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 A US Dollar note is seen in this June 22, 2017 illustration photo. (Reuters)

Dollar Gets Yields Boost as Middle East and Trade Wars Raise Inflation Stakes

The dollar was underpinned by higher US Treasury yields on Friday and hovered near a 40-year peak against the yen, as a spike in oil prices and a renewed…

Business 21 July 2026, Taiwan, Taichung: A hand holds a smartphone displaying the term 50 percent tariffs backdropped by cropped flags of the United States and Canada. Photo: Andre M. Chang/ZUMA Press Wire/dpa

US Imposes New Tariffs on 60 Partners as Trump Rebuilds Trade Agenda

A new wave of US tariffs targeting 60 trading partners took effect Friday, replacing an expiring global duty rolled out by President Donald Trump earlier this…

Asharq Al Awsat
Business Prince Abdulaziz bin Salman and Chris Wright at KAPSARC (Saudi Energy Ministry)

Saudi-US Nuclear Cooperation Anchors Kingdom’s Economic, Industrial Transformation

Saudi-US relations have entered a new phase of strategic cooperation with the signing of a peaceful nuclear energy agreement, known as a 123 Agreement, and a…

Hala Saghbini (Riyadh)
Business 24 June 2026, Brazil, Sao Paulo: Aircraft move along the tarmac at Terminal 3 of Guarulhos International Airport (GRU) amid cloudy and rainy weather. Photo: Leco Viana/TheNEWS2 via ZUMA Press Wire/dpa

IATA Taps World Economic Forum Managing Director as New Chief

The International Air Transport Association (IATA) has tapped World Economic Forum managing director Saadia Zahidi as its new director general after current…

Asharq Al Awsat
Business FILED - 21 January 2022, Berlin: FILE PHOTO - The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. Photo: Fabian Sommer/dpa

TotalEnergies Discussing Exit from Russian LNG Project

French energy giant TotalEnergies said Thursday it could soon transfer its 10 percent stake in the Arctic 2 liquefied natural gas project, which has been hit…

Asharq Al Awsat (Paris)
Business A vendor sells corn on the bank of the Bosphorus Strait at dusk in Istanbul, Turkey, Friday, June 26, 2026. (AP Photo/Emrah Gurel)

Türkiye Central Bank Keeps Key Interest Rate at 37%

Türkiye 's central bank left its key interest rate at 37% on Thursday, as expected, keeping borrowing costs unchanged for a fourth consecutive meeting as it…

Asharq Al Awsat
Business European Central Bank President Christine Lagarde presents shortlisted designs for future euro banknotes at the ECB headquarters in Frankfurt, Germany, July 23, 2026. REUTERS/Heiko Becker

Lagarde Says She Will Stay on ECB Ship Amid Early Exit Talk

Central Bank President Christine Lagarde insisted on Thursday that she would still be in her role next year, saying "the captain stays on the ship" while there…

Asharq Al Awsat
Business Prince Abdulaziz bin Salman meets with Energy Secretary Chris Wright during the latter's visit to the Kingdom last year (X).

Experts Tell Asharq Al-Awsat: Nuclear Agreement Strengthens Saudi Arabia's Reliability in Global Markets

Economic experts and specialists told Asharq Al-Awsat that the peaceful nuclear agreement between Saudi Arabia and the United States marks a new and…

Fatehelrahman Yousif (Riyadh)
Business A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. (Reuters)

Gold Slips from Two-week Peak as Oil Advances; Fed Meeting in Focus

Gold ticked lower on Thursday, slipping from two-week highs hit in the previous session, as an escalating Middle East conflict drove oil prices higher, while…

Asharq Al Awsat
Business FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, July 17, 2026. REUTERS/Stringer/File Photo

Oil Prices Rise for a Fifth Day on Supply Concerns amid Chokepoint Threats

Oil prices rose for a fifth day on Thursday on increasing concerns about supply availability amid attacks on tankers in the Red Sea by Yemen's Houthis and…

Asharq Al Awsat
Business The yen is sitting at a four-decade low against the dollar owing to the wide interest rate differentials between the US Federal Reserve and Bank of Japan. Richard A. Brooks / AFP

Tech Bounce Lifts Asia Stocks, Oil Extends Gains on US-Iran Fears

Tech firms enjoyed a much-needed bounce on Thursday as they helped most Asian stock markets higher amid renewed hopes for the AI boom, though oil prices…

Asharq Al Awsat
Business One of the agreements allows the state-owned Egyptian Natural Gas Holding Company (EGAS) and Perenco North Sinai Petroleum Inc. to ⁠explore the Al-Fayrouz onshore ‌area of North ‌Sinai. (AFP)

Egypt Approves Oil and Gas Deals Including Perenco North Sinai Project

Egypt's parliament approved four oil and gas exploration and development agreements on Wednesday, including a North Sinai project involving Franco-British…

Business Cargo vessels are seen at one end of the Strait of Hormuz near the coast of Dibba Al Fujairah, United Arab Emirates, 21 July 2026. (EPA)

CMA CGM Will Impose Emergency Surcharge Due to Renewed Hormuz Tensions

CMA CGM will impose an emergency fuel surcharge following the renewed escalation of hostilities in the Strait of Hormuz effective August 1, the French shipping…

Business Ships move through the Suez Canal, in Ismalia, Egypt, July 31, 2025. (Reuters)

Oil Extends Gains to Near Six-Week Highs on New Middle East Supply Risks

Oil prices extended ‌gains to trade near six-week highs on Wednesday as fears of further supply disruptions intensified after US forces struck Iranian…

Business The 33-story development combines Salmani architecture with contemporary design and offers apartments and penthouses in a prime location near major Riyadh landmarks. (Sakani)

Sakani Expands into Riyadh Residential Towers for the First Time

Saudi Arabia’s Sakani housing program is expanding into residential towers in Riyadh for the first time, marking a shift toward diversifying housing options…

Asharq Al Awsat (Riyadh)
Business A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. (Reuters)

Gold Hits Two-Week High as Fed Outlook, Middle East Conflict Stay in Focus

Gold rose to a two-week high on Wednesday on technical buying as investors assessed the widening Middle East conflict and awaited the US Federal Reserve…

Business Riyadh, Saudi Arabia (Reuters)

Saudi Arabia Restructures Debt Maturities to Bolster Fiscal Sustainability, Develop the Sukuk Market

Saudi Arabia is continuing to enhance the management of its public debt by restructuring the maturities of government sukuk, a move that experts say will…

Abeer Hommadi (Riyadh)
Business  Prime Minister Mark Carney makes a statement outside the Office of the Prime Minister and Privy Council in Ottawa, on Tuesday, July 21, 2026. (Justin Tang/The Canadian Press via AP)

Canada Evaluating ‘All Options’ After Fresh US Tariffs Threat

Canadian Prime Minister Mark Carney said Tuesday he was looking at "all options" after US President Donald Trump made plans to impose new 50 percent tariffs on…

Business AFP_Gold bars weighing 1000 grams each are displayed at the Austrian Gold and Silver Refinery _Oegussa_ in Vienna

Gold Rises as Diplomatic Efforts offer hope of de-escalation in Middle East

Gold gained more than 1% on Tuesday as investors weighed reports of fresh mediation efforts in the Middle East, which could weigh on energy prices and tame…

Asharq Al Awsat
Business Aerial view of Financial District in Riyadh (SPA) 

S&P: Islamic Banking in Saudi Arabia Continues to Expand Supported by Vision 2030, Market Reforms

Saudi Arabia's Islamic banking continues to grow, supported by the sector's central role in financing Saudi Arabia's Vision 2030 program and capital market…

Asharq Al Awsat (Riyadh)
Business A worker refuels a vehicle at a gas station in Peshawar, Pakistan, 18 July 2026. (EPA)

Oil Prices Dip as Mediation Efforts Offset US-Iran Strikes

Oil prices softened on Tuesday, with markets weighing reports of mediation efforts between the US and Iran against an exchange of fresh attacks between the two…

Business The General Authority of Civil Aviation (GACA) signed a memorandum of understanding (MoU) with Vertical Aerospace. (SPA)

GACA and Vertical Aerospace Sign MoU on Advanced Air Mobility

The General Authority of Civil Aviation (GACA) signed a memorandum of understanding (MoU) with Vertical Aerospace, one of the world's leading companies in…

Asharq Al Awsat
Business FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/F/File Photo

IMF Approves $690 Mn for Ukraine Following Review

The IMF on Monday said it has green-lit Ukraine's immediate access to about $690 million after a review of its loan program. This would take the…

Asharq Al Awsat (Washington)
Business A sign invites customers to choose Canadian products in a personal hygiene aisle at a Whole Foods store in Vancouver, British Columbia, Canada July 20, 2026. REUTERS/Chris Helgren

US Imposes New 50% Tariffs on $20 Billion Worth of Canadian Products

President Donald Trump unveiled 50% tariffs on a wide range of imports from Canada on Monday in response to what the US administration called its…

Asharq Al Awsat (Washington)