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 Bahraini Minister of Tourism Fatima Al-Sairafi

Bahrain Records 50% Increase in Tourism Revenues

Bahraini Minister of Tourism Fatima Al-Sairafi said that her country has doubled its efforts to increase the tourism sector’s contribution to the national…

Asharq Al Awsat (Manama)
Business A general view of banks, hotels, office and residential buildings in the center of Cairo, Egypt, September 13, 2018. (Reuters)

Arab Labor Conference to Discuss Repercussions of Int’l Crises

The 49th Arab Labor Conference (ALC) will be held in Cairo on Monday and discuss the repercussions of international crises on the region. The conference…

Business Japan's Prime Minister Fumio Kishida (C) hosts a working session as part of the G7 Leaders' Summit in Hiroshima on May 20, 2023. (AFP)

G7 Leaders Agree to New Initiative to Fight Economic Coercion

Group of Seven leaders on Saturday agreed to a new initiative to counter economic coercion, and pledged action to ensure that any actors attempting to…

Business Aerial view of the Jordanian capital, Amman (Reuters)

IMF Calls Jordan a ‘Success Story’, Says Reforms Are Essential

Jordan has successfully maintained monetary and financial stability despite the difficulties, announced the International Monetary Fund (IMF). Jordan needs…

Asharq Al Awsat (Amman)
Business Saudi Arabia expands its electronic payment services market (Asharq Al-Awsat)

Saudi Arabia Expands E-Payments Market

Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP), announced that it has secured Saudi Arabia's Payment…

Business The Saudi Minister of Energy, Prince Abdulaziz bin Salman (Asharq Al-Awsat)

Saudi Energy Minister: Coordination with OPEC+ Boosts Market Stability

The Saudi Minister of Energy, Prince Abdulaziz bin Salman, has said that coordination with OPEC+ countries is the "cornerstone" of Saudi efforts to enhance the…

Asharq Al Awsat (Jeddah)
Business Ma’aden signed an agreement to supply 25,000 tons of blue ammonia to China's Shenghong Petrochemicals and the first shipment left on Thursday

Saudi Ma'aden Announces Export of 1st Shipments of Low-carbon Blue Ammonia to China

Saudi Arabian mining company Ma'aden has announced that it has exported its first shipments of low-carbon blue ammonia to China, according to a statement. …

Asharq Al Awsat (Riyadh)
Business Woman holds Turkish Lira banknotes in this illustration taken May 30, 2022. (Reuters)

Turkish Lira Weakens to Record Low against Dollar after Erdogan's Strong Election Showing

Türkiye’s lira weakened to a record low of 19.8050 against the dollar on Thursday, days after President Tayyip Erdogan surprised markets by leading in Türkiye…

Business Foreign and joint investments in the industrial sector have totaled more than 542 billion Saudi Riyals

Foreign, Joint Investments in Saudi Industrial Sector Surpass Half Trillion Saudi Riyals

Foreign and joint investments in the industrial sector have totaled more than 542 billion Saudi Riyals, constituting 37 percent of the sector’s total…

Asharq Al Awsat (Riyadh)
Business Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo

Oil Prices Dip with All Eyes on US Debt Talks

Oil prices dipped on Thursday as traders warily watched for signs of progress on talks to raise the US debt ceiling

Asharq Al Awsat (London)
Business  International football player Lionel Messi with his family during a vacation in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Ranks 2nd Globally as Fastest Growing Tourism Destination

A report issued by the World Tourism Organization (WTO) revealed that the number of visitors coming to the Kingdom increased by 64 percent during the first…

Bandar al-Mosalam (Riyadh)
Business Iraqi workers lay asphalt as a Al-Karada street is paved in Baghdad, Iraq May 12, 2023. REUTERS/Thaier Al-Sudani

EBRD Eyes Capital Boost, Expansion to Sub-Saharan Africa, Iraq

Shareholders of the European Bank for Reconstruction and Development have approved its expansion to sub-Saharan Africa and Iraq and will consider a proposal to…

Asharq Al Awsat (London )
Business A glimpse of NEOM Port, Saudi Arabia (Asharq Al-Awsat)

Companies Alliance Initiates Development of Saudi Arabia’s NEOM Port

In northern Saudi Arabia, a consortium comprising allied companies has embarked on the initial phase of the NEOM port area development. This endeavor…

Asharq Al Awsat (Tabuk)
Business A Saudi Aramco sign is pictured at an oil facility in Abqaiq, Saudi Arabia, Oct. 12, 2019. (Reuters Photo)

Saudi Arabia's Aramco Creates New Positions for Upstream, Downstream Businesses

Saudi Arabian oil giant Aramco on Thursday named Nasir Al-Naimi as president of its upstream business and Mohammed Al-Qahtani as president of its downstream…

Business GCC Economic Growth Expected to Reach 2.5% in 2023

GCC Economic Growth Expected to Reach 2.5% in 2023

The economies of the Gulf Cooperation Council (GCC) are projected to grow at a slower pace in 2023 compared to the previous year, in the face of lower oil and…

Business "Oxfam activists protesting and wearing masks of G7 leaders in "Trafalgar Square" in London (AP)

Oxfam: G7 Countries Owe Poor Countries $13.3 Trillion

A new analysis from Oxfam revealed that wealthy Group of Seven (G7) countries owe low- and middle-income countries $13.3 trillion in unpaid aid and funding…

Business  Digital transformations in the Kingdom have become a major driver for the sector. (Photo: Reuters)

TikTok Seeks to Support New Partnerships in Saudi Arabia

TikTok, whose users exceed a billion around the world, revealed its intention to establish more partnerships at the local and global levels, and work in Saudi…

Business Saudi Arabia’s Tourism Development Fund (TDF) announces the signing of a memorandum of understanding (MoU) with MINOR Hotels. (SPA)

Saudi Tourism Development Fund Announces Partnership with MINOR Hotels 

Saudi Arabia’s Tourism Development Fund (TDF) announced the signing of a memorandum of understanding (MoU) with MINOR Hotels, a hotel owner, operator, and…

Business Saudi Arabia ranks second globally as the fastest growing tourism destinatuion. (Royal Commission for AlUla)

Saudi Arabia Ranks 2nd Globally as Fastest Growing Tourism Destination 

Saudi Arabia ranked 13th globally, advancing 12 places on the World Tourism Organization (WTO) index, as one of the top countries receiving international…

Business People enjoy the view from the Galata Bridge, backdropped by the Suleymaniye Mosque, two days after the general elections, in Istanbul, Türkiye, 16 May 2023. (EPA)

Türkiye's Market Rout Deepens after Erdogan’s Strong Election Showing

Türkiye's market rout deepened on Tuesday amid investor expectations that President Recep Tayyip Erdogan will be able to extend his rule - and his unorthodox…

Business Saudi Finance Minister Mohammed Al-Jadaan participates in the Jeddah meetings on Monday. (Asharq Al-Awsat)

Saudi Finance Minister: World Crises Highlighted Importance of Arab Economic Integration

Saudi Finance Minister Mohammad Al-Jadaan said that successive world crises have underlined the importance of economic integration between Arab states and the…

Business King Abdullah Financial District in the Saudi capital, Riyadh. (Asharq Al-Awsat)

Saudi Arabia Outperforms Goals Outlined in Vision 2030

Saudi Arabia has outperformed some of the goals outlined in Vision 2030, such as female workforce participation which increased to 36 percent, ahead of the…

Business Unified Platform Connects Giant Projects, Forges Path for Future of Contracting in Saudi Arabia

Unified Platform Connects Giant Projects, Forges Path for Future of Contracting in Saudi Arabia

Saudi government agencies are preparing to reveal a unified platform featuring thousands of colossal development projects, collectively worth over one trillion…

Business The number of factories in Saudi Arabia soars by 50% following the launch of Vision 2030. (SPA)

Saudi Factories Make Significant Leap Towards Regional Leadership

Saudi Arabia’s industrial sector is undergoing significant transformation, heralded by numerous experts as a palpable result of recent legislations that have…