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 The new floating terminal for liquefied gas boosts Croatia's import capacity. DENIS LOVROVIC / AFP/File

US Eyes European Gas Dominance through Balkans

As Europe weans itself off Russian energy, Washington is fast emerging as its largest gas supplier, with experts suggesting Croatia's Adriatic gas terminal…

Asharq Al Awsat
Business A view of Riyadh’s Financial District from the metro. (SPA)

Analysts to Asharq Al-Awsat: Policy Flexibility Strengthens Saudi Arabia’s Ability to Withstand Shocks

The International Monetary Fund (IMF) has raised its forecast for Saudi Arabia’s economy, projecting GDP growth of 5.5 percent in 2027, supported by a recovery…

Abeer Hommadi (Riyadh)
Business An old oil pump is pictured in Boca de Jaruco, Matabeque Province, Cuba on July 29, 2026. (AFP)

Oil Falls More Than $1 on Greater Flows Despite US-Iran War

Oil prices fell ‌on Friday but kept on track for a monthly rise of about a fifth, as more supplies flowed through crucial maritime chokepoints, despite a…

Business A cargo ship unloads imported iron ore at a port in Qingdao, in China's eastern Shandong province on July 30, 2026. (Photo by CN-STR / AFP)

China Factory Activity Slides as Leaders Seek Spending Boost

China's factory activity unexpectedly slid in July, official data showed Friday, as leaders in the world's second-largest economy struggle to reignite domestic…

Asharq Al Awsat
Business  A customer shops at a grocery store in Arlington Heights, Ill., Monday, July 6, 2026. (AP)

US Economic Growth Slows in Second Quarter, but Domestic Demand Robust

US economic growth slowed in the second quarter amid a widening in the trade deficit, but robust consumer spending and business investment related to the…

Business File photo of the Saudi capital Riyadh - (SPA). 

Saudi Budget Records More than $90 Billion in Revenue in Second Quarter

Saudi Arabia's budget recorded revenues of 338.8 billion riyals ($90.3 billion) in the second quarter of 2026, up 12% from the same period last year, driven by…

Asharq Al Awsat
Business Mawani Adds China Saudi Express Shipping Service to Jeddah Islamic Port

Mawani Adds China Saudi Express Shipping Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) announced today the addition of the China Saudi Express (CSE) shipping service, operated by Hizone Group, to Jeddah Islamic…

Asharq Al Awsat
Business Gulf economies absorb the impact of elevated US interest rates, supported by strong public finances and higher oil prices (Internet)

Gulf Economies Cushion Impact of Steady US Rates with Oil, Strong Public Finances

The Gulf economies are well positioned to absorb the impact of the US Federal Reserve's decision to keep interest rates at elevated levels, supported by strong…

Mosaed al-Zayani
Business The EU's statistics agency said the 21-country eurozone grew by 0.4 percent in the second quarter of 2026. JOEL SAGET / AFP/File

Eurozone Economy Grows despite Middle East War

The eurozone economy grew more than expected in the second quarter of 2026, data published Thursday showed, proving its resilience despite the energy shock…

Asharq Al Awsat
Business Spot gold fell 0.6% to $4,051.07 per ounce by 0726 GMT after rising as much as 1% on Monday. (Getty Images)

Gold Slips as Higher Treasury Yields Offset Focus on Warsh's Inflation Message

Gold prices slipped on Thursday, pressured by higher US Treasury yields, while markets assessed comments from Federal Reserve Chairman Kevin Warsh on tackling…

Asharq Al Awsat
Business A rig operates in the Permian Basin oil field in Texas, USA (Reuters)

Oil Prices Gain and Asian Shares are Mostly Lower as Investors Sell AI Stocks

Oil prices gained Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two…

Asharq Al Awsat
Business  The Saudi capital, Riyadh 

IMF Forecasts Saudi Economy to Grow 5.5% in 2027

The International Monetary Fund (IMF) expects Saudi Arabia’s economy to expand by 5.5 percent in 2027, driven by a recovery in both the oil and non-oil sectors…

Abeer Hommadi (Riyadh)
Business The Sharqia Development Authority announced that the metropolitan area joined as a single urban agglomeration. SPA

Saudi Arabia: Dammam Metropolitan Area Joins UN-Habitat's Global Quality of Life Initiative

Saudi Arabia’s Dammam Metropolitan Area, comprising the city of Dammam, Al-Khobar and Al-Bayda governorates, and Dhahran Center, has joined the global Quality…

Asharq Al Awsat (Dammam)
Business 15 July 2020, Berlin: The logo of Japanese car manufacturer Toyota Motor is pictured in Berlin. (dpa)

Japan Earthquake Prompts Toyota, Honda to Halt Plants Through Friday

Toyota said on Wednesday it would halt operations at three plants in southern Japan through Friday as it weighed the impact of an earthquake on suppliers and…

Business A man refuels his car at the petrol station in Kuala Lumpur, Malaysia, 24 July 2026. (EPA)

Oil Rises as US-Iran Tension Escalates After Iraq Strikes, Missile Attack

Oil prices rose by about $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia, and the interception of Iran's ballistic…

Business The agreement establishes a framework for cooperation between the two carriers by leveraging their respective capabilities and expertise. (SPA)

Saudia Cargo, Riyadh Cargo Sign Interline Agreement to Expand Global Connectivity

Saudia Cargo, the Kingdom's national air cargo carrier, and Riyadh Cargo, the cargo arm of Riyadh Air, signed an interline agreement today to strengthen…

Business The Saudi Energy Company's headquarters in Riyadh. (Saudi Energy)

Saudi Energy Secures $4Bn Murabaha Financing Facility to Support Operations

Saudi Energy, the Kingdom's primary power service provider, said it had secured a SAR15.8 billion ($4.1 billion) shariah-compliant Murabaha financing facility…

Business Bandr Alhomaly, CEO and Managing Director of Jada, and Turki Aldayel, Founder and CEO of Growth Catalyst, during the signing of the agreement. (Asharq Al-Awsat)

‘Jada’ Invests $200 Million to Expand Growth Equity Capital for Saudi SMEs

Jada Fund of Funds, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund, announced its strategic commitment to Growth Catalyst Fund I, a Saudi…

Asharq Al Awsat (Riyadh)
Business This specialized technology, previously manufactured exclusively in the US market, will now be produced in Saudi Arabia. (SPA)

Saudi Water Authority Announces Localization of Energy Recovery Devices Manufacturing

The Saudi Water Authority (SWA) announced on Tuesday the local manufacturing of energy recovery devices (ERDs), one of the strategic products in the…

Business Saudi EXIM Bank Signs Reinsurance Agreement with African Trade and Investment Development Insurance

Saudi EXIM Bank Signs Reinsurance Agreement with African Trade and Investment Development Insurance

Saudi Export-Import Bank (Saudi EXIM) has signed a reinsurance agreement with the African Trade and Investment Development Insurance (ATIDI) to strengthen…

Asharq Al Awsat
Business Spot gold fell 0.6% to $4,051.07 per ounce by 0726 GMT after rising as much as 1% on Monday. (Getty Images)

Gold Slips as Firm Dollar Weighs; Focus Turns to Fed Meeting

Gold prices fell on Tuesday, pressured by a stronger dollar as markets awaited the Federal Reserve's upcoming policy decision for clues on the interest rate…

Business A drone view shows the Portuguese flagged oil and chemical tanker ship CB Pacific docked at the Moran Shipping Agencies Citgo Petroleum Quincy/Braintree Terminal, which according to the company handles home heating oil, gasoline and diesel, after the CB Pacific arrived from Quebec, Canada to Braintree, Massachusetts, US, March 18, 2026. (Reuters)

Oil at One-Week Low as US and Iran Pause Attack

Oil prices edged lower on Tuesday, hovering around one-week lows amid hopes for a resolution in the US-Iran war, while subdued flow through the Strait of…

Business US President Donald Trump greets crowd at a rally at Wheeler High School north of Atlanta (dpa) 

Trump Economy Is a Tale of Shocks, Resilience, and Signs of Stalled Progress

The first 18 months of US President Donald Trump's second term in the White House have seen a series of policy-driven economic shocks, highlighted by the…

Asharq Al Awsat (London)
Business Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF and representatives of Brookfield (Asharq Al-Awsat)

Brookfield Raises $2 Billion in PIF-Anchored Middle East-Focused Fund

Brookfield Corp on Monday announced the first close of Public Investment Fund (PIF)-anchored Brookfield Middle East Partners (BMEP), raising about $2 billion…

Asharq Al Awsat (New York)