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

Business and Economy Cover Image

Economy & Business

Cars drive past the gates of King Khalid International Airport in Riyadh on Sept. 19, 2026.

Riyadh’s skies remain unsettled after deadly Houthi strikes

Saudi authorities confirmed Friday that Thursday’s first attack struck airport facilities and the second hit a Saudia aircraft.

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.

Latest News

Flights continue in Saudi Arabia despite Houthi attacks, airspace threats

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

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

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

Nestle to build first food factory in Saudi Arabia with $72M investment

The Swiss food and beverage firm is investing an initial 270 million riyals in the project, according to the Saudi Press Agency.

David Ramos/Getty Images

Trial opens in London for UAE-backed Manchester City: What we know

The English Premier League claims Man City breached rules requiring it to provide financial data that "gives a true and fair view of the club's financial position."

United Arab Emirates

United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan (R) hosted China’s Prime Minister Li Qiang in Abu Dhabi on Sept. 12, 2024.

China's premier in UAE after Saudi Arabia as Beijing deepens Gulf ties

Prime Minister Li Qiang’s visit to Abu Dhabi follows a similar trip to Saudi Arabia where he discussed Chinese-Gulf ties.

United Arab Emirates

Saudi Aramco signs downstream agreements with Chinese refiners

Saudi Aramco is leveraging its existing relationships with Chinese oil buyers by expanding into chemicals. The oil company also looks to invite Chinese investments to its projects in the kingdom.

The President of UAE Mohammed Bin Zayed Al Nahyan (L) walks with Indian Prime Minister Narendra Modi ahead of a meeting in New Delhi on January 25, 2017.

Analysis

India, UAE relations move from crude oil imports to nuclear cooperation

India, which sources 51% of its crude from the Middle East, is looking to strengthen strategic ties with the UAE. The South Asian country, which has significant nuclear energy capacity, signed its first nuclear cooperation agreement with Abu Dhabi on Monday.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Cars drive along a street in front of high-rise buildings in Dubai, on February 18, 2023. - Home to towering skyscrapers and ultra-luxury villas, Dubai saw record real estate transactions in 2022, largely due to an influx of wealthy investors, especially from Russia. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

UAE aims to attract family offices to boost stature as wealth hub

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Cairo money

Egypt urban inflation rises to 26.2% in August, first jump in five months

The unexpected increase in inflation comes as Egypt deals with the economic effects of the Red Sea attacks and a new cabinet in office.

Abu Dhabi's Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan (L) listens to India's Prime Minister Narendra Modi before their meeting at the Hyderabad House in New Delhi on September 9, 2024.

India’s Modi hosts UAE crown prince, inks 5 energy, nuclear agreements

The agreements were signed during Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s visit to New Delhi.

United Arab Emirates

China's Vice Premier Ding Xuexiang (C) delivers his speech.

At Africa summit, China elevates ties with Libya, invests $14M in Egypt

The Sino-Libyan pact was announced Wednesday by Chinese President Xi Jinping and President of the Libyan Presidency Council Mohamed al-Menfi at the FOCAC summit in Beijing.

A bank teller counts money as a customer looks on at a bank in Libya's western coastal city of Misrata on Aug. 25, 2024.

Libya factions agree to appoint new central bank chief to end crisis: UN

The House of Representatives, based in the eastern city of Benghazi, and the High State Council in Tripoli in the west signed a joint statement after two days of talks hosted by the UN Support Mission in Libya.

Police officers stand guard outside Libya's Central Bank headquarters in Tripoli on Aug. 27, 2024.

Interview

From Turkey, exiled Libyan Central Bank governor decries 'coup d'etat'

Governor Sadiq al-Kabir spoke exclusively to Al-Monitor after he and other senior officials at the Libyan Central Bank fled to Istanbul at the end of last month, as militias linked to Libya's internationally recognized government threatened them.

Sadiq al-Kabir

Sadiq al-Kabir

Governor of the Central Bank of Libya

Saudi Hawks

China, Russia, UAE make strong showing at Egypt International Airshow

China sent military aircraft to fly over the pyramids ahead of the event, which followed a joint naval exercise between Egypt and the People’s Republic.