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 first edition of the Global Cybersecurity Forum held in Riyadh two years ago (Asharq Al-Awsat)

100 Countries Discuss in Riyadh Bridging Global Cybersecurity Gap

Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, the second edition of the Global Cybersecurity Forum is scheduled to…

Asharq Al Awsat (Riyadh)
Business A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil Prices Dip on China Demand Worries

Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand. …

Asharq Al Awsat
Business General view of Bahrain World Trade Center is seen during early evening hours in Manama, Bahrain, May 2, 2020. REUTERS/Hamad I Mohammed/File Photo

Bahrain Announces 2 New Natural Gas Discoveries

Bahrain has announced two natural gas discoveries in the Al-Joubah and Al-Jawf reservoirs, state news agency BNA said on Tuesday. Nasser bin Hamad Al…

Asharq Al Awsat
Business The signing of the MoU between Saudi Arabia and Egypt (Asharq Al-Awsat)

Saudi Arabia Signs Energy MoUs with Egypt, Oman

Saudi Arabia signed two separate memoranda of understanding in the energy field with Egypt and the Sultanate of Oman on Monday, on the sidelines of the 2022…

Business The Saudi Research and Media Group increases its gains during the first nine months of this year (Asharq Al-Awsat)

SRMG Profits Jump to $140 Million Until Q3

The Saudi Research and Media Group (SRMG), one of the largest Arab media organizations, revealed that its gains during the first three quarters of 2022…

Asharq Al Awsat (Riyadh)
Business  The 10 GW wind farm will produce 47,790 GWh of clean energy annually. WAM

UAE, Egypt to Develop 10 GW Onshore Wind Energy Project

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President Abdel Fattah el-Sisi witnessed the signing of an agreement to develop a 10-gigawatt (GW…

Asharq Al Awsat
Business The first-of-its-kind facility in the MENA region will fund high-quality voluntary carbon offsets. Asharq Al-Awsat

APICORP, Hartree Sign $75M Islamic Facility for Voluntary Carbon Offsets

The Arab Petroleum Investments Corporation (APICORP) has signed a $75 million Murabaha agreement in favor of Hartree Partners Power & Gas Company (UK) Limited,…

Asharq Al Awsat (Dubai)
Business A gas cooling vessel during the export of a shipment of Iraqi Basra gas (Basra Gas Company)

Iraq to Increase Production Capacity at Basra Refinery

Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani announced Sunday that the Oil Ministry is working to increase the…

Asharq Al Awsat (Baghdad)
Business A general view of Sonatrach's Hassi R'mel gas field, Algeria (Reuters)

Algeria Expects Oil Prices to Stabilize at $100 by Year's End

Oil prices are predicted to stabilize at $100 a barrel by the year-end, Algeria's Minister of Energy and Mines Mohamed Arkab said. The Minister explained…

Asharq Al Awsat (Algiers)
Business A signing ceremony to establish Libra Capital Group (Asharq Al-Awsat)

Egypt Establishes Platform for Carbon Certificates Trading

The Egyptian Exchange (EGX) Holding Company for Capital Markets Development, the Agricultural Bank of Egypt, and Libra Capital Group signed a framework to…

Asharq Al Awsat (Cairo)
Business A general view of one of three Atmospheric Residue Desulphurisation units (ARDS) at the al-Zour refinery. (Reuters)

Kuwait Launches Commercial Operations at Al-Zour Refinery

The Kuwait Integrated Petroleum Industries Co (KIPIC) launched the first phase of al-Zour refinery commercial operations on Sunday after the project started…

Asharq Al Awsat (Kuwait)
Business Saudi and South Korean officials meet in Riyadh on Sunday. (Asharq Al-Awsat)

S. Korea Keen on Investing in Saudi Mega Projects

Saudi Arabia and South Korea are seeking to strengthen investment partnerships, develop infrastructure, and exploit modern technologies in several sectors,…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia and Japan are working on a joint project to build an integrated reverse osmosis membrane desalination plant. (Asharq Al-Awsat)

Saudi Arabia, Japan to Establish Largest Reverse Osmosis Water Project in Middle East

Saudi Arabia and Japan are working on a joint project to build an integrated reverse osmosis membrane desalination plant. During a press conference in…

Bandar al-Mosalam (Riyadh)
Business A visualized scene of the King Salman Energy Park in eastern Saudi Arabia, which operates according to a policy of sustainability in energy and environment. In the frame, CEO Saif Al-Qahtani (Asharq Al-Awsat)

SPARK to Launch Organic Fertilization to Lock Humidity in Saudi Arabia’s Sands

With the launch of the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, which will witness the holding of the largest regional…

Business Proceedings of the GPCA in 2020. (Asharq Al-Awsat)

Chemical Sustainability in the Gulf Will Be Highlight of GPCA Forum in December

The Gulf Petrochemicals and Chemicals Association (GPCA) is set to discuss the challenges facing the sector and propose solutions for them at the 16th edition…

Asharq Al Awsat (Dubai)
Business 
Jordanian capital, Amman (Reuters)

Jordanian Industry Sees 3.8% Growth in 2022

The Chairman of the Amman Chamber of Industry (ACI), Engineer Fathi Al-Jaghbir, said that the Jordanian industry showed an unprecedented performance since the…

Asharq Al Awsat (Amman)
Business Part of the Saudi-Finnish joint business forum in Helsinki. (Asharq Al-Awsat)

Saudi Arabia, Finland to Establish 1st Joint Business Council

The Federation of Saudi Chambers and the Finland Chamber of Commerce signed on Friday a memorandum of understanding (MoU) in Helsinki to establish a joint…

Asharq Al Awsat (Helsinki)
Business Part of the first edition of the Saudi Green Initiative (SGI) Forum with the participation of Minister of Energy Prince Abdulaziz bin Salman (SPA)

Riyadh Sends Six Ministers, Climate Envoy to SGI Forum in Sharm El-Sheikh

Saudi Arabia has revealed the program and speakers for the second edition of the Saudi Green Initiative (SGI) Forum. Taking place 11 – 12 November 2022 on the…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia is making tangible international efforts to support afforestation, environmental sustainability, and climate conservation (SPA)

Saudi Contacts to Support Global Efforts for Addressing Climate Challenges

Saudi Energy Minister Prince Abdulaziz bin Salman has affirmed the need for enhancing international cooperation in energy fields and industry innovations to…

Asharq Al Awsat (Riyadh)
Business Abu Dhabi Ship Building Signs MoU with PT PAL Indonesia

Abu Dhabi Ship Building Signs MoU with PT PAL Indonesia

Abu Dhabi Ship Building (ADSB) signed a Memorandum of Understanding with PT PAL Indonesia to strengthen cooperation and to leverage the capabilities of both…

Asharq Al Awsat
Business People shop at Eminonu district in Istanbul, Türkiye, November 4, 2022. (Reuters)

IMF Staff Recommends Türkiye Raise Rates, Boost Central Bank Independence

Türkiye should tighten monetary policy and give its central bank more independence, a mission from the International Monetary Fund (IMF) said on Friday. …

Asharq Al Awsat
Business  Attractive investment environment in Saudi Arabia brings foreign capital to the local market. (Asharq Al-Awsat)

Saudi Arabia Registers Jump in Foreign Direct Investment Inflows

Foreign direct investment flows recorded a growth of 46.5% during the second quarter of this year, compared to the same period of 2021, after excluding the…

Bandar al-Mosalam (Riyadh)
Business Riyadh proceeds with the implementation of the Green Saudi Initiative in support of addressing climate challenges. (SPA)

Saudi Arabia Stresses Importance of Energy Transition to Address Climate Challenges

The Saudi Ministry of Energy emphasized the importance of the global energy transition to address climate challenges and the expansion of international…

Asharq Al Awsat (Riyadh)
Business During the inauguration of MBC headquarters in Riyadh (Asharq Al-Awsat)

MBC is Working on IPO in Saudi Arabia

Saudi MBC Group, the most prominent Arab broadcaster, is working with HSBC Holdings Plc and JPMorgan Chase on an initial public offering (IPO) in Saudi Arabia…

Asharq Al Awsat (Riyadh)