Business

Dammam Airport Launches Saudi Arabia’s First Category III Automatic Landing System  

Business Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)

Dammam Airport Launches Saudi Arabia’s First Category III Automatic Landing System  

Prince Saud bin Naif bin Abdulaziz, Governor of Saudi Arabia’s Eastern Region, inaugurated on Monday two major aviation projects at King Fahd International…

Asharq Al Awsat (Dammam)
Business The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 

Saudi Arabia to Launch Real Estate Indicators, Expand ‘Market Balance’ Program Nationwide

Saudi Arabia will roll out real estate market indicators in the first quarter of this year and expand the Real Estate Market Balance program to all regions of…

Bandar al-Mosalam
Business Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 

China's Russian Oil Imports to Hit New Record in February as India Cuts Back

China's Russian oil imports are set to climb for a third straight month to a new record high in February as independent refiners snapped up deeply discounted…

Asharq Al Awsat
Business The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)

Greece… Chevron’s Gateway to Strengthening Europe’s Energy Security

A consortium led by US oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States'…

Asharq Al Awsat

Business The financial district of the City of London (Reuters)

UK Economy Barely Grew in Q4 as Budget Uncertainty Weighed

Britain's economy barely grew in the final quarter of 2025 as activity fared worse than initially estimated during the run-up to finance minister Rachel Reeves…

Asharq Al Awsat (London)
Business FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold Eases as Strong US Jobs Data Tempers Fed Rate‑cut Expectations

Gold prices ticked lower on Thursday, after unexpectedly strong US jobs data for January dented hopes for more interest rate cuts from the Federal Reserve in…

Asharq Al Awsat
Business An employee at the Riyadh Infrastructure Projects Center (SPA)

Riyadh Implements More Than 8,000 Infrastructure Projects

The Riyadh Infrastructure Projects Center said it coordinated and delivered more than 8,000 infrastructure projects across the Saudi capital in 2025 under a…

Asharq Al Awsat (Riyadh)
Business A man walks past oil pumps in the oil-rich city of Rmelan in Syria (Reuters)

Syria Opens its Energy Sector to Global Oil Majors

Syria is moving swiftly to reclaim its role as a regional energy player, as the head of the Syrian Petroleum Company, Youssef Qiblawi, outlined ambitious plans…

Asharq Al Awsat (Damascus)
Business FILE PHOTO: A logo of French oil and gas company TotalEnergies is seen on the eve of the opening of the 2025 Paris International Agriculture Fair (Salon International de l'Agriculture) at the Porte de Versailles exhibition center in Paris, France, February 21, 2025. REUTERS/Sarah Meyssonnier/File Photo

TotalEnergies Tells Trump ‘Too Expensive’ to Reinvest in Venezuela

The CEO of French oil major TotalEnergies said it was “too expensive and too polluting” to return to Venezuela, despite calls from US President Donald Trump…

Asharq Al Awsat
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/File Photo 

OPEC Forecasts World Demand for OPEC+ Crude Dropping in Q2

The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday forecast world oil demand for crude from the wider OPEC+ producer group will drop by…

Asharq Al Awsat (London)
Business Saudi Aramco Achieves 70% Local Content Target through iktva Program

Saudi Aramco Achieves 70% Local Content Target through iktva Program

Saudi Aramco announced on Wednesday that its supply chain transformation program, iktva (In-Kingdom Total Value Add), has achieved its target of reaching 70%…

Business FILE PHOTO: Planes from AirAsia are seen on the tarmac of Kuala Lumpur International Airport Terminal 2 (KLIA2) in Sepang, Malaysia, February 26, 2024. REUTERS/Hasnoor Hussain/File Photo

AirAsia X Unveils Kuala Lumpur-Bahrain-London Route

Malaysian budget carrier AirAsia X on Wednesday unveiled plans to resume flights from Kuala Lumpur to London via a new hub in Bahrain, using the extended range…

Asharq Al Awsat
Business (FILES) European Commission President Ursula von der Leyen delivers a speech in Brussels, on January 22, 2026. (Photo by NICOLAS TUCAT / AFP)

Von der Leyen: EU Must 'Tear Down Barriers' to Become 'Global Giant'

The EU must "tear down the barriers" that prevent it from becoming a truly global economic giant, European Commission chief Ursula von der Leyen said Wednesday…

Asharq Al Awsat
Business A Saco branch in Riyadh. Asharq Al-Awsat

Saco: Saudi Retail Market Remains Promising, Digital Transformation Key to Expanding Market Share

Saudi Arabia’s retail sector is undergoing deep structural changes driven by the rapid global expansion of e-commerce, prompting local companies to reassess…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a building in Rueil-Malmaison, near Paris, France, April 14, 2025. REUTERS/Stephanie Lecocq/File Photo

TotalEnergies Posts 17% Drop in Net Profit to $13.1 Bn

French energy giant TotalEnergies said Wednesday that its net profit fell 17 percent last year, reflecting declines in oil prices even as it increased…

Asharq Al Awsat
Business The signing of the agreements took place during the “Egypt Sustainable Energy Outlook 2040” conference co-hosted by the EU and the Egyptian government in Cairo. Photo: Egyptian government

EU Makes 150-Million-Dollar Grant to Egypt’s Energy Sector

Egypt and the European Union (EU) have signed a grant agreement worth €90 million ($107.2 million) that will be managed by the European Investment Bank (EIB)…

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

Saudi Industrial Production Ends 2025 with Strong 8.9% Growth

Saudi Arabia’s industrial sector posted an exceptional performance at the end of 2025, with the Industrial Production Index recording annual growth of 8.9…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Vehicles drive past a BP (British Petroleum) petrol station in Liverpool, Britain, February 7, 2023. REUTERS/Phil Noble/File Photo

BP Announces 86% Drop in Annual Net Profit, Shocks Shareholders by Suspending Buybacks Program

British oil giant BP announced Tuesday a sharp 86% drop in annual net profit and a surprise decision to suspend the entire share buyback program to save cash…

Asharq Al Awsat (London)
Business Group photo of participants at the Conference for Emerging Market Economies held in AlUla. X

‘AlUla Manifesto’ Ends Era of ‘Economic Dependency’

A joint statement issued by Mohammed Aljadaan, the Saudi Minister of Finance, and International Monetary Fund (IMF) Managing Director Dr. Kristalina Georgieva…

Hala Saghbini (AlUla)
Business Raid Ismail, head of direct investments for the Middle East and North Africa at the Public Investment Fund, speaks during a session (X)

PIF Forum Yields $16 Bn in MoUs

Saudi Arabia’s Public Investment Fund (PIF) closed the fourth edition of its Private Sector Forum with a slate of deals that underscored its growing pull with…

Asharq Al Awsat (Riyadh)
Business Jadidat Arar border crossing, the logistics gateway between Saudi Arabia and Iraq (SPA)

Iraq Seeks Saudi Firm List to Streamline Iraqi Exports

The Iraqi government is moving to tighten the framework for exporting its goods to Saudi Arabia by compiling a list of Saudi companies interested in importing…

Bandar al-Mosalam (Riyadh)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and other officials during the meeting. (SPA)

Saudi Industry Minister Explores Localization Opportunities with Airbus Helicopters

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held talks Airbus Helicopters CEO Bruno Even on the sidelines of the World Defense Show 2026…

Business US Secretary of the Treasury Scott Bessent, left, shakes hands with Chinese Vice Premier He Lifeng, right, during a bilateral meeting between the United States and China, in Geneva, Switzerland, on Saturday, May 10, 2025. (KEYSTONE/EDA/Martial Trezzini) /Handout via Reuters

Bessent Says US, China Could Have Very Productive Relationship

US Treasury Secretary Scott Bessent said on Tuesday that the US relationship with China could be very productive and welcomed Beijing as a rival. "The US…

Business The second AlUla Conference for Emerging Market Economies was held in AlUla on February 8–9 - SPA

AlUla Conference for Emerging Market Economies Highlights Policies to Strengthen Resilience, Support Growth

At the conclusion of the second AlUla Conference for Emerging Market Economies, held in AlUla on February 8–9 and co-organized by the Saudi Ministry of Finance…

Asharq Al Awsat
Business The MoU enhances collaboration among the three parties in export support, financing, and insurance - SPA

Saudi EXIM Bank Signs Trilateral MoU with Poland’s BGK and KUKE

Saudi Export-Import Bank (Saudi EXIM Bank) has signed a memorandum of understanding with two Polish financial institutions, Bank Gospodarstwa Krajowego (BGK)…

Asharq Al Awsat
Business A pumpjack, used to help lift oil from a well, in the Permian basin near Midland, Texas, US, October 8, 2025. REUTERS/Arathy Somasekhar/File Photo

Oil Gains as Traders Weigh Supply Risks Linked to US–Iran Tensions

Oil prices edged up on Tuesday as traders gauged the potential for supply disruptions after US guidance for vessels transiting the Strait of Hormuz kept…

Asharq Al Awsat
Business Saudi Arabia’s Minister of Finance addresses attendees at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat). 

AlUla Conference Urges Emerging Economies to Act Decisively, Define Their Own Growth Models

The AlUla Conference for Emerging Market Economies concluded with a clear call for emerging nations to move beyond imitation and take ownership of their…

Hala Saghbini (AlUla)