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Economy & Business

Foreign Ministry Spokesperson Lin Jian holds a press conference on Aug. 19, 2026.

China slams Trump over economic war on Iran: What to know

China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions.

Iranians drive past an anti-US billboard at Enghelab Square in central Tehran, Aug. 3, 2026.

Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94

In a Truth Social post, the president threatened that any country that provides a financial lifeline to Iran will face "tremendous economic consequences."

AHMAD AL-RUBAYE / AFP via Getty Images

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

As Iran's parliament speaker holds talks in Baghdad, Iraq has asked Tehran for special consideration for its oil exports.

Latest News

Turkey looks to expand Syria energy footprint into oil, gas

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Leon Neal/Getty Images

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Explainer

What US sanctions on Syria remain as Shibani, Barrack hold talks?

RAMI AL SAYED/AFP via Getty Images

UAE billionaire Habtoor takes aim at Ben Gvir’s Gaza rhetoric

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.

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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

Turkey ExxonMobil

Turkey’s BOTAS signs $1.1B long-term LNG deal with ExxonMobil

Turkey and ExxonMobil have signed a major liquified natural gas deal as Ankara looks to diversify its energy sources.

Elbit Systems

Israel's Elbit clinches $53M deal to sell mortar systems to Europe

Between 2019 and 2023, Israeli weapons constituted 2.4% of the global market, massively reshaped by Russia's invasion of Ukraine and increased imports by European countries.

A picture taken on January 23, 2022, shows the skyline of the Emirate of Dubai with Burj Al Arab (C) and Burj Khalifa (background-L). (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Dubai crowned wealthiest city in Middle East, home to 72,500 millionaires

The number of individuals in Dubai with liquid investment wealth — assets that can be readily converted to cash — of $1 million or more increased by 78% between 2013 and 2023 to 72,500, according to a report.

United Arab Emirates

Supporters of Islami Jamiat-e-Talaba (IJT), a student wing of Pakistan's Jamaat-e-Islami (JI) party stage a pro-Palestinian protest outside a Kentucky Fried Chicken (KFC) restaurant calling for boycott of Israeli products on the outskirts of Islamabad on May 7, 2024, amid the ongoing war between Israel and the militant Hamas group in the Gaza Strip. (Photo by Farooq NAEEM / AFP) (Photo by FAROOQ NAEEM/AFP via Getty Images)

KFC, Pizza Hut profit in Middle East cut by half amid Gaza war boycotts

Americana Restaurants said the decline was due to the “ongoing geopolitical tensions” in the Middle East and the effect of the Ramadan period.

This photograph taken on January 12, 2024, shows an oil refinery in the desert between Shubaytah and Shubaytah, of the Dakar rally 2024, in Saudi Arabia, on January 12, 2024. (Photo by PATRICK HERTZOG / AFP) (Photo by PATRICK HERTZOG/AFP via Getty Images)

What's behind Saudi Arabia's increase in crude oil prices for Asian market?

The kingdom wants to restrain oil production to keep demand up, but the increase in prices to Asian customers is more related to refining values, says one expert.

An aerial view shows the Central Business District (Ruwi) in the Omani capital Muscat on April 9, 2021. (Photo by Haitham AL-SHUKAIRI / AFP) (Photo by HAITHAM AL-SHUKAIRI/AFP via Getty Images)

Sovereign fund-led economy: Oman takes a page from Saudi Arabia

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

People salvage belongings after heavy flooding due to record rains in Dubai, April 19, 2024.

UAE’s non-oil revenues hit by April floods, but quick recovery expected

The seasonally adjusted S&P Global UAE Purchasing Managers’ Index fell to 55.3 points in April, still indicating growth, but had been at 56.9 the previous month.

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People walk at Kadikoy district in Istanbul on March 5, 2024. Turkey's annual inflation rose again in February, reaching 67.1 percent despite a string of interest rate hikes, official data showed on Monday. The Turkish central bank held its key interest rate at 45 percent last month, pausing after eight straight increases aimed at taming consumer prices that had remained stable at 64.9 percent in January.

Turkey’s annual inflation surges to almost 70% in April

April's inflation rate marks Turkey’s highest in the past 16 months, driven primarily by price increases in education, restaurants and hotels, and transportation.

A woman writes "complicit" and "boycott" on a Starbucks window.

Starbucks, McDonald's, KFC continue to feel effects of Gaza war boycotts

Starbucks on Tuesday lowered its expectations for full-year sales and profits after a disastrous quarter that saw a marked drop-off in customer traffic.

This picture taken December 12, 2019 shows a man monitoring the board at the Stock Exchange Market (Tadawul) bourse in Riyadh. - Energy giant Saudi Aramco's market value soared above $2 trillion as its share price surged again on its second day of trading. The valuation milestone was sought by Saudi Crown Prince Mohammed bin Salman when he first floated the idea of selling up to five percent of Aramco, the world's largest oil firm, about four years ago. Aramco shares jumped another 9.7 percent to 38.60 riya

Mideast passes stress test as Iran-Israel trade blows, but economic challenges remain

Telegraph

UAE-backed RedBird IMI pulls out of Telegraph deal, will sell UK newspaper

RedBird IMI effectively took control of Telegraph Media Group in December, when it repaid the owner family’s debts, including a $753 million loan against the media outlets.

United Arab Emirates

Finalization of a historic Comprehensive Economic Partnership Agreement (CEPA) between Ukraine and the UAE.

UAE, Ukraine conclude trade deal talks, Emirates to help post-war reconstruction

Ukraine’s bilateral trade has sharply fallen since Russia invaded the country in February 2022.

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