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 Smoke rises from the site of an Israeli airstrike in Dahiyeh, Beirut, Lebanon, Tuesday, Oct. 1, 2024. (AP)

Maersk Continues Beirut Port Calls Despite Business Disruption

Container shipping company Maersk said on Wednesday it continued to serve its customers in Lebanon with two weekly callings in Beirut despite the deteriorating…

Business People take cover by the side of a road as a siren sound, after Iran fired a salvo of ballistic missiles at Israel, in Tel Aviv, Israel, October 1, 2024. (Reuters)

S&P Downgrades Israel’s Long-Term Ratings to 'A' amid Hezbollah Conflict

S&P Global downgraded Israel's long-term ratings to "A" from "A+" on Tuesday, citing risks to the country's economy and public finances from the escalating…

Business United Arab Emirates Energy Minister Suhail al-Mazrouei, speaks to reporters, on the sidelines of the World Governments Summit, in Dubai, UAE, February 12, 2024. (Reuters)

OPEC+ Doing ‘Noble’ Job of Balancing Oil Market, Says UAE Energy Minister

United Arab Emirates Energy Minister Suhail al-Mazrouei said on Wednesday OPEC+ was doing a noble job of balancing the oil market even if does not produce the…

Business People shop at a popular market in Istanbul. (Local media)

Türkiye Inflation Expected to Fall in September for First Time Since 2021

Annual inflation in Türkiye is expected to fall, forecasts showed, shortly before the Turkish Statistical Institute (TurkStat) will reveal inflation figures on…

Saeed Abdulrazek (Ankara)
Business A pumpjack extracts oil in the Inglewood Oil Field in Los Angeles, Wednesday, Sept. 25, 2024. (AP Photo/Eric Thayer)

Oil Prices Jump More Than $1 as Middle East Tensions Escalate

Oil prices jumped by over a dollar on Wednesday due to rising concerns Middle East tensions could escalate, potentially disrupting crude output from the region…

Asharq Al Awsat
Business File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Council of Economic and Development Affairs (Asharq Al-Awsat)

Saudi Economic Affairs Council Follows up Performance of Vision 2030 Programs

Saudi Arabia’s Council of Economic and Development Affairs reviewed the performance of the Vision 2030 realization programs for the second quarter of this year…

Asharq Al Awsat (Riyadh)
Business Oil Prices Drop as Prospect of Additional Supply Offset Mideast Fears

Oil Prices Drop as Prospect of Additional Supply Offset Mideast Fears

Oil prices slid by more than 2% on Tuesday as a stronger supply outlook and tepid global demand growth outweighed fears over escalating conflict in the Middle…

Asharq Al Awsat
Business A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. (Reuters)

Abu Dhabi's ADNOC to Buy German Chemicals Company Covestro for $16.4 Bln

Abu Dhabi state oil giant ADNOC said on Tuesday that it has agreed to buy German chemicals producer Covestro for 15.9 billion euros ($18 billion) including…

Business Riham ElGizy, CEO of Voluntary Carbon Market.

Saudi Arabia Aims for Global Carbon Market Share Equal to Regional Emissions

Riham ElGizy, CEO of Voluntary Carbon Market (VCM), a Saudi company which is the first of its kind in the MENA region, said the company currently holds about 1…

Sabri Najeh (Cairp)
Business An employment gathering at the Chamber of Commerce in Qassim, Saudi Arabia. (Asharq Al-Awsat)

Saudi Unemployment Rate Approaches 2030 Target

The unemployment rate among Saudis has reached a historic low of 7.1% in the second quarter of this year, close to the Saudi Vision 2030 target of 7%. This…

Bandar al-Mosalam (Riyadh)
Business The Saudi government affirmed its commitment to adopting strategic expansionary spending policies that support economic diversification and sustainable growth (Asharq Al-Awsat)

Saudi Arabia’s 2025 Budget Projects Revenues of $315.5 Bn

Saudi Arabia is forecasting total revenues of SAR1.184 trillion ($315.5 billion) for 2025, with expenditures expected to reach SAR1.285 trillion ($342 billion)…

Asharq Al Awsat (Riyadh)
Business ECB President Christine Lagarde. (EPA)

Lagarde: ECB's October Decision Will Reflect Greater Confidence on Inflation

The European Central Bank (ECB) is increasingly confident that inflation will fall back to its 2% target and this should be reflected in its October policy…

Asharq Al Awsat (Frankfurt)
Business The initiative aims to support the tech sector and boost the growth of the digital economy. SPA

Saudi Arabia Launches Tech Talent Hub Initiative to Boost Digital Economy Growth

The Saudi Ministry of Communications and Information Technology has launched the Tech Talent Hub initiative in collaboration with recruitment and human…

Asharq Al Awsat (Riyadh)
Business The King Abdullah Economic City Port in Saudi Arabia. (Asharq Al-Awsat)

Saudi Chambers Federation Asks Companies to Benefit from Temporary Admission System for Goods

The Saudi Chambers Federation is making rapid efforts to ensure that all local companies and institutions can benefit from this international customs system…

Bandar al-Mosalam (Riyadh)
Business Officials from the presidencies of the next three editions of the Conference of the Parties. (Asharq Al-Awsat)

Saudi Arabia Leads Int’l Efforts to Combat Climate Change, Land Degradation

The presidencies of the next three upcoming Conferences of the Parties (COP) — Saudi Arabia, Azerbaijan, and Colombia — held a meeting on the sidelines of the…

Asharq Al Awsat (New York)
Business  A solar energy project in Saudi Arabia (Asharq Al-Awsat)

SPARK Attracts More Than 60 Investors

The King Salman Energy Park (SPARK), located in Buqayq in eastern Saudi Arabia, has successfully attracted more than 60 investors, with total investments…

Asharq Al Awsat (Buqayq (Eastern Saudi Arabia))
Business Shigeru Ishiba, the newly elected leader of Japan's ruling party, the Liberal Democratic Party (LDP) poses in the party leader's office after the LDP leadership election, in Tokyo, Japan September 27, 2024. REUTERS

Japan's Incoming PM Ishiba Calls for Loose Monetary Policy

Japan's incoming prime minister, Shigeru Ishiba, said on Sunday the country's monetary policy must remain accommodative as a trend, signaling the need to keep…

Asharq Al Awsat (Tokyo)
Business Investors in the trading hall of the Saudi Stock Exchange in Riyadh (SPA)

Oil Fluctuations, Market Corrections Pressure the Saudi Stock Market Index

The Saudi stock market index (TASI) closed the first trading session of the week with a 0.83% decline, ending a seven-session streak of gains that followed the…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A view shows an oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia, June 4, 2023. REUTERS/Alexander Manzyuk/File Photo

Oil Prices Rise on Middle East Conflict Fears as Israel Steps Up Attacks

Oil prices extended gains on Monday, buoyed by escalating concerns over potential supply pressures from Middle East producers following Israel's increased…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits the JetZero and SpaceX companies during his visit to the US. (SPA)

Saudi Industry Minister Discusses Opportunities to Develop Aviation, Space Industry in the Kingdom

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visited JetZero, a company specializing in aviation, and SpaceX, the aerospace giant, in…

Business The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)

Saudi Arabia Plans Promotion Campaign in Kuwait

The Saudi Export Development Authority is scheduled to begin a promotion campaign in Kuwait from September 29 until October 1 as part of a broader strategy to…

Asharq Al Awsat (Riyadh)
Business Men reach out to buy subsidized flour sacks from a truck in Karachi, Pakistan. (Reuters file)

Will the IMF’s Bailout Stabilize Pakistan’s Economy?

Pakistan this week secured a new $7 billion loan from the International Monetary Fund (IMF) aimed at helping the South Asian nation stabilize its ailing…

Asharq Al Awsat (Washington)
Business A gas production field in the Sultanate of Oman. (Reuters)

S&P Upgrades Oman’s Credit Rating with 'Stable Outlook'

Global credit rating agency Standard & Poor’s (S&P) upgraded Oman’s credit rating to ‘BBB-’ with a stable outlook, hoping the country’s public finances…

Asharq Al Awsat (Muscat)
Business People inspect their damaged house after Hurricane Helene made landfall in Horseshoe Beach, Florida, on September 28, 2024. (Photo by CHANDAN KHANNA / AFP)

About 12% of Oil Production in Gulf of Mexico Shut-in

About 12% of current oil production and 6.04% of the current natural gas production in the Gulf of Mexico is shut-in due to storm Helene, the Bureau of Safety…

Asharq Al Awsat