Banking and Finance

Haruna Furuhashi /Getty Images

Could UAE tap US currency swap line as Iran war strains Gulf economies?

The Gulf country apparently wanted reassurances from Washington in case its economy is severely damaged by the Iran war.

United Arab Emirates

ANGELA WEISS/AFP via Getty Images

Why are Wall Street banks posting record profits amid Iran war?

The US-Israel-Iran war has roiled the global economy since Feb. 28, but the resulting market volatility has boosted trading profits for some.

People gather under a large portrait of Iran's new Supreme Leader, Mojtaba Khamenei, during a memorial to mark the 40th day since his father, Ali Ayatollah Khamenei, was killed in US-Israeli joint strikes, on April 9, 2026, in Tehran, Iran.

Analysis

Ceasefire without relief: How Iranians are grappling with post-war repression

Despite the ceasefire, pressure is mounting inside Iran: arrests are rising, the internet remains largely shut down, and millions face deep economic uncertainty.

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics

People sit in a cafe outside the Apple Store in Dubai on May 8, 2025.

Iran names US tech, finance firms in new Middle East threat list

Firms listed as potential targets included Oracle, Microsoft, Apple, Google, Meta, IBM, Palantir and Nvidia, while banking giant JPMorgan and UAE-based AI firm G42 were also listed.

Latest News

UAE steps in to support banks as war pressure builds: What to know

AFP via Getty Images

United Arab Emirates

Analysis

Iran war tests Gulf dealmaking as foreign investors assess risks

The city skyline is pictued in Dubai on March 11, 2026. The oil-rich Gulf has borne the brunt of Iran's attacks in response to US-Israeli strikes that sparked the Middle East war, with Tehran targeting US assets but also civilian infrastructure. (Photo by Giuseppe CACACE / AFP via Getty Images)

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

How long can markets hold their bet on Gulf resilience as war drags on?

The city skyline is pictured in Dubai on March 11, 2026.

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

Group of 32 states to release 400M barrels of oil reserves: What to know

Sakis Mitrolidis / AFP via Getty Images

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

This picture taken on March 23, 2023 shows a view of Dubai's landmark Burj Khalifa skyscraper, the world's tallest building, on the first day of the Muslim holy fasting month of Ramadan. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Saudi, UAE banks rank highest valued in Middle East: Forbes

Gulf Cooperation Council (GCC) countries took 41 places, or 82%, of the list of the 50 highest-valued banks in the Middle East and North Africa.

In this picture taken on March 22, 2023, a woman speaks with a merchant as she shops for dates at the traditional Rod el-Farag market in northern Cairo during the Muslim holy fasting month of Ramadan. - Muslims follow the tradition set by the prophet Mohammed whom believers say used to break his fast by eating dates and drinking goat's milk during the holy month. The dawn-to-dusk fast is conceived as a spiritual struggle against the seduction of earthly pleasures, but the evening iftar festive meals traditi

Egypt's rate hike viewed with skepticism as inflation persists

Economists question the logic behind Egypt's new interest rate hike, especially after previous raises failed to bring the inflation rate down.

February 9, 2023, an EgyptAir aircraft flies on its landing approach past the 19th century Mosque of Mohamed Ali in the Cairo Citadel. (Photo by Amir MAKAR / AFP) (Photo by AMIR MAKAR/AFP via Getty Images)

Egypt’s privatization plans stall despite growing buzz

Only a fraction of the targeted sales to Gulf investors have materialized over the last year, largely due to a general lack of agreement and volatility of the Egyptian economy

Chinese President Xi Jinping (R) invites Saudi Arabia's King Salman bin Abdul-Aziz Al Saud (L) to view an honor guard during a welcoming ceremony inside the Great Hall of the People, Beijing, China, March 16, 2017.

China’s CICC plans UAE, Saudi expansion as Xi builds Middle East ties

CICC has about five to six people in its Middle East offices serving the entire region with a mix of Chinese and regional staff.

Workers work on the construction site of the Golden Gate towers at Bahrain Bay in Manama on March 25, 2023. - With a multi-billion dollar economic revamp in full swing, tiny Bahrain is vying to keep pace with its Gulf neighbours after more than a decade beset by political unrest. (Photo by Mazen Mahdi / AFP) (Photo by MAZEN MAHDI/AFP via Getty Images)

Bahrain launches 'Golden License' to attract major investment, jobs

Only companies with major investment and project portfolios will be eligible for the license, with either a $50 million value or a plan to create 500 jobs in the country, according to the Bahrain Economic Development Board.

This picture taken on August 23, 2022 shows a view of the exterior of the headquarters of the Bank of Israel, the country's central bank, in Kiryat Ben-Gurion in Jerusalem. (Photo by AHMAD GHARABLI / AFP) (Photo by AHMAD GHARABLI/AFP via Getty Images)

Bank of Israel raises interest rate again, warns about judicial fallout

The OECD is predicting GDP growth rate to slow in Israel this year, while the Bank of Israel has worked out different scenarios based on fallout from the judicial reform controversy.

Russian President Vladimir Putin meets with United Arab Emirates President Sheikh Mohamed bin Zayed Al-Nahyan in Saint Petersburg on October 11, 2022. (Photo by Pavel Bednyakov / SPUTNIK / AFP) (Photo by PAVEL BEDNYAKOV/SPUTNIK/AFP via Getty Images)

UAE Central Bank revokes license of Russia's MTS Bank as sanctions tighten

The Central Bank of the UAE plans to close the Russian bank’s operations within six months from the date of the decision.

KARIM SAHIB/AFP via Getty Images

UAE, Qatar lead Middle East in 2023 global foreign investment ranking

The United Arab Emirates sat in the top position among MENA markets and ranked 4th globally.

A general view of the Dubai skyline on November 30, 2020 in Dubai, United Arab Emirates.

UAE’s ‘Second Salary’ savings plan offers its expat majority passive income

The savings plan is the first step in establishing a long-term retirement plan structure by the savings and investment company, amid low rates of retirement savings in the region.

Saudi National Bank chairman resigns after Credit Suisse loss

Current CEO Saeed Mohammed Al Ghamdi will take over as the new chairman on March 27, with deputy CEO Talal Ahmed Al Khereiji filling his place.

A stock market ticker displays financial information and world time zones in the lobby of the Tel Aviv Stock Exchange.

Israeli shekel, stocks rally as Netanyahu pauses judicial reform

The right-wing Israeli government’s controversial judicial reform plans have divided Israeli society and led to concerns among the Israeli tech sector and global financial institutions.

A man walks past a sign of the Reserve Bank of India (RBI) in Mumbai on August 5, 2022. - India's central bank on August 5 hiked interest rates for the third time in four months, as Asia's third-largest economy contends with a widening trade deficit and weakening currency. (Photo by Indranil MUKHERJEE / AFP) (Photo by INDRANIL MUKHERJEE/AFP via Getty Images)

UAE, India to boost cooperation via digital currency

The Emirati Central Bank has begun implementing its digital dirham strategy following a financial cooperation agreement with India and the UAE's cryptocurrency push.