Economy & Business - AL-Monitor: The Middle Eastʼs leading independent news source since 2012

Business and Economy Cover Image

Economy & Business

NIKITA BORISSOV/AFP via Getty Images

Russia agrees to supply Iran with 55 bcm of gas, fund nuclear plant: What to know

Iranian Oil Minister Mohsen Paknejad is in Moscow this week, meeting with Russian Energy Minister Sergei Tsivilev on Friday.

Syrian President Ahmed al-Sharaa (2nd R) leaves a bilateral room after his meeting with Qatar's minister of foreign affairs during the Antalya Diplomacy Forum, Antalya, April 11, 2025.

UK lifts sanctions on Syrian ministries, intelligence agencies

It marks the second raft of sanctions on Syria lifted by the United Kingdom since the toppling of long-time dictator Bashar Al-Assad in December and the formation of a new government.

Saudi Arabia, UAE, Qatar face uneven 2025 growth as trade tensions rise: IMF

While Gulf economies face only the Trump administration’s baseline 10% tariffs, the levies have already impacted oil prices and revenue, especially for rentier states like Saudi Arabia.

Employees stand behind stacks of local currency notes as they serve clients at an exchange shop in Damascus, on April 16, 2025.

IMF appoints first Syria mission head in 14 years: What to know

Syria's new government faces the task of revitalizing an economy that has been devastated by 14 years of war and ravaged by international sanctions.

Latest News

Analysis

Why low oil prices under Trump are unlikely to curb Middle East output

Excess flammable gasses burning from gas flares at the Havana oil field, west of the multi-ethnic northern Iraqi city of Kirku, Oct. 17, 2017.

In Bristol, reporting on regional business, climate change, AI, tech

GCC-Indonesia economic ties deepen with Saudi MoUs, joint Qatar fund

Jakarta

Turkey hikes interest rate to 46% amid turmoil over Imamoglu’s arrest

People walk past a currency exchange board showing the Turkish Lira which fell to historic lows against the dollar after the news of the arrest of Istanbul Mayor Ekrem Imamoglu on March 19, 2025 in Istanbul, Turkey.

Turkey's budget deficit narrows to $6.8B in March as lira fluctuates

A picture taken on Dec. 7, 2021, in Istanbul shows Turkish liras.

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Jennifer Gnana

Gulf Correspondent

In Dubai, reporting on Gulf energy policy and politics

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Sebastian Castelier

In Dubai, reporting on regional business

Turkey's Minister of Finance Mehmet Simsek takes part in a panel discussion during the Doha Forum in the Qatari capital on December 7, 2024. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

Turkey's Simsek says economy will ride out Trump tariffs without lasting scars

Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop.

Thomas Kronsteiner/Getty Images

OPEC+ members boost output as Trump tariffs bring down oil prices

The US president has been calling on Saudi Arabia and other top oil producers to boost production and bring down prices.

WASHINGTON, DC - APRIL 02: U.S. President Donald Trump speaks during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as “Liberation Day”, Trump announced additional tariffs targeting goods imported to the U.S. (Photo by Chip Somodevilla/Getty Images)

How Trump's latest tariffs impact the Middle East

Gulf countries were relatively spared, with the US imposing only a 10% tariff, whereas other Middle Eastern nations are facing steeper trade penalties.

The PwC Tower, or Libeskind Tower, Milan, March 12, 2021.

Analysis

Can Gulf states slash costly reliance on Western consultancies?

A one-year ban on PwC acquiring work in Saudi Arabia has highlighted the Gulf states' dependency on Western firms and the need to develop local consultancies and talent.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A couple hold their son's hands as they herd sheep near the village of Amellagou where Morocco's last nomads reside, on Sept. 2, 2022.

Morocco's economic growth slows as drought, locusts deplete farmland

The North African country is grappling with a sixth year of drought, the longest in Morocco’s modern history.

A protestor waves a Turkish flag in front of riot police during a rally in support of Istanbul's arrested mayor in Istanbul, March 24, 2025.

Analysis

Turkey turmoil tests Gulf investors as crackdown fuels market unease

Improved relations with Saudi Arabia and the United Arab Emirates had raised Ankara's hopes for a dealmaking boom, but the arrest of Istanbul's mayor could jeopardize it.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Jared Kushner, founder and CEO of Affinity Partners, and Steve Witkoff, US Middle East envoy, during a panel discussion at the FII Priority summit, Miami Beach, Feb. 20, 2025.

UAE, Qatar investments fuel Jared Kushner's firm assets to $4.8 billion

Commitments from Abu Dhabi–based asset manager Lunate and the Qatar Investment Authority, the sovereign wealth fund, increased Affinity’s assets by $1.5 billion over a year.

United Arab Emirates

US President Donald Trump announces tariffs on auto imports in the Oval Office of the White House in Washington, on March 26, 2025.

Gulf markets dip after Trump announces 25% automotive tariffs

Donald Trump announced on Wednesday 25% tariffs on imported cars and light trucks entering the United States, set to take effect on April 2, further fueling the ongoing trade war and contributing to market volatility.

Men inspect an electric car at a showroom in Riyadh, on June 8, 2024.

Tesla to launch in Saudi Arabia next month as Musk-PIF tension cools

Tesla said it would hold a launch event in Riyadh on April 10 to display its electric vehicles and other products, including solar energy solutions and battery technology.

China's President Xi Jinping (L) shakes hands with Egypt's President Abdel Fattah al-Sisi

Egypt, China ink $1.65B deal for steel factories in Suez: What we know

The deal was signed by Egypt’s General Authority of the Suez Canal Economic Zone and the Industrial Development Authority with Xin Feng Egypt Steel and its parent company, Xin Feng China as Cairo-Beijing ties grow closer.

Yasser Hassan

Exclusive

'Cloud First' policies give Saudi Arabia, UAE edge in AI race: Amazon exec

In March 2024, AWS announced plans to invest $5.3 billion in Saudi Arabia to launch a cloud infrastructure region in the kingdom by 2026.

In Bristol, reporting on regional business, climate change, AI, tech

chip

How UAE AI firm's past China links stalled this US chipmaker's IPO

Cerebras Systems executives had been hoping that the Trump administration would fast-track the national security review that has left the chipmaker’s initial public offering in limbo for five months, Reuters reported Tuesday.

United Arab Emirates