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 Energy and Mines Minister Mohamed Arkab

Algeria Says Plans $60 Billion Energy Investment Over Five Years

Algeria will invest $60 billion in energy projects between 2025 and 2029 as part of a large-scale strategy to boost oil, gas and hydrogen development, Energy…

Asharq Al Awsat (Algiers)
Business FILE PHOTO: A logo of Blackstone is pictured in Manhattan, New York City, US July 29, 2025. REUTERS/Mike Segar/File Photo

Blackstone, Abu Dhabi's Lunate Team Up to Invest in Gulf Logistics

Blackstone and Abu Dhabi's Lunate plan to set up a platform that will target investments in logistics assets in the Gulf region worth $5 billion, the two…

Asharq Al Awsat (New York) Asharq Al Awsat (Abu Dhabi)
Business A drone view of a pump jack and drilling rig south of Midland, Texas, US June 11, 2025. REUTERS/Eli Hartman

Oil Rises after OPEC+ Hikes Output Less than Expected

Oil prices rose more than 1% on Monday after OPEC+'s planned production increase for November was more modest than expected, tempering some concerns about…

Asharq Al Awsat
Business Employee takes granules of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold Climbs above Key $3,900 Level for First Time on Safe-haven Demand

Gold prices touched an all-time high on Monday, soaring above the $3,900-per-ounce level, as investors flocked to safe-haven bullion amid the US government…

Asharq Al Awsat
Business Muhammad Alam speaks to the audience during SAP’s announcement of the deployment of its new suite of solutions from Saudi Arabia. (Asharq Al-Awsat)

Global Software Giant SAP Doubles Growth After Moving Regional Headquarters to Riyadh 

Muhammad Alam, Executive Board Member and Head of Products and Engineering at SAP SE, told Asharq Al-Awsat that the global software giant was among the first…

Bandar al-Mosalam (Riyadh)
Business The Saudi capital, Riyadh (SPA)

Saudi Arabia: Reform Momentum Propels Non-Oil Sector to Strongest Growth in Six Months

In a clear sign of the continued strength of Saudi Arabia’s reform drive and its growing success in diversifying the economy away from oil, the Kingdom’s non…

Asharq Al Awsat (Riyadh)
Business Saudi Arabia Railways signed a Memorandum of Understanding with Türkiye’s TCDD. (SPA)

SAR, Turkish State Railways Sign MoU to Strengthen Cooperation

Saudi Arabia Railways (SAR) signed a Memorandum of Understanding (MoU) with Türkiye’s TCDD (Türkiye Republic of State Railways) to enhance cooperation and…

Asharq Al Awsat
Business Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi and Minister of Foreign Affairs of Cyprus Constantinos Kombos signed a memorandum of understanding. (SPA)

GCC, Cyprus Sign MoU to Explore Collaboration Across Key Sectors

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi and Minister of Foreign Affairs of Cyprus Constantinos Kombos on Sunday signed a…

Asharq Al Awsat
Business The initiative comes as part of the authority’s efforts to strengthen the Kingdom’s position as a global investment destination. (File photo of the Saudi flag)

Saudi Arabia Showcases ‘Invest in Saudi’ Pavilion at Munich EXPO REAL

The Saudi Investment Promotion Authority is organizing the “Invest in Saudi” pavilion at the EXPO REAL exhibition in Munich, Germany, from October 6 to 8. …

Asharq Al Awsat
Business The water sector in the Kingdom keeps accelerating the pace of its technological transformation SPA

Saudi Arabia’s Water Sector Advances Strategic Shift to Sustainable Reverse Osmosis Technology

Saudi Arabia’s water sector is undergoing a transformative strategic shift in its production systems, marked by the gradual transition from energy-intensive…

Asharq Al Awsat
Business The ICAO Executive Council has renewed the Kingdom of Saudi Arabia’s membership for the 2026–2028 term - SPA

Saudi Arabia Expands Global Aviation Network with 17 New Agreements at ICAO Assembly

The Kingdom of Saudi Arabia, represented by the General Authority of Civil Aviation (GACA), concluded its participation in the 42nd General Assembly of the UN…

Asharq Al Awsat
Business People walk past an installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) during the COP29 United Nations climate change conference in Baku, Azerbaijan November 19, 2024. REUTERS

OPEC+ Agrees Modest Oil Output Hike from November

A group of countries that are part of the OPEC+ alliance of oil-exporting countries has agreed to a small boost in oil production, citing a steady global…

Asharq Al Awsat
Business Sculptures in the shape of whales stand near a road as commuters drive toward high rise buildings in Tehran in October 4, 2025. (Photo by ATTA KENARE / AFP)

Iran Parliament Approves Plan to Slash 4 Zeros from Currency

Iran's parliament on Sunday approved a plan to remove four zeros from the national currency, the rial, which has sharply depreciated as the country grapples…

Asharq Al Awsat (London)
Business QatarEnergy has in recent years acquired stakes in oil and gas basins

QatarEnergy Acquires 27% Participating Interest in Offshore Egypt Block from Shell

QatarEnergy agreed with Shell to acquire a 27% participating interest in a block offshore Egypt from the oil and gas major, it said in a statement on Sunday. …

Asharq Al Awsat (Doha)
Business FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin Hits All-time High Above $125,000

Bitcoin, the world's largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at $125,245.57 at 0512 GMT. Bitcoin's…

Asharq Al Awsat (London)
Business Al-Suleiman stressed that the ministry continues to work with local and international companies to expand gas production

Syria: Significant Challenges Facing Generation, Transmission, and Distribution of Electricity

Spokesperson for the Syrian Energy Ministry Ahmed al-Suleiman said on Saturday that addressing the electricity crisis in Syria requires time and continuous…

Asharq Al Awsat (Damascus)
Business A staff at an oilfield holds the flag of Kurdistan. (X)

Iraq Receives More Than 1 Million Barrels of Oil from Kurdistan Region

Iraqi Oil Minister Hayan Abdul Ghani announced on Saturday that the federal government has received more than one million barrels of crude oil from the…

Asharq Al Awsat (Baghdad)
Business Over 900 Global Startups to Join Biban Forum 2025 in Riyadh

Over 900 Global Startups to Join Biban Forum 2025 in Riyadh

Over 900 startups from around the world will be featured in the Startup Door, one of seven doors at the Biban Forum 2025, organized by the Small and Medium…

Business An Iraqi man rides his boat at dusk in the Tigris River in central Baghdad, on September 30, 2025. (AFP)

Iraqi Farmers Protest Cultivation Ban amid Drought

Hundreds of Iraqi farmers protested Saturday against the government's policy of curbing land cultivation to preserve dwindling water supplies, an AFP…

Business Prices in Egypt are expected to ease following an interest rate cut. (Ministry of Supply and Internal Trade)

Egypt Cuts Interest Rates for Fourth Time in 2025 as Inflation Eases

The Central Bank of Egypt cut its key interest rates by 1 percentage point on Thursday, the fourth reduction this year, as policymakers pointed to easing…

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

Oil Prices Head for Weekly Loss

Oil prices were stable on Friday but remained on course for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply. Brent crude futures…

Asharq Al Awsat
Business An employee casts ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold Heads for Seventh Weekly Gain on US Shutdown Fears, Rate Cut Expectations

Gold prices held steady on Friday, poised for a seventh consecutive weekly rise, as expectations of further US interest rate cuts and concerns over the…

Asharq Al Awsat
Business A general view of oil tanks at Mediterranean port of Ceyhan, February 19, 2014. REUTERS/Umit Bektas/File Photo

Oil Flows From Iraqi Kurdistan to Türkiye Halted due to Full Storage Tanks

Crude oil exports from Iraq's Kurdistan region to Türkiye's Ceyhan port were halted on Friday because storage tanks had reached capacity, two energy sources…

Asharq Al Awsat
Business The headquarters of Saudi Arabia’s Capital Market Authority in Riyadh (Asharq Al-Awsat). 

Saudi Capital Market to End ‘Qualified Foreign Investor’ Restrictions

Saudi Arabia is preparing to take a major step toward liberalizing its stock market, with regulators proposing to scrap long-standing restrictions that limit…

Asharq Al Awsat (Riyadh)