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 A five-year development agreement was signed between Saudi Arabia and the United Nations to preserve the planet. (Asharq Al-Awsat)

Saudi Arabia, UN Sign 5-Year Environmental Development Cooperation Framework

In view of the contributions and efforts made by Saudi Arabia to preserve the marine environment at the national, regional, and global levels, a five-year…

Asharq Al Awsat
Business The UAE government announced the signing of an agreement with WEF in the development of applications of the Fourth Industrial Revolution. (Asharq Al-Awsat)

UAE Launches ‘Markets of Tomorrow’ Initiative

The UAE government has launched the "Markets of Tomorrow" initiative, in partnership with the World Economic Forum (WEF). The initiative aims to develop…

Asharq Al Awsat (Davos)
Business Google has contributed to advancing economic activity in Egypt through its various products in helping individuals, local businesses, content creators and software developers. (Reuters)

Google Pumped GBP11.2 Billion in Egyptian Economy in 2021

Google directed an estimated 11.2 billion pounds ($61 million) in economic activity in Egypt in 2021, according to the Google Impact Report. The report is…

Asharq Al Awsat (Cairo)
Business Saudi Arabia continues its digital transformation in the financial sector. (Asharq Al-Awsat)

Saudi Arabia Approves Financial Technology Strategy

The Saudi Cabinet approved on Tuesday the Kingdom’s financial technology strategy, a move that experts say would enable and activate modern means in the…

Bandar al-Mosalam (Riyadh)
Business Saudi Arabia signs contracts to boost strategic stocks for agricultural products. (Asharq Al-Awsat)

Saudi Arabia to Import Agricultural Products to Boost Strategic Stocks

Saudi Arabia's Agricultural Development Fund signed a number of financing contracts to import agricultural products worth SAR 367 million riyals ($ 97 million)…

Asharq Al Awsat (Riyadh)
Business The ICT sector’s contribution to the Kingdom’s GDP in Q1 2021 reached 5.48%. (Asharq Al-Awsat)

ICT Sector Could Contribute $53 Bln to Saudi GDP in 2022

The information and communication technology (ICT) sector’s contribution to the Saudi GDP reached SAR 146.9 billion ($39 billion) during the past year, with…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia is hosting the International Exhibition and Conference for Artificial Intelligence and Cloud Computing from May 22 to 24. (Asharq Al-Awsat)

Drones, Technology Localization Top ‘AI’ Discussions in Riyadh

Experts at the International Exhibition and Conference on Artificial Intelligence and Cloud Computing, held in Riyadh, discussed enhancing AI for the drone…

Fatehelrahman Yousif (Riyadh)
Business Forbes Global 2000 included the Ma’aden in the World’s Largest Public Companies List based on its asset value, market value, net income and revenues.

Ma’aden Included on Forbes 2000 List of World’s Largest Public Companies

Forbes Global 2000 has included the Saudi Arabian Mining Company (Ma’aden) in the World’s Largest Public Companies List based on its asset value, market value,…

Asharq Al Awsat
Business An industrial complex at one of Egypt's new industrial cities. (Reuters)

Egypt Announces New Agreement to Develop Industrial Park

Orascom Construction PLC announced that the Suez Industrial Development Company (SIDC), a majority-owned subsidiary, signed an agreement with al-Ahly Capital…

Asharq Al Awsat (Cairo)
Business Panel on the economic outlook for the MENA region at the World Economic Forum in Davos. (Asharq Al-Awsat)

Saudi Finance Minister Expects 7.4% Growth in 2022

Saudi Finance Minister Mohammed al-Jadaan announced that the Kingdom expects a 7.4 percent growth in 2022. Speaking at a panel on the economic outlook for…

Asharq Al Awsat (Davos)
Business A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. (Reuters)

UAE's ADNOC, BP and Masdar Forge Energy Partnership

The Abu Dhabi National Oil Company (ADNOC), oil major BP and Abu Dhabi future energy company Masdar have joined forces to develop clean hydrogen and technology…

Asharq Al Awsat
Business Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. (Reuters)

Aramco CEO Warns of Global Oil Crunch Due to Lack of Investment

The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi…

Asharq Al Awsat
Business NEOM Bay Airport. (SPA)

NEOM and SAUDIA Offer Regular International Flights from NEOM Bay Airport

NEOM and SAUDIA Airlines announced on Monday a strategic partnership to begin offering weekly international flights to selected destinations from NEOM Bay…

Asharq Al Awsat
Business The Saudi Public Investment Fund continues to seize successful opportunities. (Asharq Al-Awsat)

Saudi PIF Acquires 16.8% of Kingdom Holding Company

The Saudi Public Investment Fund has acquired 625 million shares of the Kingdom Holding Company (KHC), representing 16.87 percent, with a total value of 5.6…

Asharq Al Awsat (Riyadh)
Business Part of the opening ceremony of the International Exhibition and Conference on Artificial Intelligence and Cloud Computing in Riyadh, Saudi Arabia (Asharq Al-Awsat)

Expanding Investment in AI Technologies Crucial to Meeting Future Needs

Exceptional times experienced by the world, considering the lessons learned from the coronavirus pandemic and its aftermath, require a broader investment in…

Omar al-Badwi (Riyadh)
Business 05 March 2022, Berlin: A coin bearing the logo of the bitcoin cryptocurrency lies on a table. (dpa)

Crypto Crowd Dominate Davos Main Street despite Price Crash

A free bitcoin pizza stall and a "Liquidity Lounge" were among the treats on offer for attendees at this year's meeting in Davos, where blockchain and…

Asharq Al Awsat
Business One of Borouge’s industrial units in Abu Dhabi. (WAM)

Abu Dhabi-based Borouge Sets IPO Price

Abu Dhabi-headquartered petrochemicals firm Borouge said on Monday it has set the offer price for its initial public offering (IPO), which shows it could raise…

Asharq Al Awsat
Business File: Traders looking at stock exchange graphs. AFP/Jung Yeon-je

Asian Markets Mixed as Inflation Fears Weigh

Asian stocks were mixed Monday as inflation fears and concerns about low economic growth weighed on markets. Investors will be looking to the release on…

Asharq Al Awsat
Business Silos for storing wheat grains in the Egyptian governorate of Qalyubia (Reuters)

Egypt Says Reserves of Strategic Commodities Last for Six Months

Egypt's Supply Minister Ali Moselhy asserted that food security is a top priority, noting that the reserves of strategic commodities can last for six months. …

Asharq Al Awsat
Business The Jordanian capital, Amman (AFP)

Jordan, Germany to Host Middle East and North Africa-Europe Future Energy Dialogue

Jordan’s Energy and Mineral Resources Minister Saleh Kharabsheh and German Federal Minister for Economic Affairs and Climate Action Robert Habeck on Saturday…

Asharq Al Awsat (Amman)
Business Saudi Public Investment Fund (PIF) Governor Yasir Al Rumayyan, Asharq Al-Awsat

Al Rumayyan: Carbon Trading Platform in Saudi Arabia is Evidence of Change

The presence of a carbon trading platform in Saudi Arabia is in itself evidence of change, said the governor of the Saudi Public Investment Fund (PIF), Yasir…

Asharq Al Awsat (London)
Business A shipping container of the China Ocean Shipping Company (COSCO) moves through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. (Reuters)

Egypt Expects Suez Canal Revenues to Hit $7 Bln by End of Fiscal Year

Egypt expects the Suez Canal's revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday. …

Asharq Al Awsat
Business Abeer al-Houkal chairs the periodic meeting of the Businesswomen’s Committee of the Chamber of Commerce and Industry in Riyadh. (Asharq Al-Awsat)

Discussions to Employ Women's Capital in Saudi Investment Projects

Asharq Al-Awsat has learned that the Coordinating Council for Women’s Affairs at the Council of Saudi Chambers intends to involve businesswomen in various…

Bandar al-Mosalam (Riyadh)
Business A carpet vendor displays his stock at a traditional market in Tozeur. (AFP file photo)

Tunisia Expects 9.7% Deficit in 2022 Budget

Tunisia’s budget deficit will expand to 9.7% of GDP this year, compared to a previously expected 6.7%, due to the stronger dollar and sharp increase in grain…

Mongi Saidani (Tunis)