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Economy & Business

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China’s overland trade routes offer Iran wartime economic lifeline: What to know

Cargo rail traffic between China and Iran has reportedly surged since the US blockade began in April as Tehran seeks overland trade alternatives to help buy time.

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.

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Few ships pass Hormuz despite US efforts to break Iran's hold

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)

Iran strikes UAE’s Fujairah oil hub as US pushes Hormuz reopening

Meysam MIRZADEH / TASNIM NEWS / AFP via Getty Images

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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

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

TO GO WITH AFP STORY BY SALAM FARAJ An Iraqi money dealer counts Iranian rial banknotes bearing a portrait of the late founder of the Islamic Republic of Iran, Ayatollah Ruhollah Khomeini, at an exchange office in Baghdad on February 3, 2012. Tens of thousands of Iranian visitors have been finding difficulty in using the Iranian currency in Iraq due to a depreciation of the rial against the dollar. AFP PHOTO/ ALI AL-SAADI (Photo credit should read ALI AL-SAADI/AFP/GettyImages)

How will uncertainty and government policies impact Iran’s economic outlook in 2024?

Bijan Khajehpour

Bijan Khajehpour

In Vienna, reporting on Iranian politics

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China's Nio electric vehicle maker gets $2.2 billion from UAE investment firm

Nio is seeking money from the Middle East due to its financial struggles.

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BP, Equinor change oil shipment plans after Red Sea Houthi attacks

The Iran-backed rebels have said the attacks are in retaliation for the war in Gaza.

People wait at a gas station as fuel distribution across more than 70% of gas stations is disrupted, Tehran, Iran, Dec. 18, 2023.

Iran says ‘enemy conspiracy’ behind outage at 70% of gas stations

The Oil Ministry’s Shana news agency reported that operations will be running again as normal within “a few hours” and until then fuel is being distributed offline.

RIYADH, SAUDI ARABIA - OCTOBER 31: The Skyline of Riyadh is seen on October 31, 2023 in Riyadh, Saudi Arabia. Saudi Arabia is set to host the men's 2034 World Cup after Fifa confirmed it was the only bidder for the tournament. (Photo by Justin Setterfield/Getty Images)

Saudi Arabia’s multinational HQ deadline nears amid uncertainty for companies and Gulf competition

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A picture taken on November 23, 2016 shows smoke plumes rising behind a billboard at the Maaden Aluminium Factory in Ras Al-Khair Industrial area near Jubail City, 570 kms east of the Saudi capital Riyadh.

Middle East transparency on carbon emissions lags behind rest of world

Turkey and the UAE led the pack for most transparent countries in the region regarding greenhouse gas emissions.

United Arab Emirates

People wave Hezbollah and Iranian flags at a rally in Baalbek, Lebanon, May 13, 2022.

Britain hits Iran and its foreign proxies with fresh sanctions

The measures, coordinated with the United States, also target Iran's shipping sector and drone exports.

Pedestrians walk past a billboard announcing the World Bank Group and International Monetary Fund annual meetings, where the organizations looked to scale up and retool to pursue ambitious global climate goals, Washington, DC, Oct. 5, 2023.

World Bank ups Middle East climate financing to $10B by 2025

The global lender provided $6.3 billion in climate financing for the MENA region between 2021 and 2023, much of it focused on mitigation and adaptation.

COP28 conclusion

COP28: historic deal agreed for world to ‘transition away’ from fossil fuels

The summit stretched into prolonged negotiations over the terminology of the final text, after the “phase out” of fossil fuels was omitted from the draft a day before the scheduled end of the event.

United Arab Emirates

Saudi Arabia's Minister of Investment Khalid Al-Falih speaks on stage during the 2022 Concordia Annual Summit at the Sheraton Hotel, New York, Sept. 19, 2022.

China-Saudi Investment Conference begins in Beijing

China is Saudi Arabia’s largest trading partner and biggest customer of its primary commodity: crude oil.

Bahrain's Investcorp buys 50% of Corsair's $4.8B infrastructure business

The new entity, Investcorp Corsair, will continue to grow with a particular focus on transportation, logistics and related subsectors, a statement from the two companies said.

A general view during the star-studded Sake Ceremony hosted by Nobu Matsuhisa and Meir Teper to inaugurate the grand opening of Nobu Dubai, at Atlantis The Palm, Dubai, United Arab Emirates, Jan. 20, 2023.

First commercial brewery to open in United Arab Emirates

Previously, the only way a vendor or business could sell beer in the UAE would be if it was manufactured overseas.

United Arab Emirates