Business

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

Business The agreements were signed during the "Industrial Transformation Saudi Arabia 2025” Exhibition. SPA

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

The Ministry of Industry and Mineral Resources has signed a number of memoranda of understanding (MoUs) with leading local and international companies to…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010. REUTERS/Stringer/File Photo

China Says Working on Streamlining Rare Earth Export Licenses

China said on Thursday it is working on streamlining rare earth export licenses - a key promised outcome after a meeting between US President Donald Trump and…

Asharq Al Awsat
Business The resources at Jafurah are now estimated at 229 trillion standard cu ft of gas and 75 billion barrels of condensates. (Saudi Aramco)

Saudi Aramco's Jafurah Gas Plant Begins Output with 450 Million Cubic Feet Per Day

The first phase of oil giant Aramco's Jafurah gas plant is complete and production has begun with a capacity of 450 million cubic feet per day, the Saudi…

Asharq Al Awsat
Business Saudi Finance Minister Mohammed al-Jadaan and Economy Minister Faisal Alibrahim attend the Saudi Budget Forum (Saudi 2026 Budget Forum)

Saudi Budget Forum Reveals Govt. Spending Now Independent of ‘Oil Cycle’

Saudi Arabia’s 2026 budget forum, held a day after the Cabinet approved the new fiscal plan under the chairmanship of Crown Prince and Prime Minister Mohammed…

Abir Hamdi (Riyadh)
Business The Saudi capital Riyadh. Reuters file photo

Saudi Non-oil Business Activity Expands in November

Saudi Arabia's non-oil private sector business activity expanded at its fastest rate in 10 months in November, driven by robust demand and increased hiring,…

Asharq Al Awsat

Business Saudi Arabia’s King Khalid International Airport. (SPA)

Saudi Arabia’s King Khalid International Airport Launches New AirAsia X Route to Bangkok

Saudi Arabia’s King Khalid International Airport, managed by Riyadh Airports Company, announced on Wednesday the launch of a new air route connecting Riyadh…

Business FILED - 06 June 2024, Brandenburg, Schoenefeld: The Airbus logo can be seen behind a model of the Eurodrone during the International Aerospace Exhibition (ILA) at Berlin Brandenburg Airport (BER). Photo: Sebastian Gollnow/dpa

Airbus Cuts 2025 delivery Target after Issues with Top-selling Jet

Airbus cut its 2025 delivery target to around 790 commercial aircraft on Wednesday, 30 fewer than previously expected, but maintained financial goals following…

Asharq Al Awsat
Business A customer shops at a stall in a bazaar in Istanbul on September 6, 2022. (AFP)

Türkiye Inflation Dips More than Expected to Near 31% 

Turkish inflation eased to 31.07% annually and 0.87% month-on-month in November, both below expectations due to food prices, official data showed on Monday,…

Business An infrastructure project under construction in Cairo, Egypt, 02 December 2025. (EPA)

Egypt’s Non-Oil Private Sector Sees Strongest Growth in Five Years in November, PMI Shows 

Egypt's non-oil private sector recorded its fastest growth in five years in November, driven by sharp increases in output and new orders, a business survey…

Business FILE PHOTO: Two HSBC bank logos are displayed on an office building in Mexico City, Mexico, July 25, 2025. REUTERS/Henry Romero/File Photo/File Photo

HSBC Names Brendan Nelson Chairman in Surprise Move

HSBC Holdings' interim chairman Brendan Nelson will move into that role on a permanent basis, in a surprise move that came seven months after the Asia-focused…

Asharq Al Awsat
Business A night view of Riyadh, Saudi Arabia. (SPA)

Syria to Participate as Guest of Honor at Third Edition of ‘Made in Saudi’ Exhibition 

Syria will participate as the Guest of Honor at the third edition of the “Made in Saudi” exhibition that will be held in Riyadh from December 15 to 17. …

Business Saudi Minister of Finance Mohammed Al-Jadaan speaks at Tuesday's press conference. (SPA)

Finance Minister: Saudi Arabia to Maintain Expansionary Spending in 2026 Budget 

Saudi Minister of Finance Mohammed Al-Jadaan stressed on Tuesday that the government will continue with expansionary spending in the 2026 budget, highlighting…

Business Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak lead Joint Ministerial Committee session (X)

Riyadh, Moscow Advance Strategic Partnership Beyond Oil to Steady Markets

The Saudi-Russian Investment and Business Forum 2025 concluded in Riyadh, closing a packed day of high level strategic dialogue aimed at anchoring a bilateral…

Fatehelrahman Yousif (Riyadh)
Business A drone view shows Adra industrial city in Damascus, Syria, July 10, 2025. REUTERS/Stringer

UK Defines Rules for Business with Syria as Firms Explore Post-sanctions Market

Britain on Tuesday set out rules for companies and banks considering investing in Syria, responding to growing interest from businesses after Western powers…

Asharq Al Awsat
Business A Turkish Petroleum (TPAO) engineer poses on the helipad of Turkish drilling vessel Yavuz in the eastern Mediterranean Sea off Cyprus, August 6, 2019. Picture taken August 6, 2019. REUTERS/Murad Sezer

Türkiye's TPAO Signs Deals with Pakistani Companies for Hydrocarbon Exploration and Production

Türkiye's state oil company TPAO signed hydrocarbon exploration and production agreements with Pakistani companies including Mari Energy, Fatima, OGDCL, PPL,…

Asharq Al Awsat
Business Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold Falls 1% as Investors Book Profits, Treasury Yields Rise

Gold prices fell 1% on Tuesday, pressured by rising US Treasury yields and profit-booking following a six-week high hit in the prior session, while silver…

Asharq Al Awsat
Business FILED - 30 July 2025, North Rhine-Westphalia, Duisburg: Containers are loaded onto barges in the port of Duisburg. Photo: Oliver Berg/dpa

OECD Raises US, Eurozone Growth Targets as World Economy 'Resilient'

The world economy has been "surprisingly resilient" in the face of adversity this year, the OECD said Tuesday, raising its growth estimates for key economies,…

Asharq Al Awsat

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Business Alkhorayef tours the Saudi Industrial Transformation Expo 2025. (Asharq Al-Awsat)

Saudi Arabia Launches Center to Steer Industrial Transformation, Expand Adoption of 4IR Technologies

Saudi Arabia’s Ministry of Industry and Mineral Resources has launched the Advanced Manufacturing and Production Center, a national hub designed to lead the…

Asharq Al Awsat (Riyadh)
Business A photo from the opening ceremony of the Priority Summit in Tokyo (Future Investment Initiative)

Saudi Arabia’s Sovereign Fund Plans to Boost Investments in Japan to $27 Billion by 2030

Yasir Al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund (PIF) and Chairman of the Future Investment Initiative (FII) Institute, announced that the…

Asharq Al Awsat (Tokyo)
Business Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas

Bankers: Türkiye Cenbank Net Reserves Rose $2.5 Billion Last Week

The Turkish Central Bank's net reserves increased by around $2.5 billion last week due to rising gold prices, according to bankers. Calculations by five…

Asharq Al Awsat
Business Photo of the previous edition of the conference (SPA)

Riyadh to Host Third International Labor Market Conference in January

Under the patronage of King Salman bin Abdulaziz, Riyadh will host the third edition of the International Labor Market Conference, organized by the Ministry of…

Asharq Al Awsat (Riyadh)
Business Novak speaking at the Saudi-Russian Investment and Business Forum 2025. (X). 

Novak to Asharq Al-Awsat: Russia and Saudi Arabia Achieved Remarkable Success in Global Bilateral Cooperation

Russian Deputy Prime Minister Alexander Novak has underscored the “central” nature of Saudi-Russian relations, emphasizing what he described as “significant…

Fatehalrahman Youssef (Riyadh)
Business The Joint Intergovernmental Saudi-Russian Commission on Trade, Economic, Scientific and Technical Cooperation meets in Riyadh on Monday. (SPA)

Saudi-Russian Joint Commission Holds 9th Meeting in Riyadh

The 9th session of the Joint Intergovernmental Saudi-Russian Commission on Trade, Economic, Scientific and Technical Cooperation convened in Riyadh on Monday,…

Business A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. (Reuters)

Iraq Invites US Companies to Bid on Oil Field Run by Russia’s Lukoil

Iraq's oil ministry announced on Monday that it had invited US companies to bid on an oil field which had been operated by the now American-sanctioned Russian…

Business Rosneft's Russian-flagged crude oil tanker Vladimir Monomakh transits the Bosphorus in Istanbul, Türkiye , July 6, 2023. REUTERS/Yoruk Isik//File Photo P

Türkiye Cuts Russian Urals Oil Imports in November, Diversifies with Kazakh, Iraqi Supply

Türkiye sharply reduced its imports of Russia's flagship Urals crude oil in November, shipping data from energy consultancy Kpler showed, as Western sanctions…

Asharq Al Awsat
Business The Saudi capital Riyadh. Reuters file photo

Saudi PIF and its Commercial Paper Programs Earn S&P’s A-1 Short-term Credit Rating with Stable Outlook

The Public Investment Fund (PIF) announced on Monday that S&P Global Ratings has assigned it an inaugural short-term credit rating of A-1 with stable outlook,…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia's Energy Minister speaks at the opening of the Saudi-Russian Investment and Business Forum 2025 (X).

Saudi Energy Minister Says OPEC+ Meeting's Outcome a 'Turning Point'

Saudi Energy Minister Prince Abdulaziz bin Salman said the agreement reached during Sunday’s OPEC+ meetings marks “a turning point and one of the most…

Asharq Al Awsat
Business An illustration photograph taken on November 22, 2025, shows a gold plated souvenir Bitcoin coin reflected in a mirror and arranged for a photograph in front of a computer screen displaying the Bitcoin monthly price chart in a residential property in Guildford, south of London. (Photo by Justin TALLIS / AFP)

Bitcoin Falls 5% Below $90,000 as Investors Ditch Risk Assets

Bitcoin fell back below $90,000 on Monday, extending losses after its steepest monthly decline since the 2021 crypto crash, as renewed risk aversion drove…

Asharq Al Awsat
Business  A screen displays delays in IndiGo flights at the Indira Gandhi International Airport in Delhi, India, November 29, 2025. (Reuters)

Airbus Says Most of Its Recalled 6,000 A320 Jets Now Modified

Airbus fleets were returning towards normal operations on Monday after the European planemaker pushed through abrupt software changes faster than expected, as…