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 GEC Witnesses $8 Billion in Agreements, Investments to Support Saudi Entrepreneurship

GEC Witnesses $8 Billion in Agreements, Investments to Support Saudi Entrepreneurship

The Global Entrepreneurship Congress (GEC), held in Riyadh, witnessed several agreements and investments worth almost $8 billion on its second day. The…

Asharq Al Awsat (Riyadh)
Business Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Minister of Investment Khalid al-Falih announced that visiting Saudi Arabia in 2030 will be an opportunity for work, stability, investment, and future…

Bandar al-Mosalam (Riyadh)
Business Iraqi Kurdistan Has Energy Capacity to Help Europe, Says Iraqi Kurdish PM

Iraqi Kurdistan Has Energy Capacity to Help Europe, Says Iraqi Kurdish PM

The Kurdish region of northern Iraq has the capacity to make up for at least some of the energy shortfall in Europe, Kurdish Prime Minister Masrour Barzani…

Asharq Al Awsat
Business UAE Hopeful of 5%-6% Economic Growth in 2022 and Beyond

UAE Hopeful of 5%-6% Economic Growth in 2022 and Beyond

The United Arab Emirates (UAE) is hoping the economy will grow by 5% to 6% this year as it recovers from the pandemic, and by the same pace over the next few…

Asharq Al Awsat
Business GCC, South Korea Resume Free Trade Talks on Monday

GCC, South Korea Resume Free Trade Talks on Monday

South Korea and the Gulf Cooperation Council (GCC) will kick off the fourth round of official talks for a bilateral free trade agreement (FTA) in Seoul on…

Asharq Al Awsat (Seoul)
Business Abu Dhabi Sovereign Fund Pausing Russia Investments, CEO Says

Abu Dhabi Sovereign Fund Pausing Russia Investments, CEO Says

Abu Dhabi's Mubadala Investment Company is pausing investments in Russia, which represent less than 1% of its portfolio, because of the Ukraine crisis, the…

Asharq Al Awsat
Business Qatar’s Finance Minister Warns of Surge in Food Prices Globally

Qatar’s Finance Minister Warns of Surge in Food Prices Globally

Qatar’s finance minister said on Sunday that energy prices should be fair for both producers and consumers. “We need stable and fair prices that can be…

Merza al-Khuwaldi (Doha)
Business Preparatory Day for WGS Kicks Off Monday with Four Forums

Preparatory Day for WGS Kicks Off Monday with Four Forums

The proceedings of the World Government Summit (WGS) 2022’s preparatory day will kick off through four diverse forums in Dubai on Monday. Senior officials,…

Asharq Al Awsat (Dubai)
Business Special Initiative Supports 10 Arab Companies for Sustainability of Food, Beverage Sector

Special Initiative Supports 10 Arab Companies for Sustainability of Food, Beverage Sector

Global food and beverage company PepsiCo revealed an initiative to support ten companies in the Middle East and North Africa. The program aims to promote…

Asharq Al Awsat (Dubai)
Business Saudi Arabia Aims to 'Reboot, Rethink, and Regenerate' Entrepreneurship

Saudi Arabia Aims to 'Reboot, Rethink, and Regenerate' Entrepreneurship

The Global Entrepreneurship Congress (GEC) seeks to benefit from Saudi Arabia as a platform to reboot, rethink, and regenerate the entrepreneurship system at…

Bandar al-Mosalam (Riyadh)
Business Saudi Arabia Aspires to Lead Global Entrepreneurship in Green Technologies, Nuclear Energy

Saudi Arabia Aspires to Lead Global Entrepreneurship in Green Technologies, Nuclear Energy

The Global Entrepreneurship Congress (GEC) kicked off in Riyadh under the patronage of Crown Prince Mohammed bin Salman, Deputy Prime Minister and Chairman of…

Mosaed al-Zayani (Riyadh)
Business Oil Falls as Shanghai Lockdown Boosts Fears Over Weaker Demand

Oil Falls as Shanghai Lockdown Boosts Fears Over Weaker Demand

Oil prices fell more than $3 on Monday as fears over weaker fuel demand in China grew after its financial hub of Shanghai launched a planned two-stage lockdown…

Asharq Al Awsat
Business Egypt Asserts New IMF Program Won't Entail New Burdens on Citizens

Egypt Asserts New IMF Program Won't Entail New Burdens on Citizens

Egypt's Finance Minister Mohamed Maait said that the new program with the International Monetary Fund (IMF) aims to maintain the economic reform program and…

Asharq Al Awsat (Cairo)
Business S&P Revises Saudi Arabia's Outlook to 'Positive'

S&P Revises Saudi Arabia's Outlook to 'Positive'

Rating agency S&P has revised Saudi Arabia’s outlook to “positive” from “stable”, affirming the kingdom’s long-term foreign currency debt rating at “A-/A-2.” …

Asharq Al Awsat (Riyadh)
Business Int’l Exhibition in Riyadh for Construction, Building Solutions

Int’l Exhibition in Riyadh for Construction, Building Solutions

In a step that enhances Saudi Arabia's economic, commercial and investment activities, Riyadh is preparing to host the “Big Five Saudi” exhibition for…

Fatehelrahman Yousif (Riyadh)
Business Lebanon's Banks Threaten to Sue the State

Lebanon's Banks Threaten to Sue the State

A senior Lebanese official in the financial sector warned that the country was in a severe monetary crisis as a result of explicit duplicity in the state to…

Ali Zeineddine (Beirut)
Business Lebanon’s Mikati Expresses Hope of IMF Accord in Weeks

Lebanon’s Mikati Expresses Hope of IMF Accord in Weeks

A delegation from the International Monetary Fund will start talks in Lebanon on March 29, Prime Minister Najib Mikati said on Saturday, expressing hope of a…

Asharq Al Awsat
Business Uzbek Businesses Encouraged to Enter Saudi Market

Uzbek Businesses Encouraged to Enter Saudi Market

Saudi Arabia’s Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih on Thursday concluded a two-day official visit to Uzbekistan during which he co…

Asharq Al Awsat (Tashkent) Asharq Al Awsat (Riyadh )
Business Saudi Arabia Studies Impact of Key Activities on Competition

Saudi Arabia Studies Impact of Key Activities on Competition

The Saudi General Authority for Competition has approved an initiative to study the agricultural and fish products sector, as well as the building and…

Asharq Al Awsat (Riyadh)
Business US, EU Strike LNG Deal Deal as Europe Seeks to Cut Russian Gas

US, EU Strike LNG Deal Deal as Europe Seeks to Cut Russian Gas

The United States will work to supply 15 billion cubic meters (bcm) of liquefied natural gas (LNG) to European Union markets this year, as Europe seeks to wean…

Asharq Al Awsat
Business Saudi Arabia Seeks to Conclude Investment Protection Agreements with Several Countries

Saudi Arabia Seeks to Conclude Investment Protection Agreements with Several Countries

The Saudi Ministry of Investment is updating the priorities of investment contracts, in accordance with specific technical standards, with the aim to expand…

Bandar al-Mosalam (Riyadh)
Business Dubai Water Authority Announces Offer Price Range and Start of Subscription Period for IPO

Dubai Water Authority Announces Offer Price Range and Start of Subscription Period for IPO

The Dubai Electricity and Water Authority PJSC (DEWA), the exclusive provider of electricity and potable water in Dubai and the majority owner of Empower, the…

Asharq Al Awsat
Business UAE's Barakah Nuclear Plant Doubles Clean Electricity Generation with Start of Commercial Operations at Unit 2

UAE's Barakah Nuclear Plant Doubles Clean Electricity Generation with Start of Commercial Operations at Unit 2

The Emirates Nuclear Energy Corporation (ENEC) announced on Thursday the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant, reported…

Asharq Al Awsat
Business Egypt in Talks with Argentina, India and US on Wheat Imports

Egypt in Talks with Argentina, India and US on Wheat Imports

Egypt is in talks with Argentina, India, France and the United States for future wheat imports but is in no rush to buy at the moment, the supply minister said…

Asharq Al Awsat