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Economy & Business

Pictured in this undated image is the Al-Thawra oil field in Raqqa governorate, as rehabilitation works continue to restore production capacity.

Syria restores Raqqa oil field in former ISIS stronghold: What to know

Before Syria's civil war erupted in 2011, national oil production stood at between 400,000 and 500,00 barrels per day before falling to under 100,000 bpd during the conflict.

Guests stand at the Aramco booth during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi on Nov. 3, 2025.

Aramco profits jump 26% as Hormuz disruption chokes supply

Aramco CEO Amin Nasser said the market has already lost around 1 billion barrels of oil supply since the US-Israel-Iran war erupted on Feb. 28.

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

Kaja Kallas

EU restores economic pact to pursue fuller trade ties with Syria

The move marks a major economic step for Syria's recovery after its 13-year civil war and the fall of the Assad regime.

CN-STR / AFP via Getty Images

China’s overland trade routes offer Iran wartime economic lifeline: What to know

Cargo rail traffic between China and Iran has reportedly surged since the US blockade began in April as Tehran seeks overland trade alternatives to help buy time.

Latest News

What to know about Iran's 'Persian Gulf Strait Authority' to control Hormuz traffic

In this picture obtained from Iran's ISNA news agency on May 4, 2026, the Iran-flagged tugboat Basim sails near a ship anchored in the Strait of Hormuz off Bandar Abbas in southern Iran.

Egypt ramps up energy investments amid war-driven price pressures

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Few ships pass Hormuz despite US efforts to break Iran's hold

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

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

This photograph taken on February 9, 2023 shows the nuclear power plant of Golfech in the southwestern of France. (Photo by MATTHIEU RONDEL/AFP via Getty Images)

Saudi Arabia moves forward with bids for nuclear plant

The kingdom has received bids to build its first nuclear power plant and South Korea is reportedly expressing interest.

New banknotes of Israel background.

Analysis

Israel raises interest rates in eighth consecutive hike in 10 months

Fighting rising inflation, Bank of Israel Gov. Amir Yaron took the unpopular decision of increasing the interest rates to 4.25%.

Danny Zaken

In Ma'ale HaHamisha, reporting on Israel

LEBANON-VOTE A Lebanese army soldier mans the turret of a humvee (HMMWV) while on patrol in the southern city of Nabatiyeh, on May 15, 2022 during the national parliamentary elections. (Photo by Mahmoud ZAYYAT / AFP) (Photo by MAHMOUD ZAYYAT/AFP via Getty Images)

Lebanon’s army suffers with currency collapse as desertions mount

The drastic devaluation of wages threatens soldiers’ performance in the tumultuous period Lebanon is going through.

TOPSHOT - A picture shows a view of the Dubai skyline, including Burj Khalifa the worlds tallest building, in the United Arab Emirates, on June 20, 2022. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Emerging Gulf tax order to challenge family businesses

Increasing taxation across the GCC will be felt most acutely by family-owned businesses that have turned non-universal taxation to their benefit for decades.

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

The Dubai metro track is seen along Dubai's Shiekh Zayed road on September 09, 2009, as the UAE opens its new metro network in a bid to cut dependency on cars and ease congestion. Dubai is the first city in the oil-rich Gulf to introduce rail as a commuting option. (Photo by KARIM SAHIB/AFP via Getty Images)

New rail network on track to bring billions into UAE economy

The railway will serve the UAE’s sustainability goals by reducing carbon emissions in the road transportation sector.

Russia's Rosoboronexport displayed more than 200 combat-tested weapons at an isolated pavilion.

UAE's IDEX weapons fair brings in Russia, China, and billion-dollar deals

The United Arab Emirates’ defense expenditure amounted to $22.5 billion last year and is expected to reach $28.6 billion by 2027.

People walk past a pedlar selling tangerines along a street in the Azhar district of Egypt's capital Cairo on January 16, 2023. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Egypt’s inflation to remain above central bank target in 2023

Inflation in Egypt will most likely continue to rise in the coming months to peak above 30% by mid-year, well above the government’s target.

Marc Español

Men look at currency exchange rates at an exchange shop in Tehran on Feb. 21, 2023. Iran's currency plunged to new lows on Jan. 20 amid fresh European Union sanctions, crossing the psychologically important rate of 500,000 rials to a dollar in foreign exchange markets.

Iran's currency dips to all-time low, basic prices skyrocket

Recently launched government plans to restore stability to the troubled foreign exchange market proved no remedy, as ordinary Iranians continue to see their pockets shrink.

KIRILL KUDRYAVTSEV/AFP via Getty Images

In shift away from US dollar, Iraq to allow trade with China in yuan

Some countries in the region are increasingly looking away from the dollar.

Russian President Vladimir Putin is seen on a screen set at Red Square as he addresses a rally and a concert marking the annexation of four regions of Ukraine Russian troops occupy - Lugansk, Donetsk, Kherson and Zaporizhzhia, in central Moscow on September 30, 2022. (Photo by ALEXANDER NEMENOV/AFP via Getty Images)

Al-Monitor/Premise poll: Russia's role seen as negative in Turkey, Yemen, Iraq

The Russian invasion of Ukraine hurt the region economically, as supply chain disruptions and food shortages topped respondents concerns in Turkey, Egypt, Yemen and Iraq

SAMEER AL-DOUMY/AFP via Getty Images

Turkey’s Central Bank slashes interest rates after devastating earthquakes

The move is likely aimed at weathering the fallout from the devastating earthquakes in accordance with the Turkish government's economy policy to prioritize economic growth at the expense of inflation.

Indian Prime Minister Narendra Modi (R) shares a light moment with Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan at Hyderabad House in New Delhi on February 11, 2016. The crown prince is on a three-day state visit to India until February 12. AFP PHOTO / Money SHARMA / AFP / MONEY SHARMA (Photo credit should read MONEY SHARMA/AFP via Getty Images)

US, India, UAE, Israel convene I2U2 forum in Abu Dhabi

The meeting builds on the food security initiative spearheaded by President Joe Biden in 2021 in preparation for global climate change.