Wednesday, October 14, 2026Jumada I 3, 1448 AH

العربية
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Business

Business

EU Nations to Hold Emergency Meeting on Soaring Diesel Prices amid US Pressure

EU nations will meet Friday, aiming to develop a unified response to soaring diesel prices, a day after the US called on its European allies to release strategic reserves "immediately" to stem the crisis. The emergency meeting between EU member states and the European Commission is scheduled for early in the day, a Commission spokesperson said late Thursday. Washington is piling on pressure to get European help with fuel costs, with US President Donald Trump on Wednesday floating the possibility of banning diesel exports, said AFP.

Asharq Al-Awsat English

Business

Not Your Everyday Coffee in a Serbia Cafe. Enjoy it in the Company of Alpacas

A cafe in northern Serbia has unusual hosts: six alpacas. The South American animals, of various sizes and colors, roam among the tables at the Tiganjica Ethno-Village resort near Stajicevo, north of Belgrade, happy to interact with the guests. The Alpaca Cafe here opened only a week ago and is a rare sight in Europe. Tiganjica resort owner Zoran Ostojin said he got the idea in Slovakia.

Asharq Al-Awsat English

Business

Nike Plans More Job Cuts to Boost Sputtering Turnaround, Forecasts Steep Revenue Drop

Nike is deepening its restructuring under CEO Elliott Hill as its woes in China intensify, announcing a plan to cut more jobs and shake up its global business divisions after the sportswear giant projected a surprisingly steep drop in full-year revenue. The tepid forecast on Thursday underscored that Nike's challenges will likely persist for at least several more quarters — especially in China, where sales tumbled 26% on a constant-currency basis in the first quarter — adding to investor unease about the pace of Hill's turnaround. Its shares fell 8.5% in extended trading.

Asharq Al-Awsat English

Business

Saudi Arabia, EU discuss key trade challenges and barriers

Saudi Arabia, represented by the General Authority of Foreign Trade (GAFT), held a virtual technical meeting on Thursday with the European Union (EU), co-chaired by GAFT Deputy Governor for International Relations Abdelaziz Al-Sakran and Head of Unit for Middle East at the European Commission's Directorate General for Trade and Economic Security Ignacio Díez.

Saudi Gazette

Business

France Faces a Difficult Triple Challenge: Stagnant Economy, Debt and Angry Streets

With an economy barely growing, public finances drained by debt, and the streets returning to protest, France faces a highly complex equation. The government is under pressure to address demands over wages, purchasing power, and public services, while preparing an austerity budget expected to cut spending by billions of euros. At the same time, the country is approaching a presidential election, making any economic decision more politically sensitive.

Asharq Al-Awsat English

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