Mideast snapshot: Egypt's IMF deal materializes, Turkish bankers grumble and more
A look at some of the stories I'm watching as I start my day as Bloomberg's Doha-based Middle East TV correspondent. Your thoughts most welcome.
Our top story from the region:
Egypt Clinches $3 Billion IMF Deal and Devalues Pound Again. The size of the deal defies economist projections that the country will need much more, though the IMF said another $1 billion could be on the table from a sustainability fund. Will the central bank let the pound float for good?
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Israeli Bank Chairman Praises Saudi Potential at Talk in Riyadh. "'Although he is an Israeli-Arab, and we can’t forget that Israeli Arabs travel to Saudi for the hajj every year, he didn’t come as a Muslim, but as chairman of Bank Leumi Le-Israel, and the name of the bank is meaningful here,'" one expert says.
Credit Suisse Leans on Saudi Money to Backstop Revamp Plans. "One of Credit Suisse Group AG’s biggest rescue packages is coming from an unexpected corner of Saudi Arabia." The lender could use the investment to boost its investment banking and wealth management businesses.
‘I am Running for the Money,’ Barrack Said of Trump 2016 Role. On trial in over accusations he acted as an unregistered agent for the UAE, Barrack's been trying to distance himself from both the Trump administration and Colony Capital's fundraising efforts. But now he faces cross-examination.
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