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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.

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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

A vendor selling dates walks across a street in Islamabad on July 8, 2024, as cash-strapped Pakistan adopted a $68 billion budget laced with tax-raising measures on June 28, seeking to secure a new bailout from the IMF.

Pakistan to raise $4B from Middle East banks amid economic turbulence

For many years, Pakistan has relied on China and Gulf allies Saudi Arabia and the United Arab Emirates to roll over some of its debt to avoid having to repay it sooner.

Solar pannels cover the rooftops of the buildings of the Makhtar boarding school on September 29, 2022, in the Tunisian central-west region of the same name. - The Makthar boarding school, a unique business initiative is both generating income and opening pupils' minds to the outside world. Lotfi Hamadi, founder of the NGO "Wallah (Swear to God) We Can", is hoping that helping schools boost their resources through food and energy production can breathe new life into Tunisia's failing, cash-strapped educatio

Tunisia’s green hydrogen strategy will need domestic stakeholders

Francisco Serrano

In Lisbon, reporting on North Africa business

GIUSEPPE CACACE/AFP via Getty Images

Analysis

Saudi Arabia's oil revenue falls to three-year low as OPEC+ cuts bite

A low price environment and sustained production cuts have impacted Riyadh's ability to earn more oil revenue.

Jennifer Gnana

Samuel Wendel

By Jennifer Gnana , Samuel Wendel

Marwan Tahtah/Getty images

Analysis

What’s behind Algeria’s decision to send fuel to Lebanon?

Algeria has a history of sending fuel to Lebanon, and the Lebanese government is receiving additional help from Iraq.

Adam Lucente

By Adam Lucente

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

Libya central bank governor

Analysis

Libya: Behind abduction and failed central bank coup in Tripoli

The bank's head of information technology was abducted on Sunday morning but returned hours later.

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

BULENT KILIC/AFP via Getty Images

Turkey’s Central Bank keeps interest rates at 50% as inflation cools

The bank signaled it was ready for further hikes in case of significant deterioration in the inflation outlook.

Preparations for 44.01's first project in UAE are well underway. This DAC + mineralisation pilot with ADNOCGroup , Masdar and FNRC will be the first carbon negative project by an energy company in the Middle East.

Analysis

Oman’s sleepy tech sector showing signs of promise

Global investors are putting millions into an Omani carbon removal startup, signaling a breakthrough for a market that has lagged behind Gulf neighbors targeting tech growth.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Pro-Palestinian activists and supporters wave flags and hold placards along with a Guy Fawkes mask as they walk past a McDonald's during a protest in central London on March 30, 2024, calling for a cease-fire in the Israel-Hamas conflict.

Analysis

Global brands still can’t shake Israel boycotts hitting Starbucks, McDonald’s

Consumer backlash continues hitting the bottom line of multinationals as the Gaza war nears the one-year mark.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A man checks apples at a market in Ashkelon on Jan. 8, 2024, amid continuing battles between Israel and the Palestinian militant group Hamas in the nearby Gaza Strip.

Israel's vegetable prices soar as Turkey, Jordan ties strain: What we know

On May 2, the Turkish Trade Ministry suspended all trade with Israel “until humanitarian aid is allowed into the Gaza Strip without restrictions.”

YASSER AL-ZAYYAT/AFP via Getty Images

Kuwait explores renewable energy with Austrian company

Kuwait's agreement with Burgenland Energie reinforces country's willingness to explore foreign partnerships to develop its nascent clean energy sector.

Gantry cranes are seen behind signage for ports operator DP World at an entrance to the Port Botany compound in Sydney on Nov. 13, 2023.

UAE port operator DP World's profits fall 60% amid Yemen's Houthi Red Sea attacks

The Dubai-based logistics firm reported $265 million in profit for the first half of 2024 ending June 30, down from $651 million the same time last year.

United Arab Emirates

OMAR AL-QATTAA/AFP via Getty Images

Analysis

Pessimism prevails as Gaza cease-fire talks resume in Doha

Negotiators are meeting in Doha for what the Biden administration has described as “final stage” Gaza cease-fire talks. But with Hamas refusing to participate and Israel driving a hard bargain, is there any reason for optimism?

Elizabeth Hagedorn

By Elizabeth Hagedorn

In Washington, DC, reporting on diplomacy, regional politics, human rights