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 Three Egyptian Companies Win Rosatom Tender to Build Dabaa Nuclear Power Plant

Three Egyptian Companies Win Rosatom Tender to Build Dabaa Nuclear Power Plant

Atomstroyexport, a subsidiary of Russia’s state-owned Rosatom, announced on Sunday that three Egyptian contracting companies won a tender offer for the…

Asharq Al Awsat (Cairo)
Business Egypt's Sharm Welcomes First UK Flights since 2015 Plane Crash

Egypt's Sharm Welcomes First UK Flights since 2015 Plane Crash

Egypt's Sharm el-Sheikh has welcomed the first British charter flights since the 2015 Russian airliner crash. Britain halted flights to Sharm el-Sheikh…

Asharq Al Awsat
Business Saudi Arabia Will Export Gas Very Soon: Energy Minister

Saudi Arabia Will Export Gas Very Soon: Energy Minister

Saudi Arabia plans to export gas very soon and aspires to make an ideal exploitation of hydrocarbons, announced Energy Minister Prince Abdul Aziz bin Salman…

Obaid al-Suheimy (Jubail)
Business UAE’s TRA Chief to Asharq Al-Awsat: Cooperation Ongoing with Saudi Arabia in Cybersecurity

UAE’s TRA Chief to Asharq Al-Awsat: Cooperation Ongoing with Saudi Arabia in Cybersecurity

The Saudi initiatives to protecting children in cyberspace and empowering women in cybersecurity benefit the whole world by enhancing prevention from…

Fatehelrahman Yousif (Riyadh)
Business SAMA Warns Against Falling to Money Laundering Schemes

SAMA Warns Against Falling to Money Laundering Schemes

Saudi Arabian Monetary Authority (SAMA) has warned against the consequences of being exploited in money laundering schemes. It called on citizens to be…

Asharq Al Awsat (Riyadh)
Business Lebanon's State-Owned Carrier Reverses Move to Charge in Dollars

Lebanon's State-Owned Carrier Reverses Move to Charge in Dollars

Lebanon's state-owned carrier Middle East Airlines (MEA) reversed a decision to accept payment only in US dollars after a backlash on Sunday. The decision…

Asharq Al Awsat (Beirut)
Business Saudi Electricity Company Presents Projects Worth $1.8 Bn

Saudi Electricity Company Presents Projects Worth $1.8 Bn

Saudi Electricity Company has submitted an integrated proposal for nine energy and electricity projects worth $1.8 billion for high voltage and distribution. …

Asharq Al Awsat (Riyadh)
Business Saudi Stocks: Predictions to Overcome Level of 8000 Points

Saudi Stocks: Predictions to Overcome Level of 8000 Points

The Saudi market starts the new week’s trading amid traders’ optimism that the index will be capable of reversing its negative track recorded over the past…

Shujaa al-Baqmi (Riyadh)
Business Riyad REIT, Marriott International Sign Deal to Operate 'Burj Rafal'

Riyad REIT, Marriott International Sign Deal to Operate 'Burj Rafal'

Riyad REIT revealed that it had signed a deal with Marriott International to operate its Burj Rafal Hotel in Riyadh. The operation of the hotel will be handed…

Business Saudi Aramco Says to Update Gasoline Prices on Monthly Basis

Saudi Aramco Says to Update Gasoline Prices on Monthly Basis

Saudi Aramco announced the updated gasoline prices in Saudi Arabia starting Sunday. Gasoline 91 will be sold at SAR 1.55 per liter, while gasoline 95 will be…

Business Egypt’s Unemployment Rate Fell to 8% in Fourth Quarter 2019

Egypt’s Unemployment Rate Fell to 8% in Fourth Quarter 2019

Egypt’s unemployment rate fell to 8% in the fourth quarter of 2019 from 8.9% in the same quarter in 2018, state statistics agency CAPMAS said in a statement on…

Asharq Al Awsat (Cairo)
Business Digitization Lands Saudi Arabia in 6th Place in Agility Emerging Markets Logistics Index

Digitization Lands Saudi Arabia in 6th Place in Agility Emerging Markets Logistics Index

Saudi Arabia ranked sixth globally, according to the 2020 Agility Emerging Markets Logistics Index, due to achievements by Saudi Customs. The root of the…

Asharq Al Awsat (Riyadh)
Business Aramco to Report 2019 Results in March

Aramco to Report 2019 Results in March

Saudi Aramco will report 2019 full-year results on March 16, the oil giant said on its website on Friday, its first set of financial results after the company…

Asharq Al Awsat (Riyadh)
Business Morocco's King Launches 'Green Generation 2020-2030'

Morocco's King Launches 'Green Generation 2020-2030'

Morocco's King Mohammed VI has led a ceremony to launch the new development strategy for the agricultural sector dubbed “Green Generation 2020-2030” in the…

Lahcen Mokena (Casablanca)
Business Foreigners Dump Turkish Local Assets by Close to Record Amounts

Foreigners Dump Turkish Local Assets by Close to Record Amounts

Turkish local assets were hit last week by one of the largest bouts of foreign disinvestment in the last five years, Deutsche Bank said on Friday. The…

Asharq Al Awsat
Business Official Survey Says Unemployment in West Bank, Gaza Rises 25%

Official Survey Says Unemployment in West Bank, Gaza Rises 25%

Unemployment in the Palestinian labor force rose 25 percent in 2019, revealed an official report by the Palestinian Central Bureau of Statistics on Thursday. …

Asharq Al Awsat (Ramallah)
Business Saudi Arabia, UAE Among Top 10 Logistics Markets

Saudi Arabia, UAE Among Top 10 Logistics Markets

Arabian Gulf countries have had a high ranking in the 2020 Agility Emerging Markets Logistics Index, with UAE and Saudi Arabia among the top 10 logistics…

Asharq Al Awsat (Riyadh)
Business Egypt Discusses Reinforcing Cooperation with Aramco

Egypt Discusses Reinforcing Cooperation with Aramco

Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla has discussed with Fahad al-Ammari, General Manager of Area Projects-Upstream Project…

Asharq Al Awsat (Cairo)
Business Lebanon Ponders Defaulting or Paying Eurobond

Lebanon Ponders Defaulting or Paying Eurobond

Lebanon's finance minister said Thursday that its new government is weighing whether to pay or default on its $1.2 billion Eurobond maturing next month, amid…

Asharq Al Awsat (Beirut)
Business COVID-19 Causing 1st Drop in Oil Use in Decade

COVID-19 Causing 1st Drop in Oil Use in Decade

Global oil demand will suffer its first quarterly drop in a decade as the COVID-19 virus lashes the economy in China and its impact ripples throughout the…

Asharq Al Awsat
Business Egypt Seeks Larger Role in Africa's Oil, Gas Sectors

Egypt Seeks Larger Role in Africa's Oil, Gas Sectors

A Memorandum of Understanding (MoU) was signed on Wednesday between Egyptian Petroleum Minister Tarek al-Mulla and his Somali counterpart Abdirashid Mohamed…

Asharq Al Awsat (Cairo)
Business 18 Italian Firms Discuss Economic Partnership with Tunisia

18 Italian Firms Discuss Economic Partnership with Tunisia

The representatives of 18 Italian companies have attended a workshop in the Tunisian capital to discuss partnerships in the mechatronics and Information and…

Mongi Saidani (Tunis)
Business Sudan to Continue to Subsidize Bread but with ‘Justice,’ Says Minister

Sudan to Continue to Subsidize Bread but with ‘Justice,’ Says Minister

Sudan will continue to subsidize bread prices during transitional rule after Omar al-Bashir’s ouster but wants to achieve “justice” in distributing income…

Asharq Al Awsat
Business Saudi Firm to Support Future Business Patterns

Saudi Firm to Support Future Business Patterns

Riyadh has announced the establishment of the Future Work Co. to focus on innovative, unconventional and sustainable future business patterns. The…

Fatehelrahman Yousif (Riyadh)