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

Business and Economy Cover Image

Economy & Business

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

People walk past a cryptocurrency exchange office with a screen featuring US President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025.

Trump earns $810M from UAE-backed crypto firm: What to know

According to the disclosure, Trump earned $810 million from crypto token sales and sales of interests in UAE-backed World Liberty Financial.

United Arab Emirates

Omar Albaw / Middle East Images / AFP via Getty Images

Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.

Latest News

Here's what to know about Iraq's corruption as Zaidi launches crackdown

AHMAD AL-RUBAYE / AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

AFP via Getty Images

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Olivier Badard

CEO of Armada Holding

Analysis

Why the Hormuz oil shock never became an energy catastrophe

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

A picture taken on Oct. 31, 2017, shows advertising billboards in Cairo for "WE," a new mobile service from Egypt's state-owned company Telecom Egypt.

Will Telecom Egypt stake sale help country achieve IMF reforms?

An expert said it was "unclear” whether the sale helped solve Egypt’s “key problem” of accessing hard currency.

The flags of Iran (R) and of the UAE (L).

UAE official discusses cooperation with Iran’s roads minister

The UAE and Iran continue to maintain cordial economic and political ties, despite US pressure.

United Arab Emirates

Traders work at their desks on the floor of the Borsa Istanbul in Istanbul, Turkey, May 22, 2018.

Turkey’s main stock index falls after election stalemate

The Turkish stock market rallied last week as opposition leader Kemal Kilicdaroglu gained momentum in the race to defeat President Recep Tayyip Erdogan.

Refugees cross into Egypt through the Argeen land port with Sudan, April 27, 2023.

Egypt’s economy braces for new hit from Sudan conflict

Egypt fears that a prolonged conflict in Sudan, a major market for its exports, will add to its economic hardships.

Dubai port

Dubai’s DP World signs deals with China seaport companies in latest push

Ningbo-Zhoushan port said it will boost its Dubai station project as part of China’s Road and Belt Initiative.

United Arab Emirates

Indian Prime Minister Narendra Modi (R) shakes hands with Saudi Crown Prince Mohammed bin Salman prior to a meeting at Hyderabad House in New Delhi on February 20, 2019. - Saudi Arabia's Crown Prince Mohammed bin Salman received a warm welcome in India on February 20, with Riyadh eager to demonstrate it is not an international pariah after the murder of journalist Jamal Khashoggi in October. (Photo by MONEY SHARMA / AFP) (Photo credit should read MONEY SHARMA/AFP via Getty Images)

In Saudi, US embraces a West Asia architecture with India, UAE

New relationships across the continent may promote both economic development and security.

This picture shows the swimming pool of a luxury villa for sale on one of the Palm Jumeirah man-made island, on the coast of the Gulf emirate of Dubai, on May 19, 2021. - Dubais property market is powering out of a six-year malaise as "lockdown dodgers" and wealthy international investors drive a buying frenzy that is breaking records and fuelling an economic recovery. Luxury villas are the hottest segment in the market, with European buyers in particular seeking homes on Dubais signature Palm Jumeirah man-

Dubai’s real estate, cost of living conundrum creates opportunities for Gulf rivals to capitalize

The UAE’s red-hot real estate market could price out many expats and drive them towards neighboring countries, greatly impacting the regional competition to become a global business hub.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

NATALIA KOLESNIKOVA/AFP via Getty Images

Russia’s Tatneft makes new oil discovery in Libya

Russia and the controversial military contractor Wagner Group have longstanding interests in Libya’s oil, but instability has hurt the ability of Russian oil companies to operate in the North African country.

Lionel Messi Argentina

FC Barcelona 'hugely confident' on Messi return despite Saudi bid

The Catalonian soccer team are in a tug-of-war with Saudi Arabian team Al Hilal to snap up the 2022 World Cup winner.

UAE China flags

HSBC projects strong China-Middle East economic growth

In 2021, trade between countries of the Gulf Cooperation Council (GCC) and China surpassed GCC trade with the United States and Europe for the first time, according to the IMF.

GIUSEPPE CACACE/AFP via Getty Images

Analysis

Saudi Aramco, high-value IPOs face impending pressure in 2023

The United Arab Emirates saw the world’s largest IPO of first quarter 2023, with ADNOC Gas PLC raising $2.5 billion on the Abu Dhabi Securities Exchange.

By Salim A. Essaid

A man walks past a shop selling replicas of Ancient Egyptian statuettes, figurines, and canopic jars at the Khan el-Khalili bazaar area in Egypt's capital Cairo on June 3, 2021. - Pyramids, Tutankhamun masks, Nefertiti busts -- Egypt's souvenir craftspeople are pinning their hopes on a new lease of life, after tourism was battered by the coronavirus pandemic. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Egypt: Leading textile executive pushes for low-interest loans to save industry

Textile manufacturing is Egypt’s second-largest industry, but it was severely impacted by the pandemic and now the country’s economic downturn.