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 woman walks toward a jetty as traditional fishing boats are moored at port in Morocco's northern city of Sale on September 19, 2025. (AFP)

Morocco’s Annual Inflation Drops to 0.3% in August 

Morocco's annual inflation, measured by the consumer price index, dropped to 0.3% in August from 0.5% a month earlier, the statistics agency said on Monday. …

Business Investors were taking stock after a recent run-up. Mohd RASFAN / AFP

Asian Markets Mixed as Traders Take Stock after Fed-fueled Rally

Asian markets fluctuated between gains and losses Monday as investors took a step back after last week's rally fueled by the Federal Reserve's interest rate…

Asharq Al Awsat
Business Antigua and Barbuda-flagged cargo ship Siargao sails as clouds gather over the Bosphorus in Istanbul, Türkiye, in Istanbul, September 15, 2025. (Reuters)

Türkiye Says It Is Ending Additional Tariffs on Some US Imports 

Türkiye has terminated additional tariffs imposed in 2018 on US imports ranging from passenger cars to fruits, the country's Official Gazette said on Monday,…

Business A view of the Jeddah Islamic Port. (SPA)

Marsa Ocean Shipping's JSS Service Added to Jeddah Islamic Port 

The Saudi Ports Authority (Mawani) announced on Sunday the addition of Marsa Ocean Shipping’s new JSS service to Jeddah Islamic Port, a move that will expand…

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

Saudi Delegation Visits Azerbaijan to Bolster Investments

CEO of the Saudi Investment Promotion Authority (SIPA), Khaled Alkhattaf, led a delegation from both the public and private sectors on an official visit to…

Asharq Al Awsat
Business A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/ File Photo

Iraq Increases Oil Exports, Sees Extra Revenues

Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country's state oil marketer SOMO…

Asharq Al Awsat
Business Iraqi PM Sudani speaks at the launch of ‘Iraq Vision 2050’ (X)

Iraq Eyes Mega Project to Channel 20% of Asia-Europe Trade

Iraq aims to channel a fifth of Asia-to-Europe trade through its southern Grand Faw port and the Development Road project, Prime Minister Mohammed Shia al…

Asharq Al Awsat (Baghdad)
Business FILE PHOTO: A mine worker drives a shovel truck across an open-cast coal mine located in the Ordos mining district, Inner Mongolia Autonomous Region, March 14, 2014. REUTERS/Fayen Wong/File Photo

India Plans Strategic Rare Earths Reserve

India is considering setting up a strategic reserve of critical minerals for emergency use in defense manufacturing, Bloomberg News reported on Saturday,…

Asharq Al Awsat (New Delhi)
Business United States President Donald J Trump looks on to the media during an Executive Order signing which authorizes the new Trump Gold Card, a visa program to be overseen by the Secretary of Commerce 'that will facilitate the entry of aliens who have demonstrated their ability and desire to advance the interests of the United States by voluntarily providing a significant financial gift to the nation' in the Oval Office of the White House in Washington, DC, USA, 19 September 2025. (EPA)

Trump to Impose $100,000 Fee Per Year for H-1B Visas, in Blow to Tech

The Trump administration said on Friday it would ask companies to pay $100,000 per year for H-1B worker visas, prompting some big tech companies to warn visa…

Asharq Al Awsat
Business Italy's Prime Minister Giorgia Meloni and Economy Minister Giancarlo Giorgetti attend a session at the lower house of parliament in Rome, Italy, December 17, 2024. (Reuters)

Italy Wins Fitch Rating Upgrade on Fiscal Performance, Political Stability Under Meloni

Italy won a clear rating boost on Friday when Fitch upgraded the creditworthiness of the euro zone's third-largest economy reflecting the country's political…

Business Japan's Prime Minister contender Shinjiro Koizumi, who is currently Agriculture Minister and son of the former Prime Minister Junichiro Koizumi, smiles as he attends a press conference about his running in the ruling Liberal Democratic Party leadership race in Tokyo, Japan, September 20, 2025. (Reuters)

Japan PM Contender Koizumi Vows Wage Hikes to Counter Inflation

Shinjiro Koizumi, launching a bid to become Japan's next prime minister, pledged on Saturday to focus on revitalizing the economy by boosting wages and…

Business A bulldozer moves coal April 10, 2025, in Princeton, Ind. (AP)

China August Coal Imports from Mongolia Hit Highest Since at Least 2022

China's coal imports from Mongolia rose 13% in August from a year earlier to 8.41 million metric tons, up 20.2% from July and the highest monthly level since…

Business A container ship waits to berth at the port in Qingdao, in China’s eastern Shandong province on August 4, 2025. (AFP)

China’s Exports to North Korea See First Year-on-Year Decline of 2025

China's exports to North Korea recorded their first year-on-year decline of 2025 in August, according to customs data released Saturday. Outbound shipments…

Business GACA signs MoU with Boeing in the field of advanced air mobility. (SPA)

GACA Signs MoU with Boeing in the Field of Advanced Air Mobility

President of the General Authority of Civil Aviation (GACA), Abdulaziz bin Abdullah Al-Duailej, met with Don Ruhmann, Chief Aerospace Safety Officer at Boeing…

Asharq Al Awsat
Business A ship carrying Russian liquefied natural gas (LNG), is seen next to the terminal of Spanish gas grid operator Enagas ENAG.MC at the port of Barcelona, Spain, June 4, 2022. REUTERS/Nacho Doce/File Photo

EU Chief Urges Bloc Members to Sanction Russia's LNG Exports

The European Union should slap new sanctions on Russia’s exports of liquefied natural gas, its shadow fleet of aging oil tankers and major energy companies…

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

Oil Prices Dip as Demand Fears Overshadow Fed Rate Cut

Oil prices dropped on Friday as worries over fuel demand outweighed expectations that the year's first interest rate cut by the US Federal Reserve would…

Asharq Al Awsat
Business Gold ornaments are on display for sale inside a jewellery shop in Srinagar, April 4, 2025. REUTERS/Sharafat Ali/File Photo

Gold Heads for Fifth Weekly Gain with Focus on US Policy Path after Fed Action

Gold prices edged higher on Friday, set for a fifth straight weekly gain, buoyed by the Federal Reserve's first rate cut of the year, while investors awaited…

Asharq Al Awsat
Business The Saudi capital, Riyadh (SPA)

How the Gulf Stands to Gain from US Rate Cuts

The US Federal Reserve’s recent decision to cut interest rates marks a strategic move with immediate implications for Gulf economies. Because most regional…

Hala Saghbini (Riyadh)
Business People walk along the pedestrian side of Khreschatyk street in center of Kyiv, Ukraine, on Thursday, Sept. 18, 2025. (AP)

Ukraine Seeking New Four-Year Lending Program with IMF 

Ukraine's finance minister Serhii Marchenko said on Friday that the country was seeking a new four-year lending program from the IMF. Ukraine's current $15.5…

Business Mexican President Claudia Sheinbaum and Canadian Prime Minister Mark Carney shake hands as they hold a press conference at the National Palace, in Mexico City, Mexico September 18, 2025. (Reuters)

Leaders of Canada and Mexico Vow Closer Economic Ties in the Face of Trump Trade Uncertainty 

Canadian Prime Minister Mark Carney and President Claudia Sheinbaum promised Thursday to strengthen trade relations in the face of US tariff threats and pushed…

Business The Saudi Minister of Industry and Mineral Resources and the Egyptian Minister of Foreign Affairs met in Riyadh. SPA

Saudi Arabia, Egypt Discuss Expanding Industrial Cooperation

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with Egyptian Minister of Foreign Affairs Badr Abdelatty in Riyadh to discuss…

Asharq Al Awsat (Riyadh)
Business Etihad Airways Airbus A320-200 is seen at the National Airport Minsk, Belarus April 19, 2018. REUTERS/Vasily Fedosenko/File photo

Etihad Airways Adds Damascus to its Network

Etihad Airways expanded its global network announcing Damascus as its new destination in the Middle East, starting from June 2026. The new route reflects…

Business An aerial view shows tugboats helping a crude oil tanker to berth at an oil terminal, off Waidiao Island in Zhoushan, Zhejiang province, China July 18, 2022. cnsphoto via REUTERS/File Photo

Oil Edges Higher as Traders Weigh Rate Cut with Worries over US Economy

Oil prices edged higher on Thursday after the Federal Reserve cut interest rates as traders weighed the start of looser monetary policy against concerns about…

Asharq Al Awsat
Business Kuwaiti Oil Minister Tariq Al-Roumi. KUNA

Kuwait Oil Minister Expects Demand Boost after US Rate Cut

Kuwait's Oil Minister Tariq Al-Roumi said on Thursday he anticipated higher oil demand following the recent US interest rate cut, particularly from Asian…

Asharq Al Awsat (Kuwait)