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 An initiative to improve local Saudi talent in AI (Asharq Al-Awsat)

Saudi Arabia Prepares for the AI Age by Building National Talent

Saudi Arabia has moved forward in preparations for the age of artificial intelligence through a strategy that combines digital infrastructure development with…

Asma al Ghabri (Jeddah)
Business The agreements are part of both parties’ efforts to advance Saudi Arabia’s local content agenda (Asharq Al-Awsat)

2 Agreements Signed to Localize EV Manufacturing in Saudi Arabia

The Local Content and Government Procurement Authority (LCGPA) signed two agreements with CEER National Automotive Co. to localize electric vehicle (EV)…

Asharq Al Awsat (Riyadh)
Business A Riyadh Air Boeing 787-9 Dreamliner is seen before the opening of the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 13, 2025. (Reuters)

Riyadh Air Opens Bookings for Direct Flights Connecting Saudi Capital with Pakistan, Philippines

Riyadh Air announced on Monday the expansion of its global network in Asia with the launch of new flights connecting Riyadh with Islamabad, Lahore, and Manila…

Business The Amazon logo outside an Amazon warehouse in Manchester, Britain, October 28, 2025. (Reuters)

Amazon Enters $3 Trillion Club as AI, Cloud Growth Power Rally

‌Amazon's market value topped $3 trillion for the first time on Monday, helped by a sharp rally following strong earnings and signs that the AI boom is…

Business Turkish Central Bank (Reuters)

Türkiye's July Trade Deficit Widens 14% Year-on-year

Türkiye's trade deficit widened 14% year-on-year in July to reach $7.3 billion, Trade Minister Omer Bolat said on Monday, Reuters reported. Bolat said…

Asharq Al Awsat
Business British gold Sovereign bars and coins are displayed at Baird & Co.'s headquarters in Hatton Garden, London (Reuters)

Gold Gains as US Dollar Declines, Hopes of Mideast Deal Hit Oil

Gold prices gained on Monday as the dollar weakened and optimism over a possible US-Iran agreement sent oil prices sharply lower, tempering inflation fears and…

Asharq Al Awsat
Business European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, March 19, 2026. (Reuters)

Iran War Hit Euro Zone Consumption Especially Hard, ECB Says

Euro zone ‌household consumption fell sharply in the early weeks of the Iran war as confidence tumbled, suggesting that renewed conflict could again…

Business A view of the Gaslog Salem vessel at sea off the coast of Geoje, South Gyeongsang Province, South Korea, February 7, 2015. Vladimir Tonic/Handout via REUTERS/File Photo

Greek Shipper GasLog Says LNG Tanker Stable after Strait of Hormuz Incident

A liquefied natural gas vessel controlled by Greek shipping company GasLog was stable after an incident while exiting the Strait of Hormuz, with everyone on…

Asharq Al Awsat
Business Technicians work on a Cobra II, armored personnel carrier, at a production line at Türkiye's heavy commercial and armored vehicle manufacturer Otokar factory in Arifiye, a town in Sakarya province, Türkiye, July 13, 2023. REUTERS/Umit Bektas/File Photo

Turkish Manufacturing Contracts Slightly in July, PMI Shows

Tü‌rkiye’s manufacturing sector contracted again in July as subdued market conditions and weaker domestic and international demand led firms to cut output…

Asharq Al Awsat
Business Aseer’s unique natural landscape and growing influx of visitors are enhancing the region’s appeal to investors in the tourism sector. (SPA)

Saudi Arabia’s Aseer Expands Tourism Investment Through Infrastructure and Air Connectivity

Saudi Arabia’s Aseer region is no longer relying solely on its natural beauty. Instead, it is building an integrated tourism economy led by the Aseer Region…

Saeed al-Abyad (Jeddah)
Business With the acquisition, SAL expands its network and gains a direct operating base at Liège Airport in Belgium. (SAL)

Saudi SAL Logistics Acquires Aviapartner Liège in First International Expansion

Saudi SAL Logistics Services Company on Sunday announced the completion of its acquisition of 100% of the share capital of Aviapartner Liège SA, marking SAL’s…

Asharq Al Awsat (Riyadh)
Business File photo: Oil storage tanks in Hong Kong (dpa)

Oil Tumbles as Trump Cancels Attack on Iran to Reach Nuclear Deal

Oil prices tumbled more than $4 a barrel on Monday after US President Donald Trump held off on a fresh attack on Iran, seeking to reach a quick deal that would…

Asharq Al Awsat
Business The OPEC logo is seen in this illustration taken June 25, 2026. (Reuters)

OPEC+ Agrees September Oil Hike

OPEC+ approved an oil production quota increase on Sunday of around 188,000 barrels per day from September, the producer group said, in a move that completes…

Business  A Chinese woman uses an umbrella to shield herself from the sun, in Beijing, China, Saturday, Aug. 1, 2026. (AP)

China’s Central Bank Pledges Timely Policy Tool Adjustment

China's central bank pledged to adjust monetary policy tools in a timely manner and facilitate panda bond issuance, a statement showed on Sunday. The People…

Business A general view of Riyadh city in the early evening hours (Reuters)

Saudi Telecom Companies Post Record Revenue

Saudi Arabia’s listed telecommunications companies generated record first-half 2026 revenue of SAR55.53 billion ($14.8 billion), up 3.59 percent year on year,…

Mohammed al-Mutairi (Riyadh)
Business A general view at Türkiye Mediterranean port of Ceyhan. REUTERS/Umit Bektas/ File Photo

Türkiye, Iraq Sign One-year Oil Pipeline Deal

Türkiye and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the two countries, Turkish Energy Minister Alparslan…

Asharq Al Awsat
Business The Saudi-US agreement opens new avenues for bilateral cooperation (Internet).

Analysts: Saudi-US Nuclear Deal Offers Strategic Gains for Both Sides

The civil nuclear cooperation agreement between Saudi Arabia and the United States is expected to usher in a new phase of economic and technological…

Fatehelrahman Yousif (Riyadh)
Business An aerial view shows the artificial islands at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan October 16, 2013. (Reuters)

Kazakh Energy Ministry: Full Stoppage of CPC Not Under Consideration

Kazakhstan's energy ministry said on Saturday that a complete stoppage of the Caspian Pipeline Consortium's operations was not being considered and that the…

Asharq Al Awsat
Business The government considers the Fund's report a testament to economic performance (Reuters)

New IMF Funding Consolidates Egyptian Economy Against Growing Regional Turbulence

Egypt is counting on the disbursement of new funding from the International Monetary Fund to help shield its economy from escalating regional instability,…

Asharq Al Awsat (Cairo)
Business FILE PHOTO: BP CEO appointee Meg O'Neill attends a meeting, hosted by Britain's Prime Minister Keir Starmer, to discuss the US-Israeli conflict with Iran and the impact on the Strait of Hormuz, in London, Britain, March 30, 2026. REUTERS/Jaimi Joy/Pool/File Photo

BP Puts UK North Sea Oil and Gas Assets Up for Sale as CEO Pushes Overhaul

BP wants to sell its British oil and gas fields in the North Sea which could fetch more than $2 billion, according to estimates, as new Chief Executive Officer…

Asharq Al Awsat (London)
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 Expands to Southeast Asia with Direct Flights to Kuala Lumpur

Riyadh Air, the Kingdom’s national carrier and a Public Investment Fund (PIF) company, has launched its inaugural direct flight to Kuala Lumpur, marking its…

Asharq Al Awsat
Business FILE PHOTO: Gold necklaces are on display inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India April 18, 2018. REUTERS/Francis Mascarenhas/File Photo

Gold Retreats but Poised to End Best Month since February

Gold slid 2% on Friday as the US dollar rebounded from a more than one-month low hit in the previous session, though the metal was still on track for its first…

Asharq Al Awsat
Business FILE PHOTO: Amazon logo outside an Amazon warehouse in Manchester, Britain, October 28, 2025. REUTERS/Phil Noble/File Photo

Amazon Lifts Investment Plans after Strong Cloud Sales; Shares Jump

Amazon delivered its strongest cloud growth in more than four years and raised its annual capital spending forecast, bolstering its argument that heavy…

Asharq Al Awsat
Business The full moon known as the "Buck Moon" rises over residential buildings in the capital city of Cairo, Egypt, July 29, 2026. (Reuters)

IMF Completes Egypt Reviews, Unlocks $1.8 Billion

The International Monetary Fund said on Thursday it completed two reviews of some facilities for Egypt, giving the country access to about $1.8 billion. …