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.

Latest News

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

A train moves during the inauguration of a 140-kilometres line running from eastern Iran into western Afghanistan, at a railroad station in Khaf, on Dec. 10, 2020.

Analysis

Iran revives cross-border rail projects in bid to anchor Eurasian trade routes

Iran aims to turn its rail network into a strategic lever across Eurasia, despite risks from sanctions and regional instability.

Sabena Siddiqui

By Sabena Siddiqui

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

US Energy Secretary Chris Wright speaks during an event with President Donald Trump in the Oval Office at the White House on Oct. 6, 2025 in Washington, DC.

US energy secretary scraps visit after Israel puts $35B Egypt gas deal on hold

Despite US pressure, Energy Minister Eli Cohen refuses to approve a $35 billion gas deal with Egypt until "a fair price for the Israeli market" is secured.

An employee wearing a face mask against the coronavirus, is pictured at the port of Jebel Ali, operated by the Dubai-based giant ports operator DP World, in the southern outskirts of the Gulf emirate of Dubai, on June 18, 2020.

UAE’s DP World to invest $5B in India's infrastructure: What to know

The Dubai-headquartered logistics firm has already invested $3 billion into the South Asian nation over three decades.

United Arab Emirates

FAYEZ NURELDINE/AFP via Getty Images

Billion-dollar AI, clean energy deals headline Saudi 'Davos in the Desert'

Humain, an AI firm backed by the Saudi sovereign wealth fund, the PIF, signed a $3 billion deal with AirTrunk, a company backed by US asset manager Blackstone, to build a data center campus in the kingdom.

Shark Tank Lebanon

Culture

'Shark Tank Lebanon' debuts, offering entrepreneurs hope amid economic turmoil

A Lebanese version of the popular US reality TV show "Shark Tank" hit the airwaves in Lebanon, where unemployment rates have reached record highs in the past years due to a protracted economic and financial crisis and the Israel-Hezbollah war.

AAMIR QURESHI/AFP via Getty Images

Iran to host Pakistani interior minister as border security, trade talks advance

Iran is finessing its relations with Pakistan, seeking to bolster border security and increase trade in response to sanctions.

Egyptian President Abdel Fattah al-Sisi, European Council President Antonio Costa and European Commission President Ursula von der Leyen pose for pictures before the signature of joint statements and agreements during the EU-Egypt summit in Brussels, on Oct. 22, 2025.

Analysis

EU-Egypt summit unlocks over $4B for Cairo as investments beckon

The landmark summit came 19 months after the EU and Egypt signed a 7.4 billion euro ($8.6 billion) strategic and comprehensive partnership aimed at stabilizing the North African nation’s economy and curbing irregular migration to Europe.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Picture of ore as mineral cassiterite (SnO2).

US, UAE strike $1.8B critical mineral venture amid China tensions and Gulf rivalry

United Arab Emirates

Iran's Deputy Defense Minister Majid Ebnoreza (L) sits next to Andrei Matsiyevich.

Grappling with Western sanctions, Iran, Belarus strengthen military ties

Defense-related cooperation between Iran and Belarus has accelerated considerably in recent years, particularly after Belarusian President Alexander Lukashenko’s trip to Tehran in 2023.

This picture taken on February 6, 2023 shows a view of Tibbin dual fuel (natural gas and fuel oil) powerplant and Helwan Steelworks, in the Helwan suburb south of Egypt's capital. (Photo by Amir MAKAR / AFP) (Photo by AMIR MAKAR/AFP via Getty Images)

Egypt discovers 18 oil, gas wells as Cairo looks to up energy output

The discoveries support the government's ambition to increase Egypt's domestic energy supply.

Tamim bin Hamad Al Thani

Turkey, Qatar sign defense deal as Ankara eyes Doha’s Eurofighters

The Turkish president’s visit to Qatar during his Gulf tour largely centered on defense ties and Qatar’s little-used Eurofighters, as Ankara moves to quickly rebuild its air power.

A ship sails along Egypt's Suez Canal near Ismailia, on April 16, 2025.

China deepens textile investments in Egypt's Suez Canal Zone

The agreements will establish new textiles factories covering 238,000 square meters, which are expected to create more than 3,000 direct job opportunities.