Banking and Finance

Haruna Furuhashi /Getty Images

Could UAE tap US currency swap line as Iran war strains Gulf economies?

The Gulf country apparently wanted reassurances from Washington in case its economy is severely damaged by the Iran war.

United Arab Emirates

ANGELA WEISS/AFP via Getty Images

Why are Wall Street banks posting record profits amid Iran war?

The US-Israel-Iran war has roiled the global economy since Feb. 28, but the resulting market volatility has boosted trading profits for some.

People gather under a large portrait of Iran's new Supreme Leader, Mojtaba Khamenei, during a memorial to mark the 40th day since his father, Ali Ayatollah Khamenei, was killed in US-Israeli joint strikes, on April 9, 2026, in Tehran, Iran.

Analysis

Ceasefire without relief: How Iranians are grappling with post-war repression

Despite the ceasefire, pressure is mounting inside Iran: arrests are rising, the internet remains largely shut down, and millions face deep economic uncertainty.

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics

People sit in a cafe outside the Apple Store in Dubai on May 8, 2025.

Iran names US tech, finance firms in new Middle East threat list

Firms listed as potential targets included Oracle, Microsoft, Apple, Google, Meta, IBM, Palantir and Nvidia, while banking giant JPMorgan and UAE-based AI firm G42 were also listed.

Latest News

UAE steps in to support banks as war pressure builds: What to know

AFP via Getty Images

United Arab Emirates

Analysis

Iran war tests Gulf dealmaking as foreign investors assess risks

The city skyline is pictued in Dubai on March 11, 2026. The oil-rich Gulf has borne the brunt of Iran's attacks in response to US-Israeli strikes that sparked the Middle East war, with Tehran targeting US assets but also civilian infrastructure. (Photo by Giuseppe CACACE / AFP via Getty Images)

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

How long can markets hold their bet on Gulf resilience as war drags on?

The city skyline is pictured in Dubai on March 11, 2026.

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

Group of 32 states to release 400M barrels of oil reserves: What to know

Sakis Mitrolidis / AFP via Getty Images

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

A man walks past a currency exchange office on May 05, 2022, in Istanbul, Turkey.

Money inflows of unknown origin headed for record in Turkey

As Turkey’s current account deficit continues to widen in the coming months, foreign currency inflows of unknown origin might end up covering more than 70% of the gap.

A bank employee leaves the Federal Bank of Lebanon after being held hostage.

Family of man who held up Beirut bank stages protest

Bassam al-Sheikh Hussein took hostages at gunpoint to get his own money out of the bank. Many Lebanese, who are unable to access their savings amid the economic crisis, called him a hero.

This picture taken on Jan. 13, 2022, shows a view of the Shubra al-Kheima natural gas electrical power station.

Saudi Arabia secures funding for electricity interconnection with Egypt

Egypt just approved a plan to ration electricity, though the government said there is not a shortage of power.

A general view of the Egyptian Stock Market in Cairo on Jan. 6, 2013.

Saudi Arabia’s Public Investment Fund acquires stakes in Egyptian state-owned firms

The acquisitions help make good on Saudi Arabia’s pledge to invest billions in Egypt.

Turkey’s current account gap widens, with no respite in sight for the lira

The Turkish lira is likely to tumble further in the coming months as the country’s current account gap threatens to grow beyond $40 billion by the end of the year.

Army soldiers gather near a Federal Bank branch, Beirut, Lebanon, Aug. 11, 2022.

Breaking | Last Updated: August 17, 2022, 12:21 pm

Reports: armed man who held bank hostage in Lebanon now in custody

Lebanese cannot access most of their savings amid the worsening economic meltdown.

People walk past a currency exchange shop displaying a giant US dollar banknote in downtown Cairo on Nov. 3, 2016.

Here's how the latest US rate hike will impact Egypt's economy

A stronger US dollar will inevitably drive higher import costs, and subsequently prices, in the most populous Arab country, yet could eventually provide a boost to the local currency with an increase in exports.

A boy looks at the coins displayed at the exhibition Coins through the Ages at the Egyptian Museum in Cairo, on Aug. 10, 2010.

Downward spiral causes crash in Egypt’s gold prices

Gold prices sharply dropped in Egypt amid a drop of global prices after the US Federal Reserve hiked interest rates.

Price tags are seen on a market shelf of fresh fruit and vegetables on May 05, 2022, in Istanbul, Turkey.

Turkey raises inflation forecasts

The Turkish lira is also again falling close to historically low levels against the US dollar.

Dubai skyline

UAE Central Bank announces more sanctions

The Emirates is seeking to improve its record on financial transparency after being implicated in money laundering and sanctions evasion controversies.

Obsolete Turkish lira banknotes.

How realistic are Ankara’s hopes of trading in Turkish liras?

While the Turkish lira continues to tumble, Turkey’s currency swaps with China and other countries have failed to live up to their stated objective of boosting trade in local currencies, official data show.

MENAHEM KAHANA/AFP via Getty Images

Israeli banking reforms to facilitate fintech growth

Israeli banking authorities are advance reforms to open Israel’s credit market and render it much more competitive.