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UN's FAO: World Food Prices Fall for 3rd Month in November

Business FILE PHOTO: Prices of food are displayed at the Borough Market in London, Britain May 22, 2024. REUTERS/Maja Smiejkowska/File Photo

UN's FAO: World Food Prices Fall for 3rd Month in November

World food commodity prices fell for a third consecutive month in November, with all major staple foods except cereals showing a decline, the United Nations'…

Asharq Al Awsat (London)
Business The Saudi flag. Asharq Al-Awsat

World Bank Forecasts 4.3% Growth for Saudi Economy, Supported by Non-Oil Activities

The World Bank affirmed on Thursday that Saudi Arabia's economy has gained significant momentum for 2026-2027, driven by robust non-oil sector expansion under…

Asharq Al Awsat (Washington) Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A drone view of London's Canary Wharf financial district, two days before the government presents its critical pre-election budget, in London, Britain March 3, 2024. REUTERS/Yann Tessier/File Photo

Visa Relocates European Headquarters to London's Canary Wharf

Visa is relocating its European headquarters to London's Canary Wharf financial district, the Canary Wharf Group said on Friday. The firm is leasing 300…

Asharq Al Awsat (London)
Business GCC leaders and their representatives attend the 46th Gulf Summit held in the Bahraini capital (BNA) 

World Bank Raises GCC Growth Forecast

The World Bank has lifted its growth forecast for the Gulf Council Cooperation (GCC) to 4.5% for 2026, supported by structural reforms and rapid digital…

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Business The agreements were signed during the "Industrial Transformation Saudi Arabia 2025” Exhibition. SPA

Saudi Industry Ministry Signs MoUs to Advance Manufacturing Empowerment

The Ministry of Industry and Mineral Resources has signed a number of memoranda of understanding (MoUs) with leading local and international companies to…

Asharq Al Awsat (Riyadh)

Business The United States on October 14 will start charging a special port entrance fee for ships built in China or linked to Chinese companies. Matthew Hatcher / AFP/File

China Suspends 'Special Port Fees' on US Vessels

China said Monday it would suspend for one year "special port fees" on US vessels "simultaneously" with Washington's pause on levies targeting Chinese ships,…

Asharq Al Awsat
Business FILE PHOTO: A goldsmith weighs gold jewelry inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo

Gold Hits Two-week High on Fed Rate-cut Bets, Slowdown Worries

Gold prices jumped to a two-week high on Monday, helped by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic…

Asharq Al Awsat
Business Investors have been boosted by reports US lawmakers have reached a deal to end the record government shutdown. Anna Rose Layden / GETTY IMAGES NORTH AMERICA/AFP

Markets Boosted by Hopes for Deal to End US Shutdown

Equities rallied Monday on hopes that the US government shutdown could be nearing an end after reports said lawmakers had reached a deal to break the record…

Asharq Al Awsat
Business Saudi and Qatari officials are seen at the signing ceremony on Sunday. (SPA)

Saudi Arabia, Qatar Sign MoU to Cooperate in Tourism Promotion 

The Saudi Tourism Authority and Qatar Tourism signed on Sunday a memorandum of understanding (MoU) to cooperate in tourism promotion and marketing, supporting…

Business A view of Riyadh on August 29, 2025. (Reuters)

Riyadh Gears Up for Inaugural TOURISE 2025 Under Crown Prince’s Patronage 

Under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, Riyadh is set to host the inaugural edition of…

Business Saudi Arabia Underlines Commitment to Responsible Mineral Sourcing at Paris Peace Forum

Saudi Arabia Underlines Commitment to Responsible Mineral Sourcing at Paris Peace Forum

The Saudi Ministry of Industry and Mineral Resources reaffirmed the Kingdom’s commitment to responsible mineral sourcing and sustainable resource governance at…

Business A view of Riyadh during Riyadh Season. (SPA)

Venezuela Says ‘Extraordinary’ Opportunities Available for Tourism Cooperation with Saudi Arabia

Venezuela’s Minister of Tourism Leticia Gomez said “extraordinary” opportunities for bolstering tourism cooperation with Saudi Arabia were available in line…

Fatehelrahman Yousif (Riyadh)
Business DENVER, COLORADO - NOVEMBER 8: A display board shows canceled flights at Denver International Airport on November 6, 2025 in Denver, Colorado. Michael Ciaglo/Getty Images/AFP

US Airlines Brace for Third Day of Government-mandated Flight Cuts

Major airlines braced for a third day of government-mandated flight cuts Sunday after rising air traffic control staffing shortages snarled thousands of…

Asharq Al Awsat
Business  People watch golden Ginkgo leaves as they visit the Zhongshan Park in Beijing on November 9, 2025. (AFP)

China’s Factory-Gate Deflation Eases in October, Consumer Prices Rise

China's producer price deflation eased in October and consumer prices returned to positive territory, data showed on Sunday, as the government steps up efforts…

Business Nikolai Podguzov met with Saudi Deputy Minister of Finance for International Relations Khalid Bawazier on the sidelines of FII held in Riyadh. Photo: Podguzov’s LinkedIn account

EDB Tells Asharq Al-Awsat it Aims to ‘Promote the Gulf-Eurasia Investment Corridor’

Chairman of the Management Board of the Eurasian Development Bank (EDB) Nikolai Podguzov has said that the bank aims to build partnerships, deploy its…

Fatehelrahman Yousif (Riyadh)
Business FILE PHOTO: The logo of computer chipmaker Nexperia is seen in Nijmegen, Netherlands April 12, 2024. REUTERS/Piroschka van de Wouw/File Photo

EU Says China Confirms Nexperia Chip Export Resumptions

The European Commission said Saturday that Chinese authorities had confirmed a partial resumption of Nexperia chips, easing a blockage that has alarmed…

Asharq Al Awsat
Business General view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia Targets Broader Tourist Market, Minister Says

Saudi Arabia is building up its mid- and upper-mid-range tourism options and plans to increase access to hotel accommodation for religious pilgrimages after…

Asharq Al Awsat
Business A container ship is seen at the loading terminal "Altenwerder" in the port of Hamburg, Germany, February 17, 2025. REUTERS/Fabian Bimmer

Germany to Re-examine 'Security-relevant' China Trade Policies

Germany's coalition government plans to re-examine its trade policies towards China including on energy, raw material imports and Chinese investment in…

Asharq Al Awsat
Business Monsha’at Leads Saudi Startups to Web Summit Lisbon for Global Expansion

Monsha’at Leads Saudi Startups to Web Summit Lisbon for Global Expansion

The Small and Medium Enterprises General Authority (Monsha’at) is participating from November 10 to 13 in the Web Summit 2025 in Lisbon, Portugal, one of…

Asharq Al Awsat
Business Egypt reveals new gas discovery in the Western desert - File photo/Reuters

Egypt Announces New Gas Discovery in Western Desert

Egypt's petroleum ministry on Saturday announced a new gas discovery in the Western Desert. In a statement, the ministry said the new well discovered by…

Asharq Al Awsat
Business  A person walks toward the entrance of the Capital Area Food Bank, Thursday, Nov. 6, 2025, in Washington. (AP Photo/Mark Schiefelbein)

Washington's Struggling Economy Takes Another Economic Hit from the Government Shutdown

With the combination of the longest government shutdown, the mass firings of government workers and a fresh cut in federal food aid, the Capital Area Food…

Asharq Al Awsat
Business Al-Khateeb Speaks at the opening of the UN Tourism General Assembly’s 26th Session (X)

Saudi Tourism Minister Says Partnerships Are Key to Progress

Saudi Arabia underscored its central role as a leader in the global tourism sector by hosting the twenty sixth session of the UN Tourism General Assembly, the…

Asharq Al Awsat (Riyadh)
Business Stacks of Indonesian rupiah banknotes equivalent to 800 million USD is displayed in the lobby of the Attorney General's Office building during the handover of assets recovered from the corruption case involving the provision of Crude Palm Oil export facilities, in Jakarta on October 20, 2025. (Photo by BAY ISMOYO / AFP)

Indonesia Plans a Bill to Redenominate Rupiah Currency

Indonesia's finance ministry said it is planning a new bill to redenominate the rupiah in an effort to improve economic efficiency, maintain stability and…

Asharq Al Awsat
Business A woman wearing a face mask walks on a street in Beijing, China, 06 November 2025.  EPA/WU HAO

China’s Central Bank Buys Gold for 12th Straight Month

China's central banks added gold to their reserves for the 12th consecutive month in October, data from the People's Bank of China showed on Friday. China's…

Asharq Al Awsat (Beijing)
Business Panamanian-flagged Caribbean Glory vessel with a capacity of 2 million barrels of oil, loads crude oil at a TLU (Tanker Loading Unit) in the Gulf of Morrosquillo, operated by Cenit, owned by Ecopetrol, in Covenas, Colombia October 1, 2025. REUTERS/Nelson Bocanegra

Oil Heads for Second Weekly Loss on Lingering Oversupply Concerns

Oil prices rose on Friday but remained on track for a second consecutive weekly loss after three days of declines on worries about excess supply and slowing US…

Asharq Al Awsat
Business A glass jar containing the rare earth metal Terbium (L) is pictured inside the storage room of Tradium, a company specialised in trading rare earths, in Frankfurt am Main, western Germany, on November 4, 2025. (Photo by Kirill KUDRYAVTSEV / AFP)

China Announces 1-year Suspension of Expanded Rare Earth Export Controls

China suspended an array of export control measures it imposed on October 9, including expanded curbs on some rare earths materials and equipment, as well as…

Asharq Al Awsat
Business People wait in line outside Adams County Emergency Food Bank for their completed grocery cart, weeks into the continuing US government shutdown, in Commerce City, Colorado, US October 31, 2025.  REUTERS/Mark Makela

FAO: World Food Prices Fall for 2nd Consecutive Month in October

World food commodity prices fell for a second consecutive month in October, driven largely by ample global supplies, the United Nations' Food and Agriculture…

Asharq Al Awsat
Business Commuters arrive at the Kabatas ferry terminal next to the Bosphorus strait, in Istanbul, Türkiye, Tuesday, Nov. 4, 2025. (AP)

Turkish Cenbank Stands by Next Year’s 16% Inflation Target 

Türkiye's central bank kept its interim target of 16% for end-2026 inflation on Friday, and Governor Fatih Karahan said it was ready to tighten policy if…

Business A woman wearing a face mask walks on a street in Beijing, China, 06 November 2025. (EPA)

China’s Exports Suffer Worst Downturn Since Feb as Tariffs Hammer US Demand 

Chinese exports unexpectedly fell in October after months of front-loading US orders to beat President Donald Trump's tariffs, in a stark reminder of the…