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Economy & Business

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GCC-Indonesia economic ties deepen with Saudi MoUs, joint Qatar fund

Trade between Indonesia and the Gulf is rising and negotiations are underway for a GCC-Indonesia free trade agreement.

People walk past a currency exchange board showing the Turkish Lira which fell to historic lows against the dollar after the news of the arrest of Istanbul Mayor Ekrem Imamoglu on March 19, 2025 in Istanbul, Turkey.

Turkey hikes interest rate to 46% amid turmoil over Imamoglu’s arrest

The rate hike marks the first since March 2024, amid growing economic turmoil following the arrest of Istanbul Mayor Ekrem Imamoglu.

A picture taken on Dec. 7, 2021, in Istanbul shows Turkish liras.

Turkey's budget deficit narrows to $6.8B in March as lira fluctuates

The data was released as Turkey has been facing economic turmoil and currency volatility.

Cheng Xin/Getty Images

China's oil imports highest since 2023 amid Iran crude spike: What to know

Data from analytics firm Kpler from April 11 showed that Iran’s imports were up 20% from February and at a five-month high.

Latest News

David Petraeus, ex-CIA head, tapped to lead KKR's push into Mideast markets

Retired US army general, David Petraeus, speaks at the Qatar Economic Forum in Doha on May 15, 2024.

Where Middle East’s top investors stand as tariffs roil US bond market

People walk past the New York Stock Exchange on Wall Street on April 11, 2025, in New York City.

China courts Gulf, BRICS allies as trade war with US escalates

GREG BAKER/AFP via Getty Images

Mideast markets rebound with tariff suspension after top Gulf firms suffer $100B rout

Florian Wiegand/Getty Images

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Jennifer Gnana

Gulf Correspondent

In Dubai, reporting on Gulf energy policy and politics

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

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

Sabena Siddiqui

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

Sebastian Castelier

In Dubai, reporting on regional business

AFP via Getty Images

Iran oil exports to China soar in March to 1.9M bpd despite US sanctions

The United States and Iran will hold negotiations on the Islamic Republic’s nuclear program on Saturday as Tehran hopes to achieve sanctions relief.

An aerial view of the Cheniere Energy liquefied natural gas plant, on Feb. 10, 2025, in Port Arthur, Texas.

UAE's Mubadala makes first US gas play in wave of Gulf LNG investment

Other Gulf energy majors such as Saudi Aramco and ADNOC have already made significant investments in US LNG.

United Arab Emirates

oil field

After steep fall, oil prices slightly recover following Trump tariff pause

Over the last week, oil prices have plummeted amid the escalating trade war between the United States and China.

Italian energy giant Eni's general director, Claudio Descalzi.

Italy's Eni to invest $26B in Egypt, Libya, Algeria energy projects

Eni is already a leading foreign energy company in the region, with footholds in Algeria, Egypt and Libya.

Alex Wong/Getty Images

Analysis

Trump tariffs could disrupt Gulf’s IPO hot streak as markets sink

New US tariffs have roiled markets worldwide and initial public offerings should not be expected to escape unscathed.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Wright

US energy secretary to tour Gulf amid oil market pressure, Iran talks

US Energy Secretary Chris Wright is expected to meet with several Gulf leaders during his trip as the region grapples with lower oil prices after President Donald Trump imposed universal tariffs last week.

A trader walks by beneath a stock display board at the Dubai Stock Exchange in the United Arab Emirates, on March 8, 2020. - Saudi's stock exchange fell 6.5 percent and other Gulf markets tumbled to multi-year lows at the start of trading after OPEC and its allies failed to clinch a deal over oil production cuts. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Oil prices fall as Gulf economies grapple with Trump’s tariffs: What to know

Falling oil prices could negatively impact the budgets of Gulf states and are coinciding with losses in the region’s stock markets.

Turkey's Minister of Finance Mehmet Simsek takes part in a panel discussion during the Doha Forum in the Qatari capital on December 7, 2024. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

Turkey's Simsek says economy will ride out Trump tariffs without lasting scars

Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop.

Thomas Kronsteiner/Getty Images

OPEC+ members boost output as Trump tariffs bring down oil prices

The US president has been calling on Saudi Arabia and other top oil producers to boost production and bring down prices.

WASHINGTON, DC - APRIL 02: U.S. President Donald Trump speaks during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as “Liberation Day”, Trump announced additional tariffs targeting goods imported to the U.S. (Photo by Chip Somodevilla/Getty Images)

How Trump's latest tariffs impact the Middle East

Gulf countries were relatively spared, with the US imposing only a 10% tariff, whereas other Middle Eastern nations are facing steeper trade penalties.

The PwC Tower, or Libeskind Tower, Milan, March 12, 2021.

Analysis

Can Gulf states slash costly reliance on Western consultancies?

A one-year ban on PwC acquiring work in Saudi Arabia has highlighted the Gulf states' dependency on Western firms and the need to develop local consultancies and talent.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A couple hold their son's hands as they herd sheep near the village of Amellagou where Morocco's last nomads reside, on Sept. 2, 2022.

Morocco's economic growth slows as drought, locusts deplete farmland

The North African country is grappling with a sixth year of drought, the longest in Morocco’s modern history.