Thailand Explores Cooperation with Saudi Arabia in Renewable Energy, Green Hydrogen

Business The Saudi Minister of Investment and Thailand’s Foreign Minister honor representatives of the private sector in both countries at the investment forum in Riyadh. Asharq Al-Awsat

Thailand Explores Cooperation with Saudi Arabia in Renewable Energy, Green Hydrogen

Thai Foreign Minister Maris Sangiampongsa said that relations between Thailand and Saudi Arabia go beyond bilateral cooperation to regional and international…

Fatehelrahman Yousif (Riyadh)
Business Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. (Reuters)

Saudia Becomes Global Leader and Ranks First Worldwide in On-Time Performance

Saudia, the national flag carrier of the Kingdom of Saudi Arabia, has topped the list of global airlines for on-time performance, according to a report by the…

Business GAMI participated in various international meetings and partnerships aimed at enhancing cooperation in the military and defense field and exchanging expertise. (SPA)

Saudi Arabia’s GAMI Concludes Participation in Farnborough Int’l Airshow 2024

Saudi Arabia’s General Authority for Military Industries (GAMI) concluded its participation in Farnborough International Airshow, held recently in London, UK,…

Business  A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)

Fire, Smoke Upend Western Canada’s Summer Tourism Season

Severe wildfire seasons are increasingly hurting western Canada's lucrative tourism industry, with some visitors beginning to avoid the busy late-summer months…

Business A man monitors the movement of stocks on the Saudi Tadawul index. (AFP)

Revenue Growth, Improved Operational Efficiency Boost Profitability of Saudi Telecom Companies

Telecommunications companies listed on the Saudi Stock Exchange (Tadawul) achieved a 12.46 percent growth in their net profits, which reached SAR 4.07 billion …

Mohammed al-Mutairi (Riyadh)

Business There was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024 (File Photo AAWSAT)

Saudi Non-oil Exports Surge 12.4% to SR101.7 Billion in April

Saudi Arabia’s non-oil exports, including re-exports, recorded a jump of 12.4 percent, reaching SR101.7 billion in April 2024, compared to the same period in…

Asharq Al Awsat
Business Pipes at the landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke

Gaps in EU's Preparation for Potential Gas Crises

The European Union is insufficiently prepared to weather a future gas crisis despite introducing a raft of measures to end its dependence on Russian energy,…

Asharq Al Awsat
Business Participants in the Great Futures Initiative conference which was recently held in Riyadh (Asharq Al-Awsat)

Saudi, British Companies Seek to Explore Sustainable Partnerships

Several major national companies are participating in the UK-Saudi Sustainable Infrastructure Summit in London on June 24-26. According to information made…

Bandar al-Mosalam (Riyadh)
Business A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier

Oil Edges Higher as Demand Expectations Offset Dollar Strength

Oil prices firmed slightly on Monday as traders weighed support from expected summer demand and geopolitical tensions against a stronger dollar. Brent crude…

Asharq Al Awsat
Business The moon is seen after the day of Strawberry Moon over old houses in Cairo, Egypt, June 22, 2024. REUTERS/Amr Abdallah Dalsh

World Bank Announces $700 Mln in Financing for Egypt

The World Bank announced on Monday $700 million of budget support for Egypt, part of a 3-year, $6 billion program that the bank pledged earlier this year. …

Asharq Al Awsat (Washington)
Business Treasure Secretary Janet Yellen addresses the Economic Club of New York luncheon, Thursday, June 13, 2024, in New York (AP)

Biden Administration Proposes Rules to Curb Investments in China's AI, Tech Sector

The United States Treasury Department has fleshed out a proposed rule that would restrict and monitor US investments in China for artificial intelligence,…

Asharq Al Awsat (Washington)
Business A worker sets up decoration formed with umbrellas for an outdoor market along the Wangfujing mall street in Beijing, Wednesday, June 19, 2024. (AP)

China Says It Reserves Right to Take Measures Against US Planned Investment Curbs 

China is gravely concerned and firmly opposed to US proposed rules for curbing certain investments in China, and reserves the right to take corresponding…

Business German vice-chancellor and Economy Minister Robert Habeck during his visit to carmaker BMW's research and development center in Shanghai, China, on June 23. (Reuters) 

Germany Urges China to Find Alternative to Coal

German Economy Minister Robert Habeck said on Sunday that two Chinese officials he met in Beijing told him that China was expanding coal production for…

Asharq Al Awsat (Berlin)
Business Jeddah Islamic Port. Photo: Saudi Ports Authority website

Mawani, Reviva Sign Deal for Waste Recycling Complex in Jeddah

The Saudi Ports Authority (Mawani) and Global Environmental Management Services Ltd. (Reviva), a subsidiary of Saudi Investment Recycling Company (SIRC) Group,…

Asharq Al Awsat (Jeddah)
Business A Tesla sign is seen on the Shanghai Gigafactory of the US electric car maker before a delivery ceremony in Shanghai, China January 7, 2020. Reuters

Foreign Direct Investment in China Drops 28% in Five Months

Foreign direct investment (FDI) in China dropped 28.2% to reach 412.5 billion yuan (approximately $57.94 billion) during the first five months of 2024 from the…

Asharq Al Awsat (Beijing)
Business FDP Finance Minister Christian Lindner (L), Greens Economy Minister Robert Habeck (C) and Chancellor Olaf Scholz (R) of the SPD are locked in a budget dispute - AFP

Germany's Coalition in Impasse Over 2025 Budget

The three parties in the German government are locked in a bitter dispute over the 2025 budget, with experts warning the stalemate could be the final straw for…

Asharq Al Awsat
Business The increase in the deficit has long alarmed fiscal hawks - (File/AFP)

US Borrowing Binge Risks Market Strains

The US will be forced to fund a massive increase in its budget deficit with short-term debt, analysts have said, with consequences for money markets and the…

Asharq Al Awsat
Business German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights

German Economy Minister Says EU Open for Talks on China Tariffs

Germany's Economy Minister Robert Habeck said during his visit to China on Saturday that the European Union's door is open for discussions regarding EU tariffs…

Asharq Al Awsat
Business  People visit Ameya-Yokocho shopping street in the Ueno area of Tokyo on June 19, 2024. (AFP)

Japan's Demand-Led Inflation Slows, Clouds BOJ Rate Hike Path

Japan's core inflation accelerated in May due to energy levies but an index that strips away the effect of fuel slowed for the ninth straight month, data…

Business Public sector net debt, excluding state-controlled banks, reached 2.742 trillion pounds ($3.47 trillion) or 99.8% of annual gross domestic product in May. (Reuters)

UK Public Debt Rises to Highest Since 1961 Ahead of Election

British public debt rose last month to its highest as a share of the economy since 1961, data showed on Friday, adding to the financial challenges the next…

Business A worker assembles parts of a Tundra Truck at Toyota's truck plant in San Antonio, Texas, US, April 17, 2023. (Reuters)

US Business Activity Inches up in June; Price Pressures Abating

US business activity crept up to a 26-month high in June amid a rebound in employment, but price pressures subsided considerably, offering hope that a recent…

Business Flags of European Union and China are pictured during the China-EU summit at the Great Hall of the People in Beijing, China, July 12, 2016. (Reuters)

EU Tariffs on China Not a ‘Punishment’, Says German Economy Minister

Proposed European Union tariffs on Chinese goods are not a "punishment", Germany's Economy Minister Robert Habeck told Chinese officials in Beijing on Saturday…

Business General view of capital Manama, Bahrain, October 30, 2022. (Reuters)

Bahrain Draws Record FDI Inflow in 2023

Bahrain saw a surge in foreign direct investment (FDI) to a record $6.8 billion in 2023, up 148% from the previous year's figures, according to the latest…

Business A self-driving electric vehicle by Holon. (Holon)

European Commission Greenlights Saudi Investment in German Electric Vehicle Firm

The European Commission announced its approval of the acquisition and joint control of the German autonomous electric vehicle company Holon by Saudi Arabia’s…

Asharq Al Awsat (Frankfurt)
Business A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia Shares Rise on News of AI Factory for Elon Musk

Nvidia shares gained 3% before the bell on Thursday, set to extend the semiconductor bellwether’s lead as the world’s most valuable company, after partners…

Asharq Al Awsat
Business A woman walks next to the logo for Carlyle at the company’s offices in New York City, US, June 28, 2022. Picture taken June 28, 2022. REUTERS/Brendan McDermid/ File Photo Purchase Licensing Rights

Carlyle Creates New Med Oil, Gas Company with $945 mln Energean Deal

Carlyle (CG.O), will form a new Mediterranean-focused oil and gas company led by former BP (BP.L), CEO Tony Hayward after the private equity fund agreed to…

Asharq Al Awsat
Business A businessman walks in Tokyo's business district, Japan·Reuters

Most Japan Firms See No Need to Follow the US with Tariffs on China

Most Japanese companies see no need for their government to follow the US in raising tariffs on Chinese imports, saying excessive production capacity in China…

Asharq Al Awsat
Business The European Union flag inside the atrium during an EU summit at the European Council building in Brussels, Monday, June 17, 2024. (AP Photo/Omar Havana)

EU States Agree on 14th Sanctions Package Against Russia

European Union countries agreed on a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on Thursday, including a ban on re…

Asharq Al Awsat
Business Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold Hits Two-week High on Fed Rate Cut Bets

Gold prices touched a two-week high on Thursday, as softer US economic data increased the likelihood of interest rate cuts from the Federal Reserve this year…

Asharq Al Awsat