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 An engineer is seen at an oil complex on the coast of the Arabian Gulf, 200 km north of Dammam, Saudi Arabia. (Aramco)

Saudi Arabia Remains China’s Top Oil Supplier

Saudi Arabia remained China's top supplier with volumes of 73.76 million tons, similar to the same period last year. Saudi shipments rose 12 percent from…

Asharq Al Awsat (London)
Business Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy Saad Sherida al-Kaabi speaks at a press conference after signing an agreement with the CEO of American multinational corporation ConocoPhillips, at the QatarEnergy headquarters in Doha on October 30, 2022. (AFP)

Qatar Signs 27-Year LNG Deal with China

QatarEnergy has signed a 27-year deal to supply China's Sinopec with liquefied natural gas (LNG), the longest such LNG agreement so far as volatile markets…

Asharq Al Awsat
Business An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US, June 9, 2016. (Reuters)

Oil Prices Ease to Trade Near 2-Month Lows on China Demand Fears, Dollar Strength

Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand…

Asharq Al Awsat
Business World Bank officials Paul Noumba Um and Marina Weiss (Asharq Al-Awsat)

World Bank Officials: Cooperation in the Region Targets Development, Climate Protection

World Bank officials stressed that climate challenges in the Middle East included water scarcity, food shortage, and energy security, noting that the Saudi…

Business An Iraqi flag is seen at an oilfield. (Reuters)

Iraq Starts Expansion of Shinafiyah Refinery 

Prime Minister Mohammed Shia al-Sudani announced on Saturday the beginning of the Shinafiyah refinery expansion in Al Diwaniyah in southern Iraq.  During…

Asharq Al Awsat (Baghdad)
Business Tunisia's President Kais Saied (center) poses for a group photo with OIF's Sec. Gen. Louise Mushikiwabo, French President Macron, Cote d'Ivoire's President Ouattara, Canada's PM Trudeau, and other officials and leaders of French-speaking countries, at the 18th Francophonie Summit in Djerba, Tunisia November 19, 2022. via REUTERS - TUNISIAN PRESIDENCY

Tunisia Says Seeking Partners for $3.2 Bln of Projects

Tunisia is seeking international partners for investment projects worth 10 billion Tunisian dinars ($3.2 billion), economy minister Samir Saied said on…

Asharq Al Awsat
Business Part of the audience in the Saudi pavilion at the COP27 conference (Asharq Al-Awsat)

Saudi Arabia Steps up ‘Climate Battle’ Efforts

The Saudi pavilion at COP27 was one of the most crowded places during the days of the conference in Sharm el-Sheikh. Visitors did not only attend seminars…

Business  Saudi Arabia begins arrangements for holding the second Future Minerals Forum (FMF), which is expected to see the participation of 100 countries (Asharq Al-Awsat)

Saudi Arabia Prepares to Host One of Largest Int’l Mining Conferences

Saudi Arabia's Ministry of Industry and Mineral Resources (MIM) has announced preparations for the second Future Minerals Forum (FMF), which will take place…

Asharq Al Awsat (Riyadh)
Business General view of Riyadh city, in Riyadh, Saudi Arabia, May 7, 2020. REUTERS/Ahmed Yosri

Riyadh to Host Saudi Arabia's Biggest Event for Entrepreneurship in Middle East

Riyadh will host the first edition of "RiseUp Saudi Arabia" on Saturday, which will run until November 21 at the King Abdullah Financial District. The…

Asharq Al Awsat
Business Part of the events of the Qassim Investment Forum, Asharq Al-Awsat

Ecotourism... A Future Direction for Investment in Saudi Arabia

A Saudi investment forum has highlighted ecotourism as one of the most prominent investment shifts in the Kingdom during the coming period. Prince Faisal…

Business Aramco’s slogan at its headquarters in Dhahran (Reuters)

Saudi Crude Exports Surge to 29-Month High in September

Saudi Arabia's crude oil exports rose for a fourth straight month in September to the highest in 29 months, data from the Joint Organizations Data Initiative …

Asharq Al Awsat (London)
Business Wind turbines, which generate renewable energy, are seen on the Zafarana Wind Farm at the desert road of Suez outside of Cairo, Egypt September 1, 2020. Picture taken September 1, 2020. (Reuters)

Egypt Close to Deals on 1GW of Solar and Wind Projects

COP27 host Egypt is close to signing final agreements to build two wind and solar projects with combined capacity of a gigawatt (GW) to boost the country's…

Asharq Al Awsat
Business Aramco's refinery-integrated petrochemical steam crackers in Saudi Arabia (AP)

Aramco to Pump $7 Bn to Develop World's Largest Petrochemical Crackers in S. Korea

Saudi Aramco announced it was planning to invest $7 billion in South Korea to develop one of the world's largest refinery-integrated petrochemical steam…

Asharq Al Awsat (Seoul)
Business Saudi officials signed an investment and construction agreement in the presence of the chairman of the Royal Commission for Jubail and Yanbu (RCJY), Khalid al-Salem (Asharq Al-Awsat)

Royal Commission Prepares Infrastructure to Attract Investments in Jazan

The Royal Commission for Jubail and Yanbu (RCJY) signed investment and construction agreements worth over $266 million with several investors in Jazan City. …

Asharq Al Awsat (Jazan)
Business The Riyadh Economic Forum concluded on Wednesday. (Asharq Al-Awsat)

Economic Forum Calls for Selection of 10 Main Sectors for Saudi Transformation to Digital Economy

The 10th edition of the Riyadh Economic Forum has issued 24 recommendations and initiatives that call for the selection of 10 key sectors and the nine…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia actively participated in the business agenda and meetings of the G20 summit in Bali. (Asharq Al-Awsat)

Saudi Arabia Offers Set of Solutions to Advance Global Development Reform

Saudi Arabia put forward a set of effective solutions and proposals to advance global development and economic reforms, through its high-level participation at…

Business The Saudi Minister of Energy and his Indonesian counterpart sign the MoU. SPA

Saudi Arabia, Indonesia Sign MoU on Energy Cooperation

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and his Indonesian counterpart, Arifin Tasrif, have signed a memorandum of understanding …

Asharq Al Awsat
Business The Egyptian Finance Minister met on Tuesday counterparts from Austria, the Netherlands, and Greece, and the Mexican and Indonesian deputy finance ministers (Asharq Al-Awsat)

Egypt Seeks to Reduce African Countries’ Debts via ‘Green Investment’

Egyptian Finance Minister Mohamed Maait has said Cairo intended to announce initiatives to reduce the debts of developing and African countries. Such an…

Asharq Al Awsat (Cairo)
Business The Jordanian capital, Amman (Reuters)

IMF, Jordan Reach Agreement on Review of Economic Reform Program

An International Monetary Fund (IMF) mission has reached a staff-level agreement on the fifth review of the Jordanian authorities’ economic reform program…

Asharq Al Awsat (Washington)
Business Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi participates in a panel discussion within the activities of the Riyadh Economic Forum on Tuesday. (Asharq Al-Awsat)

Saudi Arabia Issues 3 Ministerial Decisions to Organize Types of Work

Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi announced three ministerial decisions to organize work types, as well as ongoing…

Asharq Al Awsat (Riyadh)
Business Boats enter Al Ataya Port in Kerkennah Islands, off Sfax, Tunisia, October 23, 2022. REUTERS/Jihed Abidellaoui

Tunisia: Economy Grew in Third Quarter of 2022

Tunisia's economy grew by 2.9% in the third quarter of this year, driven by growth in the services sector, the state statistics institute said on Tuesday. …

Mongi Saidani (Tunis)
Business The Saudi government seeks to facilitate the business environment for SMEs. (Asharq Al-Awsat)

Saudi Arabia Promotes Institutions’ Investments

Saudi Arabia issued a decision allowing establishments to engage as partners in all types of corporate commercial entities, in a step that aims at facilitating…

Asharq Al Awsat (Riyadh)
Business A part of the first group of passengers in the two new international terminals that were inaugurated at King Khalid International Airport (Asharq Al-Awsat)

Supporting Int’l Travel to Establish Riyadh as a Global Connectivity Hub

Riyadh Governor Prince Faisal bin Bandar on Monday attended the opening ceremony of international travel terminals 3 and 4 at King Khalid International Airport…

Bandar al-Mosalam (Riyadh)
Business The Saudi Chief Negotiator for the Climate Agreements Khalid Abuleif (Asharq Al-Awsat)

Saudi Chief Climate Agreements Negotiator: Saudi Arabia Will Remain ‘Kingdom of Traditional, Renewable Energy’

Saudi Arabia has launched a host of initiatives and creative solutions for the global climate crisis in tandem with the UN’s flagship 2022 climate summit, COP…