Business

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

Business The agreements were signed during the "Industrial Transformation Saudi Arabia 2025” Exhibition. SPA

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

The Ministry of Industry and Mineral Resources has signed a number of memoranda of understanding (MoUs) with leading local and international companies to…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010. REUTERS/Stringer/File Photo

China Says Working on Streamlining Rare Earth Export Licenses

China said on Thursday it is working on streamlining rare earth export licenses - a key promised outcome after a meeting between US President Donald Trump and…

Asharq Al Awsat
Business The resources at Jafurah are now estimated at 229 trillion standard cu ft of gas and 75 billion barrels of condensates. (Saudi Aramco)

Saudi Aramco's Jafurah Gas Plant Begins Output with 450 Million Cubic Feet Per Day

The first phase of oil giant Aramco's Jafurah gas plant is complete and production has begun with a capacity of 450 million cubic feet per day, the Saudi…

Asharq Al Awsat
Business Saudi Finance Minister Mohammed al-Jadaan and Economy Minister Faisal Alibrahim attend the Saudi Budget Forum (Saudi 2026 Budget Forum)

Saudi Budget Forum Reveals Govt. Spending Now Independent of ‘Oil Cycle’

Saudi Arabia’s 2026 budget forum, held a day after the Cabinet approved the new fiscal plan under the chairmanship of Crown Prince and Prime Minister Mohammed…

Abir Hamdi (Riyadh)
Business The Saudi capital Riyadh. Reuters file photo

Saudi Non-oil Business Activity Expands in November

Saudi Arabia's non-oil private sector business activity expanded at its fastest rate in 10 months in November, driven by robust demand and increased hiring,…

Asharq Al Awsat

Business FILE PHOTO: UK gold bullion bars and coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold Climbs to Six-week High Driven by Risk-off Sentiment

Gold prices steadied after hitting a six-week high on Monday as risk-off sentiment set the tone, with investors focused on a potential US rate cut later this…

Asharq Al Awsat
Business Vendors sell roasted chestnuts near the New Mosque in a rainy day in Istanbul, Türkiye, Sunday, Nov. 30, 2025. (AP)

Türkiye Economy Grew Less Than Expected at 3.7% in Q3

Türkiye’s economy grew by 3.7% annually in the third quarter, official data showed on Monday, falling short of expectations as agricultural activity tumbled,…

Business Oil prices jumped after OPEC+ said it would pause hiking output in the first quarter of next year. JOE KLAMAR / AFP

Asian Markets Mixed as Traders Eye US Data ahead of Fed Decision

Asian equities were mixed Monday with investors awaiting the release of key US data that could play a role in Federal Reserve deliberations ahead of an…

Asharq Al Awsat
Business FILE PHOTO: A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. REUTERS/Essam Al-Sudani/File Photo

Operations Restart at Iraq's Khor Mor Field, Transporting Gas to Power Stations

Operations restarted at Iraq's Khor Mor gas field, with the transmission of gas to power stations starting at 2:00 a.m. Sunday (2300 GMT Saturday), the Kurdish…

Asharq Al Awsat
Business OPEC+ Holds 2026 Group-wide Oil Output Steady, Agrees Capacity Mechanism

OPEC+ Holds 2026 Group-wide Oil Output Steady, Agrees Capacity Mechanism

OPEC+ countries agreed to maintain group-wide oil output quotas for 2026 in a meeting on Sunday, and also agreed on a mechanism to assess members' maximum oil…

Asharq Al Awsat
Business KAUST and Arabian Petroleum Supply Company Partner to Advance Sustainable Aviation Fuel Adoption

KAUST and Arabian Petroleum Supply Company Partner to Advance Sustainable Aviation Fuel Adoption

King Abdullah University of Science and Technology (KAUST) has signed a new material transfer agreement (MTA) with the Arabian Petroleum Supply Company (Apsco)…

Asharq Al Awsat
Business The Saudi capital, Riyadh (SPA)

Saudi Arabia Excels in the WIPO Pulse Report 2025

Saudi Arabia achieved a new international milestone by ranking among the top performers in the Global intellectual property perception survey 2025 (WIPO Pulse)…

Asharq Al Awsat
Business A handout picture released by the BBC, taken and received on November 30, 2025, shows Britain's Chancellor of the Exchequer Rachel Reeves appearing on the BBC's 'Sunday Morning' political television show with journalist Laura Kuenssberg. (Photo by JEFF OVERS / BBC / AFP)

UK's Reeves Says Did Not Mislead Public on the Budget

British finance minister Rachel Reeves on Sunday denied she misled the public over official forecasts ahead of this month's budget, saying she had been honest…

Asharq Al Awsat (London)
Business FILE PHOTO: Workers build Zeekr 009 electric minivans at Zeekr's factory in Ningbo, China, April 20, 2025. REUTERS/Nick Carey/File Photo

China's Factory Activity Shrinks Again in November, Services Cool

China's factory activity shrank for an eighth month in November while services cooled, highlighting the dilemma facing policymakers over whether to press ahead…

Asharq Al Awsat
Business Tokyo governor Yuriko Koike attends Future Investment Initiative in Riyadh (Asharq Al-Awsat)

Tokyo Governor Says ‘Dragon Ball’ Project Deepens Cultural, Investment Ties with Riyadh

Saudi Arabia and Japan no longer see their ties confined to traditional oil deals or car imports. The relationship has evolved into a cross continental…

Abir Hamdi (Tokyo)
Business Haneda Airport’s Terminal 2 is crowded with travellers due to flight cancellations, in Tokyo, Japan, 29 November 2025. (EPA/Jiji Press)

Global Airlines Race to Fix Jets as Airbus Apologizes Following A320 Recall

Global airlines scrambled to fix a software glitch on Airbus A320 jets on Saturday as a partial recall by the European planemaker halted hundreds of flights in…

Business  The Khor Mor gas field after a rocket attack near Chamchamal, in Sulaymaniyah province, Iraq, November 27, 2025. (Reuters)

Gas Exports from Iraq’s Khor Mor Field Resume Days After Drone Attack

Gas exports from Iraq's Khor Mor field, one of the largest in the Kurdistan region, resumed on Saturday after a drone attack on Wednesday that shut down…

Business Shoppers browse stores at the Dolphin Mall during Black Friday in Miami, Florida, USA, 28 November 2025. (EPA)

Black Friday Consumers Go Online, Rather Than Stand in Line

Bargain-hunting Americans clicked their way through Thanksgiving, spending $8.6 billion online so far on Black Friday, as more consumers turned to laptops and…

Business General view of old Muscat. Reuters

Oman, Botswana Sign Agreement to Develop 3 GW of Renewable Energy Projects

Oman and Botswana signed on Saturday an agreement to develop solar, wind and battery storage projects with a production capacity of 3 gigawatts, Oman's state…

Asharq Al Awsat
Business Saudi Arabia received 142 votes from member states during the elections held in London. (SPA)

Saudi Arabia Wins Membership in IMO Council for 2026-2027 Term

Saudi Arabia has won membership in the International Maritime Organization (IMO) Council for the 2026–2027 term, after receiving 142 votes from member states…

Business The Saudi capital, Riyadh (SPA)

Jefferies Joins Wall Street Heavyweights in Saudi Private Credit Push

Jefferies Financial Group has entered Saudi Arabia’s private credit market for the first time, leading a USD125 million financing facility for Riyadh-based SME…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: People walk at a shopping area of Shinjuku in Tokyo, Japan, September 11, 2025. REUTERS/Fabrizio Bensch/File Photo/File Photo

Japan Finalizes $117 Billion Extra Budget to Fund Stimulus, Mostly Via Debt

Japanese Prime Minister Sanae Takaichi's government on Friday finalized a $117 billion supplementary budget for this financial year to fund a massive stimulus…

Asharq Al Awsat
Business A vessel passes through the Suez Canal, Egypt, November 25, 2025. REUTERS/Mohamed Abd El Ghany

Egypt's GDP Grew by 5.3% in First Quarter of 2025/2026

Egypt's GDP grew by 5.3% in the first quarter of its 2025/26 fiscal year compared with 3.5% in the same period a year earlier, the planning ministry said on…

Asharq Al Awsat
Business FILE- A view of the control room at the European Space Agency in Darmstadt, Germany, on Sept. 30, 2016.(AP Photo/Michael Probst, File)

European Nations Agree 30% Boost in Three-year Space Budget

European nations agreed on Thursday to increase spending on space over the next three years by about 30% to 22.1 billion euros, part of an effort to try to…

Asharq Al Awsat
Business A simulated image of the Masar project developed by Umm Al Qura for Development and Construction (SPA). 

Saudi Sovereign Fund Sells $253 Million Stake in Masar

The Saudi Public Investment Fund (PIF) announced on Wednesday the completion of the sale of part of its stake in Umm Al Qura for Development and Construction,…

Asharq Al Awsat (Riyadh)
Business Fahd Hamidaddin, CEO and board member of the Saudi Tourism Authority, at the International Exhibitions and Conferences Summit on Wednesday (Asharq Al-Awsat). 

Saudi Tourism Chief: Kingdom Now Outpaces Las Vegas With Over 11,000 Annual Events

Saudi Arabia is now hosting more than 11,000 events each year - surpassing global entertainment centers such as Las Vegas - according to Fahd Hamidaddin, CEO…

Asharq Al Awsat (Riyadh)
Business Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London (Reuters)

Gold Eases from Near Two-week High as Investors Book Profits

Gold edged lower on Thursday on profit-taking after it hit a near two-week high in the previous session, while investors weighed the possibility of a December…

Asharq Al Awsat
Business The Saudi Ports Authority has signed an agreement with Hizone Logistics to establish a logistics park for container offloading and storage at King Abdulaziz Port in Dammam. (SPA)

Mawani, Hizone Logistics Sign SAR30 Million Deal to Establish Logistics Park in Dammam

The Saudi Ports Authority (Mawani) has signed an agreement with Hizone Logistics to establish a logistics park for container offloading and storage at King…

Asharq Al Awsat
Business This file photo taken on October 17, 2017 shows excess flammable gasses burning from gas flares at the Bai Hassan oil field, west of the multi-ethnic northern Iraqi city of Kirkuk. (AFP)

Operations Suspended at Major Iraq Gas Field Following Drone Attack

A drone attack prompted the suspension of operations at the Khor Mor gas field, one of the largest gas fields in Iraqi Kurdistan, field engineers said on…

Asharq Al Awsat