01 | Iraq’s dinar devaluation is already affecting import pricing

As of 2026-10-15, Iraq’s official exchange-rate adjustment has turned the mismatch between dollar-denominated purchasing costs and dinar-denominated sales revenue into an immediate pricing and inventory risk for importers. On October 7, the Iraqi government introduced a new rate for cash dollar sales, changing it from 1,320 dinars per dollar to 1,520 dinars per dollar—a devaluation of almost 15%.

The government is using the adjustment to ease its cash shortage. Before the war, oil accounted for about 90% of government revenue, and exports have yet to recover to prewar levels following disruption in the Strait of Hormuz. A weaker dinar gives the government more local currency for every dollar of oil revenue converted, helping it fund public-sector salaries and other expenditure. Businesses that import in dollars and sell in dinars bear the immediate cost. Some wholesalers in Baghdad have already suspended trading while waiting for prices to stabilise.

The exchange-rate change can ease near-term fiscal pressure, but it does not resolve the decline in oil revenue, increased government borrowing or shrinking foreign-currency reserves. The Iraqi prime minister’s financial adviser said that central bank reserves had fallen from $106bn to approximately $80bn.

Source: Al Jazeera, 2026-10-15

02 | Qatar’s extended LNG force majeure leaves a supply gap

Buyers that still rely on Qatari spot or contracted cargoes should not treat improving passage through the shipping route as evidence that supply has recovered. QatarEnergy is continuing to extend force majeure on liquefied natural gas (LNG) supplies into November and early December. Two Ras Laffan trains remain offline, removing about 12.8 million tonnes, or 17% of Qatar’s capacity; the affected capacity is expected to take three to five years to restore.

The first new train in the North Field East expansion is scheduled to be ready to run in November, with production expected to begin in the first quarter of 2027. At least 12 empty LNG carriers are waiting near Qatar, with combined capacity of roughly 1.1 million tonnes. It remains uncertain whether they will load and cross the Strait of Hormuz. Ship-to-ship transfers also cannot handle anything close to Qatar’s normal export volumes.

Source: Logistics, 2026-10-11

03 | Saudi Arabia will allow parallel entry-visa applications for skilled workers and their families

For businesses preparing to relocate highly skilled employees, Saudi Arabia’s new measure could reduce the period during which employees and their families must wait separately. It should not yet be treated as an active process when planning entry dates. On October 6, 2026, the Ministry of Interior, in coordination with the Ministry of Foreign Affairs and the Ministry of Human Resources and Social Development, announced that eligible highly skilled foreign workers will be able to apply for and obtain entry visas for qualifying family members alongside their own work-visa applications.

Accompanying family members must still complete residence procedures after entry in accordance with applicable regulations. The Saudi authorities have not announced an implementation date, so corporate relocation schedules should continue to rely on the formal launch notice.

Source: EY Tax News, 2026-10-13

04 | Bahrain’s 90-day cross-employer arrangement requires formal approval

Bahrain’s new rule gives businesses a route to cover short-term staffing needs, subject to clear conditions. A foreign worker must hold a valid work permit and obtain their own written consent, agreement from both the existing and receiving employers, and approval from the Labour Market Regulatory Authority. Applications must be processed through the Expat Management System, and a temporary assignment may last no more than 90 days.

The receiving employer must continue to meet Bahrainisation requirements. If its applicable Bahrainisation rate is lower than that of the existing employer, an additional fee applies under the relevant framework, while the application itself carries a separate administrative fee of 5 Bahraini dinars. Temporary deployment to another establishment owned by the same employer or within the same corporate group also remains subject to the prescribed conditions. During the assignment, the existing and receiving employers share responsibility for the worker’s employment rights and obligations.

Source: The Economic Times, 2026-10-13

05 | A return to diesel surplus will not quickly relieve inventory pressure

The International Energy Agency expects the global diesel shortage to continue into 2027, with inventories unlikely to recover until the second half of 2027. In the fourth quarter of 2026, gas oil supplies, including diesel and heating oil, are still expected to fall short of demand. Even if refineries increase output towards year-end, the market may still need consumption cuts to rebalance unless Middle Eastern refined-product exports recover.

In September, combined net gas oil exports from the Middle East and Russia fell by more than 60% year on year to 820,000 barrels per day, a loss of about 1.3 million barrels per day. US diesel stocks were at a 14-year seasonal low, while European commercial gas oil inventories had fallen to a 25-year low in July. Wholesale diesel prices reached about $220 a barrel in Europe and the US and exceeded $200 a barrel in Singapore. Prices have since eased but remain nearly double crude benchmarks and prewar levels.

The IEA expects higher refinery output to return the diesel market to a seasonal surplus in early 2027, but not enough to replenish inventories depleted during the conflict quickly. Refined-product and liquefied petroleum gas shipments remain below half their prewar volumes, leaving the recovery exposed to further infrastructure or shipping disruption in the Gulf.

Source: The National, 2026-10-14

06 | New Qatari LNG output is expected in the first quarter of 2027

Even if Qatar’s LNG expansion starts a new train in November, the additional output is not expected until the first quarter of 2027. After the Iran war began, both the recovery of Qatar’s existing LNG production chain and the expansion project faced construction and logistics constraints. Major construction projects stalled, slowing related investment.

QatarEnergy said a major new LNG project would start up in November and begin producing gas in the first quarter of 2027. Ship-tracking firms have also identified about 12 empty carriers owned or chartered by QatarEnergy gathering near its export terminals. Production and shipping preparations are moving forward, but the additional supply will not enter the market in 2026.

Source: Breitbart, 2026-10-13

Other updates

  • 07 | Iraq exempts food and medicine imports from customs duties: The exemption took effect on October 7, 2026, following approval at the 23rd regular session of the Council of Ministers, and is intended to protect the country’s food and health security. (Source: Iraqi Prime Minister’s Office, 2026-10-14)
  • 10 | The UAE uses multiple gateways to maintain logistics operations: The UAE Minister of Economy and Tourism said the country has several external routes that can help maintain logistics operations when the Strait of Hormuz is disrupted. (Source: UAE Ministry of Economy and Tourism, 2026-10-15)
  • 11 | Qatar and China extend their local-currency swap agreement: Qatar Central Bank and the People’s Bank of China extended the arrangement for a third time; first signed in 2014, it is intended to support bilateral trade and direct investment. (Source: Qatar Central Bank, 2026-10-14)
  • 12 | Türkiye removes instalment limits for goods and services: The Ministry of Trade abolished the previous time and spending limits for instalment payments on retail goods and services other than housing sales, effective October 15, 2026. (Source: Türkiye Ministry of Trade, 2026-10-15)
  • 13 | Dubai regulator penalises long-running unauthorised services: The Dubai Financial Services Authority fined Hayman-Woodward’s Dubai International Financial Centre entity $454,367 after finding that it had provided unauthorised services to 71 clients over more than six years. (Source: Dubai Financial Services Authority, 2026-10-15)
  • 14 | Adnoc says contingency planning maintained supply: Adnoc said backup facilities and contingency plans developed over the past 10 to 15 years helped it maintain oil production during the Iran war. (Source: Abu Dhabi National Oil Company, 2026-10-15)
  • 15 | IMF official says buffers against the price shock are narrowing: The IMF’s Middle East director said the region’s buffers against the Iran war’s price shock are finite; the fund maintained its 2026 global growth forecast at 3.1% and raised its 2027 forecast slightly to 3.4%. (Source: International Monetary Fund, 2026-10-15)
  • 16 | Qatar Development Bank expands its logistics support fund: The bank increased the fund to 400 million Qatari riyals, offering non-repayable grants to local manufacturers across sectors that reimburse up to 80% of shipping-cost increases above normal levels. (Source: Qatar Development Bank, 2026-10-14)
  • 17 | Oman revokes licences of non-compliant Sanad Services Centers: The Ministry of Commerce, Industry and Investment Promotion revoked several licences for breaches of the rules under Ministerial Decision No. 244/2022 and closed 17 non-compliant centres in Dhofar Governorate. (Source: Oman Ministry of Commerce, Industry and Investment Promotion)
  • 19 | Türkiye’s central bank will maintain tight monetary policy: The governor said the bank would retain its tight stance until price stability is achieved, using demand, exchange-rate and expectation channels to continue the disinflation process. (Source: Central Bank of the Republic of Türkiye, 2026-10-14)
  • 21 | Saudi development finance supports a green hydrogen project: The National Development Fund and the Saudi Industrial Development Fund, together with local and international financial institutions, participated in financing a green hydrogen project with total investment of 31.5 billion Saudi riyals. (Source: Saudi National Development Fund, 2026-10-15)
  • 22 | Iraq changes limits on overseas bank-card use: The Central Bank of Iraq raised the daily limit for overseas card-present point-of-sale transactions from the equivalent of 500,000 dinars to 5 million dinars, while setting the total monthly limit at 5 million dinars. (Source: Central Bank of Iraq, 2026-10-13)
  • 23 | Iraq sets out a 2050 vision to reduce oil dependence: The finance minister said “Iraq Vision 2050” would reduce dependence on oil revenue through revenue diversification, a larger private-sector role, and continued economic and fiscal reform. (Source: Iraqi Ministry of Finance)
  • 24 | Egypt approves the Salloum logistics zone and Sadat dry-port company: The cabinet approved a 30-year licensing agreement to build and operate a 652-acre integrated logistics zone beside Salloum land port and authorised the creation of the Sadat Dry and Land Port Company. (Source: Egyptian Cabinet, 2026-10-14)
  • 26 | DIFC plans to expand its Za’abeel District: The Dubai International Financial Centre plans to invest more than Dh100 billion in the expansion, which is expected to double the centre’s capacity. (Source: Dubai International Financial Centre, 2026-10-13)
  • 29 | Sharjah strengthens port and rail links: The Sharjah Investment and Development Authority identified Khorfakkan Port and the near-complete rail network linking the emirates as priorities for port connectivity and trade-route diversification. (Source: Sharjah Investment and Development Authority, 2026-10-15)
  • 30 | Türkiye records a 532 billion lira fiscal deficit in September: The Ministry of Treasury and Finance reported central government revenue of 1.25 trillion liras and expenditure of 1.79 trillion liras, producing a 532 billion lira deficit. (Source: Türkiye Ministry of Treasury and Finance)

Last updated: October 2026. This content is for informational purposes only and does not constitute legal or tax advice.