China’s presidential visit to Saudi Arabia is expected to yield a host of deals as the GCC increasingly looks eastward on trade.
The top Turkish diplomat aired a rare complaint over the Russian stalling of constitutional talks between the warring Syrian actors, calling on Moscow to allow the process to resume.
Some Egyptian companies are secretly dealing with a Russian alternative financial system, in anticipation of international sanctions by the United States.
Allison Schrager, E21
The great resignation was good for workers while it lasted. The latest data from Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics reveals that quits have fallen over the last year after peaking during the pandemic. The number of job openings has also declined. This suggests a labor market that remains very tight, but has started to weaken. Read more here....
While the strong dollar has played in favor of Gulf migrant workers, they are not exempt from wage increases falling behind the inflation rate.
Saudi Arabia’s non-oil economy is also growing, boding well for its ambitious economic diversification projects.
In light of the successive crises facing Tunisians, pharmacies across the country are suffering drug shortages, which the authorities are unable to resolve.
The last time the Purchasing Managers Index, which offers insight into the private sector, recorded expansion in Egypt's economy was back in November 2020.
Cairo’s exports and imports with the region increased substantially in 2021, but they still represent a small portion of the total and growth remains uneven.
Egypt, Iran and Turkey’s debt rose significantly last year.
The dismissal of Iran's foreign exchange head follows the unprecedented depreciation of rial, following three months of anti-government protests.
The Russian and US policies of appeasing Turkey have averted a new Turkish ground operation in Syria for now, but they both lay the ground for a gradual undoing of Kurdish gains in the north.
Many Gulf nations have mirrored the US Federal Reserve’s decisions on interest rates all year. Israel and Egypt have also raised rates, but Turkey has been cutting — despite skyrocketing inflation.
President Recep Tayyip Erdogan has persistently prioritized economic growth but might face the risk of stagnation ahead of Turkey's crucial elections next year.
via The Caravan Issue 2237 of The Caravan is now available online. The journal is a periodic symposium on the contemporary dilemmas of the Greater Middle East.
interview with Raghuram Rajan via The Indian ExpressHoover Institution fellow Raghuram Rajan notes, "communal harmony and unity is something that the country needs, regardless of what political party you are in.”