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Economy & Business

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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

Turkey's President Recep Tayyip Erdogan (L) reviews the honour guard as he welcomes Crown Prince of Saudi Arabia Mohammed bin Salman (R) during an official ceremony at the Presidential Complex in Ankara, on June 22, 2022. - Saudi Arabia's de facto ruler took a big step out of international isolation on June 22, 2022, paying his first visit to Sunni rival Turkey since the 2018 murder of journalist Jamal Khashoggi in the kingdom's Istanbul consulate. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Ge

With Gulf charm offensive, Turkey’s Erdogan sets up dealmaking deluge across defense, energy

A Turkish drone factory is coming to Saudi Arabia following a $3.1 billion deal with defense firm Baykar — one of many key deals that should soon take flight across numerous sectors as Turkey deepens cooperation with former Gulf rivals.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A child watches as Jasmine (not pictured) paints amidst the rubble in the city of Jindires on Feb. 28, 2023, near Aleppo, Syria.

Protests in southern Syria as economy worsens

Syria’s economy is in tatters, and the removal of subsidies has led to relatively rare protests in government territory.

An employee works at a bakery selling baguettes in Tunis on August 7, 2023. (Photo by FETHI BELAID / AFP) (Photo by FETHI BELAID/AFP via Getty Images)

Head of Tunisia’s bakery owners union arrested amid bread crisis

President Kais Saied is targeting those he accuses of monopolizing flour amid an ongoing bread shortage.

Israeli soldiers walk near an Israeli Irone Dome defence system (L), a surface-to-air missile (SAM) system, the MIM-104 Patriot (C), and an anti-ballistic missile the Arrow 3 (R) during Juniper Cobra's joint exercise press briefing at Hatzor Israeli Air Force Base in central Israel, on February 25, 2016. - Juniper Cobra, is held every two years where Israel and the United States train their militaries together to prepare against possible ballistic missile attacks, as well as allowing the armies to learn to

US greenlights Israel's $3.5B sale of Arrow 3 air defense system to Germany

Germany has been trying to acquire the system for around a year now, with tension rising between Russia and NATO over the Ukraine war.

Saudi Crown Prince Mohammed bin Salman, right, welcomes Chinese President Xi Jinping.

Saudi Arabia, China sign $1.33 billion in housing deals

The Saudi-China Business Forum represents the latest sign of increased Chinese interest in Saudi Arabia.

A Royal Air Maroc (RAM) Boeing 787-9 'Dreamliner' aircraft lands at Israel's Ben Gurion Airport in Lod on March 13, 2022, after flying RAM's first scheduled commercial flight from Casablanca. - Royal Air Maroc took off from Morocco's economic capital Casablanca bound for Tel Aviv on March 13, in the carrier's first direct flight to the Jewish state since the two countries normalised ties in 2020. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)

Morocco to continue to attract likes of Boeing and Airbus as aeronautics industry grows

Morocco’s aeronautics industry has come a long way over the past decade.

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

This picture taken on Dec. 11, 2019, shows an oil tanker at the port of Ras al-Khair.

Saudi oil exports fall to 21-month low

The decline in the kingdom’s oil exports follows its production cuts as well as those of Russia. Saudi Arabia may face difficulties maintaining price stability moving forward.

Beirut airport

Offshore gas rig sets up in cash-strapped Lebanon

The arrival of the machinery marks a significant development for Lebanon, which hope gas exploration will revive its ailing economy.

AHMAD GHARABLI/AFP via Getty Images

Israel’s inflation drops to 3.3%, beating expectations

Inflation in Israel has dropped to 3.3% from 4.2% in June, even as analysts predicted it would rise in July.

JOHNNY BUGEJA/AFP via Getty Images

Iran’s oil exports to China hit 10-year high

Iran is growing politically and economically closer to China in light of US sanctions.

Then-Crown Prince of Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan (C) with Indian Prime Minister Narendra Modi (R) and Indian President Pranab Mukherjee (L) before a ceremonial reception at the Indian President's house in New Delhi on Jan. 25, 2017.

How significant is India's first ever use of rupees for UAE oil payment?

Abu Dhabi National Oil Company (ADNOC) received the rupee payment of an undisclosed amount from Indian Oil Corp., according to an Indian Embassy statement acquired by Reuters.

United Arab Emirates

Borsa Istanbul

Moody’s upgrades outlook for Turkish banks amid economic U-turn

The US-based rating agency projected Turkey's economic growth to be 4.2% at the end of 2023, falling from 2022’s 5.6%.