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 IBM Chairman and CEO Arvind Krishna. (Getty Images)

IBM President Highlights Saudi Arabia’s Rapid Rise in AI

IBM Chairman and CEO Arvind Krishna said Saudi Arabia was rapidly emerging as a global leader in the field of artificial intelligence. In an exclusive…

Business New imported cars are seen in a parking lot next to the Eilat port, Israel, June 12, 2018. (Reuters)

Israel’s Eilat Port Faces Layoffs Amid Red Sea Shipping Crisis, Union Says 

Half the workers at Israel's Eilat Port are at risk of losing their jobs after the seaport took a major financial hit due to the crisis in Red Sea shipping…

Business The Monsha’at pavilion at the Franchise Expo Paris (Asharq Al-Aswsat)

Saudi Arabia Supports 18 Brands to Expand in Global Markets

Saudi Arabia has encouraged 18 national brands to spread in global markets, through their participation in the Franchise Expo Paris, which was held in the…

Asharq Al Awsat
Business The 6th edition of the Saudi Entertainment and Amusement Expo (SEA Expo) will be held in Riyadh on May 7-9. (Asharq Al-Awsat)

Saudi Entertainment Expo to Highlights Industry’s Role in Workforce Empowerment

The 6th edition of the Saudi Entertainment and Amusement Expo (SEA Expo) is coming to Riyadh on May 7-9. It aims to spotlight how the entertainment industry…

Asharq Al Awsat (Riyadh)
Business Mawani, MEDLOG Sign Agreement Establishing Integrated Logistics Park at Jeddah Islamic Port

Mawani, MEDLOG Sign Agreement Establishing Integrated Logistics Park at Jeddah Islamic Port

The Saudi Ports Authority (Mawani) and MEDLOG, the logistics arm of the Mediterranean Shipping Co. (MSC), have signed an agreement to establish an integrated…

Asharq Al Awsat
Business Representations of cryptocurrency Bitcoin are seen in this illustration picture taken in Paris, France, March 9, 2024. REUTERS/Benoit Tessier/Illustration/File Photo Purchase Licensing Rights

Grayscale Bitcoin ETF Saw Record Daily Outflows as Bitcoin Tumbled

A selloff in bitcoin continued on Tuesday, accompanied by record outflows from Grayscale’s Bitcoin Trust, accelerating the asset losses by the fund since it…

Asharq Al Awsat
Business King Abdul Aziz Port in Dammam (Asharq Al-Awsat)

Saudi Arabia Asks Shipping Agents to Receive, Deliver Containers 24 Hours Per Day

The Saudi Ports Authority (Mawani) has asked all shipping agents and companies renting storage in the logistics and support services areas, to adhere to the…

Bandar al-Mosalam (Riyadh)
Business Saudi Arabia’s new mining investment system was launched with the aim of stimulating investment in the sector and developing it (Ministry of Industry and Mineral Resources website)

Ministry: Saudi Mining Licenses Surged 138% in 2023

Since the launch of Saudi Arabia's new mining investment system in January 2021, there has been a sharp upswing in issued mining licenses. The Ministry of…

Asharq Al Awsat (Riyadh)
Business Alvarez & Marsal released its 4th annual edition of the Kingdom of Saudi Arabia (KSA) Banking Pulse for fiscal year 2023. SPA

Alvarez & Marsal: Performance of Saudi Banks is Largely Robust, Positive

The performance of the top 10 banks in Saudi Arabia is largely robust and positive, global professional services firm Alvarez & Marsal (A&M) has said. …

Asharq Al Awsat (Riyadh)
Business Saudi Aramco CEO Amin Nasser speaks at the CERAWeek conference in Houston. (X platform)

Saudi Aramco CEO Says Phasing out of Fossil Fuels Is a ‘Fantasy’ 

Saudi Aramco CEO Amin Nasser said on Monday global oil demand will not peak for some time, so policy makers need to ensure sufficient investment in oil and gas…

Business An aerial view shows Majnoon oil field near Basra, Iraq, May 12, 2023. (Reuters)

Iraq to Reduce Its Crude Exports to 3.3 Million Barrels a Day 

Iraq will reduce its crude exports to 3.3 million barrels a day (bpd) in the coming months to compensate for exceeding its OPEC+ quota since January, the oil…

Business People buy fruits and vegetables at a local market in Cairo, Egypt, 12 March 2024. (EPA)

World Bank Group to Provide Egypt with $6 Bln over Three Years

The World Bank Group said on Monday it intends to provide more than $6 billion of support over the coming three years to Egypt, which has been struggling with…

Business Director General of the International Atomic Energy Agency (IAEA) Rafael Grossi attends a press briefing at the Foreign Press Center in Tokyo, Japan, 14 March 2024, after inspecting decommissioning work and the releasing of treated radioactive water at Tokyo Electric Power Company (TEPCO)'s Fukushima Daiichi Nuclear Power Plant in Okuma, Fukushima Prefecture. (EPA)

IAEA to Help Iraq Develop Peaceful Nuclear Program, Agency Head Says 

The head of the International Atomic Energy Agency Rafael Grossi met Iraq's prime minister in Baghdad on Monday as part of a visit to help the country develop…

Business People walk in Gaza, amid the ongoing conflict between Israel and the Palestinian group Hamas, as seen from Israel, March 17, 2024. (Reuters)

Palestinian Unemployment Rate Seen Spiking to Over 50% Amid Gaza Conflict, ILO Says 

The Israel-Palestinian conflict is seen pushing the rate of Palestinian unemployment in the occupied West Bank and Gaza to above 50%, the International Labour…

Business The personal financing category topped the list with a significant increase of 666% (Asharq Al-Awsat)

Economic Growth Boosts Role of Finance Companies in Saudi Arabia

Saudi Arabia's efforts to boost its economy and encourage local investments have led to a significant rise in loans provided by finance companies, reaching the…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Mike Wirth, the CEO of Chevron Corporation, speaks with Daniel Yergin, the vice chairman of S&P Global, as top energy executives and officials from around the world gather during the CERAWeek 2023 by S&P Global, energy conference in Houston, Texas, US, March 6, 2023. REUTERS/Callaghan O'Hare/File Photo

Oil Mergers, Clean Fuels Vie for Attention at Houston Energy Conference

Top oil executives and ministers descend on Houston this week for one of the world's biggest energy conferences emboldened by blockbuster mergers, stable oil…

Asharq Al Awsat (Houston)
Business Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold Slips as Dollar Firms, Cenbank Meetings in Focus

Gold prices slipped on Monday as the dollar held firm and investors braced for a slew of policy decisions from major global central banks including the US…

Asharq Al Awsat
Business  People look at Kyiv's panorama from a park in central Kyiv on March 15, 2024, amid the Russian invasion of Ukraine. (AFP)

Ukraine's GDP up by 3.6% in January-February, Economy Minister Says

Ukraine's gross domestic product rose 3.6% in the first two months of this year, and growth is expected to continue in the first quarter, the economy minister…

Business A general view of Riyadh, Saudi Arabia. (SPA file photo)

Standard and Poor’s Affirms Saudi Arabia 'A/A-1' Rating, Outlook Stable

Standard and Poor’s Global Ratings affirmed its “A/A-1” long- and short-term foreign and local currency unsolicited sovereign credit ratings on Saudi Arabia…

Business File photo: Egyptian President Abdel Fattah Al-Sisi meets with European Commission President Ursula von der Leyen at the Ittihadiya presidential palace in Cairo, Egypt. (Reuters/File)

EU Pledges Billions of Euros for Egypt

The European Union announced a 7.4 billion euro ($8.1 billion) funding package and an upgraded relationship with Egypt on Sunday. The agreement lifts the EU…

Asharq Al Awsat
Business Dubai police officers pose for a photo before firing the canon outside Dubai Mall during the holy month of Ramadan, in Dubai, United Arab Emirates, March 15, 2024. REUTERS/Rula Rouhana

Nakheel to Merge with Meydan Under Dubai Holding

Dubai real estate developers Nakheel and Meydan will merge and become part of Dubai Holding, UAE's WAM state news agency reported on Saturday. Dubai Ruler…

Asharq Al Awsat (Dubai)
Business  The central bank effectively revised upwards the Turkish lira share in the banking system,-  File photo

Turkish Central Bank Raises Credit Card Cash Withdrawal Rates

Türkiye's central bank on Saturday raised the maximum interest rate on credit card cash withdrawals to 5% from 4.42%, according to a decision published in the…

Asharq Al Awsat
Business In this aerial view, people take part in the first edition of the Kuwait Sports Day marathon, along the Sheikh Jaber al-Ahmad al-Sabah Causeway in Kuwait City on March 9, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Kuwait Oil Company Q8 to Buy 50% of Italy’s EcoFox

The Italian branch of Kuwait Petroleum International (KPI), Q8, said on Saturday that it would buy a 50% stake in Italian biodiesel producer, EcoFox, as part…

Asharq Al Awsat (Kuwait)
Business Saudis are seen at the Saudi financial market in the capital, Riyadh (Asharq Al-Awsat)

Revenue Growth, Service Expansion Raise Profits of Saudi Telecom Companies in 2023

Telecommunications companies listed on the Saudi Stock Exchange (Tadawul) achieved a 16.8 percent growth in their net profits by the end of 2023, bringing…

Mohammed al-Mutairi (Riyadh)