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…

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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 A view of the Syrian central bank in Damascus, Syria, January 12, 2025. (Reuters)

Syria Sends First SWIFT Message to New York Fed, Central Bank Governor Says

The Syrian central bank on Thursday sent its first Swift message to the Federal Reserve Bank of New York, central bank Governor AbdulKader Husrieh told Reuters…

Asharq Al Awsat
Business A general view of Oman's capital Muscat. (Getty Images)

Oman Air to Look at Possible Narrow-body Fleet Order Early Next Year

Oman Air could potentially place an order for narrow-body jets early next year, the chief executive of the Gulf state carrier told Reuters, as it undergoes a…

Asharq Al Awsat
Business In this photograph taken on November 16, 2016, Pakistani technicians work at a power grid station in Faisalabad. (AFP/FILE)

ADB Approves $330m Loan to Upgrade Pakistan Power Grid

Pakistan will receive a $330 million loan to upgrade its energy grid, which will help hydropower reach major cities, the Asian Development Bank said Thursday. …

Asharq Al Awsat
Business Printed Chinese and Japanese flags are seen in this illustration, July 21, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights

China Says Trade Cooperation with Japan Taken 'Great' Hit

Trade cooperation between China and Japan has taken a "great" hit following the recent remarks on Taiwan made by the Japanese prime minister, the Chinese…

Asharq Al Awsat
Business Saudi Investment Minister Khalid Al-Falih speaks at the forum in Washington on Wednesday. (Saudi-US Investment Forum)

Saudi-US Investment Forum Unveils Major Energy, Tech, Finance Deals

Washington hosted the Saudi-US Investment Forum on Wednesday, an event described as a strategic bridge marking a decade of shared growth and innovation between…

Heba El Koudsy (Washington)
Business The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)

Saudi Aramco Announces 17 MoUs and Agreements with Companies in the US

Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, announced on Wednesday 17 Memoranda of Understanding (MoUs) and agreements…

Business Prince Abdulaziz bin Salman shakes hands with the US Secretary of the Interior. Photo: X

Saudi-US Partnership to Secure Supply Chains for Uranium and Critical Minerals

Saudi Arabia and the United States have signed a Strategic Framework for Cooperation on the security, stability and sustainability of supply chains for uranium…

Asharq Al Awsat (Washington )
Business Flydubai Announces Deal with Boeing for 75 Planes Worth $13 Bn

Flydubai Announces Deal with Boeing for 75 Planes Worth $13 Bn

Low-cost airline flydubai said it signed Wednesday an agreement with Boeing for 75 737 MAX aircraft valued at $13 billion, a day after announcing a similar…

Asharq Al Awsat (Dubai)
Business 18 November 2025, US, Washington: Saudi Arabia's Crown Prince, Mohammed bin Salman attends a dinner at the White House with US President Donald Trump. Photo: -/Saudi Press Agency/dpa

Saudi-US Partnership Makes the Kingdom a Global AI Leader

Saudi Arabia and the United States have signed an artificial intelligence strategic partnership during Saudi Crown Prince Mohammed bin Salman’s visit to…

Asharq Al Awsat (Washington)
Business A man walks past the logo of Tadawul. (AFP)

US Institutions Expand Footprint in Saudi Financial Sector, Nearing a Third of Total Foreign Holdings 

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, arrived in Washington on Tuesday for talks with President Donald Trump and a Saudi-US…

Mohammed al-Mutairi (Riyadh)
Business 18 November 2025, US, Washington: Saudi Arabia's Crown Prince, Mohammed bin Salman, meets with US President Donald Trump at the White House in Washington. Photo: -/SPA/dpa

Minerals on Agenda at Saudi-US Washington Talks

Saudi Arabia is cementing its position as a rising global power in the market for critical minerals, declaring the sector the “third pillar” of its national…

Hala Saghbini (Riyadh)
Business US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)

US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

Former US officials predicted that the Saudi talks at the White House will focus on three main pillars that would pave the way for regional stability and…

Fatehelrahman Yousif (Riyadh)
Business PIF Governor Yasir Al-Rumayyan during a panel discussion at the Future Investment Initiative conference in Riyadh (Reuters). 

Saudi Sovereign Fund Expands Its US Footprint With Investments Exceeding $170 Billion

As the Public Investment Fund (PIF) expands its investments in the United States beyond $170 billion, a defining feature of the deepening strategic partnership…

Asharq Al Awsat
Business The Jeddah Port (General Ports Authority) 

Riyadh and Washington… Rising Investments and Diversifying Trade Flows

Economic relations between Saudi Arabia and the United States continue to gain renewed significance, particularly ahead of the anticipated visit of Saudi Crown…

Asharq Al Awsat (Riyadh)
Business The logos of 'flydubai' and 'Emirates' feature on displays at the Dubai Airshow, in Dubai, United Arab Emirates, November 17, 2025. REUTERS/Amr Alfiky

Flydubai Airline Announces Order of 150 Airbus Jets

Low-cost airline flydubai announced an order for 150 Airbus A321neo jets on Tuesday, more than doubling its fleet as it pursues an aggressive expansion plan. …

Asharq Al Awsat
Business Cityscape Global 2025 is being held in Riyadh under the theme "The Future of Urban Living." (SPA)

Cityscape Global 2025 Opens in Riyadh with over SAR161.2 Billion Agreements

Saudi Minister of Municipalities and Housing Majed Al-Hogail inaugurated Cityscape Global 2025 in Riyadh on Monday under the theme "The Future of Urban Living,…

Business The Damascene Sword Monument at Umayyad Square in Damascus, Syria, November 12, 2025. (Reuters)

IMF Sees Signs of Recovery in Syria, Plans Intensive Engagement

The International Monetary Fund said on Monday that Syria’s economy is showing signs of recovery and has prospects for improvement, after a visit of its team…

Business Iraqi Prime Minister Mohammed Shia al-Sudani attends an election rally for the Reconstruction and Development Coalition ahead of the upcoming Iraqi parliamentary elections in Najaf, Iraq, November 2, 2025. REUTERS/Alaa al-Marjani

Iraqi PM, Former Lukoil CEO Discuss Solutions after US Sanctions

Iraqi Prime Minister Mohammed Shia al-Sudani met with the former CEO of Russia's Lukoil to discuss ways of resolving disruptions to the oil company's…

Asharq Al Awsat
Business Abu Dhabi's ADIA to Sell 5% Stake in Qatar Telco Ooredoo

Abu Dhabi's ADIA to Sell 5% Stake in Qatar Telco Ooredoo

The Abu Dhabi Investment Authority will sell 160.5 million of its existing shares in Qatari telecommunications company Ooredoo, around half of its shareholding…

Asharq Al Awsat
Business People shop for gold ornaments at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Mumbai, India, October 22, 2022. REUTERS/Niharika Kulkarni

Gold Steadies After Sell-Off as Markets Await US Data

Gold held steady on Monday as investors awaited US economic data this week for clues on the Federal Reserve's interest rate trajectory after prices fell more…

Asharq Al Awsat
Business Oil pumpjacks and tanks are pictured in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol

Oil Prices Ease After Loadings Resume at Russian Export Hub

Oil prices dipped slightly on Monday as loadings resumed at Russia's Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit…

Asharq Al Awsat
Business The first shipment of Saudi Arabia’s grant to Syria’s energy sector  docked at the port of Banias. SANA

Saudi Arabia Delivers First Shipment of Crude Oil Grant to Syria

The first shipment of Saudi Arabia’s grant to Syria’s energy sector arrived on Sunday with a tanker carrying approximately 650,000 barrels of Saudi crude oil…

Asharq Al Awsat (Riyadh)
Business An oil field in Iraq. (AFP)

International Oil Firms Load First Kurdish Exports from Türkiye’s Ceyhan

International oil companies in Iraq's semi-autonomous Kurdistan region have loaded their first export cargo from Türkiye’s Ceyhan terminal, Gulf Keystone…

Asharq Al Awsat
Business European Commission President Ursula von der Leyen addresses the plenary on the 2028-2034 Multiannual Financial Framework at the European Parliament in Brussels, Belgium, Wednesday, Nov. 12, 2025. (AP Photo/Virginia Mayo)

EU's von der Leyen Says 3 Options or Combination Could Finance Ukraine

European Commission President Ursula von der Leyen said in a letter to European Union governments on Monday that there are three options for meeting Ukraine's…

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