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Economy & Business

MUMEN KHATIB/AFP via Getty Images

Why UAE's decision to leave OPEC is major shift for cartel

The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil.

United Arab Emirates

Yuichi YAMAZAKI / AFP via Getty Images

First LNG tanker transits Strait of Hormuz since Iran war began

An Iranian grocer sells pistachios imported from Iran at a Persian products shop in the Gulf emirate of Dubai on July 10, 2019. (Photo by Karim SAHIB / AFP) (Photo credit should read KARIM SAHIB/AFP via Getty Images)

Pistachios reach highest prices in eight years amid Iran war

Pistachio prices rose to around $4.57 a pound in March, their highest since 2018, according to data company Expana.

A view of Dubai Marina in Dubai on March 3, 2026.

UAE’s cash request tests US ties as Iran war strains Gulf financial muscle

Amid growing economic fallout from the regional war, Abu Dhabi’s bombshell request for a war-time financial lifeline from the United States is less about cash and more about clout — for now.

United Arab Emirates

Latest News

IEA delivers grim gas supply forecast as oil notches 15% weekly rise

A liquefied natural gas (LNG) tanker is moored at a LNG berth in Kawasaki, Kanagawa, prefecture April 8, 2026.

Why did the Met Opera lose its Saudi funding deal?

A person walks past the closed Metropolitan Opera at Lincoln Center on Jan. 7, 2021, in New York City.

Which airlines are cutting flights amid Hormuz fuel disruption?

Refueling trucks are seen at Southend Airport on April 17, 2026, in Southend, England.

How are Iran-linked tankers still moving through Hormuz blockade?

BAY ISMOYO / AFP via Getty Images

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

Sustainable fuel

UAE’s Masdar signs sustainable aviation fuel deal with Boeing

Several Gulf entities are investing in the bio-based alternative jet fuel, though its development faces several challenges and is not ready for mass use.

The Pioneering Spirit vessel, which will carry out construction of the offshore section of the Turkish Stream natural gas pipeline, passes the Yavuz Sultan Selim Brigde on the Bosporus, Istanbul, Turkey, May 31, 2017.

Abu Dhabi’s ADQ in talks with Turkey to build railway for trade corridor

Amid increasing cooperation between the two countries, an alternative trade corridor is planned linking Europe, the Middle East and Asia.

Dubai marina

Middle East economic growth to fall sharply in 2023, World Bank says

The Middle East and North Africa’s gross domestic product is expected to plummet to 1.9% in 2023 from 6% in 2022.

Italian FM

Italy's FM in Saudi Arabia to talk energy partnerships, investments as ties grow

The far-right government of Italian Prime Minister Giorgia Meloni has worked to strengthen ties with Saudi Arabia and the United Arab Emirates.

GIL COHEN-MAGEN/AFP via Getty Images

Israeli shekel falls to 7-year low of 3.87 against the dollar

The shekel’s fall is the latest sign of economic uncertainty amid Israel’s political turmoil.

Saudi energy minister

Saudi Arabia, Russia to extend voluntary oil cuts to tighten supply

The announcement from the two most powerful members of the OPEC+ group came hours before ministers from the cartel of oil-producing nations were set to meet virtually on Wednesday.

A school boy walks near an election campaign bus for Egypt's President Abdel Fattah al-Sisi adorned with his image, his slogan "long live Egypt", and C-shaped balloons, as Sisi's supporters prepare for a rally in Giza, the twin-city of the Egyptian capital, on October 2, 2023. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Egypt's economy hit with downgrades as Sisi seeks third term

Egypt continues to reel from high inflation, a weak exchange rate and more. Rare protests occurred in the country following President Abdel Fattah al-Sisi’s reelection bid announcement.

The Tungsten Explorer, a drillship to explore for oil and gas off the coast of Lebanon.

Eni, Qatar Energy, TotalEnergies bid for Lebanon offshore gas exploration fields

The three energy companies, which are already operating in another block in Lebanese waters in the Eastern Mediterranean, submitted their tenders for offshore exploration in blocks 8 and 10.

Turkish train

UK, Turkey in talks about third railway project

The project follows the UK government underwriting financing in July to support the construction of a 286-kilometer high-speed electric railway in southern Turkey.

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

Turkey’s annual inflation exceeds 61% in September

Month-on-month consumer prices slightly eased to 4.75% in September, down from 9.09% in August.

Drone package delivery takes off in Jerusalem on September 13, 2023. (Photo by AHMAD GHARABLI / AFP) (Photo by AHMAD GHARABLI/AFP via Getty Images)

Israel's defense exports on the rise, drone customers up 40% since 2020

Israel’s defense exports have been boosted in part by the normalization of relations with several Arab states.

Turkey's President Recep Tayyip Erdogan stands next to his Togg T10X, Turkey's first domestically-produced electric car, after receiving it from the company at the Presidential Complex in Ankara, on April 3, 2023. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Targeting Tesla factories, Turkey and Saudi Arabia tempt Elon Musk with compelling offers

The Middle East could help fuel Tesla’s global expansion as countries race to become the next destination producing electric vehicles for the world’s most valuable automaker.

Samuel Wendel

In Washington, DC, reporting on regional business and tech