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 The IsDB annual meetings are currently held in Riyadh. (Asharq Al-Awsat)

IsDB Meetings in Riyadh Earmark $400 Million to Fund African States

The International Islamic Trade Finance Corporation (ITFC) signed on Sunday agreements worth $440 million to finance African countries. The World Bank had…

Asharq Al Awsat (Riyadh)
Business The center will be hosted by the Saudi Space Agency. SPA

Saudi Space Agency to Launch Center for Space Futures with World Economic Forum

The World Economic Forum has signed an agreement with the Saudi Space Agency to establish the Center for Space Futures, set to open this autumn. The center,…

Asharq Al Awsat (Riyadh)
Business Gulf Cooperation Council (GCC) Secretary-General Jassim Al Budaiwi. Photo: Website of the World Economic Forum’s special meeting in Riyadh

GCC Secretary-General to Asharq Al-Awsat: Gulf States Advancing Unified Tourist Visa

Gulf Cooperation Council Secretary-General Jassim Al Budaiwi confirmed that GCC nations are working towards introducing a unified Gulf visa for global…

Mosaed al-Zayani (Riyadh)
Business Part of the launch of the World Economic Forum activities in Riyadh (SPA)

Leaders in Riyadh Forge Policies Safeguarding Global Economy from Shocks

The bustling scene in Saudi Arabia is echoing the triumph of its economic overhaul under the national transformation plan, “Vision 2030.” As the world…

Hala Saghbini (Riyadh) Mosaed al-Zayani (Riyadh)
Business Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman Al-Saud speaks to a panel during the World Economic Forum Special Meeting in Riyadh on April 28, 2024. (Photo by Fayez Nureldine / AFP)

Saudi Energy Minister, EU Official Discuss Energy and Clean Tech Cooperation

Saudi Minister of Energy Prince Abdulaziz bin Salman Al-Saud and European Commissioner for Energy Kadri Simson have met on the sidelines of the World Economic…

Asharq Al Awsat (Riyadh)
Business Logos of ExxonMobil are seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Japan (Reuters)

Türkiye in Talks with ExxonMobil over Natural Gas Deal

Türkiye is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, in an effort to curb its dependence on…

Asharq Al Awsat (London)
Business Saudi Arabia’s NEOM has secured a new revolving credit facility (RCF) worth SAR10 billion. (SPA)

NEOM Secures SAR10 Billion Financing Facility as Development Powers ahead

Saudi Arabia’s NEOM announced on Sunday that it has secured a new revolving credit facility (RCF) worth SAR10 billion. It represents another milestone for…

Business  President of the World Economic Forum Borge Brende speaks during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. (Reuters)

WEF President Highlights Saudi Arabia's Development, Economic Ambition

President of the World Economic Forum (WEF) Borge Brende expressed on Sunday his appreciation to the government of Saudi Arabia for hosting the WEF's special…

Business Saudi Minister of Finance Mohammed Al-Jadaan (SPA)

Al-Jadaan: Saudi Arabia Committed to Achieving Progress, Prosperity to Build Sustainable Future

Saudi Minister of Finance Mohammed Al-Jadaan said the annual meetings of the Islamic Development Bank Group, which kicked off in Riyadh on Saturday, under the…

Business Vehicles drive on Sheikh Zayed road after it was cleaned from flood water, backdropped by the world's tallest building of Burj Khalifa in Dubai, United Arab Emirates, 19 April 2024. (EPA)

Dubai Plans to Move Its Busy International Airport to a $35 Billion New Facility within 10 Years

Dubai International Airport, the world's busiest for international travel, will move its operations to the city-state's second, sprawling airfield in its…

Business Saudi Energy Minister Prince Abdulaziz bin Salman participates at the panel discussion on the sidelines of the WEF in Riyadh. (Asharq Al-Awsat)

Energy Minister: Saudi Arabia Prepared to Partner with Everyone to Transport Hydrogen

Saudi Energy Minister Prince Abdulaziz bin Salman expressed on Sunday the Kingdom’s readiness to partner with everyone to supply the world with all types of…

Business The Saudi capital is hosting on Sunday the first global meeting of the World Economic Forum. (WEF)

WEF in Saudi Arabia Seeks to Redraw Paths of Development

The Saudi capital is hosting on Sunday the first global meeting of the World Economic Forum, under the patronage of Prince Mohammed bin Salman, Crown Prince…

Hala Saghbini (Riyadh)
Business Saudi Minister of Economy and Planning Faisal bin Fadhil Alibrahim and WEF President Borge Brende. SPA

Saudi Economy Minister: Riyadh WEF Special Meeting is a ‘Unique Opportunity’ to Reshape Development

Saudi Minister of Economy and Planning Faisal bin Fadhil Alibrahim has said the World Economic Forum's (WEF) special meeting in Riyadh presents a vital chance…

Asharq Al Awsat (Riyadh)
Business Pictured, from left, at the cooperation framework agreement signing ceremony are Xiang Jiongjiong, Zhejiang Rongsheng Holding Group Vice Chairman and Rongsheng Petrochemical CEO; Li Shuirong, Zhejiang Rongsheng Holding Group Chairman; Wang Hao, Zhejiang Provincial Government Governor; Amin H. Nasser, Aramco President & CEO; Mohammed Y. Al Qahtani, Aramco Downstream President; and Faisal M. Al Faqeer, Aramco Senior Vice President of In Kingdom Liquids to Chemicals Development. Photo: Aramco

Aramco, Rongsheng Explore New Opportunities in Saudi Arabia and China

Aramco is exploring the formation of a joint venture in the Saudi Aramco Jubail Refinery Company (“SASREF”) with Chinese partner Rongsheng Petrochemical Co…

Asharq Al Awsat (Dhahran)
Business 27 April 2024, Berlin: Christian Lindner, Germany's Chairman of the Free Democratic Party (FDP) and Finance Minister, speaks during the 75th Ordinary FDP Party Conference. Photo: Hannes P. Albert/dpa

Finance Minister: Germany Needs an Economic Turnaround

Germany needs an economic turnaround in order to secure its geopolitical position, German Finance Minister and head of the Free Democrats FDP Christian Lindner…

Asharq Al Awsat
Business EWEC Announces Partners to Develop 1.5GW Solar Project in Abu Dhabi

EWEC Announces Partners to Develop 1.5GW Solar Project in Abu Dhabi

EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity…

Asharq Al Awsat (Abu Dhabi)
Business The annual report for Vision 2030 showed tremendous achievements in all programs and initiatives. (Asharq Al-Awsat) 

Ministers: Saudi Arabia Continues its Transformational Journey at Accelerated Pace

Ministers and officials in the Saudi government said that the Kingdom is continuing its comprehensive transformational journey at an accelerated pace since the…

Asharq Al Awsat (Riyadh)
Business Vision 2030 was launched on April 25, 2016. (Asharq Al-Awsat)

Saudi Vision 2030: Historic Economic Transformation through Diversity, Growth  

Custodian of the Two Holy Mosques, King Salman bin Abdulaziz stressed that Saudi Arabia is making major and lasting progress with its Vision 2030 national…

Asharq Al Awsat (Riyadh)
Business Azour during his talk to Asharq Al-Awsat (Photo: Turki Al-Aqili)

Azour to Asharq Al-Awsat: Political Developments Put Pressure on the Region’s Economies

The Director of the Middle East and Central Asia office at the International Monetary Fund (IMF), Dr. Jihad Azour, said that geopolitical developments are…

Hala Saghbini (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 on Track for First Weekly Dip in Six; Focus on US Inflation Data

Gold inched up on Friday ahead of a key US inflation report, but prices were on track for their first weekly drop in six weeks on easing concerns of a major…

Asharq Al Awsat
Business The project comprises a 150 MW wind project in the northern provinces of Fahs Anjra M'diq-Fnideq and a 250 MW wind farm in the provinces of Tangier and Tetouan. 

Morocco Tenders for 400 MW Wind Farm 

Morocco's renewable energy agency Masen launched a pre-qualification tender on Thursday for a 400-megawatt wind project in the country's north. The tender…

Business A new US law requires TikTok to sever all ties with its Chinese parent ByteDance or face a ban in the United States. OLIVIER DOULIERY / AFP/File

ByteDance Says 'No Plans' to Sell TikTok after US Ban Law

Chinese tech giant ByteDance has said it has no plans to sell TikTok after a new US law put it on a deadline to divest from the hugely popular video platform…

Asharq Al Awsat
Business Consumers shopping in a supermarket in the British capital (EPA)

World Bank: Middle East Tensions Threaten to Increase Global Inflation

Global commodity prices are leveling off after a steep descent that played a decisive role in whittling down overall inflation last year, which could make it…

Asharq Al Awsat (Washington)
Business A logo of Türkiye's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan/File Photo

Türkiye Cenbank Holds Rates at 50% Citing Last Big Hike

Türkiye's central bank kept its main interest rate steady at 50% on Thursday as expected, citing a big tightening in financial conditions since its last hike,…

Asharq Al Awsat