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

Business and Economy Cover Image

Economy & Business

UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi (L) and Lebanese Economy Minister Amr al-Bisat after signing a memorandum of understanding, Beirut, Aug. 27, 2026.

Lebanon, UAE ink deals, deepen economic ties on Emirati Beirut visit

An Emirati business delegation signed the agreements in Beirut and met with President Joseph Aoun, indicating the UAE's interest in deepening economic ties with Lebanon.

cards

Sharaa taps Visa as Syria reconnects to global finance: What to know

Visa and Mastercard announced Wednesday that their networks can now be used to make international card payments in Syria.

gas station in Cairo, Egypt

Eni presses ahead with Egypt gas projects as war raises investment risks

Egyptian President Abdel Fattah el-Sisi met with Eni CEO Claudio Descalzi on Tuesday, with the Italian energy giant revealing it could make a crucial investment decision in coming months.

Latest News

Syrian Airlines expands Europe comeback with Vienna, Copenhagen flights

A Syrian Air passenger jet lands at Aleppo airport on March 18, 2025, the first aircraft to land after it was shut during the offensive that toppled former President Bashar al-Assad.

China warns US not to interfere with Iran trade: What to know

BAY ISMOYO / AFP via Getty Images

Large UAE delegation set to arrive in Lebanon in major investment push

Lebanese Presidency

France, Saudi Arabia announce more than $10B in deals on MBS visit

France's President Emmanuel Macron and Saudi Arabia's Crown Prince Mohammed bin Salman shake hands

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

Egyptian men work in a bakery at a market in Cairo, Egypt, March 17, 2022.

Egypt seeks to contain price hikes caused by Ukraine crisis

Egypt is dealing with soaring prices of bread and food products.

AFP via Getty Images

How Russia demanding gas payment in rubles will affect the Middle East

Germany is considering buying gas from Qatar amid the war in Ukraine and the United States has been pushing the Gulf state to send more gas to Europe.

IEA ministerial meeting in Paris

Israel’s energy minister talks Ukraine, global energy crisis in Paris

Leading efforts for Israel to join the International Energy Agency, Energy Minister Karin Elharar is in Paris discussing ways to confront the challenges of the current global crisis.

Oil storage containers of the Eilat Ashkelon Pipeline Company (EAPC).

Israel, UAE to cooperate on clean hydroelectricity

Israeli companies are eager to cooperate with Emirati partners for the development of clean, cheap and low-energy hydrogen production.

Turkish President Recep Tayyip Erdogan walks alongside UAE's Minister of Tolerance and Coexistence Sheikh Nahyan bin Mubarak al-Nahyan (R).

Emirati and Turkish businesspeople discuss bilateral trade, investment

The meeting between the Abu Dhabi Chamber of Commerce and Turkey’s ULUSKON business federation occurred in the context of rapprochement between the United Arab Emirates and Turkey.

Egyptian men work in a bakery at a market in Cairo, on March 17, 2022.

Egypt institutes price controls for bread

Bread prices in Egypt have increased considerably since the Russian invasion of Ukraine. Egypt receives the majority of its wheat from the two Eastern European countries.

A visual representation of the digital cryptocurrency bitcoin, at the Bitcoin Change shop.

Lebanese turn to cryptocurrency as economy tanks

Lebanon is bursting with crypto mining shops, traders and online mentors to fulfill the surging demand from people desperately looking to gain financial freedom and much-needed US dollars.

Prepared sunbeds sit empty at a luxury hotel on March 9, 2022, in Antalya, Turkey.

Turkish tourism sector scrambles to minimize fallout of Ukraine war

Bracing for a big loss of Russian and Ukrainian holidaymakers this summer, Turkey’s tourism industry is looking for replacements in Europe and the Middle East. But few are hopeful that the gap can be closed.

KHALED DESOUKI/AFP via Getty Images

Egypt raises interest rates for first time since 2017

Inflation and bread prices have risen significantly in Egypt recently, and Saudi Arabia and Qatar have also raised their rates.

LUDOVIC MARIN/AFP via Getty Images

Analysis

'Hot money' singes Egypt’s economy

Although capital outflows are no surprise, devaluation looks imminent to mitigate pressure on the pound.

Ahmed Elleithy

By Ahmed Elleithy

UAE Africa

UAE continues to grow influence in Africa with Zimbabwe trade

The Emirates has expanded its presence on the African continent in recent years via infrastructure investments, military bases and more.

United Arab Emirates

Nureddin Nebati

Turkish minister’s pledge to foreign investors causes uproar at home

As foreign investments decline, Nureddin Nebati's promise to "take the bureaucracy down" raises concerns at home and abroad about evading the rule of law.