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Economy & Business

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

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

Among the deals included a 6 billion euro ($7 billion) pledge from the Public Investment Fund in three manga-themed amusement parks on the outskirts of Paris.

Leon Neal/Getty Images

Oil falls 1.8% as traders await 'toughest' sanctions on Iran

Traders are awaiting details about new US measures sure to further disrupt Iranian oil flows.

Khor Fakkan Container Terminal

Analysis

UAE-Iran trade relationship becomes key test of Trump’s wartime strategy

The Gulf state suspended trade with Iran after new attacks in August. Experts point to risks for both sides as the Trump administration seeks to squeeze Tehran economically.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Foreign Ministry Spokesperson Lin Jian holds a press conference on Aug. 19, 2026.

China slams Trump over economic war on Iran: What to know

China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions.

Latest News

Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94

Iranians drive past an anti-US billboard at Enghelab Square in central Tehran, Aug. 3, 2026.

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

AHMAD AL-RUBAYE / AFP via Getty Images

Turkey looks to expand Syria energy footprint into oil, gas

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

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

Foreign laborers work on the construction of new luxury houses in the Saudi capital, Riyadh, on April 13, 2019.

Saudi crown prince vows to ground soaring property prices: What to know

Crown Prince Mohammed bin Salman vowed to implement policies aimed at reducing real estate costs and providing a wider range of housing options.

Guests attend a policy dialogue on Embracing Emerging Opportunities in times of Economic Uncertainty during the 10th Belt and Road Summit in Hong Kong, China, Sept. 10, 2025.

Hong Kong inks agreements with Gulf partners at BRI Summit

Some 36 business agreements covering finance, technology, logistics, professional services and education were set to be signed at the event.

A worker fits solar panels onto frames during construction at South Africa's first municipally owned solar plant, during International World Environment Day, on June 5, 2025, in Atlantis near Cape Town.

Saudi firm to pump $700M into economic zone developer in Africa

The kingdom's Vision Invest will invest in pan-African developer Arise Integrated Industrial Platforms, which will use the funds to expand across the continent and develop green industrial ecosystems.

JUSTIN TALLIS/AFP via Getty Images

UK's Revolut enters Middle East fintech market with UAE licenses

The Central Bank of the UAE has granted Revolut in-principle approval for stored value facilities and retail payment services licenses.

United Arab Emirates

Chinese President Xi jinping attends a photo session for participants of the Shanghai Cooperation Organization summit 2025 on Sept. 1, 2025, in Tianjin, China.

China calls on BRICS to boost multilateral trade as Iran, UAE eye closer ties

The UAE’s and Egypt’s trade with BRICS members is on the rise, while Iran’s efforts to increase economic ties are complicated by sanctions.

Cyprus' President Nikos Christodoulides speaks during a press conference after the MED9 Summit in the Cypriot city of Paphos, on Oct. 11, 2024.

Cyprus courts UAE amid Greek pressure on subsea cable: What to know

The project has been beset with delays due to longstanding disagreements between NATO members Greece and Turkey over territory in the Eastern Mediterranean.

United Arab Emirates

Indian Prime Minister Narendra Modi (R) and Israeli Prime Minister Benjamin Netanyahu talk during the India-Israel Business Summit in New Delhi on January 15, 2018. Benjamin Netanyahu hailed a "new era" in ties with India on January 15 as he signed a series of deals during the first visit by an Israeli Prime Minister in 15 years. Netanyahu made the comment after talks with Narendra Modi, who made history in July when he became the first Indian leader ever to visit Israel.

India, Israel ink new investment deal: What to know

The deal comes just a week after the Shanghai Cooperation Organization summit in Tianjin, China, where India signed a declaration condemning Israeli actions in Gaza and Iran.

KHALED DESOUKI/AFP via Getty Images

Saudi Arabia, UAE firms sign $18.5B tourism megaproject for Egypt

The new deal forms part of Egypt’s Vision 2030 agenda as the government aims to secure $42 billion in foreign direct investment this year.

Stacks of Iranian rials and US dollars sit counted on a table in an unofficial currency exchange shop, Tehran, Iran, Aug. 6, 2025.

Analysis

Old sanctions, new risks: Iran’s economy hampered by war fallout, China reliance

Europe’s move to revive UN sanctions against Iran comes amid growing economic strain for a country already buckling under war damage, domestic crises and a plunging currency.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

WANG ZHAO/AFP via Getty Images

Qataris hail Chinese robotaxis as Gulf embraces driverless cars

Three Chinese companies have publicly announced plans to roll out the autonomous vehicles in the Gulf.

Italian designer Giorgio Armani acknowledges the audience during One Night Only series in Dubai on October 26, 2021.

From Milan to Dubai: Giorgio Armani's sprawling Middle East legacy

The Italian designer's eponymous brand has luxury real estate in the Gulf, as well as North Africa.

United Arab Emirates