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Economy & Business

Saudi Arabia football supporters wave flags

China-Saudi consortium wins $306M World Cup stadium deal: What to know

The project is a vote of confidence to Saudi Arabia's ambitious Vision 2030 agenda to diversify the economy away from oil, despite an uptick in attacks by Yemen's Houthi rebels on the kingdom in recent weeks.

The Chinese-flagged container shipping vessel Hui Fa transits the Gulf of Oman off the coast of Khor Fakkan in the emirate of Sharjah east of the UAE, on Oct. 13, 2026.

Gulf oil exports surpass prewar levels despite escalating tanker attacks

According to data from Kpler, oil shipments through the Strait of Hormuz and alternative routes across the Middle East averaged more than 24 million barrels a day last week, surpassing prewar levels of 23.3 million.

In Bristol, reporting on regional business, climate change, AI, tech

Benoit Tessier / AFP via Getty Images

Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest

France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption.

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Explainer

Indonesia first foreign country to own property in Saudi Arabia's Mecca

Vehicles move along a main street in Saudi Arabia's holy city of Mecca on Sept. 16, 2026.

Saudi Arabia postpones 'Davos in the Desert' until 2027 amid Houthi attacks

FAYEZ NURELDINE/AFP via Getty Images

Analysis

As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege?

shoppers walking through the Tajrish Bazaar, a traditional market in Tehran

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

How much oil can cushion another Middle East supply shock?

A vessel transits the Gulf of Oman

In Bristol, reporting on regional business, climate change, AI, tech

Samuel Wendel

Senior Analyst, Middle East Business & Tech

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

Platform Edith, the largest of Chevron's USA's offshore production platforms, is seen off the southern California coast, on Oct. 6, 2021.

Syria to develop first offshore oil, gas field with US’s Chevron, Qatar’s UCC

In 2013, Russian firm Soyuzneftegaz signed a deal to explore for oil and gas in Syrian waters, but the project was dropped two years later due to the civil war.

KHALED DESOUKI/AFP via Getty Images

Iran warning near Hormuz collides with Red Sea shipping comeback

Armed boats attempted to intercept a vessel near the Strait of Hormuz on Tuesday, the same day that major container lines also announced the resumption of limited transits through the Suez Canal.

YASSER AL-ZAYYAT / AFP via Getty Images

Kuwait to open offshore oil, gas fields to foreign firms: What to know

The Gulf country and OPEC member has made significant oil and gas discoveries since 2023.

US President Donald Trump shakes hands with Indian Prime Minister Narendra Modi during a joint press conference in the East Room of the White House in Washington, on Feb. 13, 2025.

How US-India trade deal could impact Mideast energy, trade routes

The United States and India struck a trade agreement on Monday that eases months of tension between the two countries and could influence Gulf oil flows and economic integration.

A woman checks a window shop at a jewelry store in Dubai, on March 10, 2025.

Gulf markets recover after gold rout, buoyed by Iran de-escalation hopes

Saudi Arabia’s benchmark stock index, TASI, rose 1.4%, a day after falling the most in nearly 10 months amid a broad sell-off in the commodities market.

United Arab Emirates

A general view of Saudi Aramco's Abqaiq oil processing plant on Sept. 20, 2019.

US-Iran tensions fan oil disruption fears as Gulf states confront retaliation risks

From blocking the Strait of Hormuz and seizing commercial shipping to striking energy infrastructure, Tehran’s retaliation playbook could rattle the region as Gulf states fear red lines have been crossed.

This picture shows a view of the Abu Dhabi skyline on May 14, 2025. (Photo by FADEL SENNA / AFP) (Photo by FADEL SENNA/AFP via Getty Images)

Abu Dhabi merges ADQ into new wealth fund L'IMAD: What to know

Under the new structure, Sheikh Khaled bin Mohammed, the crown prince of Abu Dhabi, will oversee a broader swath of the emirate’s investment holdings.

United Arab Emirates

Art of digital currency.

UAE Central Bank approves first US dollar-backed stablecoin: What to know

The approval marks a milestone in the UAE’s development of digital currency infrastructure and positions USDU as the Gulf country’s first USD-denominated currency for digital assets.

United Arab Emirates

Old chemical barrels.

Oil climbs above $70 a barrel, hitting five-month high on Iran tensions

At 9:30 a.m. ET, Brent crude futures reached $70.44, the highest level since Aug. 1, 2025.

Aerial view of Riyadh at night with illuminated modern skyscrapers and busy streets under a clear dark sky, Al Olaya street.

Analysis

Saudi Arabia downsizes megaprojects, chases cash amid AI push

After years of breakneck spending, Crown Prince Mohammed bin Salman’s flagship plan to diversify the oil-dependent economy — dubbed Vision 2030 — is facing a fresh round of delays and recalibration as softer oil prices squeeze public finances and force tougher choices.

Samuel Wendel

By Samuel Wendel , Jack Dutton

A salesman arranges gold jewelry at Dubai Gold Souk, on Nov. 25, 2020, in Dubai, United Arab Emirates.

Gold hits $5,300 as UAE market adjusts to record prices

Dubai is one of the world's major gold hubs, and higher bullion prices impact jewelry-buying habits.

United Arab Emirates

This aerial view taken from a Hellenic Air Force aircraft carrying medical aid supplies to Lebanon shows the skyline and port of Beirut during the landing approach towards Beirut International Airport on October 25, 2024. Israel expanded operations in Lebanon nearly a year after Hezbollah began exchanging fire in support of its ally, Hamas, following the Palestinian group's deadly attack on Israel on October 7, 2023. (Photo by ORESTIS PANAGIOTOU / POOL / AFP) (Photo by ORESTIS PANAGIOTOU/POOL/AFP via Getty

UAE firm’s $1.7B legal threat spotlights Gulf split on Lebanon as Qatar invests

Lebanon’s bid to lure Gulf investment into its crisis-stricken economy is facing turbulence as Dubai's Al Habtoor Group threatens legal action over more than $1.7 billion in losses, while Qatar is making an investment push.