Middle-east Arab News Opinion | Asharq Al-awsat

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A pump jack stands idle in Dewitt County, Texas January 13, 2016. (Reuters)

Oil Output Cuts between Saudi Wish and Russian Hopes

by Sabri Najeh | Apr 13, 2017 | Business

Cairo – After the success achieved by the Organization of the Petroleum Exporting Countries (OPEC) in cutting down oil output, Saudi Arabia told OPEC officials it wants to continue output cuts for an additional six months – however with every oil agreement,...

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Central Bank of Egypt’s headquarters is seen in downtown Cairo, Egypt March 8, 2016. REUTERS/Mohamed Abd El Ghany

Egyptian Stocks Fall 1.6% Following Terrorist Attacks

by Sabri Najeh | Apr 10, 2017 | Business

Cairo- The Egyptian index closed 1.55 percent lower due to purchase pressures by individual Egyptian investors, reaching 12895.12 points after a panic status that ensued from two terrorist attacks that targeted two Coptic churches. The market capital closed at EGP...

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Russian Energy Minister Alexander Novak attends an international conference dedicated to the 175th anniversary of Sberbank in Moscow, Russia November 10, 2016. REUTERS/Sergei Karpukhin

Oil Rates Bounce Back 4 Percent on OPEC, Russia Negotiations in Doha

by Sabri Najeh | Nov 16, 2016 | Business

Cairo- Oil rates continued bouncing back on Tuesday from a multi-months low. The increase was realized based on hopes of a majority vote for a production agreement being reached at the Organization of the Petroleum Exporting Countries (OPEC) upcoming November meeting....

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Egypt has been struggling to boost its foreign currency reserves in the political and economic turmoil following the January 2011 uprising that toppled former ruler Hosni Mubarak ©Patrick Baz (AFP/File)

Egypt’s Pound Devalued After a Currency Float

by Sabri Najeh | Nov 4, 2016 | Business

Cairo- Egypt’s Central Bank on Thursday took a “historic” but nevertheless dangerous step when it decided to devaluate its local currency, a decision expected by several observers after the Egyptian Pound fell to its historic levels, exceeding the official price by...

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Saudi Aramco Chief Executive Officer Khalid al-Falih speaks to the media at the company’s booth during Petrotech 2014 May 19, 2014. REUTERS/Hamad I Mohammed

Saudi Arabia to Establish its First Nuclear Plant

by Sabri Najeh | Oct 20, 2016 | Business

Cairo – Saudi Arabia is planning to expand its nuclear power through Saudi’s first nuclear plant in order to diversify its energy sources. Khalid al-Falih, Saudi energy Minister and Chairman of Aramco said Saudi Arabia is looking into choosing a site for the first...