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Economy & Business

Aluminum from Dubai sits in the BMW Landshut factory on Oct. 25, 2024 in Ergolding, Germany.

Analysis

Gulf aluminum pursues global deals as Hormuz crisis accelerates shift

Gulf aluminum exporters are targeting global deals amid fallout from the US-Israel-Iran war, which has pushed prices to multiyear highs in early June.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Chip Somodevilla/Getty Images

Bessent says Iran's frozen assets will pay for Gulf damage, Hormuz tolls

US Treasury Secretary Scott Bessent said that any damage Iran inflicts on Gulf allies will be paid for with funds extracted from Iranian accounts.

Scott Olson/Getty Images

Explainer

US strategic oil stockpile nears four-decade low as Iran war drags on

The US Strategic Petroleum Reserve fell to 349.2 million barrels amid the global energy shock caused by the war in Iran.

Latest News

Suez Canal traffic soars as Hormuz disruptions reroute energy trade

KHALED DESOUKI/AFP via Getty Images

Syria says Iraqi oil shipments surge as Damascus courts foreign energy investment

A long convoys of Iraqi diesel-laden tanker trucks line up along the highway Tartus-Baniyas highway as they wait to unload their cargo at the Baniyas port refinery on the Mediterranean Sea, on April 15, 2026.

Explainer

Saudi Arabia, Turkey advance plans to revive historic Hejaz Railway

An old locomotive sits outside the Hejaz rail station in old Damascus on February 23, 2010. The Hejaz railway ran from Damascucs to Medina in Saudi Arabia and was part of the Ottoman railway network. AFP PHOTO/LOUAI BESHARA (Photo credit should read LOUAI BESHARA/AFP via Getty Images)

Israel-Iran escalation grounds flights across parts of Middle East

An Airbus A321 airliner arrives at the Mehrabad international airport during the delivery of the first batch of planes to the Iranian state airline Iran Air in the capital Tehran on Jaunary 12, 2017. - The aircraft arrived as part of an order for 100 other Airbus planes with a list price of around $20 billion (19 billion euros) on December 22, placed after the lifting of international sanctions on the Islamic republic. It will be used for internal flights landed at Tehran's Mehrabad airport. (Photo by ATTA

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

Oil tankers and high-speed crafts anchored near the Strait of Hormuz, Muscat, Oman, March 30, 2026.

Analysis

Oman’s wartime paradox: Diplomatic losses, economic gains

Experts see Oman gaining long-term economic benefits from the US-Israel-Iran war even as the conflict bruises Muscat’s diplomatic standing.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

UAE's Sky News Arabia split from Sky raises issue of media, power in Gulf

UK-based Sky News recently announced that it would relinquish its stake in the 24-hour Arabic-language channel launched with Emirati partner International Media Investments.

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

BOUREIMA HAMA/AFP via Getty Images

Algeria begins work on Trans-Saharan gas pipeline to Europe

Algerian state-owned energy giant Sonatrach will build a section of the pipeline and connect it to an existing system in the southwestern Aoulef region that supplies Europe.

RANIA SANJAR/AFP via Getty Images

Saudi Arabia's new Riyadh Air set to begin flights amid aviation turmoil

Saudi Arabia's long-awaited national airline is set to begin commercial flights on July 1 as the US-Israel-Iran war continues to cloud regional aviation.

Amjad Kurdo / Middle East Images / AFP via Getty Images

Explainer

How Iran war created unexpected economic beneficiaries

The Strait of Hormuz crisis is reshaping global energy and trade flows, creating opportunities for economies far beyond the Middle East.

Tankers are seen at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in the Sharjah Emirate, along the Strait of Hormuz, a waterway through which one-fifth of global oil output passes on June 23, 2025.

UAE eyes first multifuel pipeline as Hormuz crisis drags on

State-owned Abu Dhabi National Oil Company is considering building a refined oil products pipeline that bypasses the Strait of Hormuz.

United Arab Emirates

People stand in front of the Arrow 3 shield system during an event of the German Air Force to declare the Initial Operating Capability for the Arrow Weapon System for Germany at the Annaburger Heide Air Base in Schoenewalde / Holzdorf, eastern Germany, on Dec. 3, 2025.

Record Israeli arms exports highlight global rush for air defense

Rocket and air defense systems sales accounted for 29% of Israel's defense exports in 2025.

AHMAD AL-RUBAYE/AFP via Getty Images

Iraq arrests deputy oil minister in anti-corruption push

The arrest of Adnan al-Jumaili marks a second signification step against corruption by Prime Minister Ali Al-Zaidi’s government amid growing pressure from the Trump administration.

The symbols of bitcoin and the stablecoin Tether (USDT) are displayed at a cryptocurrency store in Hong Kong on July 29, 2025.

Interview

Saudi Arabia eyes state-backed stablecoin amid digital finance push

Tokenization in Saudi Arabia has rapidly evolved from concept to early-stage execution since the early 2020s.

An oil refinery in the northern Libyan town of Ras Lanuf, June 3, 2020.

Analysis

Iran oil shock jolts Libya’s fortunes, but old fault lines complicate national recovery

Soaring energy prices due to the Iran war are delivering a windfall to Libya just as the country's oil and gas sectors show signs of resurgence.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Win McNamee/Getty Images

Explainer

Trump team floats $300B Iran fund after rejecting Tehran’s past business pitch

Amid negotiations to end the war, an eye-catching new proposal from the Trump administration echoes past attempts to use business deals to avert new regional hostilities.