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 signing of the geographical survey contracts for renewable energy projects in the presence of the Minister of Energy (Ministry of Energy website)

Saudi Arabia Launches Geographical Survey to Determine Renewable Energy Sites

Saudi Arabia launched a geographical survey project to determine renewable energy sites in the country. The project is the first of its kind in the world in…

Mosaed al-Zayani (Riyadh)
Business Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold Drifts Lower as Traders await US Inflation Data

Gold prices eased on Tuesday, while investors looked toward key US inflation data due later this week that could throw some light on the Federal Reserve's…

Asharq Al Awsat
Business The Skytrax Awards are seen as the top prize of the aviation industry and the most important global standard for excellence among airlines worldwide - SPA.

flynas Named 4th-Best Low-Cost Airline in the World, Best LCC in Middle East

flynas, the Saudi low-cost air carrier, in 2024 was named the fourth-best low-cost airline in the world for the second year in a row, and it kept its position…

Asharq Al Awsat
Business Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. REUTERS/Jason Lee/File Photo Purchase Licensing Rights

China Wants EU to Scrap EV Tariff Plans as Talks Start

Beijing wants the EU to scrap plans to impose preliminary tariffs on Chinese electric vehicle imports by July 4, China's state-controlled Global Times reported…

Asharq Al Awsat
Business There was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024 (File Photo AAWSAT)

Saudi Non-oil Exports Surge 12.4% to SR101.7 Billion in April

Saudi Arabia’s non-oil exports, including re-exports, recorded a jump of 12.4 percent, reaching SR101.7 billion in April 2024, compared to the same period in…

Asharq Al Awsat
Business Pipes at the landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke

Gaps in EU's Preparation for Potential Gas Crises

The European Union is insufficiently prepared to weather a future gas crisis despite introducing a raft of measures to end its dependence on Russian energy,…

Asharq Al Awsat
Business Participants in the Great Futures Initiative conference which was recently held in Riyadh (Asharq Al-Awsat)

Saudi, British Companies Seek to Explore Sustainable Partnerships

Several major national companies are participating in the UK-Saudi Sustainable Infrastructure Summit in London on June 24-26. According to information made…

Bandar al-Mosalam (Riyadh)
Business A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier

Oil Edges Higher as Demand Expectations Offset Dollar Strength

Oil prices firmed slightly on Monday as traders weighed support from expected summer demand and geopolitical tensions against a stronger dollar. Brent crude…

Asharq Al Awsat
Business The moon is seen after the day of Strawberry Moon over old houses in Cairo, Egypt, June 22, 2024. REUTERS/Amr Abdallah Dalsh

World Bank Announces $700 Mln in Financing for Egypt

The World Bank announced on Monday $700 million of budget support for Egypt, part of a 3-year, $6 billion program that the bank pledged earlier this year. …

Asharq Al Awsat (Washington)
Business Treasure Secretary Janet Yellen addresses the Economic Club of New York luncheon, Thursday, June 13, 2024, in New York (AP)

Biden Administration Proposes Rules to Curb Investments in China's AI, Tech Sector

The United States Treasury Department has fleshed out a proposed rule that would restrict and monitor US investments in China for artificial intelligence,…

Asharq Al Awsat (Washington)
Business A worker sets up decoration formed with umbrellas for an outdoor market along the Wangfujing mall street in Beijing, Wednesday, June 19, 2024. (AP)

China Says It Reserves Right to Take Measures Against US Planned Investment Curbs 

China is gravely concerned and firmly opposed to US proposed rules for curbing certain investments in China, and reserves the right to take corresponding…

Business German vice-chancellor and Economy Minister Robert Habeck during his visit to carmaker BMW's research and development center in Shanghai, China, on June 23. (Reuters) 

Germany Urges China to Find Alternative to Coal

German Economy Minister Robert Habeck said on Sunday that two Chinese officials he met in Beijing told him that China was expanding coal production for…

Asharq Al Awsat (Berlin)
Business Jeddah Islamic Port. Photo: Saudi Ports Authority website

Mawani, Reviva Sign Deal for Waste Recycling Complex in Jeddah

The Saudi Ports Authority (Mawani) and Global Environmental Management Services Ltd. (Reviva), a subsidiary of Saudi Investment Recycling Company (SIRC) Group,…

Asharq Al Awsat (Jeddah)
Business A Tesla sign is seen on the Shanghai Gigafactory of the US electric car maker before a delivery ceremony in Shanghai, China January 7, 2020. Reuters

Foreign Direct Investment in China Drops 28% in Five Months

Foreign direct investment (FDI) in China dropped 28.2% to reach 412.5 billion yuan (approximately $57.94 billion) during the first five months of 2024 from the…

Asharq Al Awsat (Beijing)
Business FDP Finance Minister Christian Lindner (L), Greens Economy Minister Robert Habeck (C) and Chancellor Olaf Scholz (R) of the SPD are locked in a budget dispute - AFP

Germany's Coalition in Impasse Over 2025 Budget

The three parties in the German government are locked in a bitter dispute over the 2025 budget, with experts warning the stalemate could be the final straw for…

Asharq Al Awsat
Business The increase in the deficit has long alarmed fiscal hawks - (File/AFP)

US Borrowing Binge Risks Market Strains

The US will be forced to fund a massive increase in its budget deficit with short-term debt, analysts have said, with consequences for money markets and the…

Asharq Al Awsat
Business German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights

German Economy Minister Says EU Open for Talks on China Tariffs

Germany's Economy Minister Robert Habeck said during his visit to China on Saturday that the European Union's door is open for discussions regarding EU tariffs…

Asharq Al Awsat
Business  People visit Ameya-Yokocho shopping street in the Ueno area of Tokyo on June 19, 2024. (AFP)

Japan's Demand-Led Inflation Slows, Clouds BOJ Rate Hike Path

Japan's core inflation accelerated in May due to energy levies but an index that strips away the effect of fuel slowed for the ninth straight month, data…

Business Public sector net debt, excluding state-controlled banks, reached 2.742 trillion pounds ($3.47 trillion) or 99.8% of annual gross domestic product in May. (Reuters)

UK Public Debt Rises to Highest Since 1961 Ahead of Election

British public debt rose last month to its highest as a share of the economy since 1961, data showed on Friday, adding to the financial challenges the next…

Business A worker assembles parts of a Tundra Truck at Toyota's truck plant in San Antonio, Texas, US, April 17, 2023. (Reuters)

US Business Activity Inches up in June; Price Pressures Abating

US business activity crept up to a 26-month high in June amid a rebound in employment, but price pressures subsided considerably, offering hope that a recent…

Business Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. (Reuters)

EU Tariffs on China Not a ‘Punishment’, Says German Economy Minister

Proposed European Union tariffs on Chinese goods are not a "punishment", Germany's Economy Minister Robert Habeck told Chinese officials in Beijing on Saturday…

Business General view of capital Manama, Bahrain, October 30, 2022. (Reuters)

Bahrain Draws Record FDI Inflow in 2023

Bahrain saw a surge in foreign direct investment (FDI) to a record $6.8 billion in 2023, up 148% from the previous year's figures, according to the latest…

Business A self-driving electric vehicle by Holon. (Holon)

European Commission Greenlights Saudi Investment in German Electric Vehicle Firm

The European Commission announced its approval of the acquisition and joint control of the German autonomous electric vehicle company Holon by Saudi Arabia’s…

Asharq Al Awsat (Frankfurt)
Business A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia Shares Rise on News of AI Factory for Elon Musk

Nvidia shares gained 3% before the bell on Thursday, set to extend the semiconductor bellwether’s lead as the world’s most valuable company, after partners…

Asharq Al Awsat