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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

JUSTIN TALLIS/AFP via Getty Images

UK's Revolut enters Middle East fintech market with UAE licenses

The Central Bank of the UAE has granted Revolut in-principle approval for stored value facilities and retail payment services licenses.

United Arab Emirates

Chinese President Xi jinping attends a photo session for participants of the Shanghai Cooperation Organization summit 2025 on Sept. 1, 2025, in Tianjin, China.

China calls on BRICS to boost multilateral trade as Iran, UAE eye closer ties

The UAE’s and Egypt’s trade with BRICS members is on the rise, while Iran’s efforts to increase economic ties are complicated by sanctions.

Cyprus' President Nikos Christodoulides speaks during a press conference after the MED9 Summit in the Cypriot city of Paphos, on Oct. 11, 2024.

Cyprus courts UAE amid Greek pressure on subsea cable: What to know

The project has been beset with delays due to longstanding disagreements between NATO members Greece and Turkey over territory in the Eastern Mediterranean.

United Arab Emirates

Indian Prime Minister Narendra Modi (R) and Israeli Prime Minister Benjamin Netanyahu talk during the India-Israel Business Summit in New Delhi on January 15, 2018. Benjamin Netanyahu hailed a "new era" in ties with India on January 15 as he signed a series of deals during the first visit by an Israeli Prime Minister in 15 years. Netanyahu made the comment after talks with Narendra Modi, who made history in July when he became the first Indian leader ever to visit Israel.

India, Israel ink new investment deal: What to know

The deal comes just a week after the Shanghai Cooperation Organization summit in Tianjin, China, where India signed a declaration condemning Israeli actions in Gaza and Iran.

KHALED DESOUKI/AFP via Getty Images

Saudi Arabia, UAE firms sign $18.5B tourism megaproject for Egypt

The new deal forms part of Egypt’s Vision 2030 agenda as the government aims to secure $42 billion in foreign direct investment this year.

Stacks of Iranian rials and US dollars sit counted on a table in an unofficial currency exchange shop, Tehran, Iran, Aug. 6, 2025.

Analysis

Old sanctions, new risks: Iran’s economy hampered by war fallout, China reliance

Europe’s move to revive UN sanctions against Iran comes amid growing economic strain for a country already buckling under war damage, domestic crises and a plunging currency.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

WANG ZHAO/AFP via Getty Images

Qataris hail Chinese robotaxis as Gulf embraces driverless cars

Three Chinese companies have publicly announced plans to roll out the autonomous vehicles in the Gulf.

Italian designer Giorgio Armani acknowledges the audience during One Night Only series in Dubai on October 26, 2021.

From Milan to Dubai: Giorgio Armani's sprawling Middle East legacy

The Italian designer's eponymous brand has luxury real estate in the Gulf, as well as North Africa.

United Arab Emirates

Saudi Commerce Minister Majid al-Kassabi and Business and Trade Secretary Jonathan Reynolds at the Great Futures summit, London, Sept. 3.

Saudi Arabia, UK announce over $445M in investments: What to know

The agreements aim to boost bilateral trade and will also support Saudi Vision 2030 reforms to diversify the economy away from reliance on oil by the end of the decade.

New cars are seen on the dock of Haydarpasa Port on May 02, 2025 in Istanbul, Turkey.

Turkey's trade deficit falls to lowest level in nearly four years: What to know

Turkey’s trade deficit in August shrank to $4.17 billion, its lowest level in 46 months, Trade Minister Omer Bolat said.

An Etihad Airways Boeing 787-9 Dreamliner comes in to land at Heathrow Airport in west London on April 29, 2024. (Photo by Adrian DENNIS / AFP) (Photo by ADRIAN DENNIS/AFP via Getty Images)

Etihad half-year profit hits record $306M on strong travel demand

The Abu Dhabi airline reported a profit after tax of 1.1 billion Emirati dirhams ($306 million), up 32% from the first half of 2024.

United Arab Emirates

A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas.

Turkish Tesla sales soar in August, surpassing European, Japanese rivals

Elon Musk’s EV company sold 8,730 Model Ys in August, jumping 86% compared to July, according to data from Turkey’s Automotive Distributors and Mobility Association.