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Economy & Business

Fuel prices are displayed at a petrol station in Rabat

Explainer

Russian diesel heads to Morocco as supply crunch grips global markets

Gulf countries and Russia together accounted for almost 45% of global seaborne diesel and gasoil trade before the Iran war.

An attendee walks past signage displayed inside the venue for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 14, 2026. (Photo by ANTHONY WALLACE / AFP via Getty Images)

Syria to rejoin Arab group at IMF, leaving Russian-led constituency

Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD.

Russia's Ekaterina Alexandrova returns the ball to Kazakhstan's Elena Rybakina during their WTA Finals tennis tournament in Riyadh on November 5, 2025. (Photo by Fayez NURELDINE / AFP via Getty Images)

Explainer

From Six Kings Slam to FIFAe finals, Saudi Arabia's events derailed by war

Some of Saudi Arabia’s flagship events — across sectors including culture, entertainment and sports — have been canceled or postponed following deadly Houthi attacks over the weekend.

Flames burn at a facility belonging to Saudi oil giant Aramco south of Riyadh

Explainer

Aramco HQ attack exposes Saudi defense gaps, infrastructure vulnerabilities

The Iran-linked Yemeni militants struck at the heart of Saudi Arabia’s oil industry this week amid an expanding campaign against key infrastructure.

Latest News

Who is Abdulrahman Alfozan, Saudi national charged in bugging OpenAI meetings?

Abdulrahman Alfozan in an undated photo

Explainer

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

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) /

Jeddah airport flights disrupted as Houthis escalate threats

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)

Analysis

How Manchester City fallout tests Gulf’s global investment model

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

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and 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

Yuan banknotes and US dollars are seen on a table in Yichang, Hubei province, China, Aug. 14, 2015.

Egypt to issue bonds in China’s currency yuan

The US dollar may be losing its dominance in the Middle East to the yuan.

Egypt wheat

Egypt looks further afield for wheat

Egypt recently bought 240,000 tons of wheat from Russia directly, as the government continues to work on plans to avert a food crisis and preserve local supplies.

Saudi chemical

Saudi-India economic ties grow closer with mining agreement

Saudi Arabia is seeking to boost its mining sector, and India is a natural partner in this endeavor.

Egypt investment

Egypt attracting more investment from Arab states

Saudi Arabia and the UAE have invested heavily in Egypt recently, and Qatar may soon follow.

The EU Commissioner for Energy Kadri Simson (L) looks on.

Israel to invest more in Egyptian renewable energy projects

Israel plans to invest more in the field of power generation with renewable energy in Egypt, after two Israeli companies announced a major plan to carry out several projects to this effect.

Saudi Arabia's army soldiers march during the Pakistan Day parade in Islamabad on March 23, 2022.

Saudi Arabia to invest $1 billion in Pakistan, following UAE and Qatar

Pakistan is seeking help from the Gulf amid its foreign currency reserves crisis.

Korea Hydro and Nuclear Power Co. via Getty Images

South Korea to work with Russia on Egypt’s first nuclear power plant

The move further cements Egypt and South Korea’s strong economic and defense ties.

This picture taken on Nov. 17, 2019, shows the Hong Kong-flagged container ship CSCL STAR sailing through Egypt's Suez Canal.

Egypt-Chinese consortium to run terminals in Red Sea, Mediterranean ports

The Egyptian government signed new concessions with a Chinese alliance to build and operate two world-class container terminals in the ports of Sokhna and Dekhila, as part of a container logistics project to link the Red and Mediterranean seas.

A photo taken on March 14, 2022, shows the logos of Visa, Mastercard and Russian Mir payment systems on bank cards in Moscow.

Iran, Russia use own currencies for trade

Saudi Arabia and India have also signaled moving away from the US dollar.

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal city of Caesarea on January 25, 2022. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)

Middle East is building a big lead in global hydrocarbon investments

Gerald Kepes

In Washington, DC, reporting on regional energy trends

Egypt economy

UAE more than doubles investment in Egypt

Egypt is seeking to sell state companies, which has attracted Gulf investors.

A picture taken on Nov. 18, 2020, shows an electronic billboard bearing portraits.

Saudi Central Bank approves fintech companies Lean Technologies, Mod5r

Saudi Arabia recently launched a fintech strategy with the goal of becoming a regional hub for financial technology.