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Economy & Business

Benoit Tessier / AFP via Getty Images

Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest

France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption.

Vehicles move along a main street in Saudi Arabia's holy city of Mecca on Sept. 16, 2026.

Explainer

Indonesia first foreign country to own property in Saudi Arabia's Mecca

Indonesia's sovereign wealth fund Danantara has received ownership certificates for the 2-billion-riyal ($531.4 million) acquisition of a hotel and 14 adjoining development plots.

FAYEZ NURELDINE/AFP via Getty Images

Saudi Arabia postpones 'Davos in the Desert' until 2027 amid Houthi attacks

The Future Investment Initiative, which typically attracts the CEOs of some of the biggest companies in business, finance, and technology to Riyadh, will now be held next year.

shoppers walking through the Tajrish Bazaar, a traditional market in Tehran

Analysis

As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege?

The country's last barrels of crude stockpiled beyond the reach of a US naval blockade fell to zero in October, raising the stakes for Tehran amid mounting economic distress.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Latest News

Analysis

How much oil can cushion another Middle East supply shock?

A vessel transits the Gulf of Oman

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

Explainer

Russian diesel heads to Morocco as supply crunch grips global markets

Fuel prices are displayed at a petrol station in Rabat

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

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)

Explainer

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

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)

Samuel Wendel

Senior Analyst, Middle East Business & Tech

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

Demonstrators lift flags during a protest against the Israeli government's judicial overhaul bill, in front of the stock exchange complex in Tel Aviv on July 18, 2023. The proposals have divided the nation and triggered one of the biggest protest movements in Israel's history since being unveiled in January by the hard-right government of Prime Minister Benjamin Netanyahu. (Photo by Menahem KAHANA / AFP) (Photo by MENAHEM KAHANA/AFP via Getty Images)

Israel's foreign investments drop 60% in first quarter of 2023

A report published by Israel's Finance Ministry suggests that foreign investments are decreasing, as are the number of Israeli startups sold to foreign companies.

People visit the stand of Spanish company Telefonica at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (Photo by Pau BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)

Spain investigates Saudi Arabia’s 9.9% acquisition of Telefonica

Saudi Arabia’s STC Group announced a 9.9% purchase in the $2.1 billion telecom company, but the Spanish government must approve the plan.

refugee camp

UN mulls green Islamic bonds to fund climate change refugee projects

The United Nations is reportedly interested in issuing Islamic bonds to help those displaced by climate change.

Russian President Vladimir Putin meets with UAE President Sheikh Mohamed bin Zayed al-Nahyan on the sidelines of the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 16, 2023. (Photo by Ilya PITALEV / SPUTNIK / AFP) (Photo by ILYA PITALEV/SPUTNIK/AFP via Getty Images)

Western diplomats visit UAE to discuss Russia ties, Ukraine sanctions

Western officials landed in the UAE on Monday, reportedly in a bid to keep computer chips, electronic parts and dual-use products away from Russia.

United Arab Emirates

Russian President Vladimir Putin (L) meets with Saudi Arabia's Crown Prince Mohammed bin Salman in Riyadh, Saudi Arabia, on October 14, 2019. (Photo by Alexey NIKOLSKY / SPUTNIK / AFP) (Photo by ALEXEY NIKOLSKY/SPUTNIK/AFP via Getty Images)

Oil prices surge as Saudi Arabia, Russia extend 1.3 million barrel cut through December

The production cuts by Saudi Arabia, Russia and the OPEC+ alliance have succeeded in keeping oil prices up but have also had some negative effects on the Saudi economy.

FAYEZ NURELDINE/AFP via Getty Images

Saudi-China cooperation strengthens with stock exchange deal

China is growing closer to Saudi Arabia politically and economically as business deals pile up.

Wind turbines

Islamic finance will be 'crucial part' of climate transition: UK official

The UK is seen as a Western hub for the industry due to its high presence of Islamic banks and more than 70 sukuk bonds being listed on the London Stock Exchange.

A customer buys US dollars in exchange for Turkish lira at an exchange office, Ankara, Turkey, July 20, 2023.

Turkey's annual inflation rate nears 60% in August

Turkey’s economy minister says the country’s struggle with runaway inflation will take time.

A cannabis field is seen in the village of Azila in Ketama region at the foot of the marginalized and underdeveloped mountainous region of Rif, Morocco, Sept. 16, 2022.

In Europe's cannabis market, Morocco faces stiff competition from Israel

President of China Xi Jinping (R) and South African President Cyril Ramaphosa (L) attend the China-Africa Leaders' Roundtable Dialogue on the last day of the 2023 BRICS Summit in Johannesburg on August 24, 2023. (Photo by ALET PRETORIUS / POOL / AFP) (Photo by ALET PRETORIUS/POOL/AFP via Getty Images)

What's driving Gulf interest to join BRICS?

Joining the bloc allows Gulf states to gain traction in their status and stake holding as providers of both a model of economic growth and development, and in the mechanisms to provide capital.

In Washington, DC, reporting on regional energy

UAE NZ

UAE trade offensive continues, this time with New Zealand deal

The UAE is looking to secure its sixth trade agreement of the year as it increases its non-oil trade globally, with intentions to reach $1.09 billion by 2031.

United Arab Emirates

President of Brazil Luiz Inacio Lula da Silva speaks during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 22, 2023. (Photo by GIANLUIGI GUERCIA / AFP) (Photo by GIANLUIGI GUERCIA/AFP via Getty Images)

Brazil set to capitalize on Saudi-UAE competition as investments take shape

South America’s largest economy has been actively engaging with the UAE and Saudi Arabia under newly reelected President Luiz Inácio Lula da Silva.

Samuel Wendel

In Washington, DC, reporting on regional business and tech