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Economy & Business

Oil tankers and cargo vessels are anchored off the coast of Oman after being stranded for days as congestion at Port Sultan Qaboos has prevented them from docking on June 23, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reo

Oil prices ease as OPEC+ increases production, Hormuz traffic rebounds

Brent crude, the international benchmark, fell 0.15% to $71.87 a barrel as of 8:07 a.m. EDT after dropping as low as $71.09 earlier in the session, its lowest level since before the US-Israel-Iran war began on Feb. 28.

An aerial view shows port of the western Syrian port city of Latakia, on Dec. 18, 2024.

Analysis

Can a UAE-backed Syria-Iraq corridor become Gulf's next trade route?

On June 26, Emirati and Syrian officials discussed plans for a logistics corridor connecting Syrian ports to Gulf markets via Iraq.

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

Oil drilling near Dakhiliyah in the desert region of Hasakah, Syria, Jan. 25, 2026.

Syria launches gas project with Saudi firm in latest Gulf energy partnership

The project is the latest in a series of Gulf-backed investments aimed at rebuilding Syria's energy sector after the ouster of President Bashar al-Assad in December 2024.

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

Latest News

Trump earns $810M from UAE-backed crypto firm: What to know

People walk past a cryptocurrency exchange office with a screen featuring US President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025.

United Arab Emirates

Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

Omar Albaw / Middle East Images / AFP via Getty Images

Here's what to know about Iraq's corruption as Zaidi launches crackdown

AHMAD AL-RUBAYE / 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

StoreDot's headquarters in the Israeli coastal city of Herziliya on Feb. 16, 2021.

Fundraising by Israeli startups expected to decline during 2022

A survey of Israeli startup companies shows a significant drop in fundraising.

A general view of the Egyptian Stock Market in the capital, Cairo, on Jan. 6, 2013.

UAE investments boost Egyptian economy

The United Arab Emirates is seeking profits by investing $2 billion in Egyptian state-held stakes in some companies.

Korea UAE

Abu Dhabi, South Korea pledge to boost economic relations

South Korean entities have signed major deals with Egypt and Saudi Arabia recently.

United Arab Emirates

An employee counts banknotes at a currency exchange shop, Cairo, Egypt, Nov. 3, 2016.

Fitch gives Egypt ‘stable’ debt rating, citing reforms

Egypt is pursuing deregulation and tax reforms to some success, but the war in Ukraine has severely hurt the country’s economy.

Georgian border guards work at the Darial Gorge (Verkhniy Lars) border crossing, March 1, 2010.

Russian invasion of Ukraine slams Turkey’s transportation industry

Traffic at the Turkish border crossings have come to a grinding halt after trucks en route to Russia, Belarus and Central Asia diverted routes to Turkey and Georgia following Russia’s invasion of Ukraine.

This picture taken on March 13, 2020, shows an aerial view of low-rise luxury housing in the residential suburb of Madinaty in Cairo.

Buyers rush to purchase Egyptian real estate as prices rise

Oman

Oman on cusp of introducing personal income tax

Income tax is now in the pipeline in Oman, and other nations in the Gulf, one of the world’s largest bastions of tax-free wages, are watching with interest.

H.M. King Abdullah II of the Hashemite Kingdom of Jordan.

Saudi Arabia sends $50 million to Jordan for budget as economy falters

The Jordanian government is working to close tax loopholes and increase its revenue collection amid its economic struggle.

LOIC VENANCE/AFP via Getty Images

UAE-India economic agreement to lower tariffs, duties in bid to boost trade

India is one of the UAE’s largest trading partners, with oil, jewelry and textiles forming a bulk of the trade.

United Arab Emirates

Picture of the Tel Aviv Stock Exchange building, Jan. 16, 2011.

Tel Aviv Stock Exchange continues to reach historic highs

The TA 125 index’s growth is being led by banks and not Israel’s large tech sector.

KHALED DESOUKI/AFP via Getty Images

Egypt welcomes return of Qatari investments

As Qatari money flows back into Egypt, the question now is how these potentially game-changing foreign investments will be directed.

A customer leaves a currency exchange agency near Grand Bazaar in Istanbul, on Dec. 2, 2021.

Inflation storm worsens Turkey’s income distribution gap

Banks and big companies have benefited from Ankara’s controversial policy to keep interest rates low, while soaring inflation eats into the real income of the wage-earning masses.