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.

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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

Saad Sherida al-Kaabi (R), Qatar's energy minister and CEO of QatarEnergy, and Bruce Chinn, CEO of Chevron Phillips Chemical company, attend a signing ceremony at the QatarEnergy headquarters in Qatar's capital Doha on January 8, 2023. (Photo by AMR DIAB/AFP via Getty Images)

Qatar and Chevron sign major petrochemical deal

The move follows QatarEnergy’s gas deals last year with China and Germany.

Pounds dollars

Egypt, facing economic crunch, restricts non-essential travel for government

The decision is the latest in a series of measures Egyptian public and private financial institutions are taking in an attempt to cope with the economic crisis.

An Iranian man looks looks at currency exchange rates outside a shop in downtown Tehran on June 15, 2021. - Iran holds a presidential election on June 18, with ultraconservative Ebrahim Raisi, who heads the judiciary, most likely to win from the seven candidates. (Photo by MORTEZA NIKOUBAZL / AFP) (Photo by MORTEZA NIKOUBAZL/AFP via Getty Images)

Iranian exporters to suffer impact of frozen exchange rate

Bijan Khajehpour

Bijan Khajehpour

In Vienna, reporting on Iranian politics

Participants attend the launch of the new tourism visa in Ad Diriyah, a UNESCO-listed World Heritage Site, outside Riyadh, Saudi Arabia, Sept. 27, 2019.

Saudi Public Investment Fund announces new tourism project in Diriyah

The sovereign wealth fund is seeking to boost tourism to the kingdom per the Vision 2030 initiative.

This photograph shows rolls of copper wires stored at the Nexans manufacture in Lens, northern France, on May 11, 2022. - The French cable company is the only one in its sector to have its own copper foundry in Lens. This plant represents a competitive advantage for Nexans at the dawn of an explosion in demand for electrical cables. (Photo by DENIS CHARLET / AFP) (Photo by DENIS CHARLET/AFP via Getty Images)

Saudi Arabia to ramp up copper mining to meet rising global demand

Copper demand is expected to explode as governments and companies worldwide try to meet ambitious net zero targets. Saudi Arabia is positioned well to take advantage.

Afshin Molavi

Burj Khalifa

UAE offers corporate tax orientation as implementation nears

The Gulf state decided last year to start taxing business profits and the new tax will go into effect this June.

This picture taken December 12, 2019 shows a view of the board at the Stock Exchange Market (Tadawul) bourse in Riyadh. - Energy giant Saudi Aramco's market value soared above $2 trillion as its share price surged again on its second day of trading. The valuation milestone was sought by Saudi Crown Prince Mohammed bin Salman when he first floated the idea of selling up to five percent of Aramco, the world's largest oil firm, about four years ago. Aramco shares jumped another 9.7 percent to 38.60 riyals ($10

From Oil to IPOs: how the Middle East is delivering a wave of mega-listings

2022 was a year to forget for IPOs across global markets, but not in the Middle East. Check out our latest PRO Trend Report to take a deep dive into how the region found success.

People walk past a currency exchange shop displaying a giant US dollars banknote in downtown Cairo on Nov. 3, 2016.

Egyptian banks announce measure to encourage savings

Inflation is still occurring in Egypt and the pound is plummeting in value again.

This picture taken on May 9, 2021 shows a view of the Dubai city skyline as seen from the Burj Khalifa, currently the world's tallest building at 828 meter.

Dubai unveils $8 trillion economic plan

Dubai's plan includes measures to boost its foreign trade, sustainability and position as a tech hub.

Algeria's Energy Minister Mohamed Arkab attends the opening session of the 24th ministerial meeting of the Gas Exporting Countries Forum (GECF), in the Capital Cairo on October 25, 2022. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Algeria, Sonatrach banking on high energy prices for 2023

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

This picture taken on Aug. 23, 2022 shows a view of the exterior of the headquarters of the Bank of Israel, the country's central bank, in Kiryat Ben-Gurion in Jerusalem.

Israel raises rates again as central bank expects inflation

Housing prices are also on the rise in Israel, and interest rates are now at their highest levels since 2008.

A man counts Turkish liras at a currency exchange office, Istanbul, Turkey, July 29, 2020.

Turkey's inflation slows most in December in a boost to Erdogan

Facing crucial elections in spring, the Turkish government is trying to take credit for curbing inflation, even though the steep decline in the annual rate owes mostly to a favorable base effect.