Business

Biban24 Forum in Riyadh Concludes with Signing of Agreements Worth SAR35.4 Billion

Business The five-day forum attracted a large number of entrepreneurs from various countries and featured over 300 panel discussions and workshops. (SPA)

Biban24 Forum in Riyadh Concludes with Signing of Agreements Worth SAR35.4 Billion

The Biban24 Forum, organized by Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at), concluded in Riyadh on Saturday after five days with…

Business People walk past an exchange office in Cairo, Egypt, Tuesday, Nov. 5, 2024. (AP)

Egypt’s Headline Inflation Inches up to 26.5% in October

Egypt's annual urban consumer price inflation edged up to 26.5% in October from 26.4% in September, slightly below expected, data from the country's statistics…

Business A man walks outside a building in the central business district in Beijing on November 10, 2024. (AFP)

Asia, the World’s Economic Engine, Prepares for Trump Shock

Some Asian countries stand to gain if US president-elect Donald Trump pushes ahead with his promised massive tariffs on China and triggers a new wave of…

Business  Indonesian President Prabowo Subianto gestures as he delivers a speech during the Indonesia-China Business Forum in Beijing, Sunday, Nov. 10, 2024. (AP)

Indonesia’s New Leader Calls for Collaboration with China before Heading to the US

Indonesia's new leader called for collaboration rather than confrontation with China after the signing of $10 billion in new deals at a business forum on…

Business King Abdulaziz International Airport sets new daily passenger record with 161,189 travelers. (SPA)

King Abdulaziz Int'l Airport Sets New Daily Passenger Record with 161,189 Travelers

The Jeddah Airports Company has announced a new milestone for King Abdulaziz International Airport, with a record-breaking 161,189 passengers on a single day,…

Asharq Al Awsat

Business Model of natural gas pipeline and Turkey flag, July 18, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights

World Bank in Talks to Help Finance $28 bln Turkish Energy Upgrade

The World Bank is in talks with Türkiye to help finance an upgrade to the country's energy transmission system expected to cost about $28 billion, the World…

Asharq Al Awsat
Business Vendors offer desserts to pedestrians at a store in Beijing, China, 09 November, 2024. EPA/ANDRES MARTINEZ CASARES

EU Says Does Not Want Trade War with Beijing

The EU does not want a trade war with Beijing but five years of talks have yielded no real progress, the bloc's ambassador to China said on Saturday, adding…

Asharq Al Awsat
Business Designed as a young Saudi woman, SARA is depicted as a travel enthusiast deeply knowledgeable about her country. SPA

Saudi Tourism Authority Launches AI Beta Version of SARA

The Saudi Tourism Authority has launched the beta version of "SARA," an artificial intelligence (AI)-powered smart guide for Saudi tourism. SARA captivated…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold Poised for Biggest Weekly Fall in over Five Months on Dollar Strength

Gold prices dropped on Friday, poised for their steepest weekly decline in over five months, pressured by a stronger dollar and as markets absorbed the…

Asharq Al Awsat
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Prices Fall More than 1% as Hurricane Rafael Risk Recedes

Oil prices fell on Friday on receding fears over the impact of Hurricane Rafael on oil and gas infrastructure in the US Gulf while investors also weighed up…

Asharq Al Awsat
Business FILED - 24 May 2018, Türkiye, Istanbul: Turkish lira are kept fanned out. Photo: Can Merey/dpa

Türkiye's Central Bank Raises Inflation Forecasts, Vows Tight Policy

Türkiye's central bank raised its year-end inflation forecasts for this year and next to 44% and 21% respectively on Friday, and Governor Fatih Karahan vowed…

Asharq Al Awsat
Business Photo from the second edition of the Cityscape Global Exhibition in Riyadh (SPA)

Cityscape Global in Saudi Arabia to Introduce Over 100,000 Housing Units

The Cityscape Global exhibition, set to open on Monday in Riyadh, is expected to introduce more than 100,000 housing units, financing options with interest…

Asharq Al Awsat (Riyadh)
Business Visitors walk past a shop under construction with a dragon mural at the Sanlitun shopping district in Beijing, Friday, Nov. 8, 2024. (AP Photo/Ng Han Guan)

China Approves $840B Plan to Refinance Local Government Debt, Boost Economy

China on Friday approved a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt, in the latest push to rev up growth…

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

Saudi Council of Economic and Development Affairs Reviews Local, Global Economic Developments

The Saudi Council of Economic and Development Affairs has convened via video conference to review reports and agenda items, including a monthly update on local…

Asharq Al Awsat (Riyadh)
Business US Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, US, November 7, 2024. REUTERS/Annabelle Gordon

Federal Reserve Cuts Key Interest Rate by a Quarter-point

The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered…

Asharq Al Awsat
Business Bank of England Deputy Governor for Monetary Policy Clare Lombardelli, Bank of England Governor Andrew Bailey, The Bank of England's Head of Media and Stakeholder Engagement Katie Martin and Deputy Governor, Markets and Banking, Dave Ramsden hold the central bank's Monetary Policy Report press conference at the Bank of England, in London, on November 7, 2024. HENRY NICHOLLS/Pool via REUTERS

Bank of England Cuts Main Interest Rate by a Quarter-point to 4.75%

The Bank of England cut its main interest rate by a quarter of a percentage point on Thursday after inflation across the UK fell below its target rate of 2%…

Asharq Al Awsat (London)
Business Donald Trump addresses his supporters at the West Palm Beach Convention Center in Florida on Wednesday. (EPA)

After Trump’s Victory, Arab Demands for Competitive Advantages Due to Regional Tensions

With the election of Donald Trump as US president, the global economy has gained direction for the coming years. Trump’s policies favor corporate tax cuts,…

Sabri Najeh (Cairo)

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Business A container ship unloads its cargo in the German port of Hamburg (Reuters)

Euro Zone Poised to Enter Trade Quagmire as Trump Wins

As Trump 2.0 becomes a reality, Europe is poised to enter a new geopolitical and trade quagmire with its biggest trading partner. Donald Trump's victory may…

Asharq Al Awsat (Brussels)
Business FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.  REUTERS/Agustin Marcarian/File Photo

Oil Prices Rise as Investors Eye US Election Fallout

Oil prices rose on Thursday following a sell-off triggered by the US presidential election, as risks to oil supply from a Trump presidency and a hurricane…

Asharq Al Awsat
Business Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman,  (SPA)

Crown Prince to Patronize 3rd Riyadh Global Medical Biotechnology Summit on November 10-12

The Ministry of National Guard Health Affairs, in collaboration with the Ministry of Investment, is organizing the third edition of the Riyadh Global Medical…

Asharq Al Awsat
Business Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

The price of bitcoin hit a new high Wednesday and crypto-related shares rallied as investors bet that former President Donald Trump's victory in the US…

Asharq Al Awsat
Business FILED - 16 March 2023, Bavaria, Munich: Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Photo: Sven Hoppe/dpa

Gold Hastens Retreat as Dollar Rallies on Trump Victory

Gold prices slid more than 3% to a three-week low on Wednesday as investors piled into the US dollar after Republican Donald Trump was elected US president. …

Asharq Al Awsat
Business A civilian aircraft flies over the skies of the Saudi capital (Riyadh Air)

Riyadh Air Plans New Jet Order Decision in H1,2025

Saudi Riyadh Air is wading back into the jet market after buying dozens of Airbus and Boeing planes and aims to finalise a new deal involving the industry's…

Asharq Al Awsat
Business UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024.  EPA/LUKAS COCH

UAE, Australia Sign Comprehensive Economic Partnership Agreement

The United Arab Emirates and Australia have signed a Comprehensive Economic Partnership Agreement (CEPA) hat removes or reduces tariffs, lifts barriers to…

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

Aramco Maintains $31 Billion in Dividends Despite Profit Decline

Saudi Aramco retained its position as the world’s top dividend distributor, maintaining its quarterly payouts at $31.05 billion, despite a 15.4% year-over-year…

Asharq Al Awsat (Riyadh)
Business Standard & Poor’s analysts said that lower interest rates should boost Gulf non-oil economies. (Photo: Reuters)

How Will Anticipated US Interest Rate Cut Impact Gulf Economies?

The US Federal Reserve is expected to reduce interest rates again at its upcoming meeting, a decision anticipated to affect Gulf economies and their banking…

Asharq Al Awsat (Riyadh)
Business The Iraqi Council of Ministers headed by Mohammed Shia Al-Sudani (INA)

Iraq’s Government Orders Kurdistan Region to Immediately Transfer Oil Production to SOMO

The Iraqi government announced on Tuesday that it has ordered the Kurdistan region to immediately transfer its oil production to Iraq’s State Oil Marketing…

Asharq Al Awsat (Baghdad)
Business The US Embassy with a US national flag, seen behind a building with a Russian national flag in Moscow, Russia, Tuesday, Nov. 5, 2024. (AP Photo/Alexander Zemlianichenko)

Russian Rouble Dips to 100 to Dollar as Trump Declares Election Win

The Russian rouble briefly weakened to 100 against the dollar on Wednesday as Donald Trump claimed victory in the US presidential election, a result that could…

Asharq Al Awsat
Business People are seen at an employment forum in Saudi Arabia. (SPA)

Saudi Private Sector Grows to Highest Level in 6 Months

Saudi Arabia’s non-oil private sector expanded for the third consecutive month in October, driven by a surge in new orders - their highest levels since March -…

Ayat Nur (Riyadh)