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 A Lenovo factory (the company’s website)

Lenovo: Partnership with ALAT to Add $10 Billion to Saudi Economy by 2030

Following the establishment of a factory by Lenovo in Riyadh through a $1 billion partnership with Alat, a company affiliated with the Public Investment Fund,…

Abeer Hommadi
Business Donald Trump and Crown Prince Mohammed bin Salman during the US president’s visit to Saudi Arabia in May 2025 (Bandar Al-Galoud)

US-Saudi Business Council Chief: Crown Prince’s Visit to Washington Will Accelerate Strategic Partnership

Saudi Crown Prince Mohammed bin Salman’s visit to the United States comes at a pivotal moment, as US-Saudi relations gain renewed momentum driven by the…

Hala Saghbini (Riyadh)
Business India and the United States remain in talks, despite disagreements over a range of issues including agricultural trade and the Russian oil purchases. PHOTO: REUTERS

India Strikes US Gas Deal Under Trump Pressure

India said Monday it had signed a "significant" deal that will see the United States supply nearly 10 percent of the Asian giant's liquefied petroleum gas (LPG…

Asharq Al Awsat
Business Aerial photo of Oxagon (Oxagon website)

Saudi Arabia's Oxagon Signs Land Lease with AHG for Industrial Gases Facility

Oxagon, the reimagined industrial city of NEOM, announced on Sunday the signing of a land lease agreement with Abdullah Hashim Industrial Gases & Equipment Co…

Asharq Al Awsat (Riyadh)
Business Autumn foliage is reflected in the River Thames, with Windsor Castle behind, in Windsor, Britain, October 22, 2025. REUTERS/Toby Melville

UAE Real Estate Developer Arada to Acquire 80% of London Riverfront Development

United Arab Emirates real estate developer Arada will acquire a majority stake in London's Thameside West mixed-use development, it said in a statement on…

Asharq Al Awsat
Business Airbus logo is seen in this illustration taken, March 10, 2025. REUTERS/Dado Ruvic/Illustration

Airbus Says Middle East Regional Aircraft to More Than Double by 2044

Airbus expects the Middle East's regional aircraft fleet to more than double to 3,700 planes by 2044, an official said on Sunday. The European planemaker…

Asharq Al Awsat
Business Lebanon ranks 82nd globally in the 2024 Government AI Readiness Index (Lebanon AI Conference)

Gulf Leadership in Artificial Intelligence Spurs Lebanon’s Private Sector

Lebanon is joining the global artificial-intelligence wave, albeit with limited resources and mostly private initiatives, at a time when Gulf states are…

Ali Zeineddine (Beirut)
Business FILED - 10 January 2017, US, Detroit: A Hyundai logo is seen at the North American International Auto Show (NAIAS) in Detroit, Michigan. Photo: Uli Deck/dpa

Hyundai Motor Announces $86 Bln Investment in South Korea after US Trade Deal

Hyundai Motor Group will invest 125.2 trillion won ($86.47 billion) in South Korea from 2026 to 2030, the automaker said on Sunday after Seoul finalized a…

Asharq Al Awsat
Business FILE PHOTO: A farmer tends wheat at a field in Giza, Egypt, April 18, 2025. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt Targets 5 Million Tons of Local Wheat Next Year, Seeking Self-sufficiency

Egypt has targeted procurement of five million metric tons of local wheat next season as it moves away from being one of the world's top wheat importers to…

Asharq Al Awsat (Cairo)
Business  A man pushes a hand truck loaded with plantains through La Candelaria neighborhood in Caracas on November 13, 2025. (AFP)

Return to Bad Days of Hyperinflation Looms in Venezuela

Venezuelans are grappling with political and economic chaos, a mass population exodus and fears of a US military attack. Now, their wallets are ever thinner as…

Business In this photo illustration, coffee beans are displayed on November 13, 2025 in San Anselmo, California. (Getty Images/AFP)

Trump Cuts Tariffs on Beef, Coffee and Other Foods as Inflation Concerns Mount

US President Donald Trump on Friday rolled back tariffs on more than 200 food products, including such staples as coffee, beef, bananas and orange juice, in…

Business  Boxes of imported Italian pasta are seen on shelves, Tuesday, Nov. 11, 2025, in Detroit. (AP)

Aficionados Fret as Trump Moves to Make Pasta Great Again

Steel: 50%. Copper: 50%. Cars: up to 25%. But an even bigger Trump-era levy looms: 107 % on Italian pasta. Mamma mia. It started with the US Commerce…

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

Gold Falls as Fed Cut Hopes Fade after Hawkish Fed Comments

Gold prices reversed earlier gains on Friday as hawkish comments from US Federal Reserve officials clouded prospects for a December rate cut, although they…

Asharq Al Awsat
Business The multi-axis executive program establishes a shared vision for a comprehensive tourism strategy - SPA

Syria, Arab Tourism Organization Sign Program to Boost Tourism and Investment

The Syrian Ministry of Tourism and the Arab Tourism Organization (ATO) signed an executive program yesterday at the ATO's headquarters in Jeddah. The…

Asharq Al Awsat
Business The agreement outlines several key areas of collaboration, including the exchange of expertise and information - SPA

Makkah Chamber Signs Deal to Boost Innovation, Vision 2030 Talent Empowerment

The Makkah Chamber signed a memorandum of cooperation with a specialized national company to bolster partnerships in innovation, entrepreneurship, and training…

Asharq Al Awsat
Business The destination will feature a diverse range of entertainment experiences - SPA

SEVEN Entertainment Destination Set to Revolutionize Leisure Experiences in Jazan

Work is intensifying on the SEVEN destination entertainment project in Jazan, with the over SAR1.3 billion venture now nearing its final stages and beginning…

Asharq Al Awsat
Business The Saudi energy minister participating in the Future Investment Initiative conference (Asharq Al-Awsat) 

IEA Steps Back as Saudi Vision Prevails on Oil Realities

After four years of debate, the International Energy Agency (IEA) has issued a pivotal retreat from its hardline projections on “peak oil,” effectively…

Hala Saghbini (Riyadh)
Business Inflation Rate in Saudi Arabia Reaches 2.2% in October 2025

Inflation Rate in Saudi Arabia Reaches 2.2% in October 2025

The General Authority for Statistics (GASTAT) reported that the annual inflation rate of the Consumer Price Index (CPI) in Saudi Arabia was 2.2% in October…

Asharq Al Awsat
Business International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a meeting with South Korean President Lee Jae Myung on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju on October 31, 2025. (Photo by JUNG YEON-JE / POOL / AFP)

IMF Sees Signs of US Economic Strain but Lack of Data Due to Shutdown Clouds Picture

The International Monetary Fund is seeing signs of strain in the US economy with fourth-quarter growth likely decelerating from previous forecasts, but a lack…

Asharq Al Awsat
Business An aerial view shows the town of Myrnohrad, Ukraine in this screengrab from a video released November 12, 2025 and obtained by REUTERS.

IMF to Start Mission to Ukraine Soon, Stresses Need for Anti-corruption Efforts

The International Monetary Fund will soon begin a staff mission to Ukraine to discuss its financing needs and a potential new lending program, spokesperson…

Asharq Al Awsat
Business The Red Sea destination currently includes nine luxury hotels welcoming guests, in addition to the exclusive Thuwal Private Resort off the coast of Jeddah - SPA

First Direct European Flight Lands at Red Sea International Airport

Red Sea Global announced the arrival of the first direct European flight to Red Sea International Airport, marking a new strategic milestone in the development…

Asharq Al Awsat
Business (FILES) Shoppers walk along Regent Street in London on August 15, 2025. (Photo by HENRY NICHOLLS / AFP)

UK Economic Gloom Deepens Before Budget

Britain's economy slowed in the third quarter, official data showed Thursday, dealing another blow to the Labour government ahead of its annual budget. …

Business FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen inside its headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/File Photo

OPEC: IEA’s Reversing of its ‘End of Fossil Fuel Era’ Forecast is ‘Rendezvous with Reality’

The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that the International Energy Agency (IEA) has made a “rendezvous with…

Asharq Al Awsat (Vienna)
Business FILED - 20 March 2023, Pforzheim: A gold bar weighing 12.5 kilograms is placed on gold granules at Agosi AG in Pforzheim. Photo: Uli Deck/dpa

Gold Extends Rise after Trump Signs Deal to Lift Shutdown

Gold rose for a fifth straight session on Thursday to hit its highest in more than three weeks, buoyed by expectations that the US government reopening will…

Asharq Al Awsat