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

France's President Emmanuel Macron and Syria's President Ahmed al-Sharaa look on during a bilateral meeting within the framework of the COP30 UN climate conference in Belem, Brazil, Nov. 6, 2025.

Syria attends Brazil’s COP30 as most Middle East leaders skip talks

Two years after the UAE and Egypt hosted back-to-back climate conferences, global headwinds are threatening climate action as talks begin in Belem amid notable absences.

United Arab Emirates

DAMASCUS, SYRIA - JULY 16: Members of Syria's civil defense work amid the aftermath of an Israeli airstrike on Syria's defence ministry headquarters on July 16, 2025 in Damascus, Syria. A spokesperson from the Israeli Defense Forces (IDF) confirmed Wednesday that Israeli airstrikes have targeted the headquarters of Syria's defence ministry and a site near the presidential palace in Damascus. The strikes come amid an escalation in conflict between Syrian government forces and Druze militia in the southern Sy

Analysis

Sharaa in Washington: Can US charm offensive boost Syria’s reconstruction?

The trip signals strong support for the new Syrian government, as President Sharaa seeks the breakthroughs needed to end economic isolation and speed up reconstruction, while US sanctions continue to paralyze investment.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

This picture taken on July 10, 2022, shows a view of the thermal natural gas and fuel oil power plant serving Syria's northern city of Aleppo.

Syria advances Qatar-backed $7B power project amid soaring electricity prices

According to the state-run Syrian Arab News Agency, the plants will use a combination of natural gas and solar energy.

People sit listening as the Chairman and CEO of TotalEnergies Patrick Pouyanne speaks during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi, on Nov. 3, 2025.

Egypt courts investors, signs new gas deals at Abu Dhabi ADIPEC summit

Minister Karim Badawi met with executives from companies including Abu Dhabi sovereign wealth fund Mubadala, UAE state energy holding company TAQA, US conglomerate Halliburton and British Petroleum.

Former Director General of Lafarge Bruno Lafont (C) and French lawyer Jacqueline Laffont arrive on the opening day of the trial.

French cement giant Lafarge on trial for ‘funding terrorism’ in Syria: What to know

The French company is accused of funneling millions of dollars via its subsidiary Lafarge Cement Syria to jihadi groups and intermediaries to keep its cement plant operating in northern Syria.

AirAsia airplanes are pictured on the tarmac at Kuala Lumpur International Airport in Sepang on Jan. 8, 2024.

Malaysia's AirAsia bets Bahrain can fuel Mideast growth, challenging Gulf hubs

The Malaysian carrier signed a preliminary pact with Bahrain to explore establishing the kingdom as its Middle East hub, with plans for dozens of daily flights by 2030.

UK Chancellor Rachel Reeves, right, and Qatari Finance Minister Ali bin Ahmed al-Kuwari arrive at the Future Investment Initiative in Riyadh, Saudi Arabia, on Oct. 28, 2025.

Analysis

UK chases elusive GCC trade deal that could boost exports, economic links

A new charm offensive at Saudi Arabia's flagship investment conference has fueled optimism that a UK-GCC trade pact, under negotiation since 2022, could soon be completed.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Ezra Acayan/Getty Images

Oil prices fall for 3rd straight month as Saudi-led OPEC+ weighs more cuts

The falling oil prices are being driven further down by China’s slowdown and are affecting Saudi Arabia’s diversification plans.

A woman opens the UBER application on her mobile phone at the Eminonu district on March 30, 2018 in Istanbul.

Uber announces $200M technology center in Turkey: What to know

The new site in Istanbul will join Uber’s other global tech centers located outside the United States in Brazil, India and the Netherlands.

An employee wearing a face mask against the coronavirus, is pictured at the port of Jebel Ali, operated by the Dubai-based giant ports operator DP World, in the southern outskirts of the Gulf emirate of Dubai, on June 18, 2020.

UAE’s DP World to invest $5B in India's infrastructure: What to know

The Dubai-headquartered logistics firm has already invested $3 billion into the South Asian nation over three decades.

United Arab Emirates

FAYEZ NURELDINE/AFP via Getty Images

Billion-dollar AI, clean energy deals headline Saudi 'Davos in the Desert'

Humain, an AI firm backed by the Saudi sovereign wealth fund, the PIF, signed a $3 billion deal with AirTrunk, a company backed by US asset manager Blackstone, to build a data center campus in the kingdom.