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  A cyclist holds a Palestinian flag to express support for Palestinians, as he rides along a street in Mogadishu, Somalia October 12, 2023. (Reuters)

Somalia, IMF Reach Preliminary Deal on $100 Mln in New Funding

International Monetary Fund (IMF) staff on Wednesday reached a preliminary agreement with Somalia that will allow for the release of $100 million in funding…

Business FILE PHOTO: General view of Neste's oil refinery, with a total refining capacity of about 13.5 million tons per year, in Porvoo, southern Finland, November 17, 2015.REUTERS/Jussi Rosendahl/File Photo

Oil Up Ahead of Fed Meet as Middle East Conflict Rages

Oil prices rose more than 1% on Wednesday ahead of the keenly watched meeting of the US central bank for clues on interest rate policy, while the conflict in…

Asharq Al Awsat
Business The meeting reviewed cooperation between Saudi Arabia and the European Union in higher education and research. (Asharq Al-Awsat)

Saudi Arabia, EU Explore Cooperation in Higher Education

The Saudi Ministry of Education and the EU Delegation of Erasmus+ program reviewed cooperation in higher education and research, with the participation of…

Business The CEO of the Real Estate General Authority Abdullah Saud Al-Hammad

Real Estate Transactions in Saudi Arabia’s Eastern Province Reach $9.6 Bn in Q3

The volume of real estate transactions in the Kingdom’s Eastern Province reached SAR36 billion ($9.6 billion) by the end of Q3 of 2023, revealed Abdullah Saud…

Asharq Al Awsat (Riyadh)
Business The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)

Saudi Non-Oil Activities Sustain 11 Consecutive Quarters of Growth

Non-oil activities in Saudi Arabia have maintained their growth momentum in Q3 of 2023, registering a 3.6% increase despite a decline from Q2. This…

Bandar al-Mosalam (Riyadh)
Business Participants at the second edition of the Global Cybersecurity Forum. (SPA)

Saudi Arabia Hosts Global Cybersecurity Forum with Participation of over 120 Countries

Saudi Arabia will host on Wednesday the third edition of the Global Cybersecurity Forum in Riyadh. Sponsored by Custodian of the Two Holy Mosques King…

Asharq Al Awsat (Riyadh)
Business A youngster prepares his line as he fishes next to Galata bridge in Istanbul, Türkiye, Tuesday, Oct. 31, 2023. (AP Photo/Francisco Seco)

PMI: Turkish Manufacturing Activity Contracts in October

Turkish factory activity contracted for a fourth consecutive month in October as firms struggled to secure new business and scaled back production, a survey…

Asharq Al Awsat
Business A woman walks in front of the World Bank headquarters in Washington, DC. (AP)

World Bank: Conflict in Gaza Could Bring Dual Shock to Global Markets

An escalation of the latest conflict in the Middle East - which comes on top of disruptions caused by the war between Russia and Ukraine - could push global…

Asharq Al Awsat (Washington)
Business Reflection of the image of passers-by on a screen displaying stock movements on the Japanese Stock Exchange in central Tokyo. (Reuters)

Japan Warns ‘Gaza War’ Could Impact Economy

Japan's government warned on Monday that the conflict in the Middle East could impact the economy through energy costs, while keeping its view that the…

Asharq Al Awsat
Business An exhibitor displays gold jewelry to a client during the last edition of the Nebu Expo for Gold. (Asharq Al-Awsat)

Egypt Applies Zero-Customs for Gold Expo Participants

Egypt approved a zero-customs policy for participants of the Nebu Expo for Gold and Jewelry, scheduled for the end of November. Head of the Gold Division…

Sabri Najeh (Cairo)
Business Saudi Minister of Health Fahad Al-Jalajel (SPA)

Saudi Healthcare System Awaits Vital Private Sector Role

The Saudi government is rigorously engaged in involving the private sector in the healthcare industry and increasing its contribution to 50% as part of a…

Bandar al-Mosalam (Riyadh)
Business Saudi Arabia moves to improve airport and air transport services (Asharq Al-Awsat)

Saudi Arabia Aims to Pump $100 Bn Investments for Aviation Reform

The Saudi General Authority of Civil Aviation (GACA) announced the economic policy for the Kingdom’s aviation sector that seeks to attract $100 billion to…

Asharq Al Awsat
Business Austrian Ambassador to Saudi Arabia Oskar Wustinger

Austrian Ambassador: We Aim to Deepen Economic, Investment Cooperation with Saudi Arabia

Oskar Wustinger, the Austrian Ambassador to Riyadh, has highlighted a robust shared aspiration between Austria and Saudi Arabia that is currently driving…

Fatehelrahman Yousif (Riyadh)
Business SPA

56th Arab Air Carriers' Organization General Meeting Kicks Off in Riyadh

Minister of Transport and Logistics Services Eng. Saleh bin Nasser Al-Jasser, who is also Chairman of the Board of Directors of Saudi Arabian Airlines…

Asharq Al Awsat
Business ROSHN Group, PIF-owned giga-project, is a Diamond Partner of Restatex Asharqia Real Estate Exhibition and will be recognized with an award for its role in enhancing the event.

ROSHN Group Heads to Restatex Asharqia Real Estate Exhibition as Diamond Partner

ROSHN Group, PIF-owned giga-project, is a Diamond Partner of Restatex Asharqia Real Estate Exhibition and will be recognized with an award for its role in…

Business Emaar the Economic City, the main developer of KAEC, is moving in various directions with a focus on planning and developing the city. (Asharq Al-Awsat)

Diverse Foreign Investments Drive Growth in Saudi Arabia’s King Abdullah Economic City

The King Abdullah Economic City (KAEC), which was established more than 17 years ago, is witnessing remarkable growth, thanks to the influx of diverse foreign…

Saeed al-Abyad (Rabigh)
Business Saudi banks register high profitability in the third quarter of 2023. (SPA)

Deposits, Loans Raise Saudi Banks’ Profits in 3rd Quarter

Saudi banks achieved SAR 18 billion ($4.8 billion) in profits at the end of the third quarter of 2023 - the highest quarterly profits in their history - due to…

Mohammed al-Mutairi (Riyadh)
Business A night view of Cairo amid power outages. (AFP)

Egypt's Natural Gas Imports Drop to Zero from 800 mcfd

Egypt’s natural gas imports fell to zero from 800 million cubic feet (mcf) per day, the Egyptian cabinet said in a statement. Cabinet spokesperson Sameh…

Business Ministers speak at the Global Health Forum 2023. (SPA)

Saudi Arabia Aims to Raise Private Sector’s Contribution to Health Industry to 50%

Saudi Arabia announced that one of the goals of the health sector transformation program was to increase the private sector’s contribution to 50 percent, from…

Asharq Al Awsat (Riyadh)
Business Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)

Saudi Arabia Sets Record Production Indicators to Ensure Food Industry Sustainability

Saudi Arabia achieved record indicators in food production to ensure the industry's sustainability locally, achieve self-sufficiency in some products, and move…

Bandar al-Mosalam (Riyadh)
Business Participants in the recent roundtable meeting of donors affiliated with the East Africa Group in Arusha, Tanzania (Asharq Al-Awsat)

African Development Bank Launches Initiative to Enhance Trade in East Africa

The African Development Bank is partnering with the East African Community (EAC) Secretariat and the United Nations Conference on Trade and Development to…

Asharq Al Awsat (Cairo)
Business The introductory meeting for the inaugural InFlavour 2023, Saudi Arabia’s biggest F&B event. (Asharq Al-Awsat)

Saudi Arabia Prepares to Launch World’s Largest Food Sustainability Expo

The Saudi Ministry of Environment, Water and Agriculture has unveiled its future plans to enhance agricultural production efficiency and bolster food security…

Fatehelrahman Yousif (Riyadh)
Business Chevron Richmond Refineries in California (AP)

Oil Prices Rise amid Gaza War

Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt…

Asharq Al Awsat
Business The Public Investment Fund (PIF) announced two initiatives to support the development of Saudi Arabia’s asset management industry.

PIF Announces Initiatives to Support Saudi Arabia’s Asset Management Industry

The Public Investment Fund (PIF) announced two initiatives to support the development of Saudi Arabia’s asset management industry, reported the Saudi Press…