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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

Egypt wheat

Egypt bans export of key staples to cushion blow of Ukraine war

To contain the repercussions of Russia’s invasion of Ukraine, Egypt banned for three months the export of wheat, flour, rice, pasta, oils and beans.

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

Russia, Ukraine trade barbs over obstruction of wheat shipments to Egypt

As Egypt’s strategic wheat reserves continue to decline, Russia and Ukraine exchanged accusations over obstructing the movement of a ship loaded with wheat and bound for Egyptian ports.

A picture taken on Sept. 29, 2021, shows Russian tourists in the Egyptian Red Sea resort of Sharm el-Sheikh.

Egypt hopes Israeli tourists will make up losses from Ukraine war

At a time when Egypt’s tourism sector has suffered a setback due to the war in Ukraine, the first direct flight from Israel is set to land in Sharm el-Sheikh this month, which may boost the number of Israeli tourists in the Egyptian coastal resorts in the Sinai Peninsula.

Egyptians smile for a photo as they buy fruits from a street vendor at a market in the Menufiya province north of Cairo on Feb. 22, 2018.

Gulf states give Egypt $22 billion to mitigate fallout from Ukraine war

Cairo has secured $22 billion from the United Arab Emirates, Qatar and Saudi Arabia to cover Egypt's current account deficit.

AHMAD HASSAN/AFP via Getty Images

Kuwait, Egypt explore railway to Sudan

The Kuwait Fund for Arab Economic Development has also started projects in Iraq and Yemen.

A farmer ploughs a wheat field in the countryside of the northeastern city of Qamishli, on Sept. 18, 2021.

Syria’s bread basket lies empty

Deir ez-Zor province in eastern Syria is facing a water and bread crisis that is likely to become even worse during the month of Ramadan.

Syrians buy food supplies ahead of the Muslim month of Ramadan, at a shopping street in the northwestern rebel-held city of Idlib, on April 1, 2022.

Price hikes make life harder in Idlib

Prices have increased dramatically ahead of Ramadan in opposition-held areas of Syria, where residents accuse Hayat Tahrir al-Sham of failing to help.

An Egyptian man arranges fruits at a shop in a market in Cairo, on March 17, 2022. Soaring bread prices sparked by Russia's invasion of Ukraine have bitten into the purchasing power of consumers in Egypt, a leading importer of wheat from the former Soviet states.

Middle East reels from historically high food prices

World food prices in March reached their highest levels ever, according to the United Nations.

Israeli Foreign Minister Yair Lapid (L) welcomes the United Arab Emirates' Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan upon his arrival for the Negev summit, at Sde Boker in the southern Negev desert, Israel, March 27, 2022.

Free trade agreement opens new horizons for Israel, UAE

The economy and trade ministers of Israel and the United Arab Emirates concluded last week negotiations on a ground-breaking agreement for a free trade zone, the first of its kind Israel has ever reached with an Arab country.

A member of an Israeli tech delegation uses his phone in a video call during an evening meeting with Emirati counterparts at a hotel in Dubai, United Arab Emirates, Oct. 25, 2020.

Israel's tech future lies with Arab entrepreneurs

An increasing number of Israeli Arabs are taking the bold step of launching their own startup companies.

Workers stand outside the Dubai International Financial Center in the Gulf emirate on Nov. 29, 2009.

Dubai regulator announces increased protection for whistleblowers

The UAE is working to increase its financial transparency after being linked to sanctions evasion and the flow of dark money.

United Arab Emirates

Israel cannabis

Cannabis sales grow in Israel

The Lod-based company Panaxia reported increased revenues from the Israeli market for its sales of medical cannabis in 2021.