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Economy & Business

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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.”

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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

Botswana Qatar

Qatari royal expands Africa push with $12B in Botswana after $39B in DRC, Zambia

A Qatari delegation began a tour of 10 African countries on Aug. 13 in Kinshasa, Democratic Republic of Congo, to explore investment opportunities.

A Sudanese merchant weighs pure gold on an electronic scale in the village of al-Shirik in northern Sudan on Aug. 8, 2010.

Sudan restricts gold trade as currency falls: What to know

The UAE, historically the largest importer of Sudanese gold, could be affected by the move, and Khartoum is seeking to reduce exports of the commodity to the Gulf state over a dispute related to the civil war.

ILYAS AKENGIN/AFP via Getty Images

Turkey's electricity use reaches all-time high in hottest July on record

A report found that Turkish electricity needs are skyrocketing as the climate warms.

VistaJet Bombardier Bombardier Global 6000 is landing at Milano Malpensa international airport.

Saudi Arabia licenses charter operator VistaJet as first foreign airline for domestic flights

The Dubai-based private airline group looks to capitalize on the kingdom's growing super-rich luxury travel market.

An Iraqi Airways aircraft is parked at the gate at Baghdad airport on Feb. 20, 2025.

12 international, local firms bid to operate Iraq's Mosul airport destroyed by ISIS

Iraq seeks to develop its air sector now that security conditions have improved in the country, hoping to play a bigger role in regional transit corridors.

A worker fits solar panels onto frames during construction at South Africa's first municipally owned solar plant, during International World Environment Day, on June 5, 2025, in Atlantis near Cape Town.

UAE breaks ground on 50 MW solar plant in CAR, expanding Africa footprint

Abu Dhabi’s financial footprint has expanded across Africa, making the UAE the continent’s fourth-largest source of foreign capital.

United Arab Emirates

Egypt-Japan Investment Forum

Egypt, Japan sign 12 investment deals as Cairo floats industrial zone plan

Egypt has been wooing foreign investment as it recovers from its worst financial downturn in over six decades.

A special anti-terrorist unit stands in front of the Palace of Serbia to secure the place prior to Israeli President Benjamin Netanyahu's arrival for a meeting with Serbia's president in Belgrade, on Sept. 11, 2024.

Serbia, Slovenia still buying Israeli arms despite embargo: What to know

The Elbit Systems deal with Serbia is one of the largest in the company’s history, second only to a $1.7 billion agreement to modernize the Hellenic Air Force’s training program in Greece.

KHALED DESOUKI/AFP via Getty Images

Egypt to open four new free trade zones by end 2026: What to know

The zones will be in 10th of Ramadan City, New October City, New Borg El Arab City, and New El Alamein City.

Saudi Syria

Syria, Saudi Arabia sign mutual investments deal: What to know

The deal came during a Saudi-Syrian meeting in Riyadh that was held in continuation of the Syrian-Saudi Investment Forum held in Damascus last month that saw the signing of 47 deals worth $6.4 billion.

KHALED DESOUKI/AFP via Getty Images

Analysis

Egypt’s stocks boom 20% as global investors bet on economic turnaround

Powered by banking, tobacco and building companies, the North African country's EGX30 index has soared to new records in August.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Michael M. Santiago/Getty Images

Diverging Gulf bets: PIF exits US tech stocks as Mubadala reshuffles portfolio

During a quarter in which US stocks began surging toward record highs, two of the Gulf's most influential investors took different approaches to the market.

United Arab Emirates