinians employed in Israel staged a one-day strike on Sunday in protest at a decision to pay their salaries into bank accounts rather than in cash. The new payment method was agreed between Palestinian and Israeli authorities looking for a more efficient and secure way to pay salaries, but workers fear […] August 22, 2022
Insight Food & Drink Ukraine war drives Gulf to double down on food security As the war in Ukraine has pushed up food prices and disrupted supply chains, hard-hit Mena countries explore ways to protect themselves In Abu Dhabi clusters of fresh tomatoes are growing inside rows of climate-controlled greenhouses in the middle of the desert – just one example of the lengths the arid region must go to […] May 12, 2022
King Abdullah joins Biden to defuse Jerusalem tension Jordan’s King Abdullah agreed with U.S. President Joe Biden on the need to prevent a repeat of recent confrontations in Jerusalem’s Muslim holy sites that sparked concerns of wider conflict, state media said. In a phone call on Monday, Abdullah was quoted as saying the cornerstone of peace was a comprehensive Arab Israeli settlement based […] April 27, 2022
Jordan’s king agreed with U.S. Biden on need to defuse Jerusalem tension Jordan’s King Abdullah agreed with U.S. President Joe Biden on the need to prevent a repeat of recent confrontations in Jerusalem’s Muslim holy sites that sparked concerns of wider conflict, state media said. In a phone call on Monday, Abdullah was quoted as saying the cornerstone of peace was a comprehensive Arab Israeli settlement based on a two-state solution […] April 27, 2022
Agriculture EU plans to counter Russia with food diplomacy in North Africa, Middle East The EU aims to address rising wheat and fertilizer prices and expected shortages in the Balkans, North Africa and the Middle East with “food diplomacy” to counter Russia’s narrative on the impact of its Ukraine invasion, EU diplomats and officials say. Food insecurity was causing “resentment” in vulnerable countries in these regions, while Moscow was […] April 12, 2022
