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 King Abdullah Financial District (KAFD) in Riyadh

Saudi Arabia Rises to 13th Globally in Foreign Direct Investment Rankings

Saudi Arabia has strengthened its position on the global investment map, advancing to 13th place worldwide in attracting foreign direct investment (FDI) last…

Bandar al-Mosalam (Riyadh)
Business File photo of a police officer standing near a Moroccan national flag near the main stadium during preparations for the FIFA Club World Cup in Agadir, December 10, 2013. REUTERS/Amr Abdallah Dalsh

Morocco's Economic Growth Seen Slowing to 3% in 2027

Morocco's economic growth is expected to slow to 3% in 2027 from 4.8% projected for this year, although the fiscal deficit should still narrow, the national…

Asharq Al Awsat
Business FILE - The Mina Al-Ahmadi oil refinery operates in Kuwait, March 20, 2026. (AP Photo, File)

Oil Steadies as Hopes of Renewed US-Iran Negotiations Offset Houthi Threat 

Oil prices were steady on Monday, pulling back from earlier highs. Benchmark prices had earlier touched more than one-month highs on concern over disruption to…

Asharq Al Awsat
Business The logo of AliExpress is pictured at AliExpress store, in Granada, Spain, July 22, 2024. (Reuters)

AliExpress Hit with $629 Million EU Fine Over Sales of Illegal, Counterfeit Products

Alibaba's AliExpress was hit with a record €550 million ($629 million) fine from the European Union on Monday for failing to tackle sales of illegal, unsafe…

Business A Riyadh Air Boeing 787-9 Dreamliner is seen before the opening of the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 13, 2025. (Reuters)

Riyadh Air Orders 34 Boeing, Airbus Widebody Jets in Expansion Push

Saudi Arabia's Riyadh Air placed orders for 34 widebody aircraft with both Boeing and Airbus on Monday, as it accelerates its plans to reach more than 100…

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

Dollar Drifts as US-Iran Conflict Intensifies; Sterling Edges Higher

The dollar was broadly steady on Monday as uncertainty about the outlook for the conflict in the Middle East kept traders cautious, while the pound edged…

Business A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. (Reuters)

Gold Steady as Markets Assess Middle East Escalation, Fed Hike Bets

Gold prices were little changed on Monday as investors assessed an escalation in the Middle East war that pushed oil prices higher, while another US Federal…

Business Football - FIFA World Cup 2026 - Final - Spain v Argentina - New York/New Jersey Stadium, East Rutherford, New Jersey, US - July 19, 2026 Spain's Aymeric Laporte lifts the World Cup trophy as he celebrates winning the World Cup. (Reuters)

Morocco to Boost Hotel Beds by a Fifth Ahead of 2030 World Cup

Morocco plans ‌to expand its hotel capacity by 60,000 beds, equal to about a fifth of its current total, by the time the country co-hosts the 2030 World…

Business Shipping containers are seen ready for transport at the Guangzhou Port in the Nansha district in southern China's Guangdong province, April 17, 2025. (AP)

China’s June Refined Oil Product Exports Improve from May Amid Export Curbs

China's June refined oil product exports improved from May, but still tumbled from the same period last year, amid export restrictions that started in mid…

Business A Microsoft data center. (Microsoft)

Head of International Data Center Authority to Asharq Al-Awsat: Saudi Arabia Leads AI Race

Saudi Arabia is leading the Middle East in attracting artificial intelligence (AI) data center investment, thanks to its abundant energy resources, economic…

Sabri Najeh (Cairo)
Business Saudi and Canadian officials attend the recent Saudi-Canadian Investment Forum in Jeddah. (Asharq Al-Awsat)

Critical Minerals Drive Billion-Dollar Saudi-Canadian Partnership

Economic ties between Saudi Arabia and Canada are entering a new phase. After a year of intensified diplomatic and investment engagement, Prince Mohammed bin…

Saeed al-Abyad (Jeddah)
Business The British Red Arrows display team fly at the Farnborough International Airshow, in Farnborough, Britain, July 22, 2024. (Reuters)

Conflicts, Aircraft Orders in Focus as Farnborough Airshow Kicks Off

The Farnborough Airshow opens on Monday with Boeing and Airbus pursuing aircraft deals and defense firms vying for a share of booming military budgets fueled…

Business Presidents and government representatives attend the 69th Economic Community of West African States (ECOWAS) Summit in Freetown, Sierra Leone, July 19, 2026. (Reuters)

West African Leaders Approve Nigeria-Morocco Gas Pipeline

West African leaders on Sunday signed an agreement approving the construction of a gas pipeline linking Nigeria to Morocco at a summit of regional bloc ECOWAS…

Business  Vessels at the Strait of Hormuz, as seen from Musandam,Oman, July 15, 2026. (Reuters)

Brent Oil Tops $90 as US, Iran Intensify Attacks in Middle East

Oil prices jumped 3% on Monday, with Brent surpassing $90 a barrel, as the United States and Iran expanded attacks in the Middle East that have curbed energy…

Business A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)

Saudi Arabia Announces Entry into Classification Phase, Real Estate Advertising Is Conditional on FAL License

The Saudi government announced during the Real Estate Brokerage Forum, which concluded its activities Sunday in Riyadh, the entry into the real estate…

Asharq Al Awsat (Riyadh)
Business The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)

Egypt Says Petrojet-ENPPI Chosen for Oman Project Portfolio Exceeding $6 Billion

Egypt's petroleum ministry said on Sunday that a consortium of Petrojet and ENPPI had been selected for a six-year engineering, procurement and construction…

Business The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)

Caspian Pipeline Consortium Oil Loadings Suspended After Drone Attacks on Tankers, CPC Says

Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are…

Business Workers work at the British Steel site in Scunthorpe, Lincolnshire, Britain April 17, 2025. (Reuters)

Chinese Company Demands Compensation from the UK Over British Steel Nationalization

The Chinese company that formerly owned British Steel demanded Sunday compensation from the UK government for investment losses following the nationalization…

Business The NEOM Green Hydrogen Project (NEOM) 

ACWA Power to Lead Saudi Arabia’s Green Hydrogen Export Drive

Saudi Arabia is opening a new chapter in its energy export strategy by entrusting ACWA Power with exporting green hydrogen and its derivatives, while also…

Abeer Hommadi (Riyadh)
Business Mawani Signs Seven Deals Worth SAR1 Billion to Expand Port Logistics Centers in Jeddah

Mawani Signs Seven Deals Worth SAR1 Billion to Expand Port Logistics Centers in Jeddah

Under the patronage of Minister of Transport and Logistic Services Saleh Al-Jasser, the Saudi Ports Authority (Mawani) signed seven contracts worth nearly SAR1…

Asharq Al Awsat
Business Light reflects off the water as the sun sets through wildfire smoke over Edmonton, Alberta, Friday, July 17, 2026. (AP Photo/Andy Bao)

Trump Threatens to Increase Canada Tariffs over Wildfire Smoke Pollution

US President Donald Trump threatened on Friday a tariff increase on Canada to cover the cost of smoke pollution from wildfires that have choked large parts of…

Asharq Al Awsat (Washington)
Business Al Akaria participates in the Cityscape Global exhibition (Company handout)

Al Akaria Riyadh Land Cleared, Returning Strategic Asset to Development

Lifting regulatory restrictions on real estate assets marks an important stage in the investment cycle, allowing owners to regain flexibility in managing and…

Mohammed al-Mutairi (Riyadh)
Business Drills operate in an oil field in California (Reuters)

Oil Rises on Renewed US-Iran Hostilities and Threat of Red Sea Closure

Oil prices rose by more than 2% on Friday after the US and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on…

Asharq Al Awsat
Business 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. (dpa)

Gold Heads for Biggest Weekly Loss in Six as Middle East War Fans Inflation Worries

Gold was on track for its biggest weekly loss in six on Friday, as escalating US-Iran clashes lifted oil prices, adding to inflationary pressures and…