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  Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh region, launched on Monday the tenth edition of the Riyadh Economic Forum. (SPA)

Riyadh Economic Forum Tackles Strategic Issues, Solid Studies

Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh region,…

Asharq Al Awsat (Riyadh)
Business File: Traders looking at stock exchange graphs. AFP/Jung Yeon-je

Asian Markets Rise Further as China Moves Provide Support

Asian markets rose Tuesday as investors brushed off a reverse on Wall Street and focused on signs of slowing inflation and China's moves to shore up its…

Asharq Al Awsat
Business The companies signed a Memorandum of Understanding (MoU) outlining future cooperation across this key pathway of the energy transition. SPA

Aramco, Pertamina Explore Hydrogen and Ammonia Value Chain at B20

Aramco, one of the world’s leading integrated energy and chemicals companies, and Indonesia’s PT Pertamina (Persero) are exploring collaboration across the…

Asharq Al Awsat
Business PIF, BlackRock Sign MoU to Boost Foreign Direct Investment

PIF, BlackRock Sign MoU to Boost Foreign Direct Investment

The Saudi Public Investment Fund (PIF) and US investment giant BlackRock signed a Memorandum of Understanding on Monday to jointly explore infrastructure…

Asharq Al Awsat
Business Vice President, Prime Minister, and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum chairing the UAE cabinet (WAM)

UAE Joins Global Alliance on Green Economy

The UAE cabinet approved the country's joining to the Global Alliance on Green Economy, led by the World Green Economy Organization, which aims to launch…

Asharq Al Awsat (Abu Dahbi )
Business  Business France launches in Riyadh a program to support industrial transformation within NIDLP (SPA)

French Program to Support Industrial Transformation in Saudi Arabia

Business France, a French government agency concerned with international development, launched on Monday in Riyadh the first edition of a program to support…

Fatehelrahman Yousif (Riyadh)
Business A platform at Egypt's Zohr gas field (Egyptian Presidency)

US-German Plan to Reduce Egypt's Gas Consumption

The European Union is seeking an alternative for Russian gas and diversifying its energy sources, as Germany found other options for its needs through the…

Asharq Al Awsat (London)
Business Negotiations between Egypt's delegation and the New Development Bank (NDB) (Asharq Al-Awsat)

Egypt to Join the New Development Bank within Weeks

Egypt is moving forward with the procedures of officially joining the New Development Bank (NDB), which was established by the BRICS countries to enhance…

Asharq Al Awsat (Cairo)
Business The Governor of the Public Investment Fund (PIF) and Chairman of Saudi Aramco, Yasir Al Rumayyan, speaking to an audience during the Saudi Green Initiative Forum in Sharm El-Sheikh (Asharq Al-Awsat)

Saudi Commitment to Building a Green Future

Governor of the Public Investment Fund (PIF) and Chairman of Saudi Aramco Yasir Al Rumayyan said the Middle East Green Initiative (MGI) is a turning point in…

Business  The Lebanese pound at its worst (AFP)

Lebanon’s National Currency Tumbles as Central Bank Issues ‘Ambiguous’ Measures

The Lebanese pound exchange rate on the black market has slid to nearly LBP 40,000 to the US dollar amid conflicting reports about a delay in new regulatory…

Business General view of Riyadh city, in Riyadh, Saudi Arabia, May 7, 2020. REUTERS/Ahmed Yosri

Saudi Arabia's PIF Reduces Majority Stake in Tadawul Group, Raises $612M

Saudi Arabia's Public Investment Fund has sold a 10% stake in stock exchange operator and owner Saudi Tadawul Group through a secondary share offering, raising…

Asharq Al Awsat
Business Kamel, 56, a brass carver and vendor of souvenirs, works at his shop as he waits for customers in the old city of Sousse, Tunisia June 23, 2016. REUTERS/ Zohra Bensemra

Tunisia’s Trade Deficit Increases by 60%

The Tunisian Institute of Statistics (INS) revealed Monday that Tunisia’s balance of trade deficit widened by a record of 21 billion dinars (around $6.7…

Business A trader in the Saudi stock market monitors the trading movement (AFP)

Saudi PIF to Sell 10% Stake in Tadawul Group

Saudi Arabia's Public Investment Fund (PIF) is selling a 10% stake in Saudi Tadawul Group, the owner and operator of the Kingdom's stock exchange, via an…

Asharq Al Awsat (Riyadh)
Business Senior officials and experts participate in the launch of the “Fair Financing Guide” in Sharm el-Sheikh. (Egyptian Ministry of International Cooperation)

Sharm el-Sheikh Climate Summit Launches ‘Guide to Fair Finance’

The 2022 UN Climate Change Conference (COP27) witnessed the launch of the Sharm el-Sheikh Guide to Fair Finance – an international framework that seeks to…

Business Motorcyclists queue-up for fuel at a gas station in al-Amarat district of Sudan's capital Khartoum on June 10, 2021.

Sudan Raises Prices of Gasoline, Diesel

Sudan's energy ministry raised the price for car petrol to 620 Sudanese pounds ($1.07) per liter from 522 pounds per liter, it said in a statement on Thursday…

Asharq Al Awsat (Khartoum)
Business Pump jacks operate at sunset in an oil field in Midland, Texas US August 22, 2018. REUTERS/Nick Oxford

Oil Jumps by Over 2% as China Eases COVID Curbs

Oil prices jumped more than 2% on Friday after health authorities in China, the top global crude importer, eased some of the country's heavy COVID curbs. …

Business Part of the Saudi pavilion at the exhibition held on the sidelines of the United Nations Conference on Climate Change (Asharq Al-Awsat)

A Look at the Saudi Green Transition

As part of Saudi Arabia’s endeavor to build a greener future for all, the Kingdom is following a path that covers many axes, by applying the circular carbon…

Asharq Al Awsat (Sharm el-Sheikh)
Business Global cybersecurity leaders convene at 2022 edition of the Global Cybersecurity Forum to Rethink the Global Cyber Order (Asharq Al-Awsat)

Calls for Involving Governments in Protecting Energy Sector against Cybersecurity Threats

While Saudi Arabia’s classification in cybersecurity jumped to second place globally, the Kingdom has accomplished one of its initiatives in empowering women…

Business PIF is looking to invest in the Gulf and European telecommunications sector (Vodafone website)

Saudi PIF is Part of Consortium to Acquire European Vodafone Towers

In a move highlighting its interest to invest in the telecommunications sector, Saudi Arabia’s Public Investment Fund (PIF) is looking to finance a deal to…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia develops cybersecurity capabilities to limit cyberattacks (Asharq Al-Awsat)

Saudi Arabia to Host MENA’s Largest Cybersecurity Event

Saudi Arabia will host the international Black Hat event in mid-November, the largest cybersecurity event in the Middle East and North Africa region (MENA),…

Asharq Al Awsat (Riyadh)
Business Part of the giant Red Sea tourism project in western Saudi Arabia, and in the framework, John Pagano, CEO of Red Sea Global (Asharq Al-Awsat)

Red Sea Global CEO: We Look Forward to Implementing Int’l Projects

The Red Sea Development Co. CEO John Pagano has affirmed that his company has the capabilities and ambition needed to implement its vision on a global scale…

Mosaed al-Zayani (Riyadh)
Business Public Investment Fund (PIF) is considering a final bid for Ooredoo network towers (QNA)

Saudi PIF Considers Bidding for Qatar's Ooredoo Tower Unit

Saudi Arabia's Public Investment Fund (PIF) is considering a final bid for network towers sold by Qatari telecom firm Ooredoo. According Bloomberg, informed…

Asharq Al Awsat (Riyadh)
Business Dubai Islands of Nakheel (Asharq Al-Awsat)

Nakheel Secures Strategic Finance of $4.6 bln

Nakheel has secured 17 billion dirhams ($4.6 billion) in financing as the group behind the palm-shaped islands accelerates plans for “its new projects…

Asharq Al Awsat (Dubai)
Business Signing the memorandum of understanding between the Oman Investment Authority and the Saudi ACWA Power company to study the possibility of investment in the Suez wind power plant project (Oman News Agency)

ACWA Power, Oman Investment Authority Study Possibility of Wind Power Plant Project in Egypt

Saudi Arabia and Oman signed on Tuesday a memorandum of understanding to study the possibility of investing up to 10 percent in the development, construction,…