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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

This photograph shows rolls of copper wires stored at the Nexans manufacture in Lens, northern France, on May 11, 2022. - The French cable company is the only one in its sector to have its own copper foundry in Lens. This plant represents a competitive advantage for Nexans at the dawn of an explosion in demand for electrical cables. (Photo by DENIS CHARLET / AFP) (Photo by DENIS CHARLET/AFP via Getty Images)

Saudi Arabia to ramp up copper mining to meet rising global demand

Copper demand is expected to explode as governments and companies worldwide try to meet ambitious net zero targets. Saudi Arabia is positioned well to take advantage.

Afshin Molavi

Burj Khalifa

UAE offers corporate tax orientation as implementation nears

The Gulf state decided last year to start taxing business profits and the new tax will go into effect this June.

This picture taken December 12, 2019 shows a view of the board at the Stock Exchange Market (Tadawul) bourse in Riyadh. - Energy giant Saudi Aramco's market value soared above $2 trillion as its share price surged again on its second day of trading. The valuation milestone was sought by Saudi Crown Prince Mohammed bin Salman when he first floated the idea of selling up to five percent of Aramco, the world's largest oil firm, about four years ago. Aramco shares jumped another 9.7 percent to 38.60 riyals ($10

From Oil to IPOs: how the Middle East is delivering a wave of mega-listings

2022 was a year to forget for IPOs across global markets, but not in the Middle East. Check out our latest PRO Trend Report to take a deep dive into how the region found success.

People walk past a currency exchange shop displaying a giant US dollars banknote in downtown Cairo on Nov. 3, 2016.

Egyptian banks announce measure to encourage savings

Inflation is still occurring in Egypt and the pound is plummeting in value again.

This picture taken on May 9, 2021 shows a view of the Dubai city skyline as seen from the Burj Khalifa, currently the world's tallest building at 828 meter.

Dubai unveils $8 trillion economic plan

Dubai's plan includes measures to boost its foreign trade, sustainability and position as a tech hub.

Algeria's Energy Minister Mohamed Arkab attends the opening session of the 24th ministerial meeting of the Gas Exporting Countries Forum (GECF), in the Capital Cairo on October 25, 2022. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

Algeria, Sonatrach banking on high energy prices for 2023

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

This picture taken on Aug. 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.

Israel raises rates again as central bank expects inflation

Housing prices are also on the rise in Israel, and interest rates are now at their highest levels since 2008.

A man counts Turkish liras at a currency exchange office, Istanbul, Turkey, July 29, 2020.

Turkey's inflation slows most in December in a boost to Erdogan

Facing crucial elections in spring, the Turkish government is trying to take credit for curbing inflation, even though the steep decline in the annual rate owes mostly to a favorable base effect.

Norway wealth fund

Norway’s sovereign wealth fund considers ending all investments in Israel

Recent investigations by Norway’s Sovereign Wealth Fund into the activities of Israeli banks and companies in the West Bank could lead it to completely severing all investments in Israel.

Oman's Minister of Energy and Minerals Salim Al Aufi arrives for the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting in Vienna, Austria, on Oct. 5, 2022.

Interview

Oman banking on hydrogen, renewables in diversified energy strategy

In an exclusive interview with Al-Monitor, Oman’s energy and minerals minister is charting a course for affordable, sustainable energy and welcomes international investors.

Salim Al Aufi

Salim Al Aufi

Oman Minister of Energy and Minerals

An aerial view shows the Central Business District (Ruwi) in the Omani capital Muscat on April 9, 2021. (Photo by Haitham AL-SHUKAIRI / AFP) (Photo by HAITHAM AL-SHUKAIRI/AFP via Getty Images)

Oman to backpedal on key reforms in favor of social stability

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Iran market

Iran central bank governor resigns amid currency crisis

The Islamic Repubic named a new governor for its central bank and arrested currency brokers, as the rial nosedived to the lowest rates ever recorded.