Economics and Policy
The Holy Islamic month of Ramadan will start in most of the Middle East on Wednesday, after an official announcement by the Moon Sighting Committee.
Lebanon's President and caretaker Prime Minister are expected to hold an urgent Cabinet session to approve two key decrees needed to proceed with oil and gas exploration in Lebanon, according to Energy Minister Gebran Bassil.
The White House has said it is not in the best interests of the United States to immediately change its aid program to Egypt, where President Mohamed Morsi was removed from office by the military last week.
Elsewhere, however, Egypt's stock index saw its steepest drop in over a month after clashes continued in Cairo and other cities.
The Syrian government is cracking down on black-market currency exchange businesses and individuals who transfer local or foreign money out of the country in order to stabilize the pound.
The Turkish lira rebounded from a record low against the dollar as the central bank offered $500 million at currency auctions and said it would start “strong” monetary tightening.
