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Economy & Business

Saudi Arabia football supporters wave flags

China-Saudi consortium wins $306M World Cup stadium deal: What to know

The project is a vote of confidence to Saudi Arabia's ambitious Vision 2030 agenda to diversify the economy away from oil, despite an uptick in attacks by Yemen's Houthi rebels on the kingdom in recent weeks.

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.

Latest News

Explainer

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

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

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

FAYEZ NURELDINE/AFP via Getty Images

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

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

Dubai economy

Oil leaves invisible footprint on Gulf's non-oil economies

Touted progress in diversifying Gulf economies beyond the fossil fuel rent comes with a caveat. Oil and gas revenues indirectly propel large chunks of the non-oil economy through public expenditures such as wages, subsidies and infrastructure spending.

Visitors view a TAI/AgustaWestland T129 ATAK attack helicopter on display at the Turkish Aerospace stand during the Naval Defence and Maritime Security Exhibition (NAVDEX), part of the wider International Defence Exhibtion (IDEX) at the Abu Dhabi International Exhibition Centre on February 20, 2023. (Photo by Ryan LIM / AFP) (Photo by RYAN LIM/AFP via Getty Images)

Economic arsenals: the Middle East’s rise as a global defense industry hub

The Mideast's defense market is evolving, motivated by a desire to secure greater self-sufficiency and national sovereignty.

Dubai free trade zone

Dubai free zone reports 24% increase in Chinese companies

The Dubai Multi Commodities Center has more than 770 Chinese companies in its free trade zone.

United Arab Emirates

Justin Rose of England and his caddy look on.

US Justice Department investigating Saudi LIV Golf-PGA Tour merger: reports

The revelation follows action taken by some members of Congress in response to the Saudi sovereign wealth fund-backed golf league’s deal with the US-based PGA Tour.

A general view of the Kingdom of Saudi Arabia pavilion at COP26 on Nov. 10, 2021, in Glasgow, Scotland.

Analysis

Saudi Arabia's carbon credit exchange: climate action or greenwashing?

Sixteen firms, including Aramco, Saudi Airlines, Saudi Electricity Company and NEOM subsidiary ENOWA, bought more than 2.2 million tons of carbon credits in Nairobi on Wednesday.

By Salim A. Essaid

KHALED DESOUKI/AFP via Getty Images

Egypt remittances plunge amid economic uncertainty

Money transfers through official channels by Egyptians working abroad plummeted by 23% during the second half of 2022, reaching the lowest level since the 2016 crisis.

A worker is seen at the Kuwait Global Steel Services factory in Kuwait City on December 5, 2018. (Photo by Yasser Al-Zayyat / AFP) (Photo credit should read YASSER AL-ZAYYAT/AFP via Getty Images)

Gulf industrialization potential gains traction

The global push to decarbonize supply chains and the rise of a multipolar world is an opportunity for the Gulf to emerge as an energy-rich industrial hub equidistant from Asia, Africa and Europe.

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

View of the cottage village in the suburbs of Alanya, also known as the Turkish Riviera.

Russia, Iran, Ukraine nationals top Turkey's real estate market for foreigners

Official data shows the number of foreign real-estate buyers has increased in May from the previous month.

Uber

Uber to exit Israel as market share disappoints

In Israel, Uber is trailing behind Israeli-founded Gett and Russian-owned company Yango when it comes to taxi and private vehicle hire.

Emmanuel Macron Mohammed bin Salman

Saudi Arabia's MBS heads to France to meet Macron, attend business summits

The two leaders will meet Friday and discuss bilateral relations as well as Middle Eastern and international issues including the war in Ukraine.

Cars drive along a street in front of high-rise buildings in Dubai on Feb. 18, 2023.

UAE ranked first globally in attracting new millionaires in 2022

The UAE had the highest net inflow of millionaires in the world in 2022, while China had the highest net outflow, followed by India and the United Kingdom.

United Arab Emirates

A picture taken on September 15, 2019 shows the entrance of an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. - Saudi Arabia raced today to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed thi weekend's strikes on two plants owned by state giant Aramc

Saudi Aramco tops Middle East companies for 2023: Forbes

The Saudi oil giant continues to perform well on the back of oil prices. The list also revealed strong performances by several Moroccan banks.