Economy and trade

Australian Prime Ministry

UAE deepens Asia ties as Malaysia, Australia trade deals kick in

Asia accounts for around 60% of the world’s gross domestic product and pursuing trade deals there helps the UAE hedge against dependence on both the US and China.

United Arab Emirates

A Riyadh Metro train makes its way along a track in the middle of a road in Riyadh on December 3, 2024.

What’s next for Saudi Arabia’s budget balancing act as deficit doubles?

The Gulf state now expects a deficit of $65.3 billion in 2025 — more than double the initial forecast — as the kingdom continues heavy spending amid weak oil prices.

The Saudi delegation meets with Vietnamese officials in Hanoi, Sept. 29, 2025.

After China, Saudi industry minister visits Vietnam in eastward economic push

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with a number of Vietnamese officials on Monday as the oil-rich Gulf kingdom looks east to diversify its economic alliances.

MAXIM SHEMETOV/AFP via Getty Images

Sudan, Russia sign trade deals as Khartoum seeks funds, Moscow eyes Red Sea port

The meeting in Moscow produced two agreements and an economic and trade cooperation protocol.

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Analysis

OECD forecasts 3.7% growth for Saudi Arabia, citing US tariff shield

Pictured is the entrance to King Abdullah Economic City in Jeddah, on Feb. 3, 2009.

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

Egypt’s Sisi talks water security with Rwanda's president in wake of Ethiopia’s megadam debut

Egyptian President Abdel Fattah al-Sisi greets his Rwandan counterpart Paul Kagame in Cairo, Sept. 23, 2025.

Turkey scraps tariffs on some US imports ahead of Erdogan-Trump meeting

US President Donald Trump (L) and Turkey's President Recep Tayyip Erdogan (R) leave the stage after the family photo to head to the plenary session at the NATO summit at the Grove hotel in Watford, northeast of London.

Analysis

As Carrefour retreats in Mideast, can new Gulf superstore brand advance?

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

INTERNATIONAL WATERS RED SEA, YEMEN - NOVEMBER 20: This handout screen grab captured from a video shows Yemen's Houthi fighters' takeover of the Galaxy Leader Cargo in the Red Sea coast off Hudaydah, on November 20, 2023 in the Red Sea, Yemen. On Monday, the Houthi movement in Yemen released footage and photos of the Houthi-run coastguard taking over the Israeli-linked Galaxy Leader Vessel in the Red Sea, which had 52 people onboard. Galaxy Leader is owned by Galaxy Maritime Ltd in the Isle of Man and is li

Analysis

How will Trump's terrorist designation of Houthis impact Red Sea attacks?

Oil trade via the Houthi-controlled Bab el-Mandeb strait decreased by 50% after the Yemeni rebels launched maritime attacks, according to the US Energy Information Administration.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Syria's Foreign Minister Asaad al-Shibani looks on during a session as part of the World Economic Forum annual meeting in Davos, on Jan. 23, 2025.

WEF: Arab businesses ‘very keen’ to invest in Syria after Assad’s ouster

Syria's new foreign minister, Asaad al-Shibani, attended the World Economic Forum in Switzerland this week, along with over 50 heads of state and hundreds of business moguls.

US President Donald Trump (R) shakes hands with Saudi Crown Prince Mohammed bin Salman in the Oval Office of the White House, Washington, DC, March 20, 2018.

In first Trump call, Saudi crown prince says trade with US could hit $600B

US President Donald Trump spoke with Saudi Crown Prince Mohammed bin Salman in his first phone call to a foreign leader after his inauguration on Jan. 20.

GIUSEPPE CACACE/AFP via Getty Images

Exclusive

UAE Foreign Trade Minister Zeyoudi expects 14% trade increase in 2024: Interview

This rise has been propelled by the country's growing non-oil trade and trade deals, the UAE minister told Al-Monitor.

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

Saudi's Foreign Minister Faisal bin Farhan Al Saud attends the meeting of Foreign Ministers of the Gulf Cooperation Council countries, Kuwait City, Kuwait, Dec. 26, 2024.

Saudi FM set to travel to Lebanon, will press Beirut for 'real reform'

Prince Faisal said he would meet Lebanon's new leadership to gauge potential for Saudi investment and noted that Trump's reelection lessened the prospect of war in the region

Mawlawi Amir Khan Muttaqi visited Abu Dhabi and met with Emirati Foreign Minister Sheikh Abdullah bin Zayed on Jan 8.

Analysis

By hosting Taliban FM, UAE seeks to expand influence in Afghanistan

Abu Dhabi plans to invest up to $400 million in Afghanistan and upgrade the Central Asian country's consulate in Dubai.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Iraqi Prime Minister Mohammed Shia al-Sudani (R) and Iranian President Masoud Pezeshkian in Tehran on Jan. 8, 2024.

Khamenei pushes for US withdrawal from Iraq in meeting with Sudani

Prime Minister Mohammed Shia al-Sudani’s trip to Tehran is his first since the ouster of Syrian President Bashar al-Assad and comes ahead of Donald Trump’s return to the White House.

A military corvette in the port of Malaga, Spain, March 4, 2020.

Analysis

With Saudi and UAE deals, Spain's defense industry seizes Gulf expansion

This partnership reflects a broader trend of strategic alignment between Gulf states’ economic and security objectives and Spain’s technological expertise especially in the naval sector.

Francesco Schiavi

By Francesco Schiavi

In Bologna, reporting on security, defense, economy, governance

Hadath

Syrian delegation visits Saudi Arabia in first post-Assad trip: What we know

Syrian Foreign Minister Al-Shaibani is on his first foreign visit to Riyadh less than a month since Bashar al-Assad's fall, received by senior Saudi officials including the foreign and defense ministers.

A man watches stock movements on a display at the Dubai Financial Market stock exchange in the Gulf emirate on April 12, 2022.

Analysis

Middle East IPOs shine in 2024 but face new challenges

Middle East IPOs hauled in over $13 billion in 2024, and the region also produced three of the year’s 10 largest listings worldwide.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

OMAR HAJ KADOUR/AFP via Getty Images

Analysis

From BRICS to dwindling oil revenues, 2024 was mixed year for Gulf

The ongoing conflict in Gaza, big international investment deals, low oil revenue and increased curtailing of democratic rights dominated Gulf politics and economy in 2024

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Traffic flows on a main road past electricity transmission towers in Tehran, on Dec. 16, 2024.

Iran's energy crisis shuts 80 power plants as rial plummets: What to know

Amid freezing temperatures and increased demand for heat, Iran is facing an acute energy crisis that has all but shut down the country.