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Economy & Business

MUMEN KHATIB/AFP via Getty Images

Why UAE's decision to leave OPEC is major shift for cartel

The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil.

United Arab Emirates

Yuichi YAMAZAKI / AFP via Getty Images

First LNG tanker transits Strait of Hormuz since Iran war began

An Iranian grocer sells pistachios imported from Iran at a Persian products shop in the Gulf emirate of Dubai on July 10, 2019. (Photo by Karim SAHIB / AFP) (Photo credit should read KARIM SAHIB/AFP via Getty Images)

Pistachios reach highest prices in eight years amid Iran war

Pistachio prices rose to around $4.57 a pound in March, their highest since 2018, according to data company Expana.

A view of Dubai Marina in Dubai on March 3, 2026.

UAE’s cash request tests US ties as Iran war strains Gulf financial muscle

Amid growing economic fallout from the regional war, Abu Dhabi’s bombshell request for a war-time financial lifeline from the United States is less about cash and more about clout — for now.

United Arab Emirates

Latest News

IEA delivers grim gas supply forecast as oil notches 15% weekly rise

A liquefied natural gas (LNG) tanker is moored at a LNG berth in Kawasaki, Kanagawa, prefecture April 8, 2026.

Why did the Met Opera lose its Saudi funding deal?

A person walks past the closed Metropolitan Opera at Lincoln Center on Jan. 7, 2021, in New York City.

Which airlines are cutting flights amid Hormuz fuel disruption?

Refueling trucks are seen at Southend Airport on April 17, 2026, in Southend, England.

How are Iran-linked tankers still moving through Hormuz blockade?

BAY ISMOYO / 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

Man Utd

Manchester United takeover ‘paused’ amid Qatari frustration: reports

The club's owners the Glazer family reported they want around 6 billion pounds ($7.72 billion) for the soccer club, but the two bids value Manchester United at around 5 billion pounds.

NEW YORK, NEW YORK - AUGUST 10: A Chipotle store signage is seen on August 10, 2022 in New York City. NYC Mayor Eric Adams announced on Tuesday that Chipotle Mexican Grill announced that they will be paying $20 million dollars to current and former workers in their NYC restaurants for violating city labor laws. The settlement will cover about 13,000 employees who worked at the chain's NYC stores between 2017 and this year. (Photo by Michael M. Santiago/Getty Images)

Popular Mexican food chain Chipotle coming to UAE, Kuwait

The fast-food giant that specializes in Mexican food is one of the biggest in the United States.

Xi Jinping Abdulmajid Tebboune

Algeria, China sign 19 agreements during Tebboune's visit, including energy, technology

Xi Jinping received Abdelmadjid Tebboune and his delegation at Beijing's Great Hall of the People to discuss bilateral relations.

Japan's Prime Minister Fumio Kishida prepares before a roundtable meeting during the 29th EU-Japan Summit at the European Union building, Brussels, Belgium, July 13, 2023.

Analysis

On Gulf tour, Japan's PM secures energy ties as China’s influence grows

Prime Minister Fumio Kishida’s three-day trip that began Sunday to Saudi Arabia, the United Arab Emirates and Qatar — its key energy suppliers — is seen as a crucial move to secure Japan’s energy future.

By Salim A. Essaid

A worker fumigates a house against the Aedes aegypti mosquito to prevent the spread of dengue fever in a neighborhood in Piura, northern Peru, on June 11, 2023. (Photo by ERNESTO BENAVIDES / AFP) (Photo by ERNESTO BENAVIDES/AFP via Getty Images)

Dengue fever outbreak in Egypt forces Russia to issue tourism warning

Most cases of the mosquito-borne virus are not severe. Russia has implemented health measures for flights from Egypt as a result of the outbreak.

A man counts Turkish liras at a currency exchange office, Istanbul, Turkey, July 29, 2020.

Turkish lira hits record low, losing 2% amid concerns of smaller rate increase

As of 4:15 p.m. Istanbul time, the lira was trading at 26.99 against the dollar, 2.4% less than Monday’s close of 26.3505.

A car drives past a road signal indicating the Allenby (King Hussein) bridge crossing point to Jordan.

Work on Israel-Saudi land bridge has begun, Israeli Foreign Ministry confirms

The project will facilitate the transfer of goods in trucks intially between the UAE, Israel, Jordan and Saudi Arabia.

A woman takes a photo of the LEGO-made Sheikh Zayed Grand Mosque miniature at Dubai's LEGOLAND theme park, on March 7, 2022. - Over 60 million LEGO bricks are in MINILAND, where LEGOLAND Dubai has recreated scenes and famous landmarks from the UAE and Middle East region, including Burj Khalifa, Burj Al Arab, the Sheikh Zayed Grand Mosque. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Gulf’s non-oil growth offers new investment opportunities

The Gulf’s largest economy has encouraged foreign investors to invest in its emerging non-oil sectors.

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Japan's Prime Minister Fumio Kishida speaks during the UAE - Japan Business Forum in Abu Dhabi on July 17, 2023. (Photo by KARIM SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Japan’s PM visits UAE after Saudi Arabia, talks green energy, supply sources

Japan is trying to move away from fossil fuels toward greener energy, which it plans to promote in the region during Prime Minister Fumio Kishida’s visit to the Gulf this week.

The Barbados-flagged ship "Nord Vind" coming from Ukraine loaded with grain is anchored for inspection in Istanbul, on Oct. 11, 2022.

Wheat prices rise by nearly 3% as Russia-Ukraine grain deal expires

Turkish President Recep Tayyip Erdogan said he may call his Russian counterpart, Vladimir Putin, in an effort to save the export deal. The deal’s termination could have economic effects on the Middle East.

Traders follow the movement of stock prices at the Boursa Kuwait, Kuwait City, Kuwait, March 2, 2022.

Kuwait's new sovereign wealth fund Ciyada to boost foreign investment

The Gulf country already has the Kuwait Investment Authority with assets of about $803 billion, making it the fifth-largest sovereign wealth fund globally.

Mark Rutte, Kais Saied, Ursula von der Leyen, Giorgia Meloni

EU, Tunisia ink 'strategic partnership' to help economy, stem migrants

It comes after weeks of talks between the two parties about the EU providing around 1 billion euros in aid, which would be dependent on Tunisia's IMF bailout.