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 An aerial view shows a motorway in Egypt's capital Cairo on September 9, 2024. (Photo by AFP)

Egypt Inflation Unexpectedly Quickens to 26.2% in August

Egypt's annual urban consumer price inflation rate unexpectedly accelerated to 26.2% in August from 25.7% in July, data from statistics agency CAPMAS showed on…

Asharq Al Awsat (Cairo)
Business A Saudi woman tries out one of the new technologies at the Global AI Summit in 2022. (SPA)

Global AI Summit Brings Together Experts, Decision-Makers in Riyadh

The Global AI (GAIN) Summit will kick off in Riyadh on Tuesday under the patronage of Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of…

Fatehelrahman Yousif (Riyadh)
Business A woman shops in a supermarket, Beijing, China, Sept. 9, 2024 (EPA)

China: Consumer Prices Rise in August, PPI Stuck in Deflation

China's consumer inflation accelerated in August to the fastest pace in half a year but the uptick was due more to higher food costs from weather disruptions…

Asharq Al Awsat (Beijing)
Business A customer uses an ATM at a Bank of America branch in Boston, Massachusetts, US, October 11, 2017. REUTERS/Brian Snyder

Bank of America Forecasts Three US Rate Cuts this Year

Bank of America, the most conservative among Wall Street's brokerages on the size of the Federal Reserve's expected interest rate cuts this year, has raised…

Asharq Al Awsat (New York)
Business Saudi Reef Launches Rural Tourism Business Incubators to Promote Entrepreneurship

Saudi Reef Launches Rural Tourism Business Incubators to Promote Entrepreneurship

The Sustainable Agricultural Rural Development Program (Saudi Reef) launched the "Rural Development" and "Rural Tourism" business incubators to foster…

Business QatarEnergy Orders Six More LNG Vessels from China State Shipbuilding

QatarEnergy Orders Six More LNG Vessels from China State Shipbuilding

QatarEnergy has signed a deal with China State Shipbuilding Corporation to buy six additional ultra-large ships to carry liquefied natural gas, it said on…

Asharq Al Awsat
Business Oil companies operating in Oman drilled many exploratory wells in various oil and gas concession areas, targeting different reservoirs at varying depths (Oman News Agency)

Oman State-run Oil Firm OQ will Make Initial Public Offering, Potentially Seek Billions

An Omani state-run oil and gas company announced Monday it will make an initial public offering of its exploration and production business, potentially seeking…

Asharq Al Awsat
Business Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters

Gold Eases on Firmer Dollar, All Eyes on US Inflation Print

Gold prices dipped on Monday as the dollar ticked higher, while investors looked towards this week's US inflation data to gauge the size of an expected…

Asharq Al Awsat
Business Italian former prime minister and economist Mario Draghi speaks during a press conference about the future of European competitiveness at the EU headquarters in Brussels on September 9, 2024. (Photo by Nicolas TUCAT / AFP)

Draghi Urges Reform, Investment Drive to Revive Lagging EU

The European Union needs far more coordinated industrial policy, more rapid decisions and massive investment if it wants to keep pace economically with rivals…

Asharq Al Awsat (Brussels)
Business Leftover textile materials are seen outside a shut-down textile factory at the organized industrial zone in Corum, Türkiye, August 23, 2024. (Reuters)

Turkish Firms Face Wave of Closures Amid Economic Reckoning 

It is hard for Dogan Duman to see how he can keep his garment factory in central Türkiye running much longer, even after firing a third of his staff to cut…

Business Data from the General Authority for Statistics (GASTAT) show a 0.3% contraction in real GDP in the second quarter (Asharq Al-Awsat)

Saudi Non-Oil Sector Grows 4.9% in Q2, Exceeding Estimates

Saudi Arabia's non-oil economy grew by 4.9% year-on-year in the second quarter of 2024, beating the July estimate of 4.4%. According to the General…

Asharq Al Awsat (Riyadh)
Business Emaar The Economic City is tasked with developing King Abdullah Economic City (official website)

Emaar The Economic City Restructures Finances

Saudi Arabia’s Emaar The Economic City has revealed a plan to restructure its finances to better support its growth goals, according to a statement on the…

Asharq Al Awsat (Riyadh)
Business Chairman of Saudi Arabia’s Capital Market Authority (CMA) Mohammed Al-Quwaiz takes part in the Debt Markets and Derivatives Forum 2024 in Riyadh. (Asharq Al-Awsat)

Saudi Debt Market Doubles to $213.3 Bn

Saudi Arabia’s debt market has doubled to nearly SAR 800 billion ($213.3 billion) by the end of last year, up from SAR 400 billion ($106.6 billion) in 2019,…

Business Inspired by the purity of the Red Sea, AMAALA is redefining the coastal lifestyle with spaces designed for deep connection to nature, to self, and to community. (SPA)

Significant Progress Announced in Development of Saudi AMAALA Luxury Tourism Destination

Saudi Arabia’s Red Sea Global (RSG), the developer behind the regenerative tourism destinations AMAALA and The Red Sea, said on Sunday it continues to make…

Business Fireworks light up the sky following the F1 Saudi Arabian Grand Prix in Jeddah in December 2021. (SPA file)

IMF Report: Saudi Arabia Surpasses Vision 2030 Tourism Target

The International Monetary Fund (IMF) has highlighted Saudi Arabia’s tourism sector as a major contributor to the country’s economic diversification in its…

Business Saudi Minister of Investment Khalid Al-Falih with officials from Italy’s Elettronica after signing the memorandum of understanding. (Asharq Al-Awsat)

Saudi Arabia, Italy Sign MoU to Boost Investment in Military Industries

The Saudi Ministry of Investment and General Authority for Military Industries (GAMI) signed a Memorandum of Understanding (MoU) with Italy’s leading defense…

Asharq Al Awsat (Como (Italy))
Business Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East.

Samer Al-Kharashi to Asharq Al-Awsat: Saudi Arabia Making Progress in Green Investments

Samer Al-Kharashi, Director of the United Nations World Tourism Organization (UNWTO) Regional Office for the Middle East, highlighted Saudi Arabia’s role in…

Bandar al-Mosalam (Riyadh)
Business A worker walks past parked Renault cars at its stockyard on the outskirts of the western Indian city of Ahmedabad June 11, 2013. (Reuters)

Europe’s Auto Industry Might Face €15 Billion in Fines Over Emissions

Renault chief Luca de Meo warned Saturday that European carmakers could face fines of 15 billion euros if they fail to respect EU emissions rules, calling for …

Asharq Al Awsat (Paris)
Business Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi meets with a delegation from Mubadala Energy led by CEO Mansoor Mohammed Al Hamed. (Asharq Al-Awsat)

Egypt Eager for New Investment Opportunities in Oil, Gas Sectors

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi said on Saturday that Emirati investments in the energy, petroleum, and gas sectors are a key…

Asharq Al Awsat (Cairo)
Business Alkhorayef underscored the Kingdom’s strategic advantages, which make it an attractive investment destination for leading global companies. (SPA)

Saudi Industry Minister Discusses Boosting Industrial Cooperation with Hong Kong Officials

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings on Saturday with officials in Hong Kong to boost cooperation…

Business A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)

DMDF 2024 Explores Dynamics of Saudi Financial Market

The Debt Markets and Financial Derivatives Forum (DMDF 2024), set to launch on Sunday in Riyadh, will focus on key principles aimed at exploring the dynamics…

Bandar al-Mosalam (Riyadh)
Business People pass by signage for the Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing, China, 01 September 2024. (EPA)

China Stops Short of Africa Debt Relief as Pledges More Cash

China stopped short of providing the debt relief sought by many African countries this week, but pledged 360 billion yuan ($50.7 billion) over three years in…

Asharq Al Awsat
Business FILE PHOTO: Egyptians walk in front of the central bank in central Cairo, Egypt, June 7, 2017. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt Seeks 20 LNG Cargoes for Winter

Egypt is seeking winter cargoes of liquefied natural gas for the first time in years, highlighting a deepening energy shortage, Bloomberg reported. State…

Asharq Al Awsat (Cairo)
Business The recognition celebrates the ministry's media campaign, which coincided with Saudi Arabia's achievement of welcoming over 100 million domestic and foreign tourists in 2023. (SPA)

Saudi Tourism Ministry Wins Best Integrated Communication System Award at SGCA 2024

The Saudi Ministry of Tourism, represented by the General Administration of Institutional Communication, won the Sharjah Government Communication Award (SGCA)…