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 of produce for sale at a store in Istanbul, Türkiye, May 29, 2023. REUTERS/Hannah McKay/File Photo Purchase Licensing Rights

Türkiye Inflation Hits 75% in Expected Peak Before Relief

Turkish annual consumer price inflation reached 75.45% in May, a bit above expectations, official data showed on Monday, in what is expected to be the high…

Asharq Al Awsat
Business A view shows an oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. (Reuters)

Oil Prices Extend Losses on Worries of Supply Rising Later in 2024

Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors…

Asharq Al Awsat
Business The newly established headquarters will oversee the company's operations in the Kingdom, serving the Middle East and North Africa (MENA) region. (SPA)

ServiceNow Inaugurates Regional Headquarters in Riyadh, Strengthening Commitment to Saudi Arabia

ServiceNow, an American digital workflow company, inaugurated on Monday its regional headquarters in Riyadh, said the Ministry of Communications and…

Business Minister of Energy and Water in the Lebanese caretaker government Walid Fayyad. (Reuters file photo)

Lebanon’s Minister of Energy Heads to Damascus to Discuss Technical Files

Lebanese caretaker Energy Minister Walid Fayyad headed to Damascus on Monday for a two-day visit to discuss files mainly related to water resources. Lebanon…

Asharq Al Awsat (Beirut)
Business A general view of the sea off Yeongil Bay in Pohang, South Korea, 03 June 2024. (EPA/Yonhap)

South Korea’s Yoon Approves Exploration of Vast Oil, Gas Prospects 

South Korean President Yoon Suk Yeol gave the green light on Monday to conduct exploratory drilling for potentially vast oil and gas prospects found off the…

Business The Qatar Central Bank in Doha. (Reuters)

Qatar Central Bank Announces Launch of Digital Currency Project

The Qatar Central Bank (QCB) launched on Sunday its Digital Currency Project (CBDC), which aims to settle large payments with a group of local and…

Asharq Al Awsat (Doha)
Business The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019.  (Reuters)

Investors Flock to Aramco Share Sale That Could Raise $13 Bln 

Saudi Arabia's sale of shares in oil giant Aramco drew more demand than the stock on offer within hours of kicking off on Sunday, a deal that could raise up to…

Business Chevron, Exxon’s biggest rival, announced a contentious $53bn deal for Hess - AFP

US Shale Industry’s $200bn Dealmaking Wave Redraws Energy Landscape

Dealmaking in US oil and gas has surged to almost $200bn in the past year as the biggest producers compete to swallow up rivals in a race for scale that has…

Asharq Al Awsat
Business OPEC+ members are currently cutting output by a total of 5.86 million barrels per day (bpd) (Reuters)

OPEC+ Extends Deep Oil Production Cuts into 2025

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025, exceeding market expectations, as the group seeks to shore up the market amid…

Asharq Al Awsat
Business The Saudi flag. Asharq Al-Awsat

SAUDI EXPORTS, Alibaba Sign MoU to Enhance Saudi Products Access to Global Markets

The Saudi Export Development Authority (SAUDI EXPORTS) has signed a memorandum of understanding (MoU) with Alibaba, aiming to facilitate the global market…

Asharq Al Awsat (Riyadh)
Business The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM. SPA

Al-Swaha Reviews Latest Strategic Plans for Digital, Innovative Projects in NEOM

The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM to review the progress of strategic plans and…

Asharq Al Awsat (NEOM)
Business Officials work on the wreckage of a plane operated by Pegasus Airlines after it skidded Wednesday off the runway at Istanbul’s Sabiha Gokcen Airport, in Istanbul, Thursday, Feb. 6, 2020. (Emrah Gurel/Associated Press)

Türkiye's Pegasus to Begin work on New Plane Order for Delivery beyond 2029

Türkiye Pegasus Airlines will in the coming months begin work on its next plane order as it looks to continue its fast-paced growth into the next decade, the…

Asharq Al Awsat
Business A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. REUTERS/Randall Hill/File Photo Purchase Licensing Rights

Emirates Boss Urges Boeing to Review Mistakes

Emirates Airline President Tim Clark on Sunday challenged Boeing to review things that had gone wrong, predicting that the fallout from a recent industrial…

Asharq Al Awsat
Business The memorandum of understanding was signed by Fatma Thabet Chiboub, Tunisia’s Minister of Industry, Mines and Energy, and Marco Arcelli, CEO of ACWA Power. (Asharq Al-Awsat)

Saudi ACWA Power Signs MoU to Develop Green Hydrogen Project in Tunisia

Saudi Arabia’s ACWA Power signed a memorandum of understanding with the Tunisian Ministry of Industry, Mines and Energy, with the aim to study the…

Asharq Al Awsat (Tunis)
Business FILE - Storage tanks are seen at the North Jeddah bulk plant, an Aramco oil facility, in Jeddah, Saudi Arabia, on March 21, 2021. (AP Photo/Amr Nabil, File)

Saudi Aramco Offers Second Stock Tranche

Saudi Arabia said Friday it will sell a second sliver of stock in oil giant Aramco, its first tranche since its initial public offering back in 2019. Saudi…

Asharq Al Awsat (Riyadh)
Business One of the job fairs that bring together companies and job seekers in Saudi Arabia (Asharq Al-Awsat)

‘Takamol’ CEO: 1 Mln Daily Operations Tracked on ‘Qiwa’ Platform

A Saudi official has revealed a new initiative dedicated to achieving an integrated employment market and fixing issues in the Kingdom’s job market. The…

Badr Al-Qahtani (London)
Business The King Abdullah Petroleum Studies and Research Center (KAPSARC) released a book titled “The Clean Hydrogen Economy and Saudi Arabia.”

NEOM to Become Global Low-Cost Hydrogen Producer: KAPSARC

Saudi Arabia is pushing forward to become a global leader in both producing and using hydrogen as a clean energy source. By 2026, it plans to finish building…

Asharq Al Awsat (Riyadh)
Business The Saudi Minister of Economy and Planning has met in Milan with the Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of Italy. SPA

Saudi Arabia, Italy Discuss Economic Cooperation

The Saudi Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, has met in Milan with the Deputy Prime Minister and Minister of Foreign Affairs and…

Asharq Al Awsat (Milan)
Business At the closing ceremony are GO CEO Khalid Riaz, sitting left, and Aramco Director of International Retail Nader Douhan, sitting right. Standing, from left, are GO board members Bilal Ansari and Shahzad Mubeen, Aramco Executive Vice President of Products & Customers Yasser Mufti, GO Chairman Tariq Kirmani, and Aramco Vice President of Retail Ziyad Juraifani. (Aramco Official Site)

Aramco Completes Acquisition of 40% Stake in Gas & Oil Pakistan

Saudi oil giant Aramco said it has made further progress in its global retail expansion by completing the acquisition of a 40% equity stake in Gas & Oil…

Asharq Al Awsat
Business Chicago, November 22, 2022. REUTERS/Jim Vondruska Purchase Licensing Rights

US Inflation up Moderately in April

US inflation tracked sideways in April and consumer spending weakened, mixed signals for the Federal Reserve that provided little clarity on whether the US…

Asharq Al Awsat
Business Oil pump jacks are seen at uthe Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Purchase Licensing Rights

Oil Stabilizes Ahead of OPEC+ Meeting

Oil prices held steady on Friday as investors await US inflation data for clues on the demand outlook before turning attention to Sunday's OPEC+ meeting to…

Asharq Al Awsat
Business A fuel nozzle from a bio diesel fuel pump is seen in this photo illustration taken at a filling station in San Diego, California January 8, 2015. REUTERS/Mike Blake Purchase Licensing Rights

France, Germany Urge Tougher EU Checks on Biofuel Imports

France and Germany have called on the European Union to adopt stricter checks on overseas suppliers of biofuel as the EU investigates allegations of fraud in…

Asharq Al Awsat
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 Flat Ahead of US Data, But Set for Fourth Straight Monthly Gain

Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key US inflation reading that could…

Asharq Al Awsat
Business Shoppers show up early for the Black Friday sales at the King of Prussia shopping mall in King of Prussia, Pennsylvania, US November 26, 2021. REUTERS/Rachel Wisniewski Purchase Licensing Rights

Consumers Curb US Economic Growth in Q1

The US economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer spending and a key measure of inflation…

Asharq Al Awsat