Business

Gold Rises, but on Track for Weekly Loss as Fed Rate Hike Expectations Build

Business FILE PHOTO: A raw gold bar is displayed at Nigeria’s booth at the 8th China International Import Expo (CIIE) venue in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov/File Photo

Gold Rises, but on Track for Weekly Loss as Fed Rate Hike Expectations Build

Gold prices rose on Friday but was on track for a weekly loss, as rising US Treasury yields and growing expectations of Federal Reserve rate hikes weighed on…

Asharq Al Awsat
Business US dollar banknotes (Reuters)

Dollar Falls as Oil Eases, Yen Rallies on Japan Remarks

The dollar fell on Friday as oil prices eased, but was poised for a second straight weekly advance on growing rate hike bets, while the yen rallied after Japan…

Asharq Al Awsat
Business FILE - This file photo released on April 7, 2019, by the Syrian official news agency SANA, shows a worker filling a pickup at a gas station, in Homs, Syria. (SANA via AP, File)

Gasoline Shipped to Syria Begins Moving by Road to Iraq, Syrian Official Says

Gasoline shipped to Syria has begun moving by road to Iraq, a senior Syrian oil official told Reuters, establishing a two-way energy corridor through a route…

Asharq Al Awsat
Business Patrick Pouyanne, CEO of TotalEnergies, attends the ROG.e, Brazil's largest oil and gas event in Rio de Janeiro, Brazil, September 21, 2026. REUTERS/Ricardo Moraes

TotalEnergies Board Backs CEO Pouyanne's Mandate Renewal

TotalEnergies said on Friday its board unanimously backed the renewal of Chairman and CEO Patrick Pouyanne's mandate and reaffirmed the relevance of the …

Asharq Al Awsat (Paris)
Business Japan's 10-year yield reached a fresh 30-year high in morning trade on Friday. Kazuhiro NOGI / AFP

Asian Markets Mixed after Oil Gains

Asian markets were mixed Friday after recent oil price surges and as US and Japanese bond yields hit multi-year highs with no end in sight for the Middle East…

Asharq Al Awsat

Business US Energy Secretary Chris Wright holds a press conference on the sidelines of the International Atomic Energy Agency (IAEA) General Conference in Vienna, Austria, September 14, 2026. (Reuters)

US Business Lobbies Say Diesel Export Ban Would Backfire

Trade associations representing large US companies and energy suppliers urged President Donald Trump to resist calls for a diesel fuel export ban, arguing the…

Business An oil field in the Dibs area on the outskirts of Kirkuk, Iraq (Reuters)

Iraq Exports 2.6 million bpd from Southern Ports

Iraq is exporting around 2.6 million barrels of oil per day from its southern ports so far in September and producing more than 3 million bpd from its southern…

Asharq Al Awsat
Business Gas prices at a Shell gas station above $6 a gallon for regular gasoline and $8 a gallon for diesel are displayed across from a US flag outside of the Marathon Petroleum Corp. (Photo by Patrick T. Fallon / AFP)

Oil Gains on Little Sign of Progress in US-Iran Talks

Oil prices rose more than 1% on Thursday as diplomatic talks between the US and Iran showed little sign of progress, while investors focused on uncertainty…

Asharq Al Awsat
Business Aramco President and CEO Amin Nasser speaks during a press conference. Reuters file photo

Saudi Aramco Chief: Any Interruption Can be Fixed 'Within Days'

Saudi Aramco can restore disrupted operations within days and is looking at building alternative oil export routes, its President and CEO Amin Nasser said. …

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: US dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Fed's Williams Says it is Reasonable to See Another US Rate Hike this Year

New York Federal Reserve President John Williams said on Thursday it was reasonable to think that the US central bank might need to raise interest rates again…

Asharq Al Awsat
Business FILE - A worker collects engine oil as he works at a degassing station in Zubair oil field, near Basra, Iraq, Saturday, March 28, 2026. (AP Photo/Leo Correa, File)

EBRD Cuts Growth Outlook Again as Iraq, Lebanon, Ukraine Hit by War Pressures

Growth is slowing across a range of emerging market nations, with economies in Iraq, Lebanon and Ukraine hamstrung by the effects of war, the European Bank for…

Asharq Al Awsat (London)
Business US Department of the Treasury (Reuters)

As 5% Treasury Yields Lose Shock Value, Investors Start Worrying about 6%

For years, 5% on the benchmark US 10-year Treasury yield was viewed as the point at which global financial markets would start hitting turbulence. That…

Asharq Al Awsat
Business One of the manufacturing facilities of Eastern Pipes Company in Saudi Arabia. (Company photo)

East Pipes Signs $12.27 Million Contract with Aramco

Saudi Arabia's East Pipes Integrated Company for Industry has signed a new five-month contract with Saudi Aramco to manufacture and supply steel pipes, with…

Asharq Al Awsat
Business An investor walks past the Tadawul logo at the Saudi stock exchange. (Reuters)

Saudi Sukuk, Bonds Gain New Route to Liquidity

Saudi Arabia is bringing trade execution, clearing and settlement into a connected electronic workflow for its riyal-denominated sukuk and bond market, a step…

Asharq Al Awsat (Riyadh)
Business European Central Bank (ECB) President Christine Lagarde (CL) and Gabriel Makhlouf (CR), Governor of the Central Bank of Ireland during the family photo at the Informal meeting of EU Finance Ministers in Dublin Castle, Dublin, Ireland 18 September 2026. EPA/BRYAN MEADE

ECB Says Will Have to Act Again if 2nd-round Inflation Effects Appear

European Central Bank will have to raise interest rates again if high energy prices feed through to other areas but so far there is no sign of such second…

Asharq Al Awsat
Business A view of the European Parliament in Brussels, Belgium, 23 September 2026. EPA/OLIVIER HOSLET

Surveys: Europe's Economy Surprisingly Resilient amid War-Driven Energy Shock

Europe's economy is showing unexpected signs of health even as conflicts in the Middle East and Ukraine drive up energy costs for firms and households, key…

Asharq Al Awsat
Business What Do Saudi SMEs Need to Grow?

What Do Saudi SMEs Need to Grow?

Financing alone is no longer enough to propel Saudi Arabia’s small and medium-sized enterprises into their next phase of growth, as their needs increasingly…

Sara bin Shamran (Riyadh)

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Business OECD Lifts 2026 Global Growth Forecast to 2.9% Despite Mideast War

OECD Lifts 2026 Global Growth Forecast to 2.9% Despite Mideast War

Economic growth has remained "resilient" in many countries despite the war in the Middle East, the OECD said Wednesday as it slightly raised its GDP forecasts…

Asharq Al Awsat
Business A man walks past a traditional sidewalk kiosk in Cairo on September 18, 2026 (AFP)

IMF: Egypt Absorbs Economic Shocks of War

Egypt has weathered one of the region's largest recent economic shocks without a broader downturn, benefiting from improved international reserves, exchange…

Asharq Al Awsat (Washington)
Business Gas and diesel prices are displayed at a Mobil station, Tuesday, Sept. 22, 2026, in Los Angeles. (AP Photo/Richard Vogel)

Ban on US Diesel Exports Would Hurt, Not Help Fuel Markets, Analysts Say

US President Donald Trump on Tuesday said he backed the idea of a diesel export ban as a way to lower prices that have hit record highs due to a global supply…

Asharq Al Awsat
Business FILE PHOTO: A small tanker sails near an oil refinery, in the Keihin Industrial Zone in Kawasaki, south of Tokyo, Japan March 17, 2026.  REUTERS/Issei Kato/File Photo

Oil Prices Fall after Trump Hails 'Good' Talks with Iran

Oil prices fell on Wednesday after President Donald Trump said US and Iranian representatives had met for "very good" talks at the United Nations. The…

Asharq Al Awsat
Business Euro banknotes (Reuters)

Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro zone bond yields fell for a second straight day on Tuesday, hitting their lowest in almost two weeks after Iran raised the prospect of reopening the…

Asharq Al Awsat
Business General view of the Sharara oil field in Libya (Reuters)

Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

Libya's National Oil Corporation said on Tuesday that the Sharara-Zawiya crude loading pipeline closure has led to daily losses of about 130,000 barrels per…

Asharq Al Awsat
Business FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

Sources: Saudi Arabia Restarts East-West Oil Pipeline

Saudi Arabia has restarted operations at its East-West Pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday, three sources briefed…

Asharq Al Awsat
Business European Commissioner for Trade and Economic Security Maros Sefcovic gives a press statement on EU-Philippines trade relations at the European Commission in Brussels, Belgium, 22 September 2026. EPA/OLIVIER HOSLET

EU Strikes New Free Trade Deal with the Philippines

The European Union and the Philippines announced a new free trade deal on Tuesday in the latest bilateral agreement struck by Brussels as it seeks to diversify…

Asharq Al Awsat
Business The King Abdullah Financial District (KAFD) in Riyadh

BlackRock: Saudi Arabia Accounts for More Than 60% of Capital-Raising in the Region

Saudi Arabia is leading fundraising in the region, accounting for over 60% of all Middle East-based funds closed since 2015, a sign of the Kingdom's growing…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: Flames and smoke rise from the Greek-flagged oil tanker Sounion, which has been on fire since August 23, after an attack by Houthi militants, on the Red Sea, September 12, 2024 in this handout image. EUNAVFOR ASPIDES/Handout via REUTERS

Oil Prices Climb after Declining for 4 Consecutive Sessions

Oil prices gained on Tuesday after declining for four consecutive sessions as investors awaited developments on potential US-Iran talks at the United Nations…

Asharq Al Awsat
Business FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Binance Reportedly Under US Scrutiny Over Possible Iran Sanctions Violations

US federal prosecutors are investigating whether Binance violated sanctions on Iran by failing to prevent certain trading activity on its platform, Bloomberg…

Asharq Al Awsat (Washington)
Business 01 November 2009, US, Washington: The logo of the World Bank is seen at the headquarters in Washington. (dpa)

World Bank, IMF Back Changes to Debt Framework for Poor Countries

The World Bank and International Monetary Fund said on Monday that both their executive boards had approved proposed reforms of their joint framework for…