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 WFP, UNEP Boost Global Food and Water Security

WFP, UNEP Boost Global Food and Water Security

The UN World Food Program (WFP) and the UN Environment Program (UNEP) signed an agreement in Nairobi on Friday to tackle the devastating impacts of the climate…

Business Flydubai Expands Network to New Destinations in Poland

Flydubai Expands Network to New Destinations in Poland

Flydubai, the Dubai-based carrier, announced the launch of flights to Poznan in Poland from 29th October, becoming the first UAE carrier to operate direct…

Business Minister of Industry and Mineral Resources during a round table meeting in Bern (Asharq Al-Awsat)

Geneva, Riyadh Seek to Encourage Joint Investment in Mining

Saudi Arabia and Switzerland are seeking to increase economic cooperation and joint investments in the mining sector. In this context, Swiss Ambassador to…

Fatehelrahman Yousif (Riyadh)
Business Ninety One Appoints Dr. Khalid Alsweilem as Chairman of New Saudi Arabian Entity

Ninety One Appoints Dr. Khalid Alsweilem as Chairman of New Saudi Arabian Entity

Ninety One announced the appointment of Dr. Khalid Alsweilem to the position of Chief Global Sovereign Funds Advisor

Business The Saudi Energy Minister during his meeting with a number of German officials (Asharq Al-Awsat)

Saudi Arabia Sets Regulations to Encourage Investment in Gas Distribution

The Saudi government issued on Thursday the implementing regulations and service provision guide for the law on the distribution of dry gas and liquified…

Asharq Al Awsat (Riyadh)
Business Saudi Airports Traffic Sees 11.5 Million Travelers During Ramadan, Eid Al-Fitr

Saudi Airports Traffic Sees 11.5 Million Travelers During Ramadan, Eid Al-Fitr

More than 11.5 million passengers traveled from and to the Kingdom of Saudi Arabia’s airports during Ramadan and Eid Al-Fitr holiday for 2023, up by 25 percent…

Business Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef during a round-table meeting in the Swiss capital, Bern. (SPA)

Saudi-Swiss Officials Meet in Bern to Promote Industrial Cooperation

A meeting between Saudi and Swiss officials was held on Thursday in the capital Berne where talks focused on promoting cooperation between the two countries at…

Business Sudan Conflict Deals New Blow to Stagnant Economy

Sudan Conflict Deals New Blow to Stagnant Economy

The conflict shaking Sudan has dealt a crippling blow to the heart of the country's economy in the capital Khartoum, as well as disrupting internal trade…

Asharq Al Awsat
Business IMF: Gov. Strategy Helped the Saudi Economy

IMF: Gov. Strategy Helped the Saudi Economy

The International Monetary Fund (IMF) confirmed that government-led reforms and private investment growth in new sectors would help support non-oil economic…

Asharq Al Awsat (Riyadh)
Business Egypt Raises Diesel Prices, Keeps Gasoline Unchanged

Egypt Raises Diesel Prices, Keeps Gasoline Unchanged

Egypt's fuel pricing committee raised its diesel prices by EGP 1 to EGP 8.25 ($0.2666) per liter but kept gasoline prices unchanged, Egypt's petroleum ministry…

Asharq Al Awsat (Cairo)
Business Saudi Arabia Examines Mechanisms of Technical Services Pricing

Saudi Arabia Examines Mechanisms of Technical Services Pricing

The Saudi government is currently examining the legal tools by which fees are imposed for services provided by technology companies for the benefit of…

Bandar al-Mosalam (Riyadh)
Business Riyadh Conference Stresses Solid Foundations in Building Digital Economy

Riyadh Conference Stresses Solid Foundations in Building Digital Economy

The Global Asset Allocation Conference underlined on Tuesday the importance of new rules and patterns to strengthen the digital economy. The conference was…

Bandar al-Mosalam (Riyadh)
Business Gulf Cities: Global Destinations at Arabian Travel Market

Gulf Cities: Global Destinations at Arabian Travel Market

The countries of the Gulf Cooperation Council (GCC) showcased their touristic highlights, including culture, heritage and natural diversity, at the Arabian…

Mosaed al-Zayani (Dubai)
Business Turkish Inflation Slows to 43.7% in April Ahead of Elections

Turkish Inflation Slows to 43.7% in April Ahead of Elections

Turkish annual consumer price inflation slowed to 43.68% in April, official data showed on Wednesday, slightly below forecast, easing further ahead of…

Asharq Al Awsat
Business Saudi Minister of Industry Announces 50 Investment Opportunities in Machinery, Equipment Sector

Saudi Minister of Industry Announces 50 Investment Opportunities in Machinery, Equipment Sector

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef announced that the industry and mining sector is working with relevant…

Asharq Al Awsat
Business Egypt Hikes Prices of Subsidized Goods, Bread Unchanged

Egypt Hikes Prices of Subsidized Goods, Bread Unchanged

The Egyptian government has raised the prices of most of the subsidized goods sold to more than half the population starting from Monday. According to a…

Asharq Al Awsat (Cairo)
Business IMF Raises Asia’s Economic Forecast on China Recovery, Warns of Risks

IMF Raises Asia’s Economic Forecast on China Recovery, Warns of Risks

The International Monetary Fund (IMF) raised Asia's economic forecast on Tuesday as China's recovery underpinned growth, but warned of risks from persistent…

Asharq Al Awsat
Business Agreement Signed to Establish Saudi Arabia’s 1st Integrated Steel Plate Manufacturing Complex

Agreement Signed to Establish Saudi Arabia’s 1st Integrated Steel Plate Manufacturing Complex

Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, Baoshan Iron & Steel Co., Ltd. (Baosteel), the world’s leading steel…

Asharq Al Awsat
Business Egypt Prequalifies 17 Consortia for its Water Desalination Program

Egypt Prequalifies 17 Consortia for its Water Desalination Program

Egypt has prequalified 17 consortia for the tendering process for the development of a number of sea water desalination plants, according to a statement…

Asharq Al Awsat
Business From Caviar to Cardboard Cutouts, Businesses Hope for Coronation Boost

From Caviar to Cardboard Cutouts, Businesses Hope for Coronation Boost

Businesses are seeking to entice royal fans with a slew of products marking the coronation of Britain's new monarch. Mugs, plates, tea towels, magnets,…

Asharq Al Awsat
Business Saudi Arabia Explores Financing New Type for Logistics Sector

Saudi Arabia Explores Financing New Type for Logistics Sector

Saudi Arabia is currently conducting a technical study to provide public companies in the logistics services sector with new funding for “build to suit”…

Bandar al-Mosalam (Riyadh)
Business Saudi CMA Waives Sukuk, Bonds Trading Commission to Develop Market

Saudi CMA Waives Sukuk, Bonds Trading Commission to Develop Market

Saudi Arabia’s Capital Market Authority (CMA) on Sunday announced waiving its share in sukuk and bonds trading commission starting from May 2023. This…

Asharq Al Awsat (Riyadh)
Business Dhaman: Arab Countries See 44% Increase in Trade, Investment Insurance Operations

Dhaman: Arab Countries See 44% Increase in Trade, Investment Insurance Operations

The Arab Investment & Export Credit Guarantee Corporation (Dhaman) said that the total value of intra-Arab trade, finance and investment insurance services…

Sabri Najeh (Cairo)
Business Saudi Arabia Makes Great Strides in Global Logistics Services

Saudi Arabia Makes Great Strides in Global Logistics Services

Saudi Arabia has jumped 17 ranks in the World Bank’ Logistics Performance Index (LPI) 2023, which allows it to attract more investments, and increase the…

Bandar al-Mosalam (Riyadh)