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Economy & Business

Haitham AL-SHUKAIRI / AFP via Getty Images

Oman enters Gulf AI race with new special economic zone in Muscat

Oman will create an AI-focused special economic zone in Muscat governorate.

A pumpjack stands idle in the Huntington Beach oil field, with port cranes visible in the distance, on April 23, 2026, in Huntington Beach, California.

Oil surges past $120 to war-time high as Trump rejects Iran overture

Benchmark Brent crude surpassed $120 per barrel on Wednesday, reaching the highest levels yet seen during the US-Israel-Iran war.

An Iraqi money dealer counts Iranian rial banknotes bearing a portrait of the late founder of the Islamic Republic of Iran, Ayatollah Ruhollah Khomeini, at an exchange office in Baghdad on Feb. 3, 2012.

Iranian rial hits new record low as blockade, war take toll: What to know

The rial had another collapse in late 2025, triggering massive protests and riots in the country that were ended by a forceful government crackdown.

GIUSEPPE CACACE/AFP via Getty Images

Analysis

UAE’s OPEC exit rattles cartel as Gulf alliances shift

OPEC's fourth-largest producer will leave the cartel on May 1, marking the most significant departure in the group’s history as the war changes Abu Dhabi's relationship priorities.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Latest News

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

MUMEN KHATIB/AFP via Getty Images

United Arab Emirates

First LNG tanker transits Strait of Hormuz since Iran war began

Yuichi YAMAZAKI / AFP via Getty Images

Pistachios reach highest prices in eight years amid Iran war

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)

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

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

United Arab Emirates

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 doctor in the oncology department of the Hotel-Dieu de France reviews anticancer drugs in the hospital pharmacy, Beirut, Lebanon, Oct. 7, 2022.

Lebanese turn to alternative medicine as health care costs soar

Many in Lebanon are opting for alternative medicine to treat physical and psychological maladies after no longer being able to afford health services.

Journalists take images of Peugeot 207 and 206 car production lines at the Iran Khodro auto plant.

Iran sanctions French carmakers

Peugeot, Renault and Citroen all do considerable business in Iran. The move follows new European Union sanctions against Iran in relation to the anti-government protests in the country.

Al-Monitor business correspondent Salim A. Essaid moderates a panel with global regulators from the US, India, Italy, and the UAE at Abu Dhabi Finance Week (ADFW) on November 15th 2022.

Who’s to blame for FTX, future cryptocurrency failings?

As the crypto world reels from the FTX currency exchange's bankruptcy, how can the industry protect the cryptocurrency market?

BudZero

Qatar reverses course, bans alcohol at World Cup

Budweiser had obtained exclusive rights to sell beer in the stadiums, but can now sell it only in luxury boxes.

UAE solar farm

Gulf states chart own investment course in climate finance

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Egypt's Foreign Minister Sameh Shoukry (R) speaks as UN Secretary-General Antonio Guterres listens at a press conference during the COP27 climate conference, Sharm el-Sheikh, Egypt, Nov. 17, 2022.

Egypt reaps economic, political gains from COP27

Egypt has achieved several major deals as well as boosted its foreign policy by hosting COP27.

An Etihad Airways Boeing 787-9 "Dreamliner" aircraft lands at Israel's Ben Gurion Airport near Tel Aviv, on Oct. 20, 2020.

Etihad launches initiative on sustainable aviation fuel to decarbonize flights

Sustainable aviation fuel, which is sourced from biological materials, has great carbon reduction potential. However, airlines' reluctance to spend more on fuel is hampering its development, according to some observers.

Saudi Crown Prince Mohammed bin Salman (L) speaks with South Korean President Moon Jae-In (not pictured) during a meeting at the Presidential Blue House, Seoul, South Korea, June 26, 2019.

Saudi Aramco makes $7 billion investment in South Korea during crown prince’s visit

Saudi Crown Prince Mohammed bin Salman is seeking to boost energy, defense and investment cooperation with Seoul during his trip.

YASIN AKGUL/AFP via Getty Images

Turkish exporters, tourism sector cut prices

Amid the dramatic slump of the lira, Turkish exporters have sold goods at lower prices, while the country’s imports, chief among them energy, have grown more expensive, official data show.

Carbon market

Egypt launches Africa’s first carbon credit market

Access to development financing solutions is being boosted through a new platform that will help the African private sector to lower its carbon emissions.

Israel housing

Israeli housing prices expected to continue to rise

Short supply of new units and high demand will outweigh increases in interest rates, most observers say.

Binance CEO Changpeng Zhao sits on the main stage at Abu Dhabi Finance Week (ADFW) in an interview with Mike Novogratz, the CEO of Galaxy Digital Holdings.

The Business & Tech Briefing: Binance CEO takes heat at Abu Dhabi event after FTX fall

In this weekly newsletter, Greg Cohen rounds up the biggest business and technology stories from the region.

AL-MONITOR Staff

By AL-MONITOR Staff