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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

murabba

Saudi Arabia's New Murabba project to lure global investors, but at what cost?

Ambitious project announcements are becoming an increasingly common feature of Saudi Arabia’s developmental aspirations.

Robert Mogielnicki

Robert Mogielnicki

People walk beneath advertisement billboards at Boulevard entertainment city in the Saudi capital Riyadh, late on January 19, 2022. (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia mulls tax relief for global companies relocating regional HQs

On the sidelines of the International Conference on Justice that began on Sunday in Riyadh, Saudi Arabia granted three foreign law firms licenses to practice in the country.

United Arab Emirates Minister of Industry and Advanced Technology Sultan Ahmed al-Jaber speaks during CERAWeek by S&P Global in Houston, Texas on March 6, 2023. (Photo by MARK FELIX/AFP via Getty Images)

UAE's Sultan Al Jaber, COP28 head, calls for 7% emissions cut, swifter energy transition

The Emirates’ Industry and Advanced Technology Minister Sultan Ahmed Al Jaber talked about the importance of carbon capture and hydrogen at the CERAWeek conference.

Tesla CEO Elon Musk leaves the Phillip Burton Federal Building on January 24, 2023 in San Francisco, California. Musk testified at a trial regarding a lawsuit that has investors suing Tesla and Musk over his August 2018 tweets saying he was taking Tesla private with funding that he had secured. The tweet was found to be false and cost shareholders billions of dollars when Tesla's stock price began to fluctuate wildly allegedly based on the tweet. (Photo by Justin Sullivan/Getty Images)

Turkey fines Elon Musk over Twitter purchase

The decision follows the implementation of a controversial social media law in Turkey that prompted Twitter to open an office in the country.

Turkey's President Recep Tayyip Erdogan (L) reviews the honour guard as he welcomes Crown Prince of Saudi Arabia Mohammed bin Salman (R) during an official ceremony at the Presidential Complex in Ankara, on June 22, 2022. (Photo by ADEM ALTAN/AFP via Getty Images)

Saudi Arabia to deposit $5 billion in Turkey after earthquake

Turkey is experiencing a shortage of foreign currency amid its economic crisis and is looking to the Gulf for help.

People walk past the Egyptian Central Bank in downtown Cairo on November 3, 2016. - Egypt floated the country's pound as part of a raft of reforms, after a dollar crunch and exorbitant black market trade threatened to grind some imports to a halt. (Photo by KHALED DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Return of hot money foreshadows even more debt for Egypt

Egypt has witnessed a large inflow of short-term debt in recent weeks. Al-Monitor Pro explains why the government hasn't been able to wean itself off of "hot money" and the economic impact.

Marc Español

GIUSEPPE CACACE/AFP via Getty Images

Oil recovers after UAE says no plans to leave OPEC

The price of Brent crude oil fell after a report on tension in the oil cartel between the United Arab Emirates and Saudi Arabia.

JACK GUEZ/AFP via Getty Images

Analysis

Israel's credit rating holds, but could face downgrade over judicial reform

Fitch recently affirmed Israel’s “A+” rating, but the agency and others have warned about heightened risk in the country related to the government’s controversial judicial reform plans.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

Turkish President Recep Tayyip Erdogan (R) and Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan pose as they attend a signing ceremony regarding the agreements between the two countries at the Presidential Complex in Ankara, on November 24, 2021. (Photo by ADEM ALTAN/AFP via Getty Images)

Turkey, UAE ink free trade deal in latest thaw

The deal marks a new height in improving ties between Ankara and Abu Dhabi after years of locking horns.

DANIEL LEAL/AFP via Getty Images

Turnips to the rescue? UK tomato shortages could last weeks as Morocco curbs exports

After Morocco restricted certain exports, several large British supermarkets have started rationing produce.

ADEM ALTAN/AFP via Getty Images

Turkey’s inflation eases slightly as monthly prices soar

Despite the decline in the annual inflation, Turkey’s monthly consumer prices continue to rise.

Egyptian Foreign Minister Sameh Shokry (R) and his Russian counterpart Sergei Lavrov shake hands during a joint press conference in the capital Cairo, on July 24, 2022. - Russia's top diplomat will address the Arab League at its Cairo headquarters, the organisation said, days after Russia took part in a summit hosted by Iran, a regional rival of some Arab states. (Photo by KHALED DESOUKI/AFP via Getty Images)

Egypt, Russia find opportunity in crisis

Analysts say boosting trade between Russia and Egypt in the ruble and the pound is a win for both countries amid Western sanctions on Moscow and the dollar crunch in Egypt.