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: President & CEO of Saudi Aramco, Amin Nasser, speaks during the opening session of the International Petroleum Technology Conference (IPTC), in Riyadh, Saudi Arabia, February 21, 2022. REUTERS/Ahmaed Yosri/File Photo

Aramco Chief Warns of Global Oil Shortage if Industry Fails to Invest

The head of Saudi Aramco, Amin Nasser, has warned of a global oil shortage on the horizon, after a decade in which the energy industry turned its back on the…

Asharq Al Awsat (London)
Business FILE PHOTO: Rosneft's Russian-flagged crude oil tanker Vladimir Monomakh transits the Bosphorus in Istanbul, Türkiye, July 6, 2023. REUTERS/Yoruk Isik/File Photo

Oil Up 1% after Trump Says India Promised to Stop Buying from Russia

Oil prices rose around 1% on Thursday after US President Donald Trump said Indian Prime Minister Narendra Modi had pledged his country would stop buying oil…

Asharq Al Awsat
Business Cars pass in front of a billboard that reads, in Arabic, "A new era for Lebanon," in Beirut, Lebanon, May 28, 2025. (AP Photo/Hussein Malla)

Lebanon's Economy Minister Expects Cabinet to Sign Fiscal Gap Law Soon

Lebanon's cabinet is soon expected to approve and send to parliament a long-awaited law needed to restructure its debt burden, the country's economy minister…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef. SPA

Industry Minister: Saudi Iron Sector Offers Investment Opportunities Worth $16 Billion

Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted the significant growth of Saudi Arabia’s iron sector and the promising investment…

Asharq Al Awsat (Riyadh)
Business New Murabba takes part in the third Qatar Real Estate Forum and the accompanying Cityscape Qatar 2025 exhibition. (SPA)

New Murabba Highlights its Vision at Qatar Real Estate Forum and Cityscape Qatar 2025

New Murabba, a Saudi Public Investment Fund (PIF) company, participated in the third Qatar Real Estate Forum and the accompanying Cityscape Qatar 2025…

Business The two sides reviewed the longstanding friendship and ties between the two countries and their peoples - SPA

Saudi, Russian Officials Discuss Strengthening Economic, Investment Ties

Saudi Deputy Foreign Minister for International Multilateral Affairs and General Supervisor of the Public Diplomacy Deputyship Abdulrahman Al-Rassi met with…

Asharq Al Awsat
Business OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

OPEC to Hire Consultant to Assess Members' Capacity, Says Kuwaiti Minister

The Organization of the Petroleum Exporting Countries (OPEC) is moving to appoint "one of the top consultants" to visit member states and assess their…

Asharq Al Awsat
Business Workshops kicked off on Tuesday for a three-day program with participation from four countries — Zambia, The Gambia, Jordan, and Iraq — to study Saudi Arabia’s experience in business registration and licensing (Asharq Al-Awsat)

Saudi Arabia Exports Business Reform Expertise Through ‘Knowledge Center’

Saudi Arabia is sharing its experience in business environment reforms with the world through the knowledge center established in partnership with the World…

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

Gold Extends Record Run Past $4,200 on Rate-cut Hopes, Safe-haven Fervor

Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send…

Asharq Al Awsat
Business A general view of the port in Tianjin, China, 14 October 2025. (EPA)

US, China Roll Out Tit-For-Tat Port Fees, Threatening More Turmoil at Sea 

The US and China on Tuesday began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high…

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

Riyadh to Host Inaugural Saudi EXIM Global Partners Forum in November 

The Saudi Export-Import Bank (Saudi EXIM) announced on Tuesday the launch of the Saudi EXIM Global Partners Forum 2025 in its first edition, to take place in…

Business A general view of Riyadh, Saudi Arabia. (AFP)

IMF Raises Saudi Arabia’s Economic Growth to 4%  

The International Monetary Fund (IMF) has increased its 2025 growth forecast for Saudi Arabia to 4%, its second upward revision in three months, citing notable…

Asharq Al Awsat (Washington)
Business The foundation aims to advance the biotechnology sector and create an enabling environment for its growth and development in Riyadh. (Saudi National Biotechnology Strategy)

Saudi Arabia Approves Establishment of Biotechnology Center Foundation in Riyadh  

Saudi Arabia has approved the establishment of a biotechnology center foundation in Riyadh, following a recommendation from the Council of Economic and…

Bandar al-Mosalam (Riyadh)
Business Residential units in Saudi Arabia. (Asharq Al-Awsat) 

Riyadh Landlords Delay ‘Ejar’ Registration to Find Loopholes for Rent Hikes  

New regulatory measures governing the relationship between landlords and tenants in Riyadh have caused confusion among some property owners, particularly those…

Bandar al-Mosalam (Riyadh)
Business Pierre-Olivier Gourinchas, Economic Counselor of the International Monetary Fund (IMF), departs from a press briefing on the global economic outlook at the 2025 IMF and World Bank Annual Meetings at IMF headquarters in Washington, DC, USA, 14 October 2025. (EPA)

IMF Upgrades US Growth Outlook as Trump’s Tariffs Cause Less Disruption, for Now

The US and global economies will grow a bit more this year than previously forecast as the Trump administration's tariffs have so far proved less disruptive…

Business Saudi Aramco Chief Executive Officer Amin Nasser (AFP) 

Nasser: Aramco Can Sustain 12 Million Barrels Per Day for a Year Without Extra Cost

Saudi Aramco Chief Executive Officer Amin Nasser said on Monday that the company can sustain its maximum crude oil production capacity of 12 million barrels…

Asharq Al Awsat (London)
Business Oil rigs operate in Los Angeles, California, USA, 10 October 2025. EPA/CAROLINE BREHMAN

Oil Edges Up as US, China Tamp Down Trade Tension

Oil prices rose on Tuesday as early signs of a thaw in US-China trade tensions bolstered market sentiment, alleviating concerns over global fuel demand. US…

Asharq Al Awsat
Business A shopkeeper shows a traditional Banarasi sari at a store in Varanasi on November 20, 2021. (AFP)

Indian Textile Exporters Turn to Europe, Offer Discounts to Offset US Tariffs 

Indian textile exporters are seeking new buyers in Europe and offering discounts to existing US customers to cushion the blow from steep US tariffs of as much…

Business The symposium continued for a second day on Monday. (SPA)

GEOMIN 2025 Symposium Continues in Jeddah, Showcasing Latest Mineral Exploration Technologies 

The first edition of the GEOMIN 2025 Symposium, hosted by the Saudi Geological Survey (SGS) and organized by the Society of Exploration Geophysicists (SEG),…

Business Saudi Arabia’s Midad Energy, Sonatrach Sign $5.4 Bln Illizi Basin Exploration and Development Deal 

Saudi Arabia’s Midad Energy, Sonatrach Sign $5.4 Bln Illizi Basin Exploration and Development Deal 

Algeria's state-owned energy company Sonatrach said on Monday it signed a contract worth around $5.4 billion with Saudi Arabia's Midad Energy for oil and gas…

Business A general view of Kuwait City buildings, Kuwait, December 23, 2024. (Reuters)

'Major' Offshore Gas Find in Kuwait, Says National Oil Company

The Kuwait Oil Company said on Monday that it had made a "major" discovery of a new offshore natural gas field projected to have around one trillion cubic feet…

Business Mature spring wheat awaits harvest on a farm near Beausejour, Manitoba, Canada August 20, 2020. REUTERS/Shannon VanRaes/File Photo

Algeria Tenders to Buy Nominal 50,000 Tons Durum Wheat

Algeria’s state grains agency OAIC has issued an international tender to purchase a nominal 50,000 metric tons of durum wheat, European traders said on Monday…

Asharq Al Awsat
Business Prime Minister Salem Bin Braik during his meeting with the Saudi Ambassador to Yemen, Mohammed Al-Jaber, following the announcement of Saudi support for Yemen (Asharq Al-Awsat)

IMF: Saudi Support Bolsters Yemen’s Economic Stability

The International Monetary Fund (IMF) has revealed that the latest Saudi financial package of $368 million to support Yemen’s budget and the energy and health…

Abdulhadi Habtor (Riyadh)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef delivering his opening remarks at Geomin 2025 (Saudi Geological Survey)

Saudi Arabia Doubles Mining Exploration Spending as Sector Enters New Growth Phase

Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, revealed that national spending on mining exploration has more than doubled in…

Asma al Ghabri (Jeddah)