Business

Gold Falls to One-week Low as Dollar Firms after Tariff Deadline Extension

Business FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold Falls to One-week Low as Dollar Firms after Tariff Deadline Extension

Gold prices retreated to a one-week low on Monday as the dollar firmed and traders digested US President Donald Trump's extension of his July 9 tariff deadline…

Asharq Al Awsat
Business A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo

Oil Rises as Tight Market Supports despite Big OPEC+ Hike

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of US tariffs, with…

Asharq Al Awsat
Business The Bank of Israel building in Jerusalem - Reuters

Bank of Israel Keeps Rates on Hold as Inflation Stays Just Above Target Range

The Bank of Israel left short-term interest rates unchanged on Monday citing "geopolitical uncertainty" and saying inflation remained above the target range…

Asharq Al Awsat
Business Photo by SPA

Saudi Arabia Participates in UNCITRAL Annual Session in Vienna

The United Nations Commission on International Trade Law (UNCITRAL) has opened its 58th annual session in Vienna, Austria, with the Kingdom represented by an…

Asharq Al Awsat
Business 3D printed miniatures of US President Donald Trump and Elon Musk, and Tesla logo are seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration

Tesla Shares Fall as Musk's 'America Party' Riles Investors

Tesla shares fell over 3% on Monday, under pressure from investor concerns about the focus of boss Elon Musk after he announced he would form a new US…

Asharq Al Awsat

Business North Korea has barred Western influencers from joining tourists to an international trade fair, a China-based tour operator said. STR / KCNA VIA KNS/AFP

North Korea Bars Western Influencers from Trade Fair Tour

North Korea has barred Western influencers from joining a delegation of tourists to an international trade fair in October, a China-based tour operator told…

Asharq Al Awsat
Business Saudi Commerce Ministry headquarters in Riyadh (SPA)

Saudi Arabia: Commercial Licenses Reach 1.7 Million in Q2

Saudi Arabia issued more than 80,000 new commercial registrations in the second quarter of 2025, bringing the total number of active business licenses across…

Asharq Al Awsat (Riyadh)
Business A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, July 2, 2025. (AP Photo/Ahn Young-joon)

Asian Markets Drop as Trump's Tariff Deadline Looms

Most Asian markets fell Monday as countries fought to hammer out trade deals days before Donald Trump's tariff deadline, though investors took heart after he…

Asharq Al Awsat
Business The sun sets behind the Petronas Twin Tower in Kuala Lumpur, Malaysia, Monday, June 30, 2025. (AP Photo/Vincent Thian)

French Companies Seek to Invest $947 Million in Malaysia

Several French companies seek to invest a total of 4 billion ringgit ($947 million) in Malaysia after a trade delegation led by Prime Minister Anwar Ibrahim…

Asharq Al Awsat (Kuala Lumpur)
Business Russian Foreign Minister, Sergei Lavrov, Abu Dhabi Crown Prince, Khalid bin Mohamed bin Zayed al-Nahyan, Indonesian President, Prabowo Subianto, South African President, Cyril Ramaphosa, Brazilian President, Luiz Inacio Lula da Silva, Indian Prime Minister, Narendra Modi, Chinese Prime Minister, Li Qiang, Ethiopian Prime Minister, Abiy Ahmed, Egyptian Prime Minister, Mostafa Madbouly, and Iranian Foreign Minister, Abbas Araghchi pose during the opening of the BRICS summit in Rio de Janeiro, Brazil, 06 July 2025.  EPA/ANDRE COELHO

BRICS Group Condemns Increase of Tariffs in Summit Overshadowed by Middle East Tensions

The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming US President Donald Trump. The…

Asharq Al Awsat
Business US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo

US Close to Several Trade Deals, Announcements to be Made in Next Days, Bessent Says

The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent said on…

Asharq Al Awsat
Business People walk along Qianmen promenade in Beijing on July 5, 2025. (Photo by Adek BERRY / AFP)

China Retaliates to EU Ban with Import Restrictions on Medical Devices

China's finance ministry said on Sunday it was restricting government purchases of medical devices from the European Union that exceed 45 million yuan ($6.3…

Asharq Al Awsat
Business The Saudi capital, Riyadh (Asharq Al-Awsat)

Saudi Arabia’s Booming Tourism Fuels Hotel Bookings and Local Hiring

Saudi Arabia’s tourism sector has continued its rapid growth, driving record demand for hotels and hospitality services and creating new jobs across the…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A banner depicting an European Union flag is reflected in a window outside the EU Council headquarters in Brussels, Belgium March 18, 2025. REUTERS/Yves Herman//File Photo

EU to Stockpile Critical Minerals Over War Risk

Brussels says it will build up emergency stockpiles of critical minerals and cable repair kits as concerns mount over the EU’s vulnerability to attack. “The…

Asharq Al Awsat (London)
Business A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)

OPEC+ to Boost Oil Production by 548,000 Barrels per Day in August

Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further…

Business Commerce Secretary Howard Lutnick listens to Senators speak during a Senate Appropriations hearing, June 4, 2025, on Capitol Hill in Washington. (AP)

Japan Tariff Negotiator Held In-Depth Talks with Lutnick, Japanese Government Says

Japan's tariff negotiator Ryosei Akazawa held "in-depth exchanges" over the phone with US Commerce Secretary Howard Lutnick on Thursday and Saturday, the…

Business FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/File Photo

Eight OPEC+ Alliance Members Move toward Output Hike at Meeting

Saudi Arabia, Russia and six other key members of the OPEC+ alliance will discuss crude production on Saturday, with analysts expecting the latest in a series…

Asharq Al Awsat

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Business Riyadh, Saudi Arabia (AFP)

Saudi Business and Job Growth Hit 14-Year High

Business conditions in Saudi Arabia’s non-oil private sector improved notably in June, driven by a marked rise in customer demand and expanded production,…

Asharq Al Awsat (Riyadh)
Business (COMBO) This combination of pictures created on July 04, 2025 shows a Scandinavian airline SAS plane flying over Heathrow airport on the outskirts of London on January 15, 2024 (top) and an Air France-KLM plane taking off from Tegel 'Otto Lilienthal' Airport in Berlin on November 8, 2020. (Photo by Adrian DENNIS and Odd ANDERSEN / AFP)

Air France-KLM to Take Majority Stake in Scandinavian Airline SAS

Air France-KLM plans to increase its stake in Scandinavian airline SAS to 60.5%, the latest step towards consolidating Europe's fragmented airline sector as…

Asharq Al Awsat
Business The International Air Transport Association (IATA) logo is seen at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018. REUTERS/Fabrizio Bensch 

IATA: Air Cargo Demand Up 2.2% Despite Trade Disruptions

Total air cargo demand, measured in cargo ton-kilometers (CTK), rose by 2.2% compared to May 2024 levels, up 3.0% for international operations, according to…

Asharq Al Awsat (Geneva)
Business A view of the Chevron oil refinery in Richmond, California, USA, 27 June 2025. EPA/JOHN G. MABANGLO

Oil Falls as Iran Affirms Commitment to Nuclear Treaty

Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef. (SPA)

Saudi Industry Minister Launches Second Phase of Saudi-Omani Industrial Integration

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al…

Business  Pens lay on a table before House Speaker Mike Johnson, R-La., arrives to sign President Donald Trump's signature bill of tax breaks and spending cuts, Thursday, July 3, 2025, at the Capitol in Washington. (AP)

IMF Says US Tax, Spending Bill Runs Counter to Deficit-Cutting Advice

The massive US tax and spending bill slated for a final vote in Congress runs counter to the International Monetary Fund's recommendations that Washington…

Business US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, DC, US, June 27, 2025. (Reuters)

US Treasury Chief Sees 100 Countries Getting 10% Reciprocal Tariff

About 100 countries are likely to see a reciprocal tariff rate of 10%, US Treasury Secretary Scott Bessent said on Thursday, adding that he expects "a flurry"…

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

Oil Retreats on US Tariff Uncertainty and OPEC+ Supplies

Oil prices slipped on Thursday as the possibility of US tariffs being reinstated raised demand concerns ahead of an expected supply boost by major producers. …

Asharq Al Awsat
Business The Chikyu, pictured here in 2013, will drill around the remote island of Minami Torishima. TOSHIFUMI KITAMURA / AFP/File

Japan Plans 'World First' Deep-sea Mineral Extraction

Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest trial of its kind, the director of a government innovation…

Asharq Al Awsat
Business FILE PHOTO: 24 karat gold bars are seen at the United States West Point Mint facility in West Point, New York June 5, 2013.  REUTERS/Shannon Stapleton/File Photo

Gold Holds in Narrow Range as Spotlight Shifts to US Jobs Data

Gold prices were stuck in range-bound trade on Thursday as investors awaited US non-farm payrolls data that could influence the Federal Reserve's timeline for…

Asharq Al Awsat
Business Engineer Waleed Al-Khuraiji attends Africa Day reception in Riyadh (Asharq Al-Awsat)

Saudi Arabia Pledges $25 Bln Investment to Support Africa

Saudi Arabia on Wednesday announced ambitious plans to scale up its diplomatic and economic presence in Africa, aiming to boost its investments on the…

Asharq Al Awsat (Riyadh)
Business Foreign tourists visit AlUla, one of Saudi Arabia’s top heritage sites (Asharq Al-Awsat)

Foreign Tourist Spending in Saudi Arabia Tops $13 Bln in Q1

Saudi Arabia recorded a sharp rise in inbound visitor spending in the first quarter of 2025, with international tourists spending 49.4 billion riyals ($13.2…

Bandar al-Mosalam (Riyadh)