Economy and trade

A picture taken from a station of Dubai's Palm Monorail, shows traffic on a road in Palm Jumeirah on August 28, 2025.

World Bank ups Middle East 2025 economic outlook as oil, tourism rebound

The lender expects gross domestic product growth in the region to average 2.8% this year, up from its April forecast of 2.6%.

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.

Latest News

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

MAXIM SHEMETOV/AFP via Getty Images

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.

Visitors and Aramco staff climb a dune at Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in the surrounding Shaybah field in Saudi Arabia's remote Empty quarter desert close to the United Arab Emirates, on May 10, 2016. Despite collapsed global oil prices, production is expanding at Shaybah, as it is in other units of the company at the centre of the kingdom's Vision 2030 drive for diversification away from oil. The Saudi government plans to sell less than five percent of

Saudi Arabia projects $21 billion deficit as economy diversifies from oil

The kingdom was among the world’s fastest-growing economies last year with almost 9% GDP growth after a petrodollar boom amid a global rise in energy prices due to inflation and the Ukraine war.

Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman (L).

Impact of India-Mideast-Europe corridor extends far beyond countering China

Nagorno Karabakh

After Nagorno-Karabakh offensive, can Turkey play nice with Armenia?

Following Azerbaijani victory in Nagorno-Karabakh, Turkey is now laying the foundations for a rapprochement with Yerevan.

Muslim devotees take part in a rally to celebrate Eid-e-Milad-un-Nabi, which marks the birth anniversary of the Prophet Mohammad, in Karachi on September 29, 2023. (Photo by Asif HASSAN / AFP) (Photo by ASIF HASSAN/AFP via Getty Images)

Pakistan, Gulf Cooperation Council sign 'preliminary' free trade agreement

When the final trade deal comes into effect, it will likely be the GCC's first since 2009.

A man monitors the board at the Stock Exchange Market (Tadawul) bourse in Riyadh, Saudi Arabia, Dec. 12, 2019.

Analysis

Saudi Arabia fastest growing crypto economy globally amid regional drive

The kingdom led globally with a 12% increase in crypto transaction volume reaching nearly $31 billion from July 2022 through June 2023, according to an industry report released Tuesday.

By Salim A. Essaid

Gold bar wrapped in a financial newspaper.

Russia becomes UAE’s top gold supplier as Ukraine sanctions bite

The United Arab Emirates bought 96.4 tons of gold from Russia in 2022, making it Moscow's top gold importer.

United Arab Emirates

UAE trade minister

UAE eyes Serbia trade deal as CEPA blitz continues

Non-oil trade between the two countries reached $57.6 million in the first half of 2023, surpassing their entire non-oil trade value for the year 2020.

United Arab Emirates

WANG ZHAO/AFP via Getty Images

China’s Alibaba to invest $2 billion in Turkey

The news follows economic changes in Turkey as well as improving ties between Turkey and China.

This image shows high-rise buildings in Dubai, on Feb. 18, 2023.

Dubai ranks first in luxury home sales in second quarter: report

Dubai was one of only four markets to see growth in its overall sales volume of luxury homes between Q2 2022 and Q2 2023 at 79%, along with Sydney (46%), Paris (17%) and Geneva (7%).

United Arab Emirates

Captagon

Dubai's $1 billion Captagon bust ranks as one of world’s biggest

Sales of the highly addictive stimulant continue to fund the Syrian government, despite regional efforts to break up smuggling rings.

United Arab Emirates

Interview

Fintech, digital sukuk could spur Islamic finance growth in Middle East

The Gulf has seen a boom in funding for fintech startups, more than quadrupling from $200 million in 2020 to $885 million last year.

Mohamed Damak

Mohamed Damak

Global Head of Islamic Finance at S&P

India's Prime Minister Narendra Modi (R) shakes hand with Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman ahead of the G20 Leaders' Summit in New Delhi on September 9, 2023. (Photo by Evan Vucci / POOL / AFP) (Photo by EVAN VUCCI/POOL/AFP via Getty Images)

MBS and Modi discuss expanding trade goals as Saudi-India ties grow

The two leaders attended the Saudi-Indian Strategic Partnership Council where they convened on various fields of cooperation and reviewed regional and international topics of mutual interest.