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 Saudi Arabia was chosen as a knowledge center thanks to its pioneering experience over the past years. (SPA)

World Bank Seeks to Spread Saudi Arabia’s Reform Experience

The World Bank, in cooperation with Saudi Arabia, intends to establish a knowledge center in the Kingdom to support countries in implementing necessary…

Abeer Mishkhas (Riyadh)
Business A crew member looks at the oil slick in the aftermath of the Deepwater Horizon oil rig collapse, Thursday, May 6, 2010 in the Gulf of Mexico. (AP)

Oil Prices Retreat as Iran-Israel Tensions Ease 

Oil prices fell on Monday, dragged down by a renewed focus on market fundamentals as Israel and Iran played down the risks of an escalation of hostilities in…

Business FILE PHOTO: Tesla's Model 3 is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File Photo

Tesla Cuts Prices Around Globe, Including Middle East, after US Cuts

Tesla has cut prices in a number of its major markets - including in China, Germany and the Middle East - after price cuts in the United States - as it…

Asharq Al Awsat
Business The Saudi Fund for Development (SFD)

Saudi Fund for Development Signs Agreement to Support SMEs in Oman

The Saudi Fund for Development (SFD) in Oman has signed a development financing agreement worth $67 million with the Oman Development Bank (ODB). The agreement…

Asharq Al Awsat (Muscat)
Business A man rides a bike next to a message in support of hostages kidnapped in the deadly October 7 attack on Israel by Hamas, in Tel Aviv, Israel, April 21, 2024. REUTERS/Hannah McKay

Israel Launches Fund to Entice Institutional Investment in Tech Firms

Israel's government has launched a new fund to encourage institutional investors to boost investments in high-tech companies, the Israel Innovation Authority…

Asharq Al Awsat
Business Egyptian Finance Minister Mohamed Maait meets with Ivanna Vladkova Hollar, the IMF’s Mission Chief for Egypt (Asharq Al-Awsat)

Egypt Reaffirms Economic Reforms, Boosting Private Sector Role

Egyptian Finance Minister Mohamed Maait has assured the International Monetary Fund (IMF) that Egypt is sticking to reforms to boost the private sector’s…

Asharq Al Awsat (Washington)
Business The Spring Meetings of the IMF and World Bank held in Washington (IMF website)

Saudi Central Bank Chief Warns of Soaring Sovereign Debt Levels

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), has warned about the growing gap in economic growth between countries. He pointed out the risks of…

Asharq Al Awsat (Washington)
Business Saudi Arabia was chosen as a knowledge center due to its pioneering experience over the past years. (SPA)

Saudi Arabia, a Center for Spreading Culture of Economic Reforms Globally

Saudi Arabia and the World Bank Group announced on Friday their intention to establish a knowledge center in the Kingdom as part of their efforts to spread the…

Business A man walks past a bitcoin poster in Hong Kong on April 15, 2024. DALE DE LA REY / AFP

'Halving' Arrives for Bitcoin Miners

The bitcoin market on Friday engineered the "halving" of the reward for operating the cryptocurrency, a much-anticipated step designed to limit production and…

Asharq Al Awsat
Business The IMF Managing Director and Al-Jadaan during their joint press conference in Washington (AFP)

Al-Jadaan from Washington: We Must Be Vigilant, Prepared to Confront Challenges Ahead

Saudi Finance Minister Mohammed Al-Jadaan, Chairman of the International Monetary and Finance Committee (IMFC), said that the war in Ukraine, the crisis in…

Asharq Al Awsat (Washington)
Business The real estate sector in Saudi Arabia is heading towards recovery. (Photo: SPA)

Expansion Plans, High Returns Raise Profits of Saudi Real Estate Companies

Experts said that the real estate sector in Saudi Arabia is heading towards recovery thanks to the implementation of expansion plans, improved operating…

Mohammed al-Mutairi (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

Safe-haven Gold Rises as Israeli Attack on Iran Raises Concerns of Wider Conflict

Gold prices rose on Friday as risk aversion swept across financial markets following media reports on explosions in Iran, prompting fears of a wider regional…

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

Indicators Point to Saudi Economic Prosperity in 2025

Many indicators show that the Saudi economy is heading towards prosperity in 2025, based on data that made the International Monetary Fund (IMF) and the World…

Bandar al-Mosalam (Riyadh)
Business Workers prepare a stall filled with seafood at a market in Beijing on July 10, 2019. (AFP)

China’s Central Bank Vows to Prioritize Quality of Credit Over Size

There is still room for China's central bank to take steps to support the economy, but efforts are needed to prevent cash from sloshing around the banking…

Business FILE PHOTO: A general view shows the central station gas processing plant at Rumaila oilfield in Basra, Iraq, November 5, 2020. REUTERS/Essam Al-Sudani/File Photo

Oil Surges, Equities Sink as Iran Blasts Fan MidEast Escalation Fears

Oil prices rallied and equities sank Friday as reports said explosions had been heard in Iran and Syria, fueling fears of an escalation of the Middle East…

Asharq Al Awsat
Business An International Monetary Fund police officer walks by an IMF banner, during the World Bank/IMF Spring Meetings in Washington, Thursday, April 18, 2024. (AP Photo/Jose Luis Magana)

IMF Revises Down Middle East Growth Outlook

The International Monetary Fund said on Thursday Middle East economies would grow at a slower pace this year than it previously projected as the war in Gaza,…

Asharq Al Awsat
Business FILE PHOTO: A general view shows the central station gas processing plant at Rumaila oilfield in Basra, Iraq, November 5, 2020. REUTERS/Essam Al-Sudani/File Photo

Iraq to Seek Bids for Oil, Gas Contracts April 27

Iraq will hold a bidding round for oil and gas exploration contracts on April 27, the oil ministry said on Thursday. Iraq will auction 30 new oil and gas…

Asharq Al Awsat (Baghdad)
Business UNCTAD's Rebeca Grynspan compared the debt burden facing poorer countries to "a reverse blood transfusion". Fabrice COFFRINI / AFP

UN Says Solutions Exist to Rapidly Ease Debt Burden of Poor Nations

The heavy debt weighing on developing countries can be alleviated through readily available measures, the UN's trade and development chief said, pleading for…

Asharq Al Awsat
Business According to the Labor Observatory statistics, the total number of workers in the private sector reached about 10.9 million. (SPA)

11.2 Million Saudis Join Private Employment Market

A new report has shown that the Saudi private sector employment market has for the first time incorporated over 11.2 million employees, 8.8 of whom are…

Asharq Al Awsat
Business The UAE and Costa Rica signed a Comprehensive Economic Partnership Agreement (CEPA) during a virtual ceremony. WAM

UAE, Costa Rica Sign Trade Deal

The United Arab Emirates and Costa Rica have signed an agreement that will help improve bilateral trade and investment ties, UAE President Sheikh Mohammed bin…

Asharq Al Awsat (Abu Dhabi)
Business Men work at an oil refinery in Sodegaura, Japan February 8, 2017. Reuters/Issei Kato

Oil Stabilizes after Sharp Drop on Demand Concerns, Easing of Middle East Tension

Oil prices were little changed after a 3% drop in the previous session as the market remains concerned about demand this year and on signs that a wider…

Asharq Al Awsat
Business FILE PHOTO: El Palito refinery of the Venezuelan state oil company PDVSA is seen, in Puerto Cabello, Venezuela February 10, 2024. REUTERS/Leonardo Fernandez Viloria/File Photo

US to Reimpose Oil Sanctions on Venezuela

The Biden administration will reimpose oil and gas sanctions on Venezuela after President Nicolas Maduro failed to comply with a US-backed agreement to allow…

Asharq Al Awsat (Washington)
Business Men work at an oil refinery in Sodegaura, Japan February 8, 2017. Reuters/Issei Kato

Japan Oil Refiners to Tap Reserves in Case of Middle East Disruption

Japanese oil refiners see no immediate impact from escalating tensions in the Middle East on their crude procurement, but will use the country's reserves in…

Asharq Al Awsat (Tokyo)
Business The tour began in Beijing on April 15, and continued in Shanghai on April 17. (SPA)

NEOM Hosts Leading Industry Figures for its ‘Discover NEOM’ China Showcase

Saudi Arabia’s NEOM kicked off the China leg of its global “Discover NEOM” tour, in Beijing and Shanghai, with over 500 senior business and industry leaders in…