Business

GCC: Railway Agreement Sets Joint Framework for Project Implementation and Operation

Business GCC transport ministers pose for a group photo following the 27th committee meeting in Kuwait. (GCC Railway Authority)

GCC: Railway Agreement Sets Joint Framework for Project Implementation and Operation

Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council (GCC), said on Sunday that the signing of the General Agreement on the GCC Railway Project…

Asharq Al Awsat (Manama)
Business A factory in Madinah’s industrial city. (SPA)

Mega Projects Drive Growth for Saudi Small and Medium Factories

Mega projects in Saudi Arabia are offering increasing opportunities for small and medium-sized factories to expand their businesses and integrate into local…

Sara bin Shamran (Riyadh)
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 Iraq, Total Sign $27 bln Energy Projects Deal

Iraq, Total Sign $27 bln Energy Projects Deal

France's Total will build four giant energy projects in southern Iraq under a $27 billion deal signed in Baghdad on Sunday, the country's oil minister said. …

Asharq Al Awsat
Business Bitcoin Rises Back Above $50,000

Bitcoin Rises Back Above $50,000

Bitcoin rose 0.49% to $50,188.4 at 1004 GMT on Sunday, adding $245.24 to its previous close. The world’s biggest and best-known cryptocurrency is up 81%…

Asharq Al Awsat
Business Int’l Financial Institutions Demand Reforms to Support Tunisia

Int’l Financial Institutions Demand Reforms to Support Tunisia

International financial agencies are pressuring Tunisian authorities to name the government party that will negotiate with them, reminding them of the reforms…

Mongi Saidani (Tunis)
Business Strategic Partnership to Export Saudi Non-Oil Products

Strategic Partnership to Export Saudi Non-Oil Products

In a move set to boost Saudi Arabia’s non-oil exports, the Saudi Export-Import Bank (EXIM) signed an agreement with the Islamic Corporation for the Insurance…

Asharq Al Awsat (Tashkent)
Business Saudi Arabia Launches Middle East’s First Carbon Trading Platform

Saudi Arabia Launches Middle East’s First Carbon Trading Platform

Saudi Arabia’s Public Investment Fund, in collaboration with the Saudi Tadawul Group, announced plans to establish an exchange for carbon offsets and credits…

Asharq Al Awsat (Riyadh)
Business Philippine Airlines Files for Bankruptcy

Philippine Airlines Files for Bankruptcy

Philippine Airlines said Saturday it was filing for bankruptcy in the United States to slash $2 billion in debt as it tries to survive an industry gutted by…

Asharq Al Awsat
Business Turkish Hotels to Close Early after UK ‘Red List’ Dashes Hopes

Turkish Hotels to Close Early after UK ‘Red List’ Dashes Hopes

When Britain announced Turkey would stay on its “red list” of travel destinations last week, Onur Arican decided to close his boutique hotel on the Aegean…

Asharq Al Awsat
Business Turkish Inflation Jumps above Policy Rate to 19.25%

Turkish Inflation Jumps above Policy Rate to 19.25%

Turkish annual inflation jumped more than expected to 19.25% in August, above the central bank’s policy rate and its highest level in more than two years,…

Asharq Al Awsat
Business Saudi Arabia, Iraq Sign Maritime Transport Agreement

Saudi Arabia, Iraq Sign Maritime Transport Agreement

Reinforcing bilateral ties between Saudi Arabia and Iraq, the two countries signed a maritime transport cooperation agreement on Thursday. Saudi Minister…

Bandar al-Mosalam (Riyadh)
Business UAE: 50 Projects to Increase Growth, Double Foreign Investments

UAE: 50 Projects to Increase Growth, Double Foreign Investments

The UAE will launch 50 new national projects this month to support the country’s development journey, Vice President and Prime Minister of the UAE and Ruler of…

Asharq Al Awsat (Dubai)
Business Saudi Arabia’s ACWA Power Launches $1 Billion IPO

Saudi Arabia’s ACWA Power Launches $1 Billion IPO

Saudi Arabian utility developer ACWA Power on Thursday announced its intention to float on the Riyadh bourse in an initial public offering (IPO) sources have…

Asharq Al Awsat
Business Saudi Arabia Begins Localization of Education Sector Jobs

Saudi Arabia Begins Localization of Education Sector Jobs

Saudi Arabia started on Wednesday the first phase of localization of educational jobs in private schools and international schools for boys and girls. This…

Asharq Al Awsat (Riyadh)
Business Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

Abu Dhabi Securities Exchange (ADX) said on Wednesday it plans to launch a derivatives market in the fourth quarter of this year. The stock exchange will…

Asharq Al Awsat
Business Egypt Signs $4.45 Bln Contract for High-speed Rail Link

Egypt Signs $4.45 Bln Contract for High-speed Rail Link

Egypt has signed a $4.45 billion contract for development of a high-speed electric rail line that will link the Red Sea and Mediterranean coasts and be built…

Asharq Al Awsat
Business Saudi Arabia to Host Largest Gathering to Discuss Islamic Finance, Digital Transformation

Saudi Arabia to Host Largest Gathering to Discuss Islamic Finance, Digital Transformation

The Islamic Financial Services Board (IFSB) announced that the Central Bank of Saudi Arabia (Sama) will host the largest gathering of Islamic financial…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia to Host Future Minerals Summit on Mining Investment in Middle East, N.Africa

Saudi Arabia to Host Future Minerals Summit on Mining Investment in Middle East, N.Africa

The Saudi Ministry of Industry and Mineral Resources announced on Tuesday details of the inaugural Future Minerals Summit, the first-ever event to offer a “one…

Asharq Al Awsat
Business Abu Dhabi Offshore Exploration Block Awarded to Consortium Led by Pakistan Petroleum Limited

Abu Dhabi Offshore Exploration Block Awarded to Consortium Led by Pakistan Petroleum Limited

The Abu Dhabi National Oil Company (ADNOC) has announced the signing of a historic exploration concession agreement, awarding the exploration rights for Abu…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Arabia's 1st Climate Change-Focused Investment Fund Launched

Saudi Arabia's 1st Climate Change-Focused Investment Fund Launched

HSBC Saudi Arabia announced on Tuesday the launch of the first environmental initiative investment fund in the Kingdom. Known as the HSBC Global Equity…

Asharq Al Awsat (Riyadh)
Business Oil Steady Ahead of OPEC+ Supply Decision

Oil Steady Ahead of OPEC+ Supply Decision

Oil prices were stable on Wednesday ahead of an OPEC+ meeting, at which major producers will decide whether to go ahead with their plan to add supply while…

Asharq Al Awsat
Business Global Standard to Speed Up Clearance at Ports between Saudi Arabia, Bahrain

Global Standard to Speed Up Clearance at Ports between Saudi Arabia, Bahrain

The Saudi Cabinet has recently approved a joint customs cooperation agreement between the Zakat, Tax and Customs Authority in the Kingdom and its counterpart…

Bandar al-Mosalam (Riyadh)
Business Saudi Arabia Forges Partnerships to Establish Local Aerospace Industry

Saudi Arabia Forges Partnerships to Establish Local Aerospace Industry

Saudi regulatory authorities announced their approval of joint ventures in the aviation structure manufacturing sector, which will seek to establish the first…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia Expands Land, Real Estate Title Registration

Saudi Arabia Expands Land, Real Estate Title Registration

The Saudi Ministry of Justice revealed that it has expanded the electronic land and real estate title registrations services. It announced that seven other…

Asharq Al Awsat (Riyadh)
Business Saudi-Omani MoUs Boost Shared Investments

Saudi-Omani MoUs Boost Shared Investments

The Omani-Saudi Investment Forum and the Joint Saudi-Omani Business Council concluded their meetings and activities on Monday in Muscat, by introducing and…

Merza al-Khuwaldi (Muscat)
Business Saudi Center for Commercial Arbitration Launches Package to Support Business Sector

Saudi Center for Commercial Arbitration Launches Package to Support Business Sector

The Saudi Center for Commercial Arbitration (SCCA) will launch on Tuesday a package of enhancements to make its range of services more accessible and support…

Fatehelrahman Yousif (Riyadh)