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 The meetings were held on the sidelines of the ninth edition of the Future Investment Initiative (FII9) Conference in Riyadh. SPA

Saudi Industry Minister Discusses Joint Opportunities in High-Value Industries with Global Companies

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held meetings with leaders of several global companies specializing in advanced…

Asharq Al Awsat (Riyadh)
Business United States Secretary of the Treasury Scott Bessent speaks to reporters outside the West Wing of the White House in Washington, DC, USA, 22 October 2025. EPA/AARON SCHWARTZ / POOL

Bessent to FT: China Made a 'Mistake' With Rare-earth Controls

China's decision to impose export controls on rare earths was a "mistake" and drew attention to Beijing's ability to use them as a coercive tool, US Treasury…

Asharq Al Awsat
Business Federal workers, including Transportation Security Administration (TSA) officers and air-traffic controllers, line up to receive food parcels at Newark Liberty International Airport as the workers have been impacted by the government shutdown on October 27, 2025 in Newark, New Jersey. (Getty Images/AFP)

Air Traffic Control Absences Surge, Hitting Almost Half of Major US Airports

Nearly 50% of the 30 busiest US airports faced shortages of air traffic controllers, the Federal Aviation Administration said on Friday, leading to flight…

Business Naif Al-Atawi, Chief Executive Officer of Arabian Dyar for Real Estate Development, speaks to Asharq A-Awsat. (Turki Al-Agili)

Arabian AlDyar Eyes Saudi Listing, Signs Google Partnership

Naif Al-Atawi, Chief Executive Officer of Arabian Dyar for Real Estate Development, said the company is studying the possibility of going public on Saudi…

Abeer Hommadi (Riyadh)
Business Delta Air Lines CEO Ed Bastian speaks at a session during the Future Investment Initiative conference (Asharq Al-Awsat)

Delta CEO: Atlanta-Riyadh Route Links Two Dynamic Economies

Delta Air Lines Chief Executive Ed Bastian said that launching direct flights between Atlanta and Riyadh marks a strategic step that will open a new air…

Mosaed al-Zayani (Riyadh)
Business The announcement was made during the 25th General Assembly of INTOSAI, held in Sharm El-Sheikh. (SPA)

Saudi Arabia Assumes Chairmanship of INTOSAI

Saudi Arabia solidified on Friday its global leadership in public financial auditing and accounting by winning the chairmanship of the International…

Business A panel discussion at FII in Riyadh. (Asharq Al-Awsat)

Antaris Announces Partnership with Saudi Excellence to Advance Space Capabilities in the Kingdom

Antaris, the leading AI-driven software platform for the design, simulation, and operation of satellite constellations and space missions, announced on Friday…

Fatehelrahman Yousif (Riyadh)
Business This handout photo from APEC 2025 KOREA via Yonhap taken and released on October 31, 2025 shows China's President Xi Jinping attending a session of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Gyeongju. (AFP photo / APEC 2025 Korea via Yonhap / Handout)

China's Xi Holds Court at APEC Summit After Trump Trade Truce 

China's Xi Jinping took center stage at an annual gathering of Pacific Rim leaders in South Korea on Friday, meeting Canadian and Japanese counterparts after…

Business A worker takes a rest on a construction site near the capital's tallest skyscraper China Zun Tower and other office buildings at the central business district, in Beijing, Monday, Oct. 27, 2025. (AP)

China Factory Activity Shrinks for Seventh Month in October, PMI Shows 

China's factory activity shrank for a seventh month in October, an official survey showed on Friday, suggesting the need for more stimulus to boost domestic…

Business FILE PHOTO: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo

Oil Heads for Third Monthly Decline as Strong Dollar, Ample Supply Weigh

Oil prices eased on Friday, heading for a third consecutive monthly decline, as a stronger US dollar and weak China data capped gains while rising supply from…

Asharq Al Awsat
Business PIF and JLL sign MoU to strengthen Saudi real estate collaboration. (SPA)

PIF and JLL Sign MoU to Strengthen Saudi Real Estate Collaboration

The Public Investment Fund (PIF) and Jones Lang LaSalle Saudi Arabia Company Limited (JLL) signed on Thursday a memorandum of understanding (MoU) to promote…

Asharq Al Awsat
Business Public Investment Fund (PIF) Governor Yasir Al-Rumayyan speaks during his opening address at the conference (Asharq Al-Awsat)

As FII Ends, Riyadh Emerges as Global Lab Steering the Economy

The 2025 Future Investment Initiative (FII) wrapped up in Riyadh with a global consensus taking shape: Saudi Arabia has moved beyond the role of host to become…

Hala Saghbini (Riyadh)
Business Richard Attias, Chairman of the Executive Committee and Acting CEO of the Future Investment Initiative Institute (official website)

Saudi Arabia Wraps Up FII Summit Spotlighting Global Economic Future

The closing sessions of the ninth edition of the Future Investment Initiative (FII) showcased the accelerating growth of Saudi Arabia’s investment landscape,…

Asharq Al Awsat (Riyadh)
Business The crop is seen in a barley field at a farm near Moree, an inland town in New South Wales, Australia October 27, 2020. Picture taken October 27, 2020. REUTERS/Jonathan Barrett/File

Türkiye Buys Estimated 250,000 Tons Feed Barley in Tender

Türkiye state grain board TMO has bought about 250,000 metric tons of animal feed barley in an international tender on Thursday, European traders said. The…

Asharq Al Awsat
Business GASTAT released on Thursday its flash estimates for the Kingdom's real GDP for the third quarter of 2025

Saudi Real GDP Surges 5% in Q3 2025

Saudi Arabia’s General Authority for Statistics (GASTAT) released on Thursday its flash estimates for the Kingdom's real GDP for the third quarter of 2025,…

Asharq Al Awsat (Riyadh)
Business FILED - 05 May 2025, United Kingdom, Sheffield: The logo of the  British multinational universal bank Barclays seen outside its offices in Sheffield. Photo: Mike Egerton/PA Wire/dpa

Al-Sarhan to Asharq Al-Awsat: Barclays Returns to Riyadh ‘at the Right Moment’

Mohammed Al-Sarhan, who has recently joined as Independent Non-Executive Chairman of the Board for Barclays' Saudi Arabia franchise, has said that the return…

Mosaed al-Zayani (Riyadh)
Business Saudi Minister of Economy and Planning Faisal Alibrahim met with Minister of Economic Affairs of Finland Sakari Puisto. (SPA)

Saudi Economy Minister Meets with Finnish Minister of Economic Affairs

Saudi Minister of Economy and Planning Faisal Alibrahim met with Minister of Economic Affairs of Finland, Sakari Puisto, on the sidelines of the ninth edition…

Asharq Al Awsat
Business The final day of the 9th FII summit held in Riyadh is dubbed “investment day." Asharq Al-Awsat

‘Investment Day’ at FII Kicks Off in Riyadh

The third and final day of the 9th Future Investment Initiative (FII) summit held in Riyadh is dubbed “investment day” where deals are expected to be reached. …

Asharq Al Awsat (Riyadh)
Business AFP_Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney

Gold Demand Hit Records as Price Soared: Industry Data

Demand for gold hit a record high in the third quarter as the precious metal's price hit all-time highs on geopolitical unrest, industry data showed Thursday. …

Asharq Al Awsat
Business Winston Cheng, Chief Financial Officer of Lenovo (Photo: Turky Alagili)

Lenovo Nears Completion of One of its Largest and Most Advanced Global Factories in Saudi Arabia

Lenovo has announced that it is close to completing one of its largest and most advanced manufacturing facilities worldwide in the Saudi capital Riyadh, as…

Abeer Hommadi (Riyadh)
Business The US government shutdown enters its 30th day on Thursday, putting a scheduled GDP data release on ice along with other economic reports this month. DANIEL HEUER / AFP/File

US Economy in the Dark as Government Shutdown Cuts off Crucial Data

US policymakers, financial institutions and business owners have been flying blind for almost a month as a government shutdown has stopped the release of…

Asharq Al Awsat
Business President Donald Trump, left, and Chinese President Xi Jinping, look at each other after their summit meeting at Gimhae International Airport Jinping in Busan, South Korea, Thursday, Oct. 30, 2025. (AP Photo/Mark Schiefelbein)

China Agrees to One-year Rare Earth Export Deal, Issue 'Settled' Says Trump

China has agreed to keep rare earth exports flowing to the world as part of a one-year agreement, President Donald Trump said on Thursday shortly after meeting…

Asharq Al Awsat
Business Al-Rumayyan speaks at a session during the Future Investment Initiative conference (Asharq Al-Awsat)

Al-Rumayyan: PIF to Reach $1 Trillion in Assets by Year-end

Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund (PIF), chairman of Saudi Aramco, and chairman of the board of trustees of the Future…

Asharq Al Awsat (Riyadh)
Business Panel discussion attended by Investment Minister on sidelines of FII conference (Asharq Al-Awsat)

FII Forum Focuses on Harnessing AI to Reshape Global Landscape

Artificial intelligence dominated discussions on the second day of the Future Investment Initiative (FII) conference in Riyadh, held under the patronage of the…

Abeer Hommadi (Riyadh) Ayat Nour