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 view shows gas wells at Bovanenkovo gas field owned by Gazprom on the Arctic Yamal peninsula, Russia. (File photo: Reuters)

Report: Russia Overtook US as Gas Supplier to Europe in May

Europe’s gas imports from Russia overtook supplies from the US for the first time in almost two years in May, despite the region’s efforts to wean itself off…

Asharq Al Awsat (Moscow)
Business Pieces of gold are seen in a mining area in the Madre de Dios department, in Peru's southeastern Amazon region, on May 30, 2024. (Photo by Ernesto BENAVIDES / AFP)

Gold Subdued as Investors Await Further Data for Fed Rate Cues

Gold prices eased on Monday as investors await further US economic data, while reports from last week showed that inflation was stabilizing, lifting…

Asharq Al Awsat
Business The Jadar site in the west of Serbia. Photo: Rio Tinto website

Serbia to Give Green Light for Rio Tinto Lithium Mine

Serbian President Aleksandar Vucic is preparing to give Rio Tinto the green light to develop Europe's largest lithium mine two years after Belgrade called off…

Asharq Al Awsat (Belgrade)
Business The Saudi flag. Asharq Al-Awsat photo

Saudi Mining Minister to Visit Chile, Lithium Expected on Agenda

Chile's government has said that Saudi Arabia's mining minister will travel to the Latin American country in July and plans to meet with his counterpart in…

Asharq Al Awsat (Riyadh)
Business A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, US, March 17, 2023. REUTERS/Bing Guan/File Photo

Oil Prices Fall on Weaker US Consumer Demand, China Data

Oil prices slipped in Asian trading on Monday after a survey on Friday showed weaker US consumer demand and as May crude production rose in China, the world's…

Asharq Al Awsat
Business Palestinians queue to withdraw money from an ATM in the main market in Ramallah city in the Israel-occupied West Bank on June 9, 2024.

Israel’s ‘Economic War’ Chokes Occupied West Bank

Palestinian teenagers bounced on trampolines and jumped through hoops inside a towering tent on the outskirts of Ramallah, the financial hub of the occupied…

Business Efforts to diversify the economy have started to bear fruit: IMF (Asharq Al-Awsat)

IMF Praises Saudi Arabia’s Unprecedented Economic Transformation

The International Monetary Fund (IMF) has praised Saudi Arabia’s significant economic changes under the “Vision 2030” national transformation plan, noting…

Asharq Al Awsat (Washington) Asharq Al Awsat (Riyadh)
Business Argentina's president Javier Milei has vowed to get inflation back down - AFP

IMF Board Approves Argentina Payout of Almost $800 Mn

The IMF executive board voted to approve a payout of almost $800 million for Argentina as it continues a program of drastic economic reforms under its…

Asharq Al Awsat
Business The words "Welcome to Berlin" can be read shortly before sunrise on a display in the fan zone (Platz der Republik) against the backdrop of the Reichstag and the TV tower in Berlin on Friday, June 14, 2024. (dpa/AP)

Euro 2024 Tourism to Bring 1$ Billion to Germany, Study Shows 

Germany, the host of Euro 2024, can expect a 1 billion euro ($1.07 billion) boost to its economy thanks to foreign tourists traveling to the country for the…

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 Eyes First Weekly Gain in Four on Cooling US Inflation

Gold prices rose on Friday and were on course for their first weekly gain in four, as US economic data indicated a softening of price pressures, fuelling…

Asharq Al Awsat
Business An aerial view of Tokyo, Japan. (Reuters)

Bank of Japan to Trim Bond Buying, Keeps Rates Steady

The Bank of Japan said on Friday it would start trimming its huge bond purchases and announce a detailed plan next month on reducing its nearly $5 trillion…

Asharq Al Awsat
Business FILE PHOTO: Petrochemical storage tanks are seen at the Suncor Energy chemical plant near Edmonton, Alberta, Canada, October 7, 2021.  REUTERS/Todd Korol/File Photo

Oil Prices Set for Best Week in Over 2 Months on Solid Demand Outlook

Oil prices eased on Friday as markets evaluated the impact of US interest rates staying higher for longer than anticipated, but crude benchmarks headed for…

Asharq Al Awsat
Business Members of the honor guard stand at attention during a flag-raising in place of Kasba in Tunis, Tunisia, June 26, 2018. REUTERS/Zoubeir Souissi

Tunisia to Receive 450 Million Euros in European Loans, Grants

The European Investment Bank on Tuesday announced grants and loans worth 450 million euros ($480 million) for crisis-hit Tunisia to support small and medium…

Asharq Al Awsat
Business At the signing ceremony, from left: NextDecade Chairman and Chief Executive Officer Matthew Schatzman, Aramco Upstream President Nasir K. Al-Naimi, and Aramco Executive Vice President of Gas Abdulkarim Al-Ghamdi. Photo: Aramco website

Saudi Aramco, NextDecade Sign 20-year LNG Supply Deal

Saudi Aramco and US liquefied natural gas (LNG) provider NextDecade announced on Thursday that their respective subsidiaries have executed a non-binding Heads…

Asharq Al Awsat (Dhahran)
Business OPEC Secretary-General Hathaim Al Ghais. Photo: OPEC account on X

Al Ghais: OPEC Sees No Peak in Oil Demand in Long Term Forecast

OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the…

Asharq Al Awsat (Vienna)
Business FILE - A resident of a riverside community carries food and containers of drinking water after being distributed due to the ongoing drought in Careiro da Varzea, Amazonas state, Brazil, Oct. 24, 2023. (AP Photo /Edmar Barros, File)

World Bank to Issue $200 Million Bond to Boost Amazon Reforestation

The World Bank will issue a new bond expected to raise some $200 million to support reforestation efforts in Brazil's Amazon rainforest, it said on Thursday,…

Asharq Al Awsat
Business A general view of Abu Dhabi, UAE. (WAM)

UAE Economy to Grow 3.9% in 2024, Central Bank Projects

The United Arab Emirates' economy grew 3.6% in 2023, the Gulf state's central bank said in its annual report on Thursday, and projected overall output growth…

Asharq Al Awsat
Business Brazil’s President Luiz Inácio Lula da Silva at the FII Priority Summit in Rio de Janeiro (FII Institute)

President Lula Urges Recognition of Brazil, Saudi Arabia’s Growing Economic Influence

Brazil’s President Luiz Inácio Lula da Silva has stressed the importance of including emerging nations in global economic discourse, highlighting the rising…

Asharq Al Awsat (Rio de Janeiro)
Business (FILES) This photo taken on September 11, 2023, shows BYD electric cars awaiting to be loaded onto a ship at the international container terminal of Taicang Port at Suzhou Port, in China eastern Jiangsu Province. (Photo by AFP)

EU Hits Chinese EVs With Extra Duties of Up to 38.1%

The European Commission said it will impose extra duties of up to 38.1% on imported Chinese electric cars from July, risking retaliation from Beijing which…

Asharq Al Awsat (Brussels ) Asharq Al Awsat (Beijing)
Business FILE PHOTO: Petrochemical storage tanks are seen at the Suncor Energy chemical plant near Edmonton, Alberta, Canada, October 7, 2021.  REUTERS/Todd Korol/File Photo

Oil Slips on US Growth Worries, Ample Crude Supply

Oil prices fell in early trade on Thursday, as investors digested that the US Federal Reserve had likely pushed back a possible interest rate cut to December,…

Asharq Al Awsat
Business Palestinian boys play football surrounded by the rubble of buildings destroyed during previous Israeli bombardment, in Gaza City on June 10, 2024, amid the ongoing conflict between Israel and Hamas (AFP)

World Bank Downgrades Middle East Growth Forecast for 2024 to 2.8%

The global economy is expected to stabilize for the first time in three years in 2024 but at a level that is weak by recent historical standards, according to…

Asharq Al Awsat (Washington)
Business Hapag-Lloyd sign on a container ship is pictured at the Valparaiso port, Chile, January 11, 2024. Reuters

Hapag-Lloyd Sees No Suez Passage Anytime Soon

German shipping company Hapag-Lloyd does not anticipate the shipping industry to resume sailing through the Suez Canal anytime soon, even if a ceasefire…

Asharq Al Awsat (Berlin)
Business A laborer marks steel bars at a steel and iron factory in Changzhi, north China's Shanxi province January 11, 2007. REUTERS/Stringer/Files Purchase Licensing Rights

China's Strong Iron Ore Imports Contrast with Weak Steel Output

The strength in China's iron ore imports this year stands in stark contrast to the weakness in steel production and demand, setting up a dilemma as to how the…

Asharq Al Awsat
Business Minister of Petroleum and Natural Gas of India Hardeep Singh Puri speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. REUTERS/Denis Balibouse/File Photo Purchase Licensing Rights

India Eyes Oil Deals with Nations Including Russia

Indian Oil Minister Hardeep Singh Puri on Tuesday announced that state-run Bharat Petroleum Corp (BPCL.NS), plans to build a new refinery and the nation is…

Asharq Al Awsat