Business

World Bank Projects Lebanon Economy to Contract by 6.4% Due to War

Business People inspect a damaged building after an Israeli airstrike on the village of Ansar, southern Lebanon, 15 August 2026. (EPA)

World Bank Projects Lebanon Economy to Contract by 6.4% Due to War

The World Bank on Friday projected that Lebanon's economy would contract by 6.4 percent this year, as the latest Israel-Hezbollah war derailed the country's…

Business Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui

Tunisia Olive Oil Exports Surge 55%, Bringing in $1.6 billion

Tunisia's olive oil exports surged 55.3% to a record 368,000 metric tons in the first nine months of the 2025/26 season, bringing in $1.6 billion in export…

Asharq Al Awsat
Business South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration

South African Rand Hits Strongest Level since Start of Iran War

The South African rand strengthened on Friday to its strongest level since the United States and Israel launched attacks on Iran on February 28, as rising gold…

Asharq Al Awsat
Business FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin Jumps Further on US Crypto Policy Hopes

Bitcoin surged Friday on optimism over US cryptocurrency legislation and the US Treasury's surprise move to buy back more of its own bonds, which fueled a…

Asharq Al Awsat
Business FILE PHOTO: A salesman arranges gold bangles inside a jewelry showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo

Gold Climbs to Near Three-month Peak after US Treasury Move

Gold prices hit a near three-month high on Friday, poised for a third straight weekly gain, supported by a softer dollar and the US Treasury's bond buyback…

Asharq Al Awsat

Business PRODUCTION - 19 August 2026, North Rhine-Westphalia, Duisburg: A truck is being loaded with a forklift at the Duisport Port in Duisburg while a ship is at anchor. Photo: Bernd Thissen/dpa

Euro Zone Business Activity Growth Hits Highest Since November

Euro zone business activity has grown at its fastest pace this year in August, buoyed by stronger new orders — particularly in manufacturing — and a return to…

Asharq Al Awsat
Business A fuel pump at a Rosneft gas station in Moscow, Russia, 19 August 2026. (EPA)

Oil Set for Second Weekly Rise as Unsettled US-Iran War Crimps Supply

Oil prices fell slightly on Friday, but were on track for a second weekly rise as the stalemated US-Iran war continues to disrupt supply from the key Middle…

Business The Saudi capital, Riyadh (SPA) 

Saudi Listed Real Estate Firms Post $766 Million in First-Half Profit

Saudi Arabia’s listed real estate companies posted combined net profit of more than $766 million (SAR 2.87 billion) in the first half of 2026, reflecting a…

Mohammed al-Mutairi (Riyadh)
Business An electronic display in Washington, DC, shows the US national debt on Aug. 19, as federal debt surpassed $40 trillion for the first time. (AFP via Getty Images)

US Debt Hits $40 Trillion as Higher Yields Open New Opportunities for Gulf Investors

As US debt surpasses $40 trillion, Gulf investors are looking beyond the record figure to the broader implications of Treasury yields for capital flows,…

Abeer Hommadi (Riyadh)
Business Prime Minister of Libya's Government of National Unity (GNU) Abdulhamid Dbeibah (Dbeibah's office)

Libya’s Dbeibah Halts Steel Firm's Production Due to Power Shortages

Prime Minister of Libya's Government of National Unity (GNU) Abdulhamid Dbeibah ordered the country's biggest steel firm, state-owned Lisco, to halt production…

Asharq Al Awsat (Cairo)
Business FILE PHOTO: A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019.  REUTERS/Florence Lo/Illustration/File Photo

Swiss and Chinese Reach Agreement on Updated Free Trade Deal

Switzerland and China have completed negotiations on an updated free trade deal which will increase Swiss access to its third biggest trading partner, Swiss…

Asharq Al Awsat
Business A "now hiring" sign is displayed on a local business after, US employment growth slowed more than expected in July, in Encinitas, California, US August 1, 2025. REUTERS/Mike Blake

US Unemployment Claims Dropped to 206,000 Last Week with Layoffs Still Sparse

Fewer people applied for US unemployment benefits last week, another sign that layoffs remain low and that most Americans enjoy job security. The Labor…

Asharq Al Awsat
Business Lebanese Central Bank headquarters in Beirut (Reuters)

IMF Welcomes Lebanon Bank Law Changes as 'Major Step' 

The International Monetary Fund has welcomed the Lebanese parliament's passing of amendments to a bank resolution law as a major step, but challenges to…

Asharq Al Awsat
Business The Saudi flag. Asharq Al-Awsat

Saudi Air Connectivity Program, Saudia Boost Operational Capacity to China and the US

Saudi Air Connectivity Program (ACP), in collaboration with Saudia, has announced an increase in seat capacity across several international routes in 2026. …

Asharq Al Awsat (Riyadh)
Business  AFP_A photo shows gold bangles and necklaces for sale at a gold shop at the Grand Baazar in Istanbul

Gold Retreats after Scaling over 2-month Peak on US Treasury Move

Gold fell on Thursday as investors booked profits after prices climbed to a more than two-month peak on a surprise US Treasury liquidity-support announcement…

Asharq Al Awsat
Business Oil platforms operated by Australian company Santos (Company website)

Oil Hits 3-week High on Middle East Supply Concerns amid War Impasse

Oil prices climbed to three-week highs on Thursday, driven by concerns that the impasse in the Iran war will continue to disrupt supply from the key Middle…

Asharq Al Awsat
Business A screen displays the total US National Debt, which surpassed $40 trillion for the first time according to the Treasury Department, in New York City, US, August 19, 2026.  REUTERS/Brendan McDermid

US National Debt Crosses $40 Trillion Threshold

The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and…

Asharq Al Awsat (Washington)

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Business Saudi engineers inspect a project in Saudi Arabia. (SPA)

Saudi Professionals Poised to Lead Major Projects in the Kingdom

Saudi Arabia is pushing ahead with plans to deepen national participation in key sectors, shifting from “numerical Saudization” to a more sustainable, skills…

Dana Aldrees (Riyadh)
Business A solar power project in northern Saudi Arabia. (SPA)

Arab Gulf Readies Infrastructure to Attract Long-Term Capital

Saudi Arabia and other Gulf countries are reshaping how they finance the next wave of infrastructure, moving beyond government spending to tap private and…

Abeer Hommadi (Riyadh)
Business European Central Bank President Christine Lagarde addresses a press conference following the ECB Governing Council meeting at the ECB headquarters in Frankfurt, Germany, July 23, 2026. (Reuters)

Europe Can’t Afford to Miss AI Revolution, Says ECB Chief

European Central Bank chief Christine Lagarde said Wednesday that the continent could not afford to miss out on the artificial intelligence revolution as the…

Business This aerial view shows a Capital Southern Transportation, Inc. truck passing over the Peace Bridge between Canada and the US in Fort Erie, Ontario, on August 18, 2026. (AFP)

Trump Pauses 50% Tariffs on Canadian Goods for Three Days

US President Donald Trump paused the planned rollout of punishing new tariffs on Canadian goods late Tuesday, as both sides indicated they were close to a…

Business An automated oil drilling rig operated by ExxonMobil in Midland, Texas, US, August 17, 2026. REUTERS/Sheila Dang

Oil Extends Climb on Prolonged Hormuz Export Uncertainty

Oil prices climbed for a fourth straight day on Wednesday as investors weighed conflicting messages from Tehran and Washington on whether the Strait of Hormuz…

Asharq Al Awsat
Business The Zubair Oil Field in Basra, Iraq, April 6, 2026. (Reuters)

Iraq Approves Three-Month Mechanism to Export Crude via Local, International Firms

Iraq's cabinet approved mechanisms for exporting Iraqi crude through specialized international and local companies and via multiple export outlets, the…

Business File photo of the Saudi flag - SPA

Aramco, Maaden Sign Joint Venture Agreement on Mineral Exploration, Hard-Rock Mining in Saudi Arabia

Aramco and Maaden announced the signing of a shareholders’ agreement to form a Joint Venture (JV) to unlock new opportunities in mineral exploration and hard…

Asharq Al Awsat
Business An employee displays a gold necklace at a jewelry store in Varanasi, India (AFP)

Gold Slips on Firmer Treasury Yields, Oil Prices; Fed Minutes in Focus

Gold fell on Tuesday, pressured by higher Treasury yields and oil prices, while traders awaited minutes of the US Federal Reserve's July policy meeting for…

Asharq Al Awsat
Business Capuava oil refinery owned by Petrobras sits in Maui, on the outskirts of Sao Paulo, Brazil, Nov. 6, 2023. (AP)

Oil Climbs as Fading US-Iran Peace Hopes Raise Supply Risks

Oil prices rose on Tuesday as prospects receded for a deal to end the Middle East war, with Iran saying it would adopt a more offensive stance and the United…

Business People cross a street past highrise buildings in Beijing, China, 17 August 2026. (EPA)

China’s Fuel Exports Edge Back Towards Levels Before Iran War as Beijing Eases Curbs

China's exports of ‌refined oil products in July fell 12.9% year-on-year but rose 6.7% from the previous month, customs data showed on Tuesday, as the…

Business (PIF)

PIF Delivers Strong Revenue and Profit Growth in 2025

The Public Investment Fund (PIF) published its 2025 Annual Report, demonstrating strong financial performance and continued progress against its long-term…

Asharq Al Awsat
Business Ministry of Education building in Riyadh (SPA)

Saudi Arabia Opens Education Sector to Private and Non-Profit Investment

Saudi Arabia is moving to reshape the public education market by creating greater scope for participation by the private and non-profit sectors under a new…

Asharq Al Awsat (Riyadh)