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  • Iraq’s judiciary shuts down as Sadrists escalate street politics

    Iraq’s supreme judicial council has announced the suspension of the operation of courts. This comes as the Shiite Coordination Framework says it will end the Sadrist blocking of parliamentary sessions by convening the legislature outside Baghdad’s Green Zone. Meanwhile, the head of the Sadrist Movement—Muqtada Al-Sadr—has warned of further escalation as his call for a “live public debate” among party leaders is being met with mixed responses.

  • Arrests and TV confessions as Iran cracks down on women’s ‘improper’ clothing

    Rashno, a writer and artist, is among a number of women arrested after the introduction of a national “Hijab and Chastity Day” on 12 July.

  • Here’s when it will start cooling down in Saudi Arabia

    The Suhail star, also known as Canopus, is the most-anticipated star in the Arab world as its appearance signals the beginning of the end of summer. Therefore, the days will get shorter, and temperatures in Saudi Arabia and other Gulf states will begin to decrease. The giant, bright white-yellowish star appears on August 24 before sunrise, and it is not hard to spot since Suhail is the second brightest star in the night sky – next to Sirius from the constellation Canis Major.

  • Pegasus spyware creator NSO Group plans layoffs after CEO steps down

    The restructuring comes as NSO Group continues to face scrutiny from both governments and other tech companies. In November 2021, the US Commerce Department added NSO to its Entity List, effectively banning American companies from doing business with the firm unless they obtain explicit permission to do so. That same month, Apple sued NSO to “hold it accountable” for enabling governments to spy on activists and journalists.

  • China heatwave and drought brings uptick in factory shutdowns

    Some major manufacturers that have had to halt operations in Sichuan include the Japanese carmaker Toyota and CATL, the Chinese lithium battery giant. Critical raw material companies have been hit too, and the effects will ripple through the supply chain. For example, Tongwei, the world’s largest supplier of polysilicon—a key raw material for solar panels—has suspended production, as has lithium producer Yahua Industrial (link in Chinese).

  • Many Saudi banks shut down branches due to increased digitalization

    A report by SAMA released a few days ago hints that the country is adopting digital-first payment as the primary mode of transactions. It further suggests that the Saudi government leads the push toward a digital economy, and the payments made by the government agencies are made electronically.

  • IEA Sees Russia Oil Output Down 20% When EU Ban Takes Effect

    Gradual monthly declines will start as soon as this month as Russia cuts back refining, and will quicken as the embargo takes effect, the IEA said in a market report. The agency expects to see close to 2 million barrels a day shut in by the start of 2023, despite a healthy recovery in production in recent months.

  • Only Way Is Down for Egyptian Pound, and Question Is How Much

    Urgency is building for the $400 billion economy despite a devaluation of more than 15% in March. The dollar’s rally since then has weighed on the currencies of its trading partners and other developing peers, while energy and food shocks from Russia’s invasion of Ukraine strained Egypt’s finances.

  • Arrest warrant issued for collector who spent years helping authorities track down looted antiquities

    A former pharmaceuticals businessman based in Tripoli (northern Lebanon), Lotfi, 81, has been an avid collector for decades and an active dealer of Roman mosaics. He has been accused of trafficking “hundreds of pieces” allegedly smuggled from war-torn Lebanon, Syria and Libya that he kept in his residences near Beirut and in Tripoli, Manhattan, Paris and Dubai, or in storage in New Jersey, before putting them on the market. Several artefacts have been seized by the Art Trafficking Unit (ATU) of the New York District Attorney’s office, led by Colonel Matthew Bogdanos, as well as customs officials in France and Lebanon.

  • Middle East Stocks Rally Seen Stalling on Global Economy Slowdown, Oil Prices

    The region, dominated by banks and energy firms, has benefited from rising interest rates and higher oil prices this year, as well as from US President Joe Biden’s meeting with Crown Prince Mohammed Bin Salman last month. But investors are now fretting over the drop in oil prices and risks to corporate earnings and global growth amid continued tightening by the Federal Reserve and other major central banks.