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

Business and Economy Cover Image

Economy & Business

Commercial vessels are pictured offshore in Dubai on March 11, 2026. AFP via Getty Images

Oil jumps above $100 as energy crisis called worst in history: What to know

The latest spike is the second time in a week that oil prices have climbed above $100 a barrel.

Sakis Mitrolidis / AFP via Getty Images

Group of 32 states to release 400M barrels of oil reserves: What to know

The move would mark the agency's largest ever release of oil reserves to stabilize the global market.

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

Yasin AKGUL / AFP via Getty Images

Analysis

Oil-price hikes from Iran war threaten Turkey's rate cuts in inflation fight

Surging oil prices and regional disruptions could halt monetary easing and widen Turkey’s current account deficit.

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

An Emirates Airbus A380 passenger aircraft prepares for landing at Dubai International Airport in Dubai on March 8, 2026.

Airlines gradually restore Middle East flights, Gulf still heavily grounded

More than 43,000 of the 78,500 scheduled flights in and out of the Middle East have been canceled since the war began Feb. 28, according to flight data firm Cirium.

United Arab Emirates

Latest News

Oil swings steady as Aramco warns of 'catastrophic' Hormuz disruption

Dan Kitwood/Getty Images

Analysis

Oil crisis stokes inflation risks for Mideast as Iran war exposes importers

Smoke and flames rise at the site of airstrikes on an oil depot in Tehran on March 7, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

G7 readies strategic reserves after oil nears $120 amid Iran war

In this photo illustration, a smartphone displays the crude oil price in USD after markets in the UK opened on March 9, 2026, in London, England.

Analysis

Qatar gas shock roils Middle East energy risk profile amid Iran war

Yasin AKGUL / AFP via Getty Images

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

Serdar Ozsoy/Getty Images

Turkish markets, lira gain as Ankara delays ruling on opposition head's ouster

An Ankara court adjourned a case to October 24 to ouster the opposition CHP party's chairman, as part of a long-running political crackdown by the ruling AKP party.

MURAT KOCABAS/Middle East Images/AFP via Getty Images

Analysis

KFC’s Turkey relaunch tests Western brands’ resilience in Gaza boycott era

From KFC to Carrefour, the Middle East's consumer brand landscape is undergoing significant shifts as the two-year anniversary of boycotts linked to the Gaza war approaches.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Saudi Arabia's Bayan Sadagah (C-L) celebrates her goal during a friendly football match between Saudi Arabia and Bhutan at Prince Sultan bin Abdulaziz stadium in Abha on September 24, 2022. (Photo by AFP) (Photo by -/AFP via Getty Images)

Saudi Arabia launches 24-hour women’s sports channel: What to know

The launch coincides with the start of the Saudi Women’s Premier League season, which will see the soccer competition broadcast nationally and globally for the first time.

Foreign laborers work on the construction of new luxury houses in the Saudi capital, Riyadh, on April 13, 2019.

Saudi crown prince vows to ground soaring property prices: What to know

Crown Prince Mohammed bin Salman vowed to implement policies aimed at reducing real estate costs and providing a wider range of housing options.

Guests attend a policy dialogue on Embracing Emerging Opportunities in times of Economic Uncertainty during the 10th Belt and Road Summit in Hong Kong, China, Sept. 10, 2025.

Hong Kong inks agreements with Gulf partners at BRI Summit

Some 36 business agreements covering finance, technology, logistics, professional services and education were set to be signed at the event.

A worker fits solar panels onto frames during construction at South Africa's first municipally owned solar plant, during International World Environment Day, on June 5, 2025, in Atlantis near Cape Town.

Saudi firm to pump $700M into economic zone developer in Africa

The kingdom's Vision Invest will invest in pan-African developer Arise Integrated Industrial Platforms, which will use the funds to expand across the continent and develop green industrial ecosystems.

JUSTIN TALLIS/AFP via Getty Images

UK's Revolut enters Middle East fintech market with UAE licenses

The Central Bank of the UAE has granted Revolut in-principle approval for stored value facilities and retail payment services licenses.

United Arab Emirates

Chinese President Xi jinping attends a photo session for participants of the Shanghai Cooperation Organization summit 2025 on Sept. 1, 2025, in Tianjin, China.

China calls on BRICS to boost multilateral trade as Iran, UAE eye closer ties

The UAE’s and Egypt’s trade with BRICS members is on the rise, while Iran’s efforts to increase economic ties are complicated by sanctions.

Cyprus' President Nikos Christodoulides speaks during a press conference after the MED9 Summit in the Cypriot city of Paphos, on Oct. 11, 2024.

Cyprus courts UAE amid Greek pressure on subsea cable: What to know

The project has been beset with delays due to longstanding disagreements between NATO members Greece and Turkey over territory in the Eastern Mediterranean.

United Arab Emirates

Indian Prime Minister Narendra Modi (R) and Israeli Prime Minister Benjamin Netanyahu talk during the India-Israel Business Summit in New Delhi on January 15, 2018. Benjamin Netanyahu hailed a "new era" in ties with India on January 15 as he signed a series of deals during the first visit by an Israeli Prime Minister in 15 years. Netanyahu made the comment after talks with Narendra Modi, who made history in July when he became the first Indian leader ever to visit Israel.

India, Israel ink new investment deal: What to know

The deal comes just a week after the Shanghai Cooperation Organization summit in Tianjin, China, where India signed a declaration condemning Israeli actions in Gaza and Iran.

KHALED DESOUKI/AFP via Getty Images

Saudi Arabia, UAE firms sign $18.5B tourism megaproject for Egypt

The new deal forms part of Egypt’s Vision 2030 agenda as the government aims to secure $42 billion in foreign direct investment this year.