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

Business and Economy Cover Image

Economy & Business

Pictured in this undated image is the Al-Thawra oil field in Raqqa governorate, as rehabilitation works continue to restore production capacity.

Syria restores Raqqa oil field in former ISIS stronghold: What to know

Before Syria's civil war erupted in 2011, national oil production stood at between 400,000 and 500,00 barrels per day before falling to under 100,000 bpd during the conflict.

Guests stand at the Aramco booth during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi on Nov. 3, 2025.

Aramco profits jump 26% as Hormuz disruption chokes supply

Aramco CEO Amin Nasser said the market has already lost around 1 billion barrels of oil supply since the US-Israel-Iran war erupted on Feb. 28.

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

Kaja Kallas

EU restores economic pact to pursue fuller trade ties with Syria

The move marks a major economic step for Syria's recovery after its 13-year civil war and the fall of the Assad regime.

CN-STR / AFP via Getty Images

China’s overland trade routes offer Iran wartime economic lifeline: What to know

Cargo rail traffic between China and Iran has reportedly surged since the US blockade began in April as Tehran seeks overland trade alternatives to help buy time.

Latest News

What to know about Iran's 'Persian Gulf Strait Authority' to control Hormuz traffic

In this picture obtained from Iran's ISNA news agency on May 4, 2026, the Iran-flagged tugboat Basim sails near a ship anchored in the Strait of Hormuz off Bandar Abbas in southern Iran.

Egypt ramps up energy investments amid war-driven price pressures

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Few ships pass Hormuz despite US efforts to break Iran's hold

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

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

DOHA, QATAR - DECEMBER 15: A man looks out over the Doha skyline on The Corniche during the FIFA World Cup Qatar 2022 on December 15, 2022 in Doha, Qatar. (Photo by Alex Pantling/Getty Images)

Doha, Dubai ranked world’s top two cities for competitive job markets

The United Arab Emirates was the only country to have two cities on the top 10 list with both Dubai and the country’s capital Abu Dhabi at fifth.

Libya cryptomining

Libyan police detain 50 Chinese nationals in crypto farm bust

Media from the Tripoli Attorney General Office’s Facebook page show a dingy-looking, windowless room full of hardware, wires and servers being raided by authorities.

Bradley Beal, #3 of the Washington Wizards, drives around Jared Rhoden, #8 of the Detroit Pistons.

Qatar to buy stake in Washington Wizards, Capitals: reports

The move follows the National Basketball Association allowing sovereign wealth funds to invest in teams and Saudi Arabia’s Public Investment Fund merging its LIV Golf league with the PGA Tour, demonstrating Gulf investors' interest in US sports.

Fishing boats are moored at Karachi port as a part of precautionary measures before the due onset of cyclone, in Karachi on June 14, 2023. More than 40,000 people have been evacuated across India and Pakistan as a cyclone approaches their coast, officials said on June 13, with gales of up to 150 kilometres per hour predicted. (Photo by ASIF HASSAN / AFP) (Photo by ASIF HASSAN/AFP via Getty Images)

UAE signs agreement with Pakistan’s Karachi Port Trust

The Abu Dhabi Ports Group joint venture will invest heavily in the infrastructure development of the Port of Karachi over the next 10 years, with the bulk of it planned for 2026.

United Arab Emirates

An ad for hydrogen-powered cars.

Analysis

Oman sets sights on being Middle East leader in green hydrogen

The International Energy Agency said earlier this month that Oman is looking to significantly increase its domestic production of hydrogen from renewable electricity.

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

People queue to buy olive oil, which is sold cheaply by the Agricultural Products Office in Ankara, among soaring inflation in the country, Feb. 17, 2022.

Turkey hikes interest rates by 6.5 percentage points to 15%

The move by the central bank marks a dramatic departure from President Erdogan's yearslong policy of low rates.

A worker is seen at the Tawke oil refinery near the village of Zacho, in the autonomous Iraqi Kurdistan Region, May 31, 2009.

Analysis

How Iraq’s new budget affects oil arrangement with Kurdistan region

The success of Iraq's largest-ever budget is partially dependent on oil prices, and follows the federal government asserting more control over the Kurdistan Region's oil sector.

Adam Lucente

By Adam Lucente

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

Astra II rocket launchers open fire during military exercises at the Formosa Instruction Center in the state of Goias, 100 km from Brasilia, on August 16, 2021. - The armed forces mobilized 2500 soldiers to participate in the operation Formosa Operational Demonstration. (Photo by EVARISTO SA / AFP) (Photo by EVARISTO SA/AFP via Getty Images)

UAE defense firm EDGE and Brazilian navy sign anti-ship missiles deal

The agreement follows the United Arab Emirates participating alongside Brazil in the BRICS meeting earlier this month.

This photograph taken on June 7, 2023, shows an Qatar Airways Airbus A320 aircraft landing at the newly opened runway of Belgrade Nikola Tesla airport. The opening of Belgrade airport's new runway marked the completion of one of the major infrastructure projects undertaken by French operator Vinci, since taking over the concession in late 2018. (Photo by Andrej ISAKOVIC / AFP) (Photo by ANDREJ ISAKOVIC/AFP via Getty Images)

Qatar, Turkey, UAE airlines ranked among top 10 globally: Skytrax

Qatar Airways lost the top spot, while Saudia and Oman Air made big jumps.

France's President Emmanuel Macron greets Saudi Crown Prince Mohammed bin Salman as he arrives at presidential Elysee Palace in Paris, on June 16, 2023. French President Emmanuel Macron hosts Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, seeking to nudge the de-facto leader of the oil-rich kingdom into more full-throated support of Ukraine against the Russian invasion. (Photo by Ludovic MARIN / AFP) (Photo by LUDOVIC MARIN/AFP via Getty Images)

Analysis

Saudi-France business ties flourish as Macron woos MBS

Trade between the two countries came to $12 billion in 2022, a growth of 47% compared with 2021.

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

N'Golo Kante

N’golo Kante transfers to Saudi’s Al-Ittihad, soccer club confirms

The 32-year-old Frenchman’s contract at Stamford Bridge expires at the end of June and he will join the Saudi side after on a three-year contract.

Boats are anchored in the Dubai Creek surrounded by high-rise buildings in the Gult emirate, on February 18, 2023. - Home to towering skyscrapers and ultra-luxury villas, Dubai saw record real estate transactions in 2022, largely due to an influx of wealthy investors, especially from Russia. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Dubai leaps to world’s 7th most expensive city for luxury living, overtaking Paris, Zurich

The UAE finance hub made the top 10 list for the first time in Julius Baer’s global wealth index published Tuesday.

United Arab Emirates