Business

Microsoft Arabia: Saudi Arabia Accelerates AI Adoption, Turns It Into Competitive Edge

Business A Microsoft logo is seen a day after Microsoft Corp's $26.2 billion purchase of LinkedIn Corp, in Los Angeles, California, US, June 14, 2016. REUTERS/Lucy Nicholson

Microsoft Arabia: Saudi Arabia Accelerates AI Adoption, Turns It Into Competitive Edge

Saudi Arabia has cemented its global standing in artificial intelligence after pouring significant investments into the sector in 2025, accelerating digital…

Abir Hamdi (Riyadh)
Business Lockheed Martin took part in the recent World Defense Show in Riyadh. (Asharq Al-Awsat)

Lockheed Martin: Saudi Arabia Is Strategic Choice for Global Defense Hub

Saudi Arabia’s push to localize half of its defense spending under Vision 2030 is drawing deeper commitments from US defense giant Lockheed Martin, which says…

Mosaed al-Zayani (Riyadh)
Business A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry…

Asharq Al Awsat
Business udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in…

Asharq Al Awsat
Business (FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the…

Asharq Al Awsat (New York)

Business The launch of the Namaa Endowment Fund (Asharq Al-Awsat)

Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

Saudi Arabia has launched its first endowment fund dedicated to advancing environmental, water and agricultural sustainability, reinforcing efforts to…

Asharq Al Awsat (Riyadh)
Business Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)

Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Saudi Arabia’s Ministry of Tourism has raised the readiness of Makkah’s hospitality sector to its highest level ahead of the holy month of Ramadan, stressing…

Asharq Al Awsat (Makkah)
Business FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo

ECB President Lagarde Reportedly Plans to Quit Before Macron's Term Ends

European Central Bank President Christine Lagarde plans to leave her job before next year's French presidential election to allow Emmanuel Macron to have an…

Asharq Al Awsat
Business Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)

UK Inflation Falls to 3.0% in January

Britain's annual ‌rate of consumer price inflation fell to 3.0% in January from 3.4% in December, official figures showed on Wednesday. A Reuters poll…

Asharq Al Awsat (London)
Business The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)

Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The Saudi Aviation Club announced that it will organize the AERO Middle East x Sand & Fun 2026 in Riyadh from November 24 to 28, reported the Saudi Press…

Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)

Saudi Arabia, Kazakhstan Agree to Establish Coordination Council

Saudi Arabia and Kazakhstan agreed to establish a Saudi-Kazakh Coordination Council, reported the Saudi Press Agency on Tuesday. Saudi Minister of Energy…

Business The MoU was signed by Mawani President Eng. Suliman Almazroua and CEO of Qatar Ports Management Company Captain Abdullah Mohammed Al-Khanji. (QNA)

Saudi-Qatari Partnership Paves Way for Logistics Corridors to Boost Regional Trade Efficiency 

The Saudi Ports Authority (Mawani) and Qatar Ports Management Company signed on Tuesday a memorandum of understanding (MoU) aimed at boosting maritime and…

Asharq Al Awsat (Riyadh)
Business The Makkah Halal Forum 2026 was held from February 14 to 16. (SPA)

Golden Halal Logo Launched at Makkah Halal Forum  

The Makkah Halal Forum 2026, which concluded on Monday, marked a pivotal milestone in the development of Saudi Arabia's halal industry, ushering in a new phase…

Business Nissan Chief Executive Ivan Espinosa. (Asharq Al-Awsat)

Nissan CEO to Asharq Al-Awsat: Saudi Arabia Is ‘Golden Jewel’ Driving Regional Growth 

Nissan Chief Executive Ivan Espinosa has singled out Saudi Arabia as a cornerstone of the automaker’s global ambitions, calling the kingdom and the wider…

Mosaed al-Zayani (Jeddah)
Business Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)

Dammam Airport Launches Saudi Arabia’s First Category III Automatic Landing System  

Prince Saud bin Naif bin Abdulaziz, Governor of Saudi Arabia’s Eastern Region, inaugurated on Monday two major aviation projects at King Fahd International…

Asharq Al Awsat (Dammam)
Business The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 

Saudi Arabia to Launch Real Estate Indicators, Expand ‘Market Balance’ Program Nationwide

Saudi Arabia will roll out real estate market indicators in the first quarter of this year and expand the Real Estate Market Balance program to all regions of…

Bandar al-Mosalam
Business Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 

China's Russian Oil Imports to Hit New Record in February as India Cuts Back

China's Russian oil imports are set to climb for a third straight month to a new record high in February as independent refiners snapped up deeply discounted…

Asharq Al Awsat

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Business The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)

Greece… Chevron’s Gateway to Strengthening Europe’s Energy Security

A consortium led by US oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States'…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and officials are seen at the inauguration of one of the facilities. (SPA)

Saudi Industry Minister Inaugurates Advanced Factories in Sudair 

Saudi Minister of Industry and Mineral Resources and Saudi Authority for Industrial Cities and Technology Zones (MODON) Board Chair Bandar Alkhorayef…

Business The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat (File Photo/AFP)

Morocco's Cereals Harvest Expected to Double after Wet Winter

Moroccan grains traders and millers expect Morocco to double its cereals harvest this season after abundant winter rains, with limited impact from floods in…

Business A supermarket in Saudi Arabia (SPA) 

Saudi Arabia Records Slowest Inflation Since February 2025

Saudi Arabia’s annual inflation eased noticeably in January, rising 1.8 percent year on year, the slowest pace since February last year, signaling positive…

Asharq Al Awsat (Riyadh)
Business Saudi flags seen in Riyadh (SPA)

Saudi Arabia Elected President of Arab Housing and Reconstruction Council Executive Office

The Council of Arab Ministers of Housing and Reconstruction announced Saudi Arabia’s election as President of the Executive Office of the council for the 2026…

Asharq Al Awsat (Doha)
Business Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo

Oil Steady as Traders Brace for US–Iran Nuclear Talks

Oil traded little changed on Monday, with investors weighing the market implications of upcoming US-Iran talks aimed at de-escalating tensions against a…

Asharq Al Awsat
Business The agreement comes as part of SABIC’s support for national downstream industries. Asharq Al-Awsat

SABIC Signs Agreement to Supply Raw Materials for Tire Manufacturing in Saudi Arabia

The Saudi Basic Industries Corporation (SABIC) signed an agreement with the joint venture between the Public Investment Fund (PIF) and Pirelli to supply raw…

Asharq Al Awsat (Riyadh)
Business Mohamed Farid, Minister of Investment and Foreign Trade, at the “Disruptech Sharm 2026 – Fintech and Beyond” conference. (Egyptian Ministry of Investment).

Egypt’s Investment Ministry Says Next Phase Demands Shift Beyond Fintech

Egypt’s Minister of Investment and Foreign Trade Mohamed Farid said the next phase of the country’s investment climate requires moving beyond traditional…

Asharq Al Awsat (Cairo)
Business Safran Group logo is seen in this illustration taken July 26, 2025. REUTERS/Dado Ruvic/Illustration

Safran to Open Landing Gear Plant in Morocco

Safran Landing Systems, a subsidiary of French aerospace group Safran, signed a deal with Morocco to set up a landing gear factory near Casablanca worth 280…

Asharq Al Awsat
Business Visitors walk past illuminated lantern displays ahead of Lunar New Year in Beijing, China, Wednesday, Feb. 11, 2026. (AP Photo/Vincent Thian)

China to Scrap Tariffs for Most of Africa from May

Beijing's scrapping of tariffs for all but one African country will start May 1, Chinese President Xi Jinping said Saturday, according to state media. …

Asharq Al Awsat