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Economy & Business

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

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

Hundreds of flights to and from the Saudi capital were canceled or delayed on Thursday, with passengers being urged to check with airlines before heading to the airport.

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)

Iraq devalues dinar 13% as Hormuz disruption hits oil revenue

The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320.

U.S. Secretary of State Marco Rubio speaks at the Pnyx hill, where ancient Athenians held democratic assemblies, with the ancient Parthenon temple atop the Acropolis seen in the background, in Athens on October 7, 2026. (Photo by Mark Schiefelbein / POOL / AFP via Getty Images)

Explainer

Rubio says Iran ‘lost’ Hormuz. Has it?

US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September.

Travelers consult the departures screens at the terminal at King Khalid International Airport in Riyadh, on March 10, 2026.

Flights continue in Saudi Arabia despite Houthi attacks, airspace threats

Overnight attacks on King Abdullah bin Abdulaziz International Airport in Jazan and Najran International Airport damaged facilities and wounded three people.

Latest News

UAE-Syria move ahead on $20 billion real estate mega-developments

A view of a traffic roundabout in central Latakia, Syria on June 12, 2025. The city's road network converges near the coast, forming one of the busiest urban intersections in the province. (Photo by Omar Albaw / Middle East Images via AFP) (Photo by OMAR ALBAW/Middle East Images/AFP via Getty Images)

Mideast oil exports surpass prewar levels despite pipeline, ship attacks

Vessels transit the Hormuz Strait off the coast of Iran's southern port city of Bandar Abbas on Sept. 7, 2026.

In Bristol, reporting on regional business, climate change, AI, tech

Analysis

Gulf oil exports are back, but how durable is recovery?

nyse

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

Turkey’s $20B fund crisis: Who profited, and who will pay?

Traders work at their desks on the floor of the Borsa Istanbul

In Bristol, reporting on regional business, climate change, AI, tech

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

Crops of wheat and barley in Terbol village on May 10, 2022, in Bekaa Valley, Lebanon.

Analysis

MENA wheat importers face food security risks as Hormuz crisis festers

Home to many of the world's largest wheat importers, the Middle East and North Africa face acute food security risks as the US-Israel-Iran war disrupts global fertilizer flows and pushes up prices.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

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

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

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

A wave of new LNG supplies will be delayed for at least two years due to war-related damage to Qatari energy infrastructure, according the International Energy Agency's latest market update.

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

Why did the Met Opera lose its Saudi funding deal?

The deal, announced as a nonbinding memorandum of understanding last September, would have seen the PIF inject up to $200 million into the opera institution over the next eight years.

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

Which airlines are cutting flights amid Hormuz fuel disruption?

European and Asian airlines have been most impacted by the closure of the Strait of Hormuz, which is throttling jet fuel supplies.