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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

An Emirates Airlines plane lands at Dubai International Airport in Dubai on October 17, 2023. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Emirates airline reports record $4.7B profit as Gulf competition heats up

The Dubai-based airline has posted strong performance figures in recent months.

United Arab Emirates

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)

Dubai’s real estate boom keeps rolling, emboldening investors despite risks

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Lebanon's Prime Minister Najib Mikati welcomes European Commission President Ursula von der Leyen at the Grand Serail government headquarters in Beirut on May 2, 2024. During the visit, EU chief Ursula von der Leyen announced $1 billion in aid for Lebanon as the east Mediterranean country struggles with an economic meltdown exacerbated by a migrant crisis and the threat of war with Israel. (Photo by JOSEPH EID / AFP) (Photo by JOSEPH EID/AFP via Getty Images)

Analysis

Fears mount EU's $1.1B migration aid to Lebanon will feed political corruption

Officials and experts who spoke to Al-Monitor highlighted the Lebanese government's history of misusing international aid meant to help the economy and address the country's migration crisis.

In Bristol, reporting on regional business, climate change, AI, tech

Turkey ExxonMobil

Turkey’s BOTAS signs $1.1B long-term LNG deal with ExxonMobil

Turkey and ExxonMobil have signed a major liquified natural gas deal as Ankara looks to diversify its energy sources.

Elbit Systems

Israel's Elbit clinches $53M deal to sell mortar systems to Europe

Between 2019 and 2023, Israeli weapons constituted 2.4% of the global market, massively reshaped by Russia's invasion of Ukraine and increased imports by European countries.

A picture taken on January 23, 2022, shows the skyline of the Emirate of Dubai with Burj Al Arab (C) and Burj Khalifa (background-L). (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Dubai crowned wealthiest city in Middle East, home to 72,500 millionaires

The number of individuals in Dubai with liquid investment wealth — assets that can be readily converted to cash — of $1 million or more increased by 78% between 2013 and 2023 to 72,500, according to a report.

United Arab Emirates

Supporters of Islami Jamiat-e-Talaba (IJT), a student wing of Pakistan's Jamaat-e-Islami (JI) party stage a pro-Palestinian protest outside a Kentucky Fried Chicken (KFC) restaurant calling for boycott of Israeli products on the outskirts of Islamabad on May 7, 2024, amid the ongoing war between Israel and the militant Hamas group in the Gaza Strip. (Photo by Farooq NAEEM / AFP) (Photo by FAROOQ NAEEM/AFP via Getty Images)

KFC, Pizza Hut profit in Middle East cut by half amid Gaza war boycotts

Americana Restaurants said the decline was due to the “ongoing geopolitical tensions” in the Middle East and the effect of the Ramadan period.

This photograph taken on January 12, 2024, shows an oil refinery in the desert between Shubaytah and Shubaytah, of the Dakar rally 2024, in Saudi Arabia, on January 12, 2024. (Photo by PATRICK HERTZOG / AFP) (Photo by PATRICK HERTZOG/AFP via Getty Images)

What's behind Saudi Arabia's increase in crude oil prices for Asian market?

The kingdom wants to restrain oil production to keep demand up, but the increase in prices to Asian customers is more related to refining values, says one expert.

An aerial view shows the Central Business District (Ruwi) in the Omani capital Muscat on April 9, 2021. (Photo by Haitham AL-SHUKAIRI / AFP) (Photo by HAITHAM AL-SHUKAIRI/AFP via Getty Images)

Sovereign fund-led economy: Oman takes a page from Saudi Arabia

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

People salvage belongings after heavy flooding due to record rains in Dubai, April 19, 2024.

UAE’s non-oil revenues hit by April floods, but quick recovery expected

The seasonally adjusted S&P Global UAE Purchasing Managers’ Index fell to 55.3 points in April, still indicating growth, but had been at 56.9 the previous month.

United Arab Emirates

People walk at Kadikoy district in Istanbul on March 5, 2024. Turkey's annual inflation rose again in February, reaching 67.1 percent despite a string of interest rate hikes, official data showed on Monday. The Turkish central bank held its key interest rate at 45 percent last month, pausing after eight straight increases aimed at taming consumer prices that had remained stable at 64.9 percent in January.

Turkey’s annual inflation surges to almost 70% in April

April's inflation rate marks Turkey’s highest in the past 16 months, driven primarily by price increases in education, restaurants and hotels, and transportation.

A woman writes "complicit" and "boycott" on a Starbucks window.

Starbucks, McDonald's, KFC continue to feel effects of Gaza war boycotts

Starbucks on Tuesday lowered its expectations for full-year sales and profits after a disastrous quarter that saw a marked drop-off in customer traffic.