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 Saudi Finance Minister Mohammed Al-Jadaan meets with IMF Managing Director Kristalina Georgieva. (Asharq Al-Awsat)

Saudi Arabia Underlines Support to IMF Efforts to Alleviate Global Food Crisis

Saudi Minister of Finance Mohammed Al-Jadaan underlined his country’s support to the efforts of the International Monetary Fund (IMF) to mitigate the impact of…

Asharq Al Awsat (Riyadh)
Business MAWANI, Tabadul Sign MoU to Develop New Saudi Ports Management Systems

MAWANI, Tabadul Sign MoU to Develop New Saudi Ports Management Systems

The Saudi Ports Authority (MAWANI) and Saudi Company for Exchanging Digital Information (Tabadul) signed on Sunday a memorandum of understanding (MoU) with the…

Asharq Al Awsat
Business The first international “Saudi Coffee Sustainability Forum” in Jazan to discuss the value chain of Saudi coffee (Asharq Al-Awsat)

Saudi Experts Suggest Int’l Production Center Focusing on Coffee as a National Wealth

Saudi Arabia needs to focus on the quality of production and agriculture of coffee beans and increase its research if it wants to compete in the global market,…

Business Saudi Arabia will host the 15th International Conference on Air Services Negotiations of the International Civil Aviation Organization (ICAO) in Riyadh in December 2023. (Asharq Al-Awsat)

Saudi Arabia to Host Global Aviation Negotiations Event in December 2023

Saudi Arabia announced Saturday that it will host the 15th International Conference on Air Services Negotiations (ICAN) of the International Civil Aviation…

Asharq Al Awsat (Riyadh)
Business The Federation of Saudi Chambers organized workshops to present local content opportunities in the private sector. (SPA)

Local Content Purchases in Saudi Private Sector Estimated at $26 Billion

A gathering of the business sector and companies in Saudi Arabia estimated the volume of contracts targeting local content purchases in the private sector to…

Asharq Al Awsat (Riyadh)
Business The Ministry of Finance disclosed estimates of Saudi budgets with sustainable surpluses until 2025. (Asharq Al-Awsat)

Saudi Arabia Expects Sustainable Surplus Budgets until 2025

The Saudi Ministry of Finance disclosed estimates of its budgets until 2025, showing positive trends and expectations of sustainable financial surpluses during…

Asharq Al Awsat (Riyadh)
Business Mattar Al Tayer during the celebration of listing the company's shares in DFM (WAM).

Chairman of Salik’s Board of Directors: Increase in Dubai’s Population Opens Growth Opportunities

Mattar Al Tayer, chairman of Salik’s board of directors, said that the successful listing of Salik on the Dubai Financial Market (DFM) is “a clear…

Mosaed al-Zayani (Dubai)
Business The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria, Thursday, March 3, 2022. (AP)

OPEC+ to Hold Oct. 5 Meeting in Person in Vienna

OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some…

Asharq Al Awsat
Business Saudi Arabia will host the 15th International Conference on Air Services Negotiations of the International Civil Aviation Organization (ICAO) in Riyadh in December 2023. (SPA)

Saudi Arabia to Host 2023 Int’l Conference on Air Services Negotiations

Saudi Arabia will host the 15th International Conference on Air Services Negotiations of the International Civil Aviation Organization (ICAO) in Riyadh in…

Asharq Al Awsat
Business The Saudi Maritime Conference is currently held in Dammam. (Asharq Al-Awsat)

Int’l Companies Offered Facilities, Incentives to Enter Saudi Market

Many international marine companies have expressed a desire to build alliances with their Saudi counterparts, and enter the local market, thanks to the…

Asharq Al Awsat
Business IAEA's Board of Governors plays an important role in deciding on critical issues. SPA

IAEA Elects Saudi Arabia as Board of Governors Member Until 2024

The General Conference of the International Atomic Energy Agency has elected Saudi Arabia, by a majority of votes, to become a member of IAEA's Board of…

Asharq Al Awsat (Vienna)
Business The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina

OPEC+ Has Begun Talks on Output Cut - Source

Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct. 5, three sources told Reuters. One OPEC source told…

Asharq Al Awsat (London)
Business Lebanese pound banknotes are pictured at a currency exchange shop in Beirut, Lebanon, January 5, 2022. REUTERS/Mohamed Azakir

Lebanon: Govt Seen Backtracking from FX Move

The Lebanese finance ministry seemed on Thursday backing away from a Nov. 1 start date to slash the official exchange rate. The ministry said on Wednesday…

Asharq Al Awsat
Business The Labor Market Publication results for the second quarter of 2022 indicated an increase in the labor force participation rate for Saudi females in the second quarter. Asharq Al-Awsat

Saudi Unemployment Rate Drops to 9.7% in Q2 of 2022

The General Authority for Statistics (GASTAT) said Thursday that the Saudi unemployment rate has decreased to 9.7% in the second quarter, compared to 10.1% in…

Asharq Al Awsat
Business Minister of Finance Mohammed Al-Jadaan attends the Saudi Insurance Symposium (Asharq Al-Awsat)

Saudi Arabia to Announce Unified Insurance Regulator Soon

A unified regulator for the insurance sector, independent of the Saudi Central Bank (SAMA), will be announced soon, Minister of Finance Mohammed Al-Jadaan…

Fatehelrahman Yousif (Riyadh)
Business Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum spoke on the first day of the inaugural Dubai Metaverse Assembly. Asharq al-Awsat

Dubai’s Crown Prince: Metaverse Will Shape a New Digital Future for Humanity

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council and Chairman of the Board of Trustees of the Dubai…

Asharq Al Awsat (Dubai)
Business Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB) gasoline, CARB diesel fuel, and other petroleum products, in Carson, California, US, March 11, 2022. Picture taken with a drone. REUTERS/Bing Guan/File Photo

Oil Price Dips as Dollar Strengthens, Demand Weakens

Oil prices retreated slightly on Thursday after gaining more than $3 in the prior session, with a strong dollar capping oil demand from buyers using other…

Asharq Al Awsat
Business A money exchange vendor displays Lebanese pound banknotes at his shop in Beirut, Lebanon September 19, 2022. (Reuters)

Lebanon to Slash Official Exchange Rate from Nov. 1, Finance Min Says

Lebanon plans to slash its official exchange rate, replacing the 1,507 per dollar rate adopted 25 years ago with a rate of 15,000 in a step towards unifying…

Asharq Al Awsat
Business The Saudi economy is emerging as a global model in the face of shocks and global conditions. (Asharq Al-Awsat)

Saudi Economic Resilience to Increase 60% by 2030

A recent study by the King Abdullah Petroleum Studies and Research Center (KAPSARC) concluded that Saudi Arabia’s gross domestic product will become 60 percent…

Fatehelrahman Yousif (Riyadh)
Business People shop for fruits and vegetables at a market in Hong Kong. (AFP)

World Bank Cuts 2022 East Asia Growth Outlook

Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China's slowdown, but the pace of expansion will pick up next year, the World…

Asharq Al Awsat (London)
Business The Saudi Maritime Congress discusses the logistics sector (Asharq Al-Awsat)

Saudi Maritime Congress Kicks Off with Participation of Int’l Companies

The Saudi Maritime Congress, the leading maritime and logistics event, kicks off Wednesday, in Dammam, with the participation of leading figures and…

Bandar al-Mosalam (Riyadh)
Business Kremlin-backed officials in four regions under Russian control have claimed victory in controversial annexation votes, spooking investors STRINGER AFP

Stocks and Oil Drop as Dollar Gains on Recession, Ukraine Fears

Equities and crude prices fell, while the dollar held at multi-year highs Wednesday as recession fears mount, while traders are also growing increasingly…

Asharq Al Awsat
Business  CEO of Tonomus, Joseph Bradley. (NEOM)

NEOM Tech and Digital Company Steps into the Future as ‘Tonomus’

NEOM Tech & Digital Company – the first company to be established as a full-fledged subsidiary of NEOM – on Tuesday launched as “Tonomus,” signaling the next…

Asharq Al Awsat
Business The 11th International Government Communication Forum (IGCF) will kick off in Sharjah on September 28. (WAM)

IGCF to Kick Off in Sharjah to Discuss Role of Communication in Global Economy

The 11th International Government Communication Forum (IGCF) will kick off in Sharjah in the United Arab Emirates on September 28. The two-day event…

Mosaed al-Zayani (Sharjah)