Economy and trade

Trucks loaded with goods wait to cross over to Syria

Analysis

How Hormuz crisis is reshaping economic ties between Iraq and Syria

Iraq and Syria are expanding trade and energy cooperation, but security risks, economic challenges and longstanding mistrust raise questions about whether their growing partnership can endure.

Shelly Kittleson

By Shelly Kittleson

In Baghdad, reporting on Iraqi politics

An attendee walks past signage displayed inside the venue for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 14, 2026. (Photo by ANTHONY WALLACE / AFP via Getty Images)

Syria to rejoin Arab group at IMF, leaving Russian-led constituency

Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD.

Russia's Ekaterina Alexandrova returns the ball to Kazakhstan's Elena Rybakina during their WTA Finals tennis tournament in Riyadh on November 5, 2025. (Photo by Fayez NURELDINE / AFP via Getty Images)

Explainer

From Six Kings Slam to FIFAe finals, Saudi Arabia's events derailed by war

Some of Saudi Arabia’s flagship events — across sectors including culture, entertainment and sports — have been canceled or postponed following deadly Houthi attacks over the weekend.

Flames burn at a facility belonging to Saudi oil giant Aramco south of Riyadh

Explainer

Aramco HQ attack exposes Saudi defense gaps, infrastructure vulnerabilities

The Iran-linked Yemeni militants struck at the heart of Saudi Arabia’s oil industry this week amid an expanding campaign against key infrastructure.

Latest News

Explainer

IMF projects Gulf rebound in 2027. Can energy production keep pace?

TOPSHOT - Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf's petroleum facilities hours after the US struck Iran's Kharg Island. (Photo by AFP via Getty Images) /

Jeddah airport flights disrupted as Houthis escalate threats

Men walk at a terminal at Saudi Arabia's King Abdulaziz International Airport in Jeddah on December 12, 2019. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Saudi Arabia outlines oil export plans amid escalating Houthi attacks

Guests attend the 25th WPC Energy Congress, Riyadh, Saudi Arabia, Oct. 12, 2026.

Iraq devalues dinar 13% as Hormuz disruption hits oil revenue

A man walks past a closed foreign exchange office in Baghdad on October 7, 2026. Iraq's central bank devalued the dinar currency against the dollar on October 7, with the country facing a deepening crisis brought on by the Middle East war. (Photo by AHMAD AL-RUBAYE / AFP via Getty Images)

A sailor from the navy of Yemen's Aden-based internationally recognized government stands at a machine-gun position aboard a vessel patrolling a shipping lane off Hanish Island in the Red Sea on July 27, 2026.

Oil tops $109 after Houthi strikes, Saudi pipeline shutdown

The Houthi militia said on Monday that it fired dozens of drones and ballistic missiles at military targets in Saudi Arabia in retaliation for airstrikes by Riyadh in Yemen.

German President Frank-Walter Steinmeier

UAE announces plans to invest $46B in Germany during MBZ visit

The UAE is Germany’s largest trading partner in the Gulf, with bilateral trade surpassing 13 billion euros ($15 billion) last year.

United Arab Emirates

AFPTV / AFP via Getty Images

Brent crude sails past $100 as Middle East war intensifies

The Iran war escalated this week as Yemen’s Iran-backed Houthi rebels attacked four southern Saudi Arabian cities and oil facilities.

West Bank settlements

12 countries including France, UK, Canada end trade with West Bank settlements

The decision comes against the backdrop of an escalation in settler violence and settlement expansion in the occupied West Bank.

The former chief of Iran's Islamic Revolutionary Guard Corps, Mohsen Rezaei, takes part in a demonstration against American "crimes" following the killing of IRGC Maj. Gen. Qasem Soleimani in a US strike on his convoy at Baghdad international airport, Tehran, Iran, Jan. 3, 2020.

Iran to announce new Gulf restricted zone, Hormuz route: What we know

Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said the restricted zone would begin at the point where the US blockade of Iranian ports starts and extend into the Gulf.

Vehicles drive beneath a large screen displaying portraits of Egypt's President Abdel Fattah al-Sisi (R) and his Chinese counterpart, Xi Jinping, in Cairo on Aug. 31, 2026.

Xi makes first Egypt visit in decade as Cairo gets caught in US-China AI row

China's Huawei last month submitted a bid to build advanced AI data centers and supply more than 2,000 AI chips for Egyptian government systems.

Ongoing construction work is pictured at a site in Marota City, a new mixed-use development project near the Umayyad Square in Damascus on July 22, 2026. Syria's new leaders, who inherited a dilapidated economy, are trying to attract capital without waiting for the full lifting of international sanctions. (Photo by LOUAI BESHARA / AFP via Getty Images)

UAE investment fuels Syria's postwar economic recovery with $7B property deal

The deal would see UAE-based Arada develop a major real estate project in Damascus.

Mecca Alliance

Israel, Greece sign $3.5 billion air-defense deal: What to know

Against the backdrop of growing tensions with Turkey, Israel signed one of its largest-ever defense industry deals to supply Greece with advanced air defense systems.

UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi (L) and Lebanese Economy Minister Amr al-Bisat after signing a memorandum of understanding, Beirut, Aug. 27, 2026.

Lebanon, UAE ink deals, deepen economic ties on Emirati Beirut visit

An Emirati business delegation signed the agreements in Beirut and met with President Joseph Aoun, indicating the UAE's interest in deepening economic ties with Lebanon.

Jade Gao/Getty Images

China's Xi to visit Egypt for first time in decade as military, Huawei ties grow

The visit comes as Chinese telecoms giant Huawei seeks to supply more than 2,000 advanced AI chips for Egyptian government data centers.

BAY ISMOYO / AFP via Getty Images

China warns US not to interfere with Iran trade: What to know

China's Foreign Ministry said Beijing was firmly opposed to what it called “illegal unilateral sanctions” and would take “all necessary measures” to safeguard its rights.

Lebanese Presidency

Large UAE delegation set to arrive in Lebanon in major investment push

A large Emirati delegation of around 70 business leaders and government officials is heading to Beirut, in the latest sign of thaw between the United Arab Emirates and Lebanon.