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 sun sets behind Milad Telecommunications Tower (C) and a row of electricity pylons in Tehran on October 20, 2025. (Photo by ATTA KENARE / AFP)

Iran Declares Major Lender Bankrupt

Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported Saturday, in a rare move in…

Asharq Al Awsat
Business A man rides his motorcycle past a big screen showing the logo of the Association of Southeast Asian Nations (ASEAN) in front of Malaysia's Petronas Twin Towers ahead of the 47th ASEAN Summit in Kuala Lumpur on October 23, 2025. (Photo by Mohd RASFAN / AFP)

Chinese, US Delegations Start Trade Talks in Kuala Lumpur

China and the United States began their latest round of trade talks in Malaysia on Saturday, Beijing's state media reported, ahead of a closely watched meeting…

Asharq Al Awsat
Business 'Zlas' extra virgin olive oil bottles are displayed at the laboratory of Mustapha Mtiraoui's oil mill, in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui

Tunisia Olive Oil Output to Hit Record 500,000 Tons in 2026

Tunisia's olive oil production this season is likely to increase by about 50% from last year to a record 500,000 tons, which will provide support to the…

Asharq Al Awsat
Business People stroll through Eminonu, a bustling commercial district by the Golden Horn in Istanbul, Türkiye, Saturday, Sept. 27, 2025. (AP) 

Türkiye's Stocks, Lira Rise After Court Tosses Case vs Opposition 

Türkiye's lira strengthened and stocks climbed after a court dismissed a case seeking the ouster of the main opposition leader and annulment of his party's…

Business  A vegetable cultivation farm in Saudi Arabia (SPA) 

Saudi Arabia Prepares to Export New Agricultural Products to Baghdad

Saudi Arabia is moving quickly to seize new export opportunities following a recent decision by Iraq’s Economic Ministerial Council to open the market for…

Bandar al-Mosalam (Riyadh)
Business A gold mine in Saudi Arabia (SPA)

Maaden Leads Gold Sector Expansion in Saudi Arabia with New Discoveries

Saudi Arabia is accelerating its efforts to expand the mining industry and position gold as a cornerstone of the national economy as part of Vision 2030,…

Abeer Hommadi (Riyadh)
Business (FILES) A picture taken on April 9, 2011 shows Caspian Stream tanker near the Russian LUKOIL ice-resistant fixed platform LSP-1, built at the Astrakhansky Korabel shipyard, intended to drill and operate wells and collect and pre-treat reservoir content at Korchagin's oil field in the Russian sector of the Caspian Sea some 180 km outside Astrakhan. (Photo by MIKHAIL MORDASOV / AFP)

Oil Steadies but Supply Fear Keeps it on Track for Weekly Gain

Oil prices were little changed on Friday, stabilizing after the previous day's surge and remaining on track for a weekly gain as fresh US sanctions on Russia's…

Asharq Al Awsat
Business US President Donald Trump meets with Canadian Prime Minister Mark Carney in the Oval Office of the White House in Washington, DC on October 7, 2025. (AFP)

Trump Says He’s Ending Trade Talks with Canada Over TV Ads 

President Donald Trump said late Thursday that he was ending “all trade negotiations” with Canada because of a television ad opposing US tariffs that he said…

Business Riyadh, Saudi Arabia (Asharq Al-Awsat)

Fortune Forum Cements Riyadh’s Role as Global Trade, Innovation Hub

International business leaders are turning their attention to Riyadh, where Saudi Arabia will host the Fortune Global Forum for the first time on October 26–27…

Asharq Al Awsat (Riyadh)
Business Men sort tomatoes at a wholesale vegetable market, as prices of various vegetables and fruits rose after Pakistan closed border crossings with Afghanistan following exchanges of fire, and a ceasefire deal was later agreed upon by the two nations, in Peshawar, Pakistan, October 23, 2025. REUTERS/Fayaz Aziz

Pakistan-Afghanistan Border Closures Push up Prices of Essentials

Border closures between Pakistan and Afghanistan have pushed up prices of essential goods in both nations, with tomatoes now costing five times more in…

Asharq Al Awsat
Business A logo of Türkiye's Central Bank is pictured at the entrance to its headquarters in Ankara, Türkiye  February 8, 2024. REUTERS/Cagla Gurdogan

Türkiye Cenbank Slows Easing with 100-point Cut, Flags Inflation Risk

Türkiye's central bank slowed its easing cycle with a 100 basis-point cut to 39.5% in its policy interest rate on Thursday, as expected, flagging renewed…

Asharq Al Awsat
Business FILE PHOTO: The logo of the state energy company Sonatrach is pictured at the headquarters in Algiers, Algeria November 25, 2019.  REUTERS/Ramzi Boudina/File Photo

Algeria's Sonatrach Resumes Exploratory Drilling in Libya

Algeria's oil and gas firm Sonatrach resumed its exploratory drilling in Libya's Ghadames basin in mid-October, Tripoli's National Oil Corp (NOC) said in a…

Asharq Al Awsat
Business Al Jasser addressed the 2025 Global Sukuk Summit in London, themed “Capitalizing on Sukuk Beyond Traditional Markets.” SPA

IsDB Group Chairman Opens Market at LSE to Celebrate €500 Million Green Sukuk Listing

Chairman of the Islamic Development Bank (IsDB) Group Dr. Mohammed Al Jasser has opened the market at the London Stock Exchange (LSE) to celebrate the listing…

Asharq Al Awsat (London)
Business A view shows branding at a Rosneft petrol station in Moscow on October 23, 2025. (Photo by Olesya KURPYAYEVA / AFP)

Oil Prices Surge 5% on Trump's Russian Crude Sanctions

World oil prices surged five percent Thursday after US President Donald Trump targeted Russia's key oil industry with new sanctions in a bid to end the war in…

Asharq Al Awsat
Business  Investors at the Saudi Business Center (Photo: Turki Al-Oqaili). 

Saudi Business Center: A One-Stop Gateway for Investors

“This experience is nothing like before. All the procedures are handled in one place, exactly what a businessman needs,” said investor Talal Al-Ammari with a…

Abeer Hommadi (Riyadh)
Business FILE PHOTO: An oil field is seen in Kirkuk, Iraq October 18, 2017. REUTERS/Alaa Al-Marjani/File Photo

Iraqi Kirkuk Crude Exports Set at 12 Cargoes in November

Iraq will load 12 cargoes of Kirkuk crude oil from Türkiye’s Ceyhan port in November, a loading program seen by Reuters shows. Loadings will reach a combined…

Asharq Al Awsat
Business FILE PHOTO: A gold ingot and gold coins are seen in this illustration picture taken November 17, 2017. REUTERS/Eric Gaillard/Illustration/File Photo

Gold Rises on Lingering Geopolitical Woes; US Inflation Data Eyed

Gold prices rose on Thursday as US sanctions against Russia and possible new export controls on China added to geopolitical risks, while investors looked…

Asharq Al Awsat
Business Minister of Transport and Logistic Services Saleh Al-Jasser. SPA

Saudi Arabia to Host UN Global Supply Chain Forum in 2026

Minister of Transport and Logistic Services Saleh Al-Jasser announced that the Kingdom will host the second edition of the UN Global Supply Chain Forum (GSCF)…

Asharq Al Awsat (Geneva)
Business OPEC Secretary-General Haitham Al-Ghais (X)

Al-Ghais Sees Global Oil Demand Rising to 123m bpd by 2050

OPEC Secretary-General Haitham Al-Ghais said global oil demand is set to climb to about 123 million barrels per day (bpd) by 2050, with crude maintaining the…

Asharq Al Awsat (Kuwait)
Business A citizen participates in the “Saudi Green Initiative” (SPA)

World Bank Urges Region’s States to Turn Climate, Tech Challenges into Opportunities

The World Bank has warned that countries in the Middle East and North Africa (MENA) face a critical crossroads, requiring “urgent” reforms to turn major…

Ayat Nour (Riyadh)
Business Pump jacks are seen at the Ashalchinskoye oil field owned by Russia's oil producer Tatneft near Almetyevsk, in the Republic of Tatarstan, Russia, July 27, 2017. Picture taken July 27, 2017. REUTERS/Sergei Karpukhin

Russia to Deliver Oil and Condensate Cargo to Syria

Russia is set to deliver around 750,000 barrels, or 100,000 metric tons, of a mix of Arctic heavy ARCO oil and gas condensate, a type of light oil, to Syria's…

Asharq Al Awsat
Business Austrian Ambassador to the Kingdom of Saudi Arabia Oskar Wüstinger - Asharq Al-Awsat

Austria Plans to Expand Investment in Saudi Arabia’s Tourism Market

Austria has reaffirmed its commitment to strengthening and expanding the presence of its companies within Saudi Arabia’s tourism and investment landscape, in a…

Fatehelrahman Yousif (Riyadh)
Business A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. REUTERS/Issei Kato - RC1F61927820/File Photo

Egypt Exports Second LNG Shipment in October, Petroleum Ministry Says

Egypt has exported a cargo of 150,000 cubic metres of liquefied natural gas to Türkiye, the petroleum ministry said on Wednesday. The cargo, which was…

Asharq Al Awsat
Business A Ryanair aeroplane takes off from Dublin Airport, a day after a fire at an electrical substation wiped out the power at Heathrow airport, in Dublin, Ireland March 22, 2025. REUTERS/Clodagh Kilcoyne

Ryanair Restarts 18 Routes from Jordan, Plans Expansion

Ryanair will run 84 weekly flights from Jordan's capital Amman this winter. This comes after restarting operations paused by the war in Gaza and is in…

Asharq Al Awsat