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 A combine harvests wheat in a field in Almaty Region, Kazakhstan July 14, 2021. REUTERS/Pavel Mikheyev/File Photo

Egypt State Buyer Makes Rare Kazakhstan Wheat Purchase

Egypt's state grains buyer has purchased wheat from Kazakhstan for the first time in at least 15 years, according to one person familiar with the matter and…

Asharq Al Awsat
Business US dollar banknotes are seen in this illustration taken May 4, 2025. REUTERS/Dado Ruvic/Illustration

Dollar Reaches Two-month Highs as Euro, Yen Hit by Political Turmoil

The dollar rose on Thursday, adding to a strong run this week, helped by a weakening euro beset by a political crisis in Paris and a struggling yen amid a…

Asharq Al Awsat
Business Model of natural gas pipeline and decreasing stock graph, July 18, 2022. REUTERS/Dado Ruvic/Illustration

Oil Little Changed as Investors Weigh Gaza Ceasefire, Stalled Ukraine Talks

Oil prices were little changed on Thursday as investors weighed a ceasefire deal in Gaza that could ease tensions in the Middle East against stalled peace…

Asharq Al Awsat
Business Gold jewellery is displayed at a shop in New Delhi, India, March 1, 2016. REUTERS/Anindito Mukherjee

Gold Holds above $4,000, Silver Hits Record High

Gold prices held above $4,000 an ounce on Thursday as investors assessed the Israel-Hamas ceasefire deal, while broader geopolitical and economic uncertainty…

Asharq Al Awsat
Business Chairman of the Capital Market Authority and Chairman of the Board of Trustees of the Financial Academy, Mohammed Elkuwaiz (Asharq Al-Awsat) 

Saudi Arabia Accelerates Human Capital Development in the Financial Sector

Saudi Arabia is pressing ahead with its commitment to strengthen and develop human capital across financial institutions, in line with the Kingdom’s robust…

Ayat Nour
Business (FILES) A worker displays a one kilogram gold bullion bar at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)

Gold Takes a Breather after Safe-haven Demand Fuels Record Run

Gold took a breather from a record run on Thursday, as investors booked profits a day after bullion breached the $4,000 level for the first time ever on…

Asharq Al Awsat
Business File photo of the Saudi flag (AAWSAT)

Saudi-Pakistan Business Council Convenes in Islamabad

The Saudi-Pakistan Joint Business Council convened Wednesday in Islamabad, chaired by Prince Mansour bin Mohammed and Pakistani Minister for Commerce Jam Kamal…

Asharq Al Awsat
Business SAS seeks to advance digital transformation through partnerships with Saudi government, private sector, and universities (Shutterstock)

SAS Opens Riyadh Hub, Pledges $1bn to Boost AI Growth

Underscoring Saudi Arabia’s growing role as a regional center for innovation and digital transformation, SAS, a global leader in data and artificial…

Nassim Ramadan (London)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef. (SPA file)

Saudi Industry Minister Leads Delegation to K Show 2025 in Germany

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef kicked off on Wednesday an official visit to Germany, leading a high-level delegation from…

Business Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)

Riyadh Air Announces Inaugural Flights to London on October 26, Unveils ‘Sfeer’ Loyalty Program

Riyadh Air, Saudi Arabia’s new national carrier and a Public Investment Fund company, announced on Wednesday the launch of its first daily flights to London…

Business International Monetary Fund (IMF) Managing Director Kristalina Georgieva delivers a speech at the Milken Institute in Washington, DC USA, 08 October 2025. (EPA)

IMF Chief Says Global Economy Doing ‘Better than Feared,’ Risks Remain

The world economy has proven more resilient than expected despite acute strains from multiple shocks, the head of the International Monetary Fund said on…

Business A view shows the Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken with a drone. (Reuters)

Iraq Signs Deal with Exxon to Help Develop Large Oilfield

Exxon Mobil signed an agreement with Iraq on Wednesday to help it develop its giant Majnoon oilfield and expand oil exports, government officials and sources…

Business The landmark Cairo Tower and the Cairo Opera House are pictured in Cairo's central island of Zamalek on October 6, 2025. (AFP)

Egypt’s Annual Inflation Slows to 11.7% in September 

Egypt's annual urban consumer price inflation slowed to 11.7% in September from 12% in August, data from statistics agency CAPMAS showed on Wednesday, a…

Business LONG BEACH, CALIFORNIA - SEPTEMBER 9: The Maersk Yosemite and the OOCL Utah container ships are seen at the Port of Long Beach on September 9, 2025 in Long Beach, California. Apu Gomes/Getty Images/AFP

Maersk Introduces New Temporary Surcharges Due to Situation in Red Sea

Maersk is introducing temporary surcharges due to the situation in the Red Sea and the Gulf of Aden, excluding exports from Far East Asia. In a statement…

Asharq Al Awsat (London)
Business (FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)

Gold Crosses $4,000 for First Time, Building on Historic Rally

Gold pushed through $4,000 an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty,…

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

Emerging Markets Better at Weathering Shocks, Says IMF

Emerging market economies have become better at weathering major global economic shocks thanks to their credible inflation targeting, improved foreign exchange…

Asharq Al Awsat (Washington )
Business Saudi Arabia has recorded one of the world’s fastest gains in women’s workforce participation (SPA)

World Bank: Saudi Arabia One of World’s Fastest in Empowering Women

The World Bank revealed on Tuesday that Saudi Arabia has recorded one of the world’s fastest gains in women’s workforce participation, rising nearly 14…

Asharq Al Awsat (Riyadh)
Business The visit aligns with Saudi Vision 2030 to transform the Kingdom into a leading industrial power and a global hub for mining and minerals by strengthening international partnerships, transferring advanced technologies, and attracting quality investments. (SPA)

Saudi Industry Minister Concludes Visit to Greece Aimed at Boosting Economic Ties 

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef concluded on Tuesday an official visit to Greece, leading a high-level…

Business Spring wheat is harvested on a farm near Beausejour, Manitoba, Canada, Aug. 20, 2020. (Reuters)

France to Supply Two Thirds of Morocco's Soft Wheat Needs

French wheat exporters will supply Morocco with two thirds of its soft wheat needs, or 3.5 million metric tons, in the 2025-2026 season, Philippe Heusele,…

Asharq Al Awsat
Business Workers are seen at a Saudi Aramco facility. (SPA)

Oil Steady after Smaller than Expected Boost to OPEC+ Output

Oil prices were steady on Tuesday as investors assessed a smaller than expected increase to OPEC+ output in November against a backdrop of possible oversupply…

Asharq Al Awsat
Business Shipping containers are parked at Thar Dry Port in Sanand in the western part of Gujarat, India, August 27, 2025. REUTERS/Amit Dave

World Bank Warns US Tariffs on Indian Exports to Slow South Asia Growth Next Year

The World Bank on Tuesday said higher tariffs on Indian goods exported to the US will drag the South Asian growth rate in 2026, even as the current year…

Asharq Al Awsat
Business Women wearing traditional Chinese costumes pose for photographs as they visit the surroundings of the Forbidden City in Beijing during China's National Day Golden Week holiday on October 6, 2025. (AFP)

World Bank Lifts China 2025 GDP Forecast to 4.8% Ahead of a Slowdown Next Year 

The World Bank lifted its 2025 growth projection for China to 4.8% and raised its forecast for much of the region, but warned of slowing momentum next year,…

Business A Syrian couple smoke "shisha" water pipe at Latakia's Mediterranean seaside corniche, in the coastal city of Latakia, Syria, Saturday, Oct. 4, 2025. (AP)

World Bank Lifts Growth Forecast for Middle East Region, Iran Suffers Contraction 

The World Bank has lifted its growth outlook for the region encompassing the Middle East, North Africa, Afghanistan and Pakistan for 2025, though trimmed its…

Business FILE PHOTO: Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain July 21, 2015. REUTERS/Neil Hall/File Photo

Gold Hits All-time High on Safe-haven Demand, Fed Rate Cut Bets

Gold hit a record high on Tuesday as there were no signs of a reprieve from an impasse between the two houses of the US Congress that has led to a government…

Asharq Al Awsat