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 Buildings are seen in Riyadh, Saudi Arabia, December 18, 2017. REUTERS/Faisal Al Nasser

Saudi Arabia Is the World’s Largest Incubator of Islamic Financial Assets

Saudi Arabia is the largest incubator of Islamic finance in the world in terms of assets, ranking first with a total of nearly SAR3 trillion ($800 billion)…

Bandar al-Mosalam (Riyadh)
Business Qatar Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani at the Euromoney Conference (Asharq Al-Awsat)

Qatar Central Bank Expects GDP Growth of 3.5% in 2022

Qatar’s gross domestic product (GDP) should grow 3.5% in 2022, Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al-Thani told a conference on Sunday…

Merza al-Khuwaldi (Doha)
Business Part of the signing event of the integrated Industrial Partnership for Sustainable Economic Growth in Abu Dhabi on Sunday, May 29, 2022. (WAM)

UAE, Egypt, Jordan Sign Industrial Partnership in 5 Sectors for Sustainable Economic Growth

The United Arab Emirates, Egypt and Jordan announced on Sunday an integrated Industrial Partnership for Sustainable Economic Growth in Abu Dhabi. The…

Mosaed al-Zayani (Abu Dhabi )
Business The event will run through May 31. (SPA)

Saudi Environment Minister Inaugurates Int'l Fair and Forum on Afforestation Techniques

Saudi Minister of Environment, Water and Agriculture, Chairman of the Board of Directors of the National Center for Vegetation Development and Combating…

Asharq Al Awsat
Business Arab countries could face a food shortage crisis if they do not address the existing challenges. (Asharq Al-Awsat)

Seven Arab States Could Face Food Crisis in Absence of Urgent Solutions

Seven Arab countries are expected to face a stifling food crisis if they don’t address their political and economic crises to face external challenges, topped…

Saeed al-Abyad (Jeddah)
Business A water treatment plant in Egypt. (Asharq Al-Awsat)

Investment Opportunities in Saudi Arabia, Egypt, UAE Shift Attention Away from Africa

Investment opportunities in the Arab markets have emerged, in light of the successive crises that have impacted the global economy, starting with the global…

Sabri Najeh (Cairo)
Business A view shows Iraq's Majnoon oil field near Basra, Iraq, March 27, 2022. (Reuters)

Iraq Proposes Clean Energy Investments to BP, Total

Iraq’s Oil Minister Ihsan Abdul Jabbar held talks in London and Paris with the chief executive officers of the British Petroleum company and France’s Total and…

Asharq Al Awsat (Baghdad)
Business The International Exhibition and Forum on Afforestation Technologies begins in Riyadh on Sunday (AFP)

Saudi Arabia Hosts Forum on Combating Desertification Using Latest Global Technologies

The International Exhibition and Forum on Afforestation Technologies kickstarted in Riyadh on Sunday under the patronage of Crown Prince Mohammed bin Salman. …

Fatehelrahman Yousif (Riyadh)
Business The project is part of Egypt's extensive transport infrastructure investments over the past few years. Reuters

Siemens Mobility Wins $8.7 Billion High-speed Rail Deal in Egypt

Egypt has signed a contract with industrial manufacturing company Siemens' rail and traffic unit and its consortium partners to build about 2,000 kilometers of…

Asharq Al Awsat
Business Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih. Reuters file photo

Saudi Investment Minister to Visit Greece to Expand Strategic Partnership

Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih is set to visit Greece on Sunday at the head of a delegation of government officials,…

Asharq Al Awsat
Business  The value of the palm and date sector in Saudi Arabia amounted to about $2 billion. (SPA)

Saudi Arabia Ranks 1st Globally in Date Exports at $324 Mln

Saudi Arabia has ranked first globally in terms of the value of date exports in 2021, which stood at SAR1.215 billion ($320 million), according to the…

Asharq Al Awsat (Riyadh)
Business Dr. Khalid Alsweilem (Asharq Al-Awsat)

Saudi Economist Appointed Visiting Scholar at Stanford University

The prestigious Stanford University has recently announced appointing a Saudi economist and investment expert as a visiting scholar. Stanford Center for…

Asharq Al Awsat (San Francisco )
Business The Saudi Minister of Housing attends the launch of the Maskan Real Estate Exhibition in Riyadh (Asharq Al-Awsat)

White Lands Program to Register More than 20 Million SQM of Developed Lands in Riyadh

Saudi Arabia’s White Lands Program will register in 20 days more than 20 million square meters of developed lands in Riyadh. The program expects that the…

Asharq Al Awsat (Riyadh)
Business A currency trader counts US dollar banknotes at a currency exchange shop in Beirut, Lebanon, 26 May 2022. (EPA)

Fitch Ratings Warns of Elections’ Impact on Lebanese Economy

A leading international credit ratings agency warned Friday that the results of this month’s parliamentary elections in Lebanon make it difficult for any…

Asharq Al Awsat
Business 25 May 2022, Switzerland, Davos: Khalid al-Falih, Minister of Investment of Saudi Arabia, speaks during the "Saudi Arabia Outlook" session at the World Economic Forum Annual Meeting in Davos-Klosters. (World Economic Forum/dpa)

Al-Falih: We Have Quadrupled Foreign Investment Flows

It might seem somewhat strange for one of the biggest electric car producers to open a factory in one of the world’s major oil-producing countries, but it…

Najlaa Habriri (Davos)
Business Saudi Minister of Commerce Majid al-Qasabi at the event organized by the E-commerce Council in cooperation with the Joint Saudi-British Business Council (Asharq Al-Awsat)

Saudi E-commerce Growth Rate Exceeds 32%

Saudi Arabia is one of the top ten countries in e-commerce, achieving an annual growth rate of more than 32 percent, announced Minister of Commerce Majid al…

Asharq Al Awsat (London)
Business Tourists in traditional Japanese kimonos walk in Asakusa district in Tokyo, July 27, 2020. (AP)

Japan to Resume Tourism in June; Only Packaged Tour for Now

Japan will open its borders to foreign tourists in June for the first time since imposing tight pandemic travel restrictions about two years ago, but only for…

Asharq Al Awsat
Business CEO Alain Bejjani: Majid Al Futtaim will continue to expand in Saudi Arabia (Asharq Al-Awsat)

Bejjani: Digital Investments Boosted Majid Al Futtaim's Resilience During the Pandemic

Digital investments have boosted Majid Al Futtaim's resilience during the COVID-19 pandemic and accelerated its recovery, announced CEO Alain Bejjani. Majid…

Najlaa Habriri (Davos)
Business A man looks at 100-meter-tall wind turbines during sunset at the Electric Power Development Co., Ltd's Nunobiki Plateau Wind Farm in Koriyama, north of Tokyo, Japan, November 8, 2007. REUTERS/Toru Hanai

Tunisia to Launch International Tenders for 2,000 MW of Renewable Power

Tunisia plans to launch international tenders in June this year seeking offers to build 2,000 megawatts of renewable electric power capacity, energy minister…

Asharq Al Awsat
Business The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, US, November 22, 2019. REUTERS/Angus Mordant

Oil Climbs on Tight Supply, Prospect of EU Ban on Russian Crude

Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to…

Asharq Al Awsat
Business Saudi Arabia launches significant partnerships and agreements to boost tourism and hospitality (Asharq Al-Awsat)

Saudi Arabia Launches Major Partnerships, Agreements to Boost Tourism

Several global partnerships and agreements enhancing the tourism sector in Saudi Arabia were accomplished at the Future Hospitality Summit, which concluded…

Fatehelrahman Yousif (Riyadh)
Business A man holds up Lebanese pound banknotes in Beirut, Lebanon October 27, 2021. REUTERS/Issam Abdallah

Lebanese Pound Trades at Record Low of 35,000 to the Dollar

Lebanon's pound traded at a record low of more than 35,000 to the dollar on Thursday, according to currency exchange platforms and traders, as divisions within…

Asharq Al Awsat
Business One in 10 European Households Invest in Cryptocurrencies

One in 10 European Households Invest in Cryptocurrencies

Nearly one in 10 European households has invested in crypto assets, an ECB (European Central Bank) study published Tuesday said, highlighting high demand for…

Asharq Al Awsat (Frankfurt)
Business Kuwaiti government reassures citizens of abundance in food reserves. (Asharq Al-Awsat)

Kuwait Commerce Ministry Says There Are Enough Food Reserves

Kuwait’s basic food supplies are reassuring and are at their highest levels, the Ministry of Commerce and Industry said on Wednesday. It called on citizens…

Asharq Al Awsat (Kuwait)