Middle-east Arab News Opinion | Asharq Al-awsat

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The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria September 21, 2017. REUTERS/Leonhard Foeger

Oil prices Rise Ahead of OPEC Meeting on Supply Cut Extension

by Asharq Al-Awsat English | Sep 22, 2017 | Business

Oil prices were at rise on Friday, as traders waited to see whether major oil- producing countries planned to meet in Vienna would extend production cuts to reduce the global crude glut. International benchmark Brent crude futures were at $56.51 a barrel at 0644 GMT,...

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A man counts foreign banknotes at a money changer in central
Cairo. (Image: Reuters)

Egypt: FDI Grows by 12% in Nine Months

by Asharq Al-Awsat | Jul 17, 2017 | Business

Cairo- The Egyptian Ministry of Investment and International Cooperation said on Saturday the foreign direct investment (FDI) in Egypt rose by 12% in the first nine months of the fiscal year 2016-17, recording $6.6bn compared to $5.9bn in the same period of 2015-16....

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Saudi Arabia Begins to Apply Selective Tax

by Fatah Al-Rahman Youssef | Jun 12, 2017 | Business

Saudi Arabia has started to apply he selective tax on goods and products harmful to human health and the environment such as tobacco, energy drinks (100 percent) and soft drinks (50 percent). Economists see that the implementation of the selective tax in Saudi Arabia...

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Saudi Arabia’s Energy Minister Khalid al-Falih (L) and Russia’s Energy Minister Alexander Novak attend a joint briefing in Beijing, China May 15, 2017. REUTERS/Aly Song

Saudi Arabia, Russia Agree on Extending Oil Cuts Until March 2018

by Asharq Al-Awsat English | May 15, 2017 | Business

Saudi Arabia and Russia, the world’s two top oil producers, said on Monday they favor extending oil output cuts for a further nine months until March 2018 to hold back a global crude glut, pushing up prices. The timing of the announcement ahead of OPEC’s...

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Khalid al-Falih Saudi energy minister attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 19, 2017. REUTERS/Ruben Sprich

Saudi Energy Minister Says OPEC Deal May Be Extended Beyond 2017

by Asharq Al-Awsat English | May 8, 2017 | Business

Oil prices rose on Monday after Saudi Arabia’s energy minister Khalid Al-Falih said he still expected an OPEC-led deal to cut output during the first half of the year to be extended to all of 2017. “Based on the consultation I have had with participating...