Business

Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

Business A solar power project in Saudi Arabia (SPA)

Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that…

Bandar al-Mosalam
Business A view of Riyadh, Saudi Arabia. (SPA file)

Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion. The surge in sales…

Business The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between…

Business People visit a shopping center in Beijing on December 20, 2025. (AFP)

China Widens Foreign Investment Incentive List to Stem Falling Inflows

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a…

Business The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)

Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The Saudi Ministry of Environment, Water and Agriculture launched on Wednesday the Kingdom’s citrus season in local markets as part of its efforts to support…


Business SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)

SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

Global technology company, SLB, has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields, the…

Asharq Al Awsat (Riyadh)
Business  People walk past a Christmas tree at the Taikoo Li shopping center in Beijing on December 24, 2025. (AFP)

US Says China Chip Policies Unfair but Will Delay Tariffs to 2027

US trade officials determined that China should be punished for employing unfair tactics to dominate the semiconductor industry, but will wait 18 months to…

Business The aircraft departed from Boeing’s manufacturing facility in Charleston, South Carolina. (SPA)

Riyadh Air Completes First Test Flight of First Boeing Aircraft

Riyadh Air achieved a significant milestone in the delivery process of its first aircraft from Boeing with the successful completion of the initial test flight…

Business Ships move through the Suez Canal, in Ismalia, Egypt, July 31, 2025. (Reuters)

Egypt High-Speed Trains to Connect Red Sea, Mediterranean

Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the Red Sea and the Mediterranean in the…

Business Virtual tower operations center – Air Navigation Services (Asharq Al-Awsat) 

Saudi Air Navigation: Virtual Towers Boost Efficiency, Open Control and Maintenance Roles to Saudi Women

Saudi Arabia is accelerating digital transformation in aviation as virtual air traffic control towers enter live operations, marking a first for the Middle…

Saeed Al Abyad (Jeddah)
Business Investment in artificial intelligence is expected to be a source of continued momentum for the US economy in 2026. ANDREW CABALLERO-REYNOLDS / AFP/File

US Economic Growth Surges in 3rd Quarter, Highest Rate in Two Years

US economic growth in the third quarter came in at 4.3 percent on an annualized basis, easily topping expectations, according to Commerce Department data…

Asharq Al Awsat
Business  Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA

Cluster2 Company Launches Direct Flights from Muscat to Saudi Arabia's Taif

The Cluster2 Company, operator of Taif International Airport, announced the launch of three direct flights per week between Muscat and Taif via Oman Air,…

Asharq Al Awsat
Business A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer

Oil Prices Rise as US Ramps up Action against Venezuela Tankers

Oil prices rose on Monday after the US intercepted ​an oil tanker in international waters off the coast of Venezuela and tensions in Russia's war against…

Asharq Al Awsat
Business The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA

GASTAT: Construction Costs in Saudi Arabia Rose 1% in November

The Construction Cost Index in Saudi Arabia rose 1% in November 2025 compared with the same month last year, driven by equal 1% increases in both residential…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: UK gold bullion bars are stacked at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold Breaks $4,400 for 1st Time on Fed Rate-cut Bets, Silver Hits New High

Gold jumped past the $4,400-per-ounce level for the first time on Monday, riding on growing expectations of further US rate cuts and strong safe-haven demand,…

Asharq Al Awsat
Business Shoppers fill the pavement on Regent Street in central London on December 21, 2025. (AFP)

UK Growth Revised Down in Second Quarter 

Britain's economy expanded less than initially estimated in the second quarter, according to revised official data released Monday, dealing a fresh setback to…

Business Saudi Minister of Finance Mohammed Al-Jadaan. Asharq Al-Awsat

Saudi Finance Minister Says New Financial Control System Protects Public Funds

Saudi Minister of Finance Mohammed Al-Jadaan has said that the new Financial Control System constitutes a “fundamental shift” in the control methodology and…

Asharq Al Awsat (Riyadh)

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Business Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)

Trump Shook up Global Trade This Year; Some Uncertainty May Persist in 2026 

President Donald Trump's return to the White House in 2025 kicked off a frenetic year for global trade, with waves of tariffs on US trading partners that…

Business US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. (AFP)

German Auto Exports Hit Hard by Trump Tariffs, Study Shows 

German car exports to the United States slumped by almost 14% in the first three quarters of 2025, making it the hardest-hit branch of German industry in US…

Business Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)

Greece Headed for ‘Record Year’ for Tourism, Says Minister

Greece is on track for "another record year" for tourism in 2025, despite ongoing labor shortages in a key sector of its economy, Tourism Minister Olga…

Business A handout picture released by Iraq's Prime Minister's Media Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraqi Prime Minister's Media Office / AFP)

Iraq Says International Firms in Kurdistan Obliged to Transfer Crude Under Deal

Iraq’s state oil marketer SOMO said on Sunday international producers in Kurdistan were still obliged to send it their crude under a September export agreement…

Business Construction is seen at a real estate project in Riyadh. (SPA)

How 2025 Decisions Redrew the Future of Riyadh’s Real Estate Market

The Saudi capital underwent an unprecedented structural shift in its real estate market in 2025, driven by a forward-looking agenda led by Prince Mohammed bin…

Mohammed al-Mutairi (Riyadh)
Business A staff at an oilfield holds the flag of Kurdistan. (X)

Deal to Export Oil from Kurdish Region to Continue with No Issues, Kurdish Rudaw Reports

Kurdistan broadcaster Rudaw quoted the ​vice president of Iraq's state oil company SOMO as saying ‌on Saturday that ‌the ‌oil ⁠export ​deal …

Asharq Al Awsat
Business FILE PHOTO: Elon Musk attends the Breakthrough Prize awards in Los Angeles, California, U.S., April 13, 2024. REUTERS/Mario Anzuoni/File Photo

Musk Wins Appeal that Restores 2018 Tesla Pay Deal Now Worth about $139 Billion

Elon Musk's 2018 pay package from Tesla, once worth $56 billion, was restored by the Delaware ​Supreme Court on Friday, nearly two years after a lower court…

Asharq Al Awsat
Business Containers are seen on the Maersk Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain, January 20, 2023. REUTERS/Jon Nazca/File Photo P

Maersk Tests Red Sea Route as Gaza Ceasefire Offers Hope

Danish shipping company Maersk said that one of its vessels had successfully navigated the Red Sea and Bab el-Mandeb Strait for the first time in nearly two…

Asharq Al Awsat
Business The logo of Boeing is seen at the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2025. REUTERS/Benoit Tessier/Pool

Boeing Seeks FAA Emissions Waiver to Sell 35 Additional 777F Freighters

Boeing on Friday asked the Federal Aviation Administration for a waiver of airplane emissions rules to allow ​it to sell another 35 Boeing 777F freighters,…

Asharq Al Awsat
Business TOKYO, JAPAN - DECEMBER 20: Japan's Prime Minister Sanae Takaichi, Kazakhstan's President Kassym-Jomart Tokayev, Tajikistan's President Emomali Rahmon, Turkmenistan's President Serdar Berdimuhamedov,  Kyrgyzstan's President Sadyr Zhaparov, and Uzbekistan’s President Shavkat Mirziyoyev attend the leaders-level "Central Asia plus Japan" Dialogue (CA+JAD) summit, in Tokyo, Japan, on December 20, 2025.     David MAREUIL/Pool via REUTERS

Japan Sets $19 Billion Business Target in Central Asia

Japan unveiled a five-year goal on Saturday for business projects totalling $19 billion in Central Asia as Tokyo vies for influence in the resource-rich region…

Asharq Al Awsat
Business A view of traffic circulating amid dense fog in Islamabad, Pakistan, 18 December 2025. EPA/SOHAIL SHAHZAD

World Bank Approves $700 Million for Pakistan's Economic Stability

The World Bank said on Friday that it has approved $700 million in financing for Pakistan under a multi-year initiative aimed at supporting the country's…

Asharq Al Awsat
Business A view of an oil pump jack on the prairies near Claresholm, Alberta, Canada January 18, 2025. REUTERS/Todd Korol

Oil Set for Second Straight Weekly Decline on Supply Outlook

Oil prices rose on Friday but were poised for a second straight weekly decline as a potential supply glut and prospects of a Russia-Ukraine peace deal limited…

Asharq Al Awsat