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 A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Türkiye December 16, 2021. (Reuters)

Turkish Lira Hits 30 vs Dollar Milestone after Years-long Slide

The Turkish lira hit a new record low beyond 30 to the dollar on Thursday after losing more than a third of its value last year and more than 80% in the last…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef at the third Future Minerals Forum held in Riyadh this week (Asharq Al-Awsat)

Saudi Arabia Raises Mineral Wealth Estimate to $2.5 Trillion

Saudi Arabia has just revealed a valuable mining discovery underground, worth more than SAR 9.3 trillion ($2.5 trillion). This nearly doubles the 2016…

Bandar al-Mosalam (Riyadh)
Business ROSHN Group, Saudi Arabia's leading real estate developer and PIF-owned giga-project

ROSHN and EVIQ Accelerate EV Adoption in Saudi Arabia

ROSHN Group, Saudi Arabia's leading real estate developer and PIF-owned giga-project, has signed a Memorandum of Understanding (MoU) with the Electric Vehicle…

Asharq Al Awsat (Riyadh)
Business Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the 47th edition of the Baghdad International Fair Wednesday. (Iraqi premiership website)

Iraqi Prime Minister Inaugurates Baghdad International Fair, Thanks Saudi Arabia

Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the 47th edition of the Baghdad International Fair Wednesday featuring Saudi Arabia as the guest of…

Asharq Al Awsat (Baghdad)
Business Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. (Reuters)

Aramco, KAUST to Form Consortium for Nonmetallics and Composites in Energy Applications

The King Abdullah University of Science and Technology (KAUST) has signed an agreement with Aramco to establish a technology consortium focusing on performance…

Business The Saudi Ministry of Industry and Mineral Resources announced on Wednesday the preferred bidders in the fourth series of the licensing rounds conducted as part of the Accelerated Exploration Program initiative.

Saudi Ministry of Industry Announces Preferred Bidders for 3 Exploration Sites

The Saudi Ministry of Industry and Mineral Resources announced on Wednesday the preferred bidders in the fourth series of the licensing rounds conducted as…

Business Saudi Premium Residency Center Launches 5 Products to Attract Talents, Investors, Entrepreneurs

Saudi Premium Residency Center Launches 5 Products to Attract Talents, Investors, Entrepreneurs

In line with the vision of Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, Chairman of the Board of the Premium Residency…

Business COSCO has suspended shipping to Israel via the Red Sea over rising tensions in those waters. Reuters

Oil Tankers Continue Red Sea Movements despite Houthi Attacks

Israel's Transport Ministry on Tuesday said it was seeking to clarify Chinese shipper COSCO's reported decision to halt shipping to Israel. Israeli…

Asharq Al Awsat (Jerusalem) Asharq Al Awsat (Houston)
Business The Kingdom sold $12 billion worth of US dollar bonds on Tuesday. (SPA)

Saudi Arabia Issues $12 Billion in Dollar Bonds in 3 Tranches

Saudi Arabia’s National Debt Management Center (NDMC) has completed the first offering of international bonds in 2024 at a value of SR 45 billion ($12 billion)…

Asharq Al Awsat (Riyadh)
Business The Minister of Industry and Mineral Resources speaking to the audience during the ministerial meeting. (Photo by: Bashir Saleh)

Saudi Arabia Collaborates with Other Countries to Explore Critical Minerals in the Region

Several ministers underlined the necessity of integrated work to explore the mining wealth in the region, including critical minerals, noting that Saudi Arabia…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Active pumpjacks from oil wells are pictured at the Inglewood Oil Field, the largest urban oil field in the United States, from the Baldwin Hills Scenic Overlook in Culver City, California, US, March 10, 2022. REUTERS/Bing Guan/File Photo

Oil Climbs a Second Day

Oil rose for a second day on Wednesday after an industry report showed a bigger-than-expected drawdown of crude inventories in the United States, the world's…

Asharq Al Awsat
Business People pose for photographs at a 2024 New Year's signage at a shopping district in Beijing, China, 05 January 2024. (EPA)

World Bank Forecasts 2024 Global Growth to Slow for Third Consecutive Year

The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many…

Business A Saudi man checks the flight timings at the King Khalid International Airport, in Riyadh, Saudi Arabia, May 16, 2021. (Reuters)

MATARAT Holding Launches 'Passengers with No Bags' Service Across Saudi Airports

MATARAT Holding launched the "Passengers with No Bags" service across Saudi airports, which offers travelers the ability to ship their luggage ahead from home…

Business The three-day program covers a spectrum of topics and delves into innovations in mining operations. (SPA)

Saudi Arabia Launches Training Program in Mining Sector for GCC Citizens

Prince Faisal bin Khalid bin Sultan, Governor of Saudi Arabia’s Northern Borders Region, kicked off the training program for Gulf Cooperation Council (GCC)…

Business The Electric Vehicle Infrastructure Company supports economic diversification efforts in Saudi Arabia. (EVIQ)

Saudi Arabia Prepares Infrastructure to Increase Use of Electric Vehicles

Saudi Arabia is taking rapid steps to enhance the future of the electric car industry towards achieving its national strategy in Vision 2030, by reducing…

Business The Saudi Saline Water Conversion Corp (SWCC) is set to sign several agreements during the Future Minerals Forum (FMF) in Riyadh that will kick off on Wednesday. (Asharq Al-Awsat)

Saudi SWCC Plans to Conclude Agreements in Mining at Future Minerals Forum

The Saudi Saline Water Conversion Corp (SWCC) is set to sign several agreements during the Future Minerals Forum (FMF) in Riyadh that will kick off on…

Business King Abdullah Financial Center in the capital, Riyadh (SPA)

Saudi Arabia Tops MENA Venture Capital Rankings for 2023

Saudi Arabia achieved first rank across MENA for the first time regarding the amount of Venture Capital (VC) funding in 2023, according to MAGNiTT, the MENA…

Asharq Al Awsat
Business The third edition of the Future Minerals Forum (FMF) 2024 will kick off in Riyadh on Wednesday. (SPA)

Future Minerals Forum Unites Global Leaders in Saudi Arabia to Shape the Future of the Industry

The third edition of the Future Minerals Forum (FMF) 2024, held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, will…

Asharq Al Awsat (Riyadh)
Business Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)

Saudi Ambassador to US to Chair Int’l Women in Defense Program at World Defense Show

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program, which aims to…

Business The Omani Ministry of Energy signed the oil and gas exploration concession agreement with the Lebanese CC Energy Development (Omani News Agency)

Oman Energy Ministry Signs Concession Agreement with Lebanon's CC Energy Development

Oman's energy ministry signed a concession agreement with Lebanon's CC Energy Development (CCED) for oil and gas exploration in concession areas number 38 and…

Asharq Al Awsat (Muscat)
Business The service enables exemption from customs duties, which raises the level of competitiveness of national products. (SPA)

Saudi Arabia to Implement Project that Improves Procedures for Customs Exemptions

The Saudi government is currently working on a project to improve procedures for customs exemptions and empower the industrial sector by raising the level of…

Bandar al-Mosalam (Riyadh)
Business According to the Labor Observatory statistics, the total number of workers in the private sector reached about 10.9 million. (SPA)

In a First, Saudi Private Sector Employs 44,700 Citizens in a Month

The National Labor Observatory (NLO) reported that December 2023 saw 44,770 employees join the local private sector. According to the Labor Observatory…

Business TASI50 index serves as a benchmark for exchange-traded funds (ETFs), futures, options, and other financial products (Asharq Al-Awsat)

Tadawul Launches TASI50 to Track Top 50 Listed Companies

The Saudi Exchange Co. (Tadawul) launched on Sunday the TASI50 Index, which tracks the top 50 companies ranked by total market capitalization listed on the…

Asharq Al Awsat
Business Al-Dukheil Financial Group has been appointed financial adviser and book-runner for the IPO, while al-Inma Investment is acting as lead manager (Avalon Pharma)

Saudi Avalon Pharma Prepares for IPO on Main Market

Saudi pharmaceutical manufacturer Middle East Pharmaceutical Industries Company, Avalon Pharma, said it would sell shares on the Saudi Exchange's Main Market…

Asharq Al Awsat (Riyadh)