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 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/Jason Lee//File Photo Purchase Licensing Rights

China Autos Group 'Strongly Dissatisfied' with EU Anti-subsidy Tariffs

The China Association of Automobile Manufacturers (CAAM) is "strongly dissatisfied" with anti-subsidy tariffs proposed by the European Union, the industry…

Asharq Al Awsat
Business A view of the Palace of Westminster which houses Britain's parliament, during the general election, in London, Britain, July 5, 2024. REUTERS/Hannah McKay Purchase Licensing Rights

British Assets Gain, Mid-cap Stocks Lead after Labour Election Win

British domestic-focussed mid-cap stocks were the biggest gainers on Friday after the centre-left Labour Party surged to a comprehensive win in a parliamentary…

Asharq Al Awsat
Business A German flag blows in the wind in front of a stack of containers at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights

German Coalition Reaches Breakthrough on 2025 Budget, Financial Plan

The leaders of Germany's three-party coalition on Friday achieved a breakthrough in negotiations on the national budget for 2025, dpa has learnt from…

Asharq Al Awsat
Business The government also sharply revised down its estimate of job growth for April and May by a combined 111,000.  (Reuters pic)

US Employers Added Solid 206,000 Jobs in June

US employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the US economy’s ability to withstand high…

Asharq Al Awsat
Business N/A

Green Investments Surge in Saudi Arabia with Circular Economy, Clean Hydrogen Tech

Saudi Arabia is pushing towards achieving carbon neutrality by 2060 and developing a green economy. Skytower Investments, a renewable technology, green…

Fatehelrahman Yousif (Riyadh)
Business Kuwait’s Finance and Investment Minister Dr. Anwar Al-Mudhaf (Aswat Asharq Al-Awsatt)

Kuwait Finance Minister Forecasts $85 Bn Deficit Over Next Four Years

Kuwait’s Finance and Investment Minister, Dr. Anwar Al-Mudhaf, anticipates a budget deficit of 26 billion dinars ($85 billion) over the next four years…

Asharq Al Awsat (Kuwait)
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 Prices on Track for Fourth Straight Week of Gains

Oil prices dipped on Friday but were on track for a fourth straight week of gains and were near their highest levels since late April on hopes of strong summer…

Asharq Al Awsat
Business Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold Set for Second Straight Weekly Rise

Gold prices firmed on Friday and were set for a second straight weekly gain, while traders awaited US employment data to gauge the trajectory of the Federal…

Asharq Al Awsat
Business Abu Dhabi National Oil Company signed a general agreement with the Japan Bank for International Cooperation for a $3 billion green financing facility. WAM

UAE’s ADNOC, Japan Bank for International Cooperation Sign $3 Billion Green Financing Agreement

Abu Dhabi National Oil Company (ADNOC) has signed a general agreement with the Japan Bank for International Cooperation (JBIC) for a $3 billion (AED11 billion)…

Asharq Al Awsat (Abu Dhabi)
Business A European Commission probe launched last year concluded that state subsidies for Chinese EV manufacturers were unfairly undercutting European rivals © STR / AFP/File

EU Slaps Chinese Electric Cars with Tariffs of up to 38%

The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of Beijing's "unfair" support, a…

Asharq Al Awsat
Business A general view shows Tahrir Square in Cairo, Egypt July 13, 2020. (Reuters)

Egypt's Non-oil Sector Edges Closer to Growth in June

Egypt's non-oil private sector showed more signs of improvement in June, a survey showed on Thursday. The S&P Global Purchasing Managers' Index for Egypt…

Asharq Al Awsat
Business A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia, Romania Sign MoU to Enhance Agricultural Cooperation

The Kingdom of Saudi Arabia, represented by the Ministry of Environment, Water, and Agriculture, signed a memorandum of understanding with the Ministry of…

Business Mawani Extends Exemption for Empty Container Fees at Dammam Port

Mawani Extends Exemption for Empty Container Fees at Dammam Port

The Saudi Ports Authority (Mawani) announced the extension of the exemption period for storage fees for exported empty containers at King Abdulaziz Port in…

Asharq Al Awsat
Business Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold Lingers Near Two-week High as Focus Shifts to Payrolls Data

Gold prices were flat near a two-week high on Thursday after softer-than-expected US economic data spurred hopes of interest rate cuts as early as September,…

Asharq Al Awsat
Business An aerial view shows Vladimir Arsenyev tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel/File Photo Purchase Licensing Rights

Brent Crude Oil Holds Above $87 a Barrel

Oil prices for Brent crude held above $87 a barrel on Thursday, near their highest level since late April after data the previous day showed a decline in US…

Asharq Al Awsat
Business King Abdullah Financial Center in Saudi Arabia (Aswat Asharq Al-Awsatt)

Saudi Arabia’s PMI Remains in Economic Expansion Zone

The latest Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) showed the Kingdom's PMI stabilized at 55, as a result of another strong improvement in…

Asharq Al Awsat (Riyadh)
Business Part of the job fair at the Chamber of Commerce in the Eastern Province, Saudi Arabia (Aswat Asharq Al-Awsatt)

New Saudi System to Sustain Insurance Funds, Enhance Job Market Efficiency

Saudi Arabia’s Cabinet, led by Crown Prince and Prime Minister Mohammed bin Salman, approved a new social insurance system for new workers during its session…

Bandar al-Mosalam (Riyadh)
Business The deal was announced by Turkmenistan's foreign ministry - AFP File Photo

Turkmenistan, Iran Sign Deal to Supply Gas to Iraq

Turkmenistan and Iran on Wednesday signed a contract for the delivery of 10 billion cubic meters a year of Turkmen gas that Iran will then ship on to Iraq. …

Asharq Al Awsat
Business The ISM reported on Monday that manufacturing activity had deteriorated further in June.- Reuters

US Service Sector Sags in June as Orders Sink

A measure of US services sector activity slumped to a four-year low in June amid a sharp drop in orders, potentially hinting at a loss of momentum in the…

Asharq Al Awsat
Business A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, welds aluminium at the company's plant in Winsen, Germany, July 10, 2018. REUTERS/Fabian Bimmer/ File Photo Purchase Licensing Rights

Euro Zone Business Growth Slowed Sharply in June

Overall business growth across the euro zone slowed sharply last month as a solid expansion in the bloc's dominant services industry failed to offset a…

Asharq Al Awsat
Business Saudi Arabia's SAMI and Turkish Firms Establish New Defense Industry Collaborations

Saudi Arabia's SAMI and Turkish Firms Establish New Defense Industry Collaborations

State-owned Saudi Arabian Military Industries (SAMI) said early on Thursday it signed three memorandums of understanding (MOUs) with Turkish companies to …

Business Cafes are among the small establishments witnessing growth in the Saudi market (SPA)

3,000 Saudi SMEs Benefit from Loans Exceeding $2.1 billion

Around 3,000 Saudi SMEs benefited from The Small and Medium Enterprises Loan Guarantee Program (Kafalah) during the first half of 2024. The program…

Asharq Al Awsat (Riyadh)
Business The Saudi Minister of Communications and Information Technology met with the CEO of Meta. SPA

Saudi Communications Minister Meets with Heads of Meta, Google to Boost Kingdom’s Digital Economy

The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, met with the CEO of Meta, Mark Zuckerberg, during an official…

Asharq Al Awsat (Riyadh)
Business Saudi Stock Market (Tadawul) (AFP)

How Will Gulf Stock Markets Perform this Summer?

Financial analysts and market experts predict a downturn for Gulf stock markets this summer. They foresee lower stock values, reduced trading volumes, sectoral…

Mohammed al-Mutairi (Riyadh)