Kuwait purchases prominent Egyptian bank for $660m

The report indicates that the contract for the sale will be officially signed after the end of the Eid Al-Fitr holiday

Morocco purchases advanced Israeli electronic warfare technology

Morocco is the largest importer of Israeli weapons in Africa and the closet Arab state to Israel

UAE purchases 3.5 billion dollars worth of surface-to-air missiles from South Korea

The unprecedented arms deal comes amid increased defense cooperation between the two countries in recent years

Morocco purchases $22 million in ‘kamikaze drones’ from Israel: Report

Israeli media reports say Rabat is looking to begin manufacturing the drones to be used in their fight against the Polisario Front over the disputed Western Sahara

Take two: Turkiye’s election circus gets even crazier

The second round of Turkish presidential elections has drawn global attention for its increasingly bizarre alliances, outrageous propaganda, and personality politics. Ironically, not much is expected to change in its aftermath.

UAE becomes Russian gold trade hub due to western sanctions

The wealthy Gulf state has become an important outlet for Russian trade and investment following the imposition of western sanctions due to Russia’s war with Ukraine

$51 billion lost by Lebanese depositors since 2019: Bank official

Reforms recommended by the IMF, including a halt to government borrowing from the central bank, have yet to be implemented

Arab OPEC+ members expand voluntary oil production cuts

The oil production cuts have offset the economic impact of Washington's interest rate hikes, as the US faces a slowing down economy and the possibility of a new recession

Turkish intelligence kills ISIS leader: Erdogan

The claim comes as Syria and Turkiye engage in talks to normalize relations following years of Turkish support for the extremist group

Saudi Arabia may cut crude oil prices for Asian countries: Reuters

Saudi Aramco, may reduce its official selling price of crude by 40 cents to the barrel following months of price hikes

The US balks at thriving UAE-Russia relations

The leak of classified documents suggesting Emirati-Russian intel against the US has caused uncertainty about the future of US-UAE relations amid significant shifts in the geopolitics of the Persian Gulf.

China becomes first Asian shareholder in Qatar’s mega-LNG project

The landmark deal comes at a time when countries across the globe, including several Arab states, have switched to the yuan for bilateral trade with China

Biden never followed through with threats to ‘reassess’ US-Saudi relationship: Politico

US arms sales to Saudi Arabia, not oil production, remains the basis of strong US-Saudi ties

The first China-UAE gas deal in yuan: A new blow to dollar dominance

Chinese allies control 40 percent of OPEC+ oil reserves, and the GCC controls another 40 percent. With this China-UAE gas trade settled in yuan, the petrodollar today is under serious threat.

Omani, British FMs meet to kickstart renewable energy projects

London and Muscat have been able to maintain strong strategic relations in the fields of military and economic cooperation

UAE airlines resume accepting Russian payment cards

US sanctions on Russia have caused western financial firms to cease doing business in the country, but Russia is developing its own payments system in cooperation with China

Putin, Sultan of Oman discuss bilateral cooperation

The phone call, the first between the two countries' leaders, comes amid a reshuffling of relations in West Asia at the expense of the US

Russian investors establish 1,300 companies in Turkiye in 2022: report

The report highlights that Turkiye's exports to Russia increased to $9.3 billion from $5.8 billion in 2021

France boycotts upcoming visit of extremist Israeli minister

Bezalel Smotrich is set to arrive in Paris on 19 March to attend a Jewish National Fund event

Saudi Arabia sets conditions for normalization with Israel: Report

The kingdom has asked for help developing a 'civilian nuclear program' and fewer restrictions on arms purchases from the US

Ansarallah denies allegations Iran arms Yemeni resistance

Western allegations of Iranian support for the Ansarallah resistance movement have been fabricated in the past to justify the Saudi-led war

Major boost in North African imports of Russian energy: Report

Analysts have suggested that the oil is being re-exported from North Africa into European markets to alleviate the energy crisis plaguing western nations

US to impose new Russia sanctions, criticizes Turkiye, UAE

As Washington seeks to isolate Russia economically, US allies Turkiye and UAE are slow to comply with sanctions enforcement

China and Qatar close in on 30-year LNG deal: Report

This is the second major LNG agreement signed between Beijing and Doha, making China the world's second-largest LNG customer

Iranian oil exports to Pakistan hindered by sanctions and thriving black market

Despite defying US sanctions on Russian fuel imports, Islamabad has shied away from doing the same with Tehran, hindering potential lucrative bilateral trade between the two neighboring states. 

Pakistan will purchase Russian oil despite western threats of sanctions: Oil Minister

Moscow says the oil purchases will be carried out 'in the currencies of friendly countries'

Global South: Gold-backed currencies to replace the US dollar

The adoption of commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.

South Korean, UAE presidents discuss arms, energy investment

While South Korea is seeking to improve its military cooperation with the Gulf, the country has yet to release $7-9 billion in funds owed to the Islamic Republic of Iran

By the numbers: The de-dollarization of global trade

Data suggests that US dollar reserves in central banks are dwindling, as is the influence of the US on the world economy. This presents a unique opportunity for regional currencies and alternative payment systems to enter the vacuum.

Western sanctions prevent dozens of food shipments from reaching Iran

At least 40 ships loaded with food are stranded in the Persian Gulf due to payment delays caused by the complex mechanism Tehran uses to bypass unilateral sanctions