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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

People celebrate in Damascus' Omeyyad square after US President Donald Trump's decision to lift sanctions in Syria, on May 13, 2025

Analysis

US sanctions relief key to Syria’s recovery but hinges on global coordination

The levies include secondary sanctions targeting individuals or companies who engage with Damascus, so private sector companies will only move after a US green light.

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

Sayed Hassan/Getty Images

China expands foothold in Egypt’s Suez with $17M garment deals

China has signed more than a billion dollars' worth of deals in the Suez Canal Economic Zone this year as the waterway reels from the Red Sea crisis.

Kaja Kallas

EU greenlights lifting of all economic sanctions on Syria

The European Union and the United Kingdom had already lifted some sanctions on Syria in certain sectors including aviation, energy and media.

GIUSEPPE CACACE/AFP via Getty Images

Qatar Airways reports highest-ever yearly profit of $1.7B

The Gulf airline said in a statement it was the strongest financial performance in its 27-year history.

Qatar's Emir Sheikh Tamim bin Hamad Al Thani (R) sits next to US President Donald Trump as he speaks to Boeing CEO Kelly Ortberg (L).

Analysis

Trump’s Gulf trip lifts embattled Boeing with Qatar, UAE deals

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

BRENDAN SMIALOWSKI/AFP via Getty Images

AI chips, drones, jets: A look at Trump's $3.2 trillion megadeals during Gulf trip

Amid photo ops and lavish receptions, President Donald Trump’s Gulf trip yielded $3.2 trillion in announced deals with Saudi Arabia, Qatar, and the UAE — though some details remain vague.

TOPSHOT - Kuwaiti traders follow the stock market activity at Boursa Kuwait, in Kuwait City on April 7, 2025. According to official news agencies, Kuwait's primary index fell 5.7 percent, the Qatari stock exchange was down 4.2 percent, and in Oman, the Muscat stock market closed with a 2.6-percent decline. Under Trump's policy, goods from Saudi Arabia, Kuwait, Qatar, Oman and the United Arab Emirates will be subject to a 10-percent "baseline" tariff. The uncertainty over trade and manufacturing has helped t

Analysis

Gulf wealth funds weather US stock dip, target Amazon, Bitcoin in Q1

We take a look at the region’s exposure to American equities as the US president departs the Gulf.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

The port of the southern coastal city of Tartus, Syria, Dec. 12, 2024.

Syria inks $800M deal with UAE’s DP World to develop Tartous port: What we know

The agreement came days after Donald Trump announced the lifting of all US sanctions against Syria stemming from the Assad government's conduct in the 14-year civil war.

U.S. President Donald J. Trump jokes with Emir of Qatar Tamim bin Hamad al Thani as they attend a state dinner at the Lusail Palace on May 14, 2025, in Doha, Qatar. The visit underscores the strategic partnership between the United States and Qatar, focusing on regional security and economic collaboration.

US, Qatar's $243.5B deal includes sale of up to 210 Boeing jets: What to know

The United States and Qatar inked economic deals worth more than $243.5 billion, laying the groundwork for a bigger $1.2 trillion package of expanded investment and trade, the White House said.

FAYEZ NURELDINE/AFP via Getty Images

US, Saudi Arabia ink $600B economic pact amid AI, energy deals

The economic partnership agreement includes energy, mining and defense pacts, according to a White House readout.

Saudi and US flags flutter on a main road in Riyadh on May 12, 2025, hours before of a visit by US President Donald Trump to the desert kingdom this week.

Defense, energy and AI deals await Trump during Gulf visit: What to know

Trump will kick off his regional trip by participating in a Saudi-US Investment Forum meeting, while Qatar and the UAE may be eyeing more cooperation defense and technology.

US President Donald Trump (C-L) is welcomed by Saudi King Salman bin Abdulaziz Al Saud (C) upon arrival at King Khalid International Airport, followed by First Lady Melania Trump (R), Riyadh, Saudi Arabia, May 20, 2017.

Trump heads to Gulf as markets surge on US-China tariff deal

China and the United States said on Monday they agreed on a deal to cut reciprocal tariffs by 110% from May 14 as they seek to end the trade war that has upended global markets.