Business

World Bank Projects Lebanon Economy to Contract by 6.4% Due to War

Business People inspect a damaged building after an Israeli airstrike on the village of Ansar, southern Lebanon, 15 August 2026. (EPA)

World Bank Projects Lebanon Economy to Contract by 6.4% Due to War

The World Bank on Friday projected that Lebanon's economy would contract by 6.4 percent this year, as the latest Israel-Hezbollah war derailed the country's…

Business Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui

Tunisia Olive Oil Exports Surge 55%, Bringing in $1.6 billion

Tunisia's olive oil exports surged 55.3% to a record 368,000 metric tons in the first nine months of the 2025/26 season, bringing in $1.6 billion in export…

Asharq Al Awsat
Business South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration

South African Rand Hits Strongest Level since Start of Iran War

The South African rand strengthened on Friday to its strongest level since the United States and Israel launched attacks on Iran on February 28, as rising gold…

Asharq Al Awsat
Business FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin Jumps Further on US Crypto Policy Hopes

Bitcoin surged Friday on optimism over US cryptocurrency legislation and the US Treasury's surprise move to buy back more of its own bonds, which fueled a…

Asharq Al Awsat
Business FILE PHOTO: A salesman arranges gold bangles inside a jewelry showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo

Gold Climbs to Near Three-month Peak after US Treasury Move

Gold prices hit a near three-month high on Friday, poised for a third straight weekly gain, supported by a softer dollar and the US Treasury's bond buyback…

Asharq Al Awsat

Business Engineers monitor operations at a Saudi Aramco facility. (Aramco)

Aramco’s Resilience Strengthens its Ability to Weather Energy Market Volatility

Saudi Aramco’s second-quarter 2026 results underscored the company’s ability to maintain strong financial and operational performance despite geopolitical…

Abeer Hommadi (Riyadh)
Business The King Abdullah Financial District (KAFD) in Riyadh (KAFD)

Saudi Finance Ministry Warns Against Starting Government Projects Before Contract Awards

As Saudi Arabia steps up efforts to strengthen discipline in public procurement and contract execution, the government has approved a new Government Tenders…

Bandar al-Mosalam (Riyadh)
Business The Saudi capital Riyadh. SPA

12th Riyadh Economic Forum to Kick Off in October

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the 12th Riyadh Economic Forum is scheduled to be held from October…

Asharq Al Awsat
Business A Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport in Riyadh on June 7, 2026. (AFP)

Riyadh Air Launches Direct Flights to Mumbai as Eighth International Destination

Riyadh Air launched its inaugural flight to Mumbai, marking its entry into the Indian market. Mumbai becomes the airline's eighth scheduled destination, just…

Asharq Al Awsat
Business Two men talk at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia. (Reuters)

Saudi Market Extends Gains on Support from Blue-Chip Stocks

The Saudi Stock Exchange's main index (TASI) ended Wednesday's session up 0.3%, closing at 10,888 points, a gain of 29 points and its highest close in more…

Asharq Al Awsat
Business Combine harvesters work on a field in the Kharkiv area, Ukraine, 03 August 2026, amid the ongoing Russian invasion. (EPA)

World Faces Fresh Food Price Surge, FAO Warns

The world is on the verge of another bout of food inflation as wars in Iran and Ukraine along with El Nino create a perfect storm of higher costs and lower…

Business A man rides a tricycle to carry belongings in Beijing Wednesday, Aug. 5, 2026. (AP Photo/Achmad Ibrahim)

China Announces 'Countermeasures' after US Trade Sanctions

China announced restrictions on drone exports to the United States and blacklisted six companies on Wednesday in response to trade sanctions imposed by…

Asharq Al Awsat
Business This handout photograph taken and released by Ukrainian State Emergency Service on August 5, 2026 shows rescuers working outside a warehouse premises damaged following massive Russian ballistic missile and drones strikes in the Ukrainian capital of Kyiv. (Photo by Handout / Ukrainian State Emergency Service / AFP)

EU to Use €1.4 Billion from Interest on Frozen Russian Assets to Help Ukraine

European Union will use €1.4 billion ($1.6 billion) taken from interest generated by frozen Russian assets to help Ukraine, the European Commission said on…

Asharq Al Awsat
Business The Consortium’s agreement to acquire EA was previously announced on September 29, 2025, and was approved by EA stockholders at the special meeting of stockholders held on December 22, 2025. (PIF)

Electronic Arts Announces Completion of Acquisition by Saudi Public Investment Fund-Led Consortium

Electronic Arts, a global leader in interactive entertainment, announced on Tuesday that its acquisition by Saudi Arabia’s Public Investment Fund, as well as…

Business One kilogram gold bars are seen in this picture illustration taken at the Korea Gold Exchange in Seoul August 9, 2011. (Reuters)

Gold Hits One-Month Peak on Lower Oil and Softer Dollar

Gold rose for a third straight session on Wednesday, hitting a one-month peak on a softer dollar and lower oil prices, while investors awaited US jobs data for…

Business The GM logo is seen on the China Headquarters in Shanghai, China, August 29, 2022. REUTERS/Aly Song/File Photo

GM Renews China Joint Venture with SAIC for 20 Years after Restructuring

General Motors said on Tuesday it had renewed its joint-venture agreement with China's SAIC Motor for 20 years after a lengthy restructuring in the Chinese…

Asharq Al Awsat
Business The silhouette of Elon Musk and SpaceX logo are seen in this illustration created on June 11, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

Options Market Braces for $225 Billion Swing in SpaceX's Value as Earnings Loom

Traders in the options market are braced for a swing of roughly $225 billion in the value of SpaceX shares following its first-ever earning report on Tuesday,…

Asharq Al Awsat (New York)
Business The Saudi capital Riyadh. SPA

Saudi Non-Oil Private Sector Continues to Grow on Strong Domestic Demand

Saudi Arabia’s non-oil private sector continued to expand in July, driven by improving domestic demand and ongoing growth in output, despite continued pressure…

Asharq Al Awsat (Riyadh)
Business The artificial intelligence AI acronym at the 10th edition of the VivaTech technology startups and innovation fair in Paris, France, June 18, 2026. REUTERS/Gonzalo Fuentes

World Bank Calls on Developing Countries to Embrace AI for Better Governance

The World Bank on Tuesday called on developing countries to embrace artificial intelligence technology tools to deliver better governance outcomes, warning…

Asharq Al Awsat (Washington)
Business Diving at Nabq Nature Reserve (Environment Ministry)

Egypt Moves to Boost Tourism Investment in Nature Reserves

Egypt is seeking to turn Nabq Nature Reserve in South Sinai into a model for sustainable ecotourism, as part of a broader drive to develop protected areas and…

Asharq Al Awsat (Cairo)
Business Ships in the Strait of Hormuz on August 3, 2026 (Reuters)

Iraq Exported 30 mn Barrels of Crude via Hormuz in a Month: Monitor

Iraq exported over 30 million barrels of crude oil in one month through the strategic Strait of Hormuz, data from the maritime tracking firm Kpler showed on…

Asharq Al Awsat
Business ECCKSA CEO Kristijonas Gedvilas at an event (Asharq Al-Awsat)

European Chamber of Commerce Looks to Expand Trade and Investment With Saudi Arabia

The European Chamber of Commerce in Saudi Arabia (ECCKSA) said economic relations between the European Union and Saudi Arabia are entering a new phase of…

Fatehelrahman Yousif (Riyadh)
Business A Saudi Aramco facility (Aramco)

Riyadh Combines Supply Security and Diplomacy to Calm Energy Markets

As mounting geopolitical tensions threaten global energy supply routes, Saudi Arabia has emerged as a pivotal player in safeguarding oil market stability,…

Bandar al-Mosalam (Riyadh)
Business SABIC continues to be committed to serving its customers across the globe, relying on its strong technology and innovation capabilities - SPA

SABIC Completes Divestment of Engineering Thermoplastics Business in Americas and Europe

The Saudi Basic Industries Corporation (SABIC) has completed the divestment of its Engineering Thermoplastics (ETP) business in the Americas and Europe to…

Asharq Al Awsat
Business FILE PHOTO: Goldman Sachs logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic//File Photo

Goldman Sees Brent at $80-$90 Until US-Iran Deal or Major Escalation

Goldman Sachs said on Tuesday it expects Brent crude to trade in an $80-$90 per barrel range until there is either confirmation of a new US-Iran nuclear deal…

Asharq Al Awsat
Business BP reported second-quarter profit more than doubled to $5.73 billion, beating forecasts thanks to higher energy prices. Reuters

BP's Quarterly Profit Doubles to Over $5 Billion after Iran War Oil Surge

BP reported second-quarter profit more than doubled to $5.73 billion, beating forecasts thanks to higher energy prices, trading and refining margins, as CEO…

Asharq Al Awsat (London)
Business A drone view shows a Chinese-flagged oil tanker moored at an oil terminal at Tsing Yi port, with Tsing Ma bridge in the background, in Hong Kong, China March 19, 2026. (Reuters)

Oil Ticks up After Selloff as Talks to End US-Iran War Remain Uncertain

Oil prices rebounded 1% on Tuesday from a plunge in the previous session, fueled by concerns that Middle East supply remains at risk as a diplomatic resolution…

Business 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. (dpa)

Gold Holds Ground with Middle East Turmoil, US Jobs Data in Focus

Gold nudged higher on Tuesday as investors weighed mixed signals on potential US-Iran talks and awaited a series of US labor market reports for clues on the…

Business 3D-printed oil pump jacks and the Saudi Aramco logo appear in this illustration taken March 2, 2026. (Reuters)

Saudi Aramco Reports Net Income of $32.7 Bln in Second Quarter

Saudi Aramco on Tuesday said its net profit rose 44 percent in the second quarter year-on-year as the Middle East war pushed oil and gas prices higher. …