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 view of the damage which was caused by the earthquake in the town of Imi N'tala, outside Marrakech, Morocco, Wednesday, Sept. 13, 2023. (AP)

Marrakech to Host IMF-World Bank Meetings as Planned

Marrakech will host the annual meetings of the International Monetary Fund and the World Bank as planned on Oct. 9-15, Morocco's central bank governor said on…

Business A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia's Inflation Relatively Stable in August

The Consumer Price Index (CPI) reached 2.0% in August 2023, down from July, remaining relatively stable on a yearly basis. This stability is due to the…

Asharq Al Awsat (Riyadh)
Business According to S&P, Saudi and Emirati banks are the most resilient in the Gulf. (A photo from the website of the Union of Arab Banks)

GCC Banks Remain Resilient, Saudi Vision 2030 Represents Robust Catalysis

Banks in the Gulf Cooperation Council region are expected to maintain their resilience despite less favorable operating conditions, according to a report by S…

Asharq Al Awsat (Riyadh)
Business Visitors at the Cityscape Global Exhibition. (SPA)

Riyadh Real Estate Sector Contributes 13% to GDP

Real estate activities in Saudi Arabia have contributed 12.8 percent of the non-oil GDP in the third quarter of 2022, announced First Vice chairman of the…

Asharq Al Awsat (Riyadh)
Business Bilateral meetings between businessmen in the Saudi trade mission to the US (Asharq Al-Awsat)

Saudi-US Missions to Expand Ties Between Exporters, Buyers

Saudi Arabia and the US are witnessing mutual efforts to strengthen ties between suppliers and buyers. Over 130 companies are participating in the Saudi…

Asharq Al Awsat (Riyadh)
Business Monsha'at Launches Entrepreneurship Acceleration Program in Riyadh

Monsha'at Launches Entrepreneurship Acceleration Program in Riyadh

The Small and Medium Enterprises General Authority (Monsha'at) has announced the launch of the Entrepreneurship Acceleration Program in Riyadh. This was…

Asharq Al Awsat
Business A boat crosses the Nile River during a dust storm, in Cairo, Egypt, Tuesday, Sept. 12, 2023. (AP Photo/Amr Nabil)

Egypt Plans $1 Bln Flat Steel Production Site

Egypt plans to establish an integrated industrial compound to produce flat steel with investments worth $1 billion, the cabinet said in a statement on…

Asharq Al Awsat (Cairo)
Business The Royal Commission for Makkah City and Holy Sites announced the establishment of the real estate fund. (SPA)

Fund of $2.9 Bln to Develop 'Al Kidwa' in Makkah

The Royal Commission for Makkah City and Holy Sites (RCMC) signed on Tuesday an agreement to establish a SAR 11 billion ($2.9 billion) fund to develop the Al…

Asharq Al Awsat
Business Saud Al-Tassan, CEO of EFG Hermes Saudi Arabia (Asharq Al-Awsat)

Al-Tassan to Asharq Al-Awsat: Major Int’l Companies Are Interested in Entering Tadawul

Saud Al-Tassan, CEO of EFG Hermes Saudi Arabia, revealed that major international companies, including BlackRock and Franklin Templeton, are showing great…

Malek El Kaakour (London)
Business A rig, and in the background appears the logo of OPEC. (Reuters)

OPEC Expects Global Oil Demand to Surpass Pre-pandemic Level

OPEC on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024 citing signs that major economies are faring better than…

Asharq Al Awsat
Business Visitors on the third day of Cityscape Global, currently held in Riyadh. (Asharq Al-Awsat)

Saudi Arabia’s Real Estate Transformation Attracts Foreign Investments

On its third day, Cityscape Global saw the signing of a number of investment agreements and deals between local and international parties, reflecting the…

Bandar al-Mosalam (Riyadh)
Business NEOM hosts the largest hydrogen production plant in the world (NEOM Saudi Arabia website)

IMF Welcomes Saudi Arabia’s Efforts to Become Global Leader in Green Hydrogen Production

Saudi Arabia is witnessing remarkable activity in the hydrogen sector, which is considered the fuel of the future, in terms of production and export. The…

Asharq Al Awsat (Riyadh)
Business Saudi Arabian Airlines (SAUDIA) has become the first airline to operate flights to the Red Sea International Airport. SPA

SAUDIA Becomes 1st Airline to Fly to Red Sea International Airport

Saudi Arabian Airlines (SAUDIA) has achieved a significant milestone by becoming the first airline to operate flights to the Red Sea International Airport…

Asharq Al Awsat (Tabuk)
Business The Saudi flag flutters next to a green hydrogen fuel truck (Asharq Al-Awsat)

Hydrogen Egypt Aims to Expand in Saudi Arabia at the Beginning of 2024

Hydrogen Egypt is studying a potential expansion in the Saudi market, which constitutes an essential source for providing clean energy supplies to Asian…

Sabri Najeh (Cairo)
Business The second day of the Cityscape Global Exhibition, currently being held in Riyadh (Asharq Al-Awsat)

Cityscape Global Sees Major Participation of Leaders from Real Estate Sector

The world’s largest real estate event, Cityscape Global, continued for the second consecutive day in Riyadh, with the participation of more than 350 exhibitors…

Asharq Al Awsat (Riyadh)
Business CEO of Saudi Tadawul Mohammed Al-Rumaih speaking during the conference (Asharq Al-Awsat)

From London, Tadawul Makes First Step towards the World

The Saudi Stock Exchange (Tadawul) took its first step toward the world, starting from London, with the launching of the EFG Hermes Saudi Forum on Monday,…

Asharq Al Awsat (London)
Business Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Digital Transformation and Smart Cities Eng. Ali Rajhi. (Asharq Al-Awsat)

Saudi Infrastructure Expo: Transforming the Kingdom into Leading Destination for AI

The Saudi government is seeking to transform the Kingdom into a destination for artificial intelligence, by relying on modern technologies and innovative…

Bandar al-Mosalam (Riyadh)
Business Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, and Prime Minister of India Narendra Modi meet on Monday. (SPA)

Saudi Crown Prince, Indian PM Attend Saudi-Indian Strategic Partnership Council

Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, met on Monday with Prime Minister of India Narendra Modi at the Hyderabad House in…

Business Officials during the signing ceremony. (SPA)

Saudi EXIM and India EXIM Sign MoU at the G20 Summit in New Delhi

The Saudi Export-Import Bank (Saudi EXIM) and the India Export-Import Bank (India EXIM) have entered into a Memorandum of Understanding (MoU) aimed at…

Business This handout photograph taken on September 11, 2023 and released by the Indian Press Information Bureau (PIB) shows India's Prime Minister Narendra Modi (center L) and his Saudi Arabian counterpart and Crown Prince Mohammed bin Salman (center R) attending their delegation level talks at the Hyderabad House in New Delhi. (Indian Press Information Bureau (PIB) / AFP)

Saudi Arabia Could Open Sovereign Wealth Fund Office in India's GIFT City

Saudi Arabia could set up an office of its sovereign wealth fund in India's Gujarat International Finance Tec-City (GIFT), its investment minister said in New…

Business First day of G20 summit meeting in New Delhi (API)

Eastern, Northern 'Green Corridors' to Connect India with Gulf, Europe

Economists said the Green Corridors project will link India, the Middle East, and Europe, boost economic relations, increase efficiency, ease trade exchange,…

Mohammed al-Mutairi (Riyadh)
Business Minister Majid Al-Hogail speaks during the launch of Cityscape Global (Photography: Yazid Al-Samrani)

Saudi Arabia Witnesses Launch of Largest Global Real Estate Exhibition

Saudi Arabia unveiled investment projects worth more than SAR 68.7 billion ($18.3 billion) during the Cityscape Global exhibition, the largest real estate…

Bandar al-Mosalam (Riyadh)
Business Saudi Energy Minister Prince Abdulaziz bin Salman (SPA)

Saudi Energy Minister: Kingdom’s Economy on Right Track to Enter Top 15 by 2030

Saudi Energy Minister Prince Abdulaziz bin Salman expressed his pride in the significant progress achieved by the Kingdom’s economy within the framework of the…

Asharq Al Awsat
Business ADES Holding Seeks to Raise $1.2b from IPO in Tadawul

ADES Holding Seeks to Raise $1.2b from IPO in Tadawul

Oil and gas driller ADES Holding, backed by Saudi Arabia's sovereign wealth fund, began marketing its initial public offering on Sunday, seeking 12.50 riyals (…

Asharq Al Awsat