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 Artefact “Data & AI Summit 2024” in Riyadh, Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Attracts 40 French AI Startups

Saudi Arabia has brought in 40 French AI startups through its National Industrial Development and Logistics Program (NIDLP), said Rachid Boulaouane, Investment…

Asharq Al Awsat (Riyadh)
Business The Saudi Minister of Economy and Planning has met with the United Nations Development Program (UNDP) Administrator in Hamburg. SPA

Saudi Economy Minister, UNDP Administrator Discuss Enhancing Partnership

Saudi Minister of Economy and Planning Faisal Alibrahim has met with United Nations Development Program (UNDP) Administrator Achim Steiner on the sidelines of…

Asharq Al Awsat (Hamburg)
Business SRSA aims to develop a thriving coastal tourism sector in the Red Sea, contributing approximately SAR85 billion to the GDP by 2030. - Photo by SPA

Red Sea Authority Sets Goal to Attract 19 Million Tourists to Coast by 2030

The Saudi Red Sea Authority (SRSA), in collaboration with the Ministry of Investment, released on Tuesday a report titled "Invest in Coastal Tourism,"…

Asharq Al Awsat
Business QatarEnergy Signs 20-year Naphtha Supply Deal with Shell

QatarEnergy Signs 20-year Naphtha Supply Deal with Shell

QatarEnergy has entered into a long-term naphtha supply agreement with Shell, supplying up to 18 million metric tons of naphtha to the London-listed company…

Asharq Al Awsat
Business A Turkish flag with the Bosphorus Bridge in the background, flies on a passenger ferry in Istanbul, Türkiye September 30, 2020. (Reuters)

Türkiye Says Exports to Palestinians Surge after Halting Trade with Israel over Gaza War

Türkiye's exports to Palestinian territories leapt sixfold in the first nine months of the year to $571.2 million, data showed on Tuesday, five months after…

Asharq Al Awsat
Business Mawani Reports Significant Cargo Growth at Saudi Ports in September 2024

Mawani Reports Significant Cargo Growth at Saudi Ports in September 2024

The Saudi Ports Authority (Mawani) has reported a 7.82% surge in the total cargo tonnage handled at its ports in September 2024, hitting 28,097,022 tons, up…

Asharq Al Awsat
Business A general view of Abu Dhabi, UAE. (WAM)

UAE Cabinet Approves 12% Spending Increase in 2025 Budget

The United Arab Emirates' cabinet has approved a balanced budget for the 2025 fiscal year with expenditures rising to 71.5 billion dirhams ($19.47 billion),…

Business A view of smelted gold bars at a smelting facility in Accra, Ghana August 22, 2024. REUTERS/Francis Kokoroko

Gold Eases as Dollar Firms; Focus on Fed Minutes

Gold prices edged lower on Tuesday, pressured by a stronger dollar, while investors awaited minutes of the Federal Reserve's latest policy meeting and more…

Asharq Al Awsat
Business The Saudi Air Connectivity Program participating at the Routes World 2024 (Asharq Al-Awsat)

Saudi Air Connectivity Program Negotiates with Global Firms to Expand Routes to Kingdom

The Saudi Air Connectivity Program is meeting with major international transport companies at the Routes World 2024 in Manama, Bahrain. The goal is to…

Bandar al-Mosalam (Manama)
Business FILE PHOTO: US dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo/File Photo

Fed's Williams Says Appropriate Again to Cut Rates 'Over Time'

Federal Reserve Bank of New York President John Williams said that it will be appropriate again for the central bank to reduce rates 'over time,' after…

Asharq Al Awsat
Business The ogo of British Petrol BP is seen at a petrol station in Pienkow, Poland, June 8, 2022 (Reuters)

BP Abandons Goal to Cut Oil Output, Resets Strategy

BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor…

Asharq Al Awsat (London)
Business PIF will hold 40% interest in Selfridges Group (PIF)

Saudi PIF Forms Partnership with Central Group in Selfridges

Saudi Arabia’s Public Investment Fund (PIF) announced on Monday that it will form a strategic partnership with Central Group, a leading retail, real estate and…

Asharq Al Awsat (Riyadh)
Business A Chevron gas station sign is seen in Austin, Texas, US, October 23, 2023. REUTERS/Brian Snyder/File Photo

Chevron to Sell Assets for $6.5 Billion to Canadian Natural Resources

Chevron is selling its assets in the Athabasca oil sands and Duvernay shale formation to Canadian Natural Resources for $6.5 billion, the oil giant said on…

Asharq Al Awsat (London)
Business Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)

Gulf Markets Decline Amid Escalating Geopolitical Tensions in the Region

Most stock markets in the Gulf region closed lower on Sunday, amid fears that increasing geopolitical tensions could lead to a broader conflict in the region. …

Asharq Al Awsat (Riyadh)
Business A building offering small housing units in Riyadh. (Dar Al Arkan Real Estate)

Saudi Arabia: Real Estate Deals for Small Residential Units Increased by 151%

The Saudi real estate market has recently seen an increased demand for small residential units, ranging in size from 30 to 65 square meters, with real estate…

Mohammed al-Mutairi (Riyadh)
Business A Saudi budget airline Flynas Airbus A320-200 plane flies over the Red Sea resort of Sharm el-Sheikh, south of Cairo, Egypt December 15, 2018. (Reuters)

Saudi Arabia Attracts Airlines, Opens New Routes in 2024

CEO of the Saudi Air Connectivity Program Majid Khan said the program has successfully attracted 12 new airlines, added 20 new destinations, and increased…

Bandar al-Mosalam (Manama)
Business Algerian capital (Reuters)

Algeria to Buy $1.5 Billion Shares in BRICS Bank

Algerian President Abdelmadjid Tebboune said on Saturday his country intends to buy shares in the BRICS New Development Bank (NDB) for $1.5 billion. On the…

Asharq Al Awsat (Algiers)
Business FILE PHOTO: A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, as a 1.5MW GE wind turbine from the Desert Sky Wind Farm is seen in the distance, near Iraan, Texas, US, March 17, 2023. REUTERS/Bing Guan/File Photo

Oil Pares Gains after Strongest Weekly Rise in Over a Year

Oil prices pared gains in early trade on Monday after charting their biggest weekly rise in over a year on Friday amid mounting threats of a region-wide war in…

Asharq Al Awsat
Business Ceer, Saudi Arabia’s first electric vehicle (EV) brand

Ceer Signs MoU with EVIQ to Enhance EV Driving Experience in Saudi Arabia

Ceer, Saudi Arabia’s first electric vehicle brand, has signed a memorandum of understanding with Electric Vehicle Infrastructure Company EVIQ to support the…

Asharq Al Awsat (Riyadh)
Business The Bank of Israel building is seen in Jerusalem June 16, 2020. REUTERS/Ronen Zvulun/File Photo

Year of War Creates Cracks in Israel's Borrowing Strength

Israel's economy has for almost a year ridden out the chaos of a war that risks spiralling into a regional conflict, but rising borrowing costs are starting to…

Asharq Al Awsat
Business Hossam Heiba, Chairman of the Investment Authority and Free Zones, signs a memorandum of understanding with the French Investment Promotion Agency in the presence of Hassan Al-Khatib, Minister of Investment and Foreign Trade. (Egyptian Investment Authority)

French Companies to Inject New Investments in Egyptian Market

Several French companies have committed to making new investments in the Egyptian market across various sectors, including transportation, food, and…

Asharq Al Awsat (Paris)
Business FILED - 21 January 2022, Berlin: The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. Photo: Fabian Sommer/dpa

TotalEnergies Reportedly Considers Foray Into Copper Trading

France's TotalEnergies is considering a move into trading copper, expanding its oil trading operations into metals to capitalize on the global energy…

Asharq Al Awsat (London)
Business People shop at a bazaar in Istanbul. Reuters

Expert: Türkiye Anti-inflation Steps Don’t Go Far Enough

Although Turkish inflation slowed in September, it is still raging out of control with the government avoiding difficult decisions that could help tackle it,…

Asharq Al Awsat (Ankara)
Business UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić. WAM

UAE, Serbia Sign Comprehensive Economic Partnership Agreement

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić have witnessed the exchange of a Comprehensive Economic Partnership…

Asharq Al Awsat (Abu Dhabi)