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Economy & Business

The Chinese-flagged container shipping vessel Hui Fa transits the Gulf of Oman off the coast of Khor Fakkan in the emirate of Sharjah east of the UAE, on Oct. 13, 2026.

Gulf oil exports surpass prewar levels despite escalating tanker attacks

According to data from Kpler, oil shipments through the Strait of Hormuz and alternative routes across the Middle East averaged more than 24 million barrels a day last week, surpassing prewar levels of 23.3 million.

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

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.

Latest News

Analysis

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

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

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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)

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’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.

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