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 More than 6,000 participants are attending the Future Investment Initiative forum in Riyadh. (Asharq Al-Awsat)

Future Investment Initiative: Innovation Is Key to Enhancing Global Human Capabilities

Governor of the Saudi Public Investment Fund (PIF) Yasir Al-Rumayyan stressed the need for the world to be open to innovation, highlighting the importance of…

Mosaed al-Zayani (Riyadh)
Business Saudi Finance Minister Mohammed al-Jadaan. (Bashir Saleh)

Saudi Finance Minister Says Next Six Months ‘Very Good’ for Gulf

Saudi Finance Minister Mohammed al-Jadaan said on Wednesday the next six months, and possibly six years, would be "very good" for the Gulf Arab countries but …

Asharq Al Awsat
Business The logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (Reuters)

Saudi Aramco Announces $1.5 Bln Sustainability Fund

Saudi Aramco announced on Wednesday the creation of a $1.5 billion Sustainability Fund to invest in technology that can support a stable and inclusive energy…

Asharq Al Awsat
Business The value of non-oil exports reached 27 billion riyals. Asharq Al-Awsat

GASTAT: Saudi Non-Oil Exports Increased by 16.6% in August

The General Authority for Statistics (GASTAT) said in its latest report that the value of merchandise exports in Saudi Arabia in August reached 134 billion…

Business Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)

Egypt, Qatar to Boost Cooperation Through Gas Exporting Countries Forum

Egypt and Qatar have agreed to bolster cooperation in the energy sector at the Gas Exporting Countries Forum (GECF) through continuous bilateral coordination. …

Sabri Najeh (Cairo)
Business The partnership works on support businesses and industry in the region as they play their part in the global transition to net zero - PIF

Saudi PIF Establishes Regional Voluntary Carbon Market Company

The Public Investment Fund (PIF) announced the establishment of the Regional Voluntary Carbon Market Company, where PIF holds an 80% stake and Saudi Tadawul…

Asharq Al Awsat
Business Preparations underway in Riyadh for the Future Investment Initiative forum, which kicks off on Tuesday (Asharq Al-Awsat)

FII’s Flagship Forum Kicks Off in Riyadh

Financial and investment leaders from around the world have gathered in Riyadh for the annual Future Investment Initiative (FII) forum, which will shed light…

Mosaed al-Zayani (Riyadh)
Business Lucid Group showroom for electric cars in Saudi Arabia (Asharq Al-Awsat)

'Lucid' Group Launches 1st Middle East Studio in Saudi Arabia

Lucid Group, setting new standards with the longest-range, fastest-charging electric car on the market, announced the opening of its first Studio in the Middle…

Asharq Al Awsat
Business Empower Plans to Sell 10% Stake, List on Dubai Financial Market

Empower Plans to Sell 10% Stake, List on Dubai Financial Market

Emirates Central Cooling Systems Corporation (Empower) announced plans to proceed with an initial public offering (IPO) and to list a portion of its ordinary…

Asharq Al Awsat
Business PIF Launches Halal Products Development Company

PIF Launches Halal Products Development Company

The Public Investment Fund (PIF) announced the launch of the Halal Products Development Company, which will invest in localizing the Halal production industry…

Asharq Al Awsat
Business Arcapita said that the establishment of a financial company will allow it to participate in promising investments in the Saudi market. (Asharq Al-Awsat)

Arcapita Expands in Saudi Arabia, Forms Financial Firm

Arcapita Group Holdings, the global alternative investment firm, has formed Arcapita Capital Company, a new subsidiary licensed by the Capital Market Authority…

Asharq Al Awsat (Riyadh)
Business Chinese President Xi Jinping is seen at the end of the Chinese Communist Party's 20th Party Congress on a giant screen a commercial district of Hangzhou in eastern China's Zhejiang province on Sunday, Oct 23, 2022. (AP)

China’s Economic Growth Accelerates but Weak amid Shutdowns

China's economic growth picked up in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a slump while…

Asharq Al Awsat
Business The European Central Bank is pushing back against market expectations that it will lift borrowing costs in 2022 - AFP via Getty Images

ECB again Eyes Jumbo Rate Hike to 'Tame Inflation Beast'

The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war…

Asharq Al Awsat
Business Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil Prices Slide as China Demand Data Disappoints

Oil prices fell on Monday after China released much-delayed trade data which showed that demand in the world's largest crude importer remained lackluster in…

Asharq Al Awsat
Business Salah Habib, CEO of Diamond Developers

Oman’s Yeti is a Step towards Zero-emissions Projects

Salah Habib, CEO of Diamond Developers, said that investments in the sustainable city of Yeti, in the Omani capital, would amount to one billion dollars,…

Mosaed al-Zayani (Dubai)
Business Qatar's Energy Minister, Saad al-Kaabi, and CEO of Shell, Ben van Beurden, gesture after a singing agreement at a press conference in Doha, Qatar, October 23, 2022. (Reuters)

QatarEnergy Names Shell Partner for LNG Expansion Project

QatarEnergy's chief executive on Sunday named Shell a partner on the Gulf Arab state's North Field South expansion, part of the world's largest liquefied…

Asharq Al Awsat
Business The Digital Technology Forum will feature nine dialogue sessions and presentations by 25 specialized speakers, who will discuss enabling local technology products and Blockchain technology. (Asharq Al-Awsat)

Digital Technology Forum Discusses Role of Local Content in Saudi Tech Sector

The Saudi Communications and Information Technology Commission (CITC) is holding this Sunday the Digital Technology Forum 2022, under the title, “Enabling…

Asharq Al Awsat (Riyadh)
Business A gas station in the Egyptian capital, Cairo (Reuters)

Egypt Keeps Fuel Prices Unchanged until Year End

Egypt fixed gasoline prices on Saturday, for a period of 3 months until the end of this year, as a result of global economic conditions and their repercussions…

Asharq Al Awsat (Cairo)
Business Riyadh Skyscrapers tower over a highway in the main financial hub, Riyadh, Saudi Arabia, Dec. 16, 2020. (AFP)

Saudi National Bank’s Third Quarter Profit up 18.7%

Saudi National Bank, the Kingdom's biggest lender, said on Sunday its net profit in the third quarter rose 18.7% from the same period year before on higher…

Asharq Al Awsat
Business Altibbi CEO Jalil Labadi (Asharq Al-Awsat)

‘Altibbi’ CEO to Asharq Al-Awsat: Telehealth Projects to Produce Leap in Arab Primary Care Systems

The advancement of private sector digital technologies and the creation of pro-investment legislative environments are vital to the modern-day healthcare…

Mohammed al-Hamidi (Riyadh)
Business Saudi Energy Minister Prince Abdulaziz bin Salman during the online meeting with China’s National Energy Administrator Zhang Jianhua (Asharq Al-Awsat)

Saudi Arabia, China Stress Importance of Reliable Oil Supplies for Market Stability

Saudi Arabia and China have agreed to cooperate in the field of "peaceful use of nuclear energy" and establish a regional hub for Chinese manufacturers to use…

Asharq Al Awsat (Riyadh)
Business A general view shows Tahrir Square after its renovation in Cairo, Egypt July 13, 2020. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt to Host 24th Meeting of Gas Exporting Countries Forum

Egypt will host the 24th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) on Sunday under the chairmanship of Minister of Petroleum and Mineral…

Asharq Al Awsat
Business SALIC and Minerva Foods announce the acquisition of the Australian Lamp Company. (SALIC)

Saudi Arabia’s SALIC, Brazil’s Minerva Buy Australian Lamb Company for about $260 Mln

The Saudi Agricultural and Livestock Investment Company (SALIC), owned by the Saudi Public Investment Fund, and Brazilian meatpacker Minerva has acquired the…

Asharq Al Awsat
Business Saudi Arabia has approved credit facilities worth more than $2.5 billion from the beginning of 2022 until the end of the third quarter in September to support export activities in various vital sectors. (SPA)

Saudi EXIM Approves $2.5 Bn Credit Facilities to Support Vital Sectors

Saudi Arabia has approved credit facilities worth more than $2.5 billion from the beginning of 2022 until the end of the third quarter in September to support…

Asharq Al Awsat (Riyadh)