Middle-east Arab News Opinion | Asharq Al-awsat

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Minister of Finance Mohammed Al-Jadaan attends a joint press conference. — SPA

Saudi Arabia: Gradual Modification of Energy Prices, No Income Taxes

by Shuja Al-Baqmi | Dec 23, 2016 | Saudi Arabia

Riyadh – Saudi Arabia has announced that there are no limits for what it’s willing to spend for the sake of defending the country. “The kingdom will not determine the spending for the sake of defending the country — we took into consideration...

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A view of the King Abdullah Financial District in the Saudi capital Riyadh at sun set October 9, 2013. REUTERS/Faisal Al Nasser

Saudis Await First Budget after Launch of “Saudi Vision 2030”

by Shuja Al-Baqmi | Dec 22, 2016 | Business

Riyadh- Saudi citizens are anxiously anticipating the announcement of 2016 and 2017 budgets, in the first budget announcement after the launch of Saudi Vision 2030 amidst economic indicators that affirm that deficit will be less this year. This coincides with the fact...

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A flame rises from a chimney at Taq Taq oil field in Arbil, in Iraq’s Kurdistan region, August 16, 2014. REUTERS/Azad Lashkari/File Photo

Iraq Boosts Oil Sales to China, U.S., India: Sources

by Asharq Al-Awsat English | Dec 16, 2016 | Business

Iraq is selling more crude oil to its major customer, China’s Unipec, just before production cuts agreed with OPEC and other producers are scheduled to be in effect, people familiar with the matter say. The Unipec contract was signed just before the Organization...

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Pump jacks are seen in the Midway Sunset oilfield, California, in this April 29, 2013 file photo. REUTERS/Lucy Nicholson/Files

Oil Hits Highest Rate since 2015

by Asharq Al-Awsat English | Dec 12, 2016 | Business

Oil recorded a remarkable increase of 6.5 percent on Monday to an 18-month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices. Futures for Brent crude were up $2.21 at...

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A worker looks on at the Bashneft-Ufaneftekhim oil refinery outside Ufa, Bashkortostan, Russia January 29, 2015. REUTERS/Sergei Karpukhin/File Photo

OPEC, Non-OPEC Agree on First Global Oil Pact Since 2001

by Asharq Al-Awsat English | Dec 10, 2016 | Business

OPEC and non-OPEC oil producers on Saturday struck their first deal in a little over a decade to cut back oil output jointly and ease a global glut. With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting...