Middle East/Economy


 3 min read

Economy
A sign indicates the Saudi Aramco in front of the company's offices in the Saudi capital Ryadh, on December 5, 2019.

Saudi Aramco unveils record $48.4 billion profit in second quarter of 2022

The oil giant supplanted Apple as the world's most valuable company in March

 3 min read

Economy
A man shouts as he protests against banks outside a bank where another armed man holds hostages in Beirut, Lebanon, on August 11, 2022.

Lebanon: Armed man demanding frozen money takes hostages at bank

Lebanese banks are limiting withdrawals of hard currency amid the country's three-year financial meltdown

 2 min read

Economy
The sun rises over the city skyline with the Burj Khalifa in Dubai, the United Arab Emirates, on December 31, 2016.

Dubai’s biggest bank gives pay raises to cushion inflation

The trajectory of price increases represents a significant turnaround from deflation throughout 2019 and 2020

 2 min read

Economy
A handout picture released by the Jordanian Royal Palace on March 10, 2022 shows King Abdullah II of Jordan (C) meeting with Israeli Foreign Minister Yair Lapid (L) in the capital of Jordan, Amman.

Israel and Jordan to establish joint industrial zone on border

It will create joint initiatives in trade, technology and local industry

 3 min read

Economy
A Gaza clothes merchant holds up jeans during a sit-in to protest a new tax on imported goods, in front of the Clothes Traders Syndicate in Gaza City, July 21, 2022.

Hamas raises taxes in impoverished Gaza, sparking protests

'This is a wrong, oppressive decision that destroys the national economy'

 3 min read

Economy
France's President Emmanuel Macron (L) welcomes United Arab Emirates President Sheikh Mohamed bin Zayed Al-Nahyan at the Elysee Palace, in Paris, France, on July 18, 2022.

UAE inks energy deal with France as Macron hosts Emirati leader

'The UAE is keen to support energy security in the world in general and in France in particular'

 3 min read

Economy
People shop for clothing at a pavilion during the Mosul International Shopping Festival in Iraq's northern city on September 2, 2019.

Most Arabs believe economy is weak under democracy - survey

23,000 people were interviewed in 9 countries in the Middle East, north Africa and the Palestinian territories

 2 min read

Economy
A man walks in front of a screen showing rates against Turkish lira near a currency exchange agency in Istanbul, Turkey, on December 16, 2021.

Turkish inflation hits two-decade high of 78.6%

The price of household goods surged by 81.1 percent

 2 min read

Economy
Flags set up during Israel's Negev Summit attended by the foreign ministers of Israel, Egypt, Bahrain, the UAE, Morocco, and the United States at Sde Boker in the southern Negev desert, Israel, on March 28, 2022.

Israel reaches record trade increase with Arab States under Abraham Accords

Trade with Jordan increased by 54 percent from last year amounting to $55 million

 2 min read

Economy
Displaced Yemenis receive food supplies provided by the World Food Programme, at a school in Sanaa, Yemen, Sunday, Aug. 25, 2019

WFP cuts Yemen food rations by over 50% due to funding gaps, global inflation

13 million people to receive less than half of the daily nutritional requirement

 4 min read

Economy
A Palestinian boy next to the entrance of the UNRWA Rimal Health Center in Gaza City, Gaza, on November 9, 2020.

UNRWA warns ‘chronic underfunding’ will lead to collapse

The situation for 'Palestinian refugees is more acute' in the face of Covid and the war in Ukraine

 2 min read

Economy
The Deir Ammar power station in the northern city of Tripoli, Lebanon, on July 10, 2021.

Egypt, Lebanon and Syria sign gas import agreement

Egypt to transfer 650 million cubic meters per year to Lebanon

 2 min read

Economy
A salesman on his phone while selling eggs at an eggstand in the Machane Yehuda Market, Jerusalem, January 27, 2018.

Global inflation crisis ripples through Middle East

Israel and the Middle East not immune to crisis with inflation felt in the region in different ways

 3 min read

Economy
A man ties a Turkish flag to a pole on top of a popular food restaurant in Istanbul, Turkey, on December 20, 2021.

Turkey’s economy liberal, and growth sustainable, says finance minister

'All of our institutions are acting with the understanding of a joint struggle'

 2 min read

Economy
Sheikh Hamed bin Zayed al-Nahayan (R) attends the Cityscape exhibition in the Emirati capital Abu Dhabi on April 18, 2010.

Abu Dhabi state firm to allocate $10 billion for projects with Egypt, Jordan

Partnerships to focus on agriculture, pharma, minerals and textiles

 2 min read

Economy
An Algerian employee prepares bread at a bakery in the capital Algiers, on February 27, 2022.

Middle East, north Africa hit by higher commodity prices - IMF

Food prices account for nearly 60% of last year’s increase

 3 min read

Economy
An employee at the Saudi Aramco oil facility at the plant in Saudi Arabia's Red Sea city of Jeddah, on November 24, 2020.

Saudi Aramco becomes world's most valuable company

The Saudi Arabian oil giant is valued at $2.42 trillion, surpassing tech giant Apple

 2 min read

Economy
Saudi Crown Prince Mohammed bin Salman, right, meets with Senior Advisor to the U.S. President, Jared Kushner in Riyadh, Saudi Arabia, Tuesday, Sept. 1, 2020

Report: Saudi Arabia to invest in Israel through Kushner's fund

This will mark the first public business transaction between the countries

 2 min read

Economy
A currency exchange office worker counts Turkish Lira banknotes in front of the electronic panel displaying currency exchange rates at an exchange office in Istanbul, Turkey, August 6, 2020.

Official inflation rate in Turkey neared 70 percent in April

Economists say Turkey's problems are attributable to Erdogan's unconventional economic strategy

 2 min read

Economy
Turkey's President Recep Tayyip Erdogan speaks during a visit to the Dubai Expo 2020 in Dubai, United Arab Emirates, February 15, 2022.

Erdogan aims for investment in Turkey with Saudi Arabia trip

Experts believe that securing Saudi capital could help Turkey with its financial woes

 2 min read

Economy
View of the enhanced security barrier along the Israel-Gaza border, December 8, 2021.

Israel: Gaza border closure aims to up economic pressure on Hamas

'Firing rockets would lead into a very fast deterioration' in Gaza's economic situation

 3 min read

Economy
Visitors attend the closing ceremony of Expo 2020 in Dubai, the United Arab Emirates, on March 31, 2022.

MENA startups raise $864m in first quarter of 2022

Startups in the UAE lead the MENA region, claiming 27 percent of all deals closed in 2022 so far

 2 min read

Economy
Umm Younis, a woman shopping at a market in Iraq, speaks on April 5, 2022.

Ramadan shoppers face soaring prices at grocery stores

'Everything is expensive - meat is expensive, we will not buy it'

 2 min read

Economy
A visitor looks on as a representative of the Israel pavilion speaks at the Dubai Expo 2020 in the United Arab Emirates, on September 27, 2021.

Israel, UAE finalize free trade deal

'This milestone deal will cement one of the world’s most... promising emerging trading relationships'