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 Agreements to Launch Pilot Initiatives for Small Enterprises in Saudi Arabia

Agreements to Launch Pilot Initiatives for Small Enterprises in Saudi Arabia

Biban 2023 - Saudi Arabia’s largest start-up, SME, and entrepreneurship conference – saw on Friday the signing of more than 25 agreements between the…

Asharq Al Awsat (Riyadh)
Business  Intensive Meetings to Assess Riyadh’s Readiness to Host Expo 2030

Intensive Meetings to Assess Riyadh’s Readiness to Host Expo 2030

The mission of the International Bureau of Exhibitions (BIE), the authority concerned with evaluating the ability of the candidate cities to host Expo 2030,…

Asharq Al Awsat (Riyadh)
Business Egypt Inflation Soars to 5-year High

Egypt Inflation Soars to 5-year High

Egypt's official annual headline inflation rate leaped to 31.9 percent in February from 25.8 percent in January, its highest in five and a half years,…

Asharq Al Awsat (Cairo)
Business Saudi Economy Registers Highest Growth among G20 Countries

Saudi Economy Registers Highest Growth among G20 Countries

Saudi Arabia’s gross domestic product (GDP) grew by 8.7 percent in 2022, registering the highest growth rate among the G20 countries, despite the complex…

Bandar al-Mosalam (Riyadh)
Business UAE’s DAMAC Boosts Investment in Saudi Data Centers

UAE’s DAMAC Boosts Investment in Saudi Data Centers

Hussain Sajwani, Chairman of the Board of Directors of DAMAC, said that the group’s investment in data centers in Saudi Arabia came after an extensive study of…

Mosaed al-Zayani (Dubai)
Business EU Strikes Deal to Curb Energy Use by 2030

EU Strikes Deal to Curb Energy Use by 2030

The European Union struck a deal on Friday to cut final energy consumption across the bloc by 11.7% by 2030, a goal lawmakers said would help fight climate…

Asharq Al Awsat
Business Oil Headed for Worst Weekly Drop since Feb on US Slowdown Fears

Oil Headed for Worst Weekly Drop since Feb on US Slowdown Fears

Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the…

Asharq Al Awsat
Business Türkiye Lira Flat after Overnight Tumble to Record Low of 19.8 vs Dollar

Türkiye Lira Flat after Overnight Tumble to Record Low of 19.8 vs Dollar

Türkiye’s lira, which is prone to sharp swings before regular trading hours, was flat early on Friday, after dropping 4.25% to a record low of 19.80 against…

Asharq Al Awsat
Business Saudi Arabia Allocates $2.9 Billion for SMEs

Saudi Arabia Allocates $2.9 Billion for SMEs

Saudi financing agencies announced the allocation of 11 billion riyals ($2.9 billion) for entrepreneurship projects and SMEs in the Kingdom. This came…

Asharq Al Awsat (Riyadh)
Business Jada Fund of Funds Appoints Mr. Bandr Alhomaly as CEO

Jada Fund of Funds Appoints Mr. Bandr Alhomaly as CEO

The Board of Directors of Jada Fund of Funds – Saudi government-owned by the Public Investment Fund to provide funding to Saudi SMEs through commercially…

Asharq Al Awsat
Business Turkish Lira Falls to Record Low Near 19 to the Dollar

Turkish Lira Falls to Record Low Near 19 to the Dollar

Türkiye's lira weakened to a fresh record low of 18.9620 against the dollar on Thursday. Presidential and parliamentary elections scheduled for May 14 are…

Asharq Al Awsat
Business Saudi Arabia Evaluates 300 Projects for Potential Privatization

Saudi Arabia Evaluates 300 Projects for Potential Privatization

As South Korea recently announced its intention to encourage its companies to enter the Saudi market and seize the available opportunities, Saudi Minister of…

Business Saudi Arabia Launches $1b Real Estate Funds to Provide Thousands of Homes

Saudi Arabia Launches $1b Real Estate Funds to Provide Thousands of Homes

Minister of Municipal, Rural Affairs and Housing Majid Al Hogail inaugurated Restatex Riyadh Real Estate Exhibition 2023 on March 7. The exhibition, being…

Asharq Al Awsat (Riyadh)
Business Riyadh, Warsaw to Deepen Joint Strategic Partnership

Riyadh, Warsaw to Deepen Joint Strategic Partnership

Saudi Arabia has become a global player, and Poland is looking forward to a significant trade and investment movement, especially in the agricultural sector,…

Fatehelrahman Yousif (Riyadh)
Business Saudi Arabia to Allocate $800 Million of Loans for Least Developed Countries

Saudi Arabia to Allocate $800 Million of Loans for Least Developed Countries

Saudi Arabia will allocate $800 million through the Saudi Fund for Development (SFD) to finance development projects for Least Developed Countries (LDCs) in…

Asharq Al Awsat
Business Experts Recommend Updating Competition Regulations for GCC Railway Project

Experts Recommend Updating Competition Regulations for GCC Railway Project

The team of experts overseeing the Gulf Cooperation Council (GCC) Railway project discussed preparations for offering the project’s operational plan and asset…

Asharq Al Awsat (Riyadh)
Business Seoul Seeks Aramco’s Help to Win Contracts of Saudi Giga Projects

Seoul Seeks Aramco’s Help to Win Contracts of Saudi Giga Projects

South Korea's government intends to make its firms enter the Saudi market and win contracts to construct $500 billion worth of projects to develop smart and…

Asharq Al Awsat (Riyadh)
Business Oil Extends Declines on Rate Hike Concerns

Oil Extends Declines on Rate Hike Concerns

Oil prices fell for a second straight session on Wednesday, driven by fears that more aggressive US interest rate hikes would hit demand, while the market…

Business Al-Swaha: 'Expo 2030' Reflects Saudi Arabia's Readiness to Play Pioneering Global Role

Al-Swaha: 'Expo 2030' Reflects Saudi Arabia's Readiness to Play Pioneering Global Role

Saudi Minister of Communications and Information Technology Eng. Abdullah Al-Swaha stressed that Saudi Arabia was looking forward to host the Expo 2030,…

Asharq Al Awsat
Business International Brand Selected for Establishment of Saudi Arabia's First Wellness Resort

International Brand Selected for Establishment of Saudi Arabia's First Wellness Resort

Saudi Arabia chose a signature international brand to implement the first wellness resort in the Triple Bay area, which is located within the Amaala project in…

Asharq Al Awsat (Riyadh)
Business Digital Dispute Settlement Provides Appropriate Environment for Saudi Private Sector

Digital Dispute Settlement Provides Appropriate Environment for Saudi Private Sector

International experts have warned of the biases of artificial intelligence rulings in the judicial system, stressing the importance of providing modern…

Business UAE Approves Developing the Circular Economy Policy 2031

UAE Approves Developing the Circular Economy Policy 2031

The Emirati Cabinet approved developing the UAE Circular Economy Policy 2031, as an updated framework to achieve the objectives of the UAE in the circular…

Asharq Al Awsat (Abu Dhabi)
Business World Bank President David Malpass attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves Herman

World Bank Halts Talks with Tunisia over President's Anti-migrant Remarks

The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied,…

Business Oil markets are optimistic about rising Chinese demand. (Reuters)

Saudi Aramco Hikes Official Selling Prices of Arab Crude

Saudi Aramco has increased Official Selling Prices (OSPs) for April-loading crude to Asia, Europe, and America largely in line with expectations of oil demand…

Asharq Al Awsat (London)