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 pumpjack operates at an oil well near windmills in Gray Horse, Oklahoma, on September 29, 2023. (Photo by CHANDAN KHANNA / AFP)

Oil Rises as US Sanctions, Stockpile Forecasts Raise Supply Worries

Oil prices were up on Friday after the US tightened its sanctions program against Russian crude exports, raising supply concerns in an already tight market,…

Asharq Al Awsat
Business General view of Riyadh city. Reuters file photo

UN Selects Riyadh to Host the Internet Governance Forum (IGF) 2024

The United Nations has selected Riyadh to host the 19th edition of the Internet Governance Forum (IGF) in 2024. The IGF is an annual event organized by the…

Asharq Al Awsat (Riyadh)
Business Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. SPA

Saudi Crown Prince Launches Master Plan For New Abha International Airport

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs, has announced…

Asharq Al Awsat (Riyadh)
Business Four hundred young men and women, representing 72 countries, attended the Middle East and North Africa Climate Week (MENACW) 2023 in Riyadh. (Asharq Al-Awsat)

Climate Week Brings Together 400 Young Men, Women to Discuss Environmental Challenges

Four hundred young men and women, representing 72 countries, discussed issues related to achieving climate change goals and carbon neutrality, and promoting…

Mohammed Helal (Riyadh)
Business Dr. Zeid Al-Ghareeb, the Director General of the National Program for Hydrogen and the Circular Carbon Economy at the Saudi Ministry of Energy, speaks during the Middle East and North Africa Climate Week (MENACW) 2023 in Riyadh. (Asharq Al-Awsat)

Saudi Arabia Considers Establishing Facility to Produce Clean Fuel Derivatives

Saudi Arabia is currently considering establishing a complex to produce clean fuel derivatives from carbon dioxide and hydrogen gas, within its endeavor to…

Asharq Al Awsat (Riyadh)
Business The Expo will take place from October 16 to 19 - SPA

Iraq to be Guest of Honor at 'Made in Saudi’ Expo

Iraq will be the guest of honor at the second edition of the "Made in Saudi" Expo, with the participation of more than 24 Iraqi companies from various sectors…

Asharq Al Awsat
Business Russian President Vladimir Putin delivers a speech during Russian Energy Week (EPA)

Putin Praises Saudi Crown Prince's ‘Very Important Role’ in Energy Markets

Russian President Vladimir Putin has praised the "very important role" of Saudi Crown Prince Mohammed bin Salman in energy markets, stressing that Russia will…

Asharq Al Awsat (Moscow)
Business Saudi Arabia is the latest member to join the Global CCS Institute (SPA)

Saudi Arabia Joins Global CCS Institute

Saudi Arabia, represented by the Energy Ministry, has become the latest member to join the Global CCS Institute on scaling up carbon capture and storage…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu/File Photo

Oil Falls Further on US Stock Build, Easing Supply Concerns

Oil prices fell for a third day on Thursday, dragged down by a larger-than-expected crude and gasoline stockbuild in the US and easing supply concerns. Brent…

Asharq Al Awsat
Business Officials at the signing ceremony. (SPA)

Saudi Aramco Assesses Possible Investment in Shandong Yulong Petrochemical

Aramco, one of the world’s leading integrated energy and chemical companies, Nanshan Group Co., Ltd., Shandong Energy Group Co., Ltd., and Shandong Yulong…

Business  FILED - 21 January 2022, Berlin: The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. (dpa)

Qatar Signs 27-Year Gas Supply Deal with France’s Total

Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on Wednesday. Qatar will supply 3.5…

Business A session on the circular carbon economy towards zero emissions neutrality within the activities of the third day of the Middle East and North Africa Climate Week (MENACW).

Saudi Arabia Increases Regional Movement to Mitigate Climate Change Effects

The third day of the Middle East and North Africa Climate Week (MENACW) 2023 saw a series of discussions pertaining to climate change, amid a broad regional…

Asharq Al Awsat (Riyadh)
Business Simon Stiell, the Executive Secretary of the UN Climate Change Secretariat (Bloomberg)

Stiell to Asharq Al-Awsat: MENA Climate Week in Riyadh Presents Opportunity to Understand Challenges

Simon Stiell, the Executive Secretary of the UN Climate Change Secretariat, has described Saudi Arabia’s approach in the field of traditional energy production…

Mohammed Helal (Riyadh)
Business Egyptian capital, Cairo. (Reuters)

IMF Adjusts Egypt's Growth Forecasts: 4.2% in 2023

The International Monetary Fund (IMF) has updated its forecasts for Egypt's economy to 4.2% in 2023 and 3.6% in 2024. Egypt’s economy reached 6.7% in 2022…

Asharq Al Awsat (Cairo)
Business Sheikh Mohammed bin Rashid and Georgia's President virtually attend the signing of the comprehensive partnership between both countries. (WAM)

UAE, Georgia to Double Trade to $1.5 Billion Annually

The UAE and Georgia have signed a Comprehensive Economic Partnership Agreement, with the aim of trebling non-oil trade from $481 million to $1.5 billion within…

Asharq Al Awsat (Dubai)
Business Countries including the US, China, France, Spain and the Netherlands will be involved in the research, in what is viewed as a key step toward worldwide tourism sustainability (Asharq Al-Awsat)

Saudi Arabia Launches Int’l Center for Sustainable Travel, Tourism Research

The Sustainable Tourism Global Center (STGC) has unveiled a new global research hub on the sidelines of the Middle East and North Africa (MENA) Climate Week in…

Asharq Al Awsat (Riyadh)
Business The Empower Africa Initiative was announced during Climate Week in Riyadh (Asharq Al-Awsat)

Saudi Oil Sustainability Program Launches Empowering Africa Initiative

The Oil Sustainability Program of the Saudi Ministry of Energy launched the "Empowering Africa" initiative in cooperation with the Ministries of Communications…

Asharq Al Awsat (Riyadh)
Business Madinah Airport. (Madinah Airport)

Flynas Announces 7 New Destinations, 4th Operations Base in Saudi Arabia

Flynas, the national airline and the leading low-cost carrier in the Middle East and the world, added seven new routes to its network from its new operations…

Business A session on structural reforms in the MENA region during the meetings of the International Monetary Fund and the World Bank in Marrakesh (Asharq Al-Awsat)

IMF: Structural Reforms Necessary for Growth, Job Opportunities

The International Monetary Fund (IMF) and the Middle East Institute (MEI) co-hosted an exclusive panel on the sidelines of this year's Annual IMF/World Bank…

Hala Saghbini (Marrakesh)
Business Logo of Tasaru Mobility Investments (PIF)

PIF Establishes ‘Tasaru Mobility Investments’ in Saudi Arabia

Saudi Public Investment Fund (PIF) has launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments), an investment company…

Asharq Al Awsat (Riyadh)
Business Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a signing ceremony following their talks at the Kremlin in Moscow, Russia March 21, 2023. (Reuters)

China to Host Belt and Road Forum in Beijing Oct 17-18 

China will host its third Belt and Road Forum next week, its foreign ministry said on Wednesday, a President Xi Jinping signature event that President Vladimir…

Business Saudi Arabia continues to increase the percentage of factories committed to obtaining environmental permits (Asharq Al-Awsat)

Saudi Arabia Says Factories with Environmental Permits Increased to 72%

The Saudi Ministry of Industry and Mineral Resources has announced that the number of factories obtaining an environmental permit has increased from 18 percent…

Asharq Al Awsat (Riyadh)
Business A passerby walks past a stock market indicator board in Tokyo, Japan, 10 October 2023.  EPA/FRANCK ROBICHON

Oil Ticks Up as Worries about Supply Disruptions Linger

Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26 cents, or 0.3%…

Asharq Al Awsat
Business Ras Laffan Industrial City, north of Qatari capital, Doha. (Getty Images)

QatarEnergy, Chevron Phillips Secure $4.4 Bln Financing for Petrochemicals Project

QatarEnergy and Chevron Phillips Chemical Company LLC announced on Monday that they have secured $4.4 billion financing for the Ras Laffan Petrochemicals…

Asharq Al Awsat (Doha)