Business

Norway Wealth Fund Divests from Israel's Bezeq over West Bank Settlements

Business FILE PHOTO: A view of new buildings around the Israeli settlement Talmon B near the Palestinian town of Mazraa Al-Qibleyeh near Ramallah, in the Israeli-occupied West Bank, November 20, 2024. REUTERS/Mohammed Torokman/File Photo

Norway Wealth Fund Divests from Israel's Bezeq over West Bank Settlements

Norway's sovereign wealth fund, the world's largest, has sold all of its shares in Israel's Bezeq as it provides telecoms services to the Israeli settlements…

Asharq Al Awsat
Business The collaboration seeks to leverage each company's expertise to develop an SAF plant in the Eastern Province of the Kingdom. SPA

Aramco, TotalEnergies, SIRC Mull Establishment of Sustainable Aviation Fuel Plant in Saudi Arabia

Saudi Aramco, TotalEnergies, and the Saudi Investment Recycling Company (SIRC) have said they signed a joint development and cost-sharing agreement, aiming at…

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

Saudi Arabia Advances Climate Action at 2024 SGI Forum with $60 Million in New Funding

The fourth edition of the Saudi Green Initiative (SGI) Forum kicked off on Tuesday, coinciding with the 16th session of the United Nations Convention to Combat…

Business PIF Hosts 7th Annual One Planet Sovereign Wealth Funds Summit in Riyadh

PIF Hosts 7th Annual One Planet Sovereign Wealth Funds Summit in Riyadh

Saudi Arabia’s Public Investment Fund (PIF) organized the seventh annual summit for the One Planet Sovereign Wealth Funds (OPSWF) Group in Riyadh on Tuesday. …

Business Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, (C-R) stands with French President Emmanuel Macron (C-L) for a group photo together with other heads of state participating in the One Water Summit in the capital Riyadh on December 3, 2024. (AFP)

Crown Prince: Saudi Arabia Has Contributed $6Bln to Support 200 Development Projects in 60 Countries

Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, said on Tuesday that the Kingdom has contributed USD6 billion in supporting…


Business Kazakhstan’s First Vice Minister of Water Resources, Bekniyaz Bolat (Asharq Al-Awsat)

Kazakh Official Reveals Details of Water Summit Co-Chaired with Saudi Arabia, France

A Kazakh official has outlined plans for a trilateral summit to organize a global event under the “One Water Summit” initiative. The summit, which will be…

Fatehelrahman Yousif (Riyadh)
Business Saudi Arabia’s Environment Minister Abdulrahman Al-Fadli assumes the Kingdom’s presidency of COP16 in Riyadh. (Asharq Al-Awsat)

COP16 Riyadh Gathers Policymakers to Combat Desertification, Restore Land

Policymakers, international organizations, companies, NGOs and key stakeholders gathered in Riyadh on Monday to address global challenges like land degradation…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A man is seen at an exit of the refinery plants of Chambroad Petrochemicals in Binzhou, Shandong province, China October 24, 2019. REUTERS/Stringer/File Photo

Oil Prices Nudge Higher Ahead of OPEC+ Meeting

Oil prices climbed nearly 1% on Tuesday, as traders awaited the outcome of an OPEC+ meeting later this week. Brent crude futures rose 66 cents, or 0.92%, to …

Asharq Al Awsat
Business  People shop at a fresh market in Istanbul, Türkiye, July 5, 2024. (Reuters)

Türkiye Inflation Higher than Expected, Teeing up Tough Rate Decision

Turkish inflation was higher than expected at 47.09% annually and 2.24% on a monthly basis in November, official data showed on Tuesday, potentially reducing…

Business FILE PHOTO: A woman picks a gold earring at a jewelry shop in the old quarters of Delhi, India, May 24, 2023. REUTERS/Anushree Fadnavis/File Photo

Gold Edges Up as Investors Seek Fed Clues from US Data

Gold prices edged higher on Tuesday, supported by US rate cut bets and geopolitical concerns, while the focus shifted to economic data due this week for clues…

Asharq Al Awsat
Business The agreement sets a regulatory framework for air transport operations between the two countries and aligns with the goals of Saudi Arabia's civil aviation sector strategy.  (SPA)

Saudi Arabia, Lithuania Sign Agreement to Bolster Air Transport Cooperation

Saudi Arabia and Lithuania signed on Monday an agreement to enhance cooperation in air transport services. The accord was formalized by General Authority of…

Business Aramco’s pavilion at the Global Future Investment Initiative conference held in Riyadh (FII webiste)

Aramco Completes Acquisition of 10% Stake in Horse Powertrain Limited

Aramco, one of the world's leading integrated energy and chemicals companies, through a directly and wholly owned subsidiary, Aramco Asia Singapore Pte. Ltd.,…

Asharq Al Awsat
Business Riyadh residents ride the Riyadh Metro on its launch day on Sunday. (Turky al-Agili)

Asharq Al-Awsat Tours Riyadh Metro on First Day of its Launch

“Big achievements take time,” remarked university student Ahmed Al-Omari quoting a Saudi proverb as the Riyadh Metro officially began operations, opening three…

Business Future designs of King Salman Stadium and its sports facilities, one of the largest sports stadiums in the world (Royal Commission for the City of Riyadh)

Saudi Arabia’s 2034 World Cup: A Catalyst for Economic Transformation

As the official announcement approaches on December 11 for the host of the 2034 FIFA World Cup, all eyes are on Saudi Arabia, as this monumental sporting…

Ayat Nur (Riyadh)
Business Riyadh is hosting this Monday the 16th Conference of the Parties (COP 16). (Asharq Al-Awsat)

COP 16 Launches Monday in Riyadh: Advancing a World Free of Desertification

Global attention turns to Riyadh, Saudi Arabia, as it hosts the 16th Conference of the Parties (COP 16) under the United Nations Convention to Combat…

Asharq Al Awsat (Riyadh)
Business FILE - Pump jacks work in a field near Lovington, N.M., April 24, 2015. (AP Photo/Charlie Riedel, File)

Oil Rises on Upbeat China Data, Shaky Israel-Lebanon Ceasefire

Oil prices rose on Monday, supported by strong factory activity in China, the world's second-largest oil consumer, and heightened tensions in the Middle East…

Asharq Al Awsat
Business A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's Net Foreign Assets Slid in October

Egypt's net foreign assets (NFAs) dropped by $1.12 billion in October after a rise in September, central bank data shows. NFAs declined to the equivalent of …

Asharq Al Awsat

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Business King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

Saudi Government Calls for Private Sector Involvement to Enhance Vision 2030 Reports

The Saudi government has directed greater private sector involvement in shaping the content of Vision 2030 communications and reports, according to sources who…

Bandar al-Mosalam (Riyadh)
Business A green space in Saudi Arabia (Asharq Al-Awsat)

Al-Abdulqader to Asharq Al-Awsat: COP16 to Advocate for Strategies Against Desertification

Dr. Khalid Al-Abdulqader, CEO of Saudi Arabia’s National Center for Vegetation Cover Development and Combating Desertification, stated that the upcoming 16th…

Asharq Al Awsat (Riyadh)
Business Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024.  EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL

Putin Approves Military Focused 2025-2027 Budget

Russian President Vladimir Putin has approved a military focused budget for 2025-2027, a document published on the official legal acts website showed on Sunday…

Asharq Al Awsat
Business File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Economic and Development Affairs Council. Asharq Al-Awsat

Saudi Economic and Development Affairs Council Discusses Report on Performance of State Budget

Saudi Arabia’s Economic and Development Affairs Council has held a meeting via videoconference, discussing several issues, including the performance of the…

Asharq Al Awsat (Riyadh)
Business Taking place in Riyadh from December 3-4, the forum will convene global leaders, climate experts, senior government officials, and industry CEOs to advance discussions and action on global climate challenges. (COP16 Riyadh on X)

Saudi Arabia Reveals Agenda of 2024 Saudi Green Initiative Forum at UNCCD COP16

Saudi Arabia revealed on Saturday the program for the fourth edition of the Saudi Green Initiative (SGI) Forum. Taking place in Riyadh from December 3-4…

Business A woman and a child look at shops in a mall on Black Friday in Arlington, Virginia on November 29, 2024. (AFP)

Black Friday Data Shows US Shoppers Spent $10.8 Bln Online

US shoppers used their mobile phones, laptops, desktops and other devices to make roughly $10.8 billion in purchases online on Black Friday, an updated tally…

Business  French Minister for the Economy, Finance and Industry Antoine Armand arrives for a dinner in honor of the President of Nigeria, at the Elysee palace in Paris, on November 28, 2024. (AFP)

French Finance Minister Says Budget Can Still Be Improved

French Finance Minister Antoine Armand said on Saturday that the 2025 budget could still be improved, but stopped short of giving ground in a standoff with the…

Business The media was given a tour of the new Riyadh Metro ahead of its official opening on Sunday. (Asharq Al-Awsat)

Riyadh Metro Begins Operation on Sunday to Ease Traffic in Saudi Capital

The Riyadh Metro, the backbone of the capital’s public transport network, will begin operation on Sunday. The Riyadh Metro project is the largest in the…

Business People wait in a queue to enter the Lego store during Black Friday shopping in New York, New York, USA, 29 November 2024. (EPA)

Is Black Friday Still a Holiday Shopping Juggernaut in 2024?

After weeks of pushing early deals, retailers in the United States and some other countries tried to seduce customers with promises of bigger discounts on…

Business A view shows the Bercy Economy and Finance Ministry as a metro operated by the Paris transport network RATP passes over the Pont de Bercy bridge in Paris, France, November 28, 2024. REUTERS/Stephanie Lecocq

Inflation Rose to 2.3% in Europe. That Won't Stop the Central Bank from Cutting Interest Rates

Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as…

Asharq Al Awsat
Business FILE PHOTO: An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo

Oil Prices Set to End Week over 3% Lower as Supply Risks Ease

Oil prices fell on Friday, heading for a weekly drop of more than 3%, as concerns over supply risks from the Israel-Hezbollah conflict eased, alleviating…

Asharq Al Awsat
Business The MoU underscores the exchange of knowledge to boost economic collaboration. SPA

Saudi Arabia, Comoros Sign MoU on Economic Cooperation

The Saudi Ministry of Economy and Planning and the Ministry of Economy, Industry and Investment of Comoros have signed a memorandum of understanding (MoU) to…

Asharq Al Awsat (Riyadh)