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 The  transaction represents the first co-investment transaction between ACWA Power and China Southern Power Grid for a large-scale renewable energy project in Central Asia.  - SPA

ACWA Power Signs Sale Deal with Chinese Company on Renewable Energy Project

Saudi-listed ACWA Power, the world's largest private water desalination company, announced in a press release on Wednesday the completion of a Sale and…

Asharq Al Awsat
Business A supermarket in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Has Most Stable Inflation Rate Compared to G20 Countries

Saudi Arabia has managed to control inflation in recent months, recording 1.5 percent in June, on an annual basis. This shows that the Kingdom is one of the…

Bandar al-Mosalam (Riyadh)
Business Prince Mohammed bin Salman chairs the Cabinet session in Jeddah (SPA)

Saudi National Program to Drive Growth of Mineral Sector

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said that the National Minerals Program will be a strong and supportive tool to enhance the…

Asharq Al Awsat (Riyadh)
Business International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, US, October 9, 2016. REUTERS/Yuri Gripas

IMF Sees Modest Global Growth Over Next 2 Years

The global economy is set for modest growth over the next two years amid cooling activity in the US, a bottoming-out in Europe and stronger consumption and…

Asharq Al Awsat (Washington)
Business Photo of a project implemented by Sungrow Power Supply. Photo: company website

Chinese Company Signs Deal for Energy Storage Project in Saudi Arabia

China's photovoltaic inverter manufacturer Sungrow Power Supply said on Tuesday it has signed an agreement with Saudi Arabia's Algihaz Holding for an energy…

Asharq Al Awsat (Riyadh)
Business A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold Hits Record High on US Rate Cut Bets

Gold prices scaled an all-time high on Wednesday, with recent comments from Federal Reserve officials boosting bets of a US interest rate cut in September. …

Asharq Al Awsat
Business Saudi Minister of Economy and Planning Faisal Al-Ibrahim during the High-Level Political Forum for Sustainable Development 2024 in New York (AAWSAT)

Saudi Arabia to Invest $180 bl to Develop Green Economy

Saudi Minister of Economy and Planning Faisal Al-Ibrahim said that Saudi Arabia plays a pivotal role in achieving global climate-related goals, with more than…

Asharq Al Awsat
Business US and Saudi national flags fly over a main road in Riyadh in 2017. (AFP file photo)

Riyadh, Washington Bolster Strategic Space Partnership

The Saudi Space Agency said that Saudi Arabia and the United States signed on Tuesday a strategic cooperation agreement focused on the exploration and peaceful…

Asharq Al Awsat
Business Saudi Aramco signed an agreements to acquire an equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), a wholly owned subsidiary of Air Products Qudra (APQ). (SPA)

Saudi Aramco Acquires 50% Stake in BHIG Hydrogen Company

Saudi Aramco, a global integrated energy and chemicals company, signed on Tuesday definitive agreements to acquire an equity interest in the Jubail-based Blue…

Business The agreements are the result of the ongoing cooperation between the Ministry and PIF to localize renewable energy components and achieve the goals of Saudi Vision 2030. (SPA)

Saudi Energy Ministry, PIF Launch 3 Joint Projects on Localization of Renewable Energy Components

Saudi Arabia’s Ministry of Energy, in collaboration with the Public Investment Fund, participated on Tuesday in the signing of three new agreements to boost…

Business flynas took delivery of the 53rd new aircraft out of its order for 120 A320neo aircraft from Airbus. (SPA)

flynas Receives its 53rd of 120 Airplanes in Airbus Order

flynas, a Saudi air carrier and the leading low-cost airline in the Middle East and the world, took delivery of the 53rd new aircraft out of its order for 120…

Business The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, US, November 22, 2019. REUTERS/Angus Mordant

Oil Falls on Lingering Demand Concerns in China

Oil prices declined more than 1% on Tuesday on worries of a slowing Chinese economy crimping demand and despite a growing consensus the US Federal Reserve…

Asharq Al Awsat
Business Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)

Ballard Partners Seeks to Open Office in Saudi Arabia

Ballard Partners, the American Government Relations Company, announced its intention to open its first office in Riyadh. The US company’s move comes after the…

Fatehelrahman Yousif (Riyadh)
Business Eng. Anas Al-Mudaifer, CEO of the Human Capability Development Program, speaks during the ceremony (Photo by: Turki Al-Agili)

Saudi Arabia Seeks to Improve Human Resources to Face Changes in Global Labor Markets

The CEO of the Human Capability Development Program, Eng. Anas Al-Mudaifer, pointed to ongoing efforts to enhance the competitiveness of Saudis to keep pace…

Asharq Al Awsat (Riyadh)
Business NEOM Green Hydrogen has recently announced the delivery of the first batch of turbines for the new plant (Asharq Al-Awsat)

Saudi Arabia Aims to Develop New Plant to Localize Wind Energy

The Saudi Public Investment Fund (PIF) and China’s second-largest wind turbine manufacturer are close to a deal to develop a new plant in the Kingdom to help…

Asharq Al Awsat (Riyadh)
Business A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold Drifts Higher as US Rate Cut Optimism Boosts Appeal

Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited…

Asharq Al Awsat
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Holds its Ground as Chinese Demand Concerns Weigh

Oil held its ground on Monday as downward pressure from concern about demand in top importer China offset support from strong demand elsewhere, OPEC+ supply…

Asharq Al Awsat
Business A participant holds a French flag during an election night rally following the first results of the second round of France's legislative election at Place de la Republique in Paris on July 7, 2024. (AFP)

France 'Dangerously Exposed' in Case of Economic Shock, National Audit Office Says

France's public finances and its rising deficit are worrying and leave the country "dangerously exposed" in the event of a new, macroeconomic shock, the…

Asharq Al Awsat
Business FILED - 22 May 2023, Berlin: A Bitcoin coin lies on a screen showing the Bitcoin - US dollar exchange rate. Photo: Fernando Gutierrez-Juarez/dpa

Dollar Rises with Crypto as Markets Turn in Favor of a Trump Victory

The dollar rose broadly on Monday and cryptocurrencies jumped as trades for a victory by Donald Trump in the upcoming US elections gathered steam in the wake…

Asharq Al Awsat
Business Saudi Central Bank (Asharq Al-Awsat)

Saudi Central Bank Launches Gov’t Banking Services Platform ‘Naqd’

The Saudi Central Bank (SAMA) introduced “Naqd,” a government banking services platform that enables government agencies to conveniently access their accounts…

Asharq Al Awsat (Riyadh)
Business FlyNow Aviation’s eCopter (Asharq Al-Awsat)

Thousands of Electric Aircraft Ready for Riyadh Expo 2030

FlyNow Aviation, an urban air mobility startup from Austria, is gearing up to provide thousands of electric helicopters to enhance mobility and sustainability…

Asharq Al Awsat (Riyadh)
Business Egyptian Petroleum and Mineral Resources Minister Karim Badawi attends a meeting with a parliamentary committee reviewing the new government's program (Asharq Al-Awsat)

Egypt Considering Adding New Regasification Vessel in Ain Sokhna

Egypt is considering adding a new Floating Storage Regasification Unit (FSRU) to its port facilities at Ain Sokhna to increase import capacity, according to a…

Asharq Al Awsat
Business A general view of the Shuaiba oil refinery south of Kuwait City on April 16, 2016. (AFP)

Kuwait Announces 'Giant' Oil Discovery

Kuwait Petroleum Corporation (KPC) said on Sunday it had made a "giant" oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil…

Asharq Al Awsat
Business The forum included several visual presentations showcasing key projects of the Saudi Vision 2030, the land bridge project in Thailand, and the role of relevant institutions from both countries in enabling the private sector to access investment opportunities - SPA

Saudi-Thai Investment Forum Reveals Opening of Thailand BOI Office in Riyadh

The Saudi Ministry of Investment, in collaboration with the Thailand Board of Investment (BOI) and the Embassy of Thailand in Saudi Arabia, organized on Sunday…

Asharq Al Awsat