Business

US Economy Expanded at Solid 2.1% Pace in January-March, Government Says

Business President Donald Trump stands on stage after speaking at the opening of the Great American State Fair on the National Mall, Wednesday, June 24, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

US Economy Expanded at Solid 2.1% Pace in January-March, Government Says

The US economy expanded at a solid and unexpected 2.1% annual pace from January through March, the Commerce Department reported Thursday in its final estimate…

Asharq Al Awsat (Washington)
Business A handout picture released by Iraq's Prime Minister's Press Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraq's Prime Minister's Press Office / AFP)

Baghdad Urges OPEC to Raise Iraq's Production Quota

Baghdad has urged OPEC to increase Iraq's oil production quota, taking into account the damage done to its industry by its history of conflicts and the recent…

Asharq Al Awsat
Business General view of part of Cairo (Reuters)

Egypt Overhauls Nitrogen Fertilizer Export Levy, Exempts High-grade Ammonium Nitrate

Egypt has revamped its export tax regime for nitrogen fertilizers, replacing a fixed export tax with a 10% ad valorem duty on all nitrogenous fertilizer…

Asharq Al Awsat
Business A worker displays gold bullion bar at the ABC Refinery in Sydney - AFP

Gold Lingers Near 7-month Low as Fed Hike Bets Boost Dollar

Gold fell for a third straight session on Thursday, lingering near a more than seven-month low it had reached in the previous session, as expectations of US…

Business A drilling rig operates near a crude oil reserve in the Permian Basin oil field in Texas, USA (Reuters)

Oil Falls to Pre-war Levels on Rising Middle East Supply

Oil prices fell on Thursday to levels last seen before the start of the Iran war as expectations of rising supply from the Middle East outweighed demand…

Asharq Al Awsat

Business A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, June 1, 2026. (AP Photo/Ahn Young-joon)

Asian Equities ahead, Oil Rises as Uncertainty Surrounds US-Iran Talks

Oil rose while Asian equities firmed Monday as a surge in artificial intelligence-linked stocks helped offset uncertainty over US-Iran talks. Gains in tech…

Asharq Al Awsat
Business Photo showing one of Mutlaq Al-Ghowairi Contracting Co.'s projects. (Company website)

Saudi Arabia's Mutlaq Al-Ghowairi Contracting Sets IPO Price Range at $2.9-$3.3 per Share

Saudi Arabia's Mutlaq Al-Ghowairi Contracting Co. has set the price range for its initial public offering (IPO) at between 11 riyals ($2.9) and 12.5 riyals ($3…

Asharq Al Awsat
Business A man monitors stock movements on the Saudi stock market. (AFP)

Saudi Market Closes Up 0.5%, Kingdom Holding Shares Jump 10%

Saudi Arabia's benchmark stock index (TASI) ended its first trading session following the Eid al-Adha holiday up 0.5 percent at 11,078 points, with total…

Asharq Al Awsat
Business  NHC Chief Executive Mohammed Albuty speaks during a panel discussion (company website)

Saudi National Housing Company... From an 'Executive Arm' to the Largest Real Estate Developer in the Region

Saudi Arabia’s National Housing Company (NHC) has emerged as a central force in reshaping the Kingdom’s housing market, evolving from a state-backed developer…

Asharq Al Awsat (Riyadh)
Business People enter the Central Bank of Sri Lanka headquarters in Colombo, Sri Lanka, May 26, 2026. REUTERS/Akila Jayawardena

Sri Lanka Raise Fuel Prices after IMF Loan Instalment

Sri Lanka raised fuel prices by up to six percent on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilize the economy. …

Asharq Al Awsat
Business  Worker use a forklift to transfer goods at the Xiaomi logistic center, in Beijing, China on Friday, May 29, 2026. (AP)

European Commission Vows Tougher Action on Trade with China

The EU's trade and investment relationship with China is "not sustainable", the European Commission said on Friday, vowing a stronger response as commissioners…

Business Egypt has an extensive network of seaports along both the Red Sea and the Mediterranean. (Egyptian Ministry of Transport)

Regional Turmoil Drives Growth at Egyptian Ports While Cutting Suez Canal Revenues

The Suez Canal may have incurred heavy losses due to regional tensions and instability in recent years — from the war in Gaza to the conflict involving Iran —…

Asharq Al Awsat (Cairo)
Business Mexican Economy Minister, Marcelo Ebrard, gestures as he speaks during a press conference in Mexico City on May 27, 2026. (AFP)

US, Mexico Finish First Round of Trade Agreement Talks

The United States and Mexico completed a first round of bilateral trade talks Friday, focused on revising the North American Free Trade Agreement in light of…

Business German Finance Minister Lars Klingbeil (L), Dutch Finance Minister Eelco Heinen (R) and Spanish Economy Minister Carlos Cuerpo attend a meeting with finance ministers from Germany, Italy, Spain, Poland, France and the Netherlands at the Deutsche Bundesbank recreation center in Berlin, Germany, 28 May 2026. (EPA)

EU's Six Biggest Economies Agree on Capital Markets Supervision

Finance ministers from the EU's six biggest economies (E6) agreed among themselves on Friday to support more centralized capital markets supervision, in a…

Business Women walk through the lobby of Elm Co. in the Saudi capital Riyadh. (Public Investment Fund)

Saudi Fintech, Cloud Services Drive Technology Sector Profit Boom

Saudi Arabia’s listed technology companies posted strong first-quarter earnings for 2026, reflecting a structural shift in the sector as digital revenue growth…

Mohammed al-Mutairi (Riyadh)
Business Gold bars displayed inside Comptoir National de l'Or store in Paris (Reuters)

Gold on Track for Third Straight Monthly Loss; Traders Assess US-Iran Ceasefire Reports

Gold was headed for a third straight monthly loss as the US-Israeli war on Iran kept concerns around inflation and US rate hikes elevated. Spot gold rose 0.5…

Asharq Al Awsat
Business Sierra Leone-flagged crude oil tanker Altura transits the Bosphorus in Istanbul, Türkiye, March 16, 2026. (Reuters)

Oil Falls Over 1% on Reports of Potential US-Iran Ceasefire Deal

Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the US and Iran had…

Business The US-Iran deal to extend the ceasefire is pending approval by President Donald Trump. WIN MCNAMEE / GETTY IMAGES NORTH AMERICA/AFP

Asia Stocks Surge, Oil Falls on Hopes of US-Iran Truce Deal

Asian stock markets surged and oil prices receded on Friday, boosted by optimism that the United States and Iran will reach a deal to end their war that has…

Asharq Al Awsat
Business  An empty fuel station, as India faces rising oil prices following the closure of the Strait of Hormuz amid the US-Israeli conflict with Iran, in Halvad, Gujarat, India, May 22, 2026. (Reuters)

Middle East War Reshaping National Energy Strategies, Says IEA

The Middle East war is pushing countries to open new supply routes and turn to domestic resources to tide over the world's biggest energy crisis, the…

Business The Euro currency symbol is seen prior to a press conference after an ECB's governing council meeting in Frankfurt, Germany, Dec. 18, 2025. (AP)

ECB Chief Economist Sees Persistent Impact on Inflation from Iran War

The energy shock caused by the Middle East conflict will likely have a persistent impact on inflation even if there is a quick solution to the war, the…

Business US dollar banknotes are seen in this illustration taken March 24, 2026. (Reuters)

Dollar Firms to One-Week High as Gulf Tensions Flare, Yen Nears Intervention Zone

The dollar firmed to a one-week high on Thursday after Middle East tensions ratcheted up following fresh US strikes on Iran, while the yen softened toward a…

Business The Nord Maverick, an oil and chemical tanker sailing under the flag of Denmark, is docked at the Texas City docks next to the Marathon Galveston Bay Refinery shortly after US President Donald Trump announced a 60-day waiver of the Jones Act shipping law in Texas City, Texas, U.S. March 18, 2026. (Reuters)

Oil Surges After Iran Targets US Airbase in Retaliation

Oil prices jumped more than 3% on Thursday after Iran's Revolutionary Guards said they targeted a US airbase in response to a US attack near Bandar Abbas…

Business Gold bracelets and necklaces are displayed at a shop in Istanbul's Grand Bazaar (AFP file)

Gold Hits Two-Month Low as US-Iran Tension Stokes Inflation Fears

Gold prices fell to a two-month low on Thursday as fresh US attacks on Iran boosted the dollar and pushed oil prices higher, stoking concerns about rising…

Business Canadian Prime Minister Mark Carney arrives to Parliament Hill in Ottawa on Tuesday, May 26, 2026. (Sean Kilpatrick/The Canadian Press via AP)

Canada and Germany Sign Landmark LNG Deal to Boost Europe’s Energy Security

Canada and Germany’s state-owned energy firm SEFE said on Wednesday they had reached what Canada described as its first LNG supply ‌deal with a European…

Asharq Al Awsat (Toronto)
Business FILE PHOTO: Vehicles drive past a BP (British Petroleum) petrol station in Liverpool, Britain, February 7, 2023. REUTERS/Phil Noble/File Photo

BP's Ousted Chairman: 'I Won't Let a False Narrative Go Undisputed'

Albert Manifold on Wednesday hit out after being sacked as chairman of British energy giant BP, saying that he would "not allow a false narrative to go…

Asharq Al Awsat (London)
Business Crude oil tanker near the port city of Nakhodka, Russia (Reuters)

Türkiye Curbs Russian Urals Imports as Prices Rise

Türkiye is set to cut imports of Russia's Urals crude from Baltic and Black Sea ports this month to the lowest level in almost one and a half years, according…

Asharq Al Awsat
Business An aerial view showing the urban boom and major hospitality projects surrounding the Grand Mosque in Makkah (SPA).

Saudi Real Estate Legislation Places Makkah and Madinah at the Center of Global Investment Ambitions

Saudi Arabia’s legislative and regulatory environment has become the primary driver reshaping the investment landscape in Makkah and Madinah, pushing the real…

Mohammed al-Mutairi (Riyadh)
Business European Central Bank Vice-President Luis de Guindos, left, speaks with European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis during a meeting of EU finance ministers at the European Council building in Brussels, Tuesday, May 5, 2026. (AP Photo/Geert Vanden Wijngaert)

ECB Tells Banks to Invest More to Get a Grip on AI Security Risk

Euro zone banks need to invest more in cybersecurity if they are to get a grip on new AI models that can find flaws in software, the European Central Bank's…

Asharq Al Awsat
Business People walk outside Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir

Alvarez & Marsal Returns to Lebanon’s Central Bank to Trace Missing $20 Billion

Lebanon’s central bank (BDL) has formally reappointed consulting firm Alvarez & Marsal to conduct a comprehensive forensic audit on the period from October…

Ali Zeineddine (Beirut)