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 Tunisian imports of energy increased by about 90% in four months. (Reuters)

Tunisia’s Balance of Trade Deficit Widens in Four Months

Tunisia’s balance of trade deficit widened by 50% to 6.6 billion dinars ($2.2 billion) in the first four months of this year compared to 4.4 billion dinars in…

Mongi Saidani (Tunis)
Business Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies from May 29-31. (Asharq Al-Awsat)

Saudi Arabia to Organize Int'l Forum on Afforestation Techniques

Saudi Arabia will host the International Exhibition and Forum on Afforestation Technologies in Riyadh from May 29-31, under the patronage of Crown Prince…

Asharq Al Awsat (Riyadh)
Business Egyptian Prime Minister Mostafa Madbouly, speaks during a news conference to announce the Egyptian state's vision to deal with the global economic crisis at the headquarters of the Investment Authority in Cairo, Egypt May 15, 2022. (Reuters)

Egypt to Confront Global Economic Crisis with Ambitious Financial Goals

Cairo announced on Sunday a number of ambitious financial goals, in wake of successive global economic crises, the latest of which are the repercussions of the…

Asharq Al Awsat (Cairo)
Business The NEOM project will work within special economic zones that are subject to the sovereignty and economy of the Kingdom. (Twitter)

Official Source: NEOM Is Fully Subject to Sovereignty of Saudi Arabia

NEOM is considered one of the Public Investments Fund's major strategic projects that is absolutely subject to the sovereignty and systems of Saudi Arabia,…

Asharq Al Awsat
Business The Public Investment Fund (PIF) announces the launch of the Saudi Coffee Company. (PIF)

PIF Launches Saudi Coffee Company to Further Enable Kingdom’s Food and Agriculture Sector

The Public Investment Fund (PIF) announced on Sunday the launch of the Saudi Coffee Company. The company has been established to enable Saudi Arabia’s coffee…

Asharq Al Awsat
Business Oil tanks are seen at the gas field of Siba in Basra, Iraq April 25, 2018. (Reuters)

OPEC Authorizes Iraq to Increase Output to 4.5 Mln Bpd

Iraq’s representative at OPEC said the organization had agreed to the country increasing its output to 4.5 million barrels of oil per day (bpd) starting from…

Asharq Al Awsat (London)
Business UK Deputy Ambassador to the Kingdom of Saudi Arabia Anna Walters

London, Riyadh to Ensure Sustainable Solutions Meeting Global Energy Needs

A British diplomat stressed that her country would work closely with Saudi Arabia as one of the strategic partners to ensure sustainable solutions that meet…

Fatehelrahman Yousif (Riyadh)
Business A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

Saudi Aramco's First-quarter Profits Surge 80%

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year. The state-backed company’s first-quarter earnings…

Asharq Al Awsat
Business Tunisian Prime Minister Najla Bouden and her Egyptian counterpart Mostafa Madbouly during the activities of the Tunisian- Egyptian Economic Forum. (EPA)

Tunis, Cairo Seek Doubling Trade Exchange

The Tunisian-Egyptian Economic Forum kicked off on Thursday at the headquarters of the Export Promotion Center in the Tunisian capital. Tunis and Cairo…

Asharq Al Awsat (Tunis)
Business Saudi delegation discusses the development of the space sector through cooperation with US companies (Asharq Al-Awsat)

Saudi, US Companies Invest in Saudi Space Sector

A high-ranking Saudi delegation visited the US and succeeded in establishing investments and development partnerships in the space sector. The meetings…

Asharq Al Awsat (Riyadh)
Business Over the fiscal year, Emirates carried 19.6 million passengers, up from 6.6 million in the same period of the previous year. (Asharq Al-Awsat)

Emirates Group Cuts Annual Losses, Expects Profitability by 2023

The Emirates Group released on Friday its 2021-22 annual report, which showed strong recovery across its businesses. Emirates airline announced a …

Asharq Al Awsat (Dubai)
Business The Saudi Ministry of Commerce has taken measures to address the high prices of cars and their shortage in the local market (Asharq Al-Awsat).

Saudi Arabia Adopts Measures to Address Vehicle Shortage

The Saudi Ministry of Commerce has adopted a number of measures to address the problem of high car prices and their unavailability in the local market. …

Asharq Al Awsat (Riyadh)
Business Youssef Al-Benyan, Vice Chairman and CEO of SABIC, announces the company’s financial results in the first quarter of 2022. (Asharq Al-Awsat)

SABIC President to Asharq Al-Awsat: The Ukrainian Crisis has Pushed the Diversification of our Products

Youssef Al-Benyan, Vice Chairman and CEO of SABIC, said that the Russian-Ukrainian war has strengthened the diversification of the company’s products and…

Bandar al-Mosalam (Riyadh)
Business The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)

Saudi Stock Index Loses Nearly 1,000 Points within a Week

Saudi Arabia’s Tadawul All Share Index (TASI) dropped 4.1% by 542 points on Thursday, to close at 12,837 points, with the total value of traded shares reaching…

Asharq Al Awsat (Riyadh)
Business Officials of Saudi Aramco and Thailand’s PTT signing an MoU on Thursday, May 12, 2022. (Asharq Al-Awsat)

Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand. The MoU targets the supply and…

Asharq Al Awsat (Riyadh)
Business Solar panels are seen at the Desert Stateline project near Nipton, California, US August 16, 2021. REUTERS/Bridget Bennett

Lebanon Issues 11 Licenses for Small-scale Solar Power Projects

The Lebanese government has issued licenses to 11 companies to construct solar power plants capable of producing 15 megawatts each, energy minister Walid…

Asharq Al Awsat
Business A oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann/File Photo

Oil Slips on Fears Recession May Hit Demand

Oil prices fell on Thursday in a volatile week as recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in…

Asharq Al Awsat
Business Future Aviation Forum, Asharq Al-Awsat

Saudi Arabia Adopts Riyadh Aviation Declaration

The Future Aviation Forum, hosted by the Saudi General Authority of Civil Aviation from 9 to 11 May in Riyadh, witnessed the announcement of Saudi Arabia…

Asharq Al Awsat (Riyadh)
Business The Saudi delegation's meeting to review economic cooperation opportunities in the Netherlands (Asharq Al-Awsat)

Saudi Delegation Visits Netherlands to Boost Economic, Commercial Partnership

The Saudi government says it wants to boost commercial and economic partnership in priority areas with the Netherlands. A Saudi delegation, headed by Vice…

Asharq Al Awsat (Riyadh)
Business UAE's First Auction of Federal Treasury Bonds Achieves Bids Worth $400 Million

UAE's First Auction of Federal Treasury Bonds Achieves Bids Worth $400 Million

The first auction of the dirham denominated UAE Treasury Bonds (T-Bonds), with a benchmark auction size of AED1.5 billion ($400 million), drew bids worth AED9…

Asharq Al Awsat (Dubai)
Business GFH Announces Net Profit of $19.1 Million in Q1

GFH Announces Net Profit of $19.1 Million in Q1

GFH Financial Group (GFH) has announced a net profit attributable to shareholders of $19.11 million for the first quarter of the year ended on March 31, 2022,…

Asharq Al Awsat (Manama)
Business Tunisia Says Talks with IMF Positive, Committed to Paying Debts

Tunisia Says Talks with IMF Positive, Committed to Paying Debts

Tunisian Finance Minister Sihen Boughiri said on Wednesday that initial talks with the International Monetary Fund were positive and that Tunis was committed…

Asharq Al Awsat
Business Dubai Restructures Municipality, Seeks Economic Opportunities Worth $2.7 Bln

Dubai Restructures Municipality, Seeks Economic Opportunities Worth $2.7 Bln

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai announced Tuesday a new comprehensive structure for Dubai Municipality…

Asharq Al Awsat (Dubai)
Business Saudi Arabia Calls for Adoption of Sustainable Global Aviation

Saudi Arabia Calls for Adoption of Sustainable Global Aviation

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser announced that the Kingdom would be hosting the Future of Aviation conference every two…

Bandar al-Mosalam (Riyadh)