EconSource: Middle East Markets Swoon Along with US and Europe

With oil at its lowest price in four years, the Middle Eastern and North African markets have seen broad declines. The fall of oil prices has created fears among Middle Eastern investors whose economic fate is mainly based on the region’s oil revenues. The aggressive sell-off at the end of the trading week made Egypt’s benchmark EGX30 index fall by nearly 3.4 percent and reaching 8,593 points. [My Market Watch]

Egypt central bank keeps rates on hold, monitoring risks from global growth jitters
Egypt’s central bank decided to keep its main interest rates unchanged at a policy meeting on Thursday while keeping an eye on the risks to recovery posed by the rising concerns regarding the global economy and fear of a renewed European debt crisis. Overall, the economy is showing signs of a strengthening recovery with inflationary pressures starting to ease after a spike followed the July cuts in energy subsidies. [Reuters]

Assad supporters turn against regime after billions spent on glitzy malls
While large parts of Syria remain ravaged by fighting a $50 million projects in the pro-regime city of Tartus has attracted rare criticism from the supporters of President Bashar al-Assad. The project is a private investment, but has strong regime backing. [Your Middle East]

Morocco, AfDB sign 100 million Euro loan agreement to support financial sector
Morocco and the African Development Bank signed a loan agreement worth 100 million euros. The loan is aimed at the third phase of the Financial Sector Development Support Program (PADESFI-III) meant to reinforce mechanisms for regulating and controlling financial markets. PADESFI centers on generating necessary conditions for inclusive economic growth through financial sector’s development. [Morocco World News]

Also of Interest:
Catching up on Egypt | Al-Ahram Weekly
War on the doorstep compounds Turkey’s economic worries | Hurriyet Daily News
Opinion: The Middle East needs a Marshall Plan | Aljazeera America
Iraqi Dinar: Can Comparables Guide Investment? | Investopedia
Egypt’s bold reforms start to bear fruit | Financial Times
Tunisia: Cat 2014 euro-med partnership fair | Ansamed
Egyptian government approves plan to allow rice exports | Al-Arabiya