Banking and Finance

Patrick T. Fallon / AFP via Getty Images

Gulf markets gain, oil falls as Democrats win Congress

Oil prices fell after Democrats won control of the House and Senate amid hopes that a Democratic-led Congress could lead to more US restraint in Iran.

An attendee walks past signage displayed inside the venue for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 14, 2026. (Photo by ANTHONY WALLACE / AFP via Getty Images)

Syria to rejoin Arab group at IMF, leaving Russian-led constituency

Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD.

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.

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

Analysis

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

Opposition parties are demanding immediate government compensation for affected investors, who face up to a six-month wait as independent banks oversee the asset liquidations.

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

Latest News

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

A man counts Iranian rial notes

Sharaa taps Visa as Syria reconnects to global finance: What to know

cards

France, Saudi Arabia announce more than $10B in deals on MBS visit

France's President Emmanuel Macron and Saudi Arabia's Crown Prince Mohammed bin Salman shake hands

Jordan's King Abdullah heads to China in first visit since 2015: What to know

Chinese President Xi Jinping (R) shakes hands with King of Jordan Abdullah II during a signing ceremony at The Great Hall Of The People on Sept. 9, 2015, in Beijing, China.

Motorists drive vehicles past a billboard depicting Iran's late supreme leader Ali Khamenei along a street in central Tehran on August 8, 2026. Hopes for an imminent US-Iran deal to end the blockage of the Strait of Hormuz added to optimism that oil and gas, along with other key products, would again start flowing freely after more than five months of war. But oil prices turned higher ahead of the weekend in the absence of any confirmation of an accord, amid reports that Iran was planning to block US and Is

Explainer

What would BRICS Bank membership mean for Iran's reeling economy?

Iran’s Central Bank governor said the country will soon join the New Development Bank as he traveled to India this week for a meeting of the group’s finance leaders.

Building construction at the Red Sea in Egypt.

Explainer

UAE-Egypt ties keep growing as Cairo navigates shifting Gulf landscape

An Emirati investor could soon strike a $2.7 billion deal to develop another tourism project on Egypt's North Coast, the latest in a string of UAE-linked pacts that have continued advancing despite turmoil from the US-Iran war.

US President Donald Trump (R) meets with Jordanian King Abdullah II in the Oval Office of the White House, Washington, DC, Feb. 11, 2025.

Analysis

Jordan shores up US lifelines as Iran targets Amman’s reliance on Washington

Already a leading recipient of US aid, Jordan has secured fresh funds from the United States as the Iran war tests Amman and Washington's partnerships.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A man counts Saudi riyal banknotes in the capital, Riyadh, Oct. 3, 2016.

Analysis

How Gulf banks are absorbing Iran war shocks

GCC lenders had a strong hand when the Iran war erupted, affording them resilience to shocks, but risks remain.

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

US President Donald Trump meets Syrian President Ahmed al-Sharaa (L) on the sidelines of the NATO Summit at Bestepe Presidential Compound in Ankara, on July 8, 2026.

US to drop Syria from terror blacklist

The terrorism label remained a key obstacle to Syria's postwar reconstruction.

Syrian President Ahmed al-Sharaa (R) shakes hands with France's President Emmanuel Macron following a joint press conference in Damascus on July 7, 2026.

Explainer

French energy, shipping giants explore Syria deals during Macron visit

The two countries signed preliminary pacts spanning transport, healthcare, banking, infrastructure and development on Tuesday, even as twin explosions in the capital underscored the fragile investment environment.

A general view shows docked ships at the harbor of the Sudanese city of Port Sudan, on April 27, 2021.

Sudan, China ink memorandum to develop seaports: What to know

The deal comes as Sudan seeks to revive its maritime sector and revitalize its Red Sea ports.

People walk past a cryptocurrency exchange office with a screen featuring US President Donald Trump holding cryptocurrency coins in Hong Kong on March 12, 2025.

Trump earns $810M from UAE-backed crypto firm: What to know

According to the disclosure, Trump earned $810 million from crypto token sales and sales of interests in UAE-backed World Liberty Financial.

United Arab Emirates

A student attends a training seminar at the Tourism Ministry Training center in the city of Riyadh on August 30, 2022.

Interview

Saudi labor localization will take ‘generation or two': Armada CEO

Around 70% of Saudi Arabia's population is 35 years old or younger, according to the kingdom’s General Authority for Statistics, providing ample opportunity for an educated and technology-savvy national workforce in the coming decades.

Olivier Badard

CEO of Armada Holding

A picture taken on June 5, 2017, shows a man walking past the Qatar National Bank branch in the Saudi capital Riyadh.

Gulf investment to turn inward to rebuild postwar infrastructure: QNB

Charles-Emmanuel de Beauregard, Qatar National Bank’s head of corporate and institutional banking, said that the Gulf countries will need to rebuild their logistics capabilities after the closure of the Strait of Hormuz.

FAYEZ NURELDINE/AFP via Getty Images

Saudi Aramco's VC arm sees boom in emerging technologies, retail

Anas Alqahtani, CEO of Wa'ed Ventures, expects strong growth in Saudi Arabia’s emerging technology and retail sectors over the coming years.

Russian S-400 anti-aircraft missile launching system is displayed at the exposition field in Kubinka Patriot Park outside Moscow on Aug. 22, 2017 during the first day of the International Military-Technical Forum Army-2017.

Analysis

As Trump admin drops Halkbank case, S-400 last big hurdle in US-Turkey ties

The move eases a key source of friction with Turkey ahead of a NATO summit in Ankara.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture