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Economy & Business

AHMAD AL-RUBAYE / AFP via Getty Images

Here's what to know about Iraq's corruption as Zaidi launches crackdown

Watchdogs and financial institutions regard Iraq as a significantly corrupt country as the new prime minister works to recover public funds.

AFP via Getty Images

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

Latest News

Explainer

Gulf states push incentives for investors, expats after war dents image

FADEL SENNA/AFP via Getty Images

United Arab Emirates

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

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

A Qatari trader prepares before the opening of the stock market at the Qatari stock exchange in Doha on July 31, 2017. / AFP PHOTO / STRINGER (Photo credit should read STRINGER/AFP via Getty Images)

Qatar joins Gulf IPO spree as post-World Cup economic plans advance

Samuel Wendel

In Washington, DC, reporting on regional business and tech

AFP via Getty Images

Analysts skeptical new Iran-US arrangement would significantly impact oil market

Tehran has been increasing its output over the last year despite the sanctions on its oil industry.

ISTANBUL, TURKEY - MAY 03: People shop at a local street market on May 03, 2023 in Istanbul, Turkey. Persistently high inflation has led to a cost-of-living crisis in Turkey that has hurt President Erdogan's popularity ahead of the March 14 presidential election. (Photo by Burak Kara/Getty Images)

Turkey raises taxes up to 20% on basic goods as deficit, inflation linger

The move follows changes to Turkey’s monetary policy and a new cabinet following President Recep Tayyip Erdogan’s reelection.

This picture taken from the sea of Dubai on March 3, 2021 shows the skyline of the Gulf emirate with Burj Khalifa in the centre.

UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday.

United Arab Emirates

Sultan Al Jaber

UAE COP28 president calls on oil firms to 'deliver climate action'

Sultan Ahmed Al Jaber gave a televised address to delegates at the OPEC International Seminar in Vienna, a meeting of oil executives and OPEC ministers.

United Arab Emirates

OPEC Secretary-General Haitham Al Ghais

OPEC on hunt for new members, secretary-general says

The oil cartel currently has 13 members, and 10 more countries form the OPEC+ group.

Justin Rose of England and his caddy look on, on the 9th hole during Day Four of the Saudi International.

Saudi Arabia to launch new sports investment group: report

The Financial Times report follows the merger between the Saudi-funded LIV Golf and the PGA Tour, but challenges remain as the kingdom eyes investment in golf, tennis and possibly American football.

JOE KLAMAR/AFP via Getty Images

At OPEC, Saudi Arabia defends oil cuts with Russia despite mild market reaction

The kingdom's energy minister called for more industry transparency, despite several news organizations being prohibited from reporting on the OPEC conference he was speaking at.

Sheikh Mohammed bin Radhid Al-Maktoum

UAE establishes investment ministry, forms EV and green policies

Sheikh Mohammed bin Rashid Al Maktoum, the UAE Prime Minister and Ruler of Dubai, chaired a high-level cabinet meeting in Abu Dhabi on Monday and formed the country's Ministry of Investment.

United Arab Emirates

Zach LaVine (#8) of the Chicago Bulls goes up for a layup against Daniel Gafford (#21) of the Washington Wizards.

Analysis

After Saudi golf merger, will Qatar’s entry into NBA change US sports?

The Qatari Investment Authority’s bid to purchase stakes in Washington’s professional basketball and hockey teams could boost Qatar’s image and influence in the United States and coincides with similar moves by Saudi Arabia.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

ISTANBUL, TURKEY - JUNE 23: People walk past a currency exchange shop on June 23, 2023 in Istanbul, Turkey. The Turkish Lira weakened to a record low of 25.74 against the dollar, a day after the central bank hiked interest rates from 8.5 percent to 15 percent in the first rate decision since the appointment of new central bank governor Hafize Gaye Erkan and the re-election of President Recep Tayyip Erdogan last month. (Photo by Chris McGrath/Getty Images)

Turkish lira outlook: Policy shift indicates progress, but bolder rate hikes needed for investor confidence

The recent rise in interest rates in Turkey could potentially signal a turning point for the Turkish lira.

Piero Cingari

A picture shows the Iranian South Pars quarter one (SPQ1) gas platform in the Gulf near Qatar's territorial waters on Jan. 26, 2011.

Kuwait rejects Iran's drilling plans in disputed gas field in Gulf

Kuwait and Saudi Arabia have a longstanding dispute with Iran over the Durra gas field. The recent disagreement follows improvement in Iran's relations with both countries.