Turkey welcomes the new year with steep price hikes for electricity and natural gas

The measures are expected to accelerate runaway inflation that has seen the Turkish lira shed as much as half of its value

Syria hikes fuel prices to highest since 2011 crisis

Syria relies solely on fuel imports from Iran, as current US sanctions have left it vulnerable to the fluctuations of the world energy market

Turkey hikes energy price for second time this year

Inflation reached 70 percent earlier this year as a result of an unorthodox economic strategy pursued by President Erdogan

Saudi Arabia raises oil prices for EU, Asia

The price increase is partially based on China's economy opening up for business after a year of slow growth due to its zero-COVID policy

Pump prices shoot up in Lebanon as central bank lifts subsidies for fuel imports

Iranian officials recently reiterated an offer to provide Lebanon with 'free fuel, construct new power stations, and rehabilitate existing power networks'

Turkey hikes energy costs as inflation soars

The Turkish president’s controversial economic policies have contributed the country’s deteriorating economy

Protests ongoing in Iran over rising food prices

At least one person has died after the protests turned violent in the province of Khuzestan

Militants in Syria’s Idlib capitalize on rising global prices

The militant group, HTS, has been using the Ukraine crisis to profit in the Idlib region of Syria, which has a 97 percent poverty rate

Lebanese government raises the price of gasoline by 16% as it moves to end fuel subsidies

The latest price hike comes just four days after authorities increased fuel prices by 37 percent

Washington gives secret bailout to companies accused of war crimes in West Asia

US lawmakers secretly added a provision to the 2023 defense budget that will allow weapons makers to unilaterally hike the price of Pentagon contracts

The US holds Iraq hostage with the dollar

Since 2003, Iraq is required to send all its oil revenues to a single US bank account. Washington is now weaponizing Baghdad's own dollars against Iraq, by devaluing its currency and hindering payments.

West cannot solve global energy crisis by bullying and sanctioning nations: Turkey

Ankara called on western nations to stop antagonizing Iran, Venezuela, and Saudi Arabia at a time when a large part of the world has been blocked from purchasing Russian oil and gas

UK to significantly reduce tariffs in trade with Syria

London is moving to give 'enhanced trading status' to several developing nations in order to soften the blow of losing access to Russian energy

Turkish lira continues to tank, reaching all-time low since December 2021

The annual inflation of the Turkish lira rose to nearly 80 percent, according to official data released on 4 July

Turkey’s annual inflation closes in on 80 percent

The highest price hikes in June were in the transport sector, with prices soaring by 123 percent within a year

St. Petersburg sets the stage for the War of Economic Corridors

In St. Petersburg, the world's new powers gather to upend the US-concocted “rules-based order” and reconnect the globe their way

Egypt, Israel sign gas deal to increase gas exports to EU

One gas field that Israel seeks to add to its coffers, the Karish gas field, is currently the subject in indirect negotiations with Lebanon

UN leader warns of looming global food shortages

West Asia has been hardest hit by the fallout of western sanctions imposed on Russia, with Syria, Yemen, and Afghanistan all facing severe food shortages

Inflation in Turkey approaches 70 percent in April

A unions confederation calculated that food prices increased by eight percent in April alone in the capital Ankara

Dozens arrested in Syria’s Deir Ezzor as anti-SDF protests escalate

This month has seen an escalation of protests against the SDF in Deir Ezzor as living conditions deteriorate and the price of fuel and other commodities continue to rise

Rights group sounds alarm over unprecedented food crisis in West Asia

The conflict in Ukraine and western sanctions on Russia have exacerbated a global supply crisis that was set off by the COVID-19 pandemic

Lebanese mills running out of wheat as Lebanon, Syria head towards food crisis

The Russian-Ukrainian conflict is raising fears of major shortages in the global wheat supply

Saudi crown prince snubbed Olympics to join king’s phone call with Biden

The call took place during the 2022 Beijing Winter Olympics, before the recent hike in the global oil price

UAE officials issue conflicting statements over OPEC+ production levels

As oil prices continue to climb, the UAE energy minister has made it clear his country supports the existing oil supply agreement with OPEC+ members

Inflation in Turkey hits 20-year high amid Ukraine crisis concerns

Experts believe inflation could reach as high as 70 percent before the end of the year

As Turkey’s economy collapses, calls for constitutional reforms grow

Soaring inflation, fluctuating currency rates, epic hike rates demand that Turkey institute urgent constitutional reforms

Miraculous $10bln profit erases Turkey’s Central Bank losses on last day of 2021

On 31 December, Turkey's Central Bank saw its fortunes shift dramatically, despite having projected losses of around 70 billion liras for the year

Thousands protest in Yemen against US-backed blockade

The Saudi-led war has pushed Yemen to the brink of famine

GCC supports Jordan over attempts to destabilize the kingdom

Jordan has suffered nationwide protests over the deteriorating living conditions under King Abdullah II

Jordanian forces suffer a dozen casualties in raid against ‘takfiri’ elements

Over the past 17 days, Jordan has witnessed nationwide demonstrations protesting the deteriorating living conditions under King Abdullah II