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 Lebanon's Central Bank Sets New Rate for Withdrawals from Dollar Deposits

Lebanon's Central Bank Sets New Rate for Withdrawals from Dollar Deposits

Lebanon's central bank said on Thursday it had set a new rate of 8,000 Lebanese pounds to the US dollar for withdrawals from bank deposits denominated in…

Asharq Al Awsat
Business Saudi Arabia, Qatar Sign Six Private Sector Cooperation Agreements

Saudi Arabia, Qatar Sign Six Private Sector Cooperation Agreements

A forum organized by the Qatar Chamber of Commerce and Industry in cooperation with the Federation of Saudi Chambers on Wednesday saw the signing of a package…

Asharq Al Awsat (Dammam)
Business Oil Adds to Gains as Worries Over Omicron Ease

Oil Adds to Gains as Worries Over Omicron Ease

Oil prices rose on Thursday, extending gains into a fourth session on positive comments from vaccine makers about their efficacy against the Omicron variant,…

Asharq Al Awsat
Business UAE’s Mubadala Acquires 1.9% Stake in Russia’s Sibur

UAE’s Mubadala Acquires 1.9% Stake in Russia’s Sibur

Mubadala Investment Company, the Abu Dhabi-based sovereign investor managing a global portfolio of assets valued at $243 billion, has announced its largest…

Asharq Al Awsat
Business Qatari, Saudi Business Sectors Open Economic, Investment Cooperation Talks

Qatari, Saudi Business Sectors Open Economic, Investment Cooperation Talks

The Council of the Federation of Saudi Chambers and the Qatar Chamber on Wednesday organized and held a Saudi-Qatari business forum in Doha. The meeting, which…

Merza al-Khuwaldi (Dammam)
Business Sudan Cut off from $650 Million of International Funding after Coup

Sudan Cut off from $650 Million of International Funding after Coup

Sudan was unable to access $650 million in international funding in November when assistance was paused after a coup, the finance minister of the dissolved…

Asharq Al Awsat
Business Dubai Financial Market Announces New Trading Hours from Monday to Friday

Dubai Financial Market Announces New Trading Hours from Monday to Friday

Dubai Financial Market announced new trading hours from Monday to Friday come into effect on Jan. 3 2022, with a five-hour trading session between 10 a.m. and…

Asharq Al Awsat
Business Oil Prices Ease as Investors Wait for More on Omicron's Potential Impact

Oil Prices Ease as Investors Wait for More on Omicron's Potential Impact

Oil prices eased on Wednesday, taking a breather after gains earlier this week, as investors waited for more information on to what extent the Omicron…

Asharq Al Awsat
Business Saudi-Emirati Business Forum Held During Saudi Crown Prince’s Visit

Saudi-Emirati Business Forum Held During Saudi Crown Prince’s Visit

The Council of Saudi Chambers, the Federation of UAE Chambers of Commerce and Industry, and the Abu Dhabi Chamber of Commerce and Industry hosted a Saudi…

Asharq Al Awsat (Riyadh)
Business UAE, India Launch Strategic Joint Venture for $2 Billion Chemicals Projects in Ruwais

UAE, India Launch Strategic Joint Venture for $2 Billion Chemicals Projects in Ruwais

Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) and India’s Reliance Industries Limited (RIL) have agreed to launch TA’ZIZ EDC & PVC, a world-scale…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Aramco, BlackRock Sign $15.5bn Gas Pipeline Deal

Saudi Aramco, BlackRock Sign $15.5bn Gas Pipeline Deal

Saudi Aramco said it has signed a $15.5 billion lease and leaseback agreement for its gas pipeline network with a consortium led by BlackRock Real Assets and…

Asharq Al Awsat
Business Saudi Arabia, Oman Sign Five MoUs in Commercial, Media Fields

Saudi Arabia, Oman Sign Five MoUs in Commercial, Media Fields

Saudi Arabia and the Sultanate of Oman signed five memoranda of understanding (MoU) in the commercial and media fields on Tuesday. This came on the…

Asharq Al Awsat
Business Oil Rebounds Following Saudi Arabia’s Decision to Raise Crude Price

Oil Rebounds Following Saudi Arabia’s Decision to Raise Crude Price

Oil prices rebounded on Monday after Saudi Arabia, the world’s largest oil exporter, raised the prices of its crude sold to Asia and the United States. …

Asharq Al Awsat (London)
Business Egypt Collects 2,700 Tons of Plastic in 2021

Egypt Collects 2,700 Tons of Plastic in 2021

The private sector in Egypt has collaborated with the government to reduce carbon emissions and get rid of environmental pollutants safely, in line with Egypt…

Asharq Al Awsat (Cairo)
Business Saudi Arabia’s Buys 4.6 Million Tons of Wheat in 2021

Saudi Arabia’s Buys 4.6 Million Tons of Wheat in 2021

Saudi Arabia’s main state wheat buying agency, the Saudi Grains Organization (SAGO), has purchased an estimated 689,000 tons of wheat in an international…

Asharq Al Awsat (Riyadh)
Business Saudi’s Tadawul IPO 442.53% Oversubscribed

Saudi’s Tadawul IPO 442.53% Oversubscribed

Shares of Tadawul group will begin trading on the main market on Wednesday, Dec. 8. The individual subscribers’ tranche of Tadawul’s initial public offering…

Asharq Al Awsat
Business Sidra Income Fund Exceeds its Annual Target Net Return Delivering 8.39% in the Last 12 Months

Sidra Income Fund Exceeds its Annual Target Net Return Delivering 8.39% in the Last 12 Months

Sidra Capital, the Shari’ah compliant investment firm regulated by the Saudi Arabian Capital Market Authority announced the continuing strong performance of…

Asharq Al Awsat (Jeddah)
Business Saudi Business Activity Records One Of Highest Growth Rates Since Pandemic

Saudi Business Activity Records One Of Highest Growth Rates Since Pandemic

Commercial activity in Saudi Arabia witnessed a rise at one of the fastest rates since the beginning of the Covid-19 pandemic. According to the IHS Markit…

Asharq Al Awsat (Riyadh)
Business Oman’s Real Estate Transactions Grow by 16%

Oman’s Real Estate Transactions Grow by 16%

The total value of property transactions in the Sultanate of Oman at the end of October 2021 increased by 16.2 percent over the same period of 2020, according…

Asharq Al Awsat (Muscat)
Business China Tries to Reassure on Evergrande as Default Fears Rise

China Tries to Reassure on Evergrande as Default Fears Rise

China's central bank released extra money for lending Monday as the government tried to reassure the public it can contain the potential fallout if a troubled…

Asharq Al Awsat
Business UAE Invests $13.6 Bln in Railway Program

UAE Invests $13.6 Bln in Railway Program

The United Arab Emirates announced the launch of its Railways Program, which is an integrated strategy for the railway sector in the UAE for the coming decades…

Asharq Al Awsat (Dubai)
Business Saudi-Omani Forum to Witness Signing of Economic MoUs

Saudi-Omani Forum to Witness Signing of Economic MoUs

An economic forum is scheduled to be held in Muscat on Monday in the presence of Saudi and Omani ministers and representatives of the private sector during the…

Fatehelrahman Yousif (Riyadh)
Business Oil Rebounds Above $71 on Omicron Hopes, Iran Talks

Oil Rebounds Above $71 on Omicron Hopes, Iran Talks

Oil rose by more than $1 a barrel to above $71 on Monday as hopes that the Omicron coronavirus variant may cause mostly mild symptoms boosted riskier assets…

Asharq Al Awsat
Business Dubai Ruler Issues Decree to Reconstitute Dubai Free Zones Council Board

Dubai Ruler Issues Decree to Reconstitute Dubai Free Zones Council Board

The ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum, on Monday issued a decree to reconstitute the board of the Dubai Free Zones Council, state news…

Asharq Al Awsat