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 Alkhorayef is on an official visit to China as part of an economic tour in East Asia that included Singapore. (SPA)

Saudi Arabia, China Discuss Investment Opportunities in Lithium, Copper Production

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef discussed with Chinese mining companies on Friday boosting cooperation in the…

Business The Saudi Ports Authority (Mawani)

Mawani Reports Significant Cargo Growth at Saudi Ports in August

The Saudi Ports Authority (Mawani) has announced a substantial increase in cargo tonnage handled at its ports during August 2024. The total tonnage reached 30…

Asharq Al Awsat (Riyadh)
Business Truckers eat their lunch while blocking a street during a protest against the diesel price increase in Cali, Colombia, on September 5, 2024. (Photo by JOAQUIN SARMIENTO / AFP)

World Food Prices Ease Slightly in August

The United Nations' world food price index eased slightly in August, data released on Friday showed, as lower prices for sugar, meat and cereals more than…

Asharq Al Awsat
Business The Saudi Geological Survey is intensifying its work in research and exploration operations. (SGS)

Saudi Arabia Receives over 2,000 Applications for Mineral Resources Exploration Licenses

CEO of the Saudi Geological Survey (SGS) Engineer Abdullah Al-Shamrani announced that the Ministry of Industry and Mineral Resources is currently processing…

Saeed al-Abyad (Jeddah)
Business The Saudi Minister of Industry and Mineral Resources invited Chinese companies to invest in promising industrial sectors in Saudi Arabia. SPA

Al-Khorayef Invites Chinese Companies to Invest in Saudi Industries

Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef invited Chinese companies to invest in promising industrial sectors highlighted by…

Asharq Al Awsat (Guangzhou)
Business FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

OPEC+ Agrees to Delay October Oil Output Hike for 2 Months

OPEC+ has agreed to delay a planned oil output increase for October and November, the producers group said on Thursday after crude prices hit their lowest in…

Asharq Al Awsat (London)
Business A cargo ship boat model is pictured in front of the Maersk logo in this illustration taken March 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights

Maersk Says Impact from Red Sea Attacks Continues to Intensify

The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez…

Asharq Al Awsat
Business A general view of Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, August 28, 2024. REUTERS/Mohammed Al-Hadad

Oil Tanker Approved for Entry into Libya's Zueitina Port

Oil tanker Kriti Samaria has been approved for entry into Libya's Zueitina port on Thursday evening or Friday to load 600,000 barrels of crude oil and will…

Asharq Al Awsat
Business China's President Xi Jinping (C) delivers a speech during the opening of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) in the Great Hall of the People in Beijing, China, 05 September 2024. EPA/ANDRES MARTINEZ CASARES

China Offers Africa $51 Bln in Fresh Funding

President Xi Jinping pledged on Thursday to step up China's support to the world's fastest-growing continent with funding of nearly $51 billion, backing for…

Asharq Al Awsat (Beijing)
Business The 24 Fintech conference in Riyadh, Saudi Arabia (Photo by Turki al-Ogaili)

New $213 Million Venture Capital Fund Launches in Saudi Arabia

The full scale of Saudi Arabia’s potential as a global hub for financial technology came to the fore on day two of the first-ever 24 Fintech in Riyadh with the…

Ayat Nur (Riyadh)
Business Barclays and HSBC buildings are seen in London, Britain October 20, 2020. REUTERS/Matthew Childs

UK Banks Brace for Possible Tax Rise as Budget Nears

UK-based banks are stepping up lobbying efforts against possible tax hikes in the government's inaugural Budget on October 30, amid mounting worries it may tap…

Asharq Al Awsat (London)
Business A retail store advertising a full-time job on its open door in Oceanside, California, US, May 10, 2021. Photo by Mike Blake/REUTERS

US Job Openings Fall as Demand for Workers Weakens

America’s employers posted fewer job openings in July than they had the previous month, a sign that hiring could further cool in the coming months. The Labor…

Asharq Al Awsat (Washington)
Business Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef has visited the Guangzhou Economic & Technological Development District (GETDD) in China. SPA

Saudi Industry Minister Explores High-Tech Automotive and Smart Collaboration with Chinese Companies

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef has visited the Guangzhou Economic & Technological Development District (GETDD)…

Asharq Al Awsat (Guangzhou)
Business The MoU was signed on the sidelines of Fintech 24 conference in Riyadh. (SPA)

Saudi Arabia’s GOSI, IA Sign MoU to Boost Cooperation on Insurance Services

Saudi Arabia’s General Organization for Social Insurance (GOSI) signed on Wednesday a memorandum of understanding (MoU) with the Insurance Authority (IA) to…

Business A night view of Riyadh, Saudi Arabia. (Getty Images)

IMF: Financial, Regulatory Reform Agenda Contributed to Accelerating Growth of Saudi Economy

The International Monetary Fund (IMF) issued on Wednesday a favorable report on Saudi Arabia following the conclusion of the Article IV consultations with the…

Business A factory in Madinah. (SPA)

Saudi Arabia Launches Investment and Acquisition Facilitation Program to Provide Liquidity to Industrial Firms

The Saudi Ministry of Industry and Mineral Resources has launched the Investment Facilitation and Acquisition Program, which aims to offer diverse investment…

Asharq Al Awsat (Riyadh)
Business SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)

Saudi Petrochemical Companies Projected to Increase Profitability Over Next Two Quarters

Economic analysts predict that Saudi Arabia’s petrochemical companies will continue to post strong profits in their financial results for the next two quarters…

Mohammed al-Mutairi (Riyadh)
Business The PMI for Saudi Arabia rose from 54.4 in July to 54.8 in August. (SPA)

Employment Growth Drives Improvement in Saudi Private Sector in August

The strong growth in employment—at some of the highest rates in a decade—along with increased purchasing activity and rising inventory levels, boosted the…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting cooperation. (SPA)

Saudi Industry Minister Discusses in Singapore Partnerships in Advanced Manufacturing Technologies 

Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef held bilateral meetings with heads of Singaporean institutions to discuss boosting…

Business  President of the Saudi Capital Market Authority (CMA) Mohammed Al-Kuwaiz (Asharq Al-Awsat)

CMA Chief: Trading Based on Algorithms Represents 25% of Transactions in Saudi Capital Market

Mohammed Al-Kuwaiz, president of the Saudi Capital Market Authority (CMA), said that trading based on algorithms represents about 25% of the volume of…

Asharq Al Awsat (Riyadh)
Business Aramco's Executive Vice President for products and customers Yasser Mufti poses for a photograph during an interview with Reuters, in Milan, Italy August 31, 2024. (Reuters)

Saudi Aramco Does Not Plan to Increase Its Stake in Horse Powertrain 

Saudi Aramco does not plan to increase its 10% stake in fuel-based engines joint venture Horse Powertrain while it continues to pursue more deals to expand its…

Business Representation photo: A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil Extends Drop on Easing Libyan Dispute, Demand Concerns

Oil prices fell on Wednesday, extending a plunge of more than 4% the previous day, on expectations that a political dispute halting Libyan exports could be…

Asharq Al Awsat
Business Saudi Minister of Finance Mohammed Al-Jadaan speaks at the 24 Fintech financial technology conference in Riyadh on Tuesday. (SPA)

Saudi Finance Minister Inaugurates 24 Fintech Conference

Saudi Minister of Finance Mohammed Al-Jadaan inaugurated in Riyadh on Tuesday the first edition of the 24 Fintech financial technology conference. The…

Business Tourists check a souvenir stand while walking around the Grand-Place square, in central Brussels, Belgium, 31 August 2024. (EPA)

Travel Industry to Contribute Record $11 Trillion to Global GDP in 2024

A record $1 out of every $10 spent globally in 2024 will be on travel as people briskly book hotels, cruises and flights, according to an annual report by the…