Economy & Business - Al-Monitor: The Middle Eastʼs leading independent news source since 2012

Business and Economy Cover Image

Economy & Business

GIUSEPPE CACACE/AFP via Getty Images

Abu Dhabi’s sovereign funds ranked wealthiest in world with $1.7 trillion

The assets of Gulf sovereign funds have risen considerably in recent years, in large part due to the UAE and Saudi Arabia.

United Arab Emirates

AFP via Getty Images

Middle East startups see 34% uptick in global investors

Data firm MAGNiTT reported Tuesday that the Middle East far outperformed other markets and regions, including Africa and Southeast Asia, which saw steeper drops.

Ethan Miller/Getty Images

Las Vegas gambling operator Wynn Resorts to open first UAE casino

The UAE is looking to lure gaming tourists with the development of a large casino in the northern emirate of Ras al-Khaimah.

United Arab Emirates

This picture shows closed shops in an alley of Jerusalem's Old City, on Sept. 11, 2024, amid the ongoing war between Israel and Palestinian militants.

Analysis

A year after Oct. 7, Israel’s economy battered by endless multifront wars

A year after the deadly attack on southern Israel by the Hamas militant group and the ensuing war in Gaza, the direct cost to the Israeli economy has been more than 100 billion shekels ($26.3 billion), according to the Israeli Finance Ministry.

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

Latest News

Analysis

Israel-UAE trade to hit $3.3B in 2024 as wars in Lebanon, Gaza continue

The flags of Israel, United Arab Emirates, and Bahrain are projected on the ramparts of Jerusalem's Old City on September 15, 2020 in a show of support for Israeli normalisation deals with the United Arab Emirates and Bahrain. - Israeli Prime Minister Benjamin Netanyahu signed landmark accords normalizing the Jewish state's relations with the United Arab Emirates and Bahrain, as part of a peace push brokered by US President Donald Trump. (Photo by Menahem KAHANA / AFP) (Photo by MENAHEM KAHANA/AFP via Getty

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Iranian oil tankers flee crude loading site amid fears of Israeli attack

An Iranian flag flutters on board the Adrian Darya oil tanker, formerly known as Grace 1, off the coast of Gibraltar on Aug. 18, 2019.

Sign up to our Daily Briefing

Keep up with Al-Monitor's top stories with a morning digest from across the region.

Al-Monitor newsletter collage

Turkey's annual inflation falls lower than expected to 49.4%

A street vendor sells corn as he waits for customers in the Eminonu district of Istanbul, Turkey, Aug. 30, 2024.

Analysis

How an Israeli retaliation on Iran could impact Gulf energy flow

A man walks across from a raging fire at oil storage tanks a day after Israeli strikes on the port of Yemen's Houthi-held city of Hodeidah on July 21, 2024.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Jack Dutton

Chief Business Correspondent

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

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jennifer Gnana

Gulf Correspondent

In Dubai, reporting on Gulf energy policy and politics

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Sebastian Castelier

In Dubai, reporting on regional business

Cars drive along a street in front of high-rise buildings in Dubai, on February 18, 2023. - Home to towering skyscrapers and ultra-luxury villas, Dubai saw record real estate transactions in 2022, largely due to an influx of wealthy investors, especially from Russia. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

UAE aims to attract family offices to boost stature as wealth hub

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

Cairo money

Egypt urban inflation rises to 26.2% in August, first jump in five months

The unexpected increase in inflation comes as Egypt deals with the economic effects of the Red Sea attacks and a new cabinet in office.

Abu Dhabi's Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan (L) listens to India's Prime Minister Narendra Modi before their meeting at the Hyderabad House in New Delhi on September 9, 2024.

India’s Modi hosts UAE crown prince, inks 5 energy, nuclear agreements

The agreements were signed during Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s visit to New Delhi.

United Arab Emirates

China's Vice Premier Ding Xuexiang (C) delivers his speech.

At Africa summit, China elevates ties with Libya, invests $14M in Egypt

The Sino-Libyan pact was announced Wednesday by Chinese President Xi Jinping and President of the Libyan Presidency Council Mohamed al-Menfi at the FOCAC summit in Beijing.

A bank teller counts money as a customer looks on at a bank in Libya's western coastal city of Misrata on Aug. 25, 2024.

Libya factions agree to appoint new central bank chief to end crisis: UN

The House of Representatives, based in the eastern city of Benghazi, and the High State Council in Tripoli in the west signed a joint statement after two days of talks hosted by the UN Support Mission in Libya.

Police officers stand guard outside Libya's Central Bank headquarters in Tripoli on Aug. 27, 2024.

Interview

From Turkey, exiled Libyan Central Bank governor decries 'coup d'etat'

Governor Sadiq al-Kabir spoke exclusively to Al-Monitor after he and other senior officials at the Libyan Central Bank fled to Istanbul at the end of last month, as militias linked to Libya's internationally recognized government threatened them.

Sadiq al-Kabir

Sadiq al-Kabir

Governor of the Central Bank of Libya

Saudi Hawks

China, Russia, UAE make strong showing at Egypt International Airshow

China sent military aircraft to fly over the pyramids ahead of the event, which followed a joint naval exercise between Egypt and the People’s Republic.

King Abdullah Centre

Middle East fintech funding sees 650% spike in 2020-2023

Fintech is one of the most funded and transacted industries across the MENA region, according to a MAGNiTT report, accounting for 24% of all venture investment in the region in the first half of 2024.

Boeing

Analysis

Turbulent skies: How Israel-Iran tension is disrupting global aviation

Military action — and even the mere anticipation of conflict — often trigger widespread disruptions in airspace management, affecting commercial and cargo flights across the globe.

Mehran Haghirian

By Mehran Haghirian

A clerk counts banknotes at a currency exchange office in Lebanon's capital Beirut, on January 20, 2023.

Analysis

How close is Lebanon to being added to FATF grey list for money laundering?

The Paris-based Financial Action Task Force (FATF) is considering adding Lebanon to its ‘’grey list’’ of countries that enable money laundering by terror groups.

Rina Bassist

By Rina Bassist

In Paris, reporting on Israeli politics and European affairs

Libyan Central Bank Governor Sadiq al-Qabir speaks during a news conference in Tripoli, Jan. 13, 2012.

Libya central bank governor flees the North African country to avoid militias: Report

The Central Bank has been in crisis for several days, since its head of IT was kidnapped and released.

AFP via Getty Images

Libya's Sarir oil field latest to shut down amid central bank standoff

The Sarir oil field has halted almost all production of around 209,000 barrels per day, engineers said.