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

Business and Economy Cover Image

Economy & Business

In this picture obtained from Iran's ISNA news agency on May 4, 2026, the Iran-flagged tugboat Basim sails near a ship anchored in the Strait of Hormuz off Bandar Abbas in southern Iran.

What to know about Iran's 'Persian Gulf Strait Authority' to control Hormuz traffic

The establishment of an entity seeking to control maritime transportation in the Strait of Hormuz is the latest sign that Iran wants to formalize authority in the strategic waterway.

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Egypt ramps up energy investments amid war-driven price pressures

Prime Minister Mostafa Madbouly said Wednesday that Egypt has secured commitments exceeding $19 billion from international oil companies over the next three years.

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Few ships pass Hormuz despite US efforts to break Iran's hold

Only four commercial vessels had transited the strait in the 24 hours before Tuesday morning, according to ship-tracking data.

Latest News

Iran strikes UAE’s Fujairah oil hub as US pushes Hormuz reopening

Meysam MIRZADEH / TASNIM NEWS / AFP via Getty Images

United Arab Emirates

Analysis

MENA wheat importers face food security risks as Hormuz crisis festers

Crops of wheat and barley in Terbol village on May 10, 2022, in Bekaa Valley, Lebanon.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Oman enters Gulf AI race with new special economic zone in Muscat

Haitham AL-SHUKAIRI / AFP via Getty Images

Oil surges past $120 to war-time high as Trump rejects Iran overture

A pumpjack stands idle in the Huntington Beach oil field, with port cranes visible in the distance, on April 23, 2026, in Huntington Beach, California.

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

Iranian rial banknotes bearing a portrait of the late founder of the Islamic Republic of Iran, Ayatollah Ruhollah Khomeini, sit on the stand of an Iraqi money dealer on June 19, 2014, in Arbil, Iraq.

Iran’s rial falls by 3% as Tehran grapples with war aftermath

The rial has fallen considerably since May, as officials lash out against the US despite the recent conflict coming to a close.

CORRECTION / A picture taken in Riyadh shows the sign in Arabic of an Aramco gas station on the outskirts of the Saudi capital Riyadh on November 5, 2024. Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on November 5, 2024, citing low oil prices. (Photo by Fayez Nureldine / AFP) / "The erroneous mention[s] appearing in the metadata of this photo by Fayez Nureldine has been modified in AFP systems in the following manner: changing the second phrase to refer to Saudi

Saudi PIF reports 60% profit drop as inflation, low oil prices bite

The PIF said that the impairments were mainly related to changes in operational plans and increases in budgeted costs.

An aerial view shows a bridge, destroyed in an Israeli airstrike, in the town of in Qusayr in Syria's central Homs province on December 14, 2024. Islamist-led rebels took Damascus in a lightning offensive on December 8, ousting president Bashar al-Assad and ending five decades of Baath rule in Syria. (Photo by AAREF WATAD / AFP) (Photo by AAREF WATAD/AFP via Getty Images)

French company revives Syria agreement to rebuild bridges: What we know

The agreement covers 37 bridges in Syria, where infrastructure was severely damaged during the civil war, but may now be rebuilt following the lifting of Western sanctions.

Huawei

Huawei explores Egypt partnership as electricity minister visits China

Egypt's electricity and renewable energy minister met with a range of high-level officials and business leaders while on a visit to the Asian country over the past week.

A view of the west Cairo natural gas electrical power station on the Giza skyline, Jan. 13, 2022.

Analysis

Egypt weathers Israel-Iran war blow as energy woes strain economic revival

In the wake of regional hostilities rattling markets, Egypt ranks among the most exposed to aftershocks as energy insecurity continues to threaten its ongoing economic turnaround.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

IAN MAULE/AFP via Getty Images

UAE cryptofund invests $100M in Trump stablecoin project: What to know

A UAE fund has become the largest investor in World Liberty Financial, aiming to expand adoption of the Trump-linked stablecoin USD1.

United Arab Emirates

Fire and smoke rise from a building, reportedly hit by a missile fired from Iran, in central Tel Aviv on June 13, 2025.

Analysis

A new era? Why Israel-Iran war didn't spook global markets as expected

Past Middle East wars sent markets tumbling, but today's investors have grown accustomed to such shocks, perhaps setting the stage for future market miscalculations.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nasholim, on Aug. 29, 2022.

As Iran ceasefire holds, Israel gas fields resume production: What to know

Egypt and Jordan are increasingly reliant on Israel for gas despite tensions over Gaza, but the conflict with Iran threatened their imports.

Neom

France's EDF reportedly dropped from Saudi Neom project: What to know

EDF was appointed by the Saudi government in January 2024 to carry out preliminary studies on the conception and construction of a hydroelectric power plant in Neom.

YASSER AL-ZAYYAT/AFP via Getty Images

Global airlines suspend Middle East flights as Iran-Israel truce frays

Dozens of carriers have had to cancel or reroute flights as the conflict in the Middle East continues to escalate.

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

Portraits of Iranian military generals and nuclear scientists, killed in Israel's June 13 attack are displayed above a road, as a plume of heavy smoke and fire rise from an oil refinery in southern Tehran, after it was hit in an overnight Israeli strike, on June 15, 2025.

Analysis

Israel-Iran war fuels risks for Mideast economies, energy flows after US strikes

The global economic fallout from the Israel-Iran clash has been limited but US strikes are adding to the risk.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

An Airbus A380 passenger aircraft of Emirates airlines to Dubai prepares to take off at JFK International Airport, New York, Feb. 7, 2024.

More airlines nix flights, shippers express caution after US strikes Iran

A handful of carriers canceled more flights to key Middle Eastern transit hubs like Dubai and Doha on Monday.