Business

Gold Rallies as Dollar, Treasury Yields Soften after US Midterm Results

Business Gold chips displayed at a state-owned gold retail store in Surabaya, East Java (AFP)

Gold Rallies as Dollar, Treasury Yields Soften after US Midterm Results

Gold climbed to its highest level in over two weeks on Thursday as the fallout from the US midterm election results rippled through the global financial and…

Asharq Al Awsat
Business Hong Kong stocks rallied more than three percent on a broadly healthy day for Asian markets. Leung Man Hei / AFP

Tech Hit by New AI Worries on Positive Day for Most Markets

Tech firms tumbled Thursday as investors contemplated the outlook for the AI boom after Democrats swept the US midterms, partly on the back of growing anger…

Asharq Al Awsat
Business Türkiye is rapidly expanding its renewable energy capacity. But as host of COP31, the country faces growing pressure to match its clean energy ambitions with a clear commitment to phase out fossil fuels. Yasin AKGUL / AFP

Türkiye Showcases Renewables Surge, but Leaves Coal Intact

On a windy hillside about an hour's drive northwest of Istanbul, the Catalca power plant was one of Türkiye's first large-scale wind farms and has been feeding…

Asharq Al Awsat
Business Officials from the General Organization for Social Insurance at an earlier meeting with businessmen and businesswomen at the Riyadh Chamber (SPA)

Saudi Arabia Offers 100% Social Insurance Debt Waiver to Businesses That Have Exited Market

Saudi Arabia's General Organization for Social Insurance (GOSI) has made businesses that have ceased operations and exited the Saudi market eligible for a 100%…

Bandar al-Mosalam (Riyadh)
Business A general view shows Ras Tanura's oil production plant near Dammam in Saudi Arabia's Eastern Province (AFP)

From Aramco's Profits to State Budget Revenue: How Do Oil Proceeds Reach Government Coffers?

Saudi Aramco's financial results and Saudi Arabia's third-quarter budget performance report, released on the same day, revealed a divergence between the…

Hala Saghbini (Riyadh)

Business FILE- A view of the control room at the European Space Agency in Darmstadt, Germany, on Sept. 30, 2016.(AP Photo/Michael Probst, File)

European Nations Agree 30% Boost in Three-year Space Budget

European nations agreed on Thursday to increase spending on space over the next three years by about 30% to 22.1 billion euros, part of an effort to try to…

Asharq Al Awsat
Business A simulated image of the Masar project developed by Umm Al Qura for Development and Construction (SPA). 

Saudi Sovereign Fund Sells $253 Million Stake in Masar

The Saudi Public Investment Fund (PIF) announced on Wednesday the completion of the sale of part of its stake in Umm Al Qura for Development and Construction,…

Asharq Al Awsat (Riyadh)
Business Fahd Hamidaddin, CEO and board member of the Saudi Tourism Authority, at the International Exhibitions and Conferences Summit on Wednesday (Asharq Al-Awsat). 

Saudi Tourism Chief: Kingdom Now Outpaces Las Vegas With Over 11,000 Annual Events

Saudi Arabia is now hosting more than 11,000 events each year - surpassing global entertainment centers such as Las Vegas - according to Fahd Hamidaddin, CEO…

Asharq Al Awsat (Riyadh)
Business Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London (Reuters)

Gold Eases from Near Two-week High as Investors Book Profits

Gold edged lower on Thursday on profit-taking after it hit a near two-week high in the previous session, while investors weighed the possibility of a December…

Asharq Al Awsat
Business The Saudi Ports Authority has signed an agreement with Hizone Logistics to establish a logistics park for container offloading and storage at King Abdulaziz Port in Dammam. (SPA)

Mawani, Hizone Logistics Sign SAR30 Million Deal to Establish Logistics Park in Dammam

The Saudi Ports Authority (Mawani) has signed an agreement with Hizone Logistics to establish a logistics park for container offloading and storage at King…

Asharq Al Awsat
Business This file photo taken on October 17, 2017 shows excess flammable gasses burning from gas flares at the Bai Hassan oil field, west of the multi-ethnic northern Iraqi city of Kirkuk. (AFP)

Operations Suspended at Major Iraq Gas Field Following Drone Attack

A drone attack prompted the suspension of operations at the Khor Mor gas field, one of the largest gas fields in Iraqi Kurdistan, field engineers said on…

Asharq Al Awsat
Business General Authority for Exhibitions and Conferences Fahd al-Rasheed at the opening of IMS25 (Asharq Al-Awsat)

Saudi Arabia Emerges Among Fastest Growing G20 Events Markets

Saudi Arabia is gearing up for what officials describe as a golden decade for business events, driven by unprecedented expansion in its exhibitions and…

Abeer Hommadi (Riyadh)
Business File photo of a police officer standing near a Moroccan national flag near the main stadium during preparations for the FIFA Club World Cup in Agadir, December 10, 2013. REUTERS/Amr Abdallah Dalsh

Patrick Drahi's Altice to Sell Majority Stake in Morocco's Intelcia

Patrick Drahi's Altice, a global telecommunications and media conglomerate, has agreed to sell its majority stake in Morocco's Intelcia, giving local partners…

Asharq Al Awsat
Business The event took place during MODON's participation in the 21st General Conference of the United Nations Industrial Development Organization (UNIDO) - SPA

MODON Signs Industrial and Logistics Contracts and MoUs with Investments Exceeding SAR8.8 Billion

Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the Saudi Authority for Industrial Cities and Technology Zones (MODON)…

Asharq Al Awsat
Business Executive Vice President of Technology and Innovation at Saudi Aramco Ahmad Al- Khowaiter. (Aramco)

Saudi Aramco Expands Global Footprint with New Paris Office and AI Focus 

Executive Vice President of Technology and Innovation at Saudi Aramco Ahmad Al- Khowaiter underlined on Tuesday the critical connection between artificial…

Business Saudi and Syrian officials during the signing ceremony. (SANA)

Syria and Saudi Arabia’s AJDAN Sign MoU to Establish Tourist Project in Damascus

The Syrian Investment Authority signed on Tuesday a memorandum of understanding (MoU) with the AJDAN Saudi real estate company to establish a tourism project…

Asharq Al Awsat (Damascus)
Business A plane prepares ahead of taking-off, after radar failure led to the suspension of outbound flights across the UK, at Heathrow Airport in Hounslow, London, Britain, July 30, 2025. (Reuters)

London Backs $64 Billion Plan to Expand Heathrow Airport 

Britain has backed Heathrow Airport's 49-billion-pound ($64 billion) expansion and upgrade plan as the basis for adding a new runway, choosing it over a…

Asharq Al Awsat (London)
Business The master plan for the new Abha International Airport is set to deliver a significant upgrade in capacity and passenger experience. (SPA)

Saudi Arabia’s Abha International Airport Ranks Third Globally for On-Time Performance 

Saudi Arabia’s Abha International Airport achieved a new global milestone, ranking third worldwide in on-time flight performance for October 2025, with an on…

Business The talks focused on exploring and identifying shared investment opportunities in promising areas. (SPA)

Saudi Industry Minister Holds Talks to Boost Industrial, Mining Cooperation with Friendly Nations 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held on Tuesday a series of bilateral meetings with counterparts from several brotherly and…

Business  Egyptian President Abdel Fattah al-Sisi meets Eni CEO Claudio Descalzi on Tuesday. (Egyptian presidency)

Egypt’s Sisi Meets Eni CEO to Discuss Energy Investments

Egyptian President Abdel Fattah al-Sisi met Eni CEO Claudio Descalzi to review the Italian group's investments in the African country and discuss new…

Business An Iranian woman puts a nozzle back after refuelling her car at a petrol station in Tehran, Iran, January 25, 2016. REUTERS/Raheb Homavandi/TIMA

Iran to Raise Fuel Prices Under Limited Conditions

Iran will raise the price of its heavily subsidised fuel under certain limited circumstances, the semi-official Tasnim news agency reported on Tuesday, as the…

Asharq Al Awsat
Business United States Navy aircraft carrier USS Dwight D. Eisenhower (CVN 69) approaches the Friendship Bridge during a Suez Canal transit in this picture taken April 2, 2021 and released by US Navy on April 3, 2021. (Reuters)

Maersk Vessels to Resume Transit via Suez Canal from the Start of December, Canal Authority Says

Maersk container ships will resume transit via the Suez Canal on a partial basis from the beginning of December prior to a full return, the Suez Canal…

Asharq Al Awsat
Business Saudi Telecom Company (stc) contributed around 80% of total profits during the first three quarters of 2025. (SPA)

Saudi Telecom Revenues Near $21 Billion in 2025

Saudi Arabia’s listed telecommunications companies posted strong financial results over the first nine months of 2025, supported by accelerated digital…

Mohammed al-Mutairi (Riyadh)
Business Small toy figurines are seen on representations of the Bitcoin virtual currency displayed in front of an image of China's flag in this illustration picture, April 9, 2019. (Reuters)

Bitcoin Mining in China Rebounds, Defying 2021 Ban

Bitcoin mining is quietly staging a comeback in China despite being banned four years ago, as individual and corporate miners exploit cheap electricity and a…

Business Saudi Minister of Investment Khalid Al-Falih spoke at the Global Industry Summit 2025. Asharq Al-Awsat

Al-Falih: Saudi Arabia More Competitive Due to Strategic Location, Economic Vision

Minister of Investment Khalid Al-Falih has said that Saudi Arabia is steadily advancing toward greater industrial competitiveness, thanks to its strategic…

Asharq Al Awsat (Riyadh)
Business Saudi Aramco Partners with Pasqal to Deploy Quantum Computer

Saudi Aramco Partners with Pasqal to Deploy Quantum Computer

Saudi Aramco in partnership with Pasqal, a global leader in neutral-atom quantum computing, have achieved a major breakthrough for the Middle East’s technology…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: The International Monetary Fund logo is seen outside the headquarters building in Washington, US September 4, 2018. REUTERS/Yuri Gripas//File Photo

IMF Anticipates Bahrain Economic Growth to Rise to 2.9%

An International Monetary Fund (IMF) mission concluded a visit to Bahrain, saying that growth in the country is anticipated to rise to 2.9 percent in 2025. …

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

Council of Economic Development Highlights Continued Strong Growth of Saudi Economy 

The Saudi Council of Economic and Development Affairs convened on Monday for an overview of the national economy across its various sectors. The council…

Asharq Al Awsat (Riyadh)
Business A night view of Riyadh, Saudi Arabia. (Reuters)

Riyadh to Host MOMENTUM 2025 in December

Under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister and Chairman of the Board of Directors of the National…