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 farmer carries a box of mangoes in Ismailia, Egypt (Reuters)

Egypt’s Sovereign Wealth Fund CEO Resigns

The head of the Sovereign Fund of Egypt (TSFE), Ayman Soliman, has resigned, informed Egyptian sources revealed on Thursday. They said Soliman resigned last…

Asharq Al Awsat (Cairo)
Business File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif

Oil Prices Set to End Week Higher on US Demand Optimism

Oil prices were set for a second straight week of gains despite edging lower on Friday, as recent US economic data boosted optimism over demand in the world's…

Asharq Al Awsat
Business The Saudi capital, Riyadh (Asharq Al-Awsat)

Saudi Arabia’s Digital Experience Maturity Index Rise to 85%

The Digital Government Authority (DGA) announced the results of the Digital Experience Maturity Index 2024, where the index achieved a rate of (85.04%) at an …

Asharq Al Awsat (Riyadh)
Business  People look at the city's skyline from the Bunkyo Civic Center Observation Deck in Tokyo on August 14, 2024. (AFP)

Japan’s Economy Rebounds Strongly on Consumption Boost, Backs Case for More Rate Hikes

Japan's economy expanded by a much faster-than-expected annualized 3.1% in the second quarter, rebounding from a slump at the start of the year thanks to a…

Business The Iraqi Minister of Oil is seen at the signing ceremony of oil and gas development and exploration contracts. (Iraqi Ministry of Oil)

Iraq Signs Contracts to Develop 13 Exploration Blocks, Oil and Gas Fields

Iraq has signed initial deals for 13 oil and gas exploration blocks and fields, the country’s oil ministry said on Wednesday. The agreements could increase…

Business The headquarters of SAMA (Asharq Al-Awsat)

SAMA’s Reserve Assets Rise to $467.7 Billion

The Saudi Central Bank (SAMA) reported an annual growth rate of 5.5 percent in its reserve assets, with an increase of approximately SAR 92.049 billion ($24.5…

Asharq Al Awsat (Riyadh)
Business Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif

Oil Prices Up on Hopes of US Rate Cuts Boosting Fuel Demand

Oil prices rose on Thursday, supported by optimism potential US interest rate cuts will boost economic activity and fuel consumption though concerns over…

Asharq Al Awsat
Business India’s Ambassador to Saudi Arabia Dr. Suhel Ajaz Khan. (Asharq Al-Awsat)

Saudi Arabia, India Seek Comprehensive Economic Integration in the Next Six Months

India’s Ambassador to Saudi Arabia Dr. Suhel Ajaz Khan expected the launch of new partnerships with the Kingdom in the coming six months to bolster cooperation…

Fatehelrahman Yousif (Riyadh)
Business Restaurants in the Riyadh City Boulevard. (Asharq Al-Awsat)

Saudi Arabia’s Restaurant Sector Growth Attracts Global Investment

The strength of consumer demand in Saudi Arabia’s food and beverage sector makes it an appealing market for international brands. The development of…

Bandar al-Mosalam (Riyadh)
Business An investor watches a screen displaying stock information on the Saudi Stock Market (Tadawul) in Riyadh. (Reuters)

Gulf Markets See Mixed Gains as Investors Await US Inflation Data

As the world anticipates crucial economic data - specifically US consumer prices - most Gulf markets posted mixed gains at the start of this week. This…

Asharq Al Awsat (Riyadh)
Business SIRC’s headquarters in Saudi Arabia (company website)

Saudi PIF-Owned SIRC Starts Export of Recycled PET Flakes to UK

The Saudi Investment Recycling Company, SIRC, said on Tuesday it successfully completed its first export of recycled and heat-washed PET flakes through its…

Asharq Al Awsat (Riyadh)
Business Children play underneath a sprinkler at Parliament Square in London, Britain, August 13, 2024. REUTERS/Hollie Adams

UK Inflation Rises Less Than Expected in July

British consumer price inflation rose to 2.2% after two months at the Bank of England's 2% target, a slightly smaller increase than economists expected, and…

Asharq Al Awsat (London)
Business  Traffic jam on a street in Riyadh (Asharq Al-Awsat)

S&P Global: Saudi Arabia’s Insurance Market Is a Major Driver of Revenue Growth in Gulf Region

Islamic and Takaful insurance companies in the Gulf Cooperation Council region continue to benefit from favorable growth prospects, mainly driven by high…

Asharq Al Awsat (Dubai )
Business  The Sudair solar power project. Photo: PIF

China Energy Engineering Signs Solar Deal with Saudi Partners

China Energy Engineering signed a 6.98 billion yuan ($972 million) contract to build a solar power plant in Saudi Arabia, a filing with the Shanghai Stock…

Asharq Al Awsat (Beijing)
Business An oil rig is seen on Lake Maracaibo, in Cabimas, Venezuela October 14, 2022. REUTERS/Issac Urrutia/File Photo Purchase Licensing Rights

Oil Strengthens as Fall Estimated in US Crude Inventories

Oil prices climbed on Wednesday on estimates about shrinking US crude and gasoline inventories as the market watched for a possible widening of the Middle…

Asharq Al Awsat
Business One of AMAC’s mining projects (The company’s website)

AMAK Obtains Quartz Exploration License in Saudi Arabia

Almasane Alkobra Mining Co. (AMAK) has won a quartz exploration license from the Ministry of Industry and Mineral Resources, covering 90.15 square kilometers…

Asharq Al Awsat (Riyadh)
Business The Line project in NEOM (SPA)

Saudi Arabia Opens Door for Foreign Investors to Explore Emerging Opportunities

The Saudi Cabinet approved on Sunday an updated investment law, with the aim of attracting foreign investors, develop the competitiveness of its investment…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A view of the newly-commissioned Dangote petroleum refinery is pictured in Ibeju-Lekki, Lagos, Nigeria May 22, 2023. REUTERS/Temilade Adelaja/File Photo

Oil Prices Steady as Markets Refocus on Demand Concerns

Oil prices steadied on Tuesday after rising for five consecutive sessions, as markets refocused on concerns about demand after OPEC on Monday cut its forecast…

Asharq Al Awsat
Business A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/ File Photo Purchase Licensing Rights

OPEC Cuts Oil Demand Growth Forecast, Highlighting Dilemma over Oct Hike

OPEC on Monday cut its forecast for global oil demand growth in 2024 citing softer expectations for China, a reduction that highlights the dilemma faced by…

Asharq Al Awsat
Business Euro and Dollar banknotes and words "Sanctions" are placed on Russian flag in this illustration taken, May 16, 2024. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights

Billions in Dollar and Euro Notes Reach Russia despite Sanctions

Around $2.3 billion in dollar and euro bills have been shipped to Russia since the United States and EU banned the export of their banknotes there in March…

Asharq Al Awsat
Business The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo Purchase Licensing Rights

Fitch Cuts Israel's Credit Rating amid Rising Middle East Tensions

Credit ratings agency Fitch downgraded Israel's credit rating to "A" from "A-plus" on Monday, citing worsening geopolitical risks as the war in Gaza drags on,…

Asharq Al Awsat
Business An Israeli shekel note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration/File Photo

Israel Shekel Slips vs Dollar on Iran, Hezbollah Attack Concerns

Israel's shekel slipped as much as 1.5% against the dollar and Tel Aviv stocks shed more than 1% on Monday, with investors becoming increasingly worried over a…

Asharq Al Awsat
Business A person passes by a gold shop in Ankara, Türkiye May 29, 2023. REUTERS/Yves Herman/File Photo Purchase Licensing Rights

Turkish Gold Demand Lifts Italian Jewellery Exports as Leather Goods Suffer

A surge in demand for gold from inflation-stricken Türkiye boosted exports of jewellery from Italy's industrial district of Arezzo in Tuscany, data showed on…

Asharq Al Awsat
Business File photo of Saudi flag/Asharq Al-Awsat

Saudi Ministry of Industry and Mineral Resources Eyes to Boost Non-profit Sector's Contribution to Mining

The Saudi Ministry of Industry and Mineral Resources is creating with new initiatives to empower the non-profit sector and boost its contribution to the…

Asharq Al Awsat