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Economy & Business

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Brent crude sails past $100 as Middle East war intensifies

The Iran war escalated this week as Yemen’s Iran-backed Houthi rebels attacked four southern Saudi Arabian cities and oil facilities.

The former chief of Iran's Islamic Revolutionary Guard Corps, Mohsen Rezaei, takes part in a demonstration against American "crimes" following the killing of IRGC Maj. Gen. Qasem Soleimani in a US strike on his convoy at Baghdad international airport, Tehran, Iran, Jan. 3, 2020.

Iran to announce new Gulf restricted zone, Hormuz route: What we know

Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said the restricted zone would begin at the point where the US blockade of Iranian ports starts and extend into the Gulf.

The entrance to the city of Qiddiya, south of the capital Riyadh, April 25, 2019.

Analysis

Iran war tests Gulf's theme park ambitions

Saudi Arabia is pressing ahead with multibillion-dollar projects as the conflict disrupts regional tourism and exposes weaknesses in the Gulf states' entertainment strategies.

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

Latest News

Analysis

Could Trump’s oil push in Venezuela upend OPEC’s energy order?

A man walks past a mural depicting oil pumps and the Venezuelan flag, with portraits of Venezuelan independence leader Simon Bolivar (L) and former late President Hugo Chavez (R), in Caracas, Venezuela, on Sept. 3, 2026.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Syria destroys 42 bombs in chemical stockpile purge: What to know

Ali Haj Suleiman/Getty Images

Starlink expands Middle East footprint with UAE launch: What to know

GIUSEPPE CACACE/AFP via Getty Images

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

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 commercial vessel passes through an international shipping lane off Yemen's Hanish Island in the Red Sea on July 27, 2026.

Saudi oil exports hit nine-year low as tanker attacks threaten recovery

The country’s oil exports were around 3 million barrels per day in August.

Atta KENARE / AFP via Getty Images

Oil surges over 4% after US strikes Iranian mainland

The strikes were Washington’s first on mainland Iran in just over a month and followed Iranian attacks on ships in the Strait of Hormuz.

Ongoing construction work is pictured at a site in Marota City, a new mixed-use development project near the Umayyad Square in Damascus on July 22, 2026. Syria's new leaders, who inherited a dilapidated economy, are trying to attract capital without waiting for the full lifting of international sanctions. (Photo by LOUAI BESHARA / AFP via Getty Images)

UAE investment fuels Syria's postwar economic recovery with $7B property deal

The deal would see UAE-based Arada develop a major real estate project in Damascus.

JOSEPH EID/AFP via Getty Images

Analysis

UAE gauges new Lebanon deals amid Levant economic stabilization push

Beirut welcomed a high-level business delegation from the UAE in late August as Abu Dhabi pursues new regional economic engagement amid Iran's waning influence.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Misr

US Treasury targets Egyptian bank's UAE branches over Iran dealings

The Treasury Department said Banque Misr's UAE branches had processed over $1 billion for Iranian shadow banking networks.

Elizabeth Hagedorn

By Elizabeth Hagedorn

In Washington, DC, reporting on diplomacy, regional politics, human rights

Ali Saeedi/Getty Images

Oil prices fall after Iran steps up truce efforts, US says Hormuz mines cleared

Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said in an interview on Thursday that Iran was preparing a list of conditions for reopening the Strait of Hormuz.

UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi (L) and Lebanese Economy Minister Amr al-Bisat after signing a memorandum of understanding, Beirut, Aug. 27, 2026.

Lebanon, UAE ink deals, deepen economic ties on Emirati Beirut visit

An Emirati business delegation signed the agreements in Beirut and met with President Joseph Aoun, indicating the UAE's interest in deepening economic ties with Lebanon.

cards

Sharaa taps Visa as Syria reconnects to global finance: What to know

Visa and Mastercard announced Wednesday that their networks can now be used to make international card payments in Syria.

gas station in Cairo, Egypt

Eni presses ahead with Egypt gas projects as war raises investment risks

Egyptian President Abdel Fattah el-Sisi met with Eni CEO Claudio Descalzi on Tuesday, with the Italian energy giant revealing it could make a crucial investment decision in coming months.

A Syrian Air passenger jet lands at Aleppo airport on March 18, 2025, the first aircraft to land after it was shut during the offensive that toppled former President Bashar al-Assad.

Syrian Airlines expands Europe comeback with Vienna, Copenhagen flights

Syrian Airlines currently flies to 14 destinations across eight countries, with four additional routes planned.

BAY ISMOYO / AFP via Getty Images

China warns US not to interfere with Iran trade: What to know

China's Foreign Ministry said Beijing was firmly opposed to what it called “illegal unilateral sanctions” and would take “all necessary measures” to safeguard its rights.