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Economy & Business

Crude oil tankers, bulk carriers and vessels sit anchored around Qaboos Port on June 22, 2026, in Muscat, Oman.

Oil falls below $71 as US-Iran talks continue, Gulf exports rebound

Qatar’s Foreign Ministry spokesperson said in an X post on Wednesday that Iran and the United States had made "positive progress."

People walk past a cryptocurrency exchange office with a screen featuring US President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025.

Trump earns $810M from UAE-backed crypto firm: What to know

According to the disclosure, Trump earned $810 million from crypto token sales and sales of interests in UAE-backed World Liberty Financial.

United Arab Emirates

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.

Latest News

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

AHMAD AL-RUBAYE / AFP via Getty Images

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

AFP via Getty Images

Interview

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

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

Olivier Badard

CEO of Armada Holding

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

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

KARIM SAHIB/AFP via Getty Images

OPEC remains committed to oil production agreement with Russia

The Biden administration has been unable to get Gulf states to increase oil production to bring down prices and some European states are seeking alternatives to Russian natural gas.

MOHAMMED MAHJOUB/AFP via Getty Images

Oman's fiscal outlook improves as oil prices surge

Efforts to put public finances on a healthy footing and tackle chronic budget deficits have started to pay off, facilitated by a sharp increase in oil prices, Oman’s main export.

Ayadi Tayyiba

First women-run dairy factory opens in Gaza's Rafah

Women who are the sole breadwinners of their families are working in the newly-opened women-only dairy factory in Rafah, in the south of the Gaza Strip.

Egyptian workers harvest wheat in Saqiyat al-Manqadi village in the northern Nile Delta province of Menoufia, Egypt, May 1, 2019.

War in Ukraine pushes Egypt to ramp up wheat production

The Egyptian government is working to increase local wheat production to reach self-sufficiency, after the Russian war on Ukraine added many challenges to secure the country's needs for food security.

MENAHEM KAHANA/AFP via Getty Images

Bank of Israel may raise interest rates soon

Media reports indicate that Israel’s central bank will soon raise rates to counter rising inflation.

A Saudi Arabian airlines Saudia plane is pictured on the tarmac of the Ataturk Airport on April 4, 2019, in Istanbul.

Saudi Arabia resumes visa on arrival for US, EU visa holders

The kingdom greatly relaxed its visa rules before the pandemic in an effort to boost tourism.

Saudi economy

Saudi Arabian export stats show mixed results in non-oil commerce

Saudi Arabia is working to diversify its economy, but figures from January show it remains dependent on foreign oil sales.

Egyptian men work in a bakery at a market in Cairo, Egypt, March 17, 2022.

Egypt seeks to contain price hikes caused by Ukraine crisis

Egypt is dealing with soaring prices of bread and food products.

AFP via Getty Images

How Russia demanding gas payment in rubles will affect the Middle East

Germany is considering buying gas from Qatar amid the war in Ukraine and the United States has been pushing the Gulf state to send more gas to Europe.

IEA ministerial meeting in Paris

Israel’s energy minister talks Ukraine, global energy crisis in Paris

Leading efforts for Israel to join the International Energy Agency, Energy Minister Karin Elharar is in Paris discussing ways to confront the challenges of the current global crisis.

Oil storage containers of the Eilat Ashkelon Pipeline Company (EAPC).

Israel, UAE to cooperate on clean hydroelectricity

Israeli companies are eager to cooperate with Emirati partners for the development of clean, cheap and low-energy hydrogen production.

Turkish President Recep Tayyip Erdogan walks alongside UAE's Minister of Tolerance and Coexistence Sheikh Nahyan bin Mubarak al-Nahyan (R).

Emirati and Turkish businesspeople discuss bilateral trade, investment

The meeting between the Abu Dhabi Chamber of Commerce and Turkey’s ULUSKON business federation occurred in the context of rapprochement between the United Arab Emirates and Turkey.