Economy and trade

A man walks past a closed foreign exchange office in Baghdad on October 7, 2026. Iraq's central bank devalued the dinar currency against the dollar on October 7, with the country facing a deepening crisis brought on by the Middle East war. (Photo by AHMAD AL-RUBAYE / AFP via Getty Images)

Iraq devalues dinar 13% as Hormuz disruption hits oil revenue

The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320.

Turkey's Family Minister Fatma Betul Sayan Kaya speaks to media after arriving at the Ataturk International airport on March 12, 2017, in Istanbul.

Erdogan aide named suspect in Turkey financial scandal

Former AKP deputy chairwoman Fatma Betul Sayan Kaya is facing allegations of being linked to a market manipulation scandal.

A view of a traffic roundabout in central Latakia, Syria on June 12, 2025. The city's road network converges near the coast, forming one of the busiest urban intersections in the province. (Photo by Omar Albaw / Middle East Images via AFP) (Photo by OMAR ALBAW/Middle East Images/AFP via Getty Images)

UAE-Syria move ahead on $20 billion real estate mega-developments

Major housing and tourism projects in Damascus and Latakia are set to advance following a new agreement with UAE real estate tycoon Mohamed Alabbar.

Iranian Oil Minister Mohsen Paknejad looks on during the 27th Gas Exporting Countries Forum ministerial meeting, Doha, Qatar, Oct. 23, 2025.

Iran’s economy deteriorates, oil minister resigns, workers protest: What to know

Iran’s oil minister has resigned amid mounting economic pressure from US sanctions and restrictions on the country’s exports.

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Analysis

Turkey’s $20B fund crisis: Who profited, and who will pay?

Traders work at their desks on the floor of the Borsa Istanbul

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

Iran’s rial hits record low as pressure on oil exports mounts

A man counts Iranian rial notes

Oil rises amid Hormuz impasse, Trump attack threat

In this picture obtained from Iran's ISNA news agency on June 18, 2026, vessels are seen anchored in Bandar Abbas along the Strait of Hormuz.

Explainer

Turkish carriers halt Iran flights as US sanctions bite: Who could follow?

YASIN AKGUL/AFP via Getty Images

Heineken

Heineken to draft in Gulf’s first large-scale brewery in Dubai

The Dubai-based brewery will begin construction in late 2025 and has secured all necessary permits, Heineken said in a statement.

United Arab Emirates

Algerian People's National Council

Iran sends senior delegation to Algeria, Tunisia as relations warm

This week, a high-level Iranian delegation is visiting Algeria and Tunisia for talks with senior officials from both North African countries.

A picture taken on Nov. 23, 2016, shows a phosphate rock production site at the Maaden Aluminium Factory in Ras Al-Khair Industrial area near Jubail City, 570 kms east of the Saudi capital Riyadh.

Saudi Arabia seeks mining deals with Chinese, Indian and Canadian firms in industry push

Companies from China and India announced billions of dollars' worth of investments in the Saudi mining sector, while Canadian companies could win contracts in the kingdom.

Iran's Islamic Revolutionary Guard Corps special forces fire a short-range missile during a military drill in the Gulf of Oman near Iranian southern port town of Bandar-e-Jask on Tuesday, April 4, 2006.

Iran and Azerbaijan hold joint military drills in sign of easing tensions

Iran and Azerbaijan are at odds over the planned Zangezur Corridor through Armenia, as well as Baku’s relations with Israel.

Turkey's President Recep Tayyip Erdogan (L) gestures as he welcomes Crown Prince of Saudi Arabia Mohammed bin Salman (R) during an official ceremony at the Presidential Complex in Ankara, on June 22, 2022. - Saudi Arabia's de facto ruler took a big step out of international isolation on June 22, 2022, paying his first visit to Sunni rival Turkey since the 2018 murder of journalist Jamal Khashoggi in the kingdom's Istanbul consulate. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Analysis

What's driving Saudi-Turkish momentum as trade set to pass $8B?

As economic relations between Riyadh and Ankara continue to warm, Turkish construction companies are finding Saudi Arabia full of opportunity.

Sabena Siddiqui

By Sabena Siddiqui

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

WASHINGTON, DC - MARCH 20: President Donald Trump (R) holds up a chart of military hardware sales as he meets with Crown Prince Mohammed bin Salman of the Kingdom of Saudi Arabia in the Oval Office at the White House on March 20, 2018 in Washington, D.C. (Photo by Kevin Dietsch-Pool/Getty Images)

Analysis

Saudi Arabia to pursue two-track approach for Trump presidency

Riyadh is likely to compartmentalize business dealings with incoming President Donald Trump separately from its foreign policy engagements, where there is likely to be disagreement.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

ATTA KENARE/AFP via Getty Images

After UAE visit, Qatari PM holds talks in Iran as Hamas officials depart Doha

A Gulf political official told Al-Monitor on Wednesday that the Qatari prime minister's visit to the UAE is designed to communicate Doha's new policy toward Hamas, where it seeks to be more in alignment with them regarding the group.

Egyptian pound banknotes lie on a table on March 6, 2024, in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market.

Egypt to launch first IPO in three years amid IMF-fueled privatization drive

The move comes amid a privatization drive in Egypt as part of the International Monetary Fund’s conditions to provide Cairo with an $8 billion bailout to help the North African country recover from an economic crisis.

NUSA DUA, INDONESIA - JULY 08: The Indonesian Minister for Foreign Affairs, Retno Marsudi (R) greets the Italian Minister of Foreign Affairs, Luigi Di Maio (L) during arrival of the G20 Foreign Ministers and Head of Department at the Grand Ballroom Mulia Hotel on July 08, 2022 in Nusa Dua, Indonesia. (Photo by Robertus Pudyanto/Getty Images)

Interview

EU escorted over 200 ships in Red Sea amid Gulf maritime threats, envoy says

The Gulf states are supporting the EU's Operation Aspides to counter the Houthi threat in the Red Sea region, as both seek greater cooperation on maritime security, said Luigi di Maio.

Luigi di Maio

Luigi di Maio

EU Special Representative for the Gulf

MAURO PIMENTEL/AFP via Getty Images

Even with MBS absent, Saudi Arabia and UAE poised to make deals at G20

Gulf states will look for agreements and trade deals with partners from South America and elsewhere ahead of US President-elect Donald Trump's inauguration in January.

French President Emmanuel Macron and First Lady Brigitte Macron embark on an aircraft at the airport of Sale, north of Rabat, on Oct. 30, 2024.

Analysis

Relations between France, Algeria grow cooler over Morocco ties

The latest trip of French President Emmanuel Macron to Rabat was the last straw in the already shaky relations between Paris and Algiers.

Rina Bassist

By Rina Bassist

In Paris, reporting on Israeli politics and European affairs

Saudi Foreign Minister Faisal bin Farhan and Indian External Affairs Minister S. Jaishankar attend a plenary session in the outreach/BRICS Plus format at the BRICS summit, Kazan, Oct. 24, 2024.

Analysis

Driven by geopolitics and trade, India-Saudi ties get boost from FM visit

Indian and Saudi foreign ministers discussed regional stability after Donald Trump's election and what his presidency might mean for foreign relations autonomy, trade and investment.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics