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 opening session of the general assembly meetings of the African Accreditation Cooperation (AFRAC) in Cairo (Asharq Al-Awsat)

Egypt Says Supports African Accreditation System to Develop Intra-Trade

Egypt's Minister of Trade and Industry Ahmed Samir asserted that Cairo supports establishing an internationally recognized African accreditation system as an…

Asharq Al Awsat (Cairo)
Business Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz speaking at the IAEA 66th General Conference (Asharq Al-Awsat)

Saudi Arabia Prepares for Nuclear Power Plant License to Produce Electricity

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz announced that the Kingdom is considering requesting a license for a Saudi nuclear power plant…

Asharq Al Awsat (Riyadh)
Business The head of Iraq’s National Investment Commission, Suha Al-Najjar (Asharq Al-Awsat)

Iraq’s Investment Commission Says it Cooperates with Neighboring Countries to Improve Investment Law

The head of Iraq’s National Investment Commission, Suha Al-Najjar, said that her country was able to overcome current economic challenges thanks to the strong…

Mohammed al-Hamidi (Riyadh)
Business Saudi National Renewable Energy Program seeks to increase the Kingdom's share in renewable energy production (Asharq Al-Awsat)

Saudi Arabia Announces Renewable Energy Projects

Saudi Arabia launched five new projects to produce electricity using renewable energy as part of the fourth phase of the Kingdom's National Renewable Energy…

Asharq Al Awsat (Riyadh)
Business Men look at the logo of Qatar Telecom Ooredoo, formerly Qatar Telecom Qtel, as they walk past the company's head office in Doha March 16, 2013. REUTERS/Fadi Al-Assaad (QATAR - Tags: BUSINESS TELECOMS LOGO)

Qatar’s Ooredoo Prepares for Telecoms Tower Assets Sale

Qatari telecoms company Ooredoo (ORDS.QA) is preparing for a sale of 20,000 of its towers, it said on Monday. Ooredoo might package the deal in more than…

Asharq Al Awsat
Business UAE President Sheikh Mohamed bin Zayed and German Chancellor Olaf Scholz at the signing of the agreement. (WAM)

Germany's RWE and UAE's ADNOC Ink LNG Deal

United Arab Emirates President Sheikh Mohamed bin Zayed and German Chancellor Olaf Scholz witnessed on Sunday the signing of a new Energy Security and Industry…

Asharq Al Awsat
Business Managing director of QatarEnergy Saad al Kaabi and TotalEnergies Chief Executive Patrick Pouyanne in Doha on Saturday (AFP)

TotalEnergies to Invest $1.5 bln in Qatar

France’s TotalEnergies has signed a $1.5 billion investment agreement in expanding Qatar’s natural gas production as Europe rushes to find new energy sources…

Asharq Al Awsat (London)
Business Officials sign the agreement on Saturday. (Asharq Al-Awsat)

Saudi Arabia Signs $10.6 Bln Deal to Develop Local Infrastructure

Saudi Arabia will invest 40 billion riyals ($10.6 billion) in developing local infrastructure projects, announced the Ministry of Municipal and Rural Affairs…

Asharq Al Awsat (Riyadh)
Business A flynas Airbus A320 aircraft on the tarmac at Cairo International Airport. (AFP)

For 5th Time, Flynas Wins Skytrax Award as Middle East's Best Low-Cost Airline

Flynas, the Saudi air carrier and the leading low-cost airline in the Middle East, won the Skytrax Award as the Best Low-Cost Airline in the Middle East for…

Asharq Al Awsat
Business The signing ceremony between Saudi Tourism Development Fund and the Future Investment Initiative Institute (FII) (Asharq Al-Awsat)

Saudi Future Investment Initiative Institute Concludes Deal to Support Tourism

The Saudi Future Investment Initiative Institute (FII) announced it concluded an agreement to boost the tourism sector. It organized the "Priority Summit" in…

Asharq Al Awsat (Riyadh)
Business General view of Abu Dhabi, United Arab Emirates, January 3, 2019. REUTERS/ Hamad I Mohammed/File Photo/File Photo

ADNOC, TAQA Conclude $3.8b Deal on Clean Energy, Decarbonization

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) revealed concluding a $3.8 billion strategic project to power and…

Asharq Al Awsat
Business A woman wearing a protective face mask, amid concerns over the coronavirus, walks next to a wall painted with colors of the Egypt's flag in Cairo, Egypt April 26, 2020. (Reuters)

Egypt Earning $500 Million Monthly from Gas Exports

Egypt is earning about $500 million monthly from natural gas exports and aims to raise that figure to $1 billion “in the coming period,” Finance Minister…

Asharq Al Awsat
Business Pump jacks operate at sunset in Midland, Texas, US, February 11, 2019. REUTERS/Nick Oxford/File Photo

Oil Prices Edge Down, Recession Fears Back in Focus

Oil prices fell on Friday amid recession fears and a stronger US dollar, though losses were capped by supply concerns after Moscow's new mobilization campaign…

Asharq Al Awsat
Business The Saudi delegation at the International Astronautical Conference (IAC) in Paris (Asharq Al-Awsat)

Saudi SAR Signs Agreements, MoU to Develop Railways

The Saudi Railways Company (SAR) concluded several agreements and memoranda of understanding with global partners to achieve the objectives of the national…

Asharq Al Awsat (Berlin)
Business A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Türkiye September 27, 2021. REUTERS/Cagla Gurdogan

Turkish Lira Hits Record Low

Türkiye’s currency fell to a record low against the dollar before a central bank meeting on interest rates Thursday. The lira traded at a low of 18.38…

Asharq Al Awsat
Business An oil pump is seen at sunset outside Vaudoy-en-Brie, near Paris, France April 23, 2018. REUTERS/Christian Hartmann

Oil Rises as Supply Fears Overtake Recession Worries

Oil rebounded on Thursday after sliding 1% in the previous session as concerns over tight supplies heading into winter eclipsed fears of a global recession. …

Asharq Al Awsat
Business The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. REUTERS/Ahmed Jadallah/File Photo

UAE's Emaar Fully Acquires Dubai Creek Harbor

Shareholders of Emaar Properties approved the acquisition of Dubai Creek Harbor from Dubai Holding, state news agency WAM reported. They also approved the…

Asharq Al Awsat
Business Lebanon's President Michel Aoun meets with a delegation from the International Monetary Fund at the presidential palace in Baabda, Lebanon September 21, 2022. (Dalati & Nohra)

IMF Criticizes Lebanese Government over Slow Reforms

The International Monetary Fund on Wednesday said the Lebanese government's slowness to implement desperately-needed reforms was exacerbating the country's…

Asharq Al Awsat
Business The city of Jeddah is preparing for a new phase of development, with the transformation of the city’s project management office into the Jeddah Governorate Development Authority.  (SPA)

New Authority in Jeddah Seeks to Promote Development

The city of Jeddah, located on the western coast of Saudi Arabia, is preparing for a new phase of development, with the transformation of the city’s project…

Asharq Al Awsat (Jeddah)
Business President and CEO of Saudi Aramco, Amin bin Hassan Nasser (Reuters)

Saudi Aramco Urges World Unity around New Energy Transformation Plan

President and CEO of Saudi Aramco, Amin bin Hassan Nasser, emphasized the need for a more reliable energy transition plan, in a keynote speech on Tuesday at…

Asharq Al Awsat (London)
Business UAE’s Economy Minister Abdullah bin Touq al-Marri during a conference in Abu Dhabi on Tuesday, September 20, 2022. (Asharq Al-Awsat)

UAE Economy Minister: Global Economic Challenges Need Establishing Developmental Solutions

A UAE minister said on Tuesday that the current global economic challenges underscore the strategic importance of developing more developmental solutions…

Asharq Al Awsat (Abu Dhabi)
Business The World Bank called on the five West African countries to diversify their economies to adapt to climate change. (Reuters)

World Bank Calls on G5 Sahel Countries to Diversify Economies, Scale Up Reforms

The World Bank on Monday urged five West African countries to diversify their economies to adapt to climate change, warning they are extremely vulnerable to…

Business A Reuters poll forecasted that the central bank will raise its overnight deposit rate by 100 basis points (bps) as it tries to dampen resurgent inflation. (Reuters)

Egypt's Central Bank Expected to Raise Interest Rates by 100 Basis Points

Experts and economists agreed that the Central Bank of Egypt (CBE) will raise interest rates during its meeting on Thursday but did not agree on the rate hike…

Asharq Al Awsat (Cairo)
Business Vessels carrying supplies for an offshore oil platform operated by Exxon Mobil are seen at the Guyana Shore Base Inc wharf on the Demerara River, south of Georgetown, Guyana January 23, 2020. (Reuters)

Oil Prices Surge More than 2% as Putin Mobilizes More Troops

Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and…

Asharq Al Awsat