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 The Saudi Central Bank (SAMA) is studying the economic impact of the digital currency on the country. (Asharq Al-Awsat)

Saudi Arabia Seeks to Accelerate Development of Digital Currency

As the Saudi Central Bank (SAMA) said on Monday that it was carrying out experiments with a central bank digital currency and exploring the potential benefits…

Bandar al-Mosalam (Riyadh)
Business The second edition of the Real Estate Future Forum is currently held in Riyadh. (Asharq Al-Awsat)

Saudi Real Estate Financing Registers 130% Growth

Statistics released on Tuesday showed that the real estate financing for individuals in Saudi Arabia accounted for more than 674 billion riyals ($197 billion)…

Asharq Al Awsat (Riyadh)
Business Officials speak at a panel discussion on the sidelines of the Municipal Investment Forum on Tuesday (Yazid Al-Samrani)

Global Alliance for Railway Project to Link Eastern and Western Saudi Arabia

Saudi Minister of Transport and Logistics Eng. Saleh Al-Jasser unveiled on Tuesday an international coalition led by a Chinese company, with 11 other…

Asharq Al Awsat (Riyadh)
Business A general view of Riyadh, Saudi Arabia. (AFP file photo)

2nd Riyadh Global Medical Biotechnology Summit to Kick off on Wednesday

Saudi Minister of the National Guard Prince Abdullah bin Bandar bin Abdulaziz will inaugurate on Wednesday the second Riyadh Global Medical Biotechnology…

Asharq Al Awsat
Business One of the sessions of the Real Estate Future Forum in Riyadh, in which ministers and officials participated (Asharq Al-Awsat)

Saudi Arabia Inks Agreements, MoUs of $2.66 Bln at Real Estate Future Forum

Saudi Arabia has signed agreements and MoUs of more than 10 billion Saudi riyals ($2.66 billion) to set up four investment funds to develop commercial, tourism…

Asharq Al Awsat (Riyadh)
Business Triple Bay masterplan of the Red Sea Global (Asharq Al-Awsat)

Red Sea Global Awards $266 Mn Contract in Saudi Arabia

The Saudi Red Sea Global awarded a Primary Infrastructure and Utility Contract of $266 million to the al-Ayuni Investment and Contracting to progress expansion…

Asharq Al Awsat (Jeddah)
Business Chairman of the Ad Hoc Audit Selection Committee (ASC) Abdullah bin Zarah

IMF Selects a Saudi as Chairman for Ad Hoc Audit Selection Committee

The members of the Executive Board of the International Monetary Fund (IMF) have unanimously selected the Executive Director of Saudi Arabia at the IMF,…

Asharq Al Awsat (Riyadh)
Business Zakat, Tax and Customs Authority (ZATCA) officials at the event launching initiative for 2-hour Saudi customs clearances (Asharq Al-Awsat)

Saudi Arabia Boosts Efficiency of Customs Clearances

Saudi Arabia has reduced its customs clearance period from 12 days to 2 hours in a move aimed at increasing the efficiency of customs processes in all the…

Bandar al-Mosalam (Riyadh)
Business Egyptian Prime Minister Mostafa Madbouly with CEO of the General Authority for Investment and Free Zones, Hossam Haiba (Asharq Al-Awsat)

Egypt to Establish Stable Tax System, Clear Investment Incentives

Egypt is currently developing several proposals to improve its investment climate, including a stable tax system and clear investment incentives, announced…

Asharq Al Awsat (Cairo)
Business View of snow in the Sahara, Ain Sefra, Algeria (File photo: Reuters)

Algeria Takes New Measures to Boost Desert Tourism

Algeria seeks to attract foreign tourists through a series of measures that encourage desert tourism in the south of the country, following in the footsteps of…

Asharq Al Awsat (Algiers)
Business First edition of the Saudi Real Estate Future Forum (Asharq Al-Awsat)

Saudi Arabia Aspires for Real Estate Role in Attracting Foreign Investments

The Saudi Real Estate Future Forum keeps pace with the government's tendency to attract foreign companies to invest in the Kingdom's real estate sector,…

Asharq Al Awsat (Riyadh)
Business A general view of Cairo, Egypt. (File photo: AFP)

Egypt Signs $1.5 Bln Financing Agreement with ITFC

Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC). The deal aims to fund Egypt's trade…

Asharq Al Awsat
Business Preliminary financial results recently announced by the listed banks on the Muscat Stock Exchange showed an increase in profits

Profits of Omani Banks Rise 20%

Total net profits of Omani banks listed on the Muscat Stock Exchange (MSX) jumped by 20.6 percent to RO409mn in 2022 as compared to RO338.9mn profits reported…

Asharq Al Awsat (Muscat)
Business UAE Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum has visited Atlantis The Royal. Asharq Al-Awsat

UAE Underlines Importance of Tourism as Major Contributor to the Economy

UAE Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum has visited Atlantis The Royal, a new iconic landmark on Dubai's…

Asharq Al Awsat (Dubai)
Business A woman presses seeds to extract argan oil in a city in western Morocco (AFP)

Inflation in Morocco Rises to 6.6%

Inflation in Morocco during the past year reached 6.6 percent, as a result of the increase in food and transport prices, showed data issued by the High…

Asharq Al Awsat (Rabat)
Business Saudi Arabia to transfer real estate activities into online activity (Asharq Al-Awsat)

Saudi Arabia Grants 90,000 Licenses as Real Estate Brokerage Law Comes into Force

Saudi Real Estate Authority said that it had received, through its electronic services, over 89,000 requests for real estate licenses in just two days after…

Asharq Al Awsat (Riyadh)
Business A tourist buys locally-manufactured Argan oil from one of the stores in Moroccan Essaouira (AFP)

Morocco’s Central Bank Caps its First Treasury Bond Purchases

Morocco's central bank said on Thursday it planned to limit its first-ever liquidity-boosting purchase operations of treasury bonds to 25 billion dirhams ($2.5…

Asharq Al Awsat (Rabat)
Business A group of towers on the Nile River in the Egyptian capital, Cairo (EPA)

Fitch: Egyptian Banks’ Capital Ratios Can Withstand Further EGP Depreciation

Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46…

Asharq Al Awsat (Cairo)
Business The new corporate law was prepared in accordance with international best practices to address aspects of the challenges facing establishments in Saudi Arabia (Asharq Al-Awsat)

New Corporate Law to Stimulate Saudi Commercial, Investment System

Starting Thursday, companies operating in Saudi Arabia entered a new phase after the Kingdom enforcing a new corporate law within its framework of completing…

Bandar al-Mosalam (Riyadh)
Business Saudi and Korean officials during the signing ceremony of the agreement between Riyad Bank and Export-Import Bank of Korea (Asharq Al-Awsat)

Saudi-Korean Partnership to Finance Jafurah Gas Field

Saudi Arabia’s Riyad Bank signed a project financing agreement with the Export-Import Bank of Korea to develop the power station project in the al-Jafurah gas…

Asharq Al Awsat
Business Trucks and containers at Egypt’s Alexandria Port (Reuters)

Egyptian Exports Grow to $54 Bln

Egyptian Prime Minister Mostafa Madbouly said Wednesday initial figures show that Egyptian exports reached $53.8 billion in 2022, an increase of 20 percent…

Asharq Al Awsat (Cairo)
Business Chief Business and Markets Officer at Saudi Real Estate Refinance Company (SRC) Majeed Abduljabbar (Asharq Al-Awsat)

SRC Prepares to Offer Global Dollar-Denominated Sukuk

Chief Business and Markets Officer at Saudi Real Estate Refinance Company (SRC) Majeed Abduljabbar revealed that his company is planning to issue dollar…

Mosaed al-Zayani (Riyadh)
Business General view of Riyadh city in Riyadh, Saudi Arabia, May 7, 2020. REUTERS/Ahmed Yosri

Saudi Arabia Joins WEF Jobs Consortium

Saudi Arabia has joined the World Economic Forum’s (WEF) Jobs Consortium, it was announced at the organization’s 2023 Annual Meeting in Davos. The Jobs…

Business Saudi Aramco’s global trading arm has bought US firm Motiva Trading. SPA

Saudi Aramco Acquires Largest Oil Refinery in North America

Saudi Aramco’s global trading arm has bought US firm Motiva Trading as it seeks to expand its footprint across North and South America. As well as acquiring…

Asharq Al Awsat (Riyadh)