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 People walk through a market in the low-income Petare neighborhood, in Caracas, Venezuela November 16, 2024. (Reuters)

Venezuela Depreciation Risks Reversing Years of Inflation Gains

Currency depreciation is set to reverse years of declining inflation in economically beleaguered Venezuela, public and private sector sources say, as foreign…

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 Rebounds to End 6-Session Losing Streak as Dollar Rally Pauses

Gold prices rebounded on Monday, having posted losses in the previous six sessions, with gains driven by a pause in the dollar's rally, while investors await…

Asharq Al Awsat
Business AI is expected to contribute to 12 percent of Saudi Arabia GDP by 2030. (SPA)

SCAI CEO to Asharq Al-Awsat: AI Boosts Saudi Arabia’s Economic Future

The Saudi Company for Artificial Intelligence (SCAI), wholly owned by the Saudi Public Investment Fund (PIF), is leading efforts to build a world class…

Ayat Nur (Riyadh)
Business A person walks past a working oil well in a residential neighbourhood in Signal Hill, California, US, November, 14, 2024.  REUTERS/Mike Blake

Oil Nudges Up after Russia-Ukraine Tensions Escalate

Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's…

Asharq Al Awsat
Business Riyadh Governor Inaugurates 11th Riyadh Economic Forum on Monday

Riyadh Governor Inaugurates 11th Riyadh Economic Forum on Monday

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, Governor of Riyadh Region Prince Faisal bin Bandar bin Abdulaziz…

Asharq Al Awsat
Business Saudi Competition Authority Approves 116 Applications for Acquisition

Saudi Competition Authority Approves 116 Applications for Acquisition

The Saudi General Authority for Competition (GAC) has initiated criminal proceedings against 24 establishments, processed 299 complaints, and approved…

Saeed Al Abyad (Jeddah)
Business The sun sets behind high-voltage power line poles (Reuters)

Saudi-Egyptian Electrical Connection Improves Power Supply in the Region

Mohamed Farouk, Vice Chairman of El-Gammal Group, the company implementing the Egypt-Saudi Arabia electrical interconnection project, stated that the…

Sabri Najeh (Cairo)
Business Macron met on Saturday with a group of Saudi businessmen (X)

Macron Meets with Saudi Businessmen to Promote Bilateral Investments

French President Emmanuel Macron held an extensive discussion session with a group of prominent Saudi business leaders, in the presence of Saudi Minister of…

Asharq Al Awsat (Paris)
Business Al-Haramain highspeed train (SPA)

Saudi Railway Company CEO: Saudi Arabia to Localize Railway Industry

The Saudi Railway Company (SAR) is preparing to launch a specialized program to localize the railway industry in the coming days. This comes as SAR surpassed…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri. SPA

Saudi Arabia, Tunisia Discuss Strengthening Collaboration in Industry and Transport

Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri. The meeting focused on strengthening…

Asharq Al Awsat (Tunis)
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Prices Set for Weekly Loss on China Demand Fears

Oil prices were steady on Friday, heading for a weekly loss, as investors mulled waning Chinese demand and a possible slowing of the US Federal Reserve's…

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 Set for Worst Week in 3 Years as US Dollar Rallies

Gold prices steadied near the previous session's two-month lows on Friday and were poised for their worst weekly performance in over three years as a rallying…

Asharq Al Awsat
Business A German flag blows in the wind in front of a stack of containers at the harbor in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights

Germany to Warn US of Damage from 'Spiral of Tariff Hikes', Berlin Says

Germany will let the future US administration know of the damage that a "spiral of tariff hikes" would cause, a German government official said on Friday ahead…

Asharq Al Awsat
Business Saudi Energy Minister with Presidents of Azerbaijan, Uzbekistan, and Kazakhstan (Ministry Website)

Saudi Arabia Signs Renewable Energy Cooperation Program with 3 Countries at COP29

Saudi Arabia has signed a joint agreement with Azerbaijan, Kazakhstan, and Uzbekistan to boost cooperation on renewable energy during the COP29 climate summit…

Asharq Al Awsat (Baku)
Business The Saudi Telecom Company (STC) pavilion at the LEAP 24 International Conference in Riyadh (Asharq Al-Awsat)

Saudi PIF Raises $1 Billion from 2% STC Stake Sale

Saudi Arabia’s Public Investment Fund (PIF) raised SAR 3.86 billion ($1.03 billion) by selling a 2% stake in Saudi Telecom Company (STC) through the region’s…

Mohammed al-Mutairi (Riyadh)
Business Pedestrians walk past The Palace of Westminster, home to the Houses of Parliament in central London, on the morning of November 13, 2024. (Photo by HENRY NICHOLLS / AFP)

UK Economic Growth Slows Down Sharply in Third Quarter

UK economic growth slowed down sharply in the third quarter of the year, official figures showed Friday. The Office for National Statistics said growth during…

Asharq Al Awsat (London)
Business The first conference in this series will be held in AlUla on February 16-17. SPA

Saudi Arabia, IMF to Hold High-Level Conference on Emerging Markets in AlUla in Feb

Saudi Minister of Finance Mohammed Aljadaan and Managing Director of the International Monetary Fund IMF Kristalina Georgieva announced on Thursday that the…

Asharq Al Awsat (Washington)
Business A damaged car lies amid the heavy destruction in the aftermath of an Israeli airstrike that targeted the neighborhood of Rweiss in Beirut's southern suburbs on November 14, 2024. (Photo by AFP)

World Bank: Israel-Hezbollah Conflict Cost Lebanon $8.5 Billion

A World Bank report estimated the cost of physical damage and economic losses due to the conflict in Lebanon at $8.5 billion - a massive price for a country…

Asharq Al Awsat
Business The inflation rate is among the lowest in the G20 countries. SPA

GASTAT: Saudi Arabia's Inflation Rate Reached 1.9% in October

The General Authority for Statistics (GASTAT) revealed on Thursday that Saudi Arabia's annual inflation rate reached 1.9% in October 2024. This rate is among…

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

Gold is Suddenly Not So Glittery after Trump's White House Victory

After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump's victory in the presidential election. Gold…

Asharq Al Awsat
Business FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil Prices Broadly Flat After Falling On Dollar Surge

Oil prices were largely steady on Thursday, with traders holding fire after declines earlier this week on a stronger US dollar and worries about rising supply…

Asharq Al Awsat
Business FILE PHOTO: Samsung Electronics’ booth is seen during Korea Electronics Show 2024 in Seoul, South Korea, October 23, 2024. REUTERS/Kim Hong-Ji/File Photo

Samsung Electronics Says it Reaches Preliminary Wage Deal with Union

Samsung Electronics has reached a preliminary agreement with its main workers' union in South Korea for a wage increase of 5.1%, it said on Thursday. Union…

Asharq Al Awsat
Business Crown Prince Salman bin Hamad with the Saudi Falcons teams (2024 Bahrain International Airshow Website)

Gulf States Strengthen their Position as Key Players in Global Aviation

Bahrain’s Crown Prince Salman bin Hamad Al Khalifa officially opened the 2024 Bahrain International Airshow at Sakhir Airbase on Wednesday, with a strong…

Abdulhadi Habtor (Manama)
Business Visitors at Saudi Arabia's pavilion during the UN Climate Change Conference COP29 (EPA)

Saudi Arabia Highlights Energy Security for Economic Growth and Sustainability at COP29

Saudi Arabia's participation in COP29 reflects its commitment to tackling climate change. The Kingdom is focusing on reducing emissions through a variety of…

Asharq Al Awsat (Baku)