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 Technology, Investments Boost Saudi Arabia's Shift to Digital Economy

Technology, Investments Boost Saudi Arabia's Shift to Digital Economy

LEAP 2022, the global technology platform, uncovered Saudi Arabia's readiness to address technical solutions and requirements that can address future…

Fatehelrahman Yousif (Riyadh) Bandar al-Mosalam (Riyadh)
Business ADNOC Announces Gas Find in Abu Dhabi Offshore Blocks

ADNOC Announces Gas Find in Abu Dhabi Offshore Blocks

The Abu Dhabi National Oil Company (ADNOC) announced on Thursday the discovery of natural gas resources off Abu Dhabi. Interim results from the first…

Asharq Al Awsat
Business Tunisia’s Finance Minister: State Sector Wages ‘Not Under Threat in Coming Months’

Tunisia’s Finance Minister: State Sector Wages ‘Not Under Threat in Coming Months’

Tunisian Finance Minister Sihem Boughdiri said on Wednesday that state sector wages were “not under threat in the coming months” despite the difficulties and…

Asharq Al Awsat (Tunis)
Business OPEC+ to Stick to Policy Despite Oil Price Rally

OPEC+ to Stick to Policy Despite Oil Price Rally

OPEC+ will likely stick to existing policies of moderate output increases even as it expects demand to rise to new peaks this year and as oil prices trade…

Asharq Al Awsat
Business Turkey’s Inflation Surges to Two-Decade High of 48.7%

Turkey’s Inflation Surges to Two-Decade High of 48.7%

Turkey's annual inflation soared to a 20-year high of 48.69% in January, data showed on Thursday, fueled by President Tayyip Erdogan's push for unorthodox…

Asharq Al Awsat
Business SABIC Purchases Clariant’s 50% Share in Scientific Design

SABIC Purchases Clariant’s 50% Share in Scientific Design

Saudi Arabia’s SABIC has signed an agreement to purchase Clariant’s 50 percent stake in specialties company Scientific Design, currently a 50/50 joint-venture…

Asharq Al Awsat (Riyadh)
Business DP World Signs MoU with Angola’s Government

DP World Signs MoU with Angola’s Government

DP World and the Government of Angola signed Wednesday a Memorandum of Understanding (MoU) with the aim of cooperating to further develop the country’s trade…

Asharq Al Awsat (Abu Dhabi)
Business Abdulaziz bin Salman: Energy Security Essential to Growth, Facing Climate Challenges

Abdulaziz bin Salman: Energy Security Essential to Growth, Facing Climate Challenges

Saudi Energy Minister Prince Abdulaziz bin Salman said Wednesday that the Kingdom was committed to its pledges to reduce carbon emissions and address the…

Fatehelrahman Yousif (Riyadh)
Business SABB, Siemens Sign Deal to Create Smart Building Technology

SABB, Siemens Sign Deal to Create Smart Building Technology

The Saudi British Bank (SABB) has signed an agreement with Siemens to provide smart building services for SABB’s new headquarters, making the 30-story tower a…

Asharq Al Awsat
Business Schneider Electric Says to Put Spotlight on Digital Transformation at Riyadh Conference

Schneider Electric Says to Put Spotlight on Digital Transformation at Riyadh Conference

Schneider Electric has announced its participation in the inaugural LEAP conference, taking place at the Riyadh Front Expo Center. The company will highlight…

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Business Education For Employment (EFE), Citi Foundation Link Saudi Youth to Jobs

Education For Employment (EFE), Citi Foundation Link Saudi Youth to Jobs

In continued support to Saudi Vision 2030’s mission of empowering youth with opportunities, the Citi Foundation and Education For Employment (EFE) in Saudi…

Asharq Al Awsat (Riyadh)
Business Tunisia Targets IMF Deal in April, Says State Salaries Secure

Tunisia Targets IMF Deal in April, Says State Salaries Secure

Tunisia hopes to seal a funding agreement with the IMF in April, its finance minister said on Wednesday, adding that public sector salaries were not at risk…

Asharq Al Awsat
Business Inflation in 19 Countries Using the Euro Hits Another Record

Inflation in 19 Countries Using the Euro Hits Another Record

Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row, extending pain for consumers and sharpening questions about…

Asharq Al Awsat
Business DP World Starts Construction of Banana Port in Congo

DP World Starts Construction of Banana Port in Congo

DP World, the world's leading provider of smart logistics, and the Government of the Democratic Republic of the Congo (DRC), Tuesday laid the first stone to…

Asharq Al Awsat (Dubai)
Business All Measures Will Be Taken to 'Kuwaitize' Oil Sector, Says Minister

All Measures Will Be Taken to 'Kuwaitize' Oil Sector, Says Minister

Kuwait’s Deputy Prime Minister and Minister of Oil, Electricity, Water and Renewable Energy Dr. Mohammad Al-Fares, said that "Kuwaitization" as a policy is…

Asharq Al Awsat (Kuwait)
Business ‘Free Trade’ to Enhance Growth of Gulf-South Korean Transactions, Investments

‘Free Trade’ to Enhance Growth of Gulf-South Korean Transactions, Investments

Experts are forecasting that the free trade agreement recently signed between the Gulf Cooperation Council (GCC) and South Korea will find its way into force…

Fatehelrahman Yousif (Riyadh)
Business Saudi Aramco Buys 7.4% Stake in Norwegian Software Firm Cognite

Saudi Aramco Buys 7.4% Stake in Norwegian Software Firm Cognite

Saudi Aramco has bought a 7.4% stake in Norwegian industrial software group Cognite from oil firm Aker BP, Cognite said on Wednesday. The price for the…

Asharq Al Awsat
Business Saudi Arabia Announces $6.4 Billion Investments in Future Tech

Saudi Arabia Announces $6.4 Billion Investments in Future Tech

Saudi Arabia showcased its huge potential as a regional hub for technology and innovation, which is one of the goals of its Vision 2030. Riyadh kicked off…

Fatehelrahman Yousif (Riyadh) Bandar al-Mosalam (Riyadh)
Business ACWA Power Signs MoU with Saudi EXIM

ACWA Power Signs MoU with Saudi EXIM

ACWA Power, a leading developer, investor and operator of power generation, desalinated water and green hydrogen plants, signed on Monday a Memorandum of…

Asharq Al Awsat (Riyadh)
Business Egypt Rejoins JP Morgan Emerging Market Bond Index

Egypt Rejoins JP Morgan Emerging Market Bond Index

Egypt joined the JP Morgan Emerging Market Bond Index (EMBI) Monday to become the second country in the Middle East and Africa to be listed in the index. A…

Asharq Al Awsat (Cairo)
Business Saudi Arabia Says Has $1.3 Trillion Worth of Untapped Mineral Deposits

Saudi Arabia Says Has $1.3 Trillion Worth of Untapped Mineral Deposits

Saudi Arabia has over 5,300 mining sites, valued at about $1.3 trillion, containing a number of the most abundant minerals, such as gold, silver, copper, zinc,…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia to Launch LEAP Conference on Tuesday

Saudi Arabia to Launch LEAP Conference on Tuesday

LEAP, the global technology platform, will kick off in Saudi Arabia on Tuesday with the participation of more than 350 speakers from 80 countries and 700…

Bandar al-Mosalam (Riyadh)
Business Lebanon Plan Sees 93% Currency Slide, Turns Bulk of FX Deposits to Pounds

Lebanon Plan Sees 93% Currency Slide, Turns Bulk of FX Deposits to Pounds

A government plan for tackling Lebanon's financial crisis projects a 93% devaluation of the Lebanese pound and converts the bulk of hard currency deposits in…

Asharq Al Awsat
Business UAE to Introduce Corporate Tax Next Year, Says Finance Ministry

UAE to Introduce Corporate Tax Next Year, Says Finance Ministry

The United Arab Emirates will introduce a corporate tax from mid-2023, the finance ministry said Monday, as the country seeks to diversify its income. The…

Asharq Al Awsat