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 People queue near Tower Bridge to pay their respects to the late Queen Elizabeth II who's lying in state at Westminster Hall in London, Friday, Sept. 16, 2022. (AP)

Royal Fans Give London Tourism a Bump amid UK Economic Woes

Royal fans have poured into the heart of London to experience the flag-lined roads, pomp-filled processions and, above all, brave a mileslong line for the once…

Asharq Al Awsat
Business Cairo seeks to explore more prospects for cooperation to attract German investments to Egypt (Reuters)

Egypt Explores New Prospects for German Investments

Head of the General Authority for Free Zones and Investment (GAFI) Mohamed Abdel Wahab said on Thursday that the authority seeks to open new scopes for…

Asharq Al Awsat (Cairo)
Business The 2nd Global AI Summit Concluded in Riyadh on September 15 (SPA)

Saudi Arabia Launches Joint Research Center to Advance AI Field

The Saudi Data and AI Authority (SDAIA), in cooperation with King Fahd University of Petroleum and Minerals, has inaugurated a joint research center, during…

Mohammed Helal (Riyadh)
Business Saudi Arabia introduces its National Gaming and Esports Strategy (Asharq Al-Awsat)

Saudi Arabia Inaugurates Stage of Transition to Digital World Economies

After Crown Prince Mohammed bin Salman announced the National Gaming and Esports Strategy on Thursday, Saudi Arabia is set to launch a serious transformation…

Bandar al-Mosalam (Riyadh)
Business Pump jacks operate at sunset in Midland, Texas, US, February 11, 2019. REUTERS/Nick Oxford/File Photo

Oil Ticks Up, but on Track for Weekly Loss on Recession Fears

Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel…

Asharq Al Awsat
Business Saudi Arabia’s consumer price index rises in August from a year earlier - AAWSAT

Saudi Consumer Prices up 3% in August

Saudi Arabia’s consumer price index rose 3% in August from a year earlier, official data showed on Thursday, accelerating from a 2.7% pace in July. Food…

Asharq Al Awsat
Business Abu Dhabi Ports (WAM)

AD Ports Completes Acquisition of Majority Stake in Transmar, Transcargo International

Abu Dhabi Ports Group said on Wednesday it completed the acquisition of a 70 percent equity stake in Egypt’s Transmar International Shipping Company (Transmar)…

Asharq Al Awsat (Abu Dhabi)
Business The head of the Saudi Authority for Data and Artificial Intelligence during the announcement of the launch of the principles of ethics for AI on the sidelines of the Global AI Summit in Riyadh (Asharq Al-Awsat)

Saudi Arabia to Establish World's First ‘Sustainability Center’ Using AI

The Saudi Deputy Minister of Environment, Water and Agriculture Mansour bin Hilal Al-Mushaiti revealed that Google has reached an agreement with Saudi Arabia…

Business  Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)

KSA: Mawani Initiatives Limit Rise in Commodity Prices

The measures and initiatives launched by the Saudi Ports Authority (Mawani) resulted in curbing the sharp rise in global shipping costs, thus limiting the…

Bandar al-Mosalam (Riyadh)
Business ADNOC’s Waste Heat Recovery project is designed to capture exhaust heat from the gas-powered turbines at ADNOC Refining’s General Utilities Plant. (Asharq Al-Awsat)

UAE to Produce 230MW of Electricity Via Waste Heat Recovery Project

The UAE’s Waste Heat Recovery project will recycle waste heat generated from the plant to produce up to an additional 230 megawatts (MW) of electricity per day…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Arabia signs financing agreements to fund infrastructure projects in 2023 and 2024. (Asharq Al-Awsat)

Saudi Ministry Signs Infrastructure Financing Deals Worth $6 Billion

Saudi Arabia’s finance ministry has signed financing agreements with local banks worth SAR25 billion ($6.65 billion) to fund infrastructure projects due to…

Asharq Al Awsat (Riyadh)
Business Water distribution is one of the targeted sectors in the privatization project that the Saudi government is working on (Asharq Al-Awsat)

Saudi Arabia Completes First Phase of Privatizing Water Distribution

Saudi Arabia’s National Water Co. (NWC) has signed two deals worth SR714 million ($190 million) with firms in the private sector to operate water and…

Asharq Al Awsat (Riyadh)
Business Qatar's Emir, Sheikh Tamim bin Hamed al-Thani meets with Egypt's President Abdel Fattah al-Sisi in Doha, Qatar September 13, 2022. Qatar News Agency/Handout via REUTERSREUTERS

Egypt, Qatar Sign Agreements to Boost Cooperation During State Visit

Egypt and Qatar signed three memomoranda of understanding, including one between the two nations' sovereign wealth funds, the Egyptian presidency said on…

Asharq Al Awsat
Business  Salem al-Nuaimi, Chairman of Wio Bank’s Board of Directors, during the inauguration of the platform on Tuesday, September 13, 2022. (WAM)

Digital Bank Wio Launches in UAE

State-backed digital bank Wio announced Tuesday its official launch in the United Arab Emirates, becoming the first platform bank in the region. This…

Asharq Al Awsat (Abu Dahbi )
Business Salik said its business model requires low capital expenditures (Asharq Al-Awsat)

UAE's Salik Aims to Raise $817 Mn in Dubai IPO

vDubai's exclusive tollgate operator, Salik Company, announced the offer price and subscription period for its Initial Public Offering (IPO) on the Dubai…

Asharq Al Awsat (Dubai)
Business The Tammayuz center was launched at the Second Global Artificial Intelligence (AI) Summit in Riyadh on Tuesday. (Asharq Al-Awsat)

Global AI Summit in Riyadh Sees Launch of Center Focused on Facing World Challenges

The Second Global Artificial Intelligence (AI) Summit, underway in Riyadh, witnessed Tuesday the launch of Tammayuz center, which belongs to the “Global AI…

Asharq Al Awsat (Riyadh)
Business Attendees at the Artificial Intelligence Summit review the showcased technologies (Ali al-Dhaheri)

SDAIA Sign Global Strategic Agreements in AI Solutions

The Saudi Data and Artificial Intelligence Authority (SDAIA) signed Tuesday several agreements to develop AI solutions locally and globally and accelerate the…

Asharq Al Awsat (Riyadh)
Business The second edition of the Saudi International Iron and Steel Conference kicked off in Riyadh on Monday. (Asharq Al-Awsat)

Saudi Arabia Seeks to Strengthen Steel Industry

Saudi ministers revealed an endeavor to strengthen the iron and steel industry in the Kingdom, in parallel with plans to launch economic zones and initiatives…

Asharq Al Awsat (Riyadh)
Business The Global Summit on Artificial Intelligence in its first edition, which was held in Riyadh two years ago (Asharq Al-Awsat)

Saudi Arabia Brings Together Policy Makers, Major AI Investors

Under the patronage of Crown Prince Mohammed Bin Salman, chairman of the Board of Directors of the Saudi Data and AI Authority (SDAIA), the second Global…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia to discuss global energy issues at the Maritime Congress in Dammam (Asharq Al-Awsat)

Saudi Maritime Congress to Discuss Global Energy Challenges

Saudi Arabia is preparing for the Saudi Maritime Congress in Dammam to discuss global energy issues, opportunities, and challenges and reinforce industry…

Asharq Al Awsat (Dammam)
Business The value of Egypt’s trade balance deficit reached $3.21 billion in June, down from $3.66 billion for the same month of the previous year. (Asharq Al-Awsat)

Egypt’s Trade Balance Deficit Drops 12.4%

Egypt’s trade deficit declined by 12.4% year-on-year (YoY) in June, according to data released on Monday by the Central Agency for Public Mobilization and…

Asharq Al Awsat (Cairo)
Business Visitors tour the Amman Citadel, Jordan, July 21, 2022. (Reuters)

Jordan’s Public Debt Increases to $41 Bln

Jordan’s public debt rose 1.6 percent to 29.16 billion dinars ($41 billion) in the first half of 2022 from 28.7 billion dinars at the end of 2021. Its…

Asharq Al Awsat (Amman)
Business Mining is one of the sectors targeted to attract investments and diversify sources of income in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Tops Hydrocarbon Producers in Oil, Gas Emissions

Saudi Arabia has been able to score higher than other hydrocarbon producers in many indicators related to the emissions performance of the oil and gas sector. …

Asharq Al Awsat (Riyadh)
Business Cars queue for fuel at a gas station in Beirut, Lebanon June 24, 2021. REUTERS/Mohamed Azakir/Files

Lebanon’s Central Bank Lifts All Expensive Fuel Subsidies

Lebanon's central bank lifted its remaining subsidies on fuel on Monday, gas station owners said, ending a year-long process of scaling back on the expensive…

Asharq Al Awsat