Business

Saudi Gold Refinery Obtains 10 Gold Exploration Licenses in Tanzania

Business A gold mine in Saudi Arabia (SPA) 

Saudi Gold Refinery Obtains 10 Gold Exploration Licenses in Tanzania

Saudi Gold Refinery Company (SGR) announced Sunday it has secured 10 licenses to explore gold in the Republic of Tanzania, covering a total area of nearly 1…

Asharq Al Awsat (Riyadh)
Business A worker walks past oil pipes at a refinery in Wuhan, Hubei province March 23, 2012. (Reuters)

Oil Falls as Trump Says New Iran Attacks ‘Unlikely’

Oil prices fell at Monday's open after US President Donald Trump said he was highly unlikely to order new Iran attacks while talks to end the conflict make…

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 Moroccan Government Approves 2020 Draft Budget

Moroccan Government Approves 2020 Draft Budget

Morocco’s government approved during its weekly session on Thursday the 2020 draft budget, which is expected to be referred to the parliament before next…

Asharq Al Awsat (Rabat)
Business Sudan to Produce Electricity from Renewable Resources

Sudan to Produce Electricity from Renewable Resources

Sudanese renewable energy experts called for the establishment of an institution responsible for producing alternative energies. They also requested…

Ahmed Khalil (Khartoum)
Business UAE's ADNOC Evaluates Collaboration for Chemical Production Complex in India

UAE's ADNOC Evaluates Collaboration for Chemical Production Complex in India

The Abu Dhabi National Oil Company, ADNOC, Adani Group, BASF SE and Borealis AG have signed a Memorandum of Understanding to engage in a joint feasibility…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Exports Concludes Participation in Kuwait Oil, Gas Conference 2019

Saudi Exports Concludes Participation in Kuwait Oil, Gas Conference 2019

The Saudi Export Development Authority (Saudi Exports) concluded its participation in the Kuwait Oil and Gas Show and Conference 2019, which was held in Kuwait…

Business Tunisia Tourism Ministry Tells Hotels to Send Invoices to Thomas Cook HQ

Tunisia Tourism Ministry Tells Hotels to Send Invoices to Thomas Cook HQ

Tunisian Tourism Minister Rene Trabelsi urged owners of 40 hotels affected by the closure of the British travel agency, Thomas Cook, to file complaints, send…

Mongi Saidani (Tunis)
Business Saudi Ministry of Justice: Women Empowerment Reforms in Legal Sector ‘Key to Economic Growth’

Saudi Ministry of Justice: Women Empowerment Reforms in Legal Sector ‘Key to Economic Growth’

Legal reforms designed to empower women in Saudi Arabia could hold the key to the nation’s economic growth and the fulfillment of Vision 2030, the Saudi…

Asharq Al Awsat (Riyadh)
Business Oil Rises 1% on Signs OPEC Will Extend Supply Cuts

Oil Rises 1% on Signs OPEC Will Extend Supply Cuts

Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on…

Asharq Al Awsat (London)
Business Etihad, Air Arabia Set up Low Cost Carrier in Abu Dhabi

Etihad, Air Arabia Set up Low Cost Carrier in Abu Dhabi

Etihad Airways and Air Arabia are jointly setting up a low cost carrier in Abu Dhabi, they said on Wednesday. Air Arabia Abu Dhabi will be an independent…

Asharq Al Awsat (Abu Dhabi)
Business US Accuses Turkey's Halkbank of Scheme to Evade Iran Sanctions

US Accuses Turkey's Halkbank of Scheme to Evade Iran Sanctions

US prosecutors on Tuesday charged Turkey’s majority state-owned Halkbank (HALKB.IS) with taking part in a multibillion-dollar scheme to evade US sanctions…

Asharq Al Awsat (New York )
Business Egypt's Oil Sector Hits Highest Investment Rate Value at $30Bn

Egypt's Oil Sector Hits Highest Investment Rate Value at $30Bn

Egypt's Minister of Petroleum and Mineral Resources Tarek El Molla said that over the past five years, his country’s oil and gas sector has for the first time…

Asharq Al Awsat (Cairo)
Business IMF: Saudi Non-Oil Sector to Strengthen

IMF: Saudi Non-Oil Sector to Strengthen

The International Monetary Fund (IMF) showed strong optimism for the growth of the Saudi non-oil sector in a report published on Tuesday. The organization…

Asharq Al Awsat (Riyadh) Asharq Al Awsat (London )
Business Abu Dhabi Real Estate Prices Stabilize

Abu Dhabi Real Estate Prices Stabilize

Real estate sales prices and rental rates in Abu Dhabi saw a marginal decline during the third quarter of 2019, a recent report by Chestertons Estate Agents…

Asharq Al Awsat (Abu Dhabi)
Business Barkindo: OPEC, Allies to Maintain Oil Market Stability Beyond 2020

Barkindo: OPEC, Allies to Maintain Oil Market Stability Beyond 2020

The Organization of the Petroleum Exporting Countries and its allies are committed to maintaining oil market stability beyond 2020, with physical supplies…

Asharq Al Awsat (London)
Business IMF Expects Egypt Economy to Grow 5.9% in Year to End of June

IMF Expects Egypt Economy to Grow 5.9% in Year to End of June

Egypt’s economy is expected to grow 5.9% in the year ending in June, the International Monetary Fund said on Tuesday — unchanged from its April forecast but…

Asharq Al Awsat
Business Lebanon: Bakeries Suspend Strike After Promises to Resolve Dollar Crisis

Lebanon: Bakeries Suspend Strike After Promises to Resolve Dollar Crisis

Bakery owners suspended their strike on Monday after receiving promises by Prime Minister Saad Hariri to resolve a crisis resulting from their obligation to…

Asharq Al Awsat (Beirut)
Business Saudi Arabia, Russia Discuss Project to Enter Africa’s Agricultural Market

Saudi Arabia, Russia Discuss Project to Enter Africa’s Agricultural Market

Saudi Arabia and Russia expressed on Monday their desire to cooperate in agriculture investments that could later on enter Africa. Top agriculture officials…

Mohammed al-Hamidi (Riyadh)
Business Saudi Arabia, Russia Ink Numerous Deals During Putin Visit to Riyadh

Saudi Arabia, Russia Ink Numerous Deals During Putin Visit to Riyadh

Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Russian President Vladimir Putin oversaw on Monday the signing of numerous deals during a…

Asharq Al Awsat
Business Kuwait Refuses Adopting Government Budget Estimates at $91Bn

Kuwait Refuses Adopting Government Budget Estimates at $91Bn

Kuwait’s Ministry of Finance will not approve preliminary estimates from government agencies for the draft budget for the fiscal year (2020-2021) that amounted…

Asharq Al Awsat (Kuwait)
Business Saudi Arabia Offers Largest Integrated Logistics Platform for Private Investment

Saudi Arabia Offers Largest Integrated Logistics Platform for Private Investment

Saudi Arabia has offered the largest integrated logistics zone for the private sector to invest in, Saudi Minister of Transportation said on Sunday. …

Fatehelrahman Yousif (Riyadh)
Business Turkish Lira Slips but Traders Doubt Trump's Sanctions Threat

Turkish Lira Slips but Traders Doubt Trump's Sanctions Threat

Turkey's lira slipped 0.6% on Monday after US President Donald Trump warned of "powerful" sanctions over the country's offensive into Syria, a somewhat muted…

Asharq Al Awsat
Business Lebanon: McKinsey Recommendations Coupled with Government Initiative Create 3,850 Job Opportunities

Lebanon: McKinsey Recommendations Coupled with Government Initiative Create 3,850 Job Opportunities

The Lebanese Ministry of Industry, in cooperation with the Association of Industrialists, has announced 3,850 job vacancies in the sector, given the…

Hanan Hamdan (Beirut)
Business Saudi Minister of Transport Announces Offering AlKhomra Logistics Zone for Investment to Private Sector

Saudi Minister of Transport Announces Offering AlKhomra Logistics Zone for Investment to Private Sector

Minister of Transport Dr. Nabeel bin Mohammed Al-Amoudi, announced the offering of AlKhumra Logistics Zone in Jeddah for investment to the private sector. …

Business UAE-Saudi Coordination Council Holds Follow Up Meeting of Joint Initiatives

UAE-Saudi Coordination Council Holds Follow Up Meeting of Joint Initiatives

The Executive Committee of the Saudi-UAE Coordination Council held its meeting to enhance cooperation between the two countries under the co-chairmanship of…

Asharq Al Awsat (Dubai)
Business Lebanon's Bakeries Go on Strike Monday, MOE Says Rejects Citizens’ Blackmail

Lebanon's Bakeries Go on Strike Monday, MOE Says Rejects Citizens’ Blackmail

The Minister of Economy and Trade Mansour Bteish described a decision by the owners of bakeries to strike on Monday as extortion of the Lebanese citizens. …

Asharq Al Awsat (Beirut)