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

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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

Representatives of OPEC member countries attend 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. - The OPEC+ oil cartel meets for the first time face-to-face since Covid curbs were introduced in 2020. (Photo by VLADIMIR SIMICEK / AFP) (Photo by VLADIMIR SIMICEK/AFP via Getty Images)

Is OPEC+ losing influence over production and prices?

PRO: The next 5 years promise higher revenues for OPEC+ members, but the risks are extraordinary. (access with free trial)

Gerald Kepes

In Washington, DC, reporting on regional energy trends

Saudi Minister of Finance Mohammed Al-Jadaan arrives to attends the Euromoney conference in the Saudi capital Riyadh on May 2, 2018 . - The two-day conference will focus on Saudi Arabia's finance and investments.(Photo by FAYEZ NURELDINE/AFP via Getty Images)

Davos 2023: Saudi Arabia 'open' to discuss trading in non-dollar currencies

Qatar also voiced support for Elon Musk’s leadership of Twitter at the annual forum in Davos, Switzerland.

Yoon Suk-yeol

South Korea-UAE visit showcases alignment on arms, energy deals

A $30 billion pledge from the UAE to invest in South Korean industries was one outcome of the four-day visit

By Salim A. Essaid

Cairo mosque

In Egypt, massive funding for new mosques questioned amid economic crisis

The Egyptian Ministry of Endowments has built thousands of new mosques in President Sisi's time in office, despite pressing needs for education, health care, and other services.

Guests attend the Global AI 2020 Summit, Riyadh, Saudi Arabia, Oct. 21, 2020.

Investment in Saudi Arabia startups in 2022 nears $1 billion

Saudi Arabia is the second-largest venture capital market in the Middle East, after the UAE.

Sudani germany

Iraqi PM in Germany to sign agreement with Siemens

Iraqi Prime Minister Muhammad Shia al-Sudani traveled to Germany Thursday to further economic ties between the two countries and sign an agreement with Siemens to repair Iraq's dilapidated electrical infrastructure.

Saudi mine

Saudi Arabia's mining sector sees boost after UK and domestic fund deals

The agreement with Saudi Arabia will help the United Kingdom reduce dependence on China, according to the British government.

An Egyptrian flag is pictured on the shore of the Suez Canal in the northeastern city of Ismailiya, on May 27, 2021. - Talks about compensations with the owner of the container ship Ever Given, that blocked the Suez Canal at the end of March are "at a standstill", Ossama Rabie, the head of the Egyptian authority that runs the Suez Canal said in an interview with AFP. The blocking that lasted six days, cost Egypt between 12 and 15 million USD per day of closure, according to the Suez Canal Authority (SCA). (

Rising Suez Canal revenues to provide much-needed lifeline for Egypt in 2023

PRO: The Suez Canal closed 2022 with record-breaking revenues, representing a key lifeline for Egypt as it faces serious economic issues (access with free trial).

Marc Español

Chris McGrath/Getty Images

Egypt's pound plunges to historic low with IMF deal

Egypt has agreed to allow its currency to float in order to receive $3 billion from the International Monetary Fund.

A man watches stock movements on a display at the Dubai Financial Market stock exchange, Dubai, United Arab Emirates, April 12, 2022.

Analysis

Can Islamic cryptocurrencies save the industry?

Cryptocurrencies lost over a trillion dollars in value in 2022, yet Islamic coins are emerging with ethical practices claiming to potentially resist such losses.

By Salim A. Essaid

This picture shows countainers and cranes on a dock at Haifa Port, Israel, June 24, 2021.

Indian-led consortium completes purchase of Haifa Port

The privatization of the port in northern Israel has been in the works since 2018.

An Egyptian youth is seen working in a bakery at a market, Cairo, Egypt, March 17, 2022.

Egypt’s inflation increases into 2023

Central bank interventions have so far been unable to stem the tide of inflation, and Egypt is also contending with the devaluation of the Egyptian pound.