Business

Türkiye Central Bank Holds Rates at 37% as it Eyes Iran War Fallout

Business Central Bank of Türkiye (official website)

Türkiye Central Bank Holds Rates at 37% as it Eyes Iran War Fallout

Türkiye's central bank held its key interest rate at 37% as expected on Wednesday, deciding not to hike but warning that fallout from the Iran war could yet…

Asharq Al Awsat
Business FILE PHOTO: FILE PHOTO: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo

Oil Prices Rise despite US-Iran Ceasefire Extension

Oil prices edged higher Wednesday while Europe's main stock markets eased on uncertainty surrounding the prospect of resumed Mideast peace talks following an…

Asharq Al Awsat
Business Officials from PIF and State Street IM (Saudi PIF)

PIF Anchors State Street’s Newly Launched Saudi Equity ETF

The Saudi Public Investment Fund (PIF) and State Street Investment Management (State Street IM), one of the world’s largest asset managers, launched on…

Asharq Al Awsat (Riyadh)
Business  People stand looking across the river at the skyline in the coastal city of Rabat on April 20, 2026. (AFP)

Morocco’s Inflation Rises to 0.9% in March

Morocco's annual inflation, measured by the consumer price index, rose to 0.9% in March from -0.6% a month earlier, the statistics agency said on Wednesday. …

Business Aerial view of the One Contribution container ship sailing under the Tokio flag as it enters the Panama Canal in Panama City on April 21, 2026. (EPA)

Strait of Hormuz Blockade Drives up Costs at Panama Canal

The war in the Middle East has boosted demand to move vital cargo through the Panama Canal to such an extent that one vessel carrying liquefied natural gas …


Business FILE PHOTO: A map showing the Strait of Hormuz and a 3D printed oil pipeline are seen in this illustration taken March 23, 2026. REUTERS/Dado Ruvic/Illustration//File Photo

Oil Surges, Stocks Fall as Trump Says to Blockade Strait of Hormuz

Oil prices surged and stocks sank Monday after US-Iran peace talks fell apart and Donald Trump announced a blockade of the strategic Strait of Hormuz, adding…

Asharq Al Awsat
Business Al-Saif said Lenovo’s decision to establish its regional headquarters in the Kingdom reflects the strength of the Saudi economy. SPA

Saudi Investment Minister Inaugurates Lenovo Regional HQ in Riyadh

Saudi Minister of Investment Fahad Al-Saif inaugurated on Sunday Lenovo’s regional headquarters for the Middle East, Türkiye, and Africa in Riyadh, marking a…

Asharq Al Awsat (Riyadh)
Business Two Aramco employees at one of the company's facilities (Aramco)

Rapid Recovery of Oil Facilities Reinforces Saudi Arabia’s Reliability as a Global Energy Supplier

Saudi Arabia demonstrated exceptional readiness and a rapid response in containing the fallout from the recent attacks on some of its oil facilities, restoring…

Bandar al-Mosalam (Riyadh)
Business Kremlin spokesman Dmitry Peskov looks on as Russia's President Vladimir Putin (not pictured) and Togo's President of the Council of Ministers Faure Gnassingbe (not pictured) meet at the Kremlin in Moscow, Russia November 19, 2025. REUTERS/Ramil Sitdikov/Pool/File Photo

Russia Ready to Supply Gas to the EU if it Has a Surplus

Russia is ready to continue supplying gas to the European Union if there are volumes remaining after supplies to alternative markets, Russian state news agency…

Asharq Al Awsat
Business Saudi and foreign investors stand in front of the logo of the giant Saudi oil company Aramco during the 10th Global Competitiveness Forum (AFP)

Saudi Energy Companies in 2025: Billion-Dollar Profits Defy Market Volatility

In 2025, the Saudi energy sector demonstrated a superior ability to fortify its financial gains and navigate global market fluctuations, achieving a net profit…

Mohammed al-Mutairi (Riyadh)
Business FILE PHOTO: International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, US, September 4, 2018. REUTERS/Yuri Gripas/File Photo

Economic Shock of Mideast War to Cast Shadow over IMF, World Bank Meetings

Top finance officials from around the world will convene in Washington this week under the shadow of the war in the Middle East, which has delivered a third…

Asharq Al Awsat
Business Pakistani Prime Minister Shehbaz Sharif meets Saudi Finance Minister Mohammed al-Jadaan (Government of Pakistan)

Pakistan Seeks Deeper Economic Ties with Saudi Arabia

Pakistan called for stronger economic cooperation with Saudi Arabia during a visit by Saudi Finance Minister Mohammed al-Jadaan, who held talks with the…

Asharq Al Awsat (Islamabad )
Business 
Yanbu Industrial Port (SPA)

Saudi Arabia Deploys Oil ‘Central Bank’ Capacity to Cushion Hormuz Shock

Saudi Arabia has emerged as a key stabilizing force in global energy markets during the crisis triggered by the US-Israeli-Iranian war that disrupted the…

Fatehelrahman Yousif (Riyadh)
Business People walk by blooming cherry blossoms in Seoul, South Korea, April 2, 2026. REUTERS/Kim Hong-Ji

South Korea Says Close to Securing Oil Supplies from Kazakhstan

South Korea is close to securing crude oil supplies from Kazakhstan, the industry minister said on Sunday, as the country looks for alternative energy sources…

Asharq Al Awsat
Business The Saudi Ministry of Energy logo

Saudi Energy Facilities, East-West Pipeline Affected by Attacks Recover and Restore Operational Capacity

The Saudi Ministry of Energy announced on Sunday the success of operational and technical efforts in restoring the full pumping capacity through the East-West…

Asharq Al Awsat (Riyadh)
Business  A nozzle pumps diesel into the fuel tank of bus in Orange, Calif., Tuesday, April 7, 2026. (AP)

From Boston to Denver, US Drivers Cut Back as Iran War Pushes Fuel Costs Higher

Boston resident Pat Ouedraogo has cut longer-distance trips, while aspiring law student Skyler Burke drives extra miles to avoid pricier gasoline pumps closer…

Business The Egyptian and Russian delegations meet on Friday. (Egypt’s Ministry of Electricity and Renewable Energy)

Egypt, Russia Hope to Speed up Construction of El Dabaa Nuclear Plant

Egypt and Russia are pushing to accelerate construction of the El Dabaa nuclear power plant and keep it on schedule. Egypt’s Minister of Electricity and…

Asharq Al Awsat (Cairo)
Business US Trade Representative Jamieson Greer attends a press conference with US Treasury Secretary Scott Bessent (not pictured) after two days of meetings with a Chinese delegation, in Paris, France March 16, 2026. Reuters 

US Trade Representative: China Involvement in Iran Would Complicate Matters

US Trade Representative Jamieson Greer said on Friday that the ‌United States is trying to maintain a stable relationship with China, but if Beijing gets…

Asharq Al Awsat
Business A person shops at a grocery store as inflation levels lead to a consumer price surge, in New York, New York, USA, 10 April 2026. (EPA)

US Inflation Surges 3.3% as Iran War Impact Bites

Inflation in the United States rose sharply in March, government data showed Wednesday, as higher energy prices due to the war in the Middle East hit Americans…

Business FILE PHOTO: A block with the symbol, atomic number and mass number of Dysprosium (Dy), a heavy rare earth, in this illustration taken January 21, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

EU, US Reportedly Near Critical Minerals Deal to Combat Chinese Control

The European Union and Washington are closing in on an agreement to coordinate on producing and securing critical minerals, Bloomberg News reported on Friday. …

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Business FILE PHOTO: Customers crowd around a jewelry showroom during Akshaya Tritiya, a major gold-buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo

Gold Set for Third Weekly Gain as US Rate Outlook Offsets Dollar Strength

Gold steadied on Friday as US-Iran ceasefire uncertainty lingered, but the metal stayed on course for a third consecutive weekly climb as investors priced in…

Asharq Al Awsat
Business A street in the Saudi capital, Riyadh (Reuters)

Saudi Business Confidence Index Remains Optimistic

Saudi Arabia’s Business Confidence Index remained in optimistic territory at 52.1 points in March, underscoring private sector resilience despite geopolitical…

Asharq Al Awsat (Riyadh)
Business This picture shows stacks of Syrian lira banknotes at the Commercial Bank of Syria in Damascus, on November 10, 2022. (Photo by LOUAI BESHARA / AFP)

Syria Nears Correspondent Bank Account Deal with Türkiye, Mulls Currency Swap

Syria ‌is in the final stages of establishing a correspondent bank account with neighboring Türkiye's central bank and will also discuss a potential…

Asharq Al Awsat
Business Al Ghais spoke on Thursday at the 16th High-Level Meeting of the Energy Dialogue between OPEC and the EU in Brussels

OPEC Chief Stresses Commitment to Support Market Stability

OPEC Secretary General Haitham Al Ghais has reiterated the Organization of the Petroleum Exporting Countries’ commitment to support market stability and…

Asharq Al Awsat (Brussels)
Business  Riyadh, Saudi Arabia (Reuters)

World Bank Sees Saudi Budget Deficit Halving, Current Account Surplus of 3.3% in 2026

As regional economies reel from a complex and uncertain geopolitical landscape, with shipping disruptions through the Strait of Hormuz adding pressure, the…

Hala Saghbini (Riyadh)
Business A Lebanese man walks past destruction at the site of an Israeli airstrike the day before that targeted a building in Beirut on April 9, 2026. (Photo by Ibrahim AMRO / AFP)

European Development Bank Unveils 5 Bn Euros for War-hit Economies

The European development bank said Thursday it was unlocking five billion euros ($5.9 bn) to help shore up economies hit by the Middle East war. The…

Asharq Al Awsat (London)
Business One of Saudia’s aircraft (company website)

Saudia to Partially Resume Flights To, From Dubai, Abu Dhabi, and Amman on Saturday

Saudia announced on Thursday the partial resumption of its operations to and from Dubai, Abu Dhabi, and Amman starting Saturday, April 11. In a post on its…

Asharq Al Awsat
Business FILED - 24 October 2024, US, Washington: The logo of the International Monetary Fund (IMF) is pictured on the facade of the conference building on Pennsylvania Street. Photo: Soeren Stache/dpa

IMF Expects to Provide Vulnerable Economies Hit by Iran War Up to $50 bn

The International Monetary Fund expects to have to provide up to $50 billion in immediate financial assistance to countries affected by the Middle East war,…

Asharq Al Awsat