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

Indian Oil Corp Will Not Completely Avoid Russian Crude Purchases, Exec Says

Indian Oil Corp, the country's top refiner, will not completely discontinue buying Russian crude, a top company executive said on Tuesday. "We are absolutely…

Asharq Al Awsat
Business Yasir Al-Rumayyan, head of the Public Investment Fund, Saudi Arabia's influential sovereign wealth fund, addresses the opening ceremony of the Future Investment Initiative, in Riyadh on October 28, 2025. (Photo by Fayez Nureldine / AFP)

Rumayyan: $250 Billion Worth of Deals Sealed by the FII over Nine Years

The sessions of the ninth edition of the Future Investment Initiative (FII9) conference officially commenced on Tuesday at the King Abdulaziz International…

Asharq Al Awsat
Business A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 

Future Investment Initiative: From ‘Davos in the Desert’ to a Platform for Untangling Global Crises

The annual Future Investment Initiative (FII) is evolving from an investment forum into a powerful geoeconomic and diplomatic platform. In the midst of…

Hala Saghbini (Riyadh)
Business FILE PHOTO: A man walks in front of the headquarters of Lukoil in Sofia July 27, 2011. REUTERS/Stoyan Nenov/File Photo

Russia's Lukoil Says It Plans to Sell International Assets Due to Western Sanctions

Russia's second-largest oil producer, Lukoil, said on Monday it would sell its international assets following sanctions over Ukraine announced last week by the…

Asharq Al Awsat
Business  The roundtable is an extension of the growing investment cooperation between the two countries in recent months - SPA

Saudi-Syrian Roundtable Explores New Investment Opportunities in Priority Sectors

A high-level Saudi-Syrian roundtable meeting was held in Riyadh on Monday to discuss challenges, develop practical solutions for the rapid activation of…

Asharq Al Awsat
Business A view shows oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/File Photo

Oil Steadies as US-China Trade Deal Hopes Counter Demand Concerns

Oil prices recovered from early losses on Monday as optimism over a trade deal framework between the US and China countered concerns about weak demand for…

Asharq Al Awsat
Business FILE PHOTO: Gold bars are displayed at a gold jewelry shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma/File Photo/File Photo

Gold Falls as Potential US-China Trade Deal Dents Safe-haven Demand

Gold prices fell nearly 2% Monday, as hopes of easing US-China trade tensions lifted risk appetite for equities, while investors awaited major central bank…

Asharq Al Awsat
Business Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail delivers a speech at the World PropTech Summit 2025 in Riyadh (General Real Estate Authority)

Saudi Arabia Moves to Integrate Stablecoins, Expand Real Estate Funds

Saudi Arabia is taking steps to strengthen its global position in investment and finance by integrating stablecoins into its financial system and expanding the…

Asharq Al Awsat (Riyadh)
Business People are seen at last year's edition of the conference. (AFP)

Ninth FII Conference Launches Economy of the Future from Riyadh

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the ninth edition of the Future Investment Initiative (FII)…

Fatehelrahman Yousif (Riyadh)
Business Saudi Investment Minister Khalid Al-Falih speaks at the Fortune Global Forum 2025 in Riyadh on Sunday. (Saudi Ministry of Investment)

Saudi Economy Grows to $1.3 Trillion, Attracts 675 Regional Headquarters

Saudi Arabia’s economy has doubled in size since the launch of Vision 2030, expanding from $650 billion to approximately $1.3 trillion. At the same time, the…

Ayat Nour (Riyadh)
Business Christine Lagarde, President of the European Central Bank, attends a "Debate on the Global Economy: Shaping Economic Policies Amid a Shifting Global Landscape" during the IMF/World Bank annual meetings at the IMF headquarters in Washington, DC,  on October 16, 2025. (Photo by Brendan SMIALOWSKI / AFP)

ECB to Hold Interest Rates Steady with Inflation Subdued

The European Central Bank is expected to hold interest rates steady this week for its third straight meeting, with inflation under control and the long…

Asharq Al Awsat
Business Riyadh Air operated its inaugural flight to London Heathrow Airport (LHR) on Sunday. (SPA)

Riyadh Air Launches Inaugural Flight to London Heathrow Airport

Riyadh Air operated its inaugural flight to London Heathrow Airport (LHR) on Sunday, reflecting the new national airline’s ambition to reach more than 100…

Asharq Al Awsat
Business The King Abdulaziz Port in Dammam. (SPA)

GASTAT: Saudi Arabia’s Non-Oil Exports Rise by 5.5% in August 2025

Saudi Arabia’s non-oil exports, including re-exports, recorded an increase of 5.5% in August 2025 compared to the same month of 2024, according to the…

Business Saudi Minister of Municipalities and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majed Al-Hogail at the launch of the summit in Riyadh. (SPA)

Saudi Housing Minister Patronages Launch of Global Proptech Summit 2025

Saudi Minister of Municipalities and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majed Al-Hogail patronized on Sunday…

Business A view of Riyadh, Saudi Arabia. (SPA)

Ninth Future Investment Initiative Conference to Kick off in Riyadh on Monday

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the ninth edition of the Future Investment Initiative (FII9)…

Business US Treasury Secretary Scott Bessent looks on as he speaks to the media, following the trade talks between the US and China, in Kuala Lumpur, Malaysia October 26, 2025. (Reuters)

Bessent Says US, China Reach Framework Deal on Rare Earths, Trump’s Tariff Threat

US Treasury Secretary Scott Bessent said on Sunday he has reached a "very substantial framework" with Chinese Vice Premier He Lifeng that will avoid 100% US…

Business A street vendor carries bouquets of flowers for sale in Hanoi on October 22, 2025. (AFP)

US, Vietnam Agree to Boost Trade, Tariffs on Some Vietnamese Goods May Be Removed

The United States and Vietnam will finalize a trade agreement in the coming weeks that will see reciprocal tariffs set at 0%-20%, the White House said on…

Business The US and Canada flags flutter next to the Blue Water Bridge border crossing in Point Edward, Ontario, on October 24, 2025. (AFP)

Trump Threatens Canada with 10% Extra Import Tax for Not Pulling Down Anti-Tariffs Ad Sooner

President Donald Trump said on Saturday that he plans to hike tariffs on imports of Canadian goods by an extra 10% because of an anti-tariff television ad…

Business US President Donald Trump speaks to reporters aboard Air Force One en route to Asia, October 25, 2025. REUTERS/Evelyn Hockstein

Trump Reverses Biden-era Rules on Copper Smelters

US President Donald Trump on Friday reversed a Biden-era air pollution rule that had imposed stricter limits on emissions from copper smelters. The copper…

Asharq Al Awsat
Business President Donald Trump speaks to reporters aboard Air Force One en route to Asia, Friday, Oct. 24, 2025. (AP Photo/Mark Schiefelbein)

Trump Says he's Willing to Reduce Tariffs on Brazil in Right Circumstances

US President Donald Trump said on Friday he would consider reducing tariffs on Brazil, under the right circumstances. Trump was speaking on Air Force One…

Asharq Al Awsat
Business Saudi agricultural sector contributed $31.5 billion to the GDP in 2024 - SPA

Saudi Agricultural Sector Contributes $31.5 Billion to GDP

The Ministry of Environment, Water and Agriculture revealed that the agricultural sector contributed $31.5 billion to the GDP in 2024, with total agricultural…

Asharq Al Awsat
Business Biban Forum to Announce $2B in Launches, Agreements to Fuel SME Growth

Biban Forum to Announce $2B in Launches, Agreements to Fuel SME Growth

The Small and Medium Enterprises General Authority (Monsha'at) announced that Biban Forum 2025 in November will unveil $2 billion in launches and local and…

Asharq Al Awsat
Business File: Kevin Pollard ties down a 15,000-pound undersea cable for transportation at Dulles International Airport in Virginia, June 8, 2009. REUTERS

Syria Signs Landing Deal for First International Submarine Cable with Medusa

Syria's telecommunications ministry has signed an agreement for the landing of the first international submarine cable to the country with Barcelona-based…

Asharq Al Awsat
Business Pakistan International Airlines Resumes UK Flights after 5-year Ban

Pakistan International Airlines Resumes UK Flights after 5-year Ban

State-run Pakistan International Airlines resumed flights to the United Kingdom on Saturday for the first time in five years following the lifting of a ban…