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 Aramco Signs Agreement to Manufacture First Cybersecurity Device

Aramco Signs Agreement to Manufacture First Cybersecurity Device

Saudi Aramco and the Advanced Electronics Company (AEC) signed an agreement for the joint development and manufacturing of the data diode, the first-of-its…

Asharq Al Awsat
Business OPEC+ Will Respond Responsibly to Spread of Coronavirus, Says Saudi Energy Minister

OPEC+ Will Respond Responsibly to Spread of Coronavirus, Says Saudi Energy Minister

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Tuesday he was confident that OPEC and its partner oil-producing nations, the so-called OPEC…

Asharq Al Awsat
Business Cash Crisis Sends Credit Cards to 'Early Retirement'

Cash Crisis Sends Credit Cards to 'Early Retirement'

Marwan, 34, has not used his credit card for four months. He carries paper money to buy his needs - a “safe” measure that would prevent him from facing a ban…

Nazeer Rida (Beirut)
Business SAMBA Signs Two MoUs With Ministry of Finance

SAMBA Signs Two MoUs With Ministry of Finance

Samba Financial Group has signed two memorandums of understanding with the Ministry of Finance as part of its partnership with the private sector to support…

Asharq Al Awsat (Riyadh)
Business Talks Kick Off in Morocco Over Women's Economic Empowerment

Talks Kick Off in Morocco Over Women's Economic Empowerment

The Moroccan Ministry of Solidarity, Social Development, Equality, and the Family launched Monday extensive consultations on the national program to empower…

Lahcen Mokena (Casablanca)
Business Lebanon to Appoint Cleary Gottlieb to Advise on Eurobonds

Lebanon to Appoint Cleary Gottlieb to Advise on Eurobonds

Lebanon will appoint Cleary Gottlieb Steen & Hamilton LLP as legal adviser on its Eurobonds, a source close to the government said on Monday, as investors and…

Asharq Al Awsat (Beirut)
Business Saudi Arabia to Adopt New Oil Strategy in 3 Months

Saudi Arabia to Adopt New Oil Strategy in 3 Months

Saudi Arabia is working on a new strategy for the energy sector to be launched within three months, announced Energy Minister Prince Abdulaziz bin Salman…

Obeid Al-Suhaimi (Dammam)
Business Turkish Lira Continues to Slip over Syria, Coronavirus Fears

Turkish Lira Continues to Slip over Syria, Coronavirus Fears

The Turkish lira weakened 0.7% on Monday as investor unease about the conflict in neighboring Syria was amplified by a global flight to safe havens in the face…

Asharq Al Awsat
Business Saudi Labor Ministry Improves Contracts to Increase Efficiency

Saudi Labor Ministry Improves Contracts to Increase Efficiency

The Saudi labor market is witnessing a tangible progress in improving contracts and raising its efficiency and competitiveness, according to the Ministry of…

Fatehelrahman Yousif (Riyadh)
Business AMF Launches Buna Payment Platform

AMF Launches Buna Payment Platform

The Arab Monetary Fund (AMF) launched ‘Buna’, a regional payment platform that enables regional financial institutions to send and receive cross-border…

Asharq Al Awsat (Abu Dhabi)
Business Egypt to Launch Bid Round in March for Gold Exploration

Egypt to Launch Bid Round in March for Gold Exploration

Egypt plans to launch an exploration round for gold in its Eastern Desert in the first half of March, an official at the mineral resources authority said on…

Asharq Al Awsat (Cairo)
Business IMF Extends Lebanon Visit

IMF Extends Lebanon Visit

The International Monetary Fund (IMF) will continue meetings with Lebanese authorities on Monday, sources familiar with the process told Reuters, extending a…

Asharq Al Awsat
Business Saudi FM: G20 'Ready to Intervene with Necessary Policies' over Coronavirus

Saudi FM: G20 'Ready to Intervene with Necessary Policies' over Coronavirus

Finance leaders of the world's top 20 economies have agreed to continue monitoring the risks of the coronavirus outbreak, Saudi Finance Minister Mohammed al…

Asharq Al Awsat
Business Saudi Arabia Hosts 1st Int’l Conference on Carbon Capture, Utilization, Storage

Saudi Arabia Hosts 1st Int’l Conference on Carbon Capture, Utilization, Storage

The International Carbon Capture, Utilization, and Storage (iCCUS 2020) Conference and Exhibition will kick off in the Saudi capital, Riyadh, on Tuesday. …

Asharq Al Awsat (Dhahran)
Business G20 Agrees Final Communique with Reference to Climate Change

G20 Agrees Final Communique with Reference to Climate Change

Finance officials from the world's 20 biggest economies (G20) meeting in Riyadh on Sunday reached agreement on the wording of a final communique that includes…

Asharq Al Awsat
Business Tunisian Oil Output Drops to 37,000 bpd

Tunisian Oil Output Drops to 37,000 bpd

Oil output in Tunisia dropped to 37,800 bpd from 70,000 bpd in 2010, said the Entreprise Tunisienne d'Activites Petrolieres (ETAP). It revealed a decline in…

Mongi Saidani (Tunis)
Business Saudi G20 Gathering Tackles Challenges of Digitalization on Global Economy

Saudi G20 Gathering Tackles Challenges of Digitalization on Global Economy

G20 organizers in Saudi Arabia hosted on Saturday a ministerial-level symposium on international taxation, focused on the challenges arising from the…

Asharq Al Awsat
Business Saudi G20 Gathering Weighs Coronavirus Threat to Global Economy

Saudi G20 Gathering Weighs Coronavirus Threat to Global Economy

The deadly coronavirus epidemic will dent global growth, the IMF warned Saturday, as G20 finance ministers and central bank governors weighed its economic…

Asharq Al Awsat
Business Aramco Says it Received Approval for Jafurah Gas Field Development

Aramco Says it Received Approval for Jafurah Gas Field Development

Saudi Aramco said on Saturday it had received regulatory approval to develop Saudi Arabia's Jafurah non-associated gas field and expects production to start in…

Asharq Al Awsat
Business Promising Tourism Season in Tunisia

Promising Tourism Season in Tunisia

Tunisia’s Tourism Ministry has said there were promising economic indicators pointing to a successful tourism season. Growth rate stood at around 13 percent…

Mongi Saidani (Tunis)
Business G20 Meetings Seek Financial, Monetary Solutions to Boost Economic Growth

G20 Meetings Seek Financial, Monetary Solutions to Boost Economic Growth

The G20 Finance Ministers and Central Bank Governors meetings taking place in Saudi Arabia's capital on Saturday and Sunday seek to enhance economic growth…

Mohammed al-Hamidi (Riyadh)
Business Oil Prices Improve after Saudi Denial to Break from OPEC+

Oil Prices Improve after Saudi Denial to Break from OPEC+

Saudi Energy Minister Prince Abdulaziz bin Salman described as “nonsense” a media report that Riyadh is considering a break from the OPEC+ alliance with Russia…

Asharq Al Awsat (London)
Business Saudi Arabia to Develop Jafurah Unconventional Gas Field with $110 Bln Investment

Saudi Arabia to Develop Jafurah Unconventional Gas Field with $110 Bln Investment

Saudi Arabia's Jafurah non associated, unconventional gas field will be developed with a $110 billion investment, reported the Saudi Press Agency. Crown…

Asharq Al Awsat
Business Moody's Downgrades Lebanon's Rating amid Financial Crisis

Moody's Downgrades Lebanon's Rating amid Financial Crisis

Credit rating agency Moody's downgraded Lebanon's government issuer ratings Friday to Ca from Caa2 and changed the outlook to stable amid concerns the country…

Asharq Al Awsat