Business

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 FILE PHOTO: A “Help Wanted” sign hangs in restaurant window in Medford, Massachusetts, US, January 25, 2023. REUTERS/Brian Snyder/File Photo

Chicago Fed: US Unemployment Rate Rounds Up to 4.4% in October

The US jobless rate likely edged up in October to the highest in four years as the hiring rate for unemployed workers slowed and the rate of layoffs and other…

Asharq Al Awsat (Chicago)
Business A project by the Ministry of Municipal and Housing Affairs in Riyadh (SPA)

Riyadh Introduces New Mechanism to Correct Property Lease Violations

The General Real Estate Authority has posted a draft framework on the government’s “Istitlaa” platform to regulate the correction of violations related to…

Bandar al-Mosalam (Riyadh)
Business Wesam Alghamdi, the chief executive officer at NEOM Green Hydrogen Company  - Ashar Al-Awsat

NEOM to Begin First Commercial Green Hydrogen Output in 2027

Saudi Arabia’s NEOM, the Public Investment Fund’s flagship development, is accelerating work as the Oxagon industrial city and the NEOM Green Hydrogen project…

Ayat Nour (Riyadh)
Business The Abu Dhabi-based firm inked the deal with French shipping giant CMA CGM for a 20 percentage stake in the Latakia International Container Terminal. WAM

UAE’s AD Ports Group Inks $22 Mn Deal for Stake in Latakia Container Terminal

AD Ports Group of the United Arab Emirates (UAE) signed a $22 million agreement Thursday for a stake in the container terminal at Syria's port in Latakia. …

Asharq Al Awsat (Abu Dhabi)
Business A worker walks at the Majnoon oil field, near Basra, Iraq March 27, 2022. REUTERS/Essam Al-Sudani

Iraq's SOMO Offers More than 6 Million Tons of Fuel Oil for First Half of 2026

Iraq's state-owned oil company SOMO has offered more than 6 million metric tons of high-sulphur fuel oil (HSFO) between January and June 2026 in three tenders…

Asharq Al Awsat
Business Women sit by the coast of the Mediterranean Sea during sunset, in Alexandria, Egypt October 8, 2023. REUTERS/Mohamed Abd El Ghany

Egypt, Qatar to Develop Real Estate Project on Mediterranean Coast

Egypt and Qatar signed a partnership deal on Thursday to develop a luxury real estate and tourism project on Egypt's Mediterranean coast, part of Doha's $7.5…

Asharq Al Awsat
Business A combine harvests wheat on a field that belongs to farmer Hasan Chetoui in Manouba, Tunisia May 24, 2023. REUTERS/Jihed Abidellaoui

Tunisia Tenders for about 75,000 Tons Feed Barley

Tunisia's state grains agency has issued an international tender to purchase an estimated 75,000 metric tons of animal feed barley, European traders said on…

Asharq Al Awsat
Business FILE PHOTO: A raw gold bar is displayed at Nigeria’s booth at the 8th China International Import Expo (CIIE) venue in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov/File Photo

Gold Reclaims $4,000/oz Level as Dollar Slips, US Shutdown Woes Persist

Gold rose above the key $4,000 per ounce level on Thursday, supported by a retreat in the dollar, while a prolonged US government shutdown raised worries over…

Asharq Al Awsat
Business Secretary-General of the GCC Jasem Albudaiwi. SPA

GCC, EU Discuss Boosting Economic Ties

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi has met with EU Commissioner for Trade and Economic Security and Interinstitutional…

Asharq Al Awsat
Business A billboard advertising the national flag carrier of the United Arab Emirates, Emirates Airways, hangs from a building near Dubai International Airport, in Dubai on November 6, 2025. (Photo by Giuseppe CACACE / AFP)

Emirates Half-year Profit Up 13% to $2.9 Bn

Dubai's Emirates Group announced on Thursday half-year profits of 10.6 billion dirhams ($2.9 billion) on Wednesday, up 13 percent from last year. Despite…

Asharq Al Awsat
Business  31 October 2025, South Korea, Gyeongju: Indonesian leader at APEC Indonesian President Prabowo Subianto attends the first session of the Asia-Pacific Economic Cooperation summit at the Gyeongju Hwabaek International Convention Center in the southeastern South Korean city of Gyeongju. Photo: ---/yonhap/dpa

Indonesia President Inaugurates $4 Billion Petrochemical Plant by Lotte Chemical

Indonesian president Prabowo Subianto on Thursday inaugurated a $4 billion petrochemical production facility built by South Korea's Lotte Chemical , which will…

Asharq Al Awsat
Business FILE - Nissan signage at Nissan headquarters in Yokohama, near Tokyo, on May 13, 2025. (AP Photo/Louise Delmotte, File)

Money-losing Nissan is Selling its Headquarters Building to Gain Cash

Troubled Japanese automaker Nissan said Thursday it was selling its headquarters building in Yokohama, southwest of Tokyo, for 97 billion yen ($630 million),…

Asharq Al Awsat
Business FILE PHOTO: Containers are stacked on the deck of cargo ship Maersk Monte Alegre under the Verrazzano-Narrows Bridge to enter New York Harbor as seen from Manhattan in New York City, US, April 2, 2025. REUTERS/Jeenah Moon/File Photo

Maersk Lifts Full-year Profit Guidance Range, Posts Q3 Profit Above Forecast

Shipping group A.P. Moller-Maersk on Thursday reported third-quarter operating profit above expectations and raised the lower end of its full-year profit…

Asharq Al Awsat
Business Faisal Al-Khamisi announcing the Beem platform at the Digital Government Forum (Asharq Al-Awsat)

Saudi Arabia Saves $2.4 Bn from 2,500 Gov’t Reform Projects

Saudi Arabia unveiled significant advances in its digital transformation during the fourth edition of the Digital Government Forum 2025 in Riyadh, a high…

Abir Hamdi (Riyadh) Asharq Al Awsat
Business  An LG employee showcases the company’s latest products (Asharq Al-Awsat)

Saudi Electronics Market Growth Attracts Global Tech Firms

Saudi Arabia’s economy is gaining strong momentum as major projects and diversification programs accelerate, making it one of the most attractive markets for…

Asharq Al Awsat (Seoul)
Business General view of the Libyan state National Oil Corporation (NOC) in Tripoli, Libya July 14, 2022. REUTERS/Hazem Ahmed/File Photo

Libya's NOC Chief Says 40 Companies Showed Interest in Current Bid Round

The head of Libya's National Oil Corporation said on Wednesday that around 40 companies had shown interest in participating in the North African country's…

Asharq Al Awsat
Business Saudi Pavilion at the Berlin Tourism Fair (Asharq Al-Awsat)

Saudi Arabia, Germany Eye Broader Cooperation in Energy, Infrastructure

Bilateral relations between Saudi Arabia and Germany are witnessing a growing positive development, strengthened by recurring high-level talks and visits, with…

Fatehelrahman Yousif (Riyadh)
Business Chinese Premier Li Qiang delivers a speech during the opening ceremony of the 7th China International Import Expo (CIIE) in Shanghai, China, 05 November 2025. (EPA)

Chinese Economy to Exceed $23.8 Trillion by 2030, Premier Says 

Premier Li Qiang said on Wednesday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the…

Business A view of construction work at King Abdullah Financial District in Riyadh. (SPA)

Saudi Non-Oil Sector Records Exceptional Growth as Business Conditions Improve  

Saudi Arabia’s non-oil private sector is undergoing a significant transformation, achieving one of its strongest growth rates since 2014. This momentum…

Bandar al-Mosalam (Riyadh)
Business People visit the Saudi Arabian Oil Company (Aramco) stand during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates, 03 November 2025. (EPA)

Saudi Aramco Profits Beat Expectations as Gas Expansion Accelerates

Saudi Aramco reported stronger-than-expected results for the third quarter of 2025, posting adjusted net income of SAR 104.9 billion ($28 billion), supported…

Abir Hamdi (Riyadh)
Business This picture shows grains including Chinese local product of premium soybeans (2nd-R) from Jiangsu province, at a supermarket in Beijing on November 5, 2025. (AFP)

Beijing Lifts Some Tariffs on US Farm Goods but Soybeans Remain Costly 

China will suspend retaliatory tariffs on US imports following last week's meeting of their two leaders, including lifting duties on farm goods, Beijing…

Business The Saudi and US delegations meet in Riyadh on Tuesday. (SPA)

Saudi Industry Minister Explores Boosting Cooperation with US on Critical Minerals 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a bilateral meeting with US Secretary of the Interior and National Energy Dominance…

Business The sun sets over the under-construction Central Bank of Iraq building (L) and the 14th of July Bridge along the banks of the Tigris River in central Baghdad on October 27, 2025. (AFP)

Iraq Approves Winter Farming Plan with Focus on Groundwater and Modern Irrigation 

Iraq's cabinet has approved the 2025–2026 winter agricultural plan, which includes planting one million dunams (100,000 hectares) using surface (river) water,…

Business This photograph shows a Lukoil logo at a filling station in Gent on October 28, 2025. (AFP)

Iraq Cancels Lukoil Oil Cargoes Loading Amid Sanctions 

Iraq has cancelled the loading of three crude oil cargoes from Lukoil in November, two market sources told Reuters on Tuesday citing concerns over US and UK…

Asharq Al Awsat (Baghdad)