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 General view of hotels, banks and office buildings by the Nile River in Egypt, September 12, 2022. (Reuters)

Egypt Sees High Demand from Investors after Currency Drop 

Egypt is seeing good investor appetite for stakes in its state-owned enterprises, the country's planning minister said on Wednesday, as the government pursues…

Asharq Al Awsat
Business Part of the signing of an agreement between the UAE and Japan yesterday during Abu Dhabi Sustainability Week (WAM)

Clean, Renewable Energy Agreements Inked at Abu Dhabi Sustainability Week 2023

More agreements and partnerships in the field of clean and renewable energy are being signed at the Abu Dhabi Sustainability Week (ADSW) 2023. Abu Dhabi…

Asharq Al Awsat (Abu Dahbi )
Business International Monetary Fund (IMF) Managing Director Kristalina Georgieva attends a session at the World Economic Forum (WEF) annual meeting in Davos on January 17, 2023. (AFP)

IMF: Saudi Arabia Playing Important Role in Energy, Food Security

International Monetary Fund (IMF) Managing Director Kristalina Georgieva underscored on Wednesday the important role Saudi Arabia is playing in energy and food…

Asharq Al Awsat
Business In July 2021, Saudi Arabia completed the final stage of the flour milling sector privatization. (Asharq Al-Awsat)

Saudi Arabia’s Grain Corporation to Become General Food Security Authority

The Saudi Council of Ministers decided to transform the Saudi Grains Organization (SAGO) into the General Food Security Authority (GFSA), and approved the…

Asharq Al Awsat (Riyadh)
Business  Egypt’s Industrial Modernization Center (IMC) and the Saudi Obeikan Investment Group signed an MoU to enhance cooperation in digital transformation. (Asharq Al-Awsat)

Egypt Tackles Saudi Investors Problems in Real Estate, Industrial Projects

Egyptian Prime Minister Mostafa Madbouly stressed the importance his government attaches to solving problems that local and foreign investors face, as well as…

Sabri Najeh (Cairo)
Business Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. REUTERS/Stringer

Oil Prices Extend Gains on Optimism Over China’s Recovery

Oil prices rose on Wednesday, extending the previous session's gains, driven by optimism that the lifting of China's strict COVID-19 curbs will lead to a…

Asharq Al Awsat
Business A man counts Egyptian pounds outside a bank in Cairo, Egypt October 24, 2016. (Reuters)

Egypt’s Central Bank Monitors Return of Foreign Investors to Local Market

The Central Bank of Egypt said on Monday it was monitoring inflows from foreign investors that exceeded $925 million since Jan. 11. In a statement, the…

Sabri Najeh (Cairo)
Business UAE President Sheikh Mohamed bin Zayed Al Nahyan and a number of heads of state attend the opening ceremony of Abu Dhabi Sustainability Week. (WAM)

UAE Looking Forward to Effective Partnership on Climate Issues at COP28

The United Arab Emirates underscored its efforts for the upcoming United Nations Climate Change Conference (COP28) to serve as an opportunity to forge…

Mosaed al-Zayani (Abu Dhabi )
Business The Saudi government has enacted many laws to improve the labor market and enhance women’s participation in various sectors. (Asharq Al-Awsat)

Saudi Arabia Advances 10 Ranks Internationally in Gender Pay Gap

Saudi Arabia has achieved remarkable progress in the fields of training and gender balance in the labor market, after it approved several regulations and…

Asharq Al Awsat (Riyadh)
Business 09 December 2022, Saudi Arabia, Riyadh: Saudi Crown Prince and Prime Minister Mohammed bin Salman chairs the first China-Arab summit in Riyadh. (SPA)

Saudi Crown Prince Launches Investment Fund on Culture, Tourism, Entertainment, Sports

Prince Mohammed bin Salman, Crown Prince and Prime Minister, announced on Tuesday the launch of the Events Investment Fund (EIF) that aims to develop a…

Asharq Al Awsat
Business Local construction workers work on the roof of a house in New Delhi, India (AFP)

ILO Warns: Economic Slowdown Could Force Workers to Accept Lower-Quality Jobs

The International Labor Organization (ILO) has warned against the current global economic slowdown which could force workers to accept lower-quality jobs,…

Asharq Al Awsat (Geneva)
Business Containers are seen at Newark port in New Jersey and, in the frame, Chief Economic Advisor at the Saudi Ministry of Economy and Planning Dr. Raja Almarzoqi. (AFP)

Study Envisages Connection between Innovation, Financing, Trade with Global Economy 

Saudi researcher Dr. Raja Almarzoqi underscored the connection between innovation, international commerce movement, financing and economic growth that has…

Asharq Al Awsat (Riyadh)
Business A Saudi man wearing protective gloves buys vegetables at a supermarket, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia May 11, 2020. REUTERS/Ahmed Yosri

Saudi Arabia’s Inflation Hits 3.3%

The prices of housing, water, electricity, gas, and other fuels, as well as food and beverages, caused an increase in the consumer price index in Saudi Arabia,…

Asharq Al Awsat (Riyadh)
Business Egypt’s Gasc Sells Almost 300,000 T of Wheat via New Commodities Exchange

Egypt’s Gasc Sells Almost 300,000 T of Wheat via New Commodities Exchange

Egypt’s state grains buyer the General Authority for Supply Commodities (GASC) has sold around 300,000 tonnes of wheat via the new Egyptian Mercantile Exchange…

Asharq Al Awsat
Business The UAE Minister of Energy, Suhail al-Mazrouei (AFP)

UAE Launches 11 Green Energy Projects Worth $43 Bn

The UAE Minister of Energy, Suhail al-Mazrouei, said on Monday that several factors will drive oil prices in 2023, mainly the end of China's zero-COVID policy,…

Asharq Al Awsat (Abu Dhabi)
Business Shoppers in a supermarket in Oman (Reuters)

Oman's Inflation Rate Inches Close to 2%

The inflation rate of the Consumers Price Index (CPI) in Oman stood at 1.98 percent during December 2022, according to the latest data issued by the National…

Asharq Al Awsat (Muscat)
Business Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, receives Yoon Suk Yeol, President of South Korea and Kim Keon-hee, First Lady of South Korea, upon their arrival for a state visit reception, at Qasr Al Watan, Abu Dhabi, United Arab Emirates, January 15, 2023. Mohamed Al Hammadi/UAE Presidential Court/Handout via REUTERS

UAE Pledges to Invest $30 Billion in South Korea

The United Arab Emirates (UAE) will invest $30 billion in South Korea's industries, South Korea's presidential office said on Sunday. The investment…

Asharq Al Awsat
Business An Egyptian gas field. Reuters file photo

Eni, Chevron Announce New Gas Discovery in Egyptian Field

Italian energy group Eni and US energy major Chevron said on Sunday they had made a new gas discovery in an Egyptian offshore field in the Eastern…

Asharq Al Awsat
Business  At the Atlantic Council’s Global Energy Forum, Sultan Al Jaber, UAE minister of industry and advanced technology and special envoy for climate change, called for a transformational shift in the race to combat the climate crisis. (WAM)

Abu Dhabi Global Energy Forum: Geopolitical Turmoil Affects Energy Transition

The seventh yearly Global Energy Forum, arranged by the Atlantic Council, has launched in the UAE capital, Abu Dhabi. Partakers at the Forum stressed the need…

Business n the past five days, total sales and purchases carried out amounted to about $322 million - File Photo

BDL Role Shrinks in Lebanon’s Cash Game

The central role of Banque du Liban (BDL) in currency exchange markets has shrunk dramatically due to the stress brought about by monetary speculation, which…

Business Saudi Arabia and Pakistan officials signed oil and energy derivatives financing contracts last week (Asharq Al-Awsat)

Saudi Arabia Supports Pakistan’s Economy with $20 Bn in 4 Years

Saudi support for the Pakistani economy constituted a safety valve for its stability and continuity, allowing it to face economic repercussions. Asharq Al…

Business The dinar's depreciation has sent panic through the Iraqi population, which fears a price surge on imported goods © AHMAD AL-RUBAYE / AFP/File

Iraq’s Local Currency Sees Two-month Roller Coaster Ride

Iraq's local currency has been on a two-month roller coaster ride following a tightening of procedures for international transfers, AFP reported. While the…

Asharq Al Awsat
Business The Future Minerals Forum ended its work in Riyadh with the signing of more than 60 agreements. (Asharq Al-Awsat)

Energy, Metal Companies Eyeing Public Offering in Saudi Arabia 

Energy and mineral companies expressed intentions to expand and move towards public offering and listing in the financial market as the Future Minerals Forum…

Asharq Al Awsat (Riyadh)
Business UAE Energy Minister Suhail al-Mazrouei and Britain's Business and Energy Secretary Grant Shapps at the signing ceremony. (WAM)

UAE, Britain Sign MoU to Advance Energy Sector, Climate Action 

The United Arab Emirates (UAE) and Britain on Friday signed a memorandum of understanding to enhance strategic and technical cooperation in the energy sector. …

Asharq Al Awsat