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 Sudani delivers his speech at the opening of the Iraq Investment Forum (Iraqi News Agency). 

Sudani Launches $450 Billion Investment Opportunities in Iraq

Iraqi Prime Minister Mohammed Shia al-Sudani unveiled investment opportunities worth $450 billion across multiple sectors, signaling an ambitious drive to…

Hamza Mustafa (Baghdad)
Business The Royal Commission for AlUla presented a portfolio of major development projects to the attending delegations. (SPA)

Royal Commission for AlUla Showcases Development Efforts at ICAO General Assembly

The Royal Commission for AlUla (RCU), in coordination with the General Authority of Civil Aviation (GACA), took part in the proceedings of the Kingdom of Saudi…

Business  Iranians walk past a jeweller at the Grand Bazaar in Tehran on September 27, 2025. (AFP)

Iran Rial Hits Record Low Against US Dollar After Sanctions Reimposed

The Iranian rial plummeted to a record low against the US dollar on Sunday after the reinstatement of United Nations sanctions, according to currency-tracking…

Business A drone view shows combines harvesting sunflowers in a field in the Rostov Region, Russia September 3, 2025. (Reuters)

Russia Raises Emergency Level in Major Agriculture Region

Russia's government has decided to declare a federal level emergency in the agriculture sector of the southern Rostov region as bad weather has caused massive…

Business The Kuwaiti capital. Reuters file photo

Kuwait Plans to Add 14,050 MW of Electricity by 2031

The Kuwaiti Ministry of Electricity, Water and Renewable Energy said on Saturday that it is building strong future capacity by implementing large-scale…

Asharq Al Awsat (Kuwait)
Business A general view of the old city of Erbil, Iraq September 24, 2018. REUTERS/Thaier Al-Sudani/File Photo

Iraq Announces Investment Opportunities Worth $450 Billion in Various Sectors

Iraq's Prime Minister Mohammed Shia al-Sudani announced on Saturday investment opportunities worth $450 billion in various sectors, according to a statement by…

Asharq Al Awsat
Business The Monaco show provided a crucial platform to showcase the Red Sea's potential as a new yachting destination, aligning with Saudi Vision 2030 - SPA

Saudi Tourism Authority Launches Super Yacht Arabia at Monaco Show

The Saudi Tourism Authority participated in the Monaco Yacht Show, a leading global event in the luxury yachting sector, to reinforce its strategy of…

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

Iraq Resumes Kurdish Oil Exports to Türkiye after 2-1/2-year Halt

Crude oil flowed on Saturday through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Türkiye for the first time in 2-1/2 years, after…

Asharq Al Awsat
Business Riyadh, Saudi Arabia (SPA)

Saudi Rental Rules Enhance Fairness, Secure Riyadh Investment Market

Saudi Arabia has moved to cap residential and commercial rents in Riyadh for five years, a decision real estate experts say marks a turning point for the…

Mohammed al-Mutairi (Riyadh)
Business Lebanese Prime Minister Nawaf Salam meets IMF mission chief Ernesto Ramirez Rigo in Beirut (NNA)

IMF Says Lebanon Should Develop Strategy to Allocate Losses of Banking Sector

The International Monetary Fund (IMF) on Friday said Lebanon’s economy shows resilience despite the significant impact of the regional conflict. But the Fund…

Asharq Al Awsat (Beirut)
Business Alkhorayef's visit to China forms part of Saudi Arabia's broader strategy to deepen economic cooperation with international partners. SPA

Saudi Industry Minister Explores Investment Opportunities with Chinese Companies in Shanghai

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef convened a series of meetings with leaders of major Chinese industrial companies during his…

Asharq Al Awsat (Shanghai)
Business The Iraqi-Turkish pipeline is seen in Zakho district of the Dohuk Governorate of the Iraqi Kurdistan province, Iraq, August 28, 2016. (Reuters)

Crude Oil Exports from Iraq’s Kurdistan to Restart on Saturday, SOMO Says

Crude exports from Iraq’s semi-autonomous Kurdistan region are scheduled to restart on Saturday, the state news agency said on Friday, citing state marketer…

Business Lebanon's Central Bank Governor Riad Salameh speaks with AFP in an interview at his Beirut office. (AFP)

Lebanon Ex-central Bank Chief Posts Record Bail

Lebanon's former central bank governor Riad Salameh posted more than $14 million in bail Friday after a year in detention over embezzlement allegations, paving…

Asharq Al Awsat
Business A worker walks down the stairs of an oil tank at Türkiye Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS), some 70 km (43.5 miles) from Adana February 19, 2014. REUTERS/Umit Bektas/File Photo

Russian Oil Imports to Türkiye Fall as Trump Seeks to Cut Moscow's Earnings

Imports of Russian oil to Türkiye , Europe's largest buyer of fuel from Moscow, have declined due to competition from other oil grades, sanctions, and as US…

Asharq Al Awsat
Business A view shows the al-Shuaiba oil refinery in southwest Basra, Iraq April 20, 2017. Reuters

Iraqi Oil Exports via Türkiye Ceyhan Pipeline to Resume at 180,000–190,000 bpd

Iraqi oil minister Hayan Abdel-Ghani expects oil exports via Türkiye's Ceyhan pipeline to resume at about 180,000–190,000 barrels per day, Kurdistan…

Asharq Al Awsat
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Set for Biggest Weekly Gain in Three Months as Russia Cuts Fuel Exports

Oil prices edged up on Friday, on track for a more than 4% weekly gain, as Ukraine's attacks on Russia's energy infrastructure prompted Moscow to curb fuel…

Asharq Al Awsat
Business Gold samples are displayed at Brazil's Federal Police gold-tracing program 'Ouroteca' in Brasilia, Brazil, September 4, 2025. REUTERS/Diego Herculano

Gold Firms as Upbeat US GDP Data Dampens Rate Cut Bets; Focus on PCE

Gold held steady on Friday after better-than-expected US GDP data dampened bets of further US rate cuts, while investors awaited key inflation data later in…

Asharq Al Awsat
Business A drone view shows people swimming at a public beach in Latakia, Syria June 12, 2025. REUTERS/Karam Al-Masri/File Photo

Syria Signs Tourism Investment Contracts Worth $1.5 Billion

Syria signed investment contracts worth $1.5 billion to support tourism in Syria, said the state news agency citing tourism minister Mazen al-Salhani on…

Asharq Al Awsat
Business A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon Prepares Plan to Address Losses from Financial Crash

A long-awaited plan to restructure the debt strangling Lebanon's economy could go before the cabinet within weeks, a source briefed on the issue said, but some…

Asharq Al Awsat
Business Riyadh, Saudi Arabia (SPA)

Saudi Non-Oil Export Surge Lifts Trade Surplus

Saudi Arabia’s trade surplus surged 53.4% in July, driven by a sharp rise in non-oil exports, in a boost to the kingdom’s efforts to diversify income sources…

Business Saudi Crown Prince Mohammed bin Salman (SPA)

Saudi Arabia Freezes Riyadh Rent Hikes for Five Years

Saudi Arabia has imposed a five-year freeze on rent increases in the capital Riyadh, effective as of Sep.25, 2025, as part of sweeping reforms aimed at…

Asharq Al Awsat (Riyadh)
Business Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France November 14, 2018. REUTERS/Christian Hartmann/File Photo

Oil Pulls Back from Seven-week High

Oil prices edged down on Thursday, retreating from the previous session's seven-week high, as some investors took profits after US stocks closed lower and in…

Asharq Al Awsat
Business A goldsmith weighs gold jewellery inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo

Gold Rises on Safe-haven Demand, Investors await US Data

Gold rose on Thursday as geopolitical and economic tensions heightened safe-haven demand, while investors awaited US economic data for clues on the Federal…

Asharq Al Awsat
Business The forum, organized by the Federation of Saudi Chambers, gathered about 200 Saudi and Chinese companies with private sector representatives - SPA

$1.74 Billion in Investment Deals Signed at Saudi-Chinese Business Forum

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef witnessed the signing of 42 investment agreements between Saudi and Chinese companies,…

Asharq Al Awsat