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 A tanker is seen in Yemeni waters: Photo: Maritime services provider Boskalis

Bahri: Saudi Oil Tanker Amjad Was Not Targeted in Red Sea

Saudi shipping firm Bahri said on Tuesday its tanker Amjad was not targeted in a Red Sea attack, and that it had been spared any damage from the incident that…

Asharq Al Awsat (Riyadh)
Business The King Abdullah Financial District in Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Saudi Arabia Targets Bureaucracy to Attract Foreign Investment

Saudi Arabia is making serious efforts to cut through the red tape that blocks foreign investment by continually updating its regulations. The Saudi Ministry…

Asharq Al Awsat (Riyadh)
Business The agreement was signed in the presence of Saudi Minister of Tourism Ahmed Al-Khateeb. (Photo: Turki Al-Aqili)

Saudi-British Air Connectivity Expands with New Virgin Airlines Route

Saudi Arabia and the United Kingdom are set to launch a direct route connecting Riyadh and London, following the signing of a cooperation agreement between the…

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

Gold Eases as Traders Wait for US Economic Data

Gold prices eased on Tuesday, while investors awaited a slew of US economic data to gauge the size of the Federal Reserve's expected interest rate cut this…

Asharq Al Awsat
Business FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)

Oil Prices Fall as Demand Concerns Overshadow Libyan Export Halt

Brent oil prices fell on Tuesday as sluggish economic growth in China, the world's biggest crude importer, increased worries about demand that overshadowed the…

Asharq Al Awsat
Business FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo

Tesla's China Sales Have Best Month of the Year in August

Tesla's sales in China logged their best month for the year so far in August, with the US electric vehicle maker benefiting from brisk sales in smaller cities…

Asharq Al Awsat
Business Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)

Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp, a leading global alternative investment firm, announced on Monday a major change in its executive leadership team, saying that co-CEO…

Asharq Al Awsat (Manama)
Business Riyadh's Global AI Summit Explores Human-AI Interaction

Riyadh's Global AI Summit Explores Human-AI Interaction

The third edition of the Global AI Summit, organized by the Saudi Data and AI Authority (SDAIA) in Riyadh, will review the international interest in data and…

Asharq Al Awsat (Riyadh)
Business A view shows Sharara oil field near Ubari, Libya, July 6, 2017. Picture taken July 6, 2017. (Reuters)

Libya's NOC Declares Force Majeure on El Feel Oil Field from Sept. 2

Libya's National Oil Corp. (NOC) declared force majeure on El Feel oil field from Sept. 2, it said in a statement on Monday. The field, which has a capacity…

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

Oil Exports Remain Halted at Major Libyan Ports, Say Engineers

Oil exports at major Libyan ports were still halted on Monday and production curtailed across the country, though some output was being increased to feed local…

Asharq Al Awsat
Business FILE PHOTO-Alkan shoe sole manufacturer workers work in the factory at Antakya Organize Sanayi Bolgesi industrial complex in Belen, Hatay province, March 7, 2023. REUTERS/Susana Vera Purchase Licensing Rights

PMI Says Turkish Manufacturing Activity Contracts in August

Turkish factory activity contracted for the fifth month in a row in August as a slowdown in demand caused firms to scale back output, employment and…

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

Oil Extends Losses on Weak China Data, Expected OPEC+ Supply Boost

Oil prices slipped on Monday, extending losses from the end of last week on expectations of higher OPEC+ production from October while signs of sluggish demand…

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/Arnd Wiegmann/File Photo

Gold Dips to One-week Low as US Jobs Data Awaited

Gold prices fell to their lowest in more than a week on Monday as the US dollar firmed, while market focus shifted to a series of economic data due this week…

Asharq Al Awsat
Business The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle

Türkiye's Botas Buying 4 bcm of LNG from Shell in 10-year Deal

Turkish state energy company Botas and British oil major Shell signed a 10-year LNG agreement on Monday, the Turkish Energy Minister Alparslan Bayraktar said. …

Asharq Al Awsat
Business A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)

Africa Faces Steep Costs as Temperatures Soar, Says WMO 

Africa faces an increasingly heavy toll from climate change with many countries having to spend up to 9% of their budgets battling climate extremes, a World…

Business A factory in al-Dammam produces various medical supplies, including face masks. (SPA)

Saudi Arabia Pushes to Boost Pharma Industry, Achieve Self-Sufficiency

Saudi Arabia is working to boost its pharmaceutical and medical equipment industries by localizing production, increasing their GDP contribution, and reducing…

Ayat Nur (Riyadh)
Business The new framework will be effective January 1, 2025 and will target MNEs operating in the country with global revenues exceeding 750 million euros. (BNA) 

Bahrain to Impose 15% Tax on Multinational Enterprises

The National Bureau for Revenue (NBR) in Bahrain said on Sunday it will impose a Domestic Minimum Top-up Tax (DMTT) on multinational enterprises (MNEs)…

Asharq Al Awsat (Manama)
Business A general view of Doha, Qatar. (QNA)

Qatar Issues New Law to Nationalize Jobs in Private Sector

Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani issued on Sunday a new law to nationalize jobs in the private sector. The law will be effective six months…

Asharq Al Awsat (Doha)
Business Officials at the contract signing ceremony (Oman News Agency)

Oman Expands Oil, Gas Exploration by Signing New Concession Agreement

The Omani Ministry of Energy and Minerals on Sunday signed an agreement with Daleel Petroleum Company (the operator) to explore and develop Concession Area No…

Asharq Al Awsat
Business QatarEnergy CEO Saad Al-Kaabi speaks at the press conference on Sunday. (QatarEnergy)

QatarEnergy to Double Annual Urea Production 

State-owned QatarEnergy will boost its production of urea to more than 12.4 million tons annually from 6 million tons currently, its CEO said in a press…

Business The pavilion of Tamara Company, which provides “Buy Now, Pay Later” service in Saudi Arabia and the Gulf, at the Leap24 exhibition in Riyadh. (X platform)

FinTech Invades Phones ... from Quick Payment to Investing Money

It’s hard to find a device owned by someone from Generation Z that doesn’t feature financial technology (FinTech) applications. These apps aim to speed up…

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

African Leaders in Beijing Eyeing Big Loans and Investment

African leaders descend on China's capital this week, seeking funds for big-ticket infrastructure projects as they eye mounting great power competition over…

Business FILE PHOTO: A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, in Hangzhou, Zhejiang province, China March 2, 2020. China Daily via REUTERS/File Photo

China's August Manufacturing Slips to 6-Month Low

China's manufacturing slowed to a six-month low in August, an official factory survey showed on Saturday, raising expectations policymakers will unveil fresh…

Asharq Al Awsat
Business Iraqi flag in front of an oil field (AFP)

Iraq Seeks US Investment in Gas as New Projects Target Energy Independence

Iraq plans to offer 10 gas exploration blocks to US companies during an upcoming visit by Oil Minister Hayan Abdel-Ghani to the United States, he announced on…

Asharq Al Awsat