Business

Oil Prices Rise 1% as Supply Risks Remain in Focus

Business The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian

Oil Prices Rise 1% as Supply Risks Remain in Focus

Oil prices rose over 1% on Friday as supply risks remained in focus despite the receding likelihood of a US military strike against Iran. Brent crude was…

Asharq Al Awsat
Business FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo

Gold Eases as Strong US Data, Easing Geopolitical Tensions Sap Momentum

Gold prices ticked lower on Friday, extending losses from the previous session, as stronger-than-expected US economic data and easing geopolitical tensions in…

Asharq Al Awsat
Business International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during an interview with Reuters, amid Russia's attack on Ukraine, in Kyiv, Ukraine January 15, 2026. REUTERS/Valentyn Ogirenko

IMF's Growth Forecasts to Show Resilience to Global Trade Shocks, Georgieva Says

The International Monetary Fund's latest economic forecasts due next week will show the global economy's continued resilience to trade shocks and "fairly…

Asharq Al Awsat
Business Mauritania’s Minister of Mines and Industry, Thiam Tijani (Asharq Al-Awsat) 

Mauritania to Saudi Investors: We Are Your Atlantic Gateway to Securing Minerals of the Future

Mauritania is positioning its mining weight and strategic Atlantic Ocean location as an “African mining gateway” for Saudi investments, extending a clear…

Fatehelrahman Yousif (Riyadh)
Business File photo: Chinese and US flags flutter near The Bund, before US trade delegation meet their Chinese counterparts for talks in Shanghai, China, July 30, 2019. (Reuters)

China Says 'Resolutely Opposes' US-Taiwan Trade Deal

China said Friday it "resolutely opposes" a deal signed by Washington and Taipei to reduce tariffs on Taiwanese products and increase the self-ruled island's…

Asharq Al Awsat

Business The International Mining Conference in Riyadh. (Asharq Al-Awsat)

Critical Minerals as Strategic Assets...Saudi Arabia Leads Major Transformation of Global Value Chains

At a time when geopolitical and economic changes are accelerating, and global competition for critical minerals are intensifying, supply chains are undergoing…

Zeinab Ali (Riyadh)
Business The Iranian flag and 3D printed oil barrels miniature are seen in this illustration taken June 23, 2025. (Reuters)

Oil Drops as Trump Calms Iran Fears; Tech Stocks Slide in Asia

Oil prices retreated from multi-month highs on Thursday and gold eased from a record peak after US President Donald Trump calmed market anxiety over potential…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef delivers the opening address at the Future Minerals Forum in Riyadh (Asharq Al-Awsat)

Saudi Arabia Expands Int’l Partnerships with Three Countries to Develop Metals Industry

Saudi Arabia has expanded its network of international partnerships after the Ministry of Industry and Mineral Resources signed three memorandums of…

Asharq Al Awsat (Riyadh)
Business A Palestinian employee inspects sweet locally known as "al-Shatwi" (Winter) Crimbo sweets, as the Al-Arees factory gradually resumes operations after a hiatus caused by the Gaza war which led to shortages of raw materials used in their products, in Deir al-Balah, in the central Gaza Strip on January 12, 2026, following a US-brokered truce that halted the two-year war. (AFP)

Global Unemployment ‘Stable’ in 2026, but Decent Jobs Lacking

The global unemployment rate is expected to hold steady in 2026, the United Nations said Wednesday, but cautioned the labor market's seeming stability belies a…

Business Women dressed in traditional Chinese-style attire cross a street in Beijing, China, Tuesday, Jan. 13, 2026. (AP)

China Had a Record $1.2 Trillion Trade Surplus in 2025, as Exports Rose 6.6% in December

China’s trade surplus surged to a record of almost $1.2 trillion in 2025, the government said Wednesday, as exports to other countries made up for slowing…

Business The MoUs were signed on the sidelines of the Ministerial Roundtable of ministers concerned with mining affairs, held as part of the fifth annual Future Minerals Forum (FMF) in Riyadh. (SPA)

Saudi Arabia Signs Mineral Cooperation Deals with Chile, Canada, Brazil

Saudi Arabia, represented by the Ministry of Industry and Mineral Resources, signed on Tuesday three international memoranda of understanding (MoUs) on mineral…

Business The Iranian flag and 3D printed oil barrels miniature are seen in this illustration taken June 23, 2025. (Reuters)

Iran's Partners in Crisis after Trump Announces New Tariffs

US President Donald Trump on Monday said any country that does business with Iran will face a tariff rate of 25% on any trade with the US as Washington weighs…

Asharq Al Awsat (London)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at a press conference in response to a question from Asharq Al-Awsat. (Asharq Al-Awsat)

Alkhorayef to Asharq Al-Awsat: Saudi Efforts Drive Mining Investment

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said on Tuesday the Kingdom is intensifying its efforts, through the Future Minerals Forum…

Asharq Al Awsat (Riyadh)
Business Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions. (Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef on X)

Saudi Arabia Urges Collective Action to Boost Mineral Supplies, Future Jobs

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Riyadh has emerged as the “global capital of mining” by hosting the fifth…

Asharq Al Awsat (Riyadh)
Business This photograph shows a sign of the World Economic Forum (WEF) at the Congress center, during the WEF annual meeting in Davos on January 20, 2025. (AFP)

Trump Set to Lead Largest-Ever US Delegation to World Economic Forum in Davos Next Week

US President Donald Trump will return to the World Economic Forum's annual meeting of business, political and cultural elites in Davos, Switzerland next week,…

Business A woman places coins inside a red wallet in Germany. (dpa)

World Bank: Global Economy Shows Resilience Amid Historic Trade, Policy Uncertainty

The global economy is proving more resilient than anticipated despite persistent trade tensions and policy uncertainty, according to the World Bank’s latest…

Asharq Al Awsat (Washington)
Business The Saudi and Chinese delegations meet in Riyadh on Tuesday. (SPA)

Saudi Industry Minister Discusses Automotive Manufacturing Cooperation with China's BYD

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held talks in Riyadh on Tuesday with Chinese company BYD Founder and Chairman Wang Chuanfu…

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Business People attend the fourth edition of the International Mining Conference in Riyadh. (SPA)

International Mining Conference Opens in Riyadh on Tuesday 

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the fifth edition of the International Mining Conference will open…

Asharq Al Awsat (Riyadh)
Business The Mahd Ad Dhahab mine operated by Maaden (SPA). 

Saudi Arabia’s Maaden Adds 7.8 Million Ounces of Gold to Its Resources

The Saudi Arabian Mining Company (Maaden) has recorded a major milestone in its drive toward global leadership, announcing the addition of 7.8 million ounces…

Asharq Al Awsat (Riyadh)
Business The project, called Trump Plaza Jeddah, will include executive and premium residences, home offices, retail outlets and curated dining offerings. (Asharq Al-Awsat) 

Dar Global and Trump Organization Launch $1 Billion Project in Jeddah

Dar Global and the Trump Organization announced on Monday the official launch of Trump Plaza Jeddah, valued at over $1 billion. Dar Global, a London-listed…

Asharq Al Awsat (Jeddah)
Business FILE PHOTO: A map showing the Strait of Hormuz and Iran is seen behind a 3D printed oil pipeline in this illustration taken June 22, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Oil Extends Climb on Iran Supply Disruption Concerns

Oil prices extended gains on Tuesday as heightened concerns surrounding Iran and potential supply disruptions outweighed the prospect of increased crude supply…

Asharq Al Awsat
Business  People wave Morocco's flag in the old town of Rabat, on January 9, 2026 prior the Africa Cup of Nations (CAN) quarter-final football match Morocco v Cameroon. (AFP)

Morocco Targets $10 Billion AI Contribution to GDP by 2030

Morocco is targeting a 100 billion dirhams ($10 billion) boost to its gross domestic product from artificial intelligence by 2030, the minister in charge of…

Business Riyadh, Saudi Arabia (Reuters) 

Saudi Arabia Consolidates Its Position Among the World’s Top 20 Economies in 2026

As the global financial landscape is reshaped by accelerating geopolitical shifts, economic data show that Saudi Arabia has firmly consolidated its place among…

Asharq Al Awsat (Riyadh)
Business A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)

Saudi Industrial Production Index Records Highest Growth Since Early 2023

Saudi Arabia’s Industrial Production Index posted a year-on-year increase of 10.4 percent in November 2025, compared with the same month a year earlier,…

Asharq Al Awsat (Riyadh)
Business German Chancellor Friedrich Merz, left, shakes hands with Indian Prime Minister Narendra Modi following a joint statement to the media in Gandhinagar, India, Monday, Jan. 12, 2026. (AP)

India and Germany Sign Deals to Deepen Economic and Security Ties

Indian Prime Minister Narendra Modi and German Chancellor Friedrich Merz met on Monday in western Gujarat state to push for deeper economic and security ties…

Business Japan's deep-sea drilling vessel, Chikyu is anchored at a pier in Shimizu port, Shizuoka prefecture on September 11, 2013. TOSHIFUMI KITAMURA / AFP/File

Japan Aims to Dig Deep-sea Rare Earths to Reduce China Dependence

A Japanese research vessel on Monday began a historic voyage to attempt to dig deep-sea rare earths at a depth of 6,000 meters to curb dependence on China. …

Asharq Al Awsat
Business FILE - An employee of Pro Aurum gold house lifts 1 Kg silver bars of 999.9 purity besides 1 Kg gold bars in the safe deposit boxes room in Munich, Germany, Friday, April 25, 2025. (AP Photo/Matthias Schrader, File)

Gold, Silver Hit Records After US Probe Targets Fed

Gold and silver surged to record highs after the US Justice Department targeted the Federal Reserve in an investigation, fueling fears over the bank's…

Asharq Al Awsat
Business The Saudi Space Agency signed a memorandum of cooperation with the Japanese government on the peaceful use of outer space. (SPA)

Saudi Arabia, Japan Sign Memorandum on Peaceful Use of Space

The Saudi Space Agency signed a memorandum of cooperation with the Japanese government on the peaceful use of outer space on the sidelines of the Saudi-Japan…

Asharq Al Awsat
Business The Saudi-Canadian Business and Investment Forum was held on Sunday. (SPA)

Saudi-Canadian Business Forum Explores Opportunities to Strengthen Investment

The Saudi-Canadian Business and Investment Forum was held on Sunday in Riyadh under the “Invest Saudi” umbrella, with the participation of Minister of…

Asharq Al Awsat