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 Sudan Inflation Slows in Feb to 258.40%

Sudan Inflation Slows in Feb to 258.40%

Sudan’s annual inflation slowed to 258.40% in February, from 259.8% in January, the statistics bureau said on Tuesday. The Central Bureau of Statistics…

Asharq Al Awsat (Khartoum)
Business Bahrain Targets 5% Increase in Non-Oil Sector

Bahrain Targets 5% Increase in Non-Oil Sector

Bahrain targets a 5% increase in the non-oil economic sector in 2022, said a report published by the Bahrain News Agency BNA. It pointed out that the…

Asharq Al Awsat (Manama)
Business UAE Announces Intent to Begin Bilateral Trade Talks with Australia

UAE Announces Intent to Begin Bilateral Trade Talks with Australia

The United Arab Emirates announced on Thursday its intent to begin talks with Australia about a Comprehensive Economic Partnership Agreement to boost bilateral…

Asharq Al Awsat
Business Saudi Arabia Approves Loans for Agricultural Imports

Saudi Arabia Approves Loans for Agricultural Imports

Saudi Arabia's Agricultural Development Fund (ADF) approved loans worth 861 million riyals ($229.49 million) to finance agricultural imports, the government…

Asharq Al Awsat
Business Egypt Raises Local Wheat Procurement Price by 65 EGP

Egypt Raises Local Wheat Procurement Price by 65 EGP

Egypt's cabinet on Wednesday agreed to add 65 Egyptian pounds ($4.15) per ardeb (150 kilograms) to its procurement price of local wheat as an incentive for…

Asharq Al Awsat
Business World Bank: Economic Digitalization in Middle East Can Generate $1.6 Trillion in Gains

World Bank: Economic Digitalization in Middle East Can Generate $1.6 Trillion in Gains

The World Bank said the full digitization of the economy in the Middle East and North Africa could raise GDP per capita by at least 46 percent over 30 years,…

Sabri Najeh (Cairo)
Business Saudi Arabia Seeks New Markets, Promising Investments in Africa

Saudi Arabia Seeks New Markets, Promising Investments in Africa

Saudi Minister of Commerce, Majid al-Qasabi underscored the Kingdom's readiness to support cooperative efforts to achieve economic and social development in…

Fatehelrahman Yousif (Riyadh)
Business Venture Capital Investments on the Rise in Saudi FinTech

Venture Capital Investments on the Rise in Saudi FinTech

The governor of Saudi Central Bank (Sama), Fahad al-Mubarak, announced that growth in financial technology companies (FinTech) contributed to the provision of…

Asharq Al Awsat (Riyadh)
Business IEA: 3 Mln bpd of Russian Oil Could Be Shut in Next Month

IEA: 3 Mln bpd of Russian Oil Could Be Shut in Next Month

Three million barrels per day (bpd) of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the…

Asharq Al Awsat
Business Dubai Electricity and Water Authority to List 6.5% of Shares on DFM

Dubai Electricity and Water Authority to List 6.5% of Shares on DFM

Dubai Electricity and Water Authority PJSC (DEWA) has announced it will list 6.5 percent of its existing shares as part of an initial public offering (IPO) on…

Asharq Al Awsat (Dubai)
Business Binance Gets its First Gulf Crypto License

Binance Gets its First Gulf Crypto License

The world's largest cryptocurrency exchange Binance announced this week that it has been granted a crypto-asset service provider license from the Central Bank…

Asharq Al Awsat (Manama)
Business Cruise Saudi Appoints Lars Clasen as Chief Executive Officer

Cruise Saudi Appoints Lars Clasen as Chief Executive Officer

Cruise Saudi - a 100% Public Investment Fund-owned business - is pleased to announce the appointment of Lars Clasen as the company’s Chief Executive Officer…

Asharq Al Awsat
Business Saudi Aramco Awards Schlumberger Gas Drilling Project

Saudi Aramco Awards Schlumberger Gas Drilling Project

Schlumberger announced on Tuesday a major contract award by Saudi Aramco for integrated drilling and well construction services in a gas drilling project. …

Asharq Al Awsat
Business Saudi Arabia, Thailand Agree to Boost Investment

Saudi Arabia, Thailand Agree to Boost Investment

Saudi Arabia and Thailand agreed on Monday to strengthen economic ties and boost investment between both countries. This came as Deputy Chairman of the…

Asharq Al Awsat (Riyadh)
Business Riyadh, Vienna Eye More Cooperation, Promoting Environmental, Water Protection

Riyadh, Vienna Eye More Cooperation, Promoting Environmental, Water Protection

Austrian Minister for Digital and Economic Affairs Margarete Schramböck clearly admitted that the current Russian-Ukrainian war has exposed Europe’s urgent…

Fatehelrahman Yousif (Riyadh)
Business Saudi Arabia Eyes Increasing Foreign Investments 20-Fold

Saudi Arabia Eyes Increasing Foreign Investments 20-Fold

Saudi Minister of Investment Khalid Al-Falih announced that the implementation of the Kingdom's National Investment Strategy increases the volume of foreign…

Fatehelrahman Yousif (Riyadh)
Business Oil Tumbles to 2-Week Low on Ukraine Talks, Fears over China Demand

Oil Tumbles to 2-Week Low on Ukraine Talks, Fears over China Demand

Oil prices extended losses on Tuesday, sliding to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions and…

Asharq Al Awsat
Business Saudi Crown Prince Launches New Strategy for National Development Fund

Saudi Crown Prince Launches New Strategy for National Development Fund

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister, and Chairman of the National Development Fund (NDF), launched on Monday the Fund’s strategy. …

Asharq Al Awsat
Business Egypt Takes Measures to Control Markets

Egypt Takes Measures to Control Markets

The Federation of Egyptian Chambers of Commerce (FEDCOC) has revealed a drop in prices of vegetables and fruits, following government measures to control the…

Asharq Al Awsat (Cairo)
Business Saudi Arabia, Belgium, Luxembourg Establish Business Council

Saudi Arabia, Belgium, Luxembourg Establish Business Council

The Federation of Saudi Chambers and the Arab-Belgian-Luxembourg Chamber of Commerce signed a memorandum of understanding (MoU) to establish the Saudi-Belgian…

Fatehelrahman Yousif (Riyadh)
Business Saudi-Greek Map Establishes Effective Economic, Trade Partnership

Saudi-Greek Map Establishes Effective Economic, Trade Partnership

Saudi Arabia and Greece aim to increase their economic, investment, and trade cooperation. The Saudi Ministry of Investment organized Sunday the Saudi-Greek…

Fatehelrahman Yousif (Riyadh)
Business Most Asian Markets Down as Traders Track Ukraine Invasion

Most Asian Markets Down as Traders Track Ukraine Invasion

Asian markets mostly fell Monday as traders track developments in the Ukraine war and diplomatic efforts to bring the crisis to an end, while this week's…

Asharq Al Awsat
Business Algeria Bans Exporting Foodstuffs

Algeria Bans Exporting Foodstuffs

Algeria has banned exporting foodstuffs it imports such as sugar, vegoil, pasta, semolina and wheat derivatives, the state news agency APS said on Sunday. …

Asharq Al Awsat
Business Oman to List 35 State-Owned Companies in 5 Years, Says Bourse CEO

Oman to List 35 State-Owned Companies in 5 Years, Says Bourse CEO

Oman aims to list 35 state-owned enterprises in the next five years and plans to take one or two oil companies public this year, the CEO of the Muscat Stock…

Asharq Al Awsat