Economy and trade

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Oil falls below $74 as Hormuz traffic recovers after Iran war

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

A picture shows the four seasons hotel in Beirut with the snow covered mountain of Sannine in the background on March 8, 2019.

Explainer

Lebanon advances controversial $500K golden visa law: What to know

While its supporters say the scheme would help Lebanon's economy recover, critics say it could offer a channel for corruption.

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

The deadly explosion marks an early test of Gulf efforts to revive oil and gas production following a historic energy supply shock caused by the US-Israel-Iran war.

A worker counts banknotes after filling up the tank of a vehicle at a petrol station in Giza on March 10, 2026.

Interview

US-Egypt fund makes case for economic statecraft in hard power era

As Washington focuses on war and deterrence, the Egyptian-American Enterprise Fund argues private-sector investment can advance US strategic interests.

Cornelius Queen

Cornelius Queen

Senior Vice President of the Egyptian-American Enterprise Fund

Latest News

Oil falls more than 3% after Iran, US signal progress in talks

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

Analysis

US-Iran deal delivers $300 billion controversy, reconstruction questions

A woman walks past a billboard displaying Iran's national flag at Enghelab Square in Tehran on June 14, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Interview

Franco-Gulf investment holds firm despite Iran war, French official says

French Trade & Invest Commissioner for United Arab Emirates and Middle East and Business France's regional director for the Middle East Axel Baroux. — Business France

Axel Baroux

France’s trade and investment commissioner for the UAE and Middle East

Gulf investment to turn inward to rebuild postwar infrastructure: QNB

A picture taken on June 5, 2017, shows a man walking past the Qatar National Bank branch in the Saudi capital Riyadh.

From left, Sultan Haitham bin Tarik of Oman, Egypt's President Abdel-Fattah El-Sisi.

UAE hosts Gulf leaders including Qatar's along with Egypt, Jordan

Egypt and Jordan are increasingly looking to the United Arab Emirates and other Gulf states for development and economic support.

Egyptian President Abdel Fattah al-Sisi participates in the Leaders Session – Partnering on Agenda 2063 at the US-Africa Leaders Summit, Washington, Dec. 15, 2022.

Egypt green-lights sweeping privatization strategy following IMF agreement

The plan defines the contours of the state’s future participation in the economy, including those activities it plans to exit, to increase the contribution of the private sector.

Special Presidential Envoy for the Global Coalition to Counter ISIL, Brett McGurk, speaks during a press conference in Amman on November 6, 2016. (Photo credit should read AHMAD ABDO/AFP via Getty Images)

Iraq's PM Sudani hosted US envoy ahead of meeting Iran's Quds commander

Iraqi Prime Minister Mohammed Shia al-Sudani received high-ranking US and Iranian envoys separately for discussions of bilateral issues related to both countries.

Saudi Minister of Finance Mohammed Al-Jadaan arrives to attends the Euromoney conference in the Saudi capital Riyadh on May 2, 2018 . - The two-day conference will focus on Saudi Arabia's finance and investments.(Photo by FAYEZ NURELDINE/AFP via Getty Images)

Davos 2023: Saudi Arabia 'open' to discuss trading in non-dollar currencies

Qatar also voiced support for Elon Musk’s leadership of Twitter at the annual forum in Davos, Switzerland.

Lebanon's Central Bank Governor Riad Salameh gives an interview with AFP at his office in the capital Beirut on December 20, 2021. (Photo by JOSEPH EID/AFP via Getty Images)

Lebanon's Riad Salameh probe tops visit of European investigators

A European delegation is conducting an investigation into Lebanon’s banking system and the port explosion in the hope of providing some answers.

Pounds dollars

Egypt, facing economic crunch, restricts non-essential travel for government

The decision is the latest in a series of measures Egyptian public and private financial institutions are taking in an attempt to cope with the economic crisis.

A man counts Turkish liras at a currency exchange office, Istanbul, Turkey, July 29, 2020.

Turkey's inflation slows most in December in a boost to Erdogan

Facing crucial elections in spring, the Turkish government is trying to take credit for curbing inflation, even though the steep decline in the annual rate owes mostly to a favorable base effect.

A photograph taken in Dubai on January 4, 2022 shows the world's highest skyscraper Burj Khalifa. (Photo by GIUSEPPE CACACE/AFP via Getty Images)

2022 in review: Reforms, Ukraine war drive boost in UAE’s real estate market

Improved regulatory policies and diplomatic measures amid the Ukraine war have welcomed foreign direct investment and boosted the UAE real estate market in 2022 above the global average. 

A general view shows headscarves for sale at Khan al-Khalili market, Cairo, Egypt, May 20, 2016.

Secondhand clothes offer Egyptians respite as inflation skyrockets

With living expenses rising and temperatures dropping and inflation surging to a five-year high of 18.7%, many Egyptians are looking to buy secondhand clothes at Wekalat al-Balah, Egypt's most famous used clothing market in the center of Cairo

The Evergreen leaves the Suez Canal for the Mediterranean after the signing of the settlement contract, Ismailia, Egypt, July 7, 2021.

Egyptian official says Suez Canal 'not for sale' amid fears of foreign investment

The chairman of Egypt's Suez Canal Authority has responded after a parliamentary session discussing a private fund linked to the waterway sparked widespread criticism.

Dignitaries pose together in a family photo at the start of the Baghdad Conference for Cooperation and Partnership.

Iraqi PM stresses need for regional reconciliation at summit in Jordan

Iraqi Prime Minister Mohammed Shia al-Sudani attended the second round of the Baghdad conference today in Jordan and expressed Iraq's willingness to push forward on regional cooperation and partnership.

Amir Levy/Getty Images

Netanyahu’s new government will set Israel back, tech leaders warn

Mass letters to Prime Minister-designate Benjamin Netanyahu are warning that the legislation his coalition partners are currently advancing will harm Israel’s flourishing tech industry and beyond.