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 Visitors at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi. (epa)

Abu Dhabi’s Economy Rises 3.5% in Q2 2023  

The Statistics Center – Abu Dhabi (SCAD) announced the gross domestic product (GDP) estimates for the second quarter of 2023, revealing a whopping 12.3 percent…

Business The Moroccan flag is seen in front of a destroyed building following the devastating earthquake in Marrakesh last month. (Reuters)

Morocco's Economy Grows by 2.3%

Morocco's national economy grew by 2.3 percent in the second quarter of 2023, compared with 2.2 percent in the same quarter of 2022. Driven by external…

Business Spherical tanks are seen at the Jordan Petroleum Refinery in the city of Zarqa. (Reuters)

Jordan Offers Investment Opportunities for Oil Shale Exploration

Jordan’s Ministry of Investment announced new investment prospects through the online platform to explore and extract oil shale. According to the…

Business The Industrial Sector Enablers forum organized by the Riyadh Chamber (Asharq Al-Awsat)

Industrial Establishments Increased to 11,000 in Saudi Arabia

The number of industrial establishments in Saudi Arabia increased from 8,800 in 2019 to more than 11,000 industrial establishments, according to Ministry of…

Asharq Al Awsat (Riyadh)
Business The Saudi Minister of Economy and Planning hosted a reception for representatives of government entities and private sector companies participating in the sixth session of the Saudi-Portuguese Joint Committee and the Saudi-Portuguese Investment Forum in Lisbon. SPA

Economy and Planning Minister Hosts Reception for Participants of Saudi-Portuguese Joint Committee Meeting

The Saudi Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, hosted on Monday a reception for representatives of government entities and private…

Asharq Al Awsat (Lisbon)
Business The UPU conference will continue in the capital, Riyadh, until October 5. SPA

192 UPU Member Countries Agree to Adopt 'Riyadh Solution'

The Fourth Extraordinary Conference of the Universal Postal Union (UPU) in Riyadh announced the adoption of what has been referred to as the "Riyadh Solution"…

Asharq Al Awsat (Riyadh)
Business Riyadh Skyscrapers tower over a highway in the main financial hub, Riyadh, Saudi Arabia, Dec. 16, 2020. (AFP)

Saudi Venture Capital Announces $30 Million Investment in IMPACT46's Fund III

Saudi Venture Capital (SVC) announced its investment of $30 million in Fund III managed by IMPACT46, a prominent asset management and advisory firm, which was…

Business A picture taken from the seaside promenade of the northern Lebanese coastal town of Dbayeh shows the skyline of the Lebanese capital Beirut on March 17, 2020. (AFP)

Consortium of TotalEnergies, Eni, QatarEnergy Bids in Lebanon Oil and Gas Licensing Round

A coalition of Total Energies , Eni and Qatar Energy applied for the second licensing round to bid on oil and gas blocks 8 and 10 in Lebanese waters, just an…

Business Indian Minister of Tourism Shripad Naik. (Asharq Al-Awsat)

Indian Minister of Tourism Says Cooperation Is Part of Strategic Relationship with Saudi Arabia

Indian Minister of Tourism Shripad Naik said the development of sustainable tourism infrastructure, through the exchange of technology and best practices, was…

Fatehelrahman Yousif (Riyadh)
Business Saudi budget expectations for 2024 are positive in light of the developments and challenges facing the global economy. (SPA)

Saudi Arabia Fortifies Itself Against External Shocks with Proactive Measures in 2024 Budget

Saudi Arabia has taken proactive measures to boost the ability of its economy to face challenges and developments, and to ensure financial sustainability. …

Bandar al-Mosalam (Riyadh)
Business The Saudi Minister of Transport and Logistics delivers a speech during the opening of the extraordinary conference of the Universal Postal Union. (SPA)

Leaders of Global Postal System Meet in Saudi Arabia to Shape the Sector Future

Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Saudi Minister of Transport Eng. Saleh Al-Jasser inaugurated on Sunday…

Bandar al-Mosalam (Riyadh)
Business Iraqi flag in front of an oil field. (AFP)

Iraq Oil Exports Stand at 3.4 Mln bpd in Sep

Iraq exported 103,143,199 million barrels of crude oil in September, generating 9.5 billion US dollars in revenue, the country's Oil Ministry announced on…

Asharq Al Awsat (Baghdad)
Business Suez Canal Economic Zone (SCZone) chairperson Walid Gamaleddine with the Japanese delegation (Asharq Al-Awsat)

24 Japanese Companies Interested in Investing in Egypt's SCZone

A total of 24 companies and institutions visited the Suez Canal Economic Zone (SCZone) to explore renewable energy investment opportunities in various fields,…

Asharq Al Awsat
Business First Saudi Chief Executives Association

First Saudi Chief Executives Association

Saudi Minister of Human Resources and Social Development Engineer Ahmed al-Rajhi approved the establishment of the nation’s inaugural Chief Executives…

Asharq Al Awsat
Business FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina/File Photo

OPEC Optimistic on Demand, Secretary General Says

OPEC is optimistic on demand and sees under-investment as a risk to energy security, Secretary General Haitham Al Ghais said on Monday at an energy industry…

Asharq Al Awsat
Business Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)

Türkiye Says to Re-Start Operations of Iraq Oil Pipeline This Week 

Türkiye will restart operations this week on a crude oil pipeline from Iraq that has been suspended for about six months, Türkiye’s Energy Minister Alparslan…

Business AAWSAT Flag

Saudi Shooter Mohammed Tolo Secures Silver in Petanque at Asian Games in Hangzhou

Saudi shooter Mohammed Tolo secured the third Saudi medal at the 19th Asian Games “Hangzhou 2022,” claiming silver in the shot put during the athletics…

Asharq Al Awsat
Business The Kingdom has achieved the inclusion of coffee on the UNESCO list of intangible cultural heritage. - SPA

Saudi Arabia's Production of Coffee Exceeds 800 Tons Annually

The Kingdom of Saudi Arabia is among the top 10 countries in the world in terms of coffee consumption, leading the government to show keen interest in this…

Asharq Al Awsat
Business FILE PHOTO: International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, US, as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas/File Photo

IMF Team to Begin Meeting Officials in Ukraine

An International Monetary Fund will begin holding meetings in Ukraine on Sunday to discuss policy goals and challenges with government officials and others…

Asharq Al Awsat
Business The Mosque of Muhammad Ali is seen shrouded in fog at the Saladin Citadel fortification in Cairo, Egypt, 12 September 2023. (EPA)

Egypt Targets 7-8% Sustainable Annual Growth

Egypt’s Planning Minister Dr. Hala El-Saied said Egypt is targeting sustainable annual growth ranging between 7 to 8 percent. Speaking at the "Story of a…

Business Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12. (SPA)

MENA Climate Week 2023 to Discuss Progress, Solutions in Riyadh

Saudi Arabia, in coordination and collaboration with the UN Framework Convention on Climate Change, is set to host the MENA Climate Week 2023 in Riyadh on…

Business Expectations for the Saudi economy are an extension of its positive performance (SPA)

Saudi Budget 2024: Anticipated Spending of SAR 1.251 Bn, Revenues of SAR 1.172 Bn

Saudi Arabia’s Finance Ministry has announced a preliminary statement of budget for the fiscal year 2024 with expenditures valued at SAR 1,251 billion and…

Asharq Al Awsat
Business An aerial view of solar panels at the Nour 1 concentrated solar power plant outside Ouarzazate in central Morocco (AFP)

UK to Build Undersea Cable to Tap Moroccan Renewable Power

The United Kingdom is planning to extend a subsea cable for the transmission of renewable energy from Morocco in a project declared a project of "national…

Asharq Al Awsat
Business More than 50 tourism ministers, 120 officials, and over 500 experts and leaders in the sector and in this year’s celebration of the WTD. SPA

WTD 2023 Concludes in Riyadh with Participation of More Than 500 Experts from 120 Countries

A series of events organized in Riyadh on the occasion of the 2023 World Tourism Day (WTD) concluded with the World Tourism Organization (UNWTO) hailing this…

Asharq Al Awsat (Riyadh)