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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

adnoc

Landmark $18.7B Santos-ADNOC takeover delayed: What to know

Santos said in a statement that the due diligence period, initially set for six weeks, has been extended until Aug. 22.

United Arab Emirates

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nahsholim, on Aug. 29, 2022.

$35B gas deal underscores Egypt’s energy reliance on Israel despite Gaza tensions

Israel and Egypt have finalized a $35 billion gas deal that will double Israeli gas exports by 2029, highlighting Cairo’s growing energy dependence on its neighbor, even as political tensions rise over Gaza.

GAVRIIL GRIGOROV/AFP via Getty Images

UAE looks to boost Russia trade to $23B despite Trump tariff threats

The two countries signed a trade agreement focusing on several key sectors, including fintech, health care, logistics, transportation and services.

United Arab Emirates

People wait for the arrival of relatives at King Khalid International Airport in the Saudi capital of Riyadh on the first commercial flight from Qatar on Jan. 11, 2021.

Saudi Arabia’s King Khalid airport sets record with 3.9M passengers in July

Air travel is a part of the Vision 2030 plan to diversify the economy, though challenges remain in attracting tourists and catching up to other Gulf airports.

A ship loaded with oil docks at a pier with the help of a tugboat at the port of Qingdao, in eastern China's Shandong province on June 12, 2025.

China's oil imports fall 5.4% as Iranian flows recede from June highs

US President Donald Trump has intensified pressure on Iran’s economy, clamping down on its oil sector, a critical component of the state budget.

In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin (R) meets with UAE President Sheikh Mohamed bin Zayed bin Sultan al-Nahyan (L) at the Novo-Ogaryovo state residence outside Moscow on October 20, 2024. (Photo by Artem Geodakyan / POOL / AFP) (Photo by ARTEM GEODAKYAN/POOL/AFP via Getty Images)

UAE president heads to Russia to meet Putin as ties grow: What to know

UAE President Sheikh Mohammed bin Zayed al-Nahyan is heading to Moscow on Thursday for an official visit, his second in less than a year as Russian-Emirati relations continue to develop rapidly.

United Arab Emirates

Jens Schlueter/Getty Images

Chinese company to build Oman's first green hydrogen plant: What to know

The plant in Duqm plans to produce 1 million metric tons of green hydrogen per year by 2030.

An Iranian taxi driver cools down by splashing water on his face on a street amid soaring temperatures in Tehran on July 22, 2025.

Iran to close public offices as temperatures pass 105 F: What to know

Iranian officials are seeking to reduce public energy consumption as water levels decrease throughout the country and power cuts persist.

FAYEZ NURELDINE/AFP via Getty Images

Aramco's Q2 profits fall 22% as lower oil prices weigh on earnings

Saudi Arabian crude exports have been soaring, hitting a three-month high last month, though oil prices remain low.

A picture shows the headquarters of UAE's state oil company ADNOC in Dubai on July 27, 2022.

UAE’s ADNOC inks 10-year gas deal with India: What to know

The UAE is seeking to export more gas to India as domestic consumption is projected to rise in the South Asian country.

United Arab Emirates

This picture shows old Iranian banknotes of 1 million, 500,000,and 100,000 rials (L), and the new banknotes with four zeros removed (R), on Aug. 3, 2025.

Iran mulls nixing zeros from currency as value plunges: What to know

Iran has experienced massive inflation in recent years and is now contending with an energy crisis as well.

People shop at a local street market in Istanbul, Turkey, May 3, 2023.

Turkey’s inflation falls to four-year low of 33.5%: What to know

Treasury and Finance Minister Mehmet Simsek said on X that annual inflation had fallen to its lowest level in 44 months.