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

Business and Economy Cover Image

Economy & Business

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades.

Olivier Badard

CEO of Armada Holding

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Analysis

Why the Hormuz oil shock never became an energy catastrophe

The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

FADEL SENNA/AFP via Getty Images

Explainer

Gulf states push incentives for investors, expats after war dents image

Several Gulf states are working to recover their images as global havens of stability in the wake of the Iran war.

United Arab Emirates

Latest News

Explainer

After UAE and Qatar, could Iraq be next to leave OPEC?

A worker at a market for fuel oil and automotive fuel on March 17, 2026, in Erbil, Iraq.

Explainer

Syria’s energy push could soon get a major boost from Chevron: What to know

Amjad Kurdo / Middle East Images / AFP via Getty Images

Oil falls below $74 as Hormuz traffic recovers after Iran war

Elke Scholiers/Getty Images

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

LUDOVIC MARIN/AFP via Getty Images

France's Macron eyes defense deals, Lebanon support on Saudi state visit

French President Emmanuel Macron will meet Saudi Crown Prince Mohammed bin Salman for a one-on-one dinner on Tuesday.

This picture taken on Aug. 25, 2022 shows the France flag and Algeria flag ahead of the arrival of French President in Algiers for an official visit.

Analysis

What lessons can France draw from Algeria-Spain trade reset?

Algeria’s central bank has ordered the unfreezing of trade with Spain after nearly two and half years of economic retaliation in return for Madrid endorsing Morocco's autonomy plan for Western Sahara.

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

Heineken

Heineken to draft in Gulf’s first large-scale brewery in Dubai

The Dubai-based brewery will begin construction in late 2025 and has secured all necessary permits, Heineken said in a statement.

United Arab Emirates

Sultan Al Jaber

ADNOC launches $80B low carbon energy company XRG: What we know

XRG, which will operate separately to ADNOC, is expected to double its asset value over the next decade.

United Arab Emirates

A teller counts US dollar bills at an exchange office, Ankara, Turkey, July 20, 2023.

Turkey launches counterfeit US dollar probe as exchange offices halt trade

The Banking Association of Turkey said currency counting machines, counterfeit currency detection devices as well as ATMs were being updated against circulation of counterfeit banknotes.

A man climbs the ramp to enter the Boeing 777X demonstration aircraft at the 2021 Dubai Airshow in the Gulf emirate, on Nov. 14, 2021.

Emirates Airline 'frustrated' at aircraft shortage due to manufacturer delays

Executives at the Middle East’s largest airline have frequently expressed their dismay over delays and uncertainty around the delivery of the Boeing 777-9X jets.

United Arab Emirates

This picture taken on December 18, 2018 shows a view of electricity transmission towers in the Saudi capital Riyadh. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia's electricity sector to see significant transformation by 2030

Gerald Kepes

In Washington, DC, reporting on regional energy trends

A picture taken on Nov. 23, 2016, shows a phosphate rock production site at the Maaden Aluminium Factory in Ras Al-Khair Industrial area near Jubail City, 570 kms east of the Saudi capital Riyadh.

Saudi Arabia seeks mining deals with Chinese, Indian and Canadian firms in industry push

Companies from China and India announced billions of dollars' worth of investments in the Saudi mining sector, while Canadian companies could win contracts in the kingdom.

Turkey in talks for US sanctions waiver to pay for Russian gas

The United States introduced Ukraine war-related sanctions last week against 118 individuals and entities tied to Russia’s financial sector, including Gazprombank, the country’s largest lender yet to be designated by Washington.

Barclays

Barclays fined $50M for failing to disclose 2008 Qatari funding

The UK-headquartered bank will pay a fine of 40 million pounds to British regulators for failing to disclose information of its rescue by Qatar during the 2008 financial crisis.

An aerial view of the solar mirrors at the Noor 1 Concentrated Solar Power plant, some 20 kilometers (12.5 miles) outside the town of Ouarzazate, central Morocco, Feb. 4, 2016.

Five global firms shortlisted in Morocco's controversial Western Sahara energy plans

Construction on the multibillion-dollar energy project, based in Dakhla in the disputed territory, is scheduled for completion in 2029.

A man counts Turkish lira at a currency exchange office in Istanbul, July 29, 2020.

Turkey’s Central Bank holds interest rate at 50%

It marks the eighth consecutive month without a change.