Business

Egypt's Net Foreign Assets Slid in October

Business A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's Net Foreign Assets Slid in October

Egypt's net foreign assets (NFAs) dropped by $1.12 billion in October after a rise in September, central bank data shows. NFAs declined to the equivalent of …

Asharq Al Awsat
Business King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

Saudi Government Calls for Private Sector Involvement to Enhance Vision 2030 Reports

The Saudi government has directed greater private sector involvement in shaping the content of Vision 2030 communications and reports, according to sources who…

Bandar al-Mosalam (Riyadh)
Business A green space in Saudi Arabia (Asharq Al-Awsat)

Al-Abdulqader to Asharq Al-Awsat: COP16 to Advocate for Strategies Against Desertification

Dr. Khalid Al-Abdulqader, CEO of Saudi Arabia’s National Center for Vegetation Cover Development and Combating Desertification, stated that the upcoming 16th…

Asharq Al Awsat (Riyadh)
Business Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024.  EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL

Putin Approves Military Focused 2025-2027 Budget

Russian President Vladimir Putin has approved a military focused budget for 2025-2027, a document published on the official legal acts website showed on Sunday…

Asharq Al Awsat
Business File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Economic and Development Affairs Council. Asharq Al-Awsat

Saudi Economic and Development Affairs Council Discusses Report on Performance of State Budget

Saudi Arabia’s Economic and Development Affairs Council has held a meeting via videoconference, discussing several issues, including the performance of the…

Asharq Al Awsat (Riyadh)

Business Taking place in Riyadh from December 3-4, the forum will convene global leaders, climate experts, senior government officials, and industry CEOs to advance discussions and action on global climate challenges. (COP16 Riyadh on X)

Saudi Arabia Reveals Agenda of 2024 Saudi Green Initiative Forum at UNCCD COP16

Saudi Arabia revealed on Saturday the program for the fourth edition of the Saudi Green Initiative (SGI) Forum. Taking place in Riyadh from December 3-4…

Business A woman and a child look at shops in a mall on Black Friday in Arlington, Virginia on November 29, 2024. (AFP)

Black Friday Data Shows US Shoppers Spent $10.8 Bln Online

US shoppers used their mobile phones, laptops, desktops and other devices to make roughly $10.8 billion in purchases online on Black Friday, an updated tally…

Business  French Minister for the Economy, Finance and Industry Antoine Armand arrives for a dinner in honor of the President of Nigeria, at the Elysee palace in Paris, on November 28, 2024. (AFP)

French Finance Minister Says Budget Can Still Be Improved

French Finance Minister Antoine Armand said on Saturday that the 2025 budget could still be improved, but stopped short of giving ground in a standoff with the…

Business The media was given a tour of the new Riyadh Metro ahead of its official opening on Sunday. (Asharq Al-Awsat)

Riyadh Metro Begins Operation on Sunday to Ease Traffic in Saudi Capital

The Riyadh Metro, the backbone of the capital’s public transport network, will begin operation on Sunday. The Riyadh Metro project is the largest in the…

Business People wait in a queue to enter the Lego store during Black Friday shopping in New York, New York, USA, 29 November 2024. (EPA)

Is Black Friday Still a Holiday Shopping Juggernaut in 2024?

After weeks of pushing early deals, retailers in the United States and some other countries tried to seduce customers with promises of bigger discounts on…

Business A view shows the Bercy Economy and Finance Ministry as a metro operated by the Paris transport network RATP passes over the Pont de Bercy bridge in Paris, France, November 28, 2024. REUTERS/Stephanie Lecocq

Inflation Rose to 2.3% in Europe. That Won't Stop the Central Bank from Cutting Interest Rates

Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as…

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 Prices Set to End Week over 3% Lower as Supply Risks Ease

Oil prices fell on Friday, heading for a weekly drop of more than 3%, as concerns over supply risks from the Israel-Hezbollah conflict eased, alleviating…

Asharq Al Awsat
Business The MoU underscores the exchange of knowledge to boost economic collaboration. SPA

Saudi Arabia, Comoros Sign MoU on Economic Cooperation

The Saudi Ministry of Economy and Planning and the Ministry of Economy, Industry and Investment of Comoros have signed a memorandum of understanding (MoU) to…

Asharq Al Awsat (Riyadh)
Business The initiative will facilitate testing Aramco’s newly-developed technologies at pilot and pre-commercial scale. Photo: Aramco

Aramco, Gulf Cryo Cooperate in Testing Lower-carbon Hydrogen

Saudi Aramco has signed an agreement with Gulf Cryo, a regional leader of end-to-end industrial gases and decarbonization solutions in the MENAT region, to…

Asharq Al Awsat (Riyadh)
Business Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi-based MAIR Group, an investment firm active in sectors including food retail and commercial real estate, said on Thursday it would list on the local…

Asharq Al Awsat
Business STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo

Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

The Spanish government has given the green light to Saudi Arabia's largest telecoms operator, STC Group, to raise its stake in Telefonica beyond 5% and reach 9…

Asharq Al Awsat
Business FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)

Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

Oil prices ticked up on Thursday after Israel and Lebanon’s Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on…

Asharq Al Awsat

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Business FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo

Türkiye Works to Halt Circulation of Fake US Dollars

Turkish authorities were checking currency exchanges and cash dispenser machines on Thursday to help avert any damage from the circulation of counterfeit US…

Asharq Al Awsat
Business Finance Minister Mohamed Al-Jadaan speaks in the first dialogue session of the 2025 Budget Forum. (Asharq Al-Awsat)

Saudi Ministers Highlight Resilience, Adaptability of the Kingdom’s Economy at Budget Forum

Saudi ministers reaffirmed the continued success of Vision 2030 and the economy’s ability to overcome challenges while achieving diversification. Speaking…

Mosaed al-Zayani (Riyadh)
Business People walk past an installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) during the COP29 United Nations climate change conference in Baku, Azerbaijan November 19, 2024. REUTERS/Maxim Shemetov

OPEC+ Postpones Output Policy Meeting to Dec 5

The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to Dec. 5 from Dec. 1 to avoid a conflict with another event,…

Asharq Al Awsat
Business Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold Steady as Inflation Data Sparks Caution over Fed Rate Outlook

Gold prices held steady on Thursday as investors assessed a wave of economic data indicating persistent US inflation, hinting that the Federal Reserve may…

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 Slips on Buildup in US Gasoline Stocks; Eyes on Weekend OPEC+ Meeting

Oil prices drifted lower on Thursday after a surprise jump in US gasoline inventories, with investors focusing on the OPEC+ meeting this weekend to discuss oil…

Asharq Al Awsat
Business Saudi King Salman viewed on Wednesday an introductory video about the Riyadh Metro. SPA

Saudi King Salman Inaugurates Riyadh Metro

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has inaugurated the Riyadh Metro, the backbone of the capital’s public transport network. …

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz Al Saud attends a closing plenary meeting the COP29 United Nations Climate Change Conference, in Baku Azerbaijan November 24, 2024. (Reuters)

Saudi Arabia, Russia, Kazakhstan Stress Importance of Maintaining Balance in Oil Markets

Saudi Arabia, Russia and Kazakhstan stressed on Wednesday the importance of maintaining stability and balance in global oil markets, highlighting the…

Business Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)

Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Arabia's tourism sector continues to achieve remarkable growth, as incoming tourist numbers surged by 27% in the first nine months of 2024 compared to a…

Business Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)

Saudi Minister of Industry: Geological Survey Authority to Play Key Role in Mining Over Next 25 Years

Saudi Arabia’s Geological Survey Authority plays a vital role in uncovering the earth’s reserves of metals such as gold, zinc, and copper. According to Saudi…

Saeed al-Abyad (Jeddah)
Business Al-Falih speaking during the 28th Annual World Investment Conference in Riyadh (Asharq Al-Awsat)

Saudi Arabia Expands Efforts to Integrate into Global Supply Chains

Saudi Arabia is intensifying its efforts to secure access to essential materials, promote local manufacturing, enhance sustainability, and strengthen its…

Asharq Al Awsat (Riyadh)
Business Al-Jadaan speaking at the press conference (Asharq Al-Awsat)

Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Saudi Finance Minister Mohammed Al-Jadaan outlined the objectives of the 2025 budget, emphasizing a continued focus on strategic spending for developmental…

Asharq Al Awsat (Riyadh)
Business A shopper walks with his purchases at Plaza Las Americas Mall near the US-Mexico border in San Ysidro, California, on November 26, 2024. (AFP)

China State Media Warn Trump against Mutually Destructive Tariff War

China's state media warned US President-elect Donald Trump his pledge to slap additional tariffs on Chinese goods over fentanyl flows could drag the world's…