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 UAE Cooperates with Iraq to Conduct Studies on Investment Opportunities in Ports, Economic Zones

UAE Cooperates with Iraq to Conduct Studies on Investment Opportunities in Ports, Economic Zones

AD Ports Group signed a Memorandum of Understanding with the General Company for Ports of Iraq (GCPI) to promote increased cooperation within the fields of…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Agricultural Investment Financing Witnesses 400 Percent Growth

Saudi Agricultural Investment Financing Witnesses 400 Percent Growth

Saudi Arabia’s Minister of Environment, Water and Agriculture, Eng. Abdul Rahman bin Abdul Mohsen Al-Fadhli, emphasized the success of the Kingdom’s experience…

Asharq Al Awsat (Riyadh) Asharq Al Awsat (Hail )
Business Ethiopia, Morocco’s OCP Ink Fertilizer Project Agreement

Ethiopia, Morocco’s OCP Ink Fertilizer Project Agreement

Ethiopia has signed an agreement with Morocco’s Office Cherifien des Phosphates (OCP), the world’s largest phosphate exporter, to implement a fertilizer…

Asharq Al Awsat (Rabat)
Business Oil Falls Below $75 on Risk-Averse Mood, US Gulf Output

Oil Falls Below $75 on Risk-Averse Mood, US Gulf Output

Oil dropped more than $1 a barrel to below $75 on Monday as rising risk aversion weighed on stock markets and boosted the US dollar, while more US Gulf oil…

Asharq Al Awsat
Business Bangladesh Offers Special Economic Zone for Saudi Investors

Bangladesh Offers Special Economic Zone for Saudi Investors

The Bangladeshi prime minister's private industry and investment adviser, Salman Fadel Rahman, revealed on Sunday that his country is prepared to set up a…

Fatehelrahman Yousif (Riyadh)
Business Rising Economic Activity to Increase Long-Term Investments in Saudi Arabia

Rising Economic Activity to Increase Long-Term Investments in Saudi Arabia

A recent study by the King Abdullah Petroleum Studies and Research Center (KAPSRC) revealed that the growth of economic activity in Saudi Arabia had increased…

Asharq Al Awsat (Riyadh)
Business Iraqi Oil Minister: OPEC Tries to Keep Oil Prices at $70 Per Barrel

Iraqi Oil Minister: OPEC Tries to Keep Oil Prices at $70 Per Barrel

The Organization of the Petroleum Exporting Countries (OPEC) and its allies will try to keep oil prices at $70 per barrel in the first quarter of 2022, Iraq’s…

Asharq Al Awsat (Baghdad)
Business AD Ports Group to Develop Cruise Terminal at Marsa Zayed in Aqaba

AD Ports Group to Develop Cruise Terminal at Marsa Zayed in Aqaba

AD Ports Group has announced it will establish a state-of-the-art cruise terminal at Marsa Zayed in Aqaba, Jordan, following the signing of a Heads of Terms…

Asharq Al Awsat
Business Egypt to Sell Minority Stake in State Payments Firm E-finance

Egypt to Sell Minority Stake in State Payments Firm E-finance

Egyptian state-controlled payments firm e-finance for Digital and Financial Investments said on Sunday it would offer up to 14.5% of its capital in an initial…

Asharq Al Awsat
Business Iraq Announces New Investment in Nasiriyah, Gharraf Gas Fields

Iraq Announces New Investment in Nasiriyah, Gharraf Gas Fields

The Iraqi Oil Ministry announced that it would launch a gas investment project in the Nasiriyah and al-Gharraf fields with the US company Rico Hughes in Dhi…

Asharq Al Awsat (Baghdad)
Business New Saudi Judicial Costs Law to Reduce Malicious Lawsuits

New Saudi Judicial Costs Law to Reduce Malicious Lawsuits

Saudi Arabia has started implementing new legislation for its justice system to improve judicial services and develop courts. The new Judicial Costs Law,…

Mohammed Helal (Riyadh)
Business Saudi Arabia to Become Global Leader in Carbon Trading

Saudi Arabia to Become Global Leader in Carbon Trading

In light of international demands to reduce carbon emissions, experts affirmed that Saudi Arabia was leading expectations with a higher growth rate and a…

Fatehelrahman Yousif (Riyadh)
Business Fitch Maintains Pessimistic Forecast for Turkish Inflation

Fitch Maintains Pessimistic Forecast for Turkish Inflation

Fitch Ratings revised up Turkey's 2021 economic growth forecast to 9.2 percent, according to the rating agency's Global Economic Outlook for September,…

Saeed Abdulrazek (Ankara)
Business Algeria Prepares New Investment Law

Algeria Prepares New Investment Law

Algeria is preparing a new investment law to improve its business climate and attract foreign investors with the aim of boosting the non-energy sector, Prime…

Asharq Al Awsat (Algiers)
Business UAE, UK Ink Deals to Develop Clean Hydrogen Hubs

UAE, UK Ink Deals to Develop Clean Hydrogen Hubs

The Abu Dhabi National Oil Company (ADNOC), BP and Masdar have announced the signing of strategic framework agreements to expand upon the United Arab Emirates…

Asharq Al Awsat (Abu Dhabi)
Business Lebanon Raises Gasoline Prices Further

Lebanon Raises Gasoline Prices Further

Lebanon’s incoming minister of energy announced on Friday new price hikes for gasoline of nearly 40%, effectively narrowing the fuel subsidy. This raises…

Asharq Al Awsat
Business Electric Car Sales in Saudi Arabia to Witness Growth by 2025

Electric Car Sales in Saudi Arabia to Witness Growth by 2025

Official Saudi data revealed expectations for the growth of car market sales in the country over the next four years, with a particular focus on electric cars…

Asharq Al Awsat (Riyadh)
Business Greece Sees Jump in International Arrivals in August

Greece Sees Jump in International Arrivals in August

International air traffic to Greece picked up strongly in August at the peak of the summer tourism season, civil aviation authority data showed on Friday. …

Asharq Al Awsat
Business Lebanon Signs Central Bank Audit Contract with A&M

Lebanon Signs Central Bank Audit Contract with A&M

Lebanon's finance minister Youssef Khalil on Friday signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit…

Asharq Al Awsat
Business Softbank, Sanabil Inject $125 Million in SMEs

Softbank, Sanabil Inject $125 Million in SMEs

Saudi Arabia-based engagement platform Unifonic announced its half a billion Saudi riyal ($125 million) Series B funding round, led by SoftBank Vision Fund 2…

Asharq Al Awsat (Riyadh)
Business Saudi Finance Ministry Launches Initiative to Raise Efficiency among Government Agencies

Saudi Finance Ministry Launches Initiative to Raise Efficiency among Government Agencies

The Saudi Finance Ministry revealed on Wednesday the need for a flexible regulatory mix in government agencies consisting of direct supervision, self…

Asharq Al Awsat (Riyadh)
Business Oil Holds Above $75 as US Inventory Drop Supports

Oil Holds Above $75 as US Inventory Drop Supports

Oil slipped but held above $75 a barrel on Thursday, within sight of a near seven-week high hit a day earlier, supported by a big drop in US crude inventories…

Asharq Al Awsat
Business Agthia Group Acquires Majority Stake in Egypt’s Atyab

Agthia Group Acquires Majority Stake in Egypt’s Atyab

Agthia Group, the UAE’s leading food and beverages company, has announced that it has completed the strategic acquisition of a majority stake in Ismailia…

Asharq Al Awsat (Cairo)
Business Saudi Energy Consortium to Obtain USD 5.6 Billion for Financial Closure

Saudi Energy Consortium to Obtain USD 5.6 Billion for Financial Closure

Information on Tuesday revealed that the consortium of companies owning the Jazan Gasification and Energy Production Complex in Jazan Economic City, which…

Asharq Al Awsat (Riyadh)