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Economy & Business

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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

ADEM ALTAN/AFP via Getty Images

Turkey ends lira protection scheme as banks tally up damage

With Turkey’s inflation on course to hit 70% by the year-end, the plan to convince depositors to shift to regular deposits with yields well below the inflation rate appears unviable.

Nassr's Portuguese forward #07 Cristiano Ronaldo shoots during the AFC Champions League playoff football match between Saudi's Al-Nassr and UAE's Shabab Al-Ahli at the King Saud University Stadium in Riyadh on August 22, 2023. (Photo by Yazid al-Duwihi / AFP) (Photo by YAZID AL-DUWIHI/AFP via Getty Images)

Saudi Arabia’s soccer spending spree reshapes Middle East sports sector

The kingdom is gunning to become a professional sports powerhouse.

PATRICK BAZ/AFP via Getty Images

Lebanon’s acting central bank chief pleads for reform as crisis continues

Wassim Mansouri has been urgently calling on the Lebanese government to enact reforms since becoming acting governor of Banque du Liban following the end of the embattled Riad Salameh’s term.

WANG ZHAO/AFP via Getty Images

Saudi Arabia mulls Chinese bid to build nuclear plant

The news will irk Washington, which wants Riyadh to not be able to develop nuclear weapons.

Turkmenistan gas

Iraq to receive gas from Turkmenistan

Iraq is largely dependent on Iran for gas, despite having its own sizable reserves. The relationship has been complicated by US sanctions on Iran, and Iraq is also seeking international help to utilize its gas reserves.

Oil and gas

Fossil fuel subsidies in Middle East nearly doubled since 2020, says IMF

The fund said that fossil fuel companies globally benefited from $13 million in subsidies per minute last year.

People wait to exchange money at a currency exchange shop on June 23, 2023 in Istanbul, Turkey.

Turkey’s Central Bank shifts gears, hikes interest rates to 25%

The 750 basis point rise was higher than analysts' expectations, prompting lira to rebound from a record low.

BRICS summit 2023

Egypt, Iran, Saudi Arabia, UAE to join BRICS

The Shanghai-headquartered New Development Bank, or so-called “BRICS bank”, had already admitted the UAE and Egypt as shareholders.

Israel gas

Israel to export more gas to Egypt as cooperation grows

Israeli-Egyptian cooperation on gas matters has increased significantly in recent years, despite Egyptian criticism of Israeli policy towards the Palestinians.

Turkey lira

Turkey’s lira sinks further as currency protection scheme changes

Banks are upset with a Central Bank plan to move depositors’ savings out of accounts designed to protect the lira’s value.

A general view during MDLBEAST SOUNDSTORM 2021 on Dec. 19, 2021, in Riyadh, Saudi Arabia.

Saudi Arabia's SRMG invests in music streamer Anghami, Spotify’s Middle East rival

Beirut-founded Anghami is the most popular music streaming platform in the MENA region, with 120 million registered users, up from 75 million in 2021.

JOSEPH EID/AFP via Getty Images

Lebanon rolls out waste management project

For years, Lebanon's trash has been burned in open dumps, with dangerous environmental and health effects.