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 General Authority for Exhibitions and Conferences Fahd al-Rasheed at the opening of IMS25 (Asharq Al-Awsat)

Saudi Arabia Emerges Among Fastest Growing G20 Events Markets

Saudi Arabia is gearing up for what officials describe as a golden decade for business events, driven by unprecedented expansion in its exhibitions and…

Abir Hamdi (Riyadh)
Business File photo of a police officer standing near a Moroccan national flag near the main stadium during preparations for the FIFA Club World Cup in Agadir, December 10, 2013. REUTERS/Amr Abdallah Dalsh

Patrick Drahi's Altice to Sell Majority Stake in Morocco's Intelcia

Patrick Drahi's Altice, a global telecommunications and media conglomerate, has agreed to sell its majority stake in Morocco's Intelcia, giving local partners…

Asharq Al Awsat
Business The event took place during MODON's participation in the 21st General Conference of the United Nations Industrial Development Organization (UNIDO) - SPA

MODON Signs Industrial and Logistics Contracts and MoUs with Investments Exceeding SAR8.8 Billion

Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the Saudi Authority for Industrial Cities and Technology Zones (MODON)…

Asharq Al Awsat
Business Executive Vice President of Technology and Innovation at Saudi Aramco Ahmad Al- Khowaiter. (Aramco)

Saudi Aramco Expands Global Footprint with New Paris Office and AI Focus 

Executive Vice President of Technology and Innovation at Saudi Aramco Ahmad Al- Khowaiter underlined on Tuesday the critical connection between artificial…

Business Saudi and Syrian officials during the signing ceremony. (SANA)

Syria and Saudi Arabia’s AJDAN Sign MoU to Establish Tourist Project in Damascus

The Syrian Investment Authority signed on Tuesday a memorandum of understanding (MoU) with the AJDAN Saudi real estate company to establish a tourism project…

Asharq Al Awsat (Damascus)
Business A plane prepares ahead of taking-off, after radar failure led to the suspension of outbound flights across the UK, at Heathrow Airport in Hounslow, London, Britain, July 30, 2025. (Reuters)

London Backs $64 Billion Plan to Expand Heathrow Airport 

Britain has backed Heathrow Airport's 49-billion-pound ($64 billion) expansion and upgrade plan as the basis for adding a new runway, choosing it over a…

Asharq Al Awsat (London)
Business The master plan for the new Abha International Airport is set to deliver a significant upgrade in capacity and passenger experience. (SPA)

Saudi Arabia’s Abha International Airport Ranks Third Globally for On-Time Performance 

Saudi Arabia’s Abha International Airport achieved a new global milestone, ranking third worldwide in on-time flight performance for October 2025, with an on…

Business The talks focused on exploring and identifying shared investment opportunities in promising areas. (SPA)

Saudi Industry Minister Holds Talks to Boost Industrial, Mining Cooperation with Friendly Nations 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held on Tuesday a series of bilateral meetings with counterparts from several brotherly and…

Business  Egyptian President Abdel Fattah al-Sisi meets Eni CEO Claudio Descalzi on Tuesday. (Egyptian presidency)

Egypt’s Sisi Meets Eni CEO to Discuss Energy Investments

Egyptian President Abdel Fattah al-Sisi met Eni CEO Claudio Descalzi to review the Italian group's investments in the African country and discuss new…

Business An Iranian woman puts a nozzle back after refuelling her car at a petrol station in Tehran, Iran, January 25, 2016. REUTERS/Raheb Homavandi/TIMA

Iran to Raise Fuel Prices Under Limited Conditions

Iran will raise the price of its heavily subsidised fuel under certain limited circumstances, the semi-official Tasnim news agency reported on Tuesday, as the…

Asharq Al Awsat
Business United States Navy aircraft carrier USS Dwight D. Eisenhower (CVN 69) approaches the Friendship Bridge during a Suez Canal transit in this picture taken April 2, 2021 and released by US Navy on April 3, 2021. (Reuters)

Maersk Vessels to Resume Transit via Suez Canal from the Start of December, Canal Authority Says

Maersk container ships will resume transit via the Suez Canal on a partial basis from the beginning of December prior to a full return, the Suez Canal…

Asharq Al Awsat
Business Saudi Telecom Company (stc) contributed around 80% of total profits during the first three quarters of 2025. (SPA)

Saudi Telecom Revenues Near $21 Billion in 2025

Saudi Arabia’s listed telecommunications companies posted strong financial results over the first nine months of 2025, supported by accelerated digital…

Mohammed al-Mutairi (Riyadh)
Business Small toy figurines are seen on representations of the Bitcoin virtual currency displayed in front of an image of China's flag in this illustration picture, April 9, 2019. (Reuters)

Bitcoin Mining in China Rebounds, Defying 2021 Ban

Bitcoin mining is quietly staging a comeback in China despite being banned four years ago, as individual and corporate miners exploit cheap electricity and a…

Business Saudi Minister of Investment Khalid Al-Falih spoke at the Global Industry Summit 2025. Asharq Al-Awsat

Al-Falih: Saudi Arabia More Competitive Due to Strategic Location, Economic Vision

Minister of Investment Khalid Al-Falih has said that Saudi Arabia is steadily advancing toward greater industrial competitiveness, thanks to its strategic…

Asharq Al Awsat (Riyadh)
Business Saudi Aramco Partners with Pasqal to Deploy Quantum Computer

Saudi Aramco Partners with Pasqal to Deploy Quantum Computer

Saudi Aramco in partnership with Pasqal, a global leader in neutral-atom quantum computing, have achieved a major breakthrough for the Middle East’s technology…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: The International Monetary Fund logo is seen outside the headquarters building in Washington, US September 4, 2018. REUTERS/Yuri Gripas//File Photo

IMF Anticipates Bahrain Economic Growth to Rise to 2.9%

An International Monetary Fund (IMF) mission concluded a visit to Bahrain, saying that growth in the country is anticipated to rise to 2.9 percent in 2025. …

Asharq Al Awsat (Washington)
Business A general view of Riyadh, Saudi Arabia. (SPA)

Council of Economic Development Highlights Continued Strong Growth of Saudi Economy 

The Saudi Council of Economic and Development Affairs convened on Monday for an overview of the national economy across its various sectors. The council…

Asharq Al Awsat (Riyadh)
Business A night view of Riyadh, Saudi Arabia. (Reuters)

Riyadh to Host MOMENTUM 2025 in December

Under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister and Chairman of the Board of Directors of the National…

Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Tunisian Minister of Economy and Planning Samir Abdelhafid meet in Riyadh. (SPA)

Saudi Arabia, Tunisia Discuss Strengthening Industrial Integration

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef met with Tunisian Minister of Economy and Planning Samir Abdelhafid on the sidelines of the…

Business Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade Majid Al-Qasabi addresses the forum on Sunday. (SPA)

Saudi-French Business Forum Opens in Riyadh

The Saudi-French Business Forum opened in Riyadh on Sunday, hosted by Saudi Minister of Commerce and Chairman of the Board of Directors of the General…

Business The 15-km marine bridge linking Safwa in Qatif Governorate with Ras Tanura (Saudi Projects). 

Saudi Arabia Opens One of Its Longest Marine Bridges to Boost Logistics, Economic Growth

Saudi Arabia’s Ministry of Transport has inaugurated a major new marine bridge in the Eastern Province, described as one of the longest in the Kingdom and the…

Asharq Al Awsat (Dammam)
Business The 21st General Conference of the United Nations Industrial Development Organization (UNIDO) is taking place in Riyadh. (Saudi Ministry of Industry).

Global Spotlight on Riyadh as Saudi Arabia Unveils 800 Investment Opportunities at UNIDO Summit

The Saudi capital has become the center of international attention as it hosts the 21st General Conference of the United Nations Industrial Development…

Asharq Al Awsat (Riyadh)
Business Angola this year celebrated 50 years since its independence from Portugal. Julio PACHECO NTELA / AFP

EU, Africa Leaders to Talk Trade and Minerals, as Ukraine Looms Large

European and African leaders gather in Angola Monday for a summit aimed at deepening economic and security ties that will serve as a backdrop to emergency…

Asharq Al Awsat
Business A salesperson shows a gold ring to customers at a jewellery showroom in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave

Gold Dips as Dollar Firms, Investors Weigh US Rate Cut Bets

Gold prices dipped for a third straight session on Monday as the dollar firmed near six-month highs and weighed on the yellow metal, while market participants…

Asharq Al Awsat