Business

Saudi Gold Refinery Obtains 10 Gold Exploration Licenses in Tanzania

Business A gold mine in Saudi Arabia (SPA) 

Saudi Gold Refinery Obtains 10 Gold Exploration Licenses in Tanzania

Saudi Gold Refinery Company (SGR) announced Sunday it has secured 10 licenses to explore gold in the Republic of Tanzania, covering a total area of nearly 1…

Asharq Al Awsat (Riyadh)
Business A worker walks past oil pipes at a refinery in Wuhan, Hubei province March 23, 2012. (Reuters)

Oil Falls as Trump Says New Iran Attacks ‘Unlikely’

Oil prices fell at Monday's open after US President Donald Trump said he was highly unlikely to order new Iran attacks while talks to end the conflict make…

Business A conceptual rendering of the Gulf railway interconnection project. (X)

Bahraini Transport Minister to Asharq Al-Awsat: Each Country to Finance Its Share of Gulf Railway Project

The Gulf Cooperation Council (GCC) member states took a new step toward completing the railway interconnection project by signing the project's general…

Merza al-Khuwaldi (Manama)
Business Egyptian Foreign Minister Badr Abdelatty speaks during a press conference with Minister of Information Diaa Rashwan (not pictured) in Cairo, Egypt, March 25, 2026. (Reuters)

Egypt Seeks Faster Progress on Libya Gas, Refining and Power Projects

Egypt aims to accelerate energy projects with Libya, including gas pipeline links, refining of Libyan crude in Egypt and an electricity interconnection,…

Business GCC transport ministers pose for a group photo following the 27th committee meeting in Kuwait. (GCC Railway Authority)

GCC: Railway Agreement Sets Joint Framework for Project Implementation and Operation

Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council (GCC), said on Sunday that the signing of the General Agreement on the GCC Railway Project…

Asharq Al Awsat (Manama)

Business Cybercrime Damages to Cost $6 Trillion by 2021

Cybercrime Damages to Cost $6 Trillion by 2021

CEO and Co-founder of Cyex, specialized in cybersecurity in Hungary, Daniel Berzsenyi estimated the losses by cyberattacks to reach $6 trillion by 2021. …

Fatehelrahman Yousif (Riyadh)
Business ABIC Reiterates Importance of Keeping up with Economic Boom

ABIC Reiterates Importance of Keeping up with Economic Boom

The Arab Businessmen and Investors Conference (ABIC) held in Bahrain called for practical action to catch up with the new wave of technology-based economic…

Mohammed al-Hamidi (Manama)
Business Oil Prices Fluctuate, Impacted by Global Economy Slowdown

Oil Prices Fluctuate, Impacted by Global Economy Slowdown

Oil prices returned to the normal with the end of the first week of November due to concerns over the growth of the global economy and the increase of oil…

Motleq Mounir (London)
Business Companies Listed on 'Tadawul' Make Profits Worth 17B in 9 Months

Companies Listed on 'Tadawul' Make Profits Worth 17B in 9 Months

Recent figures issued by the Saudi Stock Exchange (Tadawul) reveal that the percentage of ownership of foreign investors increases from week to another in…

Shujaa al-Baqmi (Riyadh)
Business 'Artificial Intelligence' Will Drive Global Economic Growth, Sharjah FDI Forum 2019

'Artificial Intelligence' Will Drive Global Economic Growth, Sharjah FDI Forum 2019

Topics on the Fourth Industrial Revolution and Artificial Intelligence dominated discussions in the fifth edition of the Sharjah Foreign Direct Investment…

Asharq Al Awsat (Sharjah)
Business Egypt Sovereign Wealth Fund to Raise Authorized Capital to up to 1 Trillion Pounds

Egypt Sovereign Wealth Fund to Raise Authorized Capital to up to 1 Trillion Pounds

Egypt's sovereign wealth fund is expected to increase its authorized capital to up to a trillion Egyptian pounds ($62.15 billion) from 200 billion pounds…

Asharq Al Awsat
Business ADIPEC 2019: Oil, Gas Remain Essential Pillars of the Future Energy Mix

ADIPEC 2019: Oil, Gas Remain Essential Pillars of the Future Energy Mix

Oil and gas industry will remain an essential pillar of the future diversified energy mix, calling on the industry to modernize in response to disruptions on…

Asharq Al Awsat (Abu Dhabi)
Business Egypt Targets 6.4% Growth, 6.2% Deficit in Coming FY

Egypt Targets 6.4% Growth, 6.2% Deficit in Coming FY

Egypt’s Finance Minister Mohamed Maait said Monday that the government is targeting positive results for the coming fiscal year regarding financial indices,…

Asharq Al Awsat (Cairo)
Business Lebanon Banks Discuss Staff Strike Call, Say They Will Protect Employees

Lebanon Banks Discuss Staff Strike Call, Say They Will Protect Employees

Lebanon’s banks held an emergency meeting on Monday to discuss a strike call by a union worried about staff security, the country’s banking association said,…

Asharq Al Awsat
Business Lebanon: Central Bank Tries to Calm Nerves as Bank Employee Union Calls for Strike

Lebanon: Central Bank Tries to Calm Nerves as Bank Employee Union Calls for Strike

Lebanese Central Bank Governor Riad Salameh sought on Monday to calm nerves by saying bank deposits are secure and that there won't be any capital controls. …

Asharq Al Awsat
Business Saudi Jadwa Investment Signs Private Equity Exit Worth $450 Million

Saudi Jadwa Investment Signs Private Equity Exit Worth $450 Million

Jadwa Investment, a leading regional investment management and advisory firm, announced Sunday completing a SAR1.7 billion ($450 million) trade sale exit for…

Asharq Al Awsat (Riyadh)
Business Iran: New Oil Find Adds Only 22 Bln Barrels to Reserves

Iran: New Oil Find Adds Only 22 Bln Barrels to Reserves

Iran's oil minister said Monday that an oil field whose discovery President Hassan Rouhani announced a day earlier adds only 22.2 billion barrels to the…

Asharq Al Awsat
Business Suez Canal is 'Lifeline' for Egypt, Says Authority Head

Suez Canal is 'Lifeline' for Egypt, Says Authority Head

One hundred and fifty years after the Suez Canal opened, the international waterway is hugely significant to the economy of modern-day Egypt, which…

Asharq Al Awsat
Business Riyadh Season Witnesses over $41Mn in Financial Operations

Riyadh Season Witnesses over $41Mn in Financial Operations

The Riyadh Season helped revive financial operations in the Saudi capital with more than 333,000 transactions made through more than 200,000 bank cards at the…

Asharq Al Awsat (Riyadh)
Business Saudi Companies to Conclude Announcing Financial Results on Monday

Saudi Companies to Conclude Announcing Financial Results on Monday

Saudi companies will conclude on Monday the announcement period of their financial results for the Q3 2019. These results are complementary to the first…

Shujaa al-Baqmi (Riyadh)
Business One Family Built Forever 21, and Fueled its Collapse

One Family Built Forever 21, and Fueled its Collapse

When Forever 21 filed for bankruptcy in September, the fast fashion chain described its history in documents that read, at times, like a pitch for a memoir or…

Sapna Maheshwari (New York)
Business Offshore Oil and Gas Exploration Equipment Arrives in Beirut

Offshore Oil and Gas Exploration Equipment Arrives in Beirut

Equipment to explore for offshore oil and gas from the Total company has arrived in Lebanon. Caretaker Energy Minister Nada al-Boustani inspected the…

Asharq Al Awsat (Beirut)
Business Saudi Aramco Stock Offering to Launch November 17

Saudi Aramco Stock Offering to Launch November 17

Saudi Aramco announced in a prospectus Saturday that its much-anticipated initial public offering will begin on November 17, with a final share price to be…

Asharq Al Awsat
Business Egypt's Inflation Lowest in Nearly a Decade

Egypt's Inflation Lowest in Nearly a Decade

Egypt's inflation rate dropped to the lowest level in nearly a decade last month, official figures showed Saturday, as cheaper food offered respite to…

Asharq Al Awsat
Business Iraq: Oil Production, Exports Stable Amid Protests

Iraq: Oil Production, Exports Stable Amid Protests

Iraq’s oil production and export rates remain stable, Oil Minister Thamer Ghadhban said on Saturday, as the country remained gripped by widespread anti…

Business Billionaires' Wealth Falls for First Time Since 2015

Billionaires' Wealth Falls for First Time Since 2015

The world’s richest people became a little less well off last year, according to a report by UBS (UBSG.S) and PwC, as geopolitical turmoil and volatile equity…

Business Saudi Medical Industry Seeks African Market

Saudi Medical Industry Seeks African Market

The Saudi Export Development Authority (SEDA) wants to promote the medical and health industries in the Kingdom, this time, through an African Conformity…

Asharq Al Awsat (Riyadh)
Business Banks Impose New Measures, Intensify Fears From Financial Crisis In Lebanon

Banks Impose New Measures, Intensify Fears From Financial Crisis In Lebanon

At 1:55 pm local time, a Lebanese young man arrives at the entrance of one of the country’s largest banks, asking to enter to withdraw money. However, the…

Nazeer Rida (Beirut)
Business $300 Million World Bank Loan to Support Morocco’s Municipalities

$300 Million World Bank Loan to Support Morocco’s Municipalities

The World Bank has approved a $300 million loan to support the strengthening of Morocco’s municipalities, an objective that is part of the Kingdom’s broader…

Asharq Al Awsat (Casablanca)