The China Development Bank on Monday disbursed a 7 billion yuan loan agreement with Egypt's central bank.
Israel's bombardment of the Gaza Strip, which has killed 6,546 Palestinians, has threated to spill over regionally into Lebanon following clashes with Hezbollah, and Egypt as Israel demands Gazan's move southwards towards the Rafah border crossing.
The war between Hamas and Gaza has increased the risks of insuring the assets of airlines who are based in, and flying into, both Israel and Lebanon.
IMF cuts Saudi Arabia's growth forecast to 0.8% for 2023.
![Egypt has suffered from a severe economic crisis which has led to rampant inflation and the devaluation of its currency [Getty]](/sites/default/files/styles/image_156x88/public/2023-10/GettyImages-1242767215.jpg?h=199d8c1f&itok=hax8hdRT)
The ratings agency Moody has downgraded Egypt to its lowest ever credit rating, as a severe economic and debt crisis continues
Egypt is currently experiencing a foreign currency shortage, with a widening gap between official value of the Egyptian pound against the dollar and the black market value
Turkey's annual inflation rate held steady near 60 percent last month, official data showed Tuesday.
Saudi Arabia has revised down its budget projections and now expects to record a deficit this year.
Iran is set to build a new oil refinery in Syria, where it has maintained huge economic interests, with support from Venezuela.
The new rate will now increase to 30 percent, from 25 percent as inflation continues to plague Turkey.