International trade began to develop in the Near East around 3500 BC. By the second millennium BC the city-states of Sumer, Assyria and Babylon lay at the centre of a network of trade in copper, tin, silver, foodstuffs and textiles that stretched from Egypt and Crete to the Indus River Valley and Afghanistan. ...
State-supported but family-owned and managed firms headquartered in the Old Assyrian capital of Ashur opened subsidiary trading and manufacturing offices in Babylon, Syria, other parts of northern Iraq, and, most importantly, the city of Kanesh in Cappadocia, from which a number of smaller offices in Anatolia (modern Turkey) were managed. Similar multinational firms, on a smaller scale, were found in Babylonia under Hammurabi and, later, the Kassite kings who set up subsidiary trading offices on Bahrain in the Arabian Gulf.
Virtually all of the second-millennium and even early first-millennium BC business cultures of the ancient Near East were mixed economies. Private landholdings, markets and private, usually family-owned, firms operated in close harmony with royal and temple enterprises. Phoenicia was no exception. ...
In ancient Phoenicia private commerce and the temple-state were partners whose functions and roles overlapped and interlocked. A pyramid structure with the Prince of Ugarit, Byblos, or Tyre and the high priest of the city's patron deity at the top, followed by the bureaucracy led by the vizier and his harbourmaster, then the landed nobles and the major merchant-princes, known as mkrm, and their firms, followed by the lesser firms or bidaluma, craft guilds, peasants, serfs and slaves. Private and public executive roles were never sharply defined. Commerce in the city-states was dominated by an assembly of private and royal merchant princes. In Phoenicia, as in Babylonia, and even modern Britain, merchants could enter the aristocracy and aristocrats could take up commerce. ...
At its peak, Phoenician businessmen directed intercontinental enterprises trading in silver from Spain, tin from Britain, ivory from Africa, copper from Cyprus, iron from Syria, and textiles and manufactured goods from all over the Mediterranean. Their investments reached from the Atlantic to the Assyrian Empire. ...
Having established their own lucrative firms by the year 1000 BC, the merchants of Tyre rapidly began to outdistance all other Phoenician traders. Placed on an offshore island with a well-protected harbour, Tyre was naturally endowed for long-distance maritime trade. ...
In the period between 1000 and 500 BC, the merchants of Tyre achieved dominance in, if not control over, international trade in the Near East, the Mediterranean, and, for a time, even the Indian Ocean and its tributaries ...
The climactic Intercontinental-Multinational Phase, 840-538 BC, of Tyrian trade and investment expansion began on the heels of Jehu's revolt and culminated in the period of the Neo-Assyrian Empire in the eighth and seventh centuries BC. Phoenician investment not only flowed into Assyria and Babylonia but even reached across the central and western Mediterranean to North Africa and the Atlantic coast of Spain. The rise of Assyria was the major catalyst of the new Phoenician strategy.
In the days of Itobaal, the armies of Ashurnasirpal II and Shalmaneser III marched westward across the Euphrates, exacting tribute from terrified Phoenician rulers. The Assyrian presence became much more immediate after 733 BC when the armies of Tiglath-Pileser III, Shalmaneser V, Sargon II and Sennacherib conquered Syria and Israel. Assyrian influence over Phoenicia reached its peak under Esarhaddon (680-69 BC). Mainland Phoenicia was divided into three Assyrian provinces called Simya, Sidon and Ushu, and many of the inhabitants were deported. Tyre kept her independence, but only under the harsh terms of a vassal treaty dictated by Esarhaddon to the Tyrian Prince Ba'alu. ...
Assyria's efforts to monopolise Tyre's trade with the rest of Asia, ironically, permitted Phoenician commerce to seduce even the might of Nineveh. Assyria's landlocked kings left their western trade in the hands of the people who knew and managed it best, be they settlers or deportees. A firm run by the Sidonian Hanunu became chief supplier of the Empire's dyed fabrics; Oubasti, exiled to Nineveh by Sennacherib as a youth, became the city's chief porter. The eastern network of merchants, organised in the time of Itobaal, in Cilicia, Aleppo, Carchemish and now even Nineveh and Babylon continued to ship goods to and from points west, leaving them in the hands of Phoenician companies, their partners and subsidiaries.