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 Abu Dhabi’s AD Ports Eyes Trade Routes, Acquisitions

Abu Dhabi’s AD Ports Eyes Trade Routes, Acquisitions

Abu Dhabi's AD Ports Group (ADPORTS.AD) plans to develop extensive trade corridors connecting the United Arab Emirates, with the Middle East, the subcontinent,…

Asharq Al Awsat
Business Saudi Arabia Pledges to Continue to Work on Circular Carbon Economy

Saudi Arabia Pledges to Continue to Work on Circular Carbon Economy

Saudi Energy Minister Prince Abdulaziz bin Salman said his country intended to pump more oil and reach a target of 13.5 million barrels per day by 2027,…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia Adopts Smart City Strategy

Saudi Arabia Adopts Smart City Strategy

Saudi Arabia has adopted a new strategy for smart cities, which aims to transform the municipal and residential sector services into smart services through…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia Issues E-Billing to Support SMEs

Saudi Arabia Issues E-Billing to Support SMEs

The Saudi cabinet announced that the Zakat, Tax and Customs Authority has the right to offer financial support to targeted institutions on the e-billing list…

Bandar al-Mosalam (Riyadh)
Business First Abu Dhabi Makes Offer for Egypt’s Investment Bank EFG Hermes

First Abu Dhabi Makes Offer for Egypt’s Investment Bank EFG Hermes

First Abu Dhabi Bank has made an offer to buy a controlling stake in Egypt's biggest investment bank EFG Hermes that values the North African lender at $1.1…

Asharq Al Awsat
Business AD Ports Group Raises $1 Billion of Cash Proceeds Upon Trading Its Shares

AD Ports Group Raises $1 Billion of Cash Proceeds Upon Trading Its Shares

Abu Dhabi Ports Group began trading for the first time Tuesday on Abu Dhabi’s stock exchange, following a $1.1 billion capital raise from a primary issuance…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Sukuk Issuance to Increase by 37 Percent

Saudi Sukuk Issuance to Increase by 37 Percent

Saudi sukuk issuances increased by 37 percent during the past year on an annual basis, according to S&P Global Ratings. The announcement was made as the…

Asharq Al Awsat (Riyadh)
Business Bahrain Launches Golden Residency Visa

Bahrain Launches Golden Residency Visa

The Bahraini government announced the launch of the Golden Residency Visa, part of a series of economic initiatives within the Economic Recovery Plan. The…

Asharq Al Awsat (Manama)
Business Egypt Ramps Up Oil, Gas Production Amid Increase in Oil Prices

Egypt Ramps Up Oil, Gas Production Amid Increase in Oil Prices

Egyptian Minister of Petroleum, Tarek El-Molla, stressed the need for intense efforts to implement an action plan that would meet the goals of increasing oil…

Asharq Al Awsat (Cairo)
Business Saudi Arabia’s World Defense Show to Feature Industry Giants

Saudi Arabia’s World Defense Show to Feature Industry Giants

Under the patronage of King Salman bin Abdulaziz, Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field…

Bandar al-Mosalam (Riyadh)
Business Kuwaiti Companies to Invest $90 Mln in Eastern Saudi Arabia

Kuwaiti Companies to Invest $90 Mln in Eastern Saudi Arabia

Kuwaiti investors have signed two investment contracts with the Eastern Province Municipality in Saudi Arabia to establish entertainment centers and a…

Asharq Al Awsat (Dammam)
Business Egypt to Boost Suez Canal Economic Zone as it Hosts COP27

Egypt to Boost Suez Canal Economic Zone as it Hosts COP27

The Egyptian government is seeking to reinforce the role of the Suez Canal Economic Zone (SCZone) as Egypt hosts the United Nations Climate Conference (COP27)…

Asharq Al Awsat (Cairo)
Business World Bank Suggests Pricing Cost of Air Pollution in the Middle East

World Bank Suggests Pricing Cost of Air Pollution in the Middle East

A World Bank report suggests pricing the cost of air pollution and reforming fossil fuel subsidies and creating markets for emissions, along with offering…

Sabri Najeh (Cairo)
Business Dental Conference in Dubai Generates Business Deals Worth $3.9 Billion

Dental Conference in Dubai Generates Business Deals Worth $3.9 Billion

The UAE International Dental Conference and Arab Dental Exhibition – AEEDC Dubai 2022 has generated record-breaking business deals worth $3.9 billion ($14.4…

Asharq Al Awsat (Dubai)
Business GAMI Establishes Human Capital Roadmap in Saudi Military Industries

GAMI Establishes Human Capital Roadmap in Saudi Military Industries

The Saudi General Authority for Military Industries (GAMI) launched the human capital strategy for the local military industries sector. Saudi ministers…

Bandar al-Mosalam (Riyadh)
Business Uber’s Mideast Business Careem Looking to Fill over 200 Jobs, LinkedIn Post Says

Uber’s Mideast Business Careem Looking to Fill over 200 Jobs, LinkedIn Post Says

Uber's Middle East business Careem said on Monday it was looking to fill more than 200 roles in the company, according to a LinkedIn post by the company. …

Asharq Al Awsat
Business Report Highlights Saudi Incentives for New Technologies, 4th Industrial Revolution Solutions

Report Highlights Saudi Incentives for New Technologies, 4th Industrial Revolution Solutions

A recent report revealed five advantages and incentives to enable Saudi Arabia to implement the technologies and solutions of the Fourth Industrial Revolution,…

Bandar al-Mosalam (Riyadh)
Business What Happens to Europe’s Energy If Russia Acts?

What Happens to Europe’s Energy If Russia Acts?

Fears are rising about what would happen to Europe’s energy supply if Russia were to invade Ukraine and then shut off natural gas exports in retaliation for US…

Asharq Al Awsat
Business Saudi Arabia Raises March Crude Prices to Asia

Saudi Arabia Raises March Crude Prices to Asia

Saudi Aramco has raised prices for all crude grades it sells to Asia in March from February, in line with market expectations. The world's top oil exporter…

Asharq Al Awsat (London)
Business Substantive Outcomes at ‘LEAP’ Int’l Conference in Saudi Arabia

Substantive Outcomes at ‘LEAP’ Int’l Conference in Saudi Arabia

The inaugural edition of LEAP has set new records for a debut technology event, attracting over 100,000 registered attendees from more than 80 countries. Over…

Asharq Al Awsat (Riyadh)
Business Egypt Eyes Bread Subsidy Overhaul as Global Inflation Bites

Egypt Eyes Bread Subsidy Overhaul as Global Inflation Bites

Egypt is considering replacing a popular bread subsidy with cash payments for the poor to protect the budget from soaring global wheat prices, but domestic…

Asharq Al Awsat (Cairo)
Business UAE's Flydubai Adds AlUla to its Network in Saudi Arabia

UAE's Flydubai Adds AlUla to its Network in Saudi Arabia

Flydubai, the Dubai-based airline, announced the start of flights to AlUla in Saudi Arabia, becoming the first UAE carrier to operate this route from Dubai. …

Asharq Al Awsat
Business Dubai to Switch Upcoming Coal-Powered Plant to Natural Gas

Dubai to Switch Upcoming Coal-Powered Plant to Natural Gas

A planned $3.4 billion coal-fired power plant in Dubai will be converted to use natural gas, the sheikhdom announced. The announcement came in a statement…

Asharq Al Awsat
Business Oman Signs Three MoUs with Saudi Fund for Development

Oman Signs Three MoUs with Saudi Fund for Development

Oman’s Finance Ministry signed on Thursday three Memorandums of Understandings (MoUs) with the Saudi Fund for Development (SFD) to finance several projects…

Asharq Al Awsat (Muscat)