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 A Real Gem: In Bahrain, Only Natural Pearls Will Do

A Real Gem: In Bahrain, Only Natural Pearls Will Do

Customers at a Bahrain jewellery store study displays of pearls that are, unusually, 100 percent natural -- the result of attempts to preserve a centuries-old…

Asharq Al Awsat
Business French Prosecutors Accuse Lebanon Central Bank Chief of Hiding Fraud

French Prosecutors Accuse Lebanon Central Bank Chief of Hiding Fraud

French prosecutors have told Lebanon's central bank governor Riad Salameh they plan to press preliminary fraud and money laundering charges against him,…

Asharq Al Awsat
Business Peak Selling Season of Saudi Shemagh

Peak Selling Season of Saudi Shemagh

Experts in the manufacturing and import of the Saudi shemagh revealed that this traditional dress has reached the highest annual sales season, recording sales…

Business G7 Nations Considering Near-total Ban on Exports to Russia

G7 Nations Considering Near-total Ban on Exports to Russia

The Group of Seven (G7) countries are considering a near-total ban on exports to Russia, Kyodo news agency reported on Friday, citing Japanese government…

Asharq Al Awsat
Business Bahrain Hails IMF's Report on Kingdom's Unemployment Rate

Bahrain Hails IMF's Report on Kingdom's Unemployment Rate

Bahrain's Labor Minister Jamil bin Muhammad Ali Humaidan underscored the international community’s confidence in the Kingdom's public aimed at sustaining…

Asharq Al Awsat
Business Saudi Arabia Sends First Certified Low-carbon Ammonia to Japan

Saudi Arabia Sends First Certified Low-carbon Ammonia to Japan

A joint statement issued on Thursday announced the arrival of the first shipment of low-carbon ammonia from Saudi Arabia to Japan, for use as fuel in power…

Asharq Al Awsat (Dhahran)
Business Why Saudi Arabia Transfered 4% of Aramco Shares to PIF Subsidiary?

Why Saudi Arabia Transfered 4% of Aramco Shares to PIF Subsidiary?

Saudi Arabia's Crown Prince Mohammed bin Salman announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to Sanabil Investments, a subsidiary…

Business IMF: Private Sector Investments Will Drive Saudi Economic Growth

IMF: Private Sector Investments Will Drive Saudi Economic Growth

Saudi Arabia’s budget will achieve more financial revenues following a production cut announced by the Kingdom with OPEC and its allies, according to the…

Asharq Al Awsat (Riyadh)
Business Egytrans Approves NOSCO Acquisition Deal

Egytrans Approves NOSCO Acquisition Deal

Egytrans, a leading provider of transport and logistics solutions, approved a deal to acquire the National Transport and Overseas Services Company (NOSCO), one…

Asharq Al Awsat (Cairo)
Business UK Inflation, Highest in Western Europe, Falls Only a Little in March

UK Inflation, Highest in Western Europe, Falls Only a Little in March

Britain now has Western Europe's highest rate of consumer price inflation after it fell by less than expected in March to 10.1% in March from February's 10.4%,…

Asharq Al Awsat
Business 140 Production Leaders Explore NEOM's Ambition to Become Hub for Media Industries

140 Production Leaders Explore NEOM's Ambition to Become Hub for Media Industries

Saudi Arabia’s NEOM recently attracted 140 global leaders from across the TV and film industry to its showcase event. Its truly global offering of stages,…

Asharq Al Awsat (Neom)
Business G7 Coalition to Keep Russian Oil Price Cap at $60

G7 Coalition to Keep Russian Oil Price Cap at $60

The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices…

Asharq Al Awsat (Washington)
Business Fitch Upgrades Saudi Banks’ Rating

Fitch Upgrades Saudi Banks’ Rating

US credit rating agency Fitch has upgraded eight Saudi banks’ long-term issuer default ratings to “A-” from “BBB+,” with a stable outlook, according to a press…

Bandar al-Mosalam (Riyadh)
Business EU Investigates after 3 Countries Ban Ukraine Grain Imports

EU Investigates after 3 Countries Ban Ukraine Grain Imports

Slovakia became the third European Union country to ban food imports from Ukraine on Monday, deepening the challenge for the bloc as it works to help Ukraine…

Asharq Al Awsat
Business India, Russia Talk Free Trade Deal in Step-up of Relations

India, Russia Talk Free Trade Deal in Step-up of Relations

India and Russia are discussing a free trade agreement (FTA), the Russian trade minister said on Monday, an announcement that could deepen bilateral commercial…

Asharq Al Awsat
Business Oil Steady as Market Awaits China GDP Data

Oil Steady as Market Awaits China GDP Data

Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. Brent…

Asharq Al Awsat
Business Rouble Recovers Footing, Russian Stocks Hit over 1-Year High

Rouble Recovers Footing, Russian Stocks Hit over 1-Year High

The rouble bounced back from early losses on Monday, supported by expectations of month-end tax payments and higher oil prices, while Russia's main stock index…

Asharq Al Awsat
Business 'Fruitful' Discussions Between IMF, Egypt

'Fruitful' Discussions Between IMF, Egypt

The International Monetary Fund’s discussions with Egypt will continue virtually towards starting its first review mission, according to an IMF statement. …

Asharq Al Awsat
Business Preparations Underway to Establish Economic City on Iraqi-Jordanian Borders

Preparations Underway to Establish Economic City on Iraqi-Jordanian Borders

The Iraqi-Jordanian Company for Industry announced an open international tender to build a joint economic city on the border between the two countries. …

Asharq Al Awsat (Muscat)
Business Seoul, Riyadh Seek Cooperation in Startups, Biotechnology

Seoul, Riyadh Seek Cooperation in Startups, Biotechnology

Saudi Arabia and South Korea are working to develop a comprehensive strategic cooperation, especially in the field of petrochemicals, energy supply chains,…

Fatehelrahman Yousif (Riyadh)
Business Qatar’s Annual Inflation Increases

Qatar’s Annual Inflation Increases

The Consumer Price Index (CPI) in Qatar registered a 4.01% annual increase in March, compared to the CPI of March 2022, reaching 105.55 points. On monthly…

Asharq Al Awsat (Doha)
Business China’s Economy Expected to Rebound as Zero-Covid Era Fades

China’s Economy Expected to Rebound as Zero-Covid Era Fades

China is expected to announce an economic rebound on Tuesday, when Beijing releases its first quarterly GDP figures since abolishing growth-sapping Covid…

Asharq Al Awsat
Business Saudi Crown Prince Announces Completion of 4% of Aramco Shares Transfer to Sanabil Investments

Saudi Crown Prince Announces Completion of 4% of Aramco Shares Transfer to Sanabil Investments

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister announced on Sunday the completion of the transfer of 4% of Saudi Aramco's…

Asharq Al Awsat
Business Egypt Begins Offering Corn on Commodities Exchange

Egypt Begins Offering Corn on Commodities Exchange

Egypt's state grains buyer started offering yellow corn on the country's newly-launched commodities exchange on Thursday, exchange head Ibrahim Ashmawy said in…

Asharq Al Awsat