Iraq has lost tens of billions of dollars in revenue since the Iran war began in late February, after the closure of the Strait of Hormuz slashed oil exports, according to an aide to the country’s leader. Several development projects in Opec’s second-largest oil exporter have stalled because of the …

For decades Gulf money has poured into luxury property markets, trophy assets and the world’s best-known financial centres. But increasingly it is heading to a former Silk Road hub, where ageing gas infrastructure, a rapidly growing population and economic reforms offer the opportunity to invest in a new energy system. …

The number of vessels moving between Iran and the UAE has returned to pre-war levels after shipping resumed across the Arabian Gulf. Data from research company Kpler shows that 51 container ships made the crossing in the 29-day period between June 27 and July 25, five times as many as …