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 Red Sea Development Company Produces Sustainable Seafood from Sunlight

Red Sea Development Company Produces Sustainable Seafood from Sunlight

The Red Sea Development Company (TRSDC) announced a solution proposed to produce sustainable seafood and algae in a desert environment. TRSDC strives to…

Asharq Al Awsat (Riyadh)
Business Sudan Launches First National Water Strategy

Sudan Launches First National Water Strategy

The National Water Strategy enables Sudan to benefit from most of its water resources through ambitious plans that come in line with the national vision and…

Mohammed Amin Yassin (Khartoum)
Business Syria, UAE Prepare to Reactivate Council of Businessmen

Syria, UAE Prepare to Reactivate Council of Businessmen

The Syrian and Emirati economy ministers have held talks on trade, investment, and cooperation and reactivating the Syrian-UAE Council of Businessmen. …

Business Aramco to Boost Capacity to 13 Million bpd by 2027

Aramco to Boost Capacity to 13 Million bpd by 2027

Saudi Arabia’s national oil company will complete its one million barrel per day (bpd) oil output expansion project by 2027 to bring its total production to 13…

Fatehelrahman Yousif (Riyadh)
Business Egypt’s Sovereign Wealth Fund Looks to Kickstart Revamp of Downtown Cairo

Egypt’s Sovereign Wealth Fund Looks to Kickstart Revamp of Downtown Cairo

Egypt’s sovereign wealth fund is planning to reinvent central Cairo as a start-up hub, while developing a new asset class around repurposing old buildings, as…

Asharq Al Awsat
Business Eye on Polls, Turkey’s Erdogan May Regret Rate Cut He Pushed for

Eye on Polls, Turkey’s Erdogan May Regret Rate Cut He Pushed for

President Recep Tayyip Erdogan’s belief that a shock interest rate cut will stoke up Turkey’s economy ahead of elections is instead likely to backfire as hot…

Asharq Al Awsat
Business Abu Dhabi’s Etihad Seeks to Hire up to 1,000 Cabin Crew

Abu Dhabi’s Etihad Seeks to Hire up to 1,000 Cabin Crew

Abu Dhabi's Etihad Airways said on Monday it planned to hire up to 1,000 cabin crew as travel demand rebounds with the easing of international border…

Asharq Al Awsat
Business Majid Al Futtaim Appoints Mace to Handle Delivery of ‘Riyadh North’ Project

Majid Al Futtaim Appoints Mace to Handle Delivery of ‘Riyadh North’ Project

Majid Al Futtaim has appointed global consultancy and construction company Mace, to support the delivery of its Riyadh North development, including the…

Asharq Al Awsat (Dubai)
Business UAE Central Bank Issues New Guidelines to Combat Money Laundering

UAE Central Bank Issues New Guidelines to Combat Money Laundering

The Central Bank of the UAE has issued a new guidance on anti-money laundering and combating the financing of terrorism for its licensed financial institutions…

Asharq Al Awsat (Abu Dhabi)
Business Algeria to Reduce Income Tax Amid Soaring Food Prices

Algeria to Reduce Income Tax Amid Soaring Food Prices

Algerian President Abdelmadjid Tebboune on Sunday ordered his government to reduce tax on overall income amid soaring food prices in the drought-hit North…

Asharq Al Awsat
Business OPEC+ Will Drive Oil Prices Over Coming Months

OPEC+ Will Drive Oil Prices Over Coming Months

The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group. There’s little chance…

Asharq Al Awsat (London)
Business Saudi Housing Minister Meets Egyptian Real Estate Developers

Saudi Housing Minister Meets Egyptian Real Estate Developers

The Egyptian-African Businessmen Association (EABA) organized an intensive meeting on Saturday in Cairo to discuss opportunities for real estate development in…

Asharq Al Awsat (Cairo)
Business ADNOC Drilling Jumps Over 30% In Debut for Abu Dhabi’s Largest IPO

ADNOC Drilling Jumps Over 30% In Debut for Abu Dhabi’s Largest IPO

ADNOC Drilling shares jumped more than 30% as the unit of Abu Dhabi oil giant ADNOC started trading on Sunday after its $1.1 billion initial public offering …

Asharq Al Awsat
Business India’s Reliance Sets Up Subsidiary in UAE for Trading Oil

India’s Reliance Sets Up Subsidiary in UAE for Trading Oil

India’s Reliance Industries said on Saturday it had set up a wholly owned subsidiary in the United Arab Emirates (UAE) for trading in crude oil, petroleum,…

Asharq Al Awsat (Mumbai)
Business Saudi Arabia Localizes Jobs in Real Estate, Cinema Sectors

Saudi Arabia Localizes Jobs in Real Estate, Cinema Sectors

The Saudi Ministry of Human Resources and Social Development’s decision to localize jobs and professions in the real estate and cinema sectors came into effect…

Asharq Al Awsat (Riyadh)
Business Gov’t Authorization to Own Shares in Capital of Saudi Privatization Projects

Gov’t Authorization to Own Shares in Capital of Saudi Privatization Projects

The Kingdom has tasked the Council of Economic and Development Affairs (CEDA) with approving acquisition of shares in the capital of the Privatization Project…

Bandar al-Mosalam (Riyadh)
Business Saudi Stock Exchange Joins FTSE Russell Emerging Markets Index of Govt Bonds

Saudi Stock Exchange Joins FTSE Russell Emerging Markets Index of Govt Bonds

Global index provider FTSE Russell announced that the Saudi Stock Exchange had joined the FTSE Emerging Markets of Government Bond Index- EMGBI. This is the…

Asharq Al Awsat (Riyadh)
Business Saudi Unemployment Rate Drops in Labor Market

Saudi Unemployment Rate Drops in Labor Market

The latest official data released on Thursday in Saudi Arabia revealed a drop in the unemployment rate in the Saudi workforce. The unemployment rate of the…

Asharq Al Awsat (Riyadh)
Business Oil Slips as OPEC+ Considers Boosting Output in Tight Market

Oil Slips as OPEC+ Considers Boosting Output in Tight Market

Oil prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring…

Asharq Al Awsat
Business Algeria, Spain Discuss Boosting Economic Partnership

Algeria, Spain Discuss Boosting Economic Partnership

Algerian President Abdelmadjid Tebboune discussed on Thursday with visiting Spanish Minister of Foreign Affairs, the European Union and Cooperation José Manuel…

Asharq Al Awsat (Algiers)
Business PIF to Sell Part of Stake in Saudi Telecom

PIF to Sell Part of Stake in Saudi Telecom

Saudi Arabia's Public Investment Fund (PIF), the country's sovereign wealth fund, is considering selling part of its 70% stake in Saudi Telecom Co (STC) while…

Asharq Al Awsat
Business Bahrain Launches Global Sea-to-Air Logistics Hub

Bahrain Launches Global Sea-to-Air Logistics Hub

Bahrain launched the region's fastest multimodal logistics hub with only a two-hour turnaround time for all containers, allowing products to be with customers…

Asharq Al Awsat (Manama)
Business World Bank Head Sees Situation in Sudan Improving

World Bank Head Sees Situation in Sudan Improving

Sudan is making progress as it reconnects with the global economy but patience is needed as the country seeks to tackle shortages and attract investment, the…

Asharq Al Awsat
Business China Evergrande Offshore Investors Face 'Large Losses' after Second Payment Miss

China Evergrande Offshore Investors Face 'Large Losses' after Second Payment Miss

China Evergrande Group missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt payment in a week, although the cash…

Asharq Al Awsat