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The Latest Breaking News from Asharq Al-Awsat

Hermes Sales Rise 23% in Q1, Boosted by China

Sales at Birkin bag maker Hermes rose 23% in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil. Sales for the three months ending in March came to 3.38 billion euros.

Asharq Al-Awsat

Russia Says Black Sea Grain Deal May Be Nearly Over

Russia on Thursday said there would be no extension of the UN-brokered Black Sea grain deal beyond May 18 unless the West removed a series of obstacles to the export of Russian grain and fertilizer. The Ukraine grain Black Sea export deal was brokered by the United Nations and Türkiye…

Asharq Al-Awsat

Gulf Countries Welcome Reestablishment of Ties between Qatar, Bahrain

Saudi Arabia welcomed on Thursday the announcement that Bahrain and Qatar had agreed to restore relations. The Saudi Foreign Ministry described the decision as positive, adding that it underscores the strength of relations between countries of the Gulf Cooperation Council and will help in boosting joint Gulf work to meet…

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Two Rights Groups: Iran Executions Surge in Bid to 'Spread Fear'

Two rights groups revealed on Thursday that Iran is using death penalty as an “execution machine” aimed at spreading fear as protests shook the country in 2022. According to Norway-based Iran Human Rights (IHR) and France's Together Against the Death Penalty (ECPM), Iran hanged 75 percent more people in 2022…

Asharq Al-Awsat

Taiwan President Thanks Fighter Pilots as Chinese Drills Ebb

Taiwan President Tsai Ing-wen on Friday thanked fighter pilots who scrambled against China's air force during its drills around the island and pledged to keep strengthening the armed forces, as Beijing's military activities around the island ebbed. China began the exercises, including simulated precision strikes with bombers and missile forces,…

Asharq Al-Awsat

Saudi FM Meets with US Coordinator for the Middle East and North Africa

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah held talks in Jeddah on Thursday with White House Coordinator for the Middle East and North Africa Brett McGurk. They discussed ways to bolster joint coordination to serve the interests of their countries. They also covered regional and international developments. Prince…

Asharq Al-Awsat

Three Electrocuted in Iraq Floods

At least three people have been electrocuted in central Iraq after torrential rain played havoc with the war-ravaged country's dilapidated power grid, a medical official said Thursday. The three deaths happened in separate incidents in the central province of Babil, said Dr Ahmed Sabbah, director of the Institute of Forensic…

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Crown Prince Launches 4 New Special Economic Zones in Saudi Arabia

Prince Mohammad bin Salman bin Abdulaziz, Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs, launched on Thursday four new Special Economic Zones in Saudi Arabia in line with his commitment to strengthening the Kingdom's position as a global investment destination. The new Special Economic…

Asharq Al-Awsat

Guardsman Arrested in Leak of Classified Military Documents

A Massachusetts Air National Guard member was arrested Thursday in connection with the disclosure of highly classified military documents about the Ukraine war and other top national security issues, an alarming breach that has raised fresh questions about America's ability to safeguard its most sensitive secrets. The guardsman, an IT…

Asharq Al-Awsat

Travel Ban on Lebanon's Central Bank Governor Lifted

A travel ban on Lebanon's central bank governor Riad Salameh was lifted on Thursday by prosecutor Ghada Aoun, the state news agency (NNA) reported. Salameh is part of a political class widely blamed for Lebanon's unprecedented economic crisis. He is the target of a series of judicial investigations both at…

Asharq Al-Awsat

Inflation in Saudi Arabia Drops in March

The inflation rate in the Kingdom remained relatively stable in the first quarter of 2023, reaching 3.4% in January, going down in February to 3%, and standing at 2.7% in March, achieving relative stability in the first quarter of 2023. The Consumer Price Index for March 2023 reflects the stability…

Asharq Al-Awsat

Italy Vows Help with IMF in Bid to Stabilize Tunisia

Italy on Thursday vowed a host of investments in Tunisia and help negotiating an International Monetary Fund bailout as Rome seeks to stabilize the North African country's economic crisis and stem the increased number of migrants coming to the European nation. Foreign Minister Antonio Tajani outlined Italy’s efforts and pledges…

Asharq Al-Awsat

Oil Edges Down on US Recession Risk

Oil prices slipped on Thursday as the prospect of a possible recession in the United States, the world's largest oil consumer, offset concerns of tight supply. Brent crude fell 55 cents, or 0.63%, to $86.78 a barrel by 1352 GMT.

Asharq Al-Awsat

Hong Kong Billionaire Lo in Talks with Potential F1 Teams

Hong Kong-based billionaire Calvin Lo, who already has financial links to Formula One team Williams, says he would like to see a greater Asian presence in F1 and is in talks with potential new teams. The chief executive of insurance broker RE Lee International told Reuters he was considering backing…

Asharq Al-Awsat

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Asharq Al-Awsat

Twitter Joins eToro to Let Users See Real-time Stock Information

Trading and investing platform eToro said on Thursday it has partnered with Elon Musk-led Twitter to let users access real-time prices for cryptocurrencies, stocks and others assets. The trading data will be available through Twitter's Cashtags feature, which was launched in 2012 and allows users to interact with content around…

Asharq Al-Awsat

Egypt Relies on Local Wheat Production, Increases Procurement Price 50%

Egypt's cabinet has raised the local wheat procurement price for the 2023 season to 1,500 pounds ($48.5) per ardeb (150 kilograms), it said in a statement on Wednesday. The new price brings a 50% increase from the initial price the cabinet had set in August of 1,000 Egyptian pounds. It…

Asharq Al-Awsat

ACWA Power to Develop $677 Mln Desalination Project in Saudi Arabia

ACWA Power has signed water purchase agreements for the 600,000 cubic meter per day Rabigh 4 Independent Water Plant (IWP) in Saudi Arabia. Valued at around SAR 2.54 billion ($677 million), the reverse osmosis plant will serve Makkah and Madinah regions, which typically see a spike in demand during Ramadan…

Asharq Al-Awsat

Iran in Secret Talks with China, Russia to Acquire Ballistic Missile Fuel

China and Russia are engaged in secret talks with Iran to supply a key chemical compound used to propel ballistic missiles, according to diplomats familiar with the matter.

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Asharq Al-Awsat

Iran Uses Earthquake Relief Mission to Fly Weapons to Syria

Iran used earthquake relief flights to bring weapons and military equipment into its strategic ally Syria, nine Syrian, Iranian, Israeli, and Western sources said. The sources told Reuters that the goal was to buttress Iran's defenses against Israel in Syria and to strengthen Syrian President Bashar al-Assad. Reuters is the…

Asharq Al-Awsat

Israeli Official to Visit Washington after Pentagon Leaks

The Director General of the Israeli Ministry of Defense, Eyal Zamir will visit Washington Thursday to discuss the leaks of the Pentagon’s secret documents that suggested the US had spied on some of its closest allies, including on Israel. Highly classified Pentagon documents leaked online recently, including a report produced…

Asharq Al-Awsat

Sanaa Meetings Continue, Prisoner Swap to Begin Friday

Yemeni government officials have delayed the agreed-upon prisoner exchange deal to Friday from Thursday, as Saudi and Omani efforts continue in Sanaa to encourage Houthi leaders to implement an intra-Yemeni peace plan. The plan seeks to establish a ceasefire, renew and expand humanitarian truce, and ultimately lead to a negotiating…

Asharq Al-Awsat

CENTCOM Forces Capture ‘Yemeni ISIS Operative’ in Syria

The US Central Command forces conducted a helicopter raid in eastern Syria late on the evening of April 8, capturing Hudayfah al Yemeni, an ISIS attack facilitator, and two of his associates. “The capture of Hudayfah al Yemeni and his associates will disrupt the organization's ability to plot and carry…

Asharq Al-Awsat

Japan Offers Iran Assistance to Complete Nuclear Negotiations

Japanese Foreign Minister Yoshimasa Hayashi offered his Iranian counterpart, Hossein Amir-Abdollahian, help to push through the stalled talks to revive the 2015 nuclear deal. The Iranian Foreign Ministry said that Amir-Abdollahian discussed bilateral ties and regional and international developments over the phone with his Japanese counterpart. They also discussed the…

Asharq Al-Awsat

GCC-listed Companies Register Record Profits

Companies listed in the GCC markets registered record profits last year, achieving remarkable financial results that came in parallel with a significant improvement in post-pandemic economic activity, resulting in one of the best GDP growth rates in 2022. A Gulf report issued on Wednesday showed that the industrial activity in…

Asharq Al-Awsat

Bipartisan US Efforts to Strengthen Relations with Saudi Arabia

White House National Security Advisor Jake Sullivan recently phoned Saudi Arabia’s Crown Prince Mohammed bin Salman, while senior Republican senator Lindsey Graham visited him, highlighting a growing bipartisan interest in strengthening the historical ties between the US and the Kingdom. Recent interactions between senior Saudi leaders and both Democratic and…

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