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 Assistant Minister of Foreign Affairs for Executive Affairs Abdulhadi Al-Mansouri made the announcement at LEAP 2024 in Riyadh on Monday. (Saudi Ministry of Foreign Affairs)

Saudi Foreign Ministry Launches ‘Dawli’ Platform to Boost Int’l Representation 

The Saudi Ministry of Foreign Affairs launched on Monday “Dawli”, a platform dedicated to recruitment opportunities at international organizations. The…

Business The Suez Canal connecting the Mediterranean Sea to the Red Sea is pictured from the window of a commercial plane flying over Egypt, December 18, 2019. (Reuters)

Suez Canal Head Says Egypt Studying Further Expansion of Waterway

Egypt is studying further expansions of the Suez Canal to extend and complete a second channel of the waterway, the canal's head said on Monday, a move that…

Business Saudi Minister of Communications and Information Technology Eng. Abdullah Alswaha speaks at the launch of LEAP 2024 in Riyadh. (SPA)

LEAP 24 Investments in New Technologies, Cloud Computing, Data Centers Reach Record $11.9Bln

Saudi Minister of Communications and Information Technology Eng. Abdullah Alswaha announced on Monday investments worth $11.9 billion to support deep and…

Business The meeting was chaired by Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade, Dr. Majid bin Abdullah Al-Qasabi, and Egyptian Minister of Industry and Trade Ahmed Samir. (SPA)

Saudi Minister of Commerce Chairs 18th Session of Saudi-Egyptian Joint Committee

The 18th session of the Saudi-Egyptian Joint Committee concluded in Riyadh on Monday. The meeting was chaired by Saudi Minister of Commerce and Chairman…

Business The initiative aims to attract investments in the hospitality sector, with a value of approximately SAR 42 billion, projecting estimated revenues of about SAR 16 billion to the Kingdom's GDP by 2030. (SPA)

Saudi Arabia Launches Program to Attract Local, Int’l Investments, Boost Role as Global Tourism Hub

Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb unveiled on Monday the Tourism Investment Enablers Program, designed to facilitate business practices and…

Business The new area will cover over 1.9 million square meters. SPA

Saudi Arabia: ROSHN Group Launches Sales of 4th Phase of Flagship Development 'SEDRA'

Saudi Arabia’s ROSHN Group announced on Monday the expansion of its popular "SEDRA" project in Riyadh with a new phase that adds 4,860 residential units. …

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin Bounces Beyond $64,000 as Records Beckon

Bitcoin scaled a two-year high on Monday, breaking $64,000 as a wave of money carried it within striking distance of record levels. It touched $64,285 early in…

Asharq Al Awsat
Business CEO of the National Transformation Program (NTP) Thamir Al-Sadoun. (Asharq Al-Awsat)

NTP CEO: ‘National Transformation’ Makes Big Strides in Legislative Development in Saudi Arabia

CEO of the National Transformation Program (NTP) Thamir Al-Sadoun confirmed that the Kingdom is on track to achieve some of the Program’s goals before the turn…

Bandar al-Mosalam (Riyadh)
Business The second edition of LEAP (SPA)

The World’s Eyes Turn to Riyadh for Launch of LEAP 24

LEAP24, the world’s largest technological exhibition, kicked off on Monday in Riyadh, with the participation of more than 1,800 international and local…

Asharq Al Awsat (Riyadh)
Business A full moon rises behind the Camlica mosque in Istanbul, Türkiye, Saturday, Feb. 24, 2024. (AP Photo/Emrah Gurel)

Türkiye Inflation Rises to 67%, Keeping Pressure on Cenbank

Türkiye's annual inflation rate climbed to 67.07% in February, exceeding expectations and keeping up pressure for tight monetary policy amid strong rises in…

Asharq Al Awsat
Business US dollar drifted within a tight range on Monday, pressured by lower Treasury yields - Reuters

Gold Near Two-month Peak as Dollar Drifts

Gold prices lingered close to a two-month high on Monday, after softer US economic readings last week cemented prospects of an interest rate cut in June by the…

Asharq Al Awsat
Business Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), poses for a picture in his office at the IAEA headquarters in Vienna, Austria on March 01, 2024, ahead of a board of governors of the UN nuclear watchdog to be held on March 4, 2024 in Vienna. (Photo by Joe Klamar / AFP)

IAEA Chief Pushes Development Banks to Fund New Nuclear Energy Projects

International Atomic Energy Agency chief Rafael Grossi has asked global development banks and their government shareholders to fund new nuclear energy projects…

Asharq Al Awsat
Business A paramilitary police officer stands guard, on the day of the opening session of the Chinese People's Political Consultative Conference (CPPCC), in front of the Great Hall of the People, in Beijing, China March 4, 2024. REUTERS/Tingshu Wang

Economy Dominates China's Major Political Meeting of the Year

One burning issue dominates as the 2024 session of China's legislature gets underway this week: the economy. The National People's Congress annual meeting,…

Asharq Al Awsat (Beijing)
Business FILE - The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria, March 3, 2022. (AP Photo/Lisa Leutner, file)

OPEC+ Producers Extend Oil Output Cuts

OPEC+ members agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, giving extra support to the market…

Asharq Al Awsat
Business Saudi Ministry of Industry and Mineral Resources to Participate in LEAP 2024

Saudi Ministry of Industry and Mineral Resources to Participate in LEAP 2024

The Saudi Ministry of Industry and Mineral Resources will participate with a pavilion in the third edition of LEAP 2024 to highlight the industrial and mining…

Business Non-Profit Sector in Saudi Arabia Witnesses Rapid Growth in Early 2024

Non-Profit Sector in Saudi Arabia Witnesses Rapid Growth in Early 2024

The National Center for the Development of the Non-Profit Sector in Saudi Arabia announced on Sunday the latest developments in the growth of the non-profit…

Business Energy Ministry: Saudi Arabia to Extend Voluntary Cut of 1Mln Barrels per Day until End Q2 of 2024

Energy Ministry: Saudi Arabia to Extend Voluntary Cut of 1Mln Barrels per Day until End Q2 of 2024

An official source from the Saudi Ministry of Energy announced on Sunday that Saudi Arabia will extend its voluntary cut of one million barrels per day, which…

Business Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Jamal Issa Al-Loughani. (OAPEC)

OAPEC Secretary General: World Economy Will Fall in Deep Slump without Oil, Gas

Jamal Issa Al-Loughani, Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC), predicted that the world would become primitive if…

Sabri Najeh (Cairo)
Business Oxagon industrial city is located in NEOM in northwestern Saudi Arabia. (Asharq Al-Awsat)

Oxagon CEO to Asharq Al-Awsat: We Hope to Redefine Concept of Industrial Cities

Oxagon industrial city is hoping to redefine the concept of industrial cities in the world. ‘Located in NEOM, a region in northwestern Saudi Arabia, it…

Mosaed al-Zayani (Riyadh)
Business Russian-flagged bulk carrier SV Nikolay is unloaded at Izmir port in Türkiye June 25, 2022. REUTERS/Yoruk Isik/File Photo Purchase Licensing Rights

Türkiye's Feb Exports to Russia Down 34% from Year Earlier

Türkiye's exports to Russia in February fell 33% year on year to $670 million, trade ministry data showed on Saturday. That was down from $1.1 billion in…

Asharq Al Awsat
Business Yilmaz speaks during the summit in London. (From his account on the X platform)

Türkiye Focuses on Industry, Digital Transformation to Improve Investment Environment

Türkiye has finalized a plan to improve the investment environment, with the aim to simplify legislation and administrative procedures and accelerate digital…

Saeed Abdulrazek (Ankara)
Business The Algerian Minister of Energy welcomes delegations participating in the Gas Summit. (Ministry of Energy)

Gas Exporting Countries Meet in Algeria to 'Strengthen Sovereignty' over Resources

Leaders of the Gas Exporting Countries Forum will gather on Saturday in the Algerian capital to discuss stabilizing energy prices and meeting the growing…

Asharq Al Awsat (Algiers)
Business An aerial view of the Saudi capital, Riyadh (AFP)

Why Did 630 Int’l Companies Choose Saudi Arabia as Regional Headquarters?

While Saudi Arabia is preparing to host 450 new regional headquarters for a number of international companies, in addition to issuing 180 licenses, Asharq Al…

Bandar al-Mosalam (Riyadh)
Business Oil prices are mixed amid different demand indicators  - AFP

Oil Affected by Chinese, US Demand Indicators

Oil prices are mixed amid different demand indicators as China's latest data point to a fifth straight month of contraction in the manufacturing sector, while…

Asharq Al Awsat