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

Business and Economy Cover Image

Economy & Business

Prime Minister Narendra Modi visited Abu Dhabi on May 15, 2026, and was warmly received by the UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan at the airport. The PM is shown being accorded a Guard of Honor upon his arrival.

UAE unveils $5B India investment push during Modi visit: What to know

India and the UAE signed deals related to energy supplies and maritime security, further strengthening ties amid the war in the region.

United Arab Emirates

A Syrian citizen exchanges old banknotes for new notes released and distributed by the central bank, at a bank in the capital, Damascus, on Jan. 3, 2026.

Interview

UK fintech brings foreign currency accounts to Syrians at home

The launch comes as Syria’s new government attempts to stabilize the country’s shattered economy following the January 2025 rise to power of President Ahmed al-Sharaa after the ouster of former President Bashar al-Assad.

Jag Vasant, an Indian-flagged tanker carrying liquefied petroleum gas (LPG) that transited through the Strait of Hormuz amid the Middle East war, remains docked at an offloading terminal along the coast in Mumbai on April 1, 2026.

Uptick in Chinese tankers transiting Hormuz amid Trump-Xi summit

President Donald Trump met Chinese President Xi Jinping in Beijing on Thursday, a meeting closely watched in Iran.

United Arab Emirates

Latest News

Syria restores Raqqa oil field in former ISIS stronghold: What to know

Pictured in this undated image is the Al-Thawra oil field in Raqqa governorate, as rehabilitation works continue to restore production capacity.

Aramco profits jump 26% as Hormuz disruption chokes supply

Guests stand at the Aramco booth during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi on Nov. 3, 2025.

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

EU restores economic pact to pursue fuller trade ties with Syria

Kaja Kallas

China’s overland trade routes offer Iran wartime economic lifeline: What to know

CN-STR / 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

An aerial view of the solar mirrors at the Noor 1 Concentrated Solar Power (CSP) plant, some 20 kilometers (12.5 miles) outside the central Moroccan town of Ouarzazate.

Morocco to ramp up green hydrogen production

While the industry is still in its infancy, the need to develop sustainable energy sources is becoming more pressing for the country.

ATTA KENARE/AFP via Getty Images

Iran, Oman to jointly develop oil field

Iran's president is in Muscat seeking increased cooperation with Oman on energy and transportation.

Egypt capital

Pro-government voices call for cancellation of Egyptian megaprojects

The Egyptian government is said to be seeking to halt huge construction works across the nation, citing the economic crisis and the repercussions of the Russian-Ukrainian war.

German Economy and Climate Action Minister Robert Habeck (R) and Qatar Minister for Energy Saad Sherida Al-Kaabi.

Qatar seeks to export natural gas to Germany by 2024

Germany wants Qatari gas as an alternative to Russia’s due to the invasion of Ukraine.

Visitors wearing virtual reality headsets interact with a display by the Israel Aerospace Industries.

Israel high-tech sector looks to Ukraine, Arab world to address labor shortage

With a manpower shortage that keeps growing, Israeli high-tech companies are going to great lengths to recruit a quality workforce.

KARIM SAHIB/AFP via Getty Images

UAE-Turkey reconciliation continues with trade agreement

The move follows a currency swap agreement between the two countries and the Turkish president's visit to the UAE.

OZAN KOSE/AFP via Getty Images

Fourth Turkish drilling ship arrives from South Korea

Turkey's fourth drilling ship is set to bring the country's drilling fleet to another level.

Chris McGrath/Getty Images

Egypt raises bank rates again

The Central Bank cited rising inflation and price increases due to the war in Ukraine for the move.

An Israeli woman works among marijuana plants at the Breath Of Life Pharma greenhouse in the country's second-largest medical cannabis plantation, near Kfar Pines, northern Israel, March 9, 2016.

Israeli cannabis industry grows with seeds export to US

The seeds from the Israeli crop science firm BetterSeeds are the first in the country to be exported internationally.

GIUSEPPE CACACE/AFP via Getty Images

UAE-Germany trade up more than 10% in 2021

Entities in the Emirates and Germany have signed several recent energy cooperation agreements.

Iraq food

Iraqi court annuls food security bill

There are rising concerns over food security in Iraq due to the war on Ukraine and the drought, but the agriculture and trade ministries say there is no need to be concerned over the country’s strategic food reserve stocks.

ADEM ALTAN/AFP via Getty Images

Turkey’s middle class priced out of home ownership

Buying a home has become an elusive dream even for middle-class professionals in Turkey as the country’s economic woes erupt into a perfect storm over the housing market.