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

Business and Economy Cover Image

Economy & Business

Lebanese Presidency

Large UAE delegation set to arrive in Lebanon in major investment push

A large Emirati delegation of around 70 business leaders and government officials is heading to Beirut, in the latest sign of thaw between the United Arab Emirates and Lebanon.

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

Latest News

China slams Trump over economic war on Iran: What to know

Foreign Ministry Spokesperson Lin Jian holds a press conference on Aug. 19, 2026.

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

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

A bird flies past a boat sailing along Dubai creek in the Gulf emirate on May 2, 2021 while the Burj Khalifa skyscraper is seen in the background. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

20% rise in Middle East late-stage venture capital funding despite global decline

Startups in the Middle East and North Africa have so far in 2023 reported a 20% year-on-year growth, new data shows, while global funding activity of this type has seen a 49% decline from 2022.

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.