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Economy & Business

Foreign Ministry Spokesperson Lin Jian holds a press conference on Aug. 19, 2026.

China slams Trump over economic war on Iran: What to know

China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions.

Iranians drive past an anti-US billboard at Enghelab Square in central Tehran, Aug. 3, 2026.

Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94

In a Truth Social post, the president threatened that any country that provides a financial lifeline to Iran will face "tremendous economic consequences."

AHMAD AL-RUBAYE / AFP via Getty Images

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

As Iran's parliament speaker holds talks in Baghdad, Iraq has asked Tehran for special consideration for its oil exports.

Latest News

Turkey looks to expand Syria energy footprint into oil, gas

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Leon Neal/Getty Images

United Arab Emirates

Explainer

What US sanctions on Syria remain as Shibani, Barrack hold talks?

RAMI AL SAYED/AFP via Getty Images

UAE billionaire Habtoor takes aim at Ben Gvir’s Gaza rhetoric

A picture take on Sept. 13, 2017, shows Khalaf Ahmad Al Habtoor, chairman of the Al Habtoor Group, attending the World Premiere of La Perle in Dubai.

United Arab Emirates

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

UK investment minister Dominic Johnson in Kuwait

UK investment minister: GCC trade deal would develop AI, fintech sectors

In 2022, trade between the UK and GCC countries amounted to 33.1 billion pounds ($42.6 million).

The front page of the Hurriet Daily news displays a headline of yesterdays interest rate hike at a news stand on June 23, 2023 in Istanbul, Turkey. The Turkish Lira weakened to a record low of 25.74 against the dollar, a day after the central bank hiked interest rates from 8.5 percent to 15 percent in the first rate decision since the appointment of new central bank governor Hafize Gaye Erkan and the re-election of President Recep Tayyip Erdogan last month. (Photo by Chris McGrath/Getty Images)

Erdogan taps ex-NY Fed official as Turkey's deputy Central Bank head

In a major reshuffle, the Turkish president has dismissed all three deputy Central Bank governors as his government ramps up efforts to regain the confidence of Western investors.

A file picture shows Kuwait's largest oil refinery at Al-Ahmadi complex, about 40 kilometers (25 miles) south of the capital Kuwait City, Kuwait, Nov. 21, 2014.

Kuwait to begin drilling in disputed gas field with Iran

Kuwait and Saudi Arabia’s dispute with Iran over the Durra gas field is coming amid improved ties between Iran and the Gulf.

ADEM ALTAN/AFP via Getty Images

Turkey’s Central Bank raises year-end inflation forecast to 58%

Turkey’s new Central Bank Governor Gaye Erkan reiterated the bank’s commitment to tighter monetary policy, but maintained that the shift would be gradual.

Stacks of Iraqi dinars are seen at a currency exchange shop, Baghdad, Iraq, Feb. 14, 2023.

Iraqi dinar falls 17% against dollar amid US restrictions over Iran deals

The current depreciation follows 14 Iraqi banks being barred from using the dollar amid a crackdown on smuggling to Iran.

France's forward Kylian Mbappe kicks the ball during the UEFA Euro 2024 group B qualification football match between France and Greece at the Stade de France in Saint-Denis, in the northern outskirts of Paris, on June 19, 2023. (Photo by FRANCK FIFE / AFP) (Photo by FRANCK FIFE/AFP via Getty Images)

Kylian Mbappe declines Saudi meeting to discuss record $333 million transfer

A report from L'Equipe newspaper said that the French captain never considered a move to Saudi Arabia.

Guests attend the Global AI 2020 (Artificial Intelligence) Summit in the Saudi capital Riyadh on October 21, 2020

Middle East startups navigate funding crunch as global venture slump deepens

A once hot venture market for Middle East startups is cooling amid an enduring global investment slump.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

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.