Business

Iraq Oil Output Exceeds 5 million bpd

Business Majnoon oil field near the Iraqi city of Basra (Reuters)

Iraq Oil Output Exceeds 5 million bpd

Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday. According to Reuters, Iraq…

Asharq Al Awsat
Business IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International…

Asharq Al Awsat
Business A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World Food Prices Dip in October, but Remain Higher Than a Year Ago

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6%…

Business Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)

Copper Falls, Set for Worst Week Since March on AI Rout

Copper dropped on Friday and was set for its biggest weekly drop in London since March, as a rout in technology stocks battered markets. Benchmark three…

Asharq Al Awsat
Business Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)

Emerging Economies Set to Match Advanced Nations’ Renewable Capacity Additions, IEA Says

Emerging ‌and developing economies outside China are expected to add as much new renewable energy capacity as advanced economies for the first time over…


Business AACC's new LDG repair capability aligns with main objectives of Saudi Arabia's Vision 2030 through building a robust local MRO capability - (Asharq Al-Awsat)

AACC to Launch New Rotary Landing Gears Repair Capability

Aircraft Accessories & Components Company (AACC), a leading military maintenance, repair, and overhaul (MRO) service provider and a subsidiary of SAMI under…

Asharq Al Awsat
Business Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah - SPA

Saudi Arabia Allocates $7.8 Billion for Riyadh Expo 2030

The Saudi delegation presented the Kingdom’s candidacy proposal to host Expo 2030 in Riyadh to Bureau International des Expositions (BIE) members at the…

Asharq Al Awsat
Business flynas has firmed up an order with Airbus for 30 new A320neo Family aircraft. (Asharq Al-Awsat)

Saudi Arabia's flynas Purchases 30 New Airbus Aircraft

The Saudi air carrier and a leading low-cost airline in the Middle East, flynas, has firmed up an order with Airbus for 30 new A320neo Family aircraft, taking…

Business The Tourism Pioneers Studio program is in line with Saudi Arabia's plan to develop its tourism sector. (Ministry of Tourism)

Saudi Arabia Supports Emerging Establishments to Develop Tourism Sector

The Saudi Ministry of Tourism concluded a specialized program to support ten startup companies as part of its plan to achieve the goals of the National Tourism…

Asharq Al Awsat (Riyadh)
Business French President Emmanuel Macron receives Saudi Crown Prince Mohammed bin Salman at the Elysee Palace in the capital city of Paris last Friday (AP)

Saudi-French Investment Forum: A Bridge for Promising New Partnerships

The Saudi-French Investment Forum, held in Paris, has successfully generated immense interest and extraordinary participation from both Saudi and French…

Michel Abou Najm (Paris)
Business The Ras Tanura port. (Aramco)

Saudi Oil Exports Record 5-Month Low in April

The Joint Organizations Data Initiative (JODI) data showed Monday that Saudi Arabia's crude oil exports fell in April to their lowest level in five months. …

Asharq Al Awsat (Riyadh)
Business The King Abdullah Financial District (KAFD) in Riyadh. (Asharq Al-Awast)

Private Sector Investment in Saudi Economy Jumps 104%

Non-governmental private sector investments in Saudi Arabia’s GDP for the past year increased 22 percent to reach $242 billion. Compared to 2016, investments…

Bandar al-Mosalam (Riyadh)
Business A worker performs checks at Türkiye's Mediterranean port of Ceyhan, February 19, 2014. REUTERS/Umit Bektas

More Talks Needed to Resume Iraq's Northern Oil Exports

Further talks will be needed in order to resume Iraq's northern oil exports, two officials told Reuters today following a meeting between a Turkish energy…

Asharq Al Awsat
Business The Saudi economy is witnessing rapid growth due to recent government initiatives (Asharq Al-Awsat)

Saudi Nominal Economy Surpasses $1 Tn for First Time

A recent report revealed that the Saudi economy has greatly surpassed challenging global conditions over the past three years, starting from the coronavirus…

Asharq Al Awsat (Riyadh)
Business Sheikh Mohammed bin Rashid Al-Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, inaugurates the 900 megawatt (MW) fifth phase of the Mohammed bin Rashid Al-Maktoum Solar Park (WAM)

Dubai Adds 900 MW of Clean Energy to 270,000 Residences

Dubai on Sunday inaugurated the 900 megawatt (MW) fifth phase of the Mohammed bin Rashid Al-Maktoum Solar Park, one of the world's largest renewable projects…

Asharq Al Awsat (Dubai )
Business Vehicles drive on a road next to the construction site of the Iconic Tower skyscraper in the Central Business District (CBD), which is being built by China State Construction Engineering Corp (CSCEC) in the New Administrative Capital (NAC) east of Cairo, Egypt January 15, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

World Bank’s IFC to Help Egypt Monetize State Assets

The International Finance Corporation (IFC) said on Sunday it would act as the strategic advisor for Egypt's plans to boost the role of the private sector in…

Asharq Al Awsat
Business Fires flare off the gas from in Kirkuk, Iraq, Wednesday, Oct. 18, 2017. (The Associated Press)

Iraq Invites Foreign Bids for 11 Gas Blocks in New Areas

Iraq on Sunday invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks as the OPEC member seeks to produce…

Asharq Al Awsat
Business General view of the skyline of La Defense business district from Paris, France, October 12, 2016. REUTERS/Charles Platiau

Saudi, French Officials to Discuss Major Investment Opportunities

Saudi Arabia’s Minister of Investment Eng. Khalid Al-Falih will participate in the Saudi-French Investment Forum in Paris on Monday. The forum brings…

Asharq Al Awsat (Riyadh)
Business Israeli Prime Minister Benjamin Netanyahu chairs a cabinet meeting at the prime minister's office in Jerusalem, Sunday, June 18, 2023. (AP Photo/Ohad Zwigenberg, Pool)

Netanyahu: Intel to Build $25 Bln Factory in Largest Foreign Investment in Israel

Intel Corp will build a new factory in Israel worth $25 billion, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international…

Asharq Al Awsat
Business Photo of a recent real estate exhibition in Riyadh (Asharq Al-Awsat)

Knight Dragon Vice-President: Saudi Real Estate Market to Become Fastest Growing in the World

Knight Dragon Real Estate Development Company has revealed plans to launch its business in Saudi Arabia by opening an office in Riyadh, during the last quarter…

Asharq Al Awsat (Dubai)
Business A Boeing Dreamlifter sits on the tarmac at their campus in North Charleston, South Carolina, US, May 30, 2023. Gavin McIntyre/Pool via REUTERS/File Photo

Boeing Boosts 20 Year Outlook for Planes on Narrowbody Demand

US planemaker Boeing (BA.N) slightly raised its annual 20-year forecast for new jetliner deliveries, propelled by the strength of the narrowbody market fueled…

Asharq Al Awsat
Business Elon Musk, the CEO of Tesla Inc. - The AP

Musk: Poor to Pay Price for Biden's Call For More Taxes on Rich

Elon Musk, the CEO of Tesla Inc., said that President Joe Biden's proposal to impose higher taxes on extremely affluent Americans will only affect lower-to…

Asharq Al Awsat
Business Saudi Energy Minister Prince Abdulaziz bin Salman at the 60th anniversary of OPEC in Baghdad (Asharq Al-Awsat)

Saudi Energy Minister: OPEC, OPEC+ Seek Market Stability

Saudi Energy Minister Prince Abdulaziz bin Salman said that OPEC and OPEC+ seek to balance oil markets to ensure energy security. The consensus is the main…

Hamza Mustafa (Baghdad)
Business SAL facilities in Jeddah (Asharq AL-Awsat)

Head of SAL to Asharq Al-Awsat: We Invest $399 Mn in Infrastructure

The Saudi Logistics Services (SAL) allocated $399 million worth of investments to implement a series of infrastructure projects by the end of 2027, announced…

Saeed Al Abyad (Jeddah )
Business Prince Abdulaziz bin Salman, Saudi Minister of Energy, Suhail Al-Mazrouei, UAE Minister of Energy, and a number of OPEC energy ministers (WAM)

UAE Energy Minister: OPEC’s Role is Key in Stabilizing Global Oil Market

UAE Energy Minister Suhail Al-Mazrouei stressed on Saturday the significant and pivotal role played by OPEC and the OPEC Plus alliance to serve the interests…

Asharq Al Awsat (Abu Dhabi )
Business The Chairman of the Saudi French Business Council at MEDEF, Laurent Germain (Asharq Al-Awsat)

Saudi Arabia, France to Increase Cooperation in Technology, Energy, Industry

Saudi Crown Prince Mohammed bin Salman's visit to France reflects the desire of both countries to enhance comprehensive cooperation, underlining the strong…

Asharq Al Awsat
Business Prices for fruit, vegetables and daily products are continuing to rise, curbing demand, says FAO - File Photo

UN: Poorer Nations to Cut Food Imports as Prices Rise

High food prices will prompt poorer nations to cut back on food imports this year, the UN's Food and Agriculture Organization said Thursday. Global…

Asharq Al Awsat
Business US Deputy Treasury Secretary Wally Adeyemo - Reuters

US Treasury: Russian Oil Revenues Down Nearly 50% On Price Cap

Russian government oil revenues plunged nearly 50 percent in the first five months this year, US Deputy Treasury Secretary Wally Adeyemo said Thursday, six…

Asharq Al Awsat
Business The company’s participation at the Future Investment Initiative in the Saudi capital Riyadh in October. (Asharq Al-Awsat) 

Sale of 2.2 Mln Tons of Carbon Credits in Global Auction

The Regional Voluntary Carbon Market Company (RVCMC) announced Thursday the successful auction of over 2.2 million tons of carbon credits in the largest-ever…

Asharq Al Awsat (Riyadh)