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Economy & Business

AHMAD AL-RUBAYE / AFP via Getty Images

Here's what to know about Iraq's corruption as Zaidi launches crackdown

Watchdogs and financial institutions regard Iraq as a significantly corrupt country as the new prime minister works to recover public funds.

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades.

Olivier Badard

CEO of Armada Holding

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

Analysis

Why the Hormuz oil shock never became an energy catastrophe

The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Latest News

Explainer

Gulf states push incentives for investors, expats after war dents image

FADEL SENNA/AFP via Getty Images

United Arab Emirates

Explainer

After UAE and Qatar, could Iraq be next to leave OPEC?

A worker at a market for fuel oil and automotive fuel on March 17, 2026, in Erbil, Iraq.

Explainer

Syria’s energy push could soon get a major boost from Chevron: What to know

Amjad Kurdo / Middle East Images / 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

A picture taken on September 9, 2022, shows people walking along a street in the Saudi capital Riyadh. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia sees 'steep decline' in demand for large houses

The kingdom's growing younger population is seeking to move out of their family homes earlier to seek jobs elsewhere in the country.

This photograph taken on March 24, 2023 in Geneva, shows a sign of Credit Suisse bank. - The marriage of UBS and Credit Suisse was hastily arranged to prevent a global financial meltdown -- but the size of the resulting megabank could cause domestic problems in Switzerland, the central bank admitted on March 23, 2023. (Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)

Credit Suisse calamity could see Gulf investors shift priorities, avoid banking deals

Credit Suisse’s March meltdown continues to reverberate across the Gulf. Here's how it could impact regional investments going forward.

Samuel Wendel

In Washington, DC, reporting on regional business and tech

In this illustration photo taken on July 18, 2022, Elon Musk's reply tweet to Parag Agrawal, CEO of Twitter.

Saudi firms face 6.7% higher Twitter verification fees than US

Syria, Sudan, Iran, the West Bank and Gaza Strip are not on the price list and appear to be unable to purchase this subscription.

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.

Picture of crude oil storage tanks at the plant of Colombian petroleum company Ecopetrol in Acacias, Meta Department, south of Bogota on February 10, 2023. (Photo by Juan BARRETO / AFP) (Photo by JUAN BARRETO/AFP via Getty Images)

Oil prices rise by 5% after OPEC's surprise output cut decision

Brent Crude had its sharpest price increase in almost a year on Monday after reports that major oil producers will slash their output.

OPEC ministers

OPEC+ likely to maintain output in light of Kurdish oil dispute

Analysts say the OPEC+ alliance is unlikely to cut production and there could be be a oil glut in the second half of 2023.

A man looks at the exchange board at the Stock Exchange Market (Tadawul) bourse in Riyadh displaying Aramco shares on the second day of their trading on December 12, 2019.

Saudi's Aramco could list in Hong Kong as China relations warm

Aramco's latest deals in the Chinese market are fueling speculation that the Saudi giant could be set to list one of its subsidiary companies on the Hong Kong Stock Exchange (HKSE).

Israel technology

Report: Israel tech sector still among world’s strongest

Judicial fallout and layoffs have not hurt the industry's world standing, according to a report from Dealroom.co and Tel Aviv Tech.

A vendor sells traditional sweets at a market in the southern city of Sidon (Saida) on March 23, 2023 as Muslim devotees shop during the holy fasting month of Ramadan. (Photo by Mahmoud ZAYYAT / AFP) (Photo by MAHMOUD ZAYYAT/AFP via Getty Images)

Grueling Ramadan for Lebanon's Muslims as prices, dollarization bite

As all goods are priced in dollars this year, food prices have skyrocketed, making the holy month more burdensome for the Lebanese whose wages are limited while the value of the local currency continues to deteriorate.

An Egyptian girl takes part in wheat harvest in Bamha village near al-Ayyat town in Giza province, some 60Km south of the capital on May 17, 2022. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Egypt’s new grain security strategy put to test as Ukraine war enters second year

Egypt's new strategy to cope with major grain supply disruptions from the Ukraine war has worked well in its first year. But there are still challenges ahead.

Marc Español

A woman reacts as retired servicemen protest to demand inflation-adjustments to their pensions outside Lebanon's central bank headquarters in Beirut on March 30, 2023. (Photo by JOSEPH EID / AFP) (Photo by JOSEPH EID/AFP via Getty Images)

Lebanon on cusp of network blackout as dispute grows with telecom workers

The Lebanese government has threatened to take over the country’s state-run telecom company with the help of the army as workers continue to strike for a salary increase.

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.