Business

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

Business The agreements were signed during the "Industrial Transformation Saudi Arabia 2025” Exhibition. SPA

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

The Ministry of Industry and Mineral Resources has signed a number of memoranda of understanding (MoUs) with leading local and international companies to…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010. REUTERS/Stringer/File Photo

China Says Working on Streamlining Rare Earth Export Licenses

China said on Thursday it is working on streamlining rare earth export licenses - a key promised outcome after a meeting between US President Donald Trump and…

Asharq Al Awsat
Business The resources at Jafurah are now estimated at 229 trillion standard cu ft of gas and 75 billion barrels of condensates. (Saudi Aramco)

Saudi Aramco's Jafurah Gas Plant Begins Output with 450 Million Cubic Feet Per Day

The first phase of oil giant Aramco's Jafurah gas plant is complete and production has begun with a capacity of 450 million cubic feet per day, the Saudi…

Asharq Al Awsat
Business Saudi Finance Minister Mohammed al-Jadaan and Economy Minister Faisal Alibrahim attend the Saudi Budget Forum (Saudi 2026 Budget Forum)

Saudi Budget Forum Reveals Govt. Spending Now Independent of ‘Oil Cycle’

Saudi Arabia’s 2026 budget forum, held a day after the Cabinet approved the new fiscal plan under the chairmanship of Crown Prince and Prime Minister Mohammed…

Abir Hamdi (Riyadh)
Business The Saudi capital Riyadh. Reuters file photo

Saudi Non-oil Business Activity Expands in November

Saudi Arabia's non-oil private sector business activity expanded at its fastest rate in 10 months in November, driven by robust demand and increased hiring,…

Asharq Al Awsat

Business FILE PHOTO: A service truck drives past an oil well on the Fort Berthold Indian Reservation in North Dakota, November 1, 2014.  REUTERS/Andrew Cullen/File Photo

Oil Falls as Ukraine Peace Talks Edge toward a Solution

Oil prices slipped Monday, extending losses from last week, as Russia-Ukraine peace talks edged closer to a solution and the US dollar strengthened. Brent…

Asharq Al Awsat
Business The GE Vernova headquarters. (Asharq Al-Awsat)

GE Vernova: Saudi Manufacturing Is a Cornerstone of Our Global Network

Hisham Al Bahkali, President of GE Vernova in Saudi Arabia, said that the Kingdom today stands as a central pillar in the company’s global strategy for…

Mosaed al-Zayani (Riyadh)
Business Canada's Prime Minister Mark Carney speaks during a news conference following the APEC Summit in Gyeongju, South Korea, Saturday, Nov. 1, 2025. (Adrian Wyld/The Canadian Press via AP)

Canada Says It Will Resume US Trade Talks 'When Appropriate'

Canada will resume trade discussions with the United States "when it's appropriate," Canadian Prime Minister Mark Carney said on Sunday, noting he did not have…

Asharq Al Awsat
Business  22 November 2025, South Africa, Johannesburg: UK Prime Minister Keir Starmer speaks during an interview with Beth Rigby from Sky News on the sidelines of the G20 Summit in Johannesburg. (dpa)

Britain Unveils Critical Minerals Strategy to Cut Reliance on Foreign Supply

Britain on Saturday rolled out a critical minerals strategy designed to reduce dependence on foreign suppliers by 2035, with targets to source 10% of domestic…

Business File photo of Kuwait's skyscrapers (AFP)

S&P: Kuwait Upgraded to 'AA-/A-1+' on Reform Progress, Outlook Stable

Standard & Poor's Global Ratings said it raised its long- and short-term sovereign credit ratings on Kuwait to 'AA-/A-1+' from 'A+/A-1', with the outlook as…

Asharq Al Awsat
Business Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participates in the opening session of the G20 Leaders' Summit held in Johannesburg, Nov 22, 2025 - SPA

Saudi Arabia Backs WTO Reform and Supports a Fair, Transparent Global Trading System at G20 Summit

On behalf of Saudi Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Minister of Foreign Affairs Prince Faisal bin Farhan bin…

Asharq Al Awsat
Business AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

UAE to Invest $1 billion to Expand AI in Africa

The United Arab Emirates said on Saturday it will invest $1 billion to expand AI infrastructure and AI-enabled services across Africa, with the aim of helping…

Asharq Al Awsat
Business Tourists walk around Trocadero Square near the Eiffel Tower on a cold day in Paris, France, November 19, 2025. REUTERS/Sarah Meyssonnier

France Pushes for Deeper Economic Partnership with Saudi Arabia

A full agenda awaits Nicolas Forissier, France’s minister delegate for foreign trade, during his three-day visit to Saudi Arabia on November 21, a trip that…

Michel Abou Najm (Paris)
Business European Central Bank President Christine Lagarde delivers her keynote speech at Euro Finance Week, a weeklong annual financial conference in Frankfurt, Germany, November 21, 2025. REUTERS/Heiko Becker

Lagarde: EU Can Beat Trump’s Tariffs with Domestic Trade

The European Union can offset the impact of US trade tariffs if it knocks down some of its internal barriers, European Central Bank President Christine Lagarde…

Asharq Al Awsat (Frankfurt)
Business A view of an oil pump jack on the prairies near Claresholm, Alberta, Canada January 18, 2025. REUTERS/Todd Korol

Oil Extends Decline as US Presses for Russia-Ukraine Peace Deal

Oil prices fell on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace deal that could swell global supply…

Asharq Al Awsat
Business Monsha’at Signs Six MoUs at Saudi-US Investment Forum to Boost SME Innovation

Monsha’at Signs Six MoUs at Saudi-US Investment Forum to Boost SME Innovation

The Small and Medium Enterprises General Authority (Monsha’at) signed six memoranda of understanding (MoUs) with international partners—The BTL Group, National…

Asharq Al Awsat
Business ADNOC's Covestro Takeover Gets Final Regulatory Approval in Germany

ADNOC's Covestro Takeover Gets Final Regulatory Approval in Germany

Abu Dhabi state oil firm ADNOC and Germany's Covestro have received the final outstanding regulatory approval from the German economy ministry for their 14.7…

Asharq Al Awsat
Business FILE PHOTO: A salesman shows a gold necklace on display inside a jewelry showroom in Kolkata, India, October 18, 2024. REUTERS/Sahiba Chawdhary/File Photo

Gold Falls 1%, Poised for Weekly Loss as US Jobs Data Dims Rate-cut Hopes

Gold prices fell more than 1% on Friday and were set for a weekly decline after a robust US jobs report dampened expectations of a Federal Reserve rate cut…

Asharq Al Awsat
Business Pedestrians make their way through a shopping district in Tokyo, Japan November 21, 2025. REUTERS/Kim Kyung-Hoon

Japan OKs $135 Billion Stimulus Package to Help Revive its Sluggish Economy

Japan's Cabinet approved a 21.3 trillion yen ($135.4 billion) stimulus package Friday to help spur the economy through expansionary government spending and to…

Asharq Al Awsat
Business School students carry a huge Lebanese flag on the occasion of Lebanon's 82nd Independence Day anniversary to be celebrated on 22 November, outside the Parliament building in downtown Beirut, Lebanon, 20 November 2025. EPA/WAEL HAMZEH

International Finance Corporation Announces New Investments in Lebanon

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Thursday new investments and engagements to expand access to…

Ali Zeineddine (Beirut)
Business WASHINGTON, DC - NOVEMBER 19: Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia and US President Donald Trump stand for a photo with other participants at the US-Saudi Investment Forum at the Kennedy Center on November 19, 2025 in Washington, DC. Win McNamee/Getty Images/AFP

Saudi Crown Prince’s Washington Trip Signals Future-Focused Strategic Shift

Over an intensive 48 hours, Washington became the stage for launching a new phase in the strategic alliance between Saudi Arabia and the United States, an…

Hala Saghbini (Riyadh)
Business General view of Abu Dhabi, United Arab Emirates, January 3, 2019. Picture taken January 3, 2019. REUTERS/ Hamad I Mohammed/File Photo

Abu Dhabi Seeks Partners to Carry Out Infrastructure Projects Worth $54 Billion

Abu Dhabi is seeking partners to carry out infrastructure projects worth $54 billion over the next five years, and aims to double that amount by 2040, the head…

Asharq Al Awsat
Business The building housing Libya's oil state energy firm, the National Oil Corporation (NOC), is seen in Tripoli, Libya February 22, 2016. REUTERS/Ismail Zitouny

Libya Nears Final Stage of Oil Exploration Bid Round, NOC Says

Libya's National Oil Corporation said it is approaching the final stage of a public exploration bid round, with companies expected to submit offers and open…

Asharq Al Awsat
Business A view of the Syrian central bank in Damascus, Syria, January 12, 2025. (Reuters)

Syria Sends First SWIFT Message to New York Fed, Central Bank Governor Says

The Syrian central bank on Thursday sent its first Swift message to the Federal Reserve Bank of New York, central bank Governor AbdulKader Husrieh told Reuters…

Asharq Al Awsat
Business A general view of Oman's capital Muscat. (Getty Images)

Oman Air to Look at Possible Narrow-body Fleet Order Early Next Year

Oman Air could potentially place an order for narrow-body jets early next year, the chief executive of the Gulf state carrier told Reuters, as it undergoes a…

Asharq Al Awsat
Business In this photograph taken on November 16, 2016, Pakistani technicians work at a power grid station in Faisalabad. (AFP/FILE)

ADB Approves $330m Loan to Upgrade Pakistan Power Grid

Pakistan will receive a $330 million loan to upgrade its energy grid, which will help hydropower reach major cities, the Asian Development Bank said Thursday. …

Asharq Al Awsat
Business Printed Chinese and Japanese flags are seen in this illustration, July 21, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights

China Says Trade Cooperation with Japan Taken 'Great' Hit

Trade cooperation between China and Japan has taken a "great" hit following the recent remarks on Taiwan made by the Japanese prime minister, the Chinese…

Asharq Al Awsat
Business Saudi Investment Minister Khalid Al-Falih speaks at the forum in Washington on Wednesday. (Saudi-US Investment Forum)

Saudi-US Investment Forum Unveils Major Energy, Tech, Finance Deals

Washington hosted the Saudi-US Investment Forum on Wednesday, an event described as a strategic bridge marking a decade of shared growth and innovation between…

Heba El Koudsy (Washington)
Business The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)

Saudi Aramco Announces 17 MoUs and Agreements with Companies in the US

Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, announced on Wednesday 17 Memoranda of Understanding (MoUs) and agreements…