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 Northern Borders Investment Forum hall (Asharq Al-Awsat)

Saudi Arabia: Arar Prepares to Explore $6 Bn Investment Opportunities

The Northern Borders Investment Forum in Arar, northern Saudi Arabia, is expected to reveal investment opportunities worth approximately $6 billion in various…

Asharq Al Awsat (Arar)
Business Turkish Central Bank raised interest rates double the expected. (The central bank’s website)

Turkish Central Bank Raises Interest Rates to 40%

Türkiye’s central bank raised its policy rate by a larger-than-expected 500 basis points to 40% on Thursday, in an unexpected step. The central bank is…

Saeed Abdulrazek (Ankara)
Business The Jeddah Islamic Port (SPA)

Saudi Trade Surplus Rises to $12 Billion

Saudi Arabia’s trade surplus continued to rise for the second consecutive month, registering 44 billion riyals (around $12 billion) in September. This figure…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia's -Qasabi meets the Algerian Minister of Trade and Export Promotion (SPA)

Riyadh, Algiers to Enhance Economic Cooperation, Increase Trade

Algerian Minister of Trade and Export Promotion Tayeb Zitouni said that his country and Saudi Arabia were seeking to accelerate mechanisms to enhance bilateral…

Fatehelrahman Yousif (Riyadh)
Business Prince Abdulaziz bin Salman Al Saud, Minister of Energy and Chairman of the Saudi Arabia member committee. (SPA)

World Energy Congress 2026 to be Hosted by Saudi Arabia

The World Energy Council has announced Riyadh, Saudi Arabia as the official host of the 27th World Energy Congress to be held 26-29 October 2026, SPA said on…

Asharq Al Awsat
Business Erdogan and the Algerian prime minister during an economic forum on Tuesday. (Turkish presidency) 

Türkiye Extends LNG Supply Deal with Algeria Until 2027

Türkiye has extended its liquefied natural gas (LNG) supply deal with Algeria for three years, as the two countries agreed to boost trade to $10 billion. …

Saeed Abdulrazek (Ankara)
Business Khalid Al-Mudaifer, Saudi vice minister for mining affairs, tours the exhibition at the 25th Arab International Aluminum Conference in Riyadh (Asharq Al-Awsat)

Saudi Arabia Advances Toward Becoming Global Hub for Metal Production

With the aluminum sector emerging as a significant contributor to a more sustainable future through clean energy, the mining and metals industry is slated to…

Asharq Al Awsat (Riyadh)
Business The World Bank launched a report on the economic updates in the GCC countries. (Asharq Al-Awsat)

World Bank Forecasts 3.6% Growth in GCC in 2024

The Gulf Cooperation Council (GCC) region is estimated to grow by 1% in 2023 before picking up again to 3.6 and 3.7 % in 2024 and 2025, respectively, according…

Asharq Al Awsat (Riyadh)
Business Safaa El-Kogali, the World Bank's Country Director for the Gulf Cooperation Council (GCC) countries (Asharq Al-Awsat)

World Bank: Saudi Arabia Leads Arab World in Advancing Women's Workforce Participation

In a pivotal era marked by remarkable advancements in the economic involvement of women in the Gulf, specifically in Saudi Arabia, Safaa El-Kogali, the World…

Fatehelrahman Yousif (Riyadh)
Business An undated handout picture released by the Royal Mint, received in London on November 15, 2023 shows the reverse of gold and silver bullion James Bond-themed coins unveiled to celebrate six decades of 007. (Photo by Royal Mint / AFP)

Gold Gains as Softer US Dollar, Yields Lift Demand

Gold prices rose on Thursday, hovering close to a key $2,000 per ounce level, as a weaker US dollar and lower Treasury yields buoyed demand for bullion. …

Asharq Al Awsat
Business (FILES) The logo of OPEC is pictured at the OPEC headquarters on the eve of the 171th meeting of the Organization of the Petroleum Exporting Countries in Vienna, on November 29, 2016. (Photo by JOE KLAMAR / AFP)

OPEC+ Postpones Policy Meeting to Nov 30

OPEC+ has delayed a ministerial meeting expected to discuss oil output cuts to Nov. 30 from Nov. 26, OPEC+ sources said. The Sunday meeting had been…

Asharq Al Awsat (Vienna)
Business President of the International Fund for Agricultural Development (IFAD) Alvaro Lario (Asharq Al-Awsat)

IFAD President: Saudi Arabia Key Partner in Global Efforts Against Climate Challenges

In a time where warnings about overlooking the crises of climate change, food scarcity, and water scarcity are prevalent, Alvaro Lario, the President of the…

Fatehelrahman Yousif (Riyadh)
Business An offshore gas platform. (Reuters)

Shell Announces Discovery of New Gas-Bearing Reservoir in Egypt

Shell Egypt announced it discovered a new gas-bearing reservoir in the Northeast el-Amriya block in Egypt’s Mediterranean Sea. The company said in a…

Sabry Nageh (Cairo)
Business King Salman Humanitarian Aid and Relief Center (KSrelief) Supervisor-General Abdullah al-Rabeeah (SPA)

Rabeeah: KSRelief Provided Over $2 Bn in Food Security

King Salman Humanitarian Aid and Relief Center (KSRelief) provided over $2 billion in food security projects and $179 million for nutrition-related activities,…

Asharq Al Awsat (London)
Business Photo of the workshop recently held by the Saudi Bar Association and the Riyadh Region Bar Committee (Asharq Al-Awsat)

Saudi Arabia Increases Efficiency of Legal Environment for Business Sector by Applying Int’l Practices

Saudi Arabia is developing a diverse business environment by expanding the application of legal concepts in a way that aligns with the goals of Vision 2030. …

Asharq Al Awsat (Riyadh)
Business Secretary-General of the Arab League Ahmed Aboul Gheit. (Asharq Al-Awsat)

Aboul Gheit: Arab-British Economic Summit Presents Opportunity to Boost Bilateral Cooperation

Secretary-General of the Arab League Ahmed Aboul Gheit underscored on Monday the significance of the third Arab-British Economic Summit in enhancing economic…

Business Israelis shop at a market in Tel Aviv during the COVID-19 pandemic. (File photo: Reuters)

Unemployment on the Rise in Israel Due to War on Gaza

The unemployment rate tripled in Israel to reach ten percent in October after the outbreak of war with the Hamas movement, which led to the displacement of…

Business The Tamar gas platform off the coast of Israel. (Chevron)

S&P Warns of Longterm Shortage in Egypt's Gas Supply

Standard & Poor's warned that the escalation of Israel's war in Gaza may leave Egypt facing a long-term shortage in gas supplies. In a report seen by…

Sabry Nageh (Cairo)
Business The agreement is evidence of the strength of the Saudi economy and its importance on the global economic map (Reuters)

Saudi-China Currency Swap Deal Strengthens Bilateral Trade Exchange

The Saudi Central Bank and its Chinese counterpart, the People’s Bank of China, have announced the signing of a currency swap agreement totaling 50 billion…

Mohammed al-Mutairi (Riyadh)
Business The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)

Saudi Tourism Authority Participates in Qatar Int'l Exhibition for Tourism and Travel

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November…

Asharq Al Awsat
Business Officials are seen at the International Forum and Exhibition for Sustainable Agriculture (IFESA) in Riyadh. (SPA)

First Int’l Forum and Exhibition for Sustainable Agriculture Kicks off in Riyadh

Saudi Minister of Agriculture, Environment and Water, Eng. Abdulrahman Al-Fadhly inaugurated on Monday the inaugural International Forum and Exhibition for…

Business Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and the Chairman of the Human Capability Development Program Committee. (SPA)

Saudi Arabia to Hold Human Capability Initiative in Feb 2024

The inaugural edition of the Human Capability Initiative (HCI) will be held in RIyadh on February 28-29, 2024. The event will be held under the patronage…

Business China's President Xi Jinping (L) arrives for the APEC Economic Leaders' Retreat, during the annual Asia-Pacific Economic Cooperation conference at the Moscone West Convention Center in San Francisco, California, USA, 17 November 2023. (EPA)

China Wants More Investment from French Firms, Xi Tells Macron

China wants more French companies to invest in the country and hopes France will provide a fair business environment for Chinese firms, President Xi Jinping…

Business Riyadh Air, the new national air carrier wholly owned by the Public Investment Fund, participated in the Dubai Airshow 2023. (Asharq Al-Awsat)

Riyadh Air Presents Features of its Future at Dubai Air Show

Riyadh Air, the new national air carrier wholly owned by the Public Investment Fund, participated in the Dubai Airshow 2023 last week, revealing two categories…

Asharq Al Awsat (Riyadh)