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

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Economy & Business

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Oil falls 1.8% as traders await 'toughest' sanctions on Iran

Traders are awaiting details about new US measures sure to further disrupt Iranian oil flows.

Khor Fakkan Container Terminal

Analysis

UAE-Iran trade relationship becomes key test of Trump’s wartime strategy

The Gulf state suspended trade with Iran after new attacks in August. Experts point to risks for both sides as the Trump administration seeks to squeeze Tehran economically.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Foreign Ministry Spokesperson Lin Jian holds a press conference on Aug. 19, 2026.

China slams Trump over economic war on Iran: What to know

China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions.

Iranians drive past an anti-US billboard at Enghelab Square in central Tehran, Aug. 3, 2026.

Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94

In a Truth Social post, the president threatened that any country that provides a financial lifeline to Iran will face "tremendous economic consequences."

Latest News

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

AHMAD AL-RUBAYE / AFP via Getty Images

Turkey looks to expand Syria energy footprint into oil, gas

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Leon Neal/Getty Images

United Arab Emirates

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

Serbia expo 2020

Emirati cloud firm G42 signs agreement with Serbia

The memorandum was signed at the Expo 2020 forum in Dubai.

United Arab Emirates

Turkey economy

Turkey's economy to be hit hard by Fed's expected interest rate hikes

Expected interest rate hikes by the US Federal Reserve to rein in inflation will deal further blows to Turkey’s economic turmoil.

Saudi tourism

Emirates airline to boost Saudi tourism

The Dubai-based carrier has signed an agreement with the Saudi Tourism Authority to bring international travelers to Saudi Arabia.

People hold up their electricity bills as they protest against high energy prices in Ankara on Feb. 9, 2022.

Turkey’s producers face tough choices after staggering energy hikes

Industrial enterprises in crisis-hit Turkey have faced energy price hikes of up to 400% over a year, atop other economic blows, and many might not survive the turmoil, experts warn.

A Palestinian boy waits for falafel at a vendor in Hebron in the West Bank, April 18, 2021.

Rise in price of falafel leaves Palestinians hangry

The price hike of a falafel sandwich, a popular street food once available to all, has stirred wide resentment amid the increase of prices of other foodstuffs.

Qatari liquefied natural gas carrier Duhail passes through the Suez Canal near the port city of Ismailia, Egypt, April 1, 2008.

Egypt breaks LNG export records with eye on Europe

The country recorded 10-year high sales in 2021 following a jump in global prices and resumption of production in its second liquefied gas facility, a flow local authorities hope to maintain as they try to become a regional hub and major player in the market.

Saudi bank

Digital bank backed by Saudi sovereign wealth fund gets approval

The D360 Bank, which aims to operate locally, will be the third digital bank in Saudi Arabia as the kingdom's diversification efforts continue.

AL-MONITOR Staff

By AL-MONITOR Staff

Intel HQ

Intel acquires Israeli tech firm

The Silicon Valley tech giant has a large presence in Israel, and has acquired several Israeli companies in recent years.

AL-MONITOR Staff

By AL-MONITOR Staff

A man counts Egyptian pounds at a currency exchange shop, Cairo, Egypt, Nov. 3, 2016.

Standard Chartered eyes churning out profits from Egypt

Egyptian authorities are betting on Standard Charter's expertise to boost online banking and stoke competitiveness.

LOUAI BESHARA/AFP via Getty Images

How diamonds became Syrians' best friends

Syrians have been buying diamonds instead as the global prices of gold continue to increase.

Air Arabia airlplane.

Emirati budget airline Air Arabia reports record profits after loss in 2020

The Sharjah-based carrier said profits went up due to relaxed coronavirus-related restrictions.

AL-MONITOR Staff

By AL-MONITOR Staff

People queue outside Megasis, the first Iranian supermarket in Venezuela, in Caracas on July 31, 2020.

Direct Iran-Venezuela flights to begin next month

A Venezuelan official said the South American country wants to attract Iranian tourists.

AL-MONITOR Staff

By AL-MONITOR Staff