Aswat Asharq Al-Awsat :

Saudi Energy and Economy Ministries Launch Carbon Capture, Utilization Challenge with UpLink

Business The Saudi flag. Aswat Asharq Al-Awsatt

Saudi Energy and Economy Ministries Launch Carbon Capture, Utilization Challenge with UpLink

Saudi Arabia's Ministry of Economy and Planning (MEP) and Ministry of Energy (MoEnergy), in collaboration with UpLink, have launched the Carbon Capture and…

Asharq Al Awsat (Riyadh)
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Rises as US Inflation Eases

Oil prices rose on Friday amid signs of easing inflationary pressures in the United States, the world's biggest oil consumer, with Brent crude peaking above …

Asharq Al Awsat
Business An offshore oil rig is seen in the Caspian Sea near Baku, Azerbaijan, October 5, 2017. REUTERS/Grigory Dukor/File Photo

OPEC, IEA Again Forecast Different Oil Demand Growth

OPEC and the International Energy Agency (IEA) again forecasted different short and medium-term global oil demand growth, reports issued by both organizations…

Asharq Al Awsat (London)
Business Photo by SPA

Saudi Energy Minister, German State Secretary Discuss Climate Action, Clean Energy

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz met Wednesday in Riyadh with State Secretary and Special Envoy for International Climate…

Asharq Al Awsat
Business An electric car displayed during the Global EV & Mobility Technology Forum 2024 (Aswat Asharq Al-Awsatt)

Saudi Arabia: Global Strategic Partnerships Accelerate Electric Vehicle Industry

Saudi Arabia has forged strategic partnerships with major international companies to exceed the production capacity of 600,000 electric cars annually,…

Asharq Al Awsat (Riyadh)

Business The Eiffel Tower and the financial and commercial district of La Defense, west of Paris (Reuters)

Saudi-European Investment Relations Enhance Global Economic Stability

External financial bonds, including Eurobonds, constitute an important aspect of Saudi investments, experts told Aswat Asharq Al-Awsatt. This came after the Ministry…

Bandar al-Mosalam (Riyadh)
Business The joint venture contractors include Saudi Arabia-based El Seif Engineering Contracting (ESEC) and China State Construction Engineering Corporation (CSCEC). (Photo: Aswat Asharq Al-Awsatt)

Saudi Arabia’s Diriyah Company Signs $2 Billion Development Contract

The Diriyah Company, which is affiliated with the Saudi Public Investment Fund (PIF), announced on Wednesday the signing of the largest construction contracts…

Asharq Al Awsat (Riyadh)
Business File photo: A person puts gas in a vehicle at a gas station in Manhattan, New York City, US, August 11, 2022. REUTERS/Andrew Kelly/File photo Purchase Licensing Rights

OPEC Sticks to 2024 Oil Demand View, Sees Strong Travel Season

OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air…

Asharq Al Awsat
Business Egyptian street vendors carrying breads, drive past a currency exchange point, displaying images of the US dollar, in Cairo, Egypt May 9, 2024. REUTERS/Amr Abdallah Dalsh Purchase Licensing Rights

Egypt's Inflation Rate Eases for Fourth Month Running in June

Egypt's annual urban inflation rate slowed for a fourth consecutive month in June, to 27.5% from 28.1% in May, data from the country's statistics agency…

Asharq Al Awsat
Business General view of Aramco's oil field in the Empty Quarter, Shaybah, Saudi Arabia, January 12, 2024. REUTERS/Hamad I Mohammed/File Photo Purchase Licensing Rights

Saudi Aramco Share Sale Rises to $12.35 Bn

Saudi Aramco netted $12.35 billion from a secondary share sale, the deal's stabilizing manager said on Wednesday. An additional 154.5 million shares were…

Asharq Al Awsat
Business Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. REUTERS/Alexander Manzyuk/File Photo

Gold Holds Ground as Traders Brace for US Inflation Data

Gold prices held steady on Thursday, with investors awaiting US inflation data due later in the day for more insights on the Federal Reserve's interest rate…

Asharq Al Awsat
Business Wind turbines dot the coast line along a giant solar farm near Weifang in eastern China's Shandong province on March 22, 2024. China's Commerce Ministry has announced it will launch an investigation into whether unfair trade practices were adopted by the European Union in its probe of Chinese companies. It said Wednesday, July 10, 2024 the investigation will focus on wind power, photovoltaics, security equipment and others. (AP Photo/Ng Han Guan)

China Launches Investigation in Response to EU Probes of Solar, Wind Power

China announced an investigation Wednesday into whether the European Union has adopted unfair trade practices in its probes of Chinese companies bidding on…

Asharq Al Awsat
Business Albudaiwi meets with UK Secretary of State for Business and Trade Jonathan Reynolds in London. (SPA)

GCC, UK Agree to Proceed with Free Trade Agreement This Year

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi said on Wednesday the GCC and United Kingdom are in agreement over the importance of…

Business Riyadh Air and Delta Air Lines planes. Aswat Asharq Al-Awsatt

Riyadh Air, Delta Unveil Strategic Partnership

Riyadh Air has partnered with US carrier Delta Air Lines with the goal of operating flights between Saudi Arabia and the United States, the airlines said on…

Asharq Al Awsat (Atlanta)
Business FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

Saudi Aramco to Issue US dollar-Denominated Bonds

Saudi Aramco has said it intends to issue US dollar-denominated international bonds under its Global Medium Term Note Program. Aramco hired banks to sell…

Asharq Al Awsat (Riyadh)
Business Egyptian cabinet met on Tuesday (Aswat Asharq Al-Awsatt)

Egypt Approves $200 Million in Energy Projects

Egypt approved five agreements for gas and crude oil exploration projects for a number of international and national companies, with expected investments of…

Asharq Al Awsat (Cairo)
Business FILE PHOTO: Isla Oil Refinery PDVSA terminal in Willemstad on the island of Curacao, February 22, 2019. REUTERS/Henry Romero/File Photo

Oil Prices Slip as Concerns over Hurricane Damage Ease

Oil prices slipped on Tuesday after a hurricane that hit a key US oil-producing hub in Texas caused less damage than markets had expected, easing concerns over…

Asharq Al Awsat

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Business An employee of “Ejada” performs inspection duties at a commercial shop. Aswat Asharq Al-Awsatt

Riyadh Municipality Adopts New Approach to Boost Business Compliance

Riyadh Municipality has introduced a new model for inspection and oversight aimed at promoting compliance culture and raising awareness of regulatory laws…

Bandar al-Mosalam (Riyadh)
Business Kazakhstan raised oil and gas condensate production in June by 4% from May on a daily basis to 7.24 million metric tons. Reuters

Kazakhstan Prepares Plan to Compensate for Oil Overproduction

Kazakhstan will compensate for oil output exceeding its OPEC+ quota in the first half of this year by September 2025, its energy ministry said on Monday,…

Asharq Al Awsat (London)
Business FILE PHOTO: A man walks into the JP Morgan headquarters at Canary Wharf in London May 11, 2012. REUTERS/Dylan Martinez/File Photo

JPMorgan Cuts Forecast for Emerging Market Corporate Defaults

Investment bank JPMorgan cut on Monday its forecast of the number of emerging market companies expected to default on their debt, following the biggest…

Asharq Al Awsat (London)
Business The Boeing logo is displayed on one of its buildings in El Segundo, California, USA, 08 July 2024. EPA/CAROLINE BREHMAN

FAA Orders Inspection of 2,600 Boeing 737s Over Oxygen Mask Issue

The Federal Aviation Administration said on Monday it is requiring inspections of 2,600 Boeing 737 airplanes because passenger oxygen masks could fail during…

Asharq Al Awsat
Business An MoU was signed to strengthen cooperation between Saudi Arabia and Romania. SPA

Saudi, Romanian Transport Ministers Sign MoU on Logistics Services

Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser has met with Romanian Minister of Transport, Infrastructure, and Communications…

Asharq Al Awsat (Riyadh)
Business Britain's Chancellor Rachel Reeves delivers a speech at the Treasury to an audience of leading business figures and senior stakeholders, announcing the first steps the new government will be taking to deliver economic growth, in London, Monday July 8, 2024. (Jonathan Brady/Pool Photo via AP)

UK Treasury Chief: Stimulating Economic Growth is New Labour Government's Mission

Britain's new Labour government will make stimulating economic growth its mission, the Treasury chief said Monday, pledging to limit bureaucracy to make it…

Asharq Al Awsat (London)
Business FILE PHOTO: Oil pump jacks are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo

Oil Slips as Gaza Talks Ease Supply Worries; Hurricane Beryl in Focus

Oil prices slid on Monday after rising for four weeks, as the prospect of a ceasefire deal in Gaza eased tensions in the Middle East, while investors assessed…

Asharq Al Awsat
Business A part of Ras Al Khair Industrial City, which is considered the main cornerstone of the mining industry in the Kingdom (SPA)

Saudi Arabia Issues 86 Industrial Licenses in April Worth $587 Million

Saudi Arabia's Ministry of Industry and Mineral Resources issued 86 new industrial licenses in April, totaling investments of SAR2.2 billion (USD587 million)…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia's Liquidity Hits All-Time High of SAR2.825 Trillion

Saudi Arabia's Liquidity Hits All-Time High of SAR2.825 Trillion

Saudi Arabia's liquidity levels continued to grow strongly, reaching SAR2,825,715 million at the end of May 2024, marking an annual growth of approximately 8.6…

Business A participant holds a French flag during an election night rally following the first results of the second round of France's legislative election at Place de la Republique in Paris on July 7, 2024. (AFP)

Euro Falls as Markets Brace for French Post-election Gridlock

The euro slipped on Sunday after projections from France's election pointed to a hung parliament and an unexpectedly strong showing for the left-wing New…

Business  Vehicles are carried by ferry across Aransas Pass as Hurricane Beryl moves closer to the Texas coast, Saturday, July 6, 2024, in Port Aransas, Texas. (AP)

US Coast Guard Says Hurricane May Shut Oil Ports

The US Coast Guard warned of possible Texas port closures from Corpus Christi to Houston and began restricting vessel traffic because of Tropical Storm Beryl,…

Business A worker at a supermarket in South Korea puts bags of instant noodles on the shelves (Yonhap news agency)

South Korea’s Food Exports Rose to $6.2 Billion in 6 Months

South Korea's exports of food and related goods rose 5.2% on-year in the first half of 2024, government data showed, led by the popularity of instant noodles…

Asharq Al Awsat