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Economy & Business

Gantry cranes are seen behind signage for ports operator DP World at an entrance to the Port Botany compound in Sydney on Nov. 13, 2023.

UAE port operator DP World's profits fall 60% amid Yemen's Houthi Red Sea attacks

The Dubai-based logistics firm reported $265 million in profit for the first half of 2024 ending June 30, down from $651 million the same time last year.

United Arab Emirates

OMAR AL-QATTAA/AFP via Getty Images

Analysis

Pessimism prevails as Gaza cease-fire talks resume in Doha

Negotiators are meeting in Doha for what the Biden administration has described as “final stage” Gaza cease-fire talks. But with Hamas refusing to participate and Israel driving a hard bargain, is there any reason for optimism?

Elizabeth Hagedorn

By Elizabeth Hagedorn

In Washington, DC, reporting on diplomacy, regional politics, human rights

Co-founder and Ceo of Starz Play Maaz Sheikh poses in his office in Dubai on April 23, 2019. Streaming services in the Middle East are competing for Arab audiences with US giant Netflix set to release its first Arabic production in June, chasing a slice of a potentially lucrative market. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Netflix in crosshairs as Middle East streaming competition mounts

Samuel Wendel

In Washington, DC, reporting on regional business and tech

STEPHANE DE SAKUTIN/AFP via Getty Images

Air France to resume Beirut flights as Lufthansa, Ryanair extend suspensions

The escalating conflict between Israel and Iran has international airlines suspending flights to cities across the Middle East.

Latest News

Israel’s Elbit Systems sees Q2 revenues rise by 12% amid Gaza war sales

JACK GUEZ/AFP via Getty Images

Interview

Nomo Bank sees increasing appetite for Islamic investments, ETFs

A man walks out of Bank Station, in The City financial district, in central London, on June 12, 2024. (Photo by BENJAMIN CREMEL / AFP) (Photo by BENJAMIN CREMEL/AFP via Getty Images)

Paul Szumilewicz

With Paul Szumilewicz

Nomo Bank Chief Revenue Officer

Israel's Netanyahu shakes off credit downgrade as deficit grows

OREN ZIV/AFP via Getty Images

Oil markets take wait-and-see approach amid Israel-Iran tensions

GIUSEPPE CACACE/AFP via Getty Images

Sebastian Castelier

By Sebastian Castelier

In Dubai, reporting on regional business

Analysis

Will Saudis’ $1.5B cash infusion help Lucid compete with Tesla?

A picture taken on July 14, 2022, ahead of a visit by the United States president to Saudi Arabia, shows hostesses in a car manufactured by US electric vehicle maker Lucid Group.

Adam Lucente

By Adam Lucente , Jack Dutton

Jack Dutton

Chief Business Correspondent

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

Adam Lucente

News and Business Correspondent

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

Jennifer Gnana

Gulf Correspondent

In Dubai, reporting on Gulf energy policy and politics

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Sabena Siddiqui

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

Sebastian Castelier

In Dubai, reporting on regional business

After 20 years, is Iraq making progress in bid to join WTO?

Iraq first applied to join the WTO in 2004, but it made no considerable progress in the accession until its recent efforts to unify tariff and customs regulations between the federal and Kurdistan Region governments.

In this picture taken on May 10, 2023, people attend the UAE Climate Tech Forum in Abu Dhabi. Faced with mounting pressure over planet-heating pollution, the Arab Gulf's energy giants are turning to humble tech start-ups as they search for ways to remove emissions while keeping oil flowing. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Tech investment slump reaching critical stage for cash strapped Middle East startups

Samuel Wendel

In Washington, DC, reporting on regional business and tech

AHMAD AL-RUBAYE/AFP via Getty Images

Iraq-China ties progress with Nasiriyah airport project

Relations between Iraq and China are strengthening, in part due to Chinese interest in Iraqi oil and infrastructure projects.

Google reportedly offers $23B for Israeli cybersecurity firm Wiz

Israel's Wiz is one of the world’s fastest-growing startups, having reached $350 million annual recurring revenue last year, and provides services to more than 40% of Fortune 100 businesses.

Newly elected Iranian President Masoud Pezeshkian speaks during a visit to the shrine of the Islamic Republic's founder, Ayatollah Ruhollah Khomeini, on July 6, 2024, in Tehran, Iran.

Analysis

Will Iran join global financial watchdog FATF under Pezeshkian?

Pezeshkian has promised better days for Iran, but will he revive the once-thwarted negotiations required to make change happen?

Ali Dadpay

TOPSHOT - A deliveryman balances a tray of freshly baked bread while riding his bicycle along the al-Darb al-Ahmar district in the old quarters of Cairo on March 6, 2024. (Photo by Amir MAKAR / AFP) (Photo by AMIR MAKAR/AFP via Getty Images)

Can Egypt's new cabinet overcome public skepticism, economic discontent?

The new cabinet in Egypt is expected to address the country’s economic woes, although some analysts doubt its ability to do so.

YASIN AKGUL/AFP via Getty Images

Turkey has lost export competitiveness, won't meet annual goal: Official

Turkish Exporters Assembly Chairman Mustafa Gultepe said that Turkish exports would likely be between $264-267 billion for 2024.

An Airbus A330 of Saudi airline company, also known as Saudi Arabian Airlines, lands in Toulouse, on July 22, 2017.

As Boeing struggles, Airbus inks 4-aircraft deal with Saudi Arabia

The kingdom ordered four more of Airbus’ A330 Multi Role Tanker Transport aircraft for the Royal Saudi Air Force as Boeing's challenges mount in Gulf over safety issues.

Women queue to fill containers with water from a private irrigation well provided by a farmer in Sbikha town, which has been having drinking water problems for years, near Tunisia's central city of Kairouan on June 25, 2024. Like its neighbour Algeria and large areas of the Mediterranean region, Tunisia suffers from "alert drought conditions", according to the European Drought Observatory. (Photo by FETHI BELAID / AFP) (Photo by FETHI BELAID/AFP via Getty Images)

Algeria’s desalination ambitions to come with heavy financial burden

Francisco Serrano

In Lisbon, reporting on North Africa business

A BYD Ocean-M electric car is displayed at the Beijing Auto Show in Beijing on April 25, 2024.

China's BYD, world's biggest EV maker, invests $1B in Turkish plant

In a post on the social media platform X on Monday, Turkey’s Vice President Cevdet Yilmaz confirmed that BYD is expected to begin production of vehicles in the new factory at the end of 2026 and that the facility will provide around 5,000 direct jobs.

Saudi and foreign journalists are pictured at the Future Investment Initiative forum at the King Abdulaziz Conference Center in Saudi Arabia's capital Riyadh on Oct. 29, 2019.

Middle East startups see funding fall by 34% in first half of 2024

Although startup funding levels have plateaued globally, MENA reported an increase in early-stage rounds and investor participation.

United Arab Emirates

People walk past a currency exchange shop displaying a giant US dollars banknote in downtown Cairo on November 3, 2016. Egypt floated the country's pound as part of a raft of reforms, after a dollar crunch and exorbitant black market trade threatened to grind some imports to a halt. / AFP / KHALED DESOUKI (Photo credit should read KHALED DESOUKI/AFP via Getty Images)

Egypt’s remittances reach $2.7 billion in boost to foreign reserves

Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues.