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 logo of the Saudi Capital Market Authority displayed on a building in Riyadh. (Asharq Al-Awsat)

BlackRock Executes First Riyal Bond Trades via Tradeweb ATS

BlackRock has executed the first Saudi riyal-denominated bond trades on Tradeweb Markets Inc.’s newly launched Alternative Trading System (ATS), marking a key…

Asharq Al Awsat (Riyadh)
Business A drone view shows ships and containers at the port in Qingdao, Shandong province, China October 20, 2025. (China Daily via Reuters)

China Overtakes US as Germany’s Top Trading Partner 

China overtook the US as Germany's largest trading partner in the first eight months of 2025, regaining the top spot as higher tariffs weighed on German…

Business A view of Riyadh, Saudi Arabia on August 29. 2025 (Reuters)

Lubna Olayan, Jane Fraser Appointed Co-Chairs of Saudi-US Business Council 

The Saudi-US Business Council announced on Tuesday the appointment of Olayan Group’s founding board chair Lubna Suliman Olayan, and Citigroup chief executive…

Business The tour was carried out in cooperation with a select group of partners from the Saudi tourism private sector. (SPA)

Saudi Tourism Authority Concludes Promotional Tour in Gulf Countries 

The Saudi Tourism Authority (STA) concluded its promotional tour across Oman, Qatar, Bahrain, and the United Arab Emirates, reported the Saudi Press Agency on…

Business Syria's Minister of Finance Mohammed Yisr Barnieh participates in the session "Rebuilding Syria: A Journey Towards Stability and Prosperity", during the IMF/World Bank annual meetings in Washington, DC, US, October 15, 2025. (Reuters)

World Bank: Rebuilding Syria to Cost Around $216 Billion 

Rebuilding Syria after more than a decade of civil war is expected to cost about $216 billion, the World Bank said in a report published Tuesday. The report…

Asharq Al Awsat (Washington)
Business  Ukrainian servicemen ride a military buggy, amid Russia's attack on Ukraine, in the Donetsk region, Ukraine, October 21, 2025. (Reuters)

Ukraine and Middle East Conflicts Boost US Arms Makers Profits

Weapons makers Lockheed Martin and RTX predicted strong profits for the rest of this year on Tuesday as their results benefited from surging demand for arms…

Business A drone view shows cityscape in Riyadh, Saudi Arabia, November 15, 2024. (Reuters)

Saudi Arabia, Syria Discuss Cooperation in Transport and Roads Infrastructure

Acting CEO of the Saudi Roads General Authority Eng. Badr Al-Dulami received Syrian Minister of Transport Dr. Yarub Badr at the authority's headquarters in…

Business UK Special Representative for Climate Rachel Kyte during her visit to Riyadh. (Asharq Al-Awsat)

Advanced Strategic Partnership between London, Riyadh in Clean Energy, Climate

Relations between Saudi Arabia and the UK have witnessed a qualitative leap in cooperation in climate and clean energy. The trade exchange between them has…

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

Syria Gives Banks Six Months to Absorb Losses from Lebanese Crisis 

Syria's central bank has ordered commercial lenders to fully provision for losses tied to Lebanon's financial collapse and submit credible restructuring plans…

Business  Aerial view of Saudi capital, Riyadh (SPA) 

Kearney: Saudi Cities Continue to Improve Global Performance Thanks to Infrastructure, Innovation

Management consultant Kearney’s Global Cities Report showed on Monday a significant improvement in the performance of Saudi cities on the international stage,…

Asharq Al Awsat (Riyadh)
Business A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer

Oil Falls for a Second Day as Oversupply Concerns Dominate 

Oil prices fell for a second day on Tuesday as concerns about excess supply and risks to demand stemming from tensions between the US and China, the world's…

Asharq Al Awsat
Business FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo

IMF Says Risks to Middle East Outlook Tilted to Downside on Global Uncertainty

The International Monetary Fund, which raised its 2025 growth outlook for the Middle East and North Africa last week, has said that risks for the region are…

Asharq Al Awsat
Business President Donald Trump, right, shakes the hand of Australian Prime Minister Anthony Albanese during a meeting in the Cabinet Room of the White House, Monday, October 20, 2025, in Washington. (AP)

Trump, Australia’s Albanese Sign Critical Minerals Agreement to Counter China 

US President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical minerals agreement aimed at countering China on Monday at a meeting…

Business Saudi Minister of Investment Khalid Al-Falih speaks at the event. (SPA)

Saudi Investment Minister: Private Sector Contribution to GDP Doubled in 10 Years

Saudi Minister of Investment Khalid Al-Falih underscored the vital and complementary role of the private sector in the national investment ecosystem, noting…

Business The headquarters of the European Bank for Reconstruction and Development (EBRD) is seen in London, Britain, November 22, Britain 2016. REUTERS/Stefan Wermuth

EBRD President Says Türkiye Will Stick with Push to Curb Inflation

Türkiye will stick to its push to bring down inflation with the country's finance minister pointing to temporary factors for a loss of momentum on the…

Asharq Al Awsat
Business Ingots of 99.99 percent pure gold are placed in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk

Gold Consolidates after Record Rally; Focus on US-China Talks

Gold prices inched higher on Monday after a record rally, as expectations of more US rate cuts and safe-haven demand from the ongoing government shutdown…

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

Oil Prices Slip on Concerns over a Supply Glut

Oil prices dipped on Monday, pressured by worries over a global glut as US-China trade tensions added to concerns about an economic slowdown and weaker energy…

Asharq Al Awsat
Business FILED - 28 September 2022, Mecklenburg-Western Pomerania, Lubmin: Pipe systems and shut-off devices in the gas receiving station of the former Nord Stream 2 Baltic Sea pipeline and the transfer station of the Eugal gas pipeline (European Gas Pipeline Link, in the foreground). Photo: Stefan Sauer/dpa

EU Agrees to Gradually End Russian Gas Imports by January 1, 2028

The European Union 's energy ministers on Monday backed the bloc's proposals to phase out Russian oil and gas imports by January 2028, the Council of the…

Asharq Al Awsat
Business Saudi Minister of Transport and Logistics at the center of the attendees during the opening of the Saudi International Rail Exhibition and Conference (Asharq Al-Awsat). 

Saudi Arabia Launches Ambitious Regional Transport Projects to Boost Connectivity

The second edition of the Saudi International Rail Exhibition and Conference has emerged as a key platform for unveiling an ambitious roadmap for both domestic…

Ayat Nour (Riyadh)
Business A sample of bastnaesite ore, a mineral used in the rare earth industry to extract elements such as cerium, lanthanum, and neodymium, is displayed at the Geological Museum of China in Beijing, China, October 14, 2025. (Reuters)

Fall in China’s Exports of Rare Earth Magnets Stokes Supply Chain Fears 

China's exports of rare earth magnets fell in September, reigniting fears that the world's top supplier could wield its dominance over a component key for US…

Business US President Donald Trump listens as Indian Prime Minister Narendra Modi speaks during a joint press conference at the White House in Washington, DC, US, February 13, 2025. (Reuters)

Trump Vows to Keep ‘Massive’ Tariffs on India Until Russian Oil Imports Cease 

US President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New…

Business File photo of the Saudi flag/AAWSAT

Saudi Arabian SNB's Third-quarter Net Profit Rises 20%

Saudi National Bank (SNB) reported on Monday around a 20% increase in third-quarter net profit on a double-digit rise in operating income, while operating…

Asharq Al Awsat
Business  Yousef bin Abdullah Al-Benyan, Chairman of the Board of Directors of the Small and Medium Enterprise Bank (SME Bank) - File Photo

Saudi Crown Prince Approves Renewal of Al-Benyan’s Chairmanship of SME Bank

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, also Chairman of the National Development Fund (NDF), has approved the renewal of the membership…

Asharq Al Awsat
Business Minister of Industry and Mineral Resources Bandar Al-Khorayef at Jeddah Forum (Asharq Al-Awsat)

Al-Khorayef: ‘Economic Corridor’ Positions Saudi Arabia as Global Hub

Saudi Arabia is moving swiftly to cement its position as a global manufacturing and production hub, capitalizing on its sweeping economic transformation. …

Saeed Al Abyad (Jeddah)