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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

Russian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022. - Iran's president will host his Russian and Turkish counterparts for talks on the Syrian war in a three-way summit overshadowed by fallout from the Russian invasion of Ukraine. (Photo by Sergei SAVOSTYANOV / SPUTNIK / AFP) (Photo by SERGEI SAVOSTYANOV/SPUTNIK/AFP via Getty Images)

Iran, Russia ink $1.6 billion rail deal to rival Suez Canal

Iran and Russia agreed to build a railway between two Iranian cities as they continue to develop their trade relations despite US sanctions.

Alejandro Garnacho of Manchester United scores the team's second goal whilst under pressure from Nelson Semedo of Wolverhampton Wanderers during the Premier League match between Manchester United and Wolverhampton Wanderers at Old Trafford on May 13, 2023 in Manchester, England. (Photo by Clive Brunskill/Getty Images)

Qatari royal submits last-ditch $6.2 billion offer for Manchester United

The updated offer, submitted Tuesday, is believed to be close to £5 billion ($6.2 billion) but shy of the current owners’ £6 billion ($7.4 billion) valuation for the soccer club.

People attend the International E-Sport Gamers forum "Next World" in the Saudi capital, Riyadh, on Sept. 7, 2022.

Saudi Arabia increases stake in EA gaming by 55%

The PIF held 16.01 million shares in Electronic Arts (EA) before Q4 2022, but after Q1 2023, it held 24.81 million shares.

This picture shows fuel trucks parked near silos at the Saudi Aramco oil facility in Saudi Arabia's Red Sea city of Jeddah, Nov. 24, 2020.

Petrochemicals take center stage in Gulf’s new oil playbook

Building on experience gained from decades of exporting low value crude oil that fueled the global economy, Gulf countries beef up production capacities of higher value petroleum products to bring a greater chunk of the oil’s value chain closer to home.

Lebanon's Central Bank Governor Riad Salameh gives an interview with AFP at his office in the capital Beirut on December 20, 2021.

France seeks arrest of Lebanon's Riad Salameh after no-show for corruption probe

Riad Salameh, 72 years old, is currently being probed by Lebanese authorities and European countries including Switzerland over alleged money laundering.

Joe Biden in Saudi Arabia

Analysis

For Israel, normalization with Saudi Arabia not impossible

Israel is cautiously optimistic about US efforts to push Saudi Arabia towards normalization.

In Tel Aviv, reporting on national security, Israeli politics, defense

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.