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…

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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  This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)

Saudi Aramco Completes Secondary Public Offering of Common Stock

The Saudi Arabian Oil Company (Saudi Aramco) announced on Tuesday the completion of the secondary public offering of common shares in the company. Aramco…

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Business Saudi Arabia's ACWA Power to Raise Capital by $1.9 Billion

Saudi Arabia's ACWA Power to Raise Capital by $1.9 Billion

ACWA Power is set to increase its capital by SR7.13 billion ($1.89 billion) as part of its strategy to triple assets under management by 2030. This move,…

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Business A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

OPEC Sticks to 2024 Oil Demand Growth Forecast but Trims Q1 View

OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower-than-expected use in the first quarter, saying…

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Business Discussions focused on analyzing international tourism trends, implementing the general work program and regulatory reforms, discussing financial growth strategies - SPA

Tourism Minister Chairs 121st UNWTO Executive Council Meeting in Barcelona

Saudi Minister of Tourism and Chairman of the Executive Council of the United Nations World Tourism Organization (UNWTO) Ahmed bin Aqeel Al-Khateeb chaired the…

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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 Edges up as Investors Eye Fed Outlook, US Inflation Data

Gold prices edged up on Tuesday despite a higher dollar as investors awaited key US inflation data and the conclusion of the US Federal Reserve's two-day…

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Business The Iranian flag is pictured in front of Iran's Foreign Ministry building in Tehran November 23, 2009. (Reuters)

Kremlin Says Russia and Iran Continuing Work on Cooperation Pact, Schedule May Shift 

Moscow and Tehran are continuing their work on a comprehensive bilateral cooperation agreement, although the schedule of specific events may shift, Kremlin…

Business Activists and demonstrators take part in an “antifascist rally" following the European election results, in Toulouse, France, on June 10, 2024. (AFP)

Moody’s Issues France Credit Rating Warning Over Snap Elections 

France's snap parliamentary elections are negative for the country's credit score, ratings agency Moody's has warned. "This snap election increases risks to…

Business The move stems from the keenness on ensuring the safety and health of private sector workers. (SPA)

Saudi Bans Working Under Peak Sun Hours Starting Saturday 

Saudi Arabia will enforce on Saturday a ban on outdoor work during peak sun hours. Work will be prohibited between 12 and 3 pm starting June 15 and until…

Business Islamic Development Bank (IsDB) Group President Dr. Mohammad Al-Jasser and Tajik Minister of Finance Fayzuddin Qahrizoda sign the agreement on Monday. (SPA)

IsDB Signs Agreement Worth $150 Million for Rogun Hydroelectric Power Station in Tajikistan

Islamic Development Bank (IsDB) Group President Dr. Mohammad Al-Jasser and Tajik Minister of Finance Fayzuddin Qahrizoda signed on Monday a financing agreement…

Business SAMA: Total Assets of Saudi Finance Companies Sector Grows by 13% in 2023

SAMA: Total Assets of Saudi Finance Companies Sector Grows by 13% in 2023

The Saudi Central Bank (SAMA) released on Monday the Annual Performance Report of the Saudi Finance and Real Estate Refinance Companies Sector for the year…

Business A view of cargo and tankers ships sailing in the Strait of Gibraltar, located between the Musa mountain of Morocco and the coast of Spain, pictured from a tourist lookout in Tarifa, southern Spain, June 4, 2024. REUTERS/Jon Nazca

Morocco's Tanger Med Port Expects to Exceed Nominal Container Capacity

Morocco's Tanger Med port expects to top its nominal processing capacity of nine million containers this year, the port's deputy managing director told Reuters…

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Business A voter stands in a polling booth during the European Parliament election at a polling station in Le Touquet, northern France on June 9, 2024. (AFP)

Euro and French Markets Roiled by Shock Macron Election Call 

The euro tumbled, while French bonds and stocks were hit hard on Monday, following French President Emmanuel Macron's decision to call a snap parliamentary…

Business An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in Kazakhstan (Reuters)

Oil Nudges Higher on Hopes of Summer Fuel Demand

Oil prices edged up on Monday, aided by hopes of rising fuel demand this summer, although a firmer dollar boosted by lower chances of imminent interest rate…

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Business A vendor stands next to his fruit stall as he waits for customers in Cairo (Reuters)

Goldman Sachs Predicts Inflation to Drop by 10% in Egypt

Goldman Sachs forecasted Egypt’s inflation rate to drop to 10% by end of June 2025, after a recent floating of the pound exchange rate, an enhanced agreement…

Asharq Al Awsat (Washington )
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 Holds Steady after Biggest Sell-off in 3-1/2 Years

Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected US jobs data, with investors awaiting the Federal…

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Business Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)

Uber CEO: We Are Studying Partnerships in Air Transport, Self-Driving Vehicles Sectors

The Uber ride sharing company revealed that it was studying striking partnerships in advanced air transport, including electric vertical takeoff and landing …

Fatehelrahman Yousif (Riyadh)
Business Saudi Arabia: Non-oil Activities Grow by 3.4% in Q1 2024

Saudi Arabia: Non-oil Activities Grow by 3.4% in Q1 2024

Saudi Arabia’s General Authority for Statistics (GASTAT) revealed on Sunday that real GDP decreased by 1.7% year-on-year in the Kingdom. In its GDP and…

Business  In this photo released by Xinhua News Agency, Chinese President Xi Jinping meets with Pakistani Prime Minister Shehbaz Sharif at the Great Hall of the People in Beijing, Friday, June 7, 2024. (Huang Jingwen/Xinhua via AP)

China, Pakistan Agree to Strengthen Mining, Oil and Gas Cooperation

China and Pakistan have agreed to boost mining cooperation and promote the implementation of a pact on strengthening mining development and industrial…

Business The move is an escalation in a clash between two countries that have historically had warm relations, and which have had a free-trade agreement in force since 2020.Photographer: Jack Guez/AFP/Getty Images

Colombia to Suspend Coal Sales to Israel Over Gaza War

Colombian President Gustavo Petro announced Saturday that his country will suspend coal exports to Israel as a rebuke against its deadly war against Hamas in…

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Business A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo Purchase Licensing Rights

Norway Wealth Fund to Vote Against Musk’s $56 Bln Tesla Pay Package

Norway's $1.7 trillion sovereign wealth fund said on Saturday it will vote against ratifying Tesla (TSLA.O), CEO Elon Musk's $56 billion pay package, which…

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Business A woman walks by as a man buys food from a kiosk near an electric-powered scooter wing mirror reflecting a construction site near office buildings in the Central Business District in Beijing, Wednesday, June 5, 2024. (AP Photo/Andy Wong)

Türkiye to Impose 40% Additional Tariff on Vehicle Imports from China

Türkiye has decided to impose a 40% additional tariff on imports of vehicles from China, a presidential decision published in the country's Official Gazette…

Asharq Al Awsat (Ankara)
Business A “Help Wanted” sign hangs in restaurant window in Medford, Massachusetts, US, January 25, 2023. REUTERS/Brian Snyder/File Photo Purchase Licensing Rights

US Job Gains Surge Past Expectations, Wage Growth Quickens

The US economy created far more jobs than expected in May and annual wage growth reaccelerated, underscoring the resilience of the labor market and reducing…

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Business Lines of trucks are seen at a container terminal of Ningbo Zhoushan port in Zhejiang province, China, August 15, 2021. Picture taken August 15, 2021. cnsphoto via REUTERS/file photo Purchase Licensing Rights

China's Exports Rise Solidly, but Slower Imports Temper Outlook

China's exports grew more quickly and for a second month in May, suggesting factory owners are managing to find buyers overseas and providing some relief to…

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Business An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in Kazakhstan (Reuters)

Oil Pares Gains after US Data Deflates Expectations of Near Term Rate Cut

Oil pared gains on Friday as demand concerns intensified after strong US jobs data soured hopes of the Federal Reserve cutting interest rates soon. Brent…

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