Business

IMF Eyes Revised Global Forecast, but Warns Trade Tensions Still Cloud Outlook

Business A hazy view of the skyline in Toronto, Ontario, Canada, July 14, 2025. REUTERS/Carlos Osorio.

IMF Eyes Revised Global Forecast, but Warns Trade Tensions Still Cloud Outlook

The International Monetary Fund warned on Friday that risks related to trade tensions continue to cloud the global economic outlook and uncertainty remains…

Asharq Al Awsat
Business A person passes by a gold shop in Ankara, Turkey May 29, 2023. REUTERS/Yves Herman/File Photo

Gold Eases on Firmer Dollar, Solid US Data

Gold prices edged lower on Thursday, weighed down by a stronger dollar and robust US economic data, while caution persisted as markets awaited clarity on…

Asharq Al Awsat
Business A view shows oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/File Photo

Oil Edges Higher after EU New Sanctions on Russia

Oil prices edged higher on Friday, heading for a small weekly loss, as investors weighed new European Union sanctions against Russia. Brent crude futures…

Asharq Al Awsat
Business President of the Bundesbank, Dr Joachim Nagel, speaks during an interview at the G20 finance meeting in Durban, South Africa, on July 17, 2025. REUTERS/Rogan Ward

German Central Bank Chief: US Tariffs Would Eat Up German Growth in 2025

The Bundebank expects growth of 0.7% in Germany in 2026 but this could be eaten up if US tariffs of 30% threatened by President Donald Trump were implemented,…

Asharq Al Awsat (Durban)
Business Wang Wentao, China's Minister of Commerce, speaks during a press conference in Beijing on July 18, 2025. (Photo by WANG Zhao / AFP)

China Says Successful US Trade Talks Make Return to Tariff War Unnecessary

China wants to bring its trade ties with the US back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no…

Asharq Al Awsat

Business The Saudi capital, Riyadh (SPA)

Saudi Arabia's Real Estate Sector Sees Positive Growth Driven by Changing Economic Factors

Saudi Arabia's real estate sector is experiencing positive growth driven by significant social and economic changes in the Kingdom, according to a recent…

Asharq Al Awsat (Riyadh)
Business A sample of antimony is displayed at the Natural History Museum in London, Britain, June 6, 2025. REUTERS/Isabel Infantes

China's Spy Agency Attacks Foreign Efforts to 'Steal' Rare Earths

China's Ministry of State Security on Friday said foreign spy agencies had tried to "steal" rare earths and pledged to crack down on infiltration and espionage…

Asharq Al Awsat
Business Saudi and German flags fluttering - File Photo/Asharq Al-Awsat

Berlin Eyes Partnership with Riyadh in Expo 2030, Climate Cooperation, Hydrogen Initiatives

The German Ambassador to Saudi Arabia affirmed his country’s commitment to strengthening cooperation with Saudi Arabia across various fields, noting that…

Fatehelrahman Yousif
Business A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo

Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

Oil prices edged up on Thursday on signs of easing trade tensions, stronger than expected economic data from the world's top oil consumers and renewed risks in…

Asharq Al Awsat
Business Jewellery is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold Falls on Stronger Dollar after Trump Says He Won't Fire Powell

Gold prices eased on Thursday, pressured by a firmer US dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust…

Asharq Al Awsat
Business FILE PHOTO: Boats sail on the River Thames near to The Houses of Parliament, in London, Britain, June 9, 2025. REUTERS/Toby Melville/File Photo

UK Unemployment Rises to Near Four-year High

Britain's unemployment rate has edged upwards to remain near a four-year high, official data showed Thursday with businesses hit by a UK tax hike with US…

Asharq Al Awsat (London)
Business Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs (Asharq Al-Awsat)

Saudi Arabia Doubles its Mining Exploration Investments

Saudi Arabia has seen a dramatic rise in mining exploration activity, with the number of exploration companies growing from just 6 in 2019 to more than 134…

Asharq Al Awsat (Cairo)
Business King Abdulaziz Port in Dammam (MAWANI) 

Saudi Global Ports Expands Operations to Boost Logistics Integration

As part of Saudi Arabia’s efforts to establish itself as a key regional and global logistics hub, Saudi Global Ports (SGP) is investing over SAR 700 million …

Ayat Nour (Riyadh)
Business Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi.

Gulf Countries Committed to Completing GCC Railway Project for Development and Prosperity

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi said on Wednesday that the GCC member states, through their technical committees, are…

Business The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)

Diriyah Company Awards Major Contract for Landmark Arena Project

Saudi Arabia’s Diriyah Company has awarded a contract worth SAR5.75 billion to the branch of China Harbour Engineering Company Ltd. for the construction works…

Business The Saudi capital Riyadh (Asharq Al-Awsat)

Saudi Arabia Leads Middle East Venture Capital Investments

The "H1 2025 MENA Venture Investment Report" revealed that Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in H1…

Asharq Al Awsat (Riyadh)
Business A food commodities market in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Files Criminal Cases against 35 Firms for Competition Breaches

Saudi Arabia’s General Authority for Competition (GAC) received 340 complaints last year, most of them related to the wholesale and retail sector, and referred…

Bandar al-Mosalam (Riyadh)

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Business A model of oil rigs in front of the OPEC logo (Reuters) 

OPEC: Global Oil Demand Forecasts Unchanged

OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries' crude intake would remain…

Asharq Al Awsat (Vienna)
Business Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo

Gold Rebounds as US Dollar, Treasury Yields Retreat

Gold rose on Wednesday, helped by a slight pullback in the dollar and bond yields, while investors digested data showing an increase in US consumer prices last…

Asharq Al Awsat
Business The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025

Saudi Inflation Rate Remains Stable at 2.3% in June 2025

The General Authority for Statistics (GASTAT) reported that the annual inflation rate in Saudi Arabia remained stable at 2.3% in June 2025 compared to the same…

Asharq Al Awsat (Riyadh)
Business Employees at Aramco (Asharq Al-Awsat)

Saudi Arabia Stockpiles Surplus Oil Production to Face Global Crises

Saudi Arabia has long followed a clear and transparent approach to preserving stability in global energy markets. Historically, it has consistently adhered to…

Bandar al-Mosalam (Riyadh)
Business The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais (X)

OPEC Sees Robust Oil Demand in Third Quarter

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, said the group anticipates exceptionally strong demand…

Asharq Al Awsat (Moscow)
Business The heart of Diriyah reflecting 300 years of history and heritage (Asharq Al-Awsat)

Diriyah Company Awards $600 Million Contract to Salini Saudi Arabia for 400 Retail Units

Diriyah Company has awarded a major new $600 million contract for construction work on the high-profile Diriyah Square retail precinct to Salini Saudi Arabia,…

Asharq Al Awsat (Diriyah)
Business  A laborer works on the glass wall of a building near a luxury brand logo in Beijing, China, Friday, July 11, 2025. (AP)

China’s Economy Set to Slow in Q2 as Pressure from US Tariffs Mounts

China's economy is likely to have cooled in the second quarter after a solid start to the year, as trade tensions and a prolonged property downturn drag on…

Business Two investors monitor the trading screen in the Saudi financial market in Riyadh (AFP) 

4 Factors Behind the Decline of Saudi Stock Market in H1 2025

Financial analysts and market specialists have identified four main factors driving the decline of the Saudi stock market during the first half of 2025…

Mohammed al-Mutairi (Riyadh)
Business A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity

Lebanon's central bank signed an agreement on Monday with US risk management advisory firm K2 Integrity aimed at combating illegal activities and fraud,…

Asharq Al Awsat
Business Traders work at their desks on the floor of the Borsa Istanbul Stock Exchange, Istanbul, Türkiye, May 22, 2018. (AFP Photo)

Türkiye Orders Detention of Eight Suspects over Alleged Stock Market Manipulation

Turkish authorities have issued detention orders for eight suspects accused of manipulating stock prices on the Borsa Istanbul and causing financial losses to…

Asharq Al Awsat
Business European Commission President Ursula von der Leyen gives a speech during a plenary session at the European Parliament, in Strasbourg on July 9, 2025. (Photo by Jean-Christophe VERHAEGEN / AFP)

European Trade Ministers Meet to Forge Strategy after Surprise 30% Tariffs from Trump

European trade ministers are meeting in Brussels on Monday, following US President Donald Trump’s surprise announcement of 30% tariffs on the European Union. …

Asharq Al Awsat
Business A glimpse of Fintech 24 conference in Riyadh (SPA) 

Saudi Arabia Emerges as Global Hub for Billion-Dollar Startups

Saudi Arabia is rapidly establishing itself as a global center for billion-dollar startups, known as “unicorns,” by cultivating an innovation-driven…

Asharq Al Awsat (Riyadh)