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 Interim President and CEO; Executive Director at US-Saudi Business Council Susanne Lendman. (SPA)

Saudi-US Business Council to Mark 13th Anniversary of Its Founding

The Saudi-US Business Council will organize a celebration Wednesday in Houston, Texas, on the occasion of the 13th anniversary of its founding. Investment and…

Asharq Al Awsat
Business Located in Qiddiya City, Aquarabia will complement Six Flags Qiddiya City, the city's flagship theme park. SPA

Biggest Water Theme Park in the Region 'Aquarabia' Joins Six Flags Qiddiya City

The Board of Directors of the Qiddiya Investment Company (QIC) has announced the launch of Aquarabia, the first water theme park of its kind in Saudi Arabia…

Asharq Al Awsat (Riyadh)
Business Alat is a company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia powered by clean energy. SPA

Saudi Arabia’s Alat Boosts Sustainable Manufacturing Capabilities

Alat, a PIF company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in Saudi Arabia, has…

Asharq Al Awsat (Riyadh)
Business Lord Mayor of London Michael Mainelli. (Asharq Al-Awsat)

Lord Mayor of London: Intense Efforts Underway to Deepen Partnerships between Saudi Arabia, UK

Lord Mayor of London Michael Mainelli revealed that intense efforts are underway to maximize fintech, green financing, AI, space and cyberspace partnerships…

Fatehelrahman Yousif (Riyadh)
Business Participants are seen at an e-sports event that was recently held in Saudi Arabia. (Asharq Al-Awsat)

CEO of Savvy Games Group: Saudi Arabia to Become Global Hub for Electronic Games Industry

Saudi Arabia is moving forward in the electronic games industry as part of its efforts to be a global hub in the sector and to attract foreign investments. …

Mosaed al-Zayani (Riyadh)
Business A report issued by Riyad Bank expects the non-oil private sector to grow by 4.5% this year (SPA)

Saudi Budget Results Highlight Progress in Implementing Reforms

The Saudi budget statement for the first quarter of 2024 highlighted the government’s continued efforts to complete the reform process and achieve financial…

Asharq Al Awsat (Riyadh)
Business Saudi capital, Riyadh (SPA)

SABIC Hosts First Boao Forum for Asia in Riyadh on Monday

The Saudi Basic Industries Corporation (SABIC) will host in Riyadh on Monday the first Boao Forum for Asia conference under the theme “Energy Transformation…

Asharq Al Awsat (Riyadh)
Business Laborers who work on daily wages wait to get hired in Karachi, Pakistan, (EPA)

IMF Mission to Visit Pakistan This Month to Discuss New Loan

An International Monetary Fund (IMF) mission is expected to visit Pakistan this month to discuss a new program, the lender said on Sunday ahead of Islamabad…

Asharq Al Awsat (Karachi)
Business Billboards with images of Prince Mohammed bin Salman al-Saud (R), Crown Prince and Prime Minister of Saudi Arabia, and Custodian of the Two Holy Mosques King Salman bin Abdulaziz al-Saud (L) are displayed at a road in Islamabad, Pakistan, 04 May 2024. (EPA)

Saudi Trade Delegation Heads to Pakistan to Ink Economic Agreements

A high-ranking Saudi trade delegation arrived in Pakistan on Sunday to sign a number of bilateral economic and investment agreements. The 50-member…

Asharq Al Awsat (Riyadh)
Business FILED - 16 March 2023, Bavaria, Munich: Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Photo: Sven Hoppe/dpa

Gold Rises on Fed Rate Cut Hopes, Middle East Tensions

Gold prices ticked higher on Monday, as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle…

Asharq Al Awsat
Business Saudi Electricity Company Aligns Financing for Two IPPs Projects with 3.6 GW Combined CCGT Capacity

Saudi Electricity Company Aligns Financing for Two IPPs Projects with 3.6 GW Combined CCGT Capacity

Saudi Electricity Company (SEC) announced that it has successfully aligned financing for the Taiba 1 and Qassim 1 Independent Power Plant (IPP) projects,…

Asharq Al Awsat
Business The EU is expected to aim its sanction bazooka at Russia’s lucrative gas sector/ File Photo by Reuters

EU Studies Plan to Bring Down Russia’s Gas Empire

For the first time since Moscow launched its full-scale attack on Ukraine more than two years ago, the EU is expected to aim its sanction bazooka at Russia’s…

Asharq Al Awsat
Business The Arabian Travel Market (ATM) will be held in Dubai from May 6 to 9 - SPA

AROYA Cruises Participates in Arabian Travel Market

AROYA Cruises, the first cruise line of Cruise Saudi, said that it is participating in the Arabian Travel Market (ATM), held in Dubai from May 6 to 9…

Asharq Al Awsat
Business This file photo taken on Dec. 20, 2019, shows a view of boats moored in front of high-rise buildings in the Qatari capital, Doha. (AFP)

Saudi Companies Take Part at Saudi National Products Exhibition in Qatar

More than 80 Saudi companies in the industrial, food, health and commercial sectors will participate in the first edition of the Saudi National Products…

Asharq Al Awsat
Business The first European Chamber of Commerce in the GCC region, ECCKSA

1st European Chamber of Commerce in GCC to Open in Riyadh

The first European Chamber of Commerce in the GCC region, ECCKSA, is set to be inaugurated in Saudi Arabia on May 8 to enhance economic and business ties…

Asharq Al Awsat (Riyadh)
Business People shop at Grand Bazaar in Istanbul, Türkiye, November 4, 2022. REUTERS/Dilara Senkaya

S&P Affirms Türkiye’s Successful Economic Plan

Credit ratings agency S&P on Friday moved Türkiye’s long-term sovereign rating one notch higher to B+ from B, with a positive outlook, according to a statement…

Saeed Abdulrazek (Ankara)
Business CEO of NEOM Green Hydrogen Co. Wesam Al-Ghamdi

CEO of NEOM Green Hydrogen Co.: Plant Construction Making Significant Progress

The CEO of NEOM Green Hydrogen Co. has announced progress on building the world’s largest hydrogen plant in Saudi Arabia’s NEOM region. Wesam Al-Ghamdi…

Mosaed al-Zayani (Riyadh)
Business Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital Transformation, Taro Kono. SPA

Saudi Arabia, Japan Discuss Expansion of Investment Opportunities in Digital Field

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital…

Asharq Al Awsat (Jeddah)
Business Camel riders are seen at the foot of Khafre Pyramid in Giza, south of the Egyptian capital. (AFP)

Egypt Rents Floating Liquefied Gas Unit to Support Energy Security

The Egyptian Ministry of Petroleum announced on Thursday that the country’s Natural Gas Holding Company (EGAS) has concluded an agreement with Norway’s Hoegh…

Business Officials are seen at the signing ceremony in Tashkent. (Asharq Al-Awsat)

Saudi Arabia's ACWA Power Signs $4.85 Bln Deal for Central Asia's Largest Wind Farm

Saudi Arabia’s ACWA Power signed a Power Purchase Agreement (PPA) with the National Electric Grid of Uzbekistan for Central Asia’s largest wind farm -- the…

Business  A visitor takes photos of the city from the Salaheddin Citadel in Cairo on May 2, 2024. (AFP)

Fitch Revises Egypt’s Outlook to Positive on Reduced External Financing Risks

Global ratings agency Fitch revised Egypt's outlook to positive from stable on Friday. The agency affirmed Egypt's rating at "B-", citing reduced external…

Business The MoU, signed by SRSA Acting CEO Mohammed Al-Nasser and NEOM CEO Nadhmi Al-Nasr, reflects SRSA's commitment to encouraging and attracting investment in coastal tourism activities. SPA

Saudi Red Sea Authority, NEOM Sign MoU to Improve Visitor Experience

Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate on developing legislation, regulations, and technology…

Asharq Al Awsat (NEOM)
Business South Africa’s Minister of Electricity Kgosientsho Ramokgopa (Reuters)

South African Minister of Electricity: Imminent Investments with Aramco, ACWA Power

South Africa’s Minister of Electricity, Kgosientsho Ramokgopa, said that Saudi Aramco is likely to pump $10 billion to invest in his country’s…

Fatehelrahman Yousif (Riyadh)
Business FILED - 16 March 2023, Bavaria, Munich: Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Photo: Sven Hoppe/dpa

Gold Set for Second Weekly Fall; US Payrolls on Investors' Radar

Gold prices were poised for a second straight weekly decline, although bullion held nearly steady on Friday as investors remained cautious ahead of the US non…

Asharq Al Awsat