NEOM Launches TOPIAN to Create Sustainable Food Systems

Business Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)

NEOM Launches TOPIAN to Create Sustainable Food Systems

NEOM on Sunday announced the launch of Topian, the NEOM Food Company, which aims to create sustainable food systems and redefine the ways food is produced,…

Asharq Al Awsat (Neom)
Business Pumpjacks are seen in an oil field. (Reuters)

Oil Extends Gains on US Strategic Reserve Purchases

Oil prices rose on Monday, extending gains for a second session as US efforts to replenish strategic reserves provided some support, although concerns of crude…

Asharq Al Awsat
Business The regional headquarters program has so far attracted 200 foreign companies. (Asharq Al-Awsat)

Global Financial Company Northern Trust Moves its Regional Headquarters to Riyadh

Northern Trust Corp. has become one of the first major global financial institutions to establish its regional headquarters in Riyadh, which strengthens the…

Asharq Al Awsat (Riyadh)
Business Expo Dubai hosts the COP28 summit (Reuters)

COP28 Sees Calls for Balance, Realism in Dealing with Energy File

As the negotiations in COP28 entered the heated stages, discrepancy between countries regarding the position on traditional fuels increased. While Western…

Mosaed al-Zayani (Dubai) Ahmed al-Ghemrawi (Dubai)
Business A woman balances her bowl as she walks in the Old Cairo district of Cairo, Egypt, Friday, Dec. 8, 2023. (AP Photo/Amr Nabil)

Egypt's Headline Inflation Dips to 34.6% in November

Egypt's annual urban consumer price inflation dropped to 34.6% in November from 35.8% in October, pulled down by a slowdown in the rate of food price increases…

Asharq Al Awsat

Business A square in the Tunisian capital (Reuters)

Fitch Affirms Tunisia at CCC-, Expects Growth to Fall to 0.9%

Fitch Ratings on Saturday affirmed Tunisia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at "CCC-," also expecting growth to fall to 0.9% of GDP in…

Asharq Al Awsat (Tunis)
Business Saudi Arabia is seeking to increase investments and trade exchange worldwide. (Asharq Al-Awsat)

China-Saudi Investment Conference to Kick off in Beijing Next Tuesday

China will be hosting the China-Saudi Investment Conference in Beijing next Tuesday, SPA said on Saturday. The Ministry of Investment is organizing the event…

Asharq Al Awsat
Business Sultan Al Jaber, President of COP28, alongside the Singaporean Minister of Environment and the Norwegian Minister of Environment in a press conference on Friday (AP)

COP28 Nears Crucial Hours as Divergence Takes Center Stage

COP28 president Sultan Al Jaber has urged countries to get out of their comfort zones and work together to reach an agreement before the two-week United…

Ahmed al-Ghemrawi (Dubai)
Business Morocco's flag with a woman's shadow seen on it. AFP file photo

Morocco Joins International Campaign to Phase out Coal

Morocco on Friday joined an international campaign to phase out coal, as it plans to secure more than half of its energy needs from renewables in the next…

Asharq Al Awsat
Business FILE PHOTO: Chess pieces are seen in front of displayed US and EU flags in this illustration. REUTERS

EU Considers Restarting WTO Case Against US Over Steel Tariffs

The European Union is considering reopening a case at the World Trade Organization against the United States over a steel and aluminum dispute that saw the…

Asharq Al Awsat (Brussels)
Business Women buy food from a roadside stall in Colombo, Sri Lanka, Friday, Dec. 8, 2023. (AP Photo/Eranga Jayawardena)

FAO: World Food Prices Hold Steady in November

The United Nations food agency's world price index held steady in November, with lower international cereal prices offset by higher prices of vegetable oils…

Asharq Al Awsat (Rome)
Business Saudi Arabia and the Hong Kong have signed a memorandum of understanding (MoU) that aims at encouraging direct investments. SPA

Saudi Arabia, Hong Kong Sign MoU on Enhancing Direct Investments

Saudi Arabia and the Hong Kong Special Administrative Region of the People's Republic of China have signed a memorandum of understanding (MoU) that aims at…

Asharq Al Awsat
Business Al-Swaha met with the CEO of Google and Alphabet in Silicon Valley. SPA

Al-Swaha Meets with CEO of Google, Alphabet to Support Growth of Digital Economy

Saudi Minister of Communications and Information Technology (CIT) Eng. Abdullah bin Amer Al-Swaha met in Silicon Valley in California on Friday with the CEO of…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A traveller is seen with his belongings at a railway station, following the coronavirus disease (COVID-19) outbreak, in Beijing, China January 13, 2021. REUTERS/Thomas Peter/File Photo

China's Leaders Pledge to Spur Domestic Demand, Economic Recovery

China will spur domestic demand and consolidate and enhance the economic recovery in 2024, the Politburo, a top decision-making body of the ruling Communist…

Asharq Al Awsat
Business FILE PHOTO: Gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse//File Photo

Gold Heads for First Weekly Drop in Four Weeks ahead of US Jobs Data

Gold was on track for its first weekly fall in four weeks after the dollar firmed, although prices held steady on Friday as markets looked ahead to key US jobs…

Asharq Al Awsat
Business A group photo at the opening ceremony of the FII PRIORITY Summit Hong Kong (PIF)

Al-Rumayyan: PIF Analyzes Global Trends Before Investments

Yasir Al-Rumayyan, Governor of Saudi Arabia's Public Investment Fund (PIF) and Chairman of the Future Investment Initiative (FII) Institute, emphasized that…

Asharq Al Awsat (Hong Kong)
Business Saudi ministers of finance and economy attend the first dialogue session of the Budget 2024 Forum, titled “Sustainable Finance” in Riyadh (Asharq Al-Awsat)

Saudi Ministers Affirm Commitment to Economic Diversification

The Saudi Minister of Finance asserted on Thursday that since its initiation in 2016, the national transformation plan of the Kingdom, known as Vision 2030,…

Mosaed al-Zayani (Riyadh)

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Business Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi participated in a high-level ministerial session on e-commerce held on the sidelines of the UNCTAD eWeek 2023. SPA

Saudi Commerce Minister Discusses Role of Digital Economy in Shaping Global Trade Future

Saudi Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC) Dr. Majid bin Abdullah Al-Qasabi has highlighted…

Asharq Al Awsat (Geneva)
Business Expo City in the Emirate of Dubai, where the COP 28 conference is being held. (EPA)

COP28 Concludes 1st Week amid Expectations for Agreements

At the end of the first week of the COP28 conference held in Dubai, UN Climate Change Executive Secretary Simon Stiell, on Wednesday, called on the countries…

Asharq Al Awsat (Dubai )
Business This handout picture provided by the Saudi Press Agency (SPA) shows Saudi Crown Prince Mohammed bin Salman (R) walking with Russian President Vladimir Putin during a welcoming ceremony in the capital Riyadh on December 6, 2023. (Photo by SPA / AFP)

Saudi Crown Prince, Putin Urge All OPEC+ Countries to Join Output Deal

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and Russian President Vladimir Putin have commended the close cooperation between them and the…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A tanker truck used to haul oil products operates at an oil facility near Brooks, Alberta, Canada April 18, 2018. REUTERS/Todd Korol/File Photo

Oil Rebounds from 6-month-low

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low in the previous session but investors remained concerned about sluggish demand…

Asharq Al Awsat
Business The Saudi Cabinet approves the 2024 budget (SPA)

Saudi 2024 Budget: 1.172 Trillion Riyals in Revenues

The Saudi government, in a meeting chaired by King Salman bin Abdulaziz on Wednesday, approved the Kingdom’s 2024 budget. While next year’s…

Asharq Al Awsat (Riyadh)
Business A general view of Riyadh city, Saudi Arabia, February 20, 2022. REUTERS/Mohammed Benmansour

Saudi Arabia Announces Tax Breaks to Foreign Firms With New HQs

Saudi Arabia announced on Tuesday it would grant 30 years of tax relief to multinationals establishing regional headquarters. This comes less than a month…

Asharq Al Awsat
Business The Red Sea connects Africa and Asia and is a vital corridor for maritime shipping. (Photo: Reuters)

Houthi Attacks on Ships in Red Sea Threaten Global Trade

Tension escalated in the Red Sea after ships were attacked while crossing the vital path that links Europe to the Arabian Gulf and Sea, all the way to…

Asharq Al Awsat (Riyadh)
Business The cost of complete transformation will be steep and may lead to the collapse of the entire global economic system (AFP)

Saudi Arabia Rules Out Phasing Out Oil Usage

In the heat of deliberations at COP 28 in Dubai regarding the critical energy future dossier, Saudi Energy Minister Prince Abdulaziz bin Salman categorically…

Asharq Al Awsat (Dubai)
Business The contraction of the non-oil private sector in Egypt slows during November, but business confidence declines to the lowest level in 11 and a half years. (Reuters)

Egypt’s Non-Oil Private Sector Contraction Slows Down in November

The Standard & Poor’s Global Purchasing Managers’ Index showed on Tuesday that the contraction of the non-oil private sector in Egypt slowed in November, but…

Asharq Al Awsat (Cairo)
Business Manufacturers are very optimistic about the next 12 months as they expect a favorable business climate. (SPA)

Saudi Private Sector Activity Continues to Grow in November as New Orders Rise

Saudi Arabia’s non-oil private sector continued its rapid growth during November, driven by the rise of new orders to the highest level in 5 months, according…

Asharq Al Awsat (Riyadh)
Business People walk at a shopping compound in Beijing, China December 6, 2023. REUTERS/Tingshu Wang

China Blue-chip Stocks Hit 5-year Lows, Yuan Eases after Moody's Move

China's blue-chip stocks slumped to an almost five-year trough on Wednesday while the yuan currency extended losses, as markets grappled with Moody's cut to…

Asharq Al Awsat
Business Gold jewellery is seen displayed for sale at a Chow Tai Fook jewellery store in Shanghai, China November 27, 2023. REUTERS/Nicoco Chan

Gold Ticks Up as Dollar Slips

Gold prices edged higher on Wednesday as the dollar eased and weaker-than-expected US jobs data cemented expectations that the Federal Reserve's policy…

Asharq Al Awsat