Business

World Food Prices Dip in October, but Remain Higher Than a Year Ago

Business A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World Food Prices Dip in October, but Remain Higher Than a Year Ago

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6%…

Business Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)

Copper Falls, Set for Worst Week Since March on AI Rout

Copper dropped on Friday and was set for its biggest weekly drop in London since March, as a rout in technology stocks battered markets. Benchmark three…

Asharq Al Awsat
Business Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)

Emerging Economies Set to Match Advanced Nations’ Renewable Capacity Additions, IEA Says

Emerging ‌and developing economies outside China are expected to add as much new renewable energy capacity as advanced economies for the first time over…

Business Gold bracelets displayed in a shop window on Green Street, east London, UK, April 30, 2024. (AFP)

Gold Drops Over 1% on Higher Oil Prices; US Payrolls Data in Focus

Gold prices slipped on Friday as oil prices rebounded, fanning inflation worries and higher-for-longer interest rate expectations, while investors awaited key…

Business A pumpjack operates near Bakersfield, California, on Oct. 16. (AFP)

Oil Set for Sharp Weekly Drop but Middle East Supply Concerns Provide Floor

Oil prices are set for a sharp weekly drop on expectations of a de-escalation of the Iran war after US President Donald Trump's party suffered election losses,…


Business The launch of Asasat Program (Asharq Al-Awsat)

Saudi Arabia Launches $4 Billion Program to Localize Rail Industry

Saudi Arabia’s Minister of Transport and Logistics, Eng. Saleh Al-Jasser, has announced the launch of the Asasat Program, a collaboration between Saudi…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.  REUTERS/Agustin Marcarian/File Photo

Oil Prices Firm as Geopolitical Tensions Raise Supply Concerns

Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Brent…

Asharq Al Awsat
Business A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold Gains for Fourth Day as Geopolitical Tensions Escalate

Gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while…

Asharq Al Awsat
Business Minister of Tourism Ahmed Al-Khateeb speaks at the Local Content Forum 2024 held in Riyadh. SPA

Saudi Arabia’s Al-Khateeb: Tourism Key Supporter of Economic Diversity

Minister of Tourism Ahmed Al-Khateeb has underscored the tourism sector’s potential to create jobs across Saudi Arabia, given the diverse tourist sites and…

Asharq Al Awsat (Riyadh)
Business FILE - Russia's natural resources minister Alexander Kozlov, right, is greeted by Yun Jong Ho, minister of External Economic Relations, as the Russian delegation leaves Pyongyang Airport in Pyongyang, on Nov. 16, 2023. (AP Photo/Jon Chol Jin, File)

North Korea, Russia Agree to Expand Economic Cooperation

North Korea and Russia reached a new agreement for expanding economic cooperation following high-level talks in Pyongyang this week, the North’s state media…

Asharq Al Awsat
Business FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

Bitcoin Rises Above $94,000 for First Time

Bitcoin rose to a record high above $94,000 as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt boosted…

Asharq Al Awsat
Business FILE PHOTO: A view of HSBC building in Canary Wharf financial district in London, Britain, August 1, 2023. REUTERS/Susannah Ireland/File Photo

UK Inflation Jumps to 2.3%

British inflation jumped by more than expected last month to rise back above the Bank of England's 2% target and underlying price growth gathered speed too,…

Asharq Al Awsat (London)
Business The Saudi flag. Asharq Al-Awsat

Saudi Arabia Says Determined to Cooperate with Int’l Partners to Achieve Sustainable Development Goals

Saudi Minister of Economy and Planning Faisal Alibrahim affirmed that the Kingdom's efforts in international forums and its role as an effective partner in the…

Asharq Al Awsat (Rio de Janeiro)
Business Ibrahim Thiaw, Under-Secretary-General and Executive Secretary of the United Nations Convention to Combat Desertification (UNCCD)

Thiaw Ahead of COP16: $355 Billion Needed Annually to Combat Desertification

With the 16th Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) set to take place in Riyadh in early December, the…

Asharq Al Awsat (Riyadh)
Business Egyptian Petroleum Minister Karim Badawi speaks at an event hosted by the American Chamber of Commerce in Cairo. (Egyptian Ministry of Petroleum)

Egypt Increased Gas, Oil Production in Q3 of 2024

Egypt’s Petroleum Minister Karim Badawi announced that his country had increased gas production between July and October 2024, with an extra 200 million cubic…

Asharq Al Awsat (Cairo)
Business A Russian Yars intercontinental ballistic missile system drives in Red Square during a military parade on Victory Day, which marks the 78th anniversary of the victory over Nazi Germany in World War Two, in central Moscow, Russia May 9, 2023. Sputnik/Gavriil Grigorov/Pool via REUTERS

Global Markets Reel from Putin's Nuclear Threats

President Vladimir Putin’s remarks on Tuesday about revising Russia’s nuclear doctrine triggered immediate reactions in global financial markets, as investors…

Asharq Al Awsat
Business A group photo during the MENAFATF conference in Riyadh (X)

SAMA: Saudi Arabia Unites Regional Efforts to Combat Money Laundering

Governor of the Saudi Central Bank Ayman Al-Sayari reaffirmed the Kingdom’s commitment to unifying regional efforts to combat money laundering, terrorist…

Asharq Al Awsat (Riyadh)
Business Participants attend the opening session of the Dubai Future Forum. (Asharq Al-Awsat)

Dubai Forum Highlights 7 Key Developments the World Will Witness in the Future

Participants at the Dubai Future Forum 2024 identified seven transformative developments that will reshape humanity’s future: the shift in evaluating growth,…

Asharq Al Awsat (Dubai)
Business A Ukrainian national flag flutters near buildings destroyed by Russian military strikes in Borodianka, Ukraine, February 15, 2023. (Reuters)

Ukraine Receives New IMF Loan 1,000 Days into War

The International Monetary Fund (IMF) and Ukrainian authorities have reached an agreement that would give Ukraine access to about $1.1 billion, the IMF said on…

Asharq Al Awsat (Washington)
Business Speakers participate in a discussion session in the Saudi pavilion during the COP29. (Asharq Al-Awsat)

Saudi Arabia Tackles Carbon Management Challenges at COP 29

During a panel discussion titled, “The Carbon Management Challenge: Scaling Carbon Management to Gigaton Levels” at the Saudi Pavilion at COP 29, speakers…

Asharq Al Awsat (Baku)
Business Aramco, Rongsheng Petrochemical Sign Framework Agreement to Advance SASREF Expansion

Aramco, Rongsheng Petrochemical Sign Framework Agreement to Advance SASREF Expansion

Saudi Aramco, one of the world's leading integrated energy and chemicals companies, Aramco affiliate Saudi Aramco Jubail Refinery Company (SASREF), and an…

Business The forum underscores Saudi Arabia’s commitment to advancing global maritime security and innovation through collaboration and technology-driven solutions. (SPA)

Third Saudi International Maritime Forum Opens in Eastern Region

The Third Saudi International Maritime Forum opened in the Eastern Region on Tuesday. The event is organized by the Royal Saudi Naval Forces under the theme …

Business G20 leaders meet in Brazil. (Reuters)

SAMA Governor: Saudi Arabia Plays Key Role in Supporting Global Economic Recovery

Saudi Central Bank (SAMA) Governor Ayman Al-Sayari emphasized the Kingdom’s pivotal role in sustaining global economic recovery and maintaining financial…

Asharq Al Awsat (Rio de Janeiro)
Business Sara Ahmed Buhijji, CEO of Bahrain Tourism and Exhibitions Authority 

Coordination Committee Seeks to Promote Bahraini-Saudi Tourism Exhibitions

Sara Ahmed Buhijji, CEO of Bahrain Tourism and Exhibitions Authority, revealed the formation of a committee dedicated to coordinating exhibitions, conferences,…

Bandar al-Mosalam (Manama)
Business Ma’aden CEO Robert Wilt. (Future Investment Initiative)

Ma’aden CEO to Asharq Al-Awsat: 820,000 Meters of Exploration Wells Drilled in Saudi Arabia

The Saudi Arabian Mining Company (Ma’aden) has undertaken the largest exploration program in a single region worldwide as part of the Kingdom’s efforts to…

Ayat Nur (Riyadh)
Business FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.  REUTERS/Agustin Marcarian/File Photo

Oil Slips on Sverdrup Field Restart, Geopolitical Fears Support

Oil slipped on Tuesday pressured by the restart of production at Norway's Johan Sverdrup oilfield, although investor caution arising from fears of an…

Asharq Al Awsat
Business A man walks with his bicycle along a crosswalk in Beijing, China, 16 November 2024. (EPA)

IMF Warns Asia Retaliatory Tariffs Could Undermine Growth

The International Monetary Fund (IMF) warned on Tuesday that "tit-for-tat" tariffs could undermine Asia's economic prospects, raise costs and disrupt supply…

Business The World Bank logo. (File/Asharq Al-Awsat Ar)

Biden Pledges Record $4 bln US Contribution to World Bank Fund for Poorest Countries

US President Joe Biden has pledged a $4 billion US contribution to the World Bank's International Development Association (IDA) fund for the world's poorest…

Asharq Al Awsat
Business  Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)

Chip Powerhouse Taiwan Calls for Economic Partnership Deal with EU

Taiwan President Lai Ching-te called on Monday for the signing of an economic partnership agreement with the European Union, saying it would boost cooperation…