Business

IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

Business IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International…

Asharq Al Awsat
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 The second edition of the world’s fastest growing cybersecurity event "Black Hat" was launched Tuesday at the Riyadh Front Exhibition & Conference Center (RFECC). SPA

2nd Edition of World’s Fastest Growing Cybersecurity Event ‘Black Hat’ Launched in Riyadh

The second edition of the world’s fastest growing cybersecurity event "Black Hat" was launched Tuesday at the Riyadh Front Exhibition & Conference Center …

Asharq Al Awsat (Riyadh)
Business Saudi Aramco has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule.

Aramco Produces First Unconventional Tight Gas at South Ghawar

Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first unconventional tight gas from its South…

Business The Saudi-Indian Roundtable meeting was held in Riyadh in October. (SPA)

Major Indian Firms to Discuss Expanding Partnership with Saudi Counterparts

Asharq Al-Awsat has learned that a delegation representing major Indian companies intends to visit Riyadh from November 14-16 to hold bilateral meetings,…

Bandar al-Mosalam (Riyadh)
Business Officials during the signing ceremony in Rabat on Monday. (Asharq Al-Awsat)

Morocco, Azerbaijan Sign 5 Agreements and MoUs

Morocco and Azerbaijan signed in Rabat on Monday five agreements and memorandums of understanding (MoUs) aimed at strengthening bilateral cooperation in…

Asharq Al Awsat (Rabat)
Business GACA is showcasing the strategy, along with various investment opportunities in civil aviation at regional and global levels - SPA

GACA Showcases Promising Saudi Aviation Opportunities at Dubai Airshow

The General Authority for Civil Aviation (GACA) pavilion at the 18th Dubai Airshow is highlighting the promising opportunities within the Saudi aviation sector…

Asharq Al Awsat
Business The investment demonstrates PIF’s broader efforts to develop Saudi Arabia’s equipment and service landscape and support the growth of promising private sector companies to further develop the industrial ecosystem and increase export revenues.

PIF Signs Agreement to Invest in Alkhorayef Petroleum

Saudi Arabia’s Public Investment Fund (PIF) announced on Monday the signing of a share subscription agreement to invest in Alkhorayef Petroleum, from…

Business FILE PHOTO: Gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse//File Photo

Gold Holds Steady as Market Awaits US Inflation Data

Gold prices steadied near a three-week low on Monday as investors awaited key US inflation data due this week to gauge the Federal Reserve's interest rate path…

Asharq Al Awsat
Business Riyadh Air unveiled the second of its permanent dual-livery designs at the Dubai Airshow 2023. (SPA)

Riyadh Air Unveils Its Second Dual-Livery Design at Dubai Airshow 

Riyadh Air, Saudi Arabia’s new airline wholly owned by the Public Investment Fund (PIF), set to be operational in 2025, unveiled the second of its permanent…

Business Private sector companies attracted 49,300 Saudis in October. (Asharq Al-Awsat)

Govt Incentives Support Sustainability of Saudi Employment in Private Sector

Three main factors provided by the Saudi government have helped sustain the employment of citizens in the private sector over the past years. Those…

Business The Saudi Power Procurement Company (Principal Buyer) recently signed two power purchase agreements with a total capacity of 1,500 megawatts. (Asharq Al-Awsat)

Saudi Arabia Releases RFQ for Solar Projects

Saudi Arabia released a request for qualification for competition for four new solar projects within the fifth phase of the National Renewable Energy Program …

Asharq Al Awsat (Riyadh)
Business GCC Secretary-General Jasem Albudaiwi speaks at the Gulf-Türkiye Economic Forum. (Asharq Al-Awsat)

Gulf-Türkiye Economic Forum Focuses on Investment Opportunities

The Gulf Cooperation Council (GCC) countries are keen to strengthen economic and trade cooperation with Türkiye based on the depth of the brotherly relations…

Business Raed Ismail, Director of Direct Investments in the Middle East and North Africa at the Public Investment Fund (Asharq Al-Awsat)

PIF: Advancing Development of Saudi Aviation Sector System

Saudi Arabia’s aviation sector, identified as a strategic focus for the Public Investment Fund (PIF), is undergoing continuous development as part of Saudi…

Mosaed al-Zayani (Riyadh)
Business An investor walks past the logo of the Saudi Stock Exchange (Tadawul) in Riyadh. (AFP)

Rising Subscriptions, Digital Banking Boost Saudi Telecom Profits in Q3

Telecommunications companies listed on the Saudi stock market (Tadawul) achieved a 43% growth in their quarterly profits during Q3 of 2023, reaching SAR 5.7…

Mohammed al-Mutairi (Riyadh)
Business  This file photo taken on October 17, 2017 shows excess flammable gasses burning from gas flares at the Havana oil field, west of the multi-ethnic northern Iraqi city of Kirkuk. (AFP)

Iraq to Reach Deal to Resume Kurdistan Oil Output within Three Days, Says Minister

Iraqi oil minister Hayan Abdel-Ghani expects to reach an agreement with the Kurdistan Regional Government (KRG) and foreign oil companies to resume oil…

Business FILE PHOTO: PetroChina's petrol station is pictured in Beijing, China, March 21, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Petrochina to Replace Exxon as Lead Contractor for Iraq's West Qurna 1 Oilfield

Iraq has signed a settlement agreement with US energy giant Exxon Mobil Corp to finalize its exit from the West Qurna 1 oilfield and allow Petrochina to become…

Asharq Al Awsat
Business ADNOC Drilling will own 51% of the JV with Alpha Dhabi holding 49%. WAM

UAE’s ADNOC Drilling, Alpha Dhabi to Establish Strategic Partnership

ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC have agreed to establish a strategic investment joint venture (JV) to invest up to AED 5.5 billion ($1…

Asharq Al Awsat (Abu Dhabi)
Business European Central Bank President Christine Lagarde (Reuters)

Lagarde: Eurozone Inflation Could Tick up in Coming Months

Eurozone inflation could tick up in the coming months but European Central Bank interest rates held at their current level at least for several quarters could…

Asharq Al Awsat
Business The Parkovyi footbridge spanning over Dnieper river is illuminated in the evening in Kyiv, Ukraine, 10 November 2023, amid the Russian invasion.  EPA/SERGEY DOLZHENKO

IMF Says Staff Agreement with Ukraine Could Allow $900 Mln Disbursement

The International Monetary Fund on Friday announced a staff-level agreement with Ukraine on updated economic and financial policies, paving the way for a $900…

Asharq Al Awsat
Business FILE PHOTO: Signage is seen outside the Moody's Corporation headquarters in Manhattan, New York, US, November 12, 2021. REUTERS/Andrew Kelly/File Photo

Moody's Turns Negative on US Credit Rating

Moody's on Friday lowered its outlook on the US credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a…

Asharq Al Awsat
Business Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, at the Saudi-African Summit in Riyadh on Friday. (SPA)

Saudi Arabia Launches Development Initiative in Africa Worth over $1 Billion

Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, deputizing for Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud,…

Business The Minister of Energy during the dialogue session on the sidelines of the Saudi-Arab-African Conference (Asharq Al-Awsat)

Saudi Energy Minister: It is Important to Provide Clean, Sustainable Energy for Africa

Access to clean and sustainable energy is important for Africa, announced Saudi Energy Minister Prince Abdulaziz bin Salman at the Saudi-Arab-African Economic…

Asharq Al Awsat (Riyadh)
Business The company has made a technological revolution in the management of residential and commercial facilities and services at its main headquarters. (Aramco)

Aramco Wins Global Infrastructure Award

Saudi Aramco has been recognized on the world stage for its adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology. An awards…

Asharq Al Awsat (Barcelona)
Business Bandar Alkhorayef, the Saudi Minister of Industry and Mineral Resources (Asharq Al-Awsat)

Alkhorayef: Saudi Arabia Raises Mining Sector’s Economic Contribution Target to $80B

Bandar Alkhorayef, the Saudi Minister of Industry and Mineral Resources, revealed that the Kingdom has raised its target for the contribution of the mining…

Asharq Al Awsat (Riyadh)
Business The Saudi Minister of Finance addressing the audience at the opening of the Saudi-African Conference (Asharq Al-Awsat)

Riyadh Conference Explores Untapped Economic Opportunities in Africa

The Saudi-African Conference held in Riyadh is serving as a platform for Saudi Arabia to declare its support for the African continent, whose growth is deemed…

Bandar al-Mosalam (Riyadh)