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 (FILES) A photo taken on September 6, 2023 shows storage tanks of the Total Energies Donges oil refinery, in the city of Donges, western France. (Photo by LOIC VENANCE / AFP)

Oil Set for Weekly Gain on US Economic Growth, Mideast Supply Concerns

Oil prices eased on Friday but were set for their biggest weekly gain since October as positive US economic growth and signs of Chinese stimulus boosted fuel…

Asharq Al Awsat
Business FILE PHOTO: The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. Houthi Military Media/Handout via REUTERS

UN: Global Trade is Being Disrupted by Red Sea Attacks, War in Ukraine and Low Water in Panama Canal

The UN trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the…

Asharq Al Awsat
Business “Dream of the Desert” train, the first of its kind in the region (Asharq Al-Awsat)

Saudi Arabia: ‘Dream of the Desert’ Train to Start Trips in Q4 2025

The Saudi Railways (SAR) signed an agreement with Italy’s Arsenale group on Thursday to launch the “Dream of the Desert” luxury train, with 40 luxury cabins…

Asharq Al Awsat (Riyadh)
Business Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud. SPA

Saudi Crown Prince Launches National Biotechnology Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud has launched the National Biotechnology Strategy, a comprehensive roadmap designed to enhance the…

Asharq Al Awsat (Riyadh)
Business The two sides discussed ways to strengthen the strategic partnership in tourism. SPA

Saudi Arabia, Spain Discuss Tourism Cooperation

A Saudi delegation from the Ministry of Tourism, headed by Deputy Minister of Tourism for International Affairs Sultan Al Musallam, has taken part in the…

Asharq Al Awsat (Riyadh)
Business File photo of vessel Umm Al Aish

KOTC: We Monitor Situation in Bab Al-Mandeb Strait

Kuwait Oil Tanker Company (KOTC) said on Thursday it is daily monitoring and assessing the current situation in Bab Al-Mandeb Strait and Red Sea. It…

Asharq Al Awsat
Business The decision follows similar moves by companies including Shell (File photo/Reuters)

Red Sea Attacks Push BHP to Divert Shipping

Mining giant BHP Group is diverting almost all of its shipments from Asia to Europe away from the Red Sea, the Wall Street Journal reported on Thursday. …

Asharq Al Awsat
Business Fitch Ratings said on Wednesday that shipping disruptions and re-routing away from the Red Sea “will maintain the geopolitical premium in the main commodity markets.” (Photo: Reuters)

Qatar Energy: Developments in Red Sea May Affect Gas Shipments

Qatar Energy announced on Wednesday that the attacks in the Red Sea “may affect” the scheduling of liquefied natural gas (LNG) shipments, in contrast to…

Asharq Al Awsat (Doha)
Business Sudani chairs the meeting held to follow up on the implementation of the Ministry of Oil projects. (INA)

Iraq to Establish Fixed Platform for Imported Gas at Grand Faw Port

Iraqi Prime Minister Mohammad Shia Al-Sudani approved Wednesday the establishment of a fixed platform for imported gas at the Grand Faw Port. This gas…

Asharq Al Awsat (Baghdad)
Business A woman shops at a street market in Istanbul, Türkiye, 04 December 2023 (EPA)

Türkiye’s Central Bank Expected to Raise Interest Rate 2.5%

Türkiye’s central bank is gearing up for its inaugural Monetary Policy Committee meeting of the year, scheduled for Thursday, with a primary focus on the…

Saeed Abdulrazek (Ankara)
Business A part of the videoconference between GCC Secretary-General Jassem Al-Budaiwi and UK’s Minister of State for International Trade Anne-Marie Trevelyan and several officials from both sides.

GCC, UK Aim to Finalize Free Trade Agreement

Free Trade Agreement (FTA) negotiations between Gulf Cooperation Council (GCC) countries and the UK are set to resume in London at the end of this month,…

Asharq Al Awsat (Riyadh)
Business (FILES) A photo taken on September 6, 2023 shows storage tanks of the Total Energies Donges oil refinery, in the city of Donges, western France. (Photo by LOIC VENANCE / AFP)

Oil Rises on US Crude Stock Draw, China Stimulus Hopes

Oil prices rose on Thursday after data showed US crude stockpiles fell more than expected last week, while the Chinese central bank's cut in banks' reserve…

Asharq Al Awsat
Business  An Egyptian man drives his motorbike in front of posters of Egypt's President Abdel Fattah al-Sisi that reads, "Our goal is to build modern Egypt", in Cairo, Egypt January 24, 2024. (Reuters)

Sisi Tells Egyptians to Bear with Economic Pain, Says Mega-Projects Provide Jobs

President Abdel Fattah al-Sisi told Egyptians on Wednesday they were still able to eat and drink despite soaring prices as he defended mega-projects he said…

Business Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)

NEOM Announces Zardun, its New Luxury Ecotourism Destination

NEOM's Board of Directors announced on Wednesday the launch of "Zardun", an exclusive resort and natural reserve that will contribute to the restoration and…

Business A meeting of the American economic delegation at the Algerian Ministry of Industry. (Ministry of Industry)

American Businessmen in Algeria Discuss Investments amid Growing Political Ties

A delegation of American businessmen and CEOs concluded on Tuesday a three-day visit to Algeria, where they discussed with ministers the launching of projects…

Asharq Al Awsat (Algiers)
Business ASFAR pavilion at the Saudi Tourism Forum (Asharq Al-Awsat)

ASFAR to Asharq Al-Awsat: Tourist Destinations in Western Saudi Arabia Ready to Receive Visitors in 2025

ASFAR, the Saudi Tourism Investment Company, wholly owned by the Public Investment Fund, said that a number of tourism facilities in the Al-Baha and Yanbu…

Asharq Al Awsat (Riyadh)
Business The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change. (Asharq Al-Awsat)

Saudi Arabia Underscores Women's Role in Real Estate, National Development

The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning…

Business Chairman of the Egyptian Investment Authority Hossam Heiba meets with Tariq Al-Ansari, Qatar's ambassador to Cairo. (Asharq Al-Awsat)

Egypt, Qatar to Develop New Strategy for Investment Cooperation

Egypt and Qatar discussed developing a new strategy and work mechanism to increase economic and investment cooperation between the two countries. CEO of…

Business Egyptian Prime Minister Moustafa Madbouli attends the signing of agreements in Cairo. (Asharq Al-Awsat)

Egypt's SCZone Inks $200 Mln Agreements for Five Projects

Egypt's Suez Canal Economic Zone (SCZone) signed five framework agreements to launch projects worth more than $200 million, according to a Cabinet statement on…

Business Officials are seen at the signing of the Hyundai Motor agreement with the Saudi Public Investment Fund for joint investment to establish a car assembly plant on October 22. (Yonhap)

Hyundai Posts Surge in Profits Amid Robust Performance in Saudi Arabia and Vietnam

Hyundai Engineering & Construction said Tuesday its net profit jumped 38.9 percent on-year in 2023, bolstered by increased construction project orders, and the…

Asharq Al Awsat (Seoul)
Business The ranking of the Kingdom of Saudi Arabia, represented by the General Authority for Statistics (GASTAT), jumped 25 places in the Statistical Performance Index (SPI) issued by the World Bank. (SPA)

Saudi Arabia Ranks 25th Globally, First in Gulf, in Statistical Performance Index

The ranking of the Kingdom of Saudi Arabia, represented by the General Authority for Statistics (GASTAT), jumped 25 places in the Statistical Performance Index…

Business The opening session of the Saudi Tourism Forum (Asharq Al-Awsat)

Saudi Tourism Forum Launches its Second Edition

The second edition of the Saudi Tourism Forum (STF) began Monday under the auspices of Visit Saudi at the Riyadh International Convention and Exhibition…

Asharq Al Awsat (Riyadh)
Business Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail speaks at the Real Estate Future Forum 2024. (Asharq Al-Awsat)

Saudi Arabia Plans to Unveil Over 500,000 New Homes by 2030

Saudi Arabia plans to introduce more than half a million new housing units by 2030, following recent legal changes that restructured the real estate sector…

Business Saudi Public Investment Fund (Asharq Al-Awsat)

Saudi PIF Receives Over $20 Bn Orders for its Dollar-Dominated Bonds

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, received orders for over $20 billion for its dollar-denominated triple-tranche bond sale…

Asharq Al Awsat (Riyadh)