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 Turkish Minister of Treasury and Finance Mehmet Semsek participates in the forum, along with the Egyptian Minister of Finance, the Kuwaiti Minister of Oil and the Minister of State and President of Qatari Free Zones. (Asharq Al-Awsat)

Turkish-Arab Economic Forum Calls for Raising Level of Regional Trade Integration

The Turkish-Arab Economic Forum called for speeding up efforts to raise the level of trade integration between the countries of the region, as the volume of…

Saeed Abdulrazek (Ankara)
Business Palestinians walk through a ravaged street following Israeli airstrikes on Gaza City, on October 10, 2023. (AFP)

Stark UN Report on Devastation to Palestinian Economy Shows GDP Fell 4% after a Month of War

A UN report paints a stark picture of the devastation of the collapse of the Palestinian economy after a month of war and Israel’s near-total siege of Gaza. …

Asharq Al Awsat
Business NEOM has opened its first international office in London, United Kingdom (UK).

NEOM Opens London Office as Base for UK, European Business

NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first international office in London, United Kingdom (UK),…

Asharq Al Awsat
Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz signed five memorandums of understanding with a number of African countries. SPA

Saudi Arabia, African Countries Sign MoUs in Different Energy Fields

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz signed on Thursday five memorandums of understanding with a number of African countries,…

Asharq Al Awsat (Riyadh)
Business The signing ceremonies took place at the Saudi-Arab-African Economic Conference held in Riyadh. SPA

Saudi Fund for Development Provides Over $580 Million in Development Loans to African States

The Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad signed on Thursday 14 new development loan agreements with 12 African ministers,…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Investment Khalid Al-Falih at the Bloomberg New Economy Forum in Singapore (Bloomberg)

Saudi Arabia Licenses 180 Firms to Set up Regional HQs, Exceeds Target

Saudi Arabia issued licenses to 180 companies to set up regional headquarters in the Kingdom, surpassing the targeted 160, according to Minister of Investment…

Asharq Al Awsat (Riyadh)
Business A model of an LNG tanker appears in front of the Qatari flag in this illustration taken on May 19, 2022. (Reuters)

S&P Expects Qatar’s Economy to Slow Down by 2% in 2023

Qatar’s economy is expected to slow down by 2 percent for the remainder of 2023, says S&P Global Ratings. This after it grew by 5 percent in 2022, boosted by…

Asharq Al Awsat (Doha)
Business ACWA Power confirms its commitment with its partners to accelerate decarbonization efforts worldwide. (The company’s website)

ACWA Power, Masdar, SOCAR to Develop 500 MW Renewable Energy Projects in Azerbaijan

Saudi Arabia’s ACWA Power plans to develop 500 megawatts of renewable energy projects in Azerbaijan in partnership with Abu Dhabi Future Energy Co. (Masdar),…

Asharq Al Awsat (Riyadh)
Business The director of the National Information Center at the Saudi Data and AI Authority (SDAIA) confirmed that the Kingdom has launched initiatives in the field of smart cities. SPA

SDAIA: Saudi Arabia is a Pioneer in Smart City Initiatives

The director of the National Information Center at the Saudi Data and AI Authority (SDAIA), Dr. Esam bin Abdullah Al-Wagait, confirmed that the Kingdom has…

Asharq Al Awsat (Barcelona)
Business Artistic paintings and singing performances impressed the forum’s guests (Asharq Al-Awsat)

Saudi Arabia Shows the World its Vision for Expo Riyadh 2030

The closing forum to host the Riyadh Exhibition (Expo 2030), which was held by the Royal Commission for the City of Riyadh, was successful by all standards. …

Michel Abu Najm (Paris)
Business A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Saudi Arabia Exempts Investors Holding Diplomatic Passports from Business Visa Fees

The Saudi Ministry of Foreign Affairs, in cooperation with the Ministry of Investment, launched on Monday the second phase of the “Investor Visitor” e-visa…

Bandar al-Mosalam (Riyadh)
Business The two agreements will work on achieving the country’s targets to reach 50% of solar energy and other energy sources. (Asharq Al-Awsat)

Saudi Arabia Speeds Up Efforts to Replace Liquid Fuels in Electricity Production

As part of the Saudi government’s efforts to achieve global leadership and the optimal mix in the renewable energy sector, the Kingdom is making accelerated…

Asharq Al Awsat (Riyadh)
Business Tunisia's Central Bank (Reuters)

World Bank Forecasts Tunisia's GDP Growth to Decline to 1.2% during H1/23

Tunisia has been facing significant economic challenges for years, exacerbated by the COVID-19 pandemic and the war in Ukraine, leading to slower economic…

Asharq Al Awsat (Tunis)
Business The Bank of Israel in Jerusalem. (Reuters)

In a First, Bank of Israel Dips into Reserves to Save the Shekel

The Bank of Israel sold $8.2 billion of foreign currency in October to help prevent the sharp decline of the shekel, it said on Tuesday. It is the first…

Business Saudi Aramco President and CEO Amin H. Nasser. (SPA file photo)

Saudi Aramco Shares Inch Up Despite Net Profit Drop

Saudi Aramco on Tuesday reported a 23% fall in third-quarter net profit on the back of lower oil prices and volumes sold, marginally beating analyst estimates…

Business People sitting at a restaurant along the Corniche Al Manara in the Lebanese capital Beirut on November 5, 2023 (AFP)

Tourism in Egypt, Lebanon, Jordan Could Incur $16.1B amid Hamas-Israel War

After a month has passed since the war between Israel and Hamas, neighboring countries are facing significant economic challenges, especially Lebanon, Jordan,…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail speaks at the Saudi Proptech Summit. (Asharq Al-Awsat)

Saudi Arabia Launches Real Estate Registry, Indicators Platforms

Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail launched…

Asharq Al Awsat (Riyadh)
Business The report aims to showcase the opportunities in the sector, promote investment and fair competition, and support space investors and entrepreneurs. (SPA)

Size of Saudi Space Market Reaches $400 Mn in 2022

The Saudi Communications, Space, and Technology Commission (CST) published the Space Market Investment Opportunities Report, highlighting the Kingdom’s space…

Business N/A

Riyadh Welcomes Global Investors with Open Arms

Saudi Arabia’s ministries of investment and of foreign affairs have launched the second phase of issuing a “Visiting Investor” business visit e-visa, to…

Bandar al-Mosalam (Riyadh)
Business Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum said the 2024-2026 budget sets a financial road map to accelerate Dubai's ambitions. (Reuters)

Dubai Approves General Budget for 24/26 Fiscal Cycle with $67 Bn in Expenditures  

UAE Vice President and Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, approved Dubai's general budget for the fiscal cycle of 2024-2026,…

Asharq Al Awsat (Dubai)
Business Riyadh Air, the new Saudi air carrier (Asharq Al-Awsat)

Riyadh Air to Purchase ‘Narrowbody’ Jets in Coming Weeks

Riyadh Air will announce a deal to purchase a “sizeable” number of "narrowbody" aircraft in the coming weeks, announced CEO Tony Douglas. Douglas told…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London.

Tourism Minister Inaugurates Saudi Pavilion at WTM London

Minister of Tourism Ahmed bin Aqeel Al-Khateeb on Monday inaugurated the Saudi pavilion at the World Travel Market (WTM) exhibition in London, SPA said on…

Asharq Al Awsat
Business Saudi Arabia’s Public Investment Fund (PIF) announced on Monday its voluntary compliance with the Global Investment Performance Standards (GIPS®) from CFA Institute.

PIF Announces Voluntary Compliance with Global Investment Performance Standards from CFA Institute

Saudi Arabia’s Public Investment Fund (PIF) announced on Monday its voluntary compliance with the Global Investment Performance Standards (GIPS®) from CFA…

Business A general view of Riyadh, Saudi Arabia. (SPA)

RCRC Establishes Center for Riyadh Special Economic Zones to Boost Business Competitiveness

The Board of Directors of the Royal Commission for Riyadh City (RCRC) announced on Monday the establishment of the Center for Riyadh Special Economic Zones to…