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 Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Tunisian Minister of Economy and Planning Samir Abdelhafid meet in Riyadh. (SPA)

Saudi Arabia, Tunisia Discuss Strengthening Industrial Integration

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef met with Tunisian Minister of Economy and Planning Samir Abdelhafid on the sidelines of the…

Business Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade Majid Al-Qasabi addresses the forum on Sunday. (SPA)

Saudi-French Business Forum Opens in Riyadh

The Saudi-French Business Forum opened in Riyadh on Sunday, hosted by Saudi Minister of Commerce and Chairman of the Board of Directors of the General…

Business The 15-km marine bridge linking Safwa in Qatif Governorate with Ras Tanura (Saudi Projects). 

Saudi Arabia Opens One of Its Longest Marine Bridges to Boost Logistics, Economic Growth

Saudi Arabia’s Ministry of Transport has inaugurated a major new marine bridge in the Eastern Province, described as one of the longest in the Kingdom and the…

Asharq Al Awsat (Dammam)
Business The 21st General Conference of the United Nations Industrial Development Organization (UNIDO) is taking place in Riyadh. (Saudi Ministry of Industry).

Global Spotlight on Riyadh as Saudi Arabia Unveils 800 Investment Opportunities at UNIDO Summit

The Saudi capital has become the center of international attention as it hosts the 21st General Conference of the United Nations Industrial Development…

Asharq Al Awsat (Riyadh)
Business Angola this year celebrated 50 years since its independence from Portugal. Julio PACHECO NTELA / AFP

EU, Africa Leaders to Talk Trade and Minerals, as Ukraine Looms Large

European and African leaders gather in Angola Monday for a summit aimed at deepening economic and security ties that will serve as a backdrop to emergency…

Asharq Al Awsat
Business A salesperson shows a gold ring to customers at a jewellery showroom in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave

Gold Dips as Dollar Firms, Investors Weigh US Rate Cut Bets

Gold prices dipped for a third straight session on Monday as the dollar firmed near six-month highs and weighed on the yellow metal, while market participants…

Asharq Al Awsat
Business FILE PHOTO: A service truck drives past an oil well on the Fort Berthold Indian Reservation in North Dakota, November 1, 2014.  REUTERS/Andrew Cullen/File Photo

Oil Falls as Ukraine Peace Talks Edge toward a Solution

Oil prices slipped Monday, extending losses from last week, as Russia-Ukraine peace talks edged closer to a solution and the US dollar strengthened. Brent…

Asharq Al Awsat
Business The GE Vernova headquarters. (Asharq Al-Awsat)

GE Vernova: Saudi Manufacturing Is a Cornerstone of Our Global Network

Hisham Al Bahkali, President of GE Vernova in Saudi Arabia, said that the Kingdom today stands as a central pillar in the company’s global strategy for…

Mosaed al-Zayani (Riyadh)
Business Canada's Prime Minister Mark Carney speaks during a news conference following the APEC Summit in Gyeongju, South Korea, Saturday, Nov. 1, 2025. (Adrian Wyld/The Canadian Press via AP)

Canada Says It Will Resume US Trade Talks 'When Appropriate'

Canada will resume trade discussions with the United States "when it's appropriate," Canadian Prime Minister Mark Carney said on Sunday, noting he did not have…

Asharq Al Awsat
Business  22 November 2025, South Africa, Johannesburg: UK Prime Minister Keir Starmer speaks during an interview with Beth Rigby from Sky News on the sidelines of the G20 Summit in Johannesburg. (dpa)

Britain Unveils Critical Minerals Strategy to Cut Reliance on Foreign Supply

Britain on Saturday rolled out a critical minerals strategy designed to reduce dependence on foreign suppliers by 2035, with targets to source 10% of domestic…

Business File photo of Kuwait's skyscrapers (AFP)

S&P: Kuwait Upgraded to 'AA-/A-1+' on Reform Progress, Outlook Stable

Standard & Poor's Global Ratings said it raised its long- and short-term sovereign credit ratings on Kuwait to 'AA-/A-1+' from 'A+/A-1', with the outlook as…

Asharq Al Awsat
Business Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participates in the opening session of the G20 Leaders' Summit held in Johannesburg, Nov 22, 2025 - SPA

Saudi Arabia Backs WTO Reform and Supports a Fair, Transparent Global Trading System at G20 Summit

On behalf of Saudi Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Minister of Foreign Affairs Prince Faisal bin Farhan bin…

Asharq Al Awsat
Business AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

UAE to Invest $1 billion to Expand AI in Africa

The United Arab Emirates said on Saturday it will invest $1 billion to expand AI infrastructure and AI-enabled services across Africa, with the aim of helping…

Asharq Al Awsat
Business Tourists walk around Trocadero Square near the Eiffel Tower on a cold day in Paris, France, November 19, 2025. REUTERS/Sarah Meyssonnier

France Pushes for Deeper Economic Partnership with Saudi Arabia

A full agenda awaits Nicolas Forissier, France’s minister delegate for foreign trade, during his three-day visit to Saudi Arabia on November 21, a trip that…

Michel Abou Najm (Paris)
Business European Central Bank President Christine Lagarde delivers her keynote speech at Euro Finance Week, a weeklong annual financial conference in Frankfurt, Germany, November 21, 2025. REUTERS/Heiko Becker

Lagarde: EU Can Beat Trump’s Tariffs with Domestic Trade

The European Union can offset the impact of US trade tariffs if it knocks down some of its internal barriers, European Central Bank President Christine Lagarde…

Asharq Al Awsat (Frankfurt)
Business A view of an oil pump jack on the prairies near Claresholm, Alberta, Canada January 18, 2025. REUTERS/Todd Korol

Oil Extends Decline as US Presses for Russia-Ukraine Peace Deal

Oil prices fell on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace deal that could swell global supply…

Asharq Al Awsat
Business Monsha’at Signs Six MoUs at Saudi-US Investment Forum to Boost SME Innovation

Monsha’at Signs Six MoUs at Saudi-US Investment Forum to Boost SME Innovation

The Small and Medium Enterprises General Authority (Monsha’at) signed six memoranda of understanding (MoUs) with international partners—The BTL Group, National…

Asharq Al Awsat
Business ADNOC's Covestro Takeover Gets Final Regulatory Approval in Germany

ADNOC's Covestro Takeover Gets Final Regulatory Approval in Germany

Abu Dhabi state oil firm ADNOC and Germany's Covestro have received the final outstanding regulatory approval from the German economy ministry for their 14.7…

Asharq Al Awsat
Business FILE PHOTO: A salesman shows a gold necklace on display inside a jewelry showroom in Kolkata, India, October 18, 2024. REUTERS/Sahiba Chawdhary/File Photo

Gold Falls 1%, Poised for Weekly Loss as US Jobs Data Dims Rate-cut Hopes

Gold prices fell more than 1% on Friday and were set for a weekly decline after a robust US jobs report dampened expectations of a Federal Reserve rate cut…

Asharq Al Awsat
Business Pedestrians make their way through a shopping district in Tokyo, Japan November 21, 2025. REUTERS/Kim Kyung-Hoon

Japan OKs $135 Billion Stimulus Package to Help Revive its Sluggish Economy

Japan's Cabinet approved a 21.3 trillion yen ($135.4 billion) stimulus package Friday to help spur the economy through expansionary government spending and to…

Asharq Al Awsat
Business School students carry a huge Lebanese flag on the occasion of Lebanon's 82nd Independence Day anniversary to be celebrated on 22 November, outside the Parliament building in downtown Beirut, Lebanon, 20 November 2025. EPA/WAEL HAMZEH

International Finance Corporation Announces New Investments in Lebanon

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Thursday new investments and engagements to expand access to…

Ali Zeineddine (Beirut)
Business WASHINGTON, DC - NOVEMBER 19: Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia and US President Donald Trump stand for a photo with other participants at the US-Saudi Investment Forum at the Kennedy Center on November 19, 2025 in Washington, DC. Win McNamee/Getty Images/AFP

Saudi Crown Prince’s Washington Trip Signals Future-Focused Strategic Shift

Over an intensive 48 hours, Washington became the stage for launching a new phase in the strategic alliance between Saudi Arabia and the United States, an…

Hala Saghbini (Riyadh)
Business General view of Abu Dhabi, United Arab Emirates, January 3, 2019. Picture taken January 3, 2019. REUTERS/ Hamad I Mohammed/File Photo

Abu Dhabi Seeks Partners to Carry Out Infrastructure Projects Worth $54 Billion

Abu Dhabi is seeking partners to carry out infrastructure projects worth $54 billion over the next five years, and aims to double that amount by 2040, the head…

Asharq Al Awsat
Business The building housing Libya's oil state energy firm, the National Oil Corporation (NOC), is seen in Tripoli, Libya February 22, 2016. REUTERS/Ismail Zitouny

Libya Nears Final Stage of Oil Exploration Bid Round, NOC Says

Libya's National Oil Corporation said it is approaching the final stage of a public exploration bid round, with companies expected to submit offers and open…

Asharq Al Awsat