Business

Egypt Seeks Faster Progress on Libya Gas, Refining and Power Projects

Business Egyptian Foreign Minister Badr Abdelatty speaks during a press conference with Minister of Information Diaa Rashwan (not pictured) in Cairo, Egypt, March 25, 2026. (Reuters)

Egypt Seeks Faster Progress on Libya Gas, Refining and Power Projects

Egypt aims to accelerate energy projects with Libya, including gas pipeline links, refining of Libyan crude in Egypt and an electricity interconnection,…

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 World Bank Upgrades Saudi Arabia’s Growth Forecast in 21/22

World Bank Upgrades Saudi Arabia’s Growth Forecast in 21/22

Saudi Arabia is forecast to grow 2.4 percent this year and 3.3 percent in 2022, according to a World Bank report. Previous estimates suggested that the…

Asharq Al Awsat (Riyadh)
Business ARCHIRODON to Build Bridge to Main Hub Island at Red Sea Project

ARCHIRODON to Build Bridge to Main Hub Island at Red Sea Project

The Red Sea Development Company (TRSDC) has appointed ARCHIRODON to design and build a 1.2km iconic bridge, which is part of the 3.3km crossing to its main hub…

Asharq Al Awsat (Riyadh)
Business Saudi Aramco Raises $6 Billion with Debut Sukuk

Saudi Aramco Raises $6 Billion with Debut Sukuk

Saudi Arabian oil giant Aramco locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with…

Business Saudi Arabia, Côte d'Ivoire Seek to Cooperate In Rice Production

Saudi Arabia, Côte d'Ivoire Seek to Cooperate In Rice Production

The Saudi embassy in Abidjan informed the Saudi private sector about a study of a strategic cooperation project between the Kingdom and the Republic of Côte d…

Bandar al-Mosalam (Riyadh)
Business IEA: Clean Investment Surge Needed to Meet Climate Goals

IEA: Clean Investment Surge Needed to Meet Climate Goals

The world has no option other than to finance a huge, sevenfold surge in investment into clean energy in emerging and developing economies if climate goals are…

Asharq Al Awsat
Business Sudan Ends Subsidies for Petrol and Diesel, Raises Prices

Sudan Ends Subsidies for Petrol and Diesel, Raises Prices

Sudan fully liberalized petrol and diesel prices on Tuesday, according to a statement from the finance ministry that said previous prices would be canceled and…

Asharq Al Awsat
Business GFH Acquires British International School in Tunisia

GFH Acquires British International School in Tunisia

Britus Education, the wholly-owned education investment platform of GFH Financial Group, has acquired The British International School of Tunis (BIST) to…

Asharq Al Awsat (Manama)
Business Morocco’s Economy Dips 6.3% in 2020

Morocco’s Economy Dips 6.3% in 2020

Morocco’s Gross Domestic Product (GDP) contracted by 6.3 percent in 2020 compared to a 2.6 percent growth reported in 2019, the High Commission for Planning …

Asharq Al Awsat (Rabat)
Business Saudi EXIM Bank Gets Organizationally Linked to National Development Fund

Saudi EXIM Bank Gets Organizationally Linked to National Development Fund

Official information revealed that a higher approval was issued for the Saudi Export-Import Bank (EXIM) to be linked organizationally with the National…

Bandar al-Mosalam (Riyadh)
Business Sudan’s US Dollar Auctions Ease Exchange Rate Pressure

Sudan’s US Dollar Auctions Ease Exchange Rate Pressure

Sudan’s central bank said on Sunday it had allocated the full $50 million it offered in its third foreign currency auction. Traders said the new policy…

Asharq Al Awsat (Khartoum)
Business Saudi Sovereign Fund PIF Appoints Two to New Deputy Governor Roles

Saudi Sovereign Fund PIF Appoints Two to New Deputy Governor Roles

Saudi Arabia's sovereign wealth fund PIF said on Tuesday it has established two deputy governor roles to support the $430 billion fund's continued growth and…

Asharq Al Awsat
Business Saudi Aramco Issues US Denominated International Trust Certificates

Saudi Aramco Issues US Denominated International Trust Certificates

Saudi Aramco announced on Monday its intention to issue Sharia-compliant international trust certificates pursuant to its Trust Certificate Issuance Program. …

Asharq Al Awsat
Business Saudi Arabia, Greece Collaborate to Boost Sustainable Coastal, Marine Tourism

Saudi Arabia, Greece Collaborate to Boost Sustainable Coastal, Marine Tourism

Saudi Minister of Tourism Ahmed al-Khateeb and his Greek counterpart Harry Theoharis signed Sunday an agreement for cooperation in sustainable coastal and…

Asharq Al Awsat (Athens)
Business Saudi Arabia Boosts Implementation, Development of Islamic Finance

Saudi Arabia Boosts Implementation, Development of Islamic Finance

The Saudi Central Bank, previously called the Saudi Arabian Monetary Authority, has issued new directives to financing companies in the Kingdom, official…

Bandar al-Mosalam (Riyadh)
Business Oil Retreats as Investors Await Iran Nuclear Talks

Oil Retreats as Investors Await Iran Nuclear Talks

Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week's talks between Iran and world powers over a…

Asharq Al Awsat
Business Saudi Arabia Tops 180 Countries in Environmental Performance Indicators

Saudi Arabia Tops 180 Countries in Environmental Performance Indicators

The Kingdom of Saudi Arabia has outperformed 180 countries in two environmental performance indicators, ranking first in both the “Tree Cover Loss” and …

Asharq Al Awsat (Riyadh)
Business UAE, Jordan Discuss Means of Bolstering Economic Cooperation

UAE, Jordan Discuss Means of Bolstering Economic Cooperation

The UAE and Jordan have agreed on a joint plan of work that creates new opportunities to boost the economy in various fields including trade and investment. …

Asharq Al Awsat (Abu Dhabi)
Business France Probes Lebanese Central Bank Chief's Wealth

France Probes Lebanese Central Bank Chief's Wealth

France has opened a probe into the personal wealth of Riad Salameh, central bank chief in crisis-hit Lebanon, sources told AFP Sunday. Paris financial…

Asharq Al Awsat
Business G7 Nations Strike Deal to Tax Big Companies and Squeeze Havens

G7 Nations Strike Deal to Tax Big Companies and Squeeze Havens

The United States, Britain and other leading nations reached a landmark deal on Saturday to pursue higher global taxation on multinational businesses such as…

Asharq Al Awsat
Business Asia-Pacific Trade Ministers Mull Pandemic, Recovery

Asia-Pacific Trade Ministers Mull Pandemic, Recovery

Trade ministers from the Pacific Rim were discussing ways to build back better from the pandemic in an online meeting Saturday hosted by New Zealand. The…

Asharq Al Awsat
Business Erdogan Announces New Black Sea Natural Gas Find

Erdogan Announces New Black Sea Natural Gas Find

President Recep Tayyip Erdogan on Friday announced a new natural gas discovery in the southern Black Sea. Erdogan last year announced a 405-billion-cubic…

Asharq Al Awsat
Business Algeria's Cereal Harvest Set to Fall 35-40% this Year Due to Drought

Algeria's Cereal Harvest Set to Fall 35-40% this Year Due to Drought

Grain importer Algeria expects its cereal production for 2020 to fall 35-40% from last year’s 5 million tons because of drought, the head of its farmers’ union…

Asharq Al Awsat
Business Bonjour! France Welcoming Back (Vaccinated) Tourists

Bonjour! France Welcoming Back (Vaccinated) Tourists

A stroll in Pablo Picasso's footsteps in Montmartre; breathing in the scents of Provence; a humbling walk along D-Day beaches: These and all of France's other…

Asharq Al Awsat
Business Oil Rises on Demand Prospects

Oil Rises on Demand Prospects

Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy…

Asharq Al Awsat