Middle-east Arab News Opinion | Asharq Al-awsat

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An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. Pump jacks are used to pump crude oil out of the ground after an oil well has been drilled. REUTERS/Todd Korol

Oil Producers Await a Change in Saudi Stance

by Wael Mahdi | Sep 25, 2016 | Business

Khobar- Saudi Arabia has been adopting since 2014 a clear oil policy that is based on maintaining market share and letting the market fix itself by itself. This policy depends on the philosophy which says that prices might not rise – then Saudi Arabia might lose...

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Accommodation, Communication Services Appropriate Largest Part of Pilgrims’ Expenditure

by Fahd Baqmi | Sep 10, 2016 | Business

Jeddah-The two economic sectors greatly affected by the annual Hajj pilgrimage season, directly proportional to the economic term of Hajj tourism, are sectors serving accommodation services and communication. Revenue for each of those businesses is increased during...

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A labourer works at Nahr Bin Umar oil field, north of Basra, southeast of Baghdad, Iraq (Reuters / Essam Al-Sudani) / Reuters

Iraq Sets Sight on Expanding Market Share, Will Not Slow Oil Production

by Asharq Al-Awsat English | Aug 27, 2016 | Business

Willing to play a role within OPEC’s plan to support oil prices, however, Iraq will not sacrifice its chief goal of expanding market share. The oil nation will continue to increase output, its oil minister said on Saturday. OPEC’s second-largest producer,...

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Saudi Arabia

Saudi Arabia Further Approves Amended Rules for Foreign Investments

by Asharq Al-Awsat | Aug 11, 2016 | Business

Riyadh – Saudi Capital Market Authority (CMA) Board approved the final amended Rules for Qualified Foreign Financial Institutions Investment (QFFII) in Listed Securities. The approval comes after the draft of QFFII was published on the CMA’s website for 30 days...

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Egypt Announces Loan Talks with IMF

by Asharq Al-Awsat | Jul 28, 2016 | Middle East

Cairo-After hours of conflicting news and rumors, the Egyptian government announced it had officially requested a loan from the International Monetary Fund (IMF). IMF has not determined yet the amount of loan, yet Egyptian sources confirmed it is four billion dollars...