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Economy & Business

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Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.

AHMAD AL-RUBAYE / AFP via Getty Images

Here's what to know about Iraq's corruption as Zaidi launches crackdown

Watchdogs and financial institutions regard Iraq as a significantly corrupt country as the new prime minister works to recover public funds.

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

Latest News

Analysis

Why the Hormuz oil shock never became an energy catastrophe

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

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Explainer

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

FADEL SENNA/AFP via Getty Images

United Arab Emirates

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

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

Visitors stop at the Aramco exhibition section at the Misk Global Forum on innovation and technology held in the Saudi capital Riyadh on November 13, 2019. - The Misk non-profit foundation was established by Saudi Arabia's powerful crown prince, Mohammed bin Salman to empower Saudi youths through cultivating learning and leadership. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Aramco pivots investment plans as deals beckon in key Asian growth markets

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A pedestrian walks past a branch of a Lloyds Bank in London on Feb. 24, 2021.

Analysis

Iran's use of 2 UK banks to evade sanctions tests West's financial systems

The Financial Times reported earlier this week that Lloyds Bank and Santander UK provided accounts to companies with links to Iran’s intelligence services.

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

An oil tanker waits near the Marathon Anacortes Refinery, operated by Marathon Petroleum, in Anacortes, Washington, March 8, 2022.

US sanctions UAE entities for allegedly violating Russian oil price cap

The US Treasury Department also moved to crack down on entities buying diamonds from Russia, a key revenue stream for Moscow amid its war against Ukraine.

United Arab Emirates

A man poses for video outside a Starbucks coffee shop in a market area in Dubai on May 18, 2023.

US firm mulls stake in Starbucks Middle East franchise as local competition heats up

Apollo Asset Management's reported interest comes after the coffee chain said boycotts related to the Gaza war had hurt its regional business.

ISMAILIA, EGYPT - JANUARY 10: A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. In the wake of Israel's war on Gaza after the October 7 Hamas attack on Israel, Houthi rebels in Yemen pledged disruption on all ships destined for Israel through the Red Sea's Suez Canal. The disruption on world trade is evident in the number of companies using this container ship route - a 90 per cent decline compared to figures one year ago. (Photo by Sayed Hassan/Getty Images)

Middle East-China trade prospects remain robust despite Red Sea crisis

Howard J. Shatz

Howard J. Shatz

An Egyptian woman shops at a fruit market in Cairo, on March 17, 2022.

What’s behind Egypt decision to raise minimum wage, government salaries by 50%?

Egypt’s economy has suffered from high inflation for years, and now the spillover from the Gaza war is exacerbating the situation.

A sign for the London Metal Exchange (LME).

London Metal Exchange to build delivery centers in Saudi Arabia

Investors and mining companies are bracing for a wave of exploration licenses awarded in Saudi Arabia after the kingdom nearly doubled its untapped mineral estimate to $2.5 trillion and announced new incentives for miners in January.

A billboard with pictures of Indian Prime Minister Narendra Modi (L) and President of the United Arab Emirates (UAE) Sheikh Mohammed bin Zayed Al Nahyan.

Gulf-India relations boosted by UAE deals, Saudi Aramco talks

India has made deals with the UAE and Qatar recently, and trade between India and the GCC is rising.

Farmers spray grapevines at a vineyard in Souidania town, 15 Km west of the Algerian capital, on May 16, 2022. (Photo by RYAD KRAMDI / AFP) (Photo by RYAD KRAMDI/AFP via Getty Images)

Algeria to miss its 2024 food import reduction target amid worsening drought conditions

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

FAYEZ NURELDINE/AFP via Getty Images

Saudi inks $3.2B missile defense deal with South Korea as Iran attends expo

The World Defense Show has yielded deals between Saudi Arabia and South Korea and may lead to the strengthening of the kingdom’s ties with Iran, the United States and others.

QatarEnergy India LNG

India bets on Qatar again with 20-year LNG deal

India is one of Qatar's top LNG customers, and the Gulf country is looking to expand its reach in Asia and Europe amid high export targets and increasing competition from the United States' expanding natural gas market.

ALI KHALIGH/Middle East Images/AFP via Getty Images

How the Gaza boycotts are impacting McDonald's, Starbucks sales

Last month, McDonald’s CEO Chris Kempczinski said “misinformation” about the company’s position on the conflict had hurt the business.