Business

Bahraini Transport Minister to Asharq Al-Awsat: Each Country to Finance Its Share of Gulf Railway Project

Business A conceptual rendering of the Gulf railway interconnection project. (X)

Bahraini Transport Minister to Asharq Al-Awsat: Each Country to Finance Its Share of Gulf Railway Project

The Gulf Cooperation Council (GCC) member states took a new step toward completing the railway interconnection project by signing the project's general…

Merza al-Khuwaldi (Manama)
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 Saudi Food Security Safely Overcomes Repercussions of COVID-19

Saudi Food Security Safely Overcomes Repercussions of COVID-19

The Saudi Ministry of Environment, Water and Agriculture revealed a comprehensive integrated system that contributed to adequate food security despite the…

Asharq Al Awsat (Riyadh)
Business ADNOC Announces $20.7 Billion Energy Infrastructure Deal

ADNOC Announces $20.7 Billion Energy Infrastructure Deal

The Abu Dhabi National Oil Company (ADNOC) announced Tuesday that it has entered into an agreement with some of the world’s leading infrastructure investors…

Asharq Al Awsat
Business Pandemic Drives up Investments in e-Learning in Saudi Arabia

Pandemic Drives up Investments in e-Learning in Saudi Arabia

Saudi Arabia has launched a new e-learning platform which relies on modern technologies that aid in improving communication between students and teachers. …

Fatehelrahman Yousif (Riyadh)
Business Bahrain's Mumtalakat Revenues Rise to USD6.1 Billion

Bahrain's Mumtalakat Revenues Rise to USD6.1 Billion

Montelukast, the sovereign wealth fund of Bahrain, has reported a growth in revenues from USD5.6 billion to USD6.1 billion (BHD2.1 billion to BHD2.3 billion). …

Obeid Al-Suhaimi (Dammam)
Business Egypt: Stores Adapt to COVID-19 Restrictions to Compensate Losses

Egypt: Stores Adapt to COVID-19 Restrictions to Compensate Losses

Medhat Ibrahim, 33, decided to close his phone accessories shop in Giza (West Cairo) and move to another cheaper place in his village, after he was unable to…

Abdul Fattah Faraj (Cairo)
Business ‘Saudi Exports’ to Boost Presence in Singapore's Market

‘Saudi Exports’ to Boost Presence in Singapore's Market

The Saudi Export Development Authority sponsored bilateral meetings between its Singaporean counterpart and 24 Saudi companies specialized in food products to…

Asharq Al Awsat (Riyadh)
Business Lebanon's Crisis, Pandemic Hit American University in Beirut

Lebanon's Crisis, Pandemic Hit American University in Beirut

One of the Arab world´s oldest and most prestigious universities, which endured civil war, kidnappings and various economic crises, is preparing for what may…

Asharq Al Awsat
Business Saudi Arabia Allocates $4Bn for Tourism Development

Saudi Arabia Allocates $4Bn for Tourism Development

Saudi Arabia announced plans to launch a tourism development fund with an initial $4 billion investment, as part of its plans to diversify its economic…

Fatehelrahman Yousif (Riyadh)
Business Saudi Real Estate Sector Revived as Restrictions Lifted

Saudi Real Estate Sector Revived as Restrictions Lifted

Saudi Arabia’s real estate sector revived after Saudi Arabia ended a nationwide curfew and lifted restrictions on businesses from Sunday. Injaz Development…

Asharq Al Awsat (Dammam)
Business Turkey's Lonely Tourist Attractions Face Make-or-Break Week

Turkey's Lonely Tourist Attractions Face Make-or-Break Week

Turkey’s Mediterranean coasts and historic attractions face a critical week as the government presses to open borders and salvage at least part of a tourist…

Asharq Al Awsat
Business SABIC Deal Pushes Saudi Shares to Record Level

SABIC Deal Pushes Saudi Shares to Record Level

Saudi Aramco's 70 percent purchase of Saudi Basic Industries Corp (SABIC) raised the weekly monetary value in the Saudi Stock Exchange to reach a historic…

Shujaa al-Baqmi (Riyadh)
Business Saudi Arabia Lifts Lockdown, Cautiously Resumes Economic Activity

Saudi Arabia Lifts Lockdown, Cautiously Resumes Economic Activity

After over three months of total and partial COVID-19 lockdown, Saudi Arabia has resumed all economic activities on Sunday according to the royal approval to…

Saeed al-Abyad (Jeddah)
Business Saudi Firm Amlak Sets Price Range for IPO

Saudi Firm Amlak Sets Price Range for IPO

Saudi Arabian real estate financing firm Amlak International has set the price range for its planned initial public offering (IPO) at between 15 riyals ($4.00)…

Asharq Al Awsat
Business Flow of Containers in Saudi Ports Grows Despite Pandemic

Flow of Containers in Saudi Ports Grows Despite Pandemic

The total number of containers received by the Saudi Arabian ports since the beginning of 2020 has recorded a growth rate of 2.3 percent compared to the same…

Fatehelrahman Yousif (Riyadh)
Business Hotels, Tourist Accommodation Remain Closed in Morocco due to Pandemic

Hotels, Tourist Accommodation Remain Closed in Morocco due to Pandemic

Morocco’s Prime Minister Saad Eddine El Othmani met Friday with professionals in the tourism sector, which has been severely affected by the coronavirus…

Latifa Larousni (Rabat)
Business Oil Prices Gain With OPEC+ Maintaining Supply Cuts

Oil Prices Gain With OPEC+ Maintaining Supply Cuts

Oil prices rose more than 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply…

Asharq Al Awsat
Business Saudi Arabia's Public Investment Fund to Invest in Jio Platforms

Saudi Arabia's Public Investment Fund to Invest in Jio Platforms

Saudi Arabia’s Public Investment Fund (PIF) said on Thursday it will invest USD1.5 billion in Jio Platforms for a 2.32 percent stake in the top Indian telecom…

Asharq Al Awsat (Riyadh)
Business Ras Al-Khair Announces $8.5Bn-Worth Opportunities

Ras Al-Khair Announces $8.5Bn-Worth Opportunities

The industrial city of Ras al-Khair, located in eastern Saudi Arabia, has revealed $8.5 billion-worth (SAR31.9 billion) investment opportunities. The Royal…

Obeid Al-Suhaimi (Dammam)
Business Aramco CEO to Asharq Al-Awsat: SABIC Deal to Achieve Highest Possible Value on Each Oil Barrel

Aramco CEO to Asharq Al-Awsat: SABIC Deal to Achieve Highest Possible Value on Each Oil Barrel

Saudi Aramco's Chief Executive Amin Nasser revealed that the company has completed its purchase of a 70 percent stake in petrochemicals company Saudi Basic…

Mohammed al-Hamidi (Riyadh)
Business Tunisia's Economy Expected to Shrink 7% in 2020

Tunisia's Economy Expected to Shrink 7% in 2020

Tunisia’s Minister of Investment and International Cooperation expected that his country’s economy would shrink by around 7 percent this year, noting that the…

Business Saudi GAMI Licenses 18 New National Military Companies

Saudi GAMI Licenses 18 New National Military Companies

The Saudi General Authority for Military Industries (GAMI) announced that it has licensed 18 more companies to engage in the Saudi military industries sector,…

Asharq Al Awsat (Riyadh)
Business SABIC to Asharq Al-Awsat: No Job Cuts Ahead

SABIC to Asharq Al-Awsat: No Job Cuts Ahead

Saudi petrochemical company SABIC has confirmed that an acquisition deal with Saudi Aramco will not lead to cuts in jobs or benefits for its employees. On…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia Ranks 12th in Index of Venture Capital Availability

Saudi Arabia Ranks 12th in Index of Venture Capital Availability

Saudi Arabia has ranked 12th in the index of Venture Capital Availability, which is considered one of the most prominent sub-factors in World Competitiveness…

Asharq Al Awsat (Riyadh)
Business APICORP Acquires 20% Stake in Jordan Wind Project Developer

APICORP Acquires 20% Stake in Jordan Wind Project Developer

Arab Petroleum Investments Corporation has acquired a 20 percent stake in the Jordan Wind Project Company, which operates the Tafila wind project in Jordan. …

Asharq Al Awsat (Dubai)