Economy and trade

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

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

A picture shows the four seasons hotel in Beirut with the snow covered mountain of Sannine in the background on March 8, 2019.

Explainer

Lebanon advances controversial $500K golden visa law: What to know

While its supporters say the scheme would help Lebanon's economy recover, critics say it could offer a channel for corruption.

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

The deadly explosion marks an early test of Gulf efforts to revive oil and gas production following a historic energy supply shock caused by the US-Israel-Iran war.

A worker counts banknotes after filling up the tank of a vehicle at a petrol station in Giza on March 10, 2026.

Interview

US-Egypt fund makes case for economic statecraft in hard power era

As Washington focuses on war and deterrence, the Egyptian-American Enterprise Fund argues private-sector investment can advance US strategic interests.

Cornelius Queen

Cornelius Queen

Senior Vice President of the Egyptian-American Enterprise Fund

Latest News

Oil falls more than 3% after Iran, US signal progress in talks

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

Analysis

US-Iran deal delivers $300 billion controversy, reconstruction questions

A woman walks past a billboard displaying Iran's national flag at Enghelab Square in Tehran on June 14, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Interview

Franco-Gulf investment holds firm despite Iran war, French official says

French Trade & Invest Commissioner for United Arab Emirates and Middle East and Business France's regional director for the Middle East Axel Baroux. — Business France

Axel Baroux

France’s trade and investment commissioner for the UAE and Middle East

Gulf investment to turn inward to rebuild postwar infrastructure: QNB

A picture taken on June 5, 2017, shows a man walking past the Qatar National Bank branch in the Saudi capital Riyadh.

A Saudi mine worker pours a stream of molten gold from the furnace into moulds to produce gold ingots during a press tour at the Al-Amar Gold Mine, 195kms southwest of the Saudi capital Riyadh, on May 28, 2008.

Will Saudi Arabia see mining gold rush in 2024?

The kingdom plans to take advantage of the growing demand for critical minerals to power the green transition.

India's Prime Minister Narendra Modi (R) shakes hand with United Arab Emirates President Sheikh Mohamed bin Zayed Al-Nahyan ahead of the G20 Leaders' Summit at the Bharat Mandapam in New Delhi on September 9, 2023. (Photo by Evan Vucci / POOL / AFP) (Photo by EVAN VUCCI/POOL/AFP via Getty Images)

UAE's MBZ in India, meets Modi as Houthis' maritime threat expands

The visit comes amid a spike in Houthi maritime attacks that are increasingly disrupting Gulf waters and encroaching on India's coast.

KHALED DESOUKI/AFP via Getty Images

UAE’s AD Ports to develop Egypt Red Sea cruise terminals despite instability

Attacks by the Iran-backed Houthis on international ships have prompted some firms to steer clear of the waterway.

Kemi Badenoch 1

UK, Turkish trade ministers meet in Turkey, announce joint railway deal

The two countries have an existing trade deal that covers goods but not services, digital trade or data.

People attend the International E-Sport Gamers forum Next World in the Saudi capital, Riyadh, on Sept. 7, 2022.

Saudi PIF invested $31.6B in 2023, record in global sovereign wealth funds

The PIF is estimated to have nearly $800 billion in assets and wants to become the world’s largest sovereign wealth fund by 2030.

Turkish President Recep Tayyip Erdogan.

Turkey’s exports to Saudi Arabia, UAE and Russia shoot up in 2023: Erdogan

The Turkish president also said the country’s total export revenues reached an all-time high.

11/24/2023 Tehran, Iran. Two Islamic Revolutionary Guard Corps (IRGC) armed military personnel are monitoring an area while standing guard next to an Iranian Majid anti-aircraft missile system during the Ela Beit Al-Moghaddas (Al-Aqsa Mosque) military rally in Tehran, Iran. (Photo by Hossein Beris / Middle East Images / Middle East Images via AFP) (Photo by HOSSEIN BERIS/Middle East Images/AFP via Getty Images)

2023 in review: Iran sees opportunity in Gaza war, steps up crackdown at home

Iran's theocratic establishment engaged in a flurry of foreign diplomacy to try to ease the international isolation it is facing, while at home it intensified its crackdown on dissent.

Russian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022. - Iran's president will host his Russian and Turkish counterparts for talks on the Syrian war in a three-way summit overshadowed by fallout from the Russian invasion of Ukraine. (Photo by Sergei SAVOSTYANOV / SPUTNIK / AFP) (Photo by SERGEI SAVOSTYANOV/SPUTNIK/AFP via Getty Images)

What is behind Iran-Russia de-dollarization deal as sanctions bite?

The long-awaited agreement was one among several solutions the two countries have sought to salvage their battered economies, which remain cut off from key international banking systems.

An employee of the Saudi Arabian Mining Company (Ma’aden) is pictured in this undated image.

Saudi mining firm Ma’aden announces gold discovery

Saudi Arabia seeks to boost its mining sector, including via investment at home and abroad.

The Container ship Maersk Bratan" is discharged at the terminals of HHLA (Hamburg Port Logistics Inc) in Hamburg on June 22, 2022.

Explainer: Major shipping giants resume Red Sea routes amid Houthi attacks

The Iran-backed Houthi rebels in Yemen have fired on international ships and Israel’s port in the Red Sea since the Gaza war began, wreaking havoc on the global shipping industry.

Starbucks demonstration

How Starbucks fell from favor with pro-Israel and pro-Palestinian activists

The coffee giant is no stranger to frothy accusations of being pro-Israel, and now a pro-Palestinian post on one of its union's social media accounts has sparked a boycott.

A picture obtained by AFP from Iranian News Agency ISNA on June 13, 2019, reportedly shows fire and smoke billowing from Norwegian-owned Front Altair tanker said to have been attacked in the waters of the Gulf of Oman

Houthi missile hits Norwegian-flagged tanker in latest Red Sea attack

Iran-backed rebels hit a Norwegian-owned chemical tanker with a cruise missile, but the ship had no clear connection to Israel, signaling the Houthis may be widening the aperture of their attacks.