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 Al-Badr talking to Asharq Al-Awsat on the sidelines of the Saudi-Japanese round-table meeting.

Al-Badr to Asharq Al-Awsat: Exploring Opportunities for Saudi-Japanese Cooperation in Vital Sectors

The Undersecretary of the Ministry of Investment for Communication with Investors, Badr Al-Badr, unveiled joint efforts by the Saudi and Japanese governments…

Asma al Ghabri (Jeddah)
Business People watch as the "buck moon" rises over the skyline of Kuwait City on July 3, 2023. (AFP)

Kuwait Unveils Plan to Prepare Durra Field, Sovereign Investment Fund for Local Investment

The Kuwaiti government has announced a plan to strengthen the comprehensive infrastructure of the offshore Durra oil and gas field. Not only that, the…

Merza al-Khuwaldi (Kuwait)
Business  A group photo of participants at a Saudi-Japanese investment roundtable (Asharq Al-Awsat)

Saudi-Japanese Investment Agreements to Expand Economic Relations

Saudi Arabia and Japan have embarked on a new era in their partnership, which began in 2016, under the “Saudi-Japanese Vision 2030.” They have signed 26…

Asma al Ghabri (Jeddah)
Business The GCC and Japan signed a joint statement on the resumption of Free Trade Agreement negotiations. SPA

GCC, Japan Announce Resumption of Free Trade Agreement Negotiations

The Gulf Cooperation Council and Japan announced on Sunday the resumption of Free Trade Agreement negotiations, by signing a joint statement on the sidelines…

Asharq Al Awsat (Riyadh)
Business General view of Riyadh city, in Riyadh, Saudi Arabia, May 7, 2020. REUTERS/Ahmed Yosri

Saudi Inflation Rate Ticks Down in June

Saudi Arabia's annual inflation rate eased to 2.7% in June from 2.8% the previous month, government data showed on Sunday. Prices for housing, water,…

Asharq Al Awsat
Business Turkish lira banknotes are seen in this illustration taken in Istanbul, Türkiye November 23, 2021. (Reuters)

Türkiye Increases Fuel Tax

Türkiye raised tax on petrol on Sunday to help to fund a 1.12 trillion lira ($42.2 billion) increase to its 2023 budget after February's earthquakes and the…

Asharq Al Awsat
Business The Borouge petrochemical complex in the UAE (Asharq Al-Awsat)

ADNOC Confirms Talks on Potential Borouge-Borealis Merger

Abu Dhabi National Oil Company (ADNOC) confirmed on Saturday it has entered into formal negotiations with OMV AG about the potential creation of a new combined…

Asharq Al Awsat (Abu Dhabi)
Business The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle

Morocco, Shell Sign 12-year Natural Gas Deal

Energy giant Shell will supply Morocco with six billion cubic meters of liquefied natural gas (LNG) over 12 years under a new agreement, Morocco's energy…

Asharq Al Awsat
Business The headquarters of the Saudi Ministry of Investment (Ministry's website)

Riyadh, Tokyo to Sign Agreements and MoUs in Several Sectors

Riyadh and Tokyo will sign agreements and memorandums of understanding in several sectors of mutual interest on the sidelines of Japanese Prime Minister Fumio…

Asharq Al Awsat (Riyadh)
Business Prime Minister Fumio Kishida - Reuters

Tokyo, Riyadh to Agree on Rare Earth Resources Joint Development

Japan and Saudi Arabia are expected to agree on joint investment to develop rare earth resources during Prime Minister Fumio Kishida's visit to the Middle…

Asharq Al Awsat
Business Shipping containers and cranes at a commercial port in the Japanese capital, Tokyo (Reuters)

Japan to Resume Free Trade Talks with Gulf Cooperation Council

Japan is planning to resume negotiations with the six Gulf Cooperation Council countries next year, Japanese Yomiuri Shimbun reported. Prime Minister Fumio…

Asharq Al Awsat (Tokyo)
Business Fish and seafood vendor in one of the markets in the city of Port Said (northeast Egypt) as inflation reaches an unprecedented peak in the country (Reuters)

Egypt Maintains Budget Deficit Level Despite Challenges

Egypt’s Finance Ministry stated in a press release on Friday that the preliminary final account of the budget for the fiscal year 2022-2023 shows a total…

Asharq Al Awsat (Cairo)
Business The Kuwaiti National Assembly (KUNA)

Kuwait Endorses Law to Permit Residential Cities Firms

The Kuwaiti National Assembly unanimously approved, Thursday, a law that allows the government to establish companies with the participation of Kuwaiti and…

Asharq Al Awsat (Kuwait)
Business Natalia Bayona, who leads the innovation, education, and investments strategy of the UNWTO, believes that Saudi Arabia is positively heading towards greater empowerment of women in the tourism sector

UNWTO Executive Director: It’s Time to Empower Women in the Region’s Tourism Sector

The UN World Tourism Organization (UNWTO) is set to launch the “UNWTO Women in Tech Startup Competition: Middle East” on September 27 in the Saudi capital city…

Business Turkish President Recep Tayyip Erdogan will visit Saudi Arabia, UAE, and Qatar (AFP)

Erdogan Reveals Gulf Pledges for Large Investments in Türkiye

Turkish President Recep Tayyip Erdogan has revealed receiving pledges from several Gulf countries to make significant investments in the country. Erdogan…

Saeed Abdulrazek (Ankara)
Business The MoU focuses on integrated utilities management. Photo: PIF Twitter Account

Saudi Arabia's PIF Signs MoU with France's Engie

Saudi Arabia's Public Investment Fund (PIF) on Thursday signed a memorandum of understanding (MoU) with French energy company Engie, PIF said in a tweet. …

Asharq Al Awsat
Business Container Volumes at Saudi Ports Report 6.79% Growth in June

Container Volumes at Saudi Ports Report 6.79% Growth in June

The Saudi Ports Authority (Mawani) has recorded a 6.79% year-on-year uptick in container numbers across its trade hubs during the month of June, handling 685…

Asharq Al Awsat
Business One of the facilities of the industrial city in Asir, southern Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia: Factory Investments Exceed $382 Billion, Up 6.5%

Factory investments in Saudi Arabia touched 1.433 trillion riyals ($382.1 billion) during the first quarter of 2023, an increase of 6.5 percent compared to the…

Asharq Al Awsat (Riyadh)
Business A Vista Global airplane. Asharq Al-Awsat

Private Aviation Booms in Gulf Countries, Saudi Arabia Leads the Growth

The Arab Gulf region is witnessing a rapid growth in private aviation, led by Saudi Arabia, and followed by the Emirates and Qatar. Dubai-based company,…

Mosaed al-Zayani (Dubai)
Business The forum's objective is to explore investment prospects between Saudi Arabia and Türkiye. SPA

Saudi Arabia, Türkiye Sign 16 Cooperation Agreements

The Saudi-Turkish Business Forum kicked off in Istanbul on Wednesday, with the presence of the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid…

Asharq Al Awsat
Business FILE: Tourists wait to be repatriated to their countries as Morocco suspends flights to European countries over coronavirus disease (COVID-19) fears, at Marrakech airport, Morocco, March 15, 2020. REUTERS/Youssef Boudlal

Morocco Plans to Expand National Airline to Boost Tourism

Morocco plans to quadruple the number of aircraft in its national carrier over the next 15 years to boost the tourism sector, a pillar of the North African…

Asharq Al Awsat
Business US consumer inflation rose 3.0 percent from a year ago in June 2023, official data showed, the lowest since March 2021
JUSTIN SULLIVAN - AFP

US Inflation Data Shows Lowest Rise in Two Years

US consumer inflation cooled in June to its lowest rate since early 2021, according to government data released Wednesday. The key inflation gauge, the…

Asharq Al Awsat
Business The beginning of 2024 will witness the establishment of a Saudi-US-Singapore partnership alliance. (Asharq Al-Awsat)

International Investors to Launch Global Real Estate Development Company in Saudi Arabia

Saudi Arabia is preparing to host regional headquarters for a number of international companies in conjunction with the launch of giant projects stimulating…

Fatehalrahman Youssef (Riyadh)
Business Iraqi laborers work at the Rumaila oil refinery in Zubair near the city of Basra, Iraq, Dec. 13, 2009. (AP File Photo)

Iraq Moves toward Easing its Energy Crisis with $27B TotalEnergies deal, but Challenges Remain

A multibillion-dollar agreement signed with France's TotalEnergies could help resolve Iraq's longstanding electricity crisis, attract international investors…

Asharq Al Awsat