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 Saudi Arabia Ranks First in Arab World, 20th Globally, in Emissions Reduction

Saudi Arabia Ranks First in Arab World, 20th Globally, in Emissions Reduction

Two years after the launch of the Saudi Green Initiative, Saudi Arabia reached the top position among Arab countries and the twentieth globally, in carbon…

Asharq Al Awsat (Riyadh)
Business UAE Plans to Double Re-Exports by 2030

UAE Plans to Double Re-Exports by 2030

The UAE approved 24 national initiatives seeking to double its re-export by 100 percent within the seven coming years through benefiting from the 50 commercial…

Asharq Al Awsat (Abu Dahbi )
Business Iraqi Kurdistan Region’s Oil Output at Risk after Türkiye Halts Pipeline Exports

Iraqi Kurdistan Region’s Oil Output at Risk after Türkiye Halts Pipeline Exports

Oil production in Iraq's semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to cease output or…

Asharq Al Awsat
Business Egypt Announces Measures to Boost Tourism

Egypt Announces Measures to Boost Tourism

As part of an endeavor to boost tourism and secure 30 million visitors annually, Egypt announced on Monday certain measures under the emergency visa system. …

Fathiya al-Dakhakhni (Cairo)
Business GFH Approves 6% Cash Dividends

GFH Approves 6% Cash Dividends

The GFH Financial Group (“GFH” or “the Group”) announced the successful conclusion of its Annual General Meeting (AGM) by approving the Board of Directors’…

Asharq Al Awsat (Dubai)
Business Aramco, Partners to Construct Major Refinery, Petrochemical Complex in China

Aramco, Partners to Construct Major Refinery, Petrochemical Complex in China

Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start constructing a major integrated refinery and petrochemical…

Asharq Al Awsat (Riyadh)
Business Egypt, UAE, Jordan, Bahrain Discuss Producing First Arab Electric Vehicle

Egypt, UAE, Jordan, Bahrain Discuss Producing First Arab Electric Vehicle

Egypt, the United Arab Emirates, Jordan, and Bahrain discussed the localization of the technology of producing electric cars with local components from…

Asharq Al Awsat (Cairo)
Business Oil Markets Steady as Investors Weigh Banking Crisis, Russia

Oil Markets Steady as Investors Weigh Banking Crisis, Russia

Oil prices stabilized in Asian trade on Monday as investors sought cues from broader financial markets, while comments by Russian President Vladimir Putin over…

Asharq Al Awsat
Business Iraq-Türkiye Pipeline Shutdown on Turkish Government Orders

Iraq-Türkiye Pipeline Shutdown on Turkish Government Orders

The Kurdistan Pipeline Company has shut the Iraq-Türkiye pipeline at the request of the Turkish government, oil companies in the regions said on Monday. …

Asharq Al Awsat
Business Standard Chartered Agrees to Sell Business in Jordan

Standard Chartered Agrees to Sell Business in Jordan

Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), the two parties said on Sunday, as Standard Chartered presses…

Asharq Al Awsat (London)
Business Israel, UAE Sign Free Trade Pact into Effect

Israel, UAE Sign Free Trade Pact into Effect

Israel and the United Arab Emirates on Sunday signed a free trade pact into effect, reducing or removing tariffs on about 96% of goods traded between the…

Asharq Al Awsat
Business Oman Offers 3 Oil and Gas Concession Areas for Local and Int’l Companies

Oman Offers 3 Oil and Gas Concession Areas for Local and Int’l Companies

Oman is offering three oil and gas concession areas for local and international local companies, a statement for the ministry of energy and minerals said on…

Asharq Al Awsat
Business Aramco JV HAPCO to Commence Construction of Major Refinery, Petrochemical Complex in China

Aramco JV HAPCO to Commence Construction of Major Refinery, Petrochemical Complex in China

Saudi Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start construction of a major integrated refinery and…

Asharq Al Awsat
Business Saudi Housing Sector Fundraising Campaign Recreates IPO Model

Saudi Housing Sector Fundraising Campaign Recreates IPO Model

Saudi Arabia’s crowdfunding platform for home ownership Jood Eskan has launched a first-of-a-kind charitable campaign to raise SAR1 billion ($266 million) in…

Business Iraq Halts Northern Crude Exports after Winning Arbitration Case against Türkiye

Iraq Halts Northern Crude Exports after Winning Arbitration Case against Türkiye

Iraq halted crude exports from the semi-autonomous Kurdistan region and northern Kirkuk fields on Saturday, an oil official told Reuters, after the country won…

Asharq Al Awsat
Business Official: Foundation of China's Economic Recovery not Solid Enough

Official: Foundation of China's Economic Recovery not Solid Enough

The foundation of China's economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from…

Asharq Al Awsat
Business EU Leaders Grapple with Bank Risks as Economy Weakens

EU Leaders Grapple with Bank Risks as Economy Weakens

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even…

Asharq Al Awsat
Business Saudi Arabia Allocates Sand, Landfill Site for Mining Activities

Saudi Arabia Allocates Sand, Landfill Site for Mining Activities

The Saudi Ministry of Industry and Mineral Resources said on Thursday it will allocate the sand and landfill site in the Khulais Governorate, west of the…

Asharq Al Awsat (Riyadh)
Business Moody's Changes Saudi PIF's Outlook to Positive

Moody's Changes Saudi PIF's Outlook to Positive

Moody's has changed its outlook on Saudi Arabia’s Public Investment Fund (PIF) from "stable" to "positive" and affirmed its long-term issuer and senior…

Asharq Al Awsat (Riyadh)
Business IMF Says Preparing for 1st Review of Egypt Program

IMF Says Preparing for 1st Review of Egypt Program

Preparations for the first review of Egypt's economic reform program with the International Monetary Fund have begun and dates for the review mission will be…

Asharq Al Awsat
Business IMF: Lebanon is in 'Very Dangerous Situation'

IMF: Lebanon is in 'Very Dangerous Situation'

The International Monetary Fund warned on Thursday that Lebanon was in a very dangerous situation a year after it committed to reforms it has failed to…

Asharq Al Awsat
Business Saudi Arabia Works on Strengthening Legislation Frameworks to Combat Money Laundering

Saudi Arabia Works on Strengthening Legislation Frameworks to Combat Money Laundering

Saudi authorities have been keen on strengthening legislative and regulatory frameworks to combat money laundering crimes, confirmed Deputy Governor for…

Asharq Al Awsat (Riyadh)
Business Egypt Launches Initiative to Ease Debts of Developing Countries

Egypt Launches Initiative to Ease Debts of Developing Countries

Egyptian Finance Minister Mohamed Maait called on Tuesday for easing the debts of developing countries by launching new consultations that “makes the debt…

Asharq Al Awsat (Cairo)
Business Saudi Deposit Boosts Foreign Reserves of Türkiye's Central Bank

Saudi Deposit Boosts Foreign Reserves of Türkiye's Central Bank

The Turkish Central Bank's net international reserves rose by $6 billion last week to $25 billion after a $5 billion deposit from Saudi Arabia entered its…

Saeed Abdulrazek (Ankara)