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

Business and Economy Cover Image

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

NASER JAFARI/TASNIM NEWS/AFP via Getty Images

Iran stops taxing foreign currency imports amid liquidity crunch

The Central Bank of Iran has a shortage of foreign currency and the United States is seeking to stop the flow of dollars into the country.

JPMorgan warns about investment risk in Israel

The major US investment firm is concerned about the government’s judicial reform efforts contributing to domestic volatility.

A peddler sells roasted corn cobs by the medieval Sultan al-Ghuri Complex in the Azhar district of Cairo.

Egypt keeps interest rates unchanged to start 2023

Inflation in Egypt was on the rise at the end of 2022, with food prices being of particular concern.

Employees stand at the Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project, in the United Arab Emirates' capital Abu Dhabi, during a visit by the French economy minister on January 31, 2023. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

UAE and Saudi Arabia to compete for top global ranking in green energy

Here's how the UAE and Saudi Arabia can become the world's top green energy providers.

Afshin Molavi

Coal miners move a wagon of coal at a small coal mine on Dec. 9, 2021, in Zonguldak, Turkey.

Turkey plans to expand renewable energy but sticks to coal, nuclear

Clean energy advocates say Turkey should speed up its shift to renewable sources not only out of environmental concerns, but also to reduce its costly reliance on imported energy.

The skyline of Riyadh, Saudi Arabia, March 28, 2014, is seen at night in this aerial photograph from a helicopter. AFP PHOTO / Saul LOEB (Photo credit should read SAUL LOEB/AFP via Getty Images)

Saudi Arabia’s ambitions loom large over UAE’s business expat community

Pro: Saudi Arabia is trying to pry multinationals away from the UAE's financial hubs, forcing business expats in the Gulf to make a difficult decision.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Saudi traders work at a bank in Riyadh on March 19, 2008. Asian stocks soared today after a big bounce on Wall Street as the US Federal Reserve slashed interest rates in a bid to contain a spiraling financial crisis and risk of recession. (Photo credit should read HASSAN AMMAR/AFP via Getty Images)

Qatar stays put after US, Saudi Arabia, UAE raise interest rates

The Gulf central banks’ moves followed the US Federal Reserve raising its rates. Inflation increased in both Qatar and Saudi Arabia at the end of 2022.

A money changer counts notes at his shop in the Lebanese capital, Beirut, on Sept. 22, 2022.

Explainer: What is behind Lebanon's new exchange rate?

There are multiple exchange rates between the Lebanese pound and the US dollar, and the official rate being below the black market rate helps financial institutions pass on their losses to the public.

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. (Photo credit MARWAN NAAMANI/AFP via Getty Images)

Signaling US, OPEC+ agrees to keep oil production unchanged

Experts say the decision by Saudi Arabia, Russia and other major oil producers could be motivated by a desire to maintain calm with the United States.

Saudi Arabia's Minister of Energy Abdulaziz bin Salman looks on during a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting in Vienna, Austria, on October 5, 2022. (Photo by VLADIMIR SIMICEK/AFP via Getty Images)

OPEC+ likely to maintain oil output at meeting, in gesture to US

While the OPEC+ group is expected to maintain oil production at its virtual meeting set for Feb. 1, global demand for oil is estimated to reach a record high in 2023.

Delegations attend the 46th ordinary session of the Council of Arab Central Banks and Monetary Authorities Governors, Jeddah, Saudi Arabia, Sept. 18, 2022.

Saudi GDP grows 8.7% in 2022 due to oil, non-oil growth

One credit-rating agency said Saudi Arabia’s GDP growth will slow down in 2023.

A picture take on Sept. 14, 2017 shows an Airbus A380 of Emirates landing at the tarmac at Dubai's International Airport.

Analysis

Gulf logistics ambitions skirt net-zero carbon emissions goals

The Gulf states are expanding their transportation networks and logistics hubs, which would seem to threaten their stated goals reducing carbon emissions.

Sebastian Castelier

By Sebastian Castelier

In Dubai, reporting on regional business