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

Business and Economy Cover Image

Economy & Business

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

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.

Latest News

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

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.

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 pedlar sells roasted corn cobs by the medieval Sultan al-Ghuri Complex (built in 1505) in the Azhar district of Egypt's capital Cairo on January 16, 2023. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Inflation hits 33.9% in Egypt as food prices surge

Egypt’s Central Bank continues to raise interest rates amid surging inflation, but past rate hikes have failed to alleviate the situation.

Kamil Alawadhi, IATA’s Regional Vice-President for Africa and Middle East.

Gulf's economic transformation will drive air traffic, IATA says

Kamil Al-Awadhi, the association's Middle East chief, said countries in the region have spurred air traffic by hosting global business, political and sporting events.

Saudi mining

Saudi Arabia will mine minerals, but can it extract maximum added value?

The kingdom wants to leverage its untapped mineral deposits to boost non-oil exports and incentivize local manufacturers to turn raw materials into high-value products.

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.

Yorkshire County Cricket Club

Analysis

Yorkshire cricket club is latest UK team to seek Middle East investment

Experts see a growing trend in Middle Eastern investors wanting to get involved in British sports, as countries in the region diversify their economies.

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

GIUSEPPE CACACE/AFP via Getty Images

New UAE-Canada flight agreement boosts Emirates capacity by 40%

Emirates said it will add two flights per week between Dubai and Toronto to serve its large number of travelers starting April 20.

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

Locals and tourists ride in speed boats at the Wadi Darbat (Darbat Valley) near Salalah, in the southern Omani province of Dhofar on July 21, 2022. (Photo by Mohammed MAHJOUB / AFP) (Photo by MOHAMMED MAHJOUB/AFP via Getty Images)

Oman bets on tourism to protect itself against global shocks

In order to diversify its economy away from oil and gas, Oman is going all-in on its tourism industry.

Tamara Juburi

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.

An engineer sets up new beehives, part of the high-tech Beehome project, in Israel's Kibbutz Bet Haemek in the northern Galilee, on May 14, 2022. - They function as normal hives, but apiaries built at a kibbutz in Israel's Galilee are decked out with high-tech artificial intelligence systems set to ensure longevity for these vital pollinators. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)

Growing demand for AI to spare Israel from prolonged tech downturn

The medium-term prospects for Israel's AI sector look uniquely strong.

David Rosenberg

David Rosenberg

In Tel Aviv, reporting on business and tech

Patrick Pouyanne, CEO, TotalEnergies

TotalEnergies confirms $10 billion investment in Iraq oil fields, solar plant

The long-delayed deal is expected to bolster the regional electricity grid in the south of the country.

TotalEnergies CEO

Iraq to take 30% stake in $27 billion TotalEnergies project

Progress had stalled on multi-million-dollar deal amid disagreements with Iraqi lawmakers over terms.