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Economy & Business

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

People walk past a cryptocurrency exchange office with a screen featuring US President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025.

Trump earns $810M from UAE-backed crypto firm: What to know

According to the disclosure, Trump earned $810 million from crypto token sales and sales of interests in UAE-backed World Liberty Financial.

United Arab Emirates

Omar Albaw / Middle East Images / AFP via Getty Images

Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.

Latest News

Here's what to know about Iraq's corruption as Zaidi launches crackdown

AHMAD AL-RUBAYE / AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

AFP via Getty Images

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Olivier Badard

CEO of Armada Holding

Analysis

Why the Hormuz oil shock never became an energy catastrophe

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

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

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Francisco Serrano

In Lisbon, reporting on North Africa business

The US Federal Reserve Building is seen in Washington on May 3, 2023.

Gulf central banks raise interest rates after US Federal Reserve decision

Gulf central banks also held firm in June when the Fed paused its rate hikes.

Turkey market

Turkey’s tax hikes squeeze consumers amid growing deficit

The Central Bank’s high-profile governor Hafize Gaye Erkan makes her first appearance before the press and economists as Turkish consumers feel the burden of price and tax hikes that continued throughout July.

People look at a Turkish attack helicopter "T129 ATAK" on May 9, 2017 during the opening day of the 13th International Defense Industry Fair (IDEF) in Istanbul. / AFP PHOTO / YASIN AKGUL (Photo credit should read YASIN AKGUL/AFP via Getty Images)

China, UAE overtake US companies at Turkey’s IDEF 23 weapons fair

During the 15th edition of the IDEF in 2021, the global fair saw more than a thousand companies from 53 countries attend and had more than 94 signing ceremonies take place.

A picture taken on January 14, 2023, shows the Kingdom Centre tower in the Saudi capital Riyadh. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

IMF dims 2023 Middle East outlook as Saudi Arabia's growth slows

The International Monetary Fund's projections for the Middle East and North Africa are down slightly in its latest report.

OPEC President UAE Energy Minister Suhail al-Mazrouei (C) speaks as he sits with Minister of Energy of Russia Alexander Novak (left) and OPEC Secretary General Mohammed Sanusi Barkindo (r) of Nigeria during a meeting at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) with OPEC members and non-OPEC members in Vienna, Austria on December 7, 2018. (Photo by JOE KLAMAR / AFP) (Photo credit should read JOE KLAMAR/AFP via Getty Images)

UAE joins India's Global Biofuel Alliance on clean energy ahead of COP28

The UAE minister of energy and infrastructure announced Wednesday that his country is a willing participant in the global alliance and has been investing heavily in biofuels.

A flame from a Saudi Aramco oil installion known as "Pump 3" is seen in the desert near the oil-rich area of Khouris, 160 kms east of the Saudi capital Riyadh, on June 23, 2008. Oil producers are at war with speculators but they have been left speculating themselves over the future of their precious commodity after a unique summit, analysts said. Government ministers and traders alike are anxiously waiting to see which way prices go in coming weeks after Sunday's summit of consumers and producers, which Sau

Saudi oil exports hit new low, dropping by more than one-third

In May of this year, Saudi Arabia’s value of oil exports hit a low of just over $19 billion, reported the kingdom’s General Authority for Statistics. This includes both crude and refined products.

JACK GUEZ/AFP via Getty Images

Morgan Stanley lowers Israel’s sovereign credit as Moody's issues warning

Protests are mounting over the controversial judicial reforms, and the leading credit agency downgraded Israel earlier this year.

Hind Omar, an Egyptian woman metro train driver, poses through the entrance of a life-size train simulator at Adly Mansour station in the capital Cairo's northeastern neighbourhood of Heliopolis on May 31, 2022. - As it prepares to expand to serve a population now exceeding 20 million, the Cairo metro has recruited Egypt's first female train drivers, a novelty in a country where few women have formal jobs. Since April, commuters on the network's newest line have seen women take the controls in the driver's

Egypt’s bid to develop rail sector put to test by dire economic headwinds

The mission ahead to revamp Egypt's train network is daunting, especially at a time when the country faces serious economic woes.

Marc Español

Ursula von der Leyen

EU commission sees Tunisia's migration deal as 'blueprint' for region

On July 16, the bloc agreed to spend 100 million euros on Tunisia to combat human trafficking and illegal crossings of the Mediterranean Sea.

Kylian Mbappe of Paris Saint-Germain in action during the Ligue 1 match between Paris Saint-Germain and Clermont Foot at Parc des Princes, Paris, France, June 3, 2023.

Saudi Arabia's Al-Hilal makes record $332 million bid for soccer star Mbappe

Mbappe’s current club Paris Saint-Germain confirmed that the formal offer for its player took place.

The Vladimir Rusanov, a liquefied natural gas (LNG) Russian tanker ship.

Dampened China demand driving up Middle East purchases of Russian oil

China's appetite for fuel oil has been slowly increasing since the COVID-19 pandemic when the country implemented some of the strictest lockdowns in the world.

A Royal Moroccan Air Force CH-47 Chinook military helicopter takes off during the second annual "African Lion" military exercise in the Tan-Tan region in southwestern Morocco on June 30, 2022. (Photo by FADEL SENNA / AFP) (Photo by FADEL SENNA/AFP via Getty Images)

Supply and demand: North African military expenditures raise stakes for global defense suppliers

North Africa features three countries that rank among the world’s top 30 arms importers, but the region currently lacks any significant arms exporters.