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

Business and Economy Cover Image

Economy & Business

Leon Neal/Getty Images

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

Brent crude climbed near $92 a barrel on Tuesday, reaching its highest level this month amid new escalatory developments.

United Arab Emirates

RAMI AL SAYED/AFP via Getty Images

Explainer

What US sanctions on Syria remain as Shibani, Barrack hold talks?

Key sanctions remain on Damascus, including a designation that was made more than four decades ago.

A picture take on Sept. 13, 2017, shows Khalaf Ahmad Al Habtoor, chairman of the Al Habtoor Group, attending the World Premiere of La Perle in Dubai.

UAE billionaire Habtoor takes aim at Ben Gvir’s Gaza rhetoric

The prominent Dubai businessman condemned the Israeli national security minister's call to kill of dozens Gazans nightly, putting a pointed criticism from an influential Emirati voice on the record.

United Arab Emirates

Ships are anchored in the Strait of Hormuz on Aug. 10, 2026, off the coast of Bandar Abbas, Iran.

Iran says understanding reached with Oman over new Hormuz route map

Iranian Foreign Ministry spokesperson Esmail Baghaei told reporters in Tehran on Monday that “an understanding has been reached regarding the map of the transit route.”

Latest News

Analysis

Beyond bases: Russia’s foothold in Syria shrinks even as ties endure

Russian President Vladimir Putin greets Syrian President Ahmed al-Sharaa at the Grand Kremlin Palace, Moscow, Oct. 15, 2025.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Explainer

What would BRICS Bank membership mean for Iran's reeling economy?

Motorists drive vehicles past a billboard depicting Iran's late supreme leader Ali Khamenei along a street in central Tehran on August 8, 2026. Hopes for an imminent US-Iran deal to end the blockage of the Strait of Hormuz added to optimism that oil and gas, along with other key products, would again start flowing freely after more than five months of war. But oil prices turned higher ahead of the weekend in the absence of any confirmation of an accord, amid reports that Iran was planning to block US and Is

Oil spills off Oman, Iran's Qeshm Island reap environmental havoc amid war

A photograph obtained from the Iranian Students’ News Agency shows an oil slick along the southern coast of Qeshm Island, Iran, August 13, 2026.

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

Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman (R) arrives as US President Donald Trump is seen on a screen.

Gulf AI ambitions get boost with US approval of advanced chip exports

Washington has been cautious about sending sensitive advanced microchips to Middle East countries with close ties to China, fearing that the technology could end up in Beijing’s hands.

US President Donald Trump and Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia stand for a photo.

US-Gulf critical minerals ties deepen as Saudis strike rare earths deal

The Nevada-based producer said the new joint venture will develop a refinery capable of processing raw materials from Saudi Arabia and abroad to supply manufacturing and defense industries in both countries.

DELIL SOULEIMAN/AFP via Getty Images

Syria signs deals with ConocoPhillips, Novaterra Energy: What to know

Syria signed a memorandum of understanding with US energy companies ConocoPhillips and Novaterra Energy to develop and explore gas fields as Damascus works to revive the country’s battered natural gas sector.

Russian President Vladimir Putin meets with Egyptian President Abdel Fattah El-Sisi at the Kremlin in Moscow, on May 9, 2025.

Egypt, Russia advance construction at Dabaa nuclear plant: What to know

The Dabaa nuclear plant could help Egypt address its energy woes while boosting cooperation with Russia.

White House dinner

Tech titans gather as US-Saudi investment forum opens, MBS nets key deals

President Donald Trump welcomed Saudi Crown Prince Mohammed bin Salman with a red carpet to Oval Office talks and a black-tie dinner with celebrities.

US President Donald Trump meets with Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman in the Oval Office of the White House in Washington, DC on Nov. 18, 2025.

MBS pledges Saudi investment of $1T in Trump meeting

Crown Prince Mohammed bin Salman said the move is in line with Saudi Arabia's investment strategy, particularly its desire to increase computing capabilities and develop an artificial intelligence sector.

Justin Setterfield/Getty Images

Interview

Saudi foreign ownership property law won't overheat market, says Dar Global CEO

Saudi Crown Prince Mohammed bin Salman has frozen rent in Riyadh for five years to contain soaring prices.

Ziad El Chaar

CEO of Dar Global

HECTOR RETAMAL/AFP via Getty Images

Middle East commercial aircraft fleet will double in 20 years, Airbus says

The European planemaker predicted the Middle East will be one of the world’s fastest-growing aviation regions with 4,080 new passenger aircraft deliveries in the next 20 years.

United Arab Emirates

ABDEL MAJID BZIOUAT/AFP via Getty Images

Analysis

Morocco's UN-backed Western Sahara plan offers investors some reassurance

Last week, the UN Security Council voted in favor of a resolution backing Rabat’s plan for Western Sahara, describing autonomy under Moroccan sovereignty as the “most feasible solution” to the 50-year disagreement over the disputed territory.

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

Minister of Industry, Mine, and Trade Seyed Mohammad Atabak departed Tehran for Tashkent.

Iran, Uzbekistan eye $5B in trade, mining investment: What to know

Iranian Minister of Industry, Mining and Trade Seyed Mohammad Atabak made deals with his counterparts in Uzbekistan in Tashkent this week.

An Israeli El Al Airlines Boeing 787-9 Dreamliner aircraft bound for Los Angeles takes off from Israel's central Ben Gurion Airport on June 25, 2025.

Israel's El Al posts record $203M Q3 profit as foreign airlines trickle back

Many international airlines have now resumed flights to Israel following a truce to end the Gaza war.

KHALED DESOUKI/AFP via Getty Images

Egypt's foreign reserves exceed $50B mark for first time: What to know

The stronger reserve position signals that Egypt has largely emerged from its worst economic crunch in decades.