Business

GCC Worker Remittances to Foreign Destinations Reach $131.5 Billion

Business The volume of workers' remittances from GCC countries is the highest globally. Asharq Al-Awsat

GCC Worker Remittances to Foreign Destinations Reach $131.5 Billion

The total remittances of workers in the Gulf Cooperation Council (GCC) countries to foreign destinations amounted to $131.5 billion by the end of 2023,…

Asharq Al Awsat (Muscat)
Business The Saudi capital Riyadh. AFP

Saudi Arabia’s Inflation Rate Holds Steady at 2% in February

The annual inflation rate in Saudi Arabia remained stable at 2% in February 2025, maintaining the same year-on-year rate as the previous year. This rate…

Asharq Al Awsat (Riyadh)
Business Local Chinese tourists walk along the the Turret of the Forbidden City of Beijing, China, Sunday, March 16, 2025. (AP Photo/Vincent Thian)

China Unveils ‘Special Action Plan’ to Boost Domestic Consumption

China's State Council unveiled on Sunday what it called a “special action plan” to boost domestic consumption, featuring measures including increasing…

Asharq Al Awsat (Beijing)
Business US Secretary of State Marco Rubio disembarks from his vehicle as he walks to board his airplane prior to departing Quebec City Jean Lesage International Airport in Quebec, Canada, Friday, March 14, 2025. (Saul Loeb, Pool Photo via AP)

Rubio Says US Could Engage in New Trade Deals after Tariffs Imposed

Once the United States has imposed tariffs on its major trading partners it could engage in bilateral talks with countries on new trade arrangements, Secretary…

Asharq Al Awsat (Washington)
Business Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024

The Saudi Ministry of Industry and Mineral Resources announced on Sunday that the number of valid mining licenses in the Kingdom has reached 2,401 by the end…


Business  France's Prime Minister Francois Bayrou visits the plant of French rolling stock manufacturer Alstom in Aytre near La Rochelle, western France, on March 14, 2025. (AFP)

French PM Opposes Calls to Go back to 62 as Retirement Age

Prime Minister Francois Bayrou on Sunday rejected the idea of reverting to 62 as the basic retirement age in France, appearing to narrow options for unions and…

Business  Treasury Secretary Scott Bessent walks out of the West Wing to do a television interview on the North Lawn of the White House on March 14, 2025 in Washington, DC. (AFP)

Bessent Says There Are ‘No Guarantees’ There Will Not Be a US Recession

There are "no guarantees" there will not be a recession in the United States, although there could be an adjustment, Treasury Secretary Scott Bessent said in…

Business A view of the port of the tiny Greek island of Kastellorizo, officially Megisti, the most southeastern inhabited Greek island in the Dodecanese. (AFP)

Greece's 2024 Central Government Surplus Exceeds Target

Greece's central government primary surplus reached 3.5% of its Gross Domestic Product (GDP) last year, well above the government's target, the outgoing…

Asharq Al Awsat
Business People buy dry fruits at a market in Karachi, Pakistan February 1, 2023. (Reuters)

IMF Makes Progress Toward Reaching Staff Agreement with Pakistan on First Review of $7 Bln Program

The International Monetary Fund (IMF) and Pakistani authorities made significant progress toward reaching a staff level agreement on the first review of an…

Business The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops. - SPA

Saudi Arabia Achieves 66% Grape Self-Sufficiency

The Saudi Ministry of Environment, Water, and Agriculture reported that Saudi Arabia's grape production surpassed 122,000 tons in 2023, reflecting the robust…

Asharq Al Awsat
Business A worker walks pasts the logo of the Central Reserve Bank of Peru (BCRP) inside its headquarters building in Lima, Peru June 16, 2017. REUTERS/Mariana Bazo/File Photo

Peru's Economy Grows 4.07% Year-on-year in January

Peru's economy grew 4.07% in the first month of 2025, data from the nation's INEI statistics agency showed on Saturday, in line with central bank and analysts'…

Asharq Al Awsat
Business Onshore wind turbines at Little Cheyne Court Wind Farm operate beside electricity pylons in Dungeness, Britain, July 10, 2024. REUTERS/Chris J. Ratcliffe/File photo

British Steel Industry Calls for Help with Electricity Prices

Britain's steel industry has called on the government to help with electricity prices that it says can be it 50% higher than those paid by European competitors…

Asharq Al Awsat
Business FILE - Greek Prime Minister Kyriakos Mitsotakis speaks in parliament ahead of the submission of a no-confidence motion by opposition parties over the government's handling of Greece's worst rail disaster two year ago, in Athens, Wednesday, March 5, 2025. (AP Photo/Thanassis Stavrakis, File)

Greek Government Debt Upgraded to Investment Grade, Closing Door on Painful Era

Greece’s center-right government on Saturday welcomed a credit rating upgrade by Moody’s, the last major ratings agency to lift junk status on government bonds…

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

S&P Global Upgrades Credit Rating of Saudi Arabia to A+ with Stable Outlook

Credit rating agency S&P Global upgraded Saudi Arabia’s local and foreign currency credit rating to A+ with a stable outlook. In its report, the agency…

Asharq Al Awsat (Riyadh)
Business A trader monitors the screen at the Saudi Exchange in Riyadh. (AFP)

Positive Outlook for Saudi Stock Market Next Week

Saudi Arabia’s Tadawul All Share Index (TASI) ended the second week of March with a slight decline for the third consecutive week, closing down 0.73% at 11,725…

Mohammed al-Mutairi (Riyadh)
Business A Saudi student is seen at the Analytical Chemistry Lab at King Abdullah University of Science and Technology. (KAUST)

Saudi Arabia Establishes Research Centers to Advance Biotech Strategy

Saudi Arabia has made significant strides in the biotechnology sector following the launch of its national strategy in early 2024, aiming to position itself as…

Ayat Nour (Riyadh)
Business European Central Bank (ECB) President Christine Lagarde looks on as she speaks to the media following the Governing Council's monthly monetary policy meeting in Frankfurt, Germany, March 6, 2025. (Reuters)

Trump’s Trade War Is ‘Wake-up Call’ for Europe, Lagarde Says 

A full-scale global trade war would hurt the United States in particular and could re-energize Europe's push towards unity, European Central Bank President…

Most Viewed

 
 

Business A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold Climbs to Record High, $3,000/oz Milestone in View

Gold reached an all-time high on Friday, driven by uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the…

Asharq Al Awsat
Business An oil tank and an oil pumpjack are pictured in the Permian basin, Loco Hills regions, New Mexico, US, April 6, 2023. (Reuters)

Oil Bounces as Ukraine Ceasefire Deal Remains Elusive 

Oil prices rebounded on Friday to recover some of their more than 1% losses in the previous session, partly due to diminishing prospects of a quick end to the…

Business A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil Dips as Economic Concerns, Supply and Demand Expectations Weigh

Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in US gasoline stocks, as markets weighed macroeconomic…

Asharq Al Awsat
Business A teller sorts US dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya February 16, 2024. REUTERS/Thomas Mukoya/File photo

Dollar General Forecasts Tepid 2025 due to Strained Consumer Spending

Dollar General on Thursday forecast annual sales and profit targets below estimates, joining a growing list of retailers that have signalled a grim year as…

Asharq Al Awsat
Business Continental Farms Ukraine, owned by Saudi firm SALIC (Asharq Al-Awsat)

Saudi-Ukraine Joint Business Council Poised for Major Trade Opportunities

Saudi Arabia and Ukraine are looking to their revived Joint Business Council, set to be reestablished this year, to unlock economic, investment, and trade…

Bandar al-Mosalam (Riyadh)
Business An employee takes granules of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo

Gold Firms as US Tariff Uncertainty, Cooler Inflation Data Lend Support

Gold prices edged up on Thursday as persisting uncertainty over tariffs drove safe-haven demand, while a cooler-than-expected US inflation print supported the…

Asharq Al Awsat
Business FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

OPEC Sticks to Global Oil Demand Forecasts, Reports Output Jump

OPEC on Wednesday kept its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption, and…

Asharq Al Awsat (Vienna)
Business Officials from Siemens Energy and Harbin Electric International during the signing of the agreements to provide technology for the two gas-fired power plants in Saudi Arabia. Photo: Siemens Energy

Siemens Energy Secures Power Plant Project in Saudi Arabia

Siemens Energy has been awarded a $1.6-billion project to provide technology for two gas-fired power plants in Saudi Arabia, the German company said on…

Asharq Al Awsat (Riyadh)
Business A technician installs solar panels atop 15 prefabricated cabins offered by an NGO to residents whose homes were destroyed in Israeli strikes during the latest war in the southern Lebanese village of Ramia near the southern border on March 5, 2025. (Photo by Mahmoud ZAYYAT / AFP)

Lebanon's Finance Minister: There Will be a New Deal with IMF

Lebanese Finance Minister Yassine Jaber said on Wednesday there would be a new deal between his country and the International Monetary Fund, according to a…

Asharq Al Awsat (Beirut)
Business Workers are seen at a Saudi Aramco facility. (SPA)

Oil Up on Weak Dollar, Tariff Concerns Cap Gains

Oil prices edged up on Wednesday, supported by a weaker dollar, but gains were capped by mounting fears of a US economic slowdown and the impact of tariffs on…

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 Production Resumes at Libya's Mabruk Field after a Decade

Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU)…

Asharq Al Awsat
Business A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold Holds Ground after Cooler US Inflation Data

Safe-haven gold held its ground on Wednesday, aided by tariff uncertainty and a cooler inflation report that keep bets for a US rate cut intact. Spot gold was…

Asharq Al Awsat