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 In a session entitled "Accelerated Progress in the Labor Market" at the Global Labor Market Conference, Al-Khateeb referred to the inauguration of the National Tourism Strategy in 2019. SPA

Saudi Tourism Minister: Kingdom to Provide 250,000 Jobs while Hosting Expo 2030

Saudi Minister of Tourism Ahmed Al-Khateeb said Thursday the Kingdom will provide 250,000 jobs during its hosting of the Expo 2030 in Riyadh. He stressed…

Asharq Al Awsat (Riyadh)
Business File photo: The summit saw active participation from the Saudi delegation. (SPA)

Chairman of G20 Saudi Young Entrepreneurs Alliance Highlights Importance of Startup Sustainability in Arab Countries

Chairman of G20 Saudi Young Entrepreneurs’ Alliance (YEA) Prince Fahad bin Mansour bin Nasser bin Abdulaziz has emphasized the importance of ensuring the…

Asharq Al Awsat
Business The Saudi flag. Asharq Al-Awsat

Saudi Arabia to Host Arab Energy Conference in 2027

Saudi Arabia will host the 13th Arab Energy Conference in its capital, Riyadh, in 2027. Participants at the 12th edition of the conference held in Doha,…

Asharq Al Awsat (Riyadh)
Business COP28 President Sultan al-Jaber attends a plenary session at the COP28 UN Climate Summit, Wednesday, Dec. 13, 2023, in Dubai, United Arab Emirates. (AP Photo/Kamran Jebreili)

Delegates at UN Climate Talks in Dubai Agree to 'Transition Away' from Planet-warming Fossil Fuels

United Nations climate negotiators directed the world on Wednesday to transition away from planet-warming fossil fuels in a move the talks chief called…

Asharq Al Awsat
Business The second edition of the Operational Excellence Conference (OPEXKSA) kicked off in Riyadh on Dec. 12.

Saudi Arabia Boosts Operational Excellence Across Sectors

Experts, both local and international, are emphasizing the significance of implementing operational excellence due to its pivotal role in enhancing the…

Asharq Al Awsat
Business The planned acquisition is Aramco’s first entry into the Pakistani fuels retail market. Aramco website

Aramco to Acquire 40% Stake in Gas & Oil Pakistan

Saudi Aramco has signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”). GO, a diversified downstream fuels,…

Asharq Al Awsat
Business A Ryanair airplane is seen at Palermo Falcone and Borsellino airport, Italy July 10, 2016. (Reuters)

Ryanair to Start Morocco Domestic Flights in Summer 2024

The Moroccan government has given its go ahead for Ryanair to operate domestic flights in the country starting next summer, Morocco's tourism minister said. …

Business At a press conference, the Ministry of Industry and Mineral Resources (MIM) announced details of the third edition of the Future Minerals Forum (FMF), to be held in Riyadh, Saudi Arabia.

Al-Mudaifer: Global Mining Investments Insufficient for Renewable Energy Transition

Substantial investments are needed in the mining sector to facilitate the transition to renewable energy and achieve carbon neutrality, revealed Saudi Vice…

Asharq Al Awsat (Riyadh)
Business Energy ministers of Arab countries during the opening of the Arab Energy Conference in Doha (Asharq Al-Awsat)

OPEC Secretary General Warns of Price Hike in All Commodities

Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham al-Ghais warned Monday of price increases in commodities and other…

Asharq Al Awsat (Doha)
Business Saudi Ministry of Tourism Building (File Photo AAWSAT AR)

Saudi Arabia Ranks World’s 2nd Fastest Growing Tourism Destination

Saudi Arabia ranked second place as the fastest-growing tourist destination in the world, according to a report of the United Nations World Tourism…

Asharq Al Awsat
Business Butter, oil, and flour on the shelves in a grocery store in Cairo, Egypt (Reuters)

Egypt to Raise Minimum Wage to $113 Month from January

Egypt's government will raise the minimum wage paid by the private sector to 3,500 Egyptian pounds ($113) a month as of Jan. 1, according to a decision…

Asharq Al Awsat
Business Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)

NEOM Launches TOPIAN to Create Sustainable Food Systems

NEOM on Sunday announced the launch of Topian, the NEOM Food Company, which aims to create sustainable food systems and redefine the ways food is produced,…

Asharq Al Awsat (Neom)
Business Pumpjacks are seen in an oil field. (Reuters)

Oil Extends Gains on US Strategic Reserve Purchases

Oil prices rose on Monday, extending gains for a second session as US efforts to replenish strategic reserves provided some support, although concerns of crude…

Asharq Al Awsat
Business The regional headquarters program has so far attracted 200 foreign companies. (Asharq Al-Awsat)

Global Financial Company Northern Trust Moves its Regional Headquarters to Riyadh

Northern Trust Corp. has become one of the first major global financial institutions to establish its regional headquarters in Riyadh, which strengthens the…

Asharq Al Awsat (Riyadh)
Business Expo Dubai hosts the COP28 summit (Reuters)

COP28 Sees Calls for Balance, Realism in Dealing with Energy File

As the negotiations in COP28 entered the heated stages, discrepancy between countries regarding the position on traditional fuels increased. While Western…

Mosaed al-Zayani (Dubai) Ahmed al-Ghemrawi (Dubai)
Business A woman balances her bowl as she walks in the Old Cairo district of Cairo, Egypt, Friday, Dec. 8, 2023. (AP Photo/Amr Nabil)

Egypt's Headline Inflation Dips to 34.6% in November

Egypt's annual urban consumer price inflation dropped to 34.6% in November from 35.8% in October, pulled down by a slowdown in the rate of food price increases…

Asharq Al Awsat
Business A square in the Tunisian capital (Reuters)

Fitch Affirms Tunisia at CCC-, Expects Growth to Fall to 0.9%

Fitch Ratings on Saturday affirmed Tunisia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at "CCC-," also expecting growth to fall to 0.9% of GDP in…

Asharq Al Awsat (Tunis)
Business Saudi Arabia is seeking to increase investments and trade exchange worldwide. (Asharq Al-Awsat)

China-Saudi Investment Conference to Kick off in Beijing Next Tuesday

China will be hosting the China-Saudi Investment Conference in Beijing next Tuesday, SPA said on Saturday. The Ministry of Investment is organizing the event…

Asharq Al Awsat
Business Sultan Al Jaber, President of COP28, alongside the Singaporean Minister of Environment and the Norwegian Minister of Environment in a press conference on Friday (AP)

COP28 Nears Crucial Hours as Divergence Takes Center Stage

COP28 president Sultan Al Jaber has urged countries to get out of their comfort zones and work together to reach an agreement before the two-week United…

Ahmed al-Ghemrawi (Dubai)
Business Morocco's flag with a woman's shadow seen on it. AFP file photo

Morocco Joins International Campaign to Phase out Coal

Morocco on Friday joined an international campaign to phase out coal, as it plans to secure more than half of its energy needs from renewables in the next…

Asharq Al Awsat
Business FILE PHOTO: Chess pieces are seen in front of displayed US and EU flags in this illustration. REUTERS

EU Considers Restarting WTO Case Against US Over Steel Tariffs

The European Union is considering reopening a case at the World Trade Organization against the United States over a steel and aluminum dispute that saw the…

Asharq Al Awsat (Brussels)
Business Women buy food from a roadside stall in Colombo, Sri Lanka, Friday, Dec. 8, 2023. (AP Photo/Eranga Jayawardena)

FAO: World Food Prices Hold Steady in November

The United Nations food agency's world price index held steady in November, with lower international cereal prices offset by higher prices of vegetable oils…

Asharq Al Awsat (Rome)
Business Saudi Arabia and the Hong Kong have signed a memorandum of understanding (MoU) that aims at encouraging direct investments. SPA

Saudi Arabia, Hong Kong Sign MoU on Enhancing Direct Investments

Saudi Arabia and the Hong Kong Special Administrative Region of the People's Republic of China have signed a memorandum of understanding (MoU) that aims at…

Asharq Al Awsat
Business Al-Swaha met with the CEO of Google and Alphabet in Silicon Valley. SPA

Al-Swaha Meets with CEO of Google, Alphabet to Support Growth of Digital Economy

Saudi Minister of Communications and Information Technology (CIT) Eng. Abdullah bin Amer Al-Swaha met in Silicon Valley in California on Friday with the CEO of…

Asharq Al Awsat (Riyadh)