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Economy & Business

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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

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

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

China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions.

Iranians drive past an anti-US billboard at Enghelab Square in central Tehran, Aug. 3, 2026.

Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94

In a Truth Social post, the president threatened that any country that provides a financial lifeline to Iran will face "tremendous economic consequences."

Latest News

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

AHMAD AL-RUBAYE / AFP via Getty Images

Turkey looks to expand Syria energy footprint into oil, gas

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Leon Neal/Getty Images

United Arab Emirates

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

Israeli gas fields

Israel announces new natural gas field off its coast

The official announcement on the discovery of the Katlan-Orca natural gas field off Israel's coast paves the way for hydrocarbon exploration company Energian to seek development and exploitation permits.

Erdogan MBZ

Turkey, UAE ratify $40 billion trade deal after Erdogan's victory

Abu Dhabi’s ratification of the partnership agreement came three days after President Recep Tayyip Erdogan’s election victory.

Qatar Airways plane 2

Qatar Airways first in Mideast to sign Shell deal for 3K tons of sustainable fuel

The airline said that the deal will allow it to reduce emissions on flights from Amsterdam by approximately 7,500 tons of CO2 for the fiscal year.

UAE financial

Explainer: Understanding UAE’s first-ever corporate tax

Taxes are increasing across the Gulf, and the UAE is seeking to boost tax compliance as well as cut down on money laundering.

People walk through an alley of a traditional souk in the old Medina of Marrakesh on Dec. 30, 2014.

Morocco’s textile industry rebounds, as demand spikes from Northern Europe

The head of Morocco's textile association said there is growing demand from Northern European buyers for locally made knitwear and corporate apparel.

A Chinese vendor displays notes during a cash transaction in Beijing 14 January 2007. The yuan was pegged to the US dollar until 2005 when Beijing decided to revalue it by 2.1 percent and place the unit in a currency basket, allowing a greater but still very tightly controlled margin of flexibility, but the yuan has since slowly but steadily risen in value on the back of China's booming economy and the breaching of the 7.80 level. AFP PHOTO (Photo credit should read STR/AFP via Getty Images)

China’s push for trade in yuan has downsides for Gulf states

Paying for the import of Gulf fossil fuels in yuan is at the top of China’s list to lay the foundations for a greater global adoption of its currency.

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Men drink chai in the street the day after President Recep Tayyip Erdoğan was re-elected on May 29, 2023 in Istanbul,Turkey. Erdogan won another five-year term after being forced into a runoff with the opposition politician Kemal Kilicdaroglu. Erdogan prevailed despite criticism of his management of the country's economy and the government's response to the devastating earthquakes earlier this year. (Photo by Jeff J Mitchell/Getty Images)

Turkish lira slips to new low as Erdogan forms economic team

Turkey's currency has dropped again in the wake of President Recep Tayyip Erdogan’s reelection.

People carrying flags of Pakistan take part in a rally to show solidarity with Pakistan's army in Islamabad on May 17, 2023, after military installations were allegedly damaged by supporters of former Pakistan's prime minister Imran Khan following his arrest last week.

Instability in Pakistan increases risks for UAE, Saudi Arabia

Beach with parasols and blooming bougainvillea near Sharm el-Sheikh,Red Sea,Egypt.

Egypt’s tourism sector continues to lure private investors despite economic difficulties

Opportunities in the sector are set to increase following the government’s renewed bid to double the number of annual visitors from pre-pandemic levels and nearly triple annual tourism revenues to $30 billion by 2028, up from $12.2 billion in 2022.

Marc Español

Saudi Crown Prince Mohammed bin Salman (4th R) attends a meeting with Chinese President Xi Jinping (3rd L) at the Great Hall of the People in Beijing on February 22, 2019. (Photo by HOW HWEE YOUNG / POOL / AFP) (Photo credit should read HOW HWEE YOUNG/AFP via Getty Images)

From roads to routers: The future of China-Middle East connectivity

Latest Trend Report: China is deepening its engagement in the Middle East, and the region, by and large, is welcoming it.

Qatar Economic Forum

Qatar forum warns of economic downturn, shift in cryptocurrency

One Qatar Economic Forum participant says it will take at least a generation to reach a point where the world can depend on clean power.

Turkey elections

Turkey Elections: Fears of internet restrictions mount with over a dozen under Erdogan

With a critical presidential election runoff on Sunday, Turks are on high alert for potential censorship and internet shutdowns.