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Egypt apparently has a plan to buck such a raw material export trend, and cotton is coming at the centre of such an endeavour.

Iraq relies on oil exports, 90 percent passing via the Strait of Hormuz. Disruptions may devastate its economy, highlighting the need for alternative routes.

Egypt is expected to receive later this month another disbursement from the IMF as part of an $8 billion programme, its finance minister has said.

The Iranian currency extended its fall on Saturday, hitting a new all-time low against the US dollar amid tensions with Washington and Europe.

The UAE is a hub for multinationals in the Middle East and the tax amendments come a year after the UAE began rolling out a 9 percent business tax.

Norway's sovereign wealth fund, the world's largest with assets of around $1.8 trillion, has excluded an Israeli group on ethical grounds.

Israel extended for one year a waiver allowing Israeli banks to work with Palestinian ones just days before it was due to expire

Construction is set to take two years and will finish in 2027 and will see an expansion of staff from 60 employees to 190.

Malaysia's largest bank has cautioned that the country’s Starbucks branch is expected to face prolonged declines in sales.

Russia and Iran have deepening military and economic cooperation, with both countries under US sanctions.