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 man enjoys the seaside as a ferry sails through Golden Horn in Istanbul, Türkiye May 1, 2024. (Reuters)

Türkiye Says Israel Trade Halted until Permanent Gaza Ceasefire

Türkiye will not resume trade with Israel, worth around $7 billion a year, until a permanent ceasefire is secured in Gaza with unhindered humanitarian aid…

Business Finance Minister Mohammed Al-Jadaan and Director General of the International Monetary Fund Kristalina Georgieva during a joint press conference in Washington (AFP)

Al-Jadaan: Reforms Will Lead Us to Bright Future in Financial Sector

Saudi Minister of Finance and Chairman of the Financial Sector Development Program Committee, Mohammed Al-Jadaan, said that Saudi Arabia continues, under…

Asharq Al Awsat (Riyadh)
Business FILE - People arrive before the start of a naturalization ceremony at the US Citizenship and Immigration Services Miami Field Office in Miami, Aug. 17, 2018. (AP Photo/Wilfredo Lee, File)

OECD: High Flows of Immigration Help Strengthen Jobs Markets in Rich Countries

High flows of immigration into rich countries are helping to strengthen jobs markets and bolster growth, the Organization for Economic Cooperation and…

Asharq Al Awsat (Paris)
Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz attends the Third Tashkent International Investment Forum. (SPA)

Energy Minister Underscores Economic Cooperation between Saudi Arabia, Uzbekistan

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz underlined on Thursday the economic cooperation between the Kingdom and Uzbekistan. He…

Business Officials are seen at the signing ceremony. (SPA)

Saudi EXIM Bank, Qatar Development Bank Sign MoU to Boost Cooperation

Saudi Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the EXIM Bank Bandar Ibrahim Alkhorayef held talks with Qatari…

Business Mawani launched the Levante Express service by Mediterranean Shipping Company (MSC) at the Jeddah Islamic Port to strengthen connectivity to ports across both northern and southern Europe. (SPA)

Mawani Strengthens Saudi-European Connections with Levante Express Service

The Saudi Ports Authority (Mawani) launched in April the Levante Express service by Mediterranean Shipping Company (MSC) at the Jeddah Islamic Port to…

Asharq Al Awsat
Business An offshore drilling rig is seen in the waters off Cyprus' coastal city of Limassol, on July 5, 2020 as a sailboat sails in the foreground. (AP)

Cyprus Gives Chevron Another 6 Months to Come up with Timetable on Natural Gas Field Development 

The Cyprus government has given Chevron another six months to come up with a revised plan to develop a sizeable natural gas deposit off the island nation’s…

Business Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. (Reuters)

Oil Prices Rebound on Hopes US Will Replenish Strategic Reserve

Oil prices rose on Thursday, rebounding from three days of losses, on expectations the lower levels may prompt the US, the world's biggest crude consumer, to…

Asharq Al Awsat
Business Engineers explore a min in Saudi Arabia. (SPA)

Saudi Arabia to Propose Investment Opportunities in Six Mining Locations

The mining sector in Saudi Arabia is witnessing growth and development with more investment opportunities expected to be proposed in 2024. Six locations will…

Saeed al-Abyad (Jeddah)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef heads the Kingdom’s delegation at the 52nd meeting of the Gulf Cooperation Council's (GCC) Industrial Cooperation Committee in Doha, Qatar. (SPA)

Minister of Industry Heads Saudi Delegation to 52nd Meeting of Industrial Cooperation Committee

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef headed the Kingdom’s delegation at the 52nd meeting of the Gulf Cooperation Council's (GCC)…

Business The Minister of Energy addressing the audience in a panel discussion on the sidelines of the Golden Jubilee celebrations of the Islamic Development Bank Group. (Asharq Al-Awsat)

Abdulaziz bin Salman: Countries Lagging Behind Should Follow Our Approach

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz said that the Kingdom ranks second in terms of the lowest intensity of carbon dioxide…

Asharq Al Awsat (Riyadh)
Business A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh’s Population Rise to 15 Million Helps Shift City towards Independent Economy

Real estate experts said that Riyadh’s goal to increase its population by about 15 million people in 2030 will contribute to its transformation into a city…

Mohammed al-Mutairi (Riyadh)
Business Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Dr. Jihad Azour. (Photo: Daniel Acker/Bloomberg)

Saudi Arabia’s Review of Vision 2030 Proves its Awareness of Global Changes

Saudi Finance Minister Mohammed Al-Jadaan said the Kingdom will adapt to the current economic and geopolitical challenges and will work to review Vision 2030…

Hala Saghbini (Riyadh)
Business Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. (Reuters)

Oil Falls for a Third Day as Middle East Ceasefire Hopes Rise

Oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and on rising crude inventories and production…

Business Larry Fink, Chairman and CEO of BlackRock, speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 14, 2023. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights

BlackRock to Launch PIF-backed Saudi Investment Platform

The world's largest asset manager BlackRock (BLK.N), said on Tuesday it plans to launch a new investment platform in Saudi Arabia, backed by up to $5 billion…

Asharq Al Awsat
Business Smoke and steam billow from Belchatow Power Station, Europe's largest coal-fired power plant powered by lignite, operated by Polish utility PGE, in Rogowiec, Poland, November 22, 2023. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights

G7 Agree to Quit Coal in Power Generation by 2035

Energy ministers from the Group of Seven (G7) major democracies agreed on Tuesday to end the use of coal in power generation during the first half of the next…

Asharq Al Awsat
Business One of the factories affiliated with the Saudi Ma’aden Company (File/AAWSAT)

Mosaic to Sell Stake in Saudi JV to Ma'aden for $1.5 Billion in Stock

Fertilizer maker Mosaic Co (MOS.N) said on Tuesday that Saudi Arabia's firm Ma'aden would acquire the US-based company's stake in a phosphate production joint…

Asharq Al Awsat
Business Saudi Arabia's Minister of Economy and Planning Faisal Alibrahim speaks during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed

Riyadh WEF Special Meeting Calls for Tech Use in Global Economic Growth

Leaders from around the world are stressing the importance of boosting global growth and tackling economic challenges, calling for urgent action to chart a…

Mosaed al-Zayani (Riyadh)
Business Workers in an oil field in Hubei Province, China (Reuters)

Al-Ghais: It's about Reducing Emissions, Not the Demand for Crude

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, stressed that the pace at which global demand for…

Asharq Al Awsat (Vienna)
Business The Saudi Minister of Energy speaking to the audience during the special meeting of the World Economic Forum in Riyadh (Asharq Al-Awsat)

Abdulaziz bin Salman: Saudi Arabia Has Adopted Circular Carbon Economy Since 2019

Saudi Minister of Energy Prince Abdulaziz bin Salman said that the Kingdom was focusing on transforming energy management methods into economically valuable…

Asharq Al Awsat (Riyadh)
Business The Olmeca oil refinery stands at the Dos Bocas port in Paraiso, Tabasco state, Mexico, Nov. 30, 2023. (AP Photo/Felix Marquez)

Oil Slips as Investors Eye Israel-Gaza Truce Talks

Oil edged down on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanding conflict in the Middle East, while worries…

Asharq Al Awsat
Business Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-tranded funds. DALE DE LA REY / AFP

Asia's First Spot Bitcoin, Ether ETFs Start Trading in Hong Kong

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a…

Asharq Al Awsat
Business QatarEnergy Signs $6bn Deal with China Shipbuilder

QatarEnergy Signs $6bn Deal with China Shipbuilder

A Chinese ship-building giant will construct 18 huge gas carriers for QatarEnergy under a $6 billion deal the Gulf firm announced on Monday, hailing it as the…

Asharq Al Awsat
Business The conclusion of negotiations was confirmed with the signing of a joint statement by UAE's Minister of State for Foreign Trade, and Ukraine’s First Deputy Prime Minister and Minister of Economic Development and Trade. WAM

UAE, Ukraine Conclude Talks on Bilateral Trade Deal

The United Arab Emirates and Ukraine have completed negotiations for a bilateral trade deal, according to a joint statement released on Monday, ahead of its…

Asharq Al Awsat (Abu Dhabi)