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 GASTAT: Saudi Exports Reached $73 Bln in Q3

GASTAT: Saudi Exports Reached $73 Bln in Q3

Saudi Arabia's non-oil exports jumped 28.4% year-on-year in the third quarter of 2021 to 69.3 billion riyals ($18.48 billion) mainly due to higher shipments of…

Asharq Al Awsat (Riyadh)
Business Egypt’s Economy Grew by 9.8% In Q1 FY 2021-22

Egypt’s Economy Grew by 9.8% In Q1 FY 2021-22

Egypt's economy grew by 9.8% in the first quarter of the fiscal year 2021-22 that began in July, compared with 0.7% in the same period last year, Minister of…

Asharq Al Awsat
Business Lebanese Pound Hits Record Low of More than 24,000 per US Dollar

Lebanese Pound Hits Record Low of More than 24,000 per US Dollar

Lebanon's currency slid to a new low against the US dollar on Thursday amid government paralysis as the country's financial meltdown deepens. Several Beirut…

Asharq Al Awsat
Business China CO2 Emissions Fall for 1st Time Since COVID Rebound

China CO2 Emissions Fall for 1st Time Since COVID Rebound

China's carbon emissions fell in the third quarter for the first time since its economic recovery from the coronavirus began, new research shows, partly as a…

Asharq Al Awsat
Business Erdogan Unbowed by Critics, Leaving Little Stopping Lira’s Collapse

Erdogan Unbowed by Critics, Leaving Little Stopping Lira’s Collapse

Little stands in the way of Turkey's currency collapse expanding into a deeper economic crisis after President Recep Tayyip Erdogan ignored appeals, even from…

Asharq Al Awsat
Business Saudi ‘Ehkaam’ Receives 700,000 Applications for Property Ownership

Saudi ‘Ehkaam’ Receives 700,000 Applications for Property Ownership

Ehkaam electronic platform received over 700,000 applications for property ownership, according to released data. Ehkaam is an electronic platform launched…

Asharq Al Awsat (Riyadh)
Business Egypt Predicts 5.6% Economic Growth

Egypt Predicts 5.6% Economic Growth

Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the country was expected to have an economic growth of 5.6% in the 2021-2022…

Asharq Al Awsat (Cairo)
Business UAE Builds First Green Hydrogen Plant

UAE Builds First Green Hydrogen Plant

The United Arab Emirates has started building the "first green hydrogen plant in the Middle East," and testing is underway, announced Energy Minister Suhail al…

Asharq Al Awsat (Dubai)
Business IMF: Algeria’s Economy Gradually Recovering, Outlook Remains Challenging

IMF: Algeria’s Economy Gradually Recovering, Outlook Remains Challenging

The International Monetary Fund (IMF) said on Monday the Algeria economy is gradually recovering from COVID-19 and oil shocks in 2020, after its executive…

Asharq Al Awsat (Algiers)
Business Saudi Companies Bolster Presence in Africa, Look for Investment Opportunities in India

Saudi Companies Bolster Presence in Africa, Look for Investment Opportunities in India

Saudi Arabia’s benchmark index (TASI) fell 2.7%, its biggest intraday fall since Oct. 2020, to close at 11,172 points, losing 314 points, with liquidity of 7.1…

Asharq Al Awsat (Riyadh)
Business Saudi Shura Council Calls for Establishing Digital Branches for Social Development Bank

Saudi Shura Council Calls for Establishing Digital Branches for Social Development Bank

The Saudi Shura Council called on the Social Development Bank to take the initiative and prepare a technical study to replace some of its rented offices with…

Bandar al-Mosalam (Riyadh)
Business Tanger Med Zones Launches Outlet Commercial Project in Northern Morocco

Tanger Med Zones Launches Outlet Commercial Project in Northern Morocco

Tanger Med Zones has launched a new outlet commercial project in northern Morocco. “As part of its job as a planner-developer, Tanger Med Zones, a…

Asharq Al Awsat (Rabat)
Business Saudi-Moroccan Business Council Aims to Promote 5 Promising Sectors

Saudi-Moroccan Business Council Aims to Promote 5 Promising Sectors

The Saudi-Moroccan Business Council launched several initiatives within the Council of Saudi Chambers to promote five promising sectors in tourism, electricity…

Fatehelrahman Yousif (Riyadh)
Business Egypt's Cement Sector Requested to Reduce Carbon Footprint

Egypt's Cement Sector Requested to Reduce Carbon Footprint

Egypt's cement sector has been requested to reduce its carbon footprint in light of the state's directions to reduce carbon emissions and combat climate change…

Asharq Al Awsat (Cairo)
Business Turkish Lira Plunges 5% After Erdogan Stokes Firesale

Turkish Lira Plunges 5% After Erdogan Stokes Firesale

Turkey's lira crashed 5% to near 12 to the dollar on Tuesday, its eleventh record low in as many days, after President Recep Tayyip Erdogan defended recent…

Asharq Al Awsat
Business Oil Slips on Plans to Tap Emergency Crude Reserves

Oil Slips on Plans to Tap Emergency Crude Reserves

Oil prices fell on Tuesday, reversing gains the previous session on talk the United States, Japan and India will release crude reserves to tame prices despite…

Asharq Al Awsat
Business Oman’s Asyad Seeks Offers of Interest in Expanding Suwaiq Port

Oman’s Asyad Seeks Offers of Interest in Expanding Suwaiq Port

Oman logistics group Asyad has invited local and international companies to send offers of interest in expanding Suwaiq port on the Gulf of Oman, the state…

Asharq Al Awsat
Business Saudi Water Company Signs Deals to Operate Water Services, Environmental Sanitation

Saudi Water Company Signs Deals to Operate Water Services, Environmental Sanitation

The Saudi National Water Company (NWC) signed two contracts worth $154 million with the private sector to operate water services and environmental sanitation…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia Remains China's Top Crude Oil Supplier

Saudi Arabia Remains China's Top Crude Oil Supplier

Saudi Arabia held its position as the biggest supplier of crude oil to China for an 11th month in a row in October, with volumes up 19.5 percent from a year…

Asharq Al Awsat (London)
Business Bahrain Central Bank Expects Real GDP to Grow 3.1% in 2021

Bahrain Central Bank Expects Real GDP to Grow 3.1% in 2021

Bahrain's Central Bank Governor, Rasheed Mohammed al-Maraj, said in an interview published on Sunday he expects the real gross domestic product to grow 3.1…

Asharq Al Awsat (Manama)
Business Saudi EXIM Targets Alternative Economy

Saudi EXIM Targets Alternative Economy

The Saudi Export-Import Bank (EXIM) will continue to develop the alternative economy as a target to support the strengthening of the Kingdom's commercial…

Fatehelrahman Yousif (Riyadh)
Business Saudi Arabia Anticipates More Investment in Kingdom’s Logistics Sector

Saudi Arabia Anticipates More Investment in Kingdom’s Logistics Sector

The Saudi market is bracing for the influx of more foreign and local investments in its logistics sector, especially as the world starts to recover from the…

Saeed al-Abyad (Jeddah)
Business 70% of Lebanese Unable to Buy Medicine

70% of Lebanese Unable to Buy Medicine

Head of Lebanon’s parliamentary health committee Asem Araji confirmed that 70% of Lebanese people could not buy medicine after lifting subsidies and the sharp…

Asharq Al Awsat (Beirut)
Business Saudi Arabia’s Dubai Expo 2020 Pavilion Receives 1 Million Visitors

Saudi Arabia’s Dubai Expo 2020 Pavilion Receives 1 Million Visitors

One million people have visited Saudi Arabia's pavilion at Expo 2020 Dubai since its opening on the first of October, according to the Saudi Organizing…

Asharq Al Awsat (Dubai)