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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

Saudi UNESCO

Analysis

Saudi Arabia hosts first UNESCO session amid massive tourism drive

Recognition of more sites by the global heritage organization may help the kingdom reach its goals of more jobs and revenue from tourism.

By Salim A. Essaid

Turkey inflation

Can Turkey’s new economic plan restore foreign investor confidence?

Eager to regain Istanbul and other major cities from the opposition, Erdogan is expected to turn to populist policies again ahead of local elections next spring.

Britain's Prime Minister David Cameron, China's President Xi Jinping, Manchester City chairman Khaldoon Al Mubarak, head of the Elite Development Patrick Vieira and striker Sergio Kun Aguero during a visit to the City Football Academy on October 23, 2015 in Manchester, England. The President of the People's Republic of China, Xi Jinping and his wife, Madame Peng Liyuan, are paying a State Visit to the United Kingdom as guests of The Queen. They will stay at Buckingham Palace and undertake engagements in Lon

Mubadala opens office in Beijing as UAE-China ties grow

The United Arab Emirates' Mubadala Investment Company began operations in the Chinese capital this week.

The Telegraph newspaper

Qatari investors in talks with Daily Mail owner to buy rival newspaper group

The influential Telegraph Media Group, which will come up for auction in a few weeks, has strong links to the ruling Conservative government.

Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman.

Saudi Arabia’s Vision 2030 will benefit Islamic finance sector, says Moody’s

The kingdom has the largest Islamic banking market in the world, and roughly 83% of its total assets are Sharia-compliant.

This photograph taken on June 9, 2023, shows the Central Bank of Turkey, in Ankara.

World Bank official says Turkey's economic U-turn 'step in right direction’

The comments from the institution’s Turkey director follow the Turkish government finally raising interest rates to battle inflation. But the Turkish economy is still struggling.

One tanker transfers Iranian crude oil from another tanker off the shore of Karystos, Greece, for its transport to the United States at the request of the US judiciary, May 29, 2022.

Shipping company in Greece fined $2.4B for breaching Iran sanctions

In an agreement with the US, the illegal oil export was kept secret for almost five months amid fears of retaliation from Tehran.

Demonstrators lift flags during a protest against the Israeli government's judicial overhaul bill, in front of the stock exchange complex in Tel Aviv on July 18, 2023. The proposals have divided the nation and triggered one of the biggest protest movements in Israel's history since being unveiled in January by the hard-right government of Prime Minister Benjamin Netanyahu. (Photo by Menahem KAHANA / AFP) (Photo by MENAHEM KAHANA/AFP via Getty Images)

Israel's foreign investments drop 60% in first quarter of 2023

A report published by Israel's Finance Ministry suggests that foreign investments are decreasing, as are the number of Israeli startups sold to foreign companies.

People visit the stand of Spanish company Telefonica at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (Photo by Pau BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)

Spain investigates Saudi Arabia’s 9.9% acquisition of Telefonica

Saudi Arabia’s STC Group announced a 9.9% purchase in the $2.1 billion telecom company, but the Spanish government must approve the plan.

refugee camp

UN mulls green Islamic bonds to fund climate change refugee projects

The United Nations is reportedly interested in issuing Islamic bonds to help those displaced by climate change.

Russian President Vladimir Putin meets with UAE President Sheikh Mohamed bin Zayed al-Nahyan on the sidelines of the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 16, 2023. (Photo by Ilya PITALEV / SPUTNIK / AFP) (Photo by ILYA PITALEV/SPUTNIK/AFP via Getty Images)

Western diplomats visit UAE to discuss Russia ties, Ukraine sanctions

Western officials landed in the UAE on Monday, reportedly in a bid to keep computer chips, electronic parts and dual-use products away from Russia.

United Arab Emirates

Russian President Vladimir Putin (L) meets with Saudi Arabia's Crown Prince Mohammed bin Salman in Riyadh, Saudi Arabia, on October 14, 2019. (Photo by Alexey NIKOLSKY / SPUTNIK / AFP) (Photo by ALEXEY NIKOLSKY/SPUTNIK/AFP via Getty Images)

Oil prices surge as Saudi Arabia, Russia extend 1.3 million barrel cut through December

The production cuts by Saudi Arabia, Russia and the OPEC+ alliance have succeeded in keeping oil prices up but have also had some negative effects on the Saudi economy.