Economy & Business - AL-MONITOR: The Middle Eastʼs leading independent news source since 2012

Business and Economy Cover Image

Economy & Business

TOPSHOT - Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf's petroleum facilities hours after the US struck Iran's Kharg Island. (Photo by AFP via Getty Images) /

Explainer

IMF projects Gulf rebound in 2027. Can energy production keep pace?

Restoring shipping access in the Strait of Hormuz is only part of the recovery, as Gulf producers also need to repair damaged infrastructure to avoid further disruption to production and exports.

Men walk at a terminal at Saudi Arabia's King Abdulaziz International Airport in Jeddah on December 12, 2019. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Jeddah airport flights disrupted as Houthis escalate threats

Saudi Arabia’s busiest airport, Jeddah King Abdulaziz International Airport, saw widespread flight cancellations and delays on Tuesday.

UAE President Sheikh Mohamed bin Zayed and Manchester City's Emirati owner and UAE Vice President Sheikh Mansour bin Zayed

Analysis

How Manchester City fallout tests Gulf’s global investment model

The Premier League’s historic financial misconduct ruling against the Emirati-owned club has sparked a media firestorm and experts say fallout could extend beyond the pitch to impact Gulf investment in sports and other industries.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport, Riyadh, Saudi Arabia, June 7, 2026.

Explainer

What Houthi airport attacks mean for Saudi Arabia’s aviation ambitions

The kingdom has spent recent years pouring billions into a new airline and airport infrastructure amid efforts to compete with established Gulf travel hubs.

Latest News

Saudi Arabia outlines oil export plans amid escalating Houthi attacks

Guests attend the 25th WPC Energy Congress, Riyadh, Saudi Arabia, Oct. 12, 2026.

Riyadh’s skies remain unsettled after deadly Houthi strikes

Cars drive past the gates of King Khalid International Airport in Riyadh on Sept. 19, 2026.

Riyadh airport issues travel alert as Yemen's Houthis claim fresh attack on Saudi Arabia

Travelers queue to check in their luggage at the terminal at King Khalid International Airport in Riyadh, on March 10, 2026.

Iraq devalues dinar 13% as Hormuz disruption hits oil revenue

A man walks past a closed foreign exchange office in Baghdad on October 7, 2026. Iraq's central bank devalued the dinar currency against the dollar on October 7, with the country facing a deepening crisis brought on by the Middle East war. (Photo by AHMAD AL-RUBAYE / AFP via Getty Images)

Samuel Wendel

Senior Analyst, Middle East Business & Tech

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

Gold bar wrapped in a financial newspaper.

Russia becomes UAE’s top gold supplier as Ukraine sanctions bite

The United Arab Emirates bought 96.4 tons of gold from Russia in 2022, making it Moscow's top gold importer.

United Arab Emirates

AIIB

China development financier AIIB opens first global office in UAE

Bank officials expect that the new Abu Dhabi location will help extend their reach to finance sustainable development projects.

United Arab Emirates

UAE trade minister

UAE eyes Serbia trade deal as CEPA blitz continues

Non-oil trade between the two countries reached $57.6 million in the first half of 2023, surpassing their entire non-oil trade value for the year 2020.

United Arab Emirates

TOPSHOT - This picture taken on February 6, 2023 shows a view of the Nasr Coke and Chemical industrial plant in Helwan, south of Egypt's capital. (Photo by Amir MAKAR / AFP) (Photo by AMIR MAKAR/AFP via Getty Images)

Egypt’s industrial sector to record modest growth despite government push

Egypt seeks to streamline and accelerate the development of local manufacturing to ultimately narrow its negative trade balance.

Marc Español

WANG ZHAO/AFP via Getty Images

China’s Alibaba to invest $2 billion in Turkey

The news follows economic changes in Turkey as well as improving ties between Turkey and China.

La Mer North marina is seen with the Burj Khalifa and the Dubai skyline seen in the background, United Arab Emirates, Feb. 1, 2020.

UAE revenue jumps 31.8% in 2022

The UAE Ministry of Finance reported a 6.1% increase in expenditure last year compared to 2021, which amounted to around $116.3 billion.

United Arab Emirates

Chris McGrath/Getty Images

Turkey’s central bank mulls giant interest rate hike up to 10% to fight inflation

Alarmed by resurging price increases, central bank officials reportedly believe that a rate hike of up to 10 percentage points is an inevitable part of monetary tightening to tackle inflation.

A man browses a phone while sitting next to a motorcycle along a street in Tehran on September 10, 2023. Iranian authorities have blocked popular social media networks, including Instagram and WhatsApp since mass protests erupted following the September 2022 death in police custody of 22-year-old Iranian Kurd Mahsa Amini. The restrictions come as millions of Iranians struggle to make ends meet, grappling with in an economic crisis marked by crippling Western sanctions, a galloping inflation, and sharp decli

Iran's economic woes persist a year on Mahsa Amini protests

Inflation and unemployment rates remain high, which could contribute to a renewed burst of demonstrations.

Turkish President Recep Tayyip Erdogan (R) and Chinese President Xi Jinping (L) inspect Chinese honour guards during a welcome ceremony outside the Great Hall of the People in Beijing on July 2, 2019. (Photo by WANG ZHAO / AFP) (Photo by WANG ZHAO/AFP via Getty Images)

Turkey, China near agreement on nuclear power plant

If built, the facility will likely be Turkey's third nuclear plant, with Russia currently constructing its first.

This image shows high-rise buildings in Dubai, on Feb. 18, 2023.

Dubai ranks first in luxury home sales in second quarter: report

Dubai was one of only four markets to see growth in its overall sales volume of luxury homes between Q2 2022 and Q2 2023 at 79%, along with Sydney (46%), Paris (17%) and Geneva (7%).

United Arab Emirates

German President Frank-Walter Steinmeier and First Lady Elke Buedenbender Chat with refugees attending the training program for mechanics while visiting the Gallinchen job training and technology center on June 23, 2017 in Cottbus, Germany

The EU’s migration roadmap: harnessing North African talent to bridge the labor gap

For years, European nations have been courting talent from the Maghreb region, offering youth opportunities in key domains with domestic shortages such as IT, science, engineering, healthcare and agriculture.

Francois Nel/Getty Images

Dubai apartment prices soar, spooking expats

The cost of the average apartment in Dubai rose 20% in one year through August.

United Arab Emirates