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

Business and Economy Cover Image

Economy & Business

Omar Albaw / Middle East Images / AFP via Getty Images

Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know

The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.

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

Latest News

Analysis

Why the Hormuz oil shock never became an energy catastrophe

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

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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

Egypt wheat

Egypt looks further afield for wheat

Egypt recently bought 240,000 tons of wheat from Russia directly, as the government continues to work on plans to avert a food crisis and preserve local supplies.

Saudi chemical

Saudi-India economic ties grow closer with mining agreement

Saudi Arabia is seeking to boost its mining sector, and India is a natural partner in this endeavor.

Egypt investment

Egypt attracting more investment from Arab states

Saudi Arabia and the UAE have invested heavily in Egypt recently, and Qatar may soon follow.

The EU Commissioner for Energy Kadri Simson (L) looks on.

Israel to invest more in Egyptian renewable energy projects

Israel plans to invest more in the field of power generation with renewable energy in Egypt, after two Israeli companies announced a major plan to carry out several projects to this effect.

Saudi Arabia's army soldiers march during the Pakistan Day parade in Islamabad on March 23, 2022.

Saudi Arabia to invest $1 billion in Pakistan, following UAE and Qatar

Pakistan is seeking help from the Gulf amid its foreign currency reserves crisis.

Korea Hydro and Nuclear Power Co. via Getty Images

South Korea to work with Russia on Egypt’s first nuclear power plant

The move further cements Egypt and South Korea’s strong economic and defense ties.

This picture taken on Nov. 17, 2019, shows the Hong Kong-flagged container ship CSCL STAR sailing through Egypt's Suez Canal.

Egypt-Chinese consortium to run terminals in Red Sea, Mediterranean ports

The Egyptian government signed new concessions with a Chinese alliance to build and operate two world-class container terminals in the ports of Sokhna and Dekhila, as part of a container logistics project to link the Red and Mediterranean seas.

A photo taken on March 14, 2022, shows the logos of Visa, Mastercard and Russian Mir payment systems on bank cards in Moscow.

Iran, Russia use own currencies for trade

Saudi Arabia and India have also signaled moving away from the US dollar.

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal city of Caesarea on January 25, 2022. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)

Middle East is building a big lead in global hydrocarbon investments

Gerald Kepes

In Washington, DC, reporting on regional energy trends

Egypt economy

UAE more than doubles investment in Egypt

Egypt is seeking to sell state companies, which has attracted Gulf investors.

A picture taken on Nov. 18, 2020, shows an electronic billboard bearing portraits.

Saudi Central Bank approves fintech companies Lean Technologies, Mod5r

Saudi Arabia recently launched a fintech strategy with the goal of becoming a regional hub for financial technology.

A view of construction work ongoing at the business and finance district of the New Administrative Capital megaproject, some 45 kilometers east of Cairo, Egypt, Aug. 3, 2021.

Egypt’s foreign reserves drop 19% due to economic crisis caused by Russia-Ukraine war

Egypt’s public budget is facing a major deficit due to the increase in expenditures and national currency depreciation.