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 File photo of Saudi flag/Asharq Al-Awsat

Saudi Arabia Sees 656% Surge in Leisure Tourism in 2024

The Saudi Ministry of Tourism said its sector, particularly the leisure and holiday segments, witnessed substantial growth, due in no small part to the Kingdom…

Asharq Al Awsat
Business Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)

Schengen Visa Applications in Saudi Arabia Grew by 23% in 2024

As travel and tourism continue to grow, despite the challenges faced by local, regional, and international businesses and projects, VFS Global has revealed…

Fatehelrahman Yousif (Riyadh)
Business A Leapmotor electric vehicle is put though a rain test on the production line at the Leapmotor factory in Jinhua, China's eastern Zhejiang province on September 18, 2024. (Photo by ADEK BERRY / AFP)

Report: EU to Vote on Oct 4 to Finalize Tariffs for China-made EVs

The European Union is planning to vote on whether to introduce tariffs as high as 45% on imported electric vehicles made in China on Oct. 4, Bloomberg News…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef visits the MINExpo International 2024 Las Vegas. (SPA)

Saudi Industry Minister Explores Latest Mining Technologies at MINExpo International 2024 Las Vegas

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef visited the MINExpo International 2024 Las Vegas, the largest mining exhibition in…

Business Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo

Saudi Giga-project Diriyah Agrees Deals Worth $1 bln with European Firms, Says CEO

Diriyah, one of Saudi Arabia's giga-projects, has agreed deals worth nearly $1 billion with European firms and is in talks to attract more foreign capital, its…

Asharq Al Awsat
Business A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold Eyes Best Quarter in over Eight Years

Gold halted its record run on Friday but remained on track for its best quarter since 2016 after a rally catalysed by an outsized US Federal Reserve interest…

Asharq Al Awsat
Business FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo

Oil Steady but on Track for Weekly Drop on Firmer Supply Outlook

Oil prices held steady on Friday but remained on track for a weekly fall as investors weighed expectations for increased output from Libya and the broader OPEC…

Asharq Al Awsat
Business Visitors to the Fintech 24 Conference in Riyadh (Photo: Turki Al-Aqili)

Saudi Digital Payments Market Attracts Global Investments

Saudi Arabia is pushing to increase digital payments to 70% by 2030, creating significant opportunities for global companies to expand in the region. …

Asharq Al Awsat (Riyadh)
Business Jeddah Islamic Port (Asharq Al-Awsat)

Saudi Arabia Implements Int’l Customs System to Facilitate Temporary Import of Goods

Saudi Arabia has started implementing an international customs system that facilitates the temporary import of goods for up to one year without the need to pay…

Bandar al-Mosalam (Riyadh)
Business Russian President Vladimir Putin speaking at the Russian Energy Week forum in Moscow on Thursday (EPA)

Putin: Russia to Continue Cooperation with OPEC+

Russian President Vladimir Putin said on Thursday that his country will continue to develop cooperation with the Organization of the Petroleum Exporting…

Asharq Al Awsat (Moscow)
Business Pakistan’s Prime Minister Shehbaz Sharif (Asharq Al-Awsat)

IMF: Pakistan Wins More Financing Assurances from Saudi Arabia, UAE, China

Pakistan has received “significant financing assurances” from China, Saudi Arabia and the United Arab Emirates linked to a new International Monetary Fund (IMF…

Asharq Al Awsat (Washington)
Business FILE PHOTO: A worker works on a building under construction in Beijing's Central Business District (CBD), China July 14, 2024. REUTERS/Tingshu Wang/File Photo

China Launches Late Stimulus Push to Meet 2024 Growth Target

China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull…

Asharq Al Awsat (Beijing)
Business FILE - The New York Stock Exchange, at rear, is shown on Sept. 24, 2024, in New York. (AP Photo/Peter Morgan, File)

US Economy Grew at Solid 3% Rate Last Quarter, Government Says in Final Estimate

The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government…

Asharq Al Awsat
Business A digital advertising event recently held in Riyadh (Asharq Al-Awsat)

Saudi Arabia's Digital Advertising Boom: Addressing Economic Leakage, Boosting Local Content

Saudi Arabia’s digital advertising sector is experiencing rapid growth, but a significant portion of its revenues is leaking to foreign platforms. To…

Bandar al-Mosalam (Riyadh)
Business FILE - Gold bars are shown stacked in a vault at the United States Mint, on July 22, 2014, in West Point, N.Y. (AP Photo/Mike Groll, File)

Gold Near Record High; Investors Await Fed Chair Powell's Speech

Gold prices rebounded and looked set to scale a fresh peak on Thursday, on mounting expectations for another US interest rate cut this year, while investors…

Asharq Al Awsat
Business A man walks past destruction caused by Israeli airstrikes in the Masaken neighborhood on the outskirts of Tyre, Lebanon on September 26, 2024.  (Photo by Hassan FNEICH / AFP)

EBRD: War and Weather Weigh on Economic Growth Again

War and extreme weather are weighing on economic growth in countries covered by the European Bank for Reconstruction and Development (EBRD), the bank said in a…

Asharq Al Awsat
Business FILE PHOTO: A man walks in the Central Business District on a rainy day, in Beijing, China, July 12, 2023. REUTERS/Thomas Peter/File Photo

China Vows 'Necessary Spending' to Hit Economic Growth Target

Chinese leaders pledged on Thursday to deploy "necessary fiscal spending" to meet this year's economic growth target of roughly 5%, acknowledging new problems…

Asharq Al Awsat (Beijing)
Business Smoke rises from the site of an Israeli airstrike targeting the southern village of Khiam. AFP

Lebanon’s Economy in the Grip of War: From Int’l Support in 2006 to Financial Disaster in 2024

Lebanon has experienced several devastating wars throughout its modern history, which have left catastrophic impacts on its economy and social stability. One…

Asharq Al Awsat (Beirut)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits Columbia University on Wednesday. (SPA)

Saudi Minister of Industry Visits Columbia University, Engages with Saudi and International Students

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visited on Wednesday Columbia University in the United State, the oldest university in New…

Business Commuters cross a street in Tokyo's Shinjuku business and shopping district, Japan, 17 September 2024, a day before the International Equal Pay Day. EPA/FRANCK ROBICHON

OECD Sees Global Growth Stabilizing at 3.2% this Year

Global growth is in the process of stabilizing as the drag from central bank rate hikes fades and falling inflation boosts households' incomes, the OECD said…

Asharq Al Awsat
Business A man rides an electric Lime bicycle on a bike path past the Hotel des Invalides in Paris, France, September 23, 2024. REUTERS/Abdul Saboor

Bank of France Chief: France Could Reduce Deficit to EU Limit in 5 Years

It is not realistic for France to lower its deficit to 3% of GDP within three years but it could be possible within five years with the right course of action,…

Asharq Al Awsat (Paris)
Business FILE PHOTO: The PetroChina logo is seen near a car charging at the Chinese state oil giant's electric vehicle (EV) charging station in Beijing, China February 2, 2024. REUTERS/Florence Lo/File Photo

Oil Dips on Worries China Stimulus Plans Not Enough to Boost Demand

Oil prices fell on Wednesday as investors reassessed the ability of China's stimulus plans to boost the economy enough to drive more fuel demand growth in the…

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

Gold Touches Record High on Rate-cut Bets, Weaker US Dollar

Gold hit a record high on Wednesday, boosted by a softer US dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal…

Asharq Al Awsat
Business IMF: Saudi Non-Oil Growth Will Stay Strong

IMF: Saudi Non-Oil Growth Will Stay Strong

Amine Mati, head of the International Monetary Fund (IMF) mission to Saudi Arabia, stated that any decline in oil prices is unlikely to hinder the Kingdom’s…

Hala Saghbini (Riyadh)