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 salesman displays gold chains, at Jos Alukkas jewelry store in Bengaluru on September 17, 2025. I(Photo by Idrees MOHAMMED / AFP)

Gold Slips as Dollar Firms after Fed's Message on Interest Rate Path

Gold prices extended losses on Thursday as the dollar firmed after the US Federal Reserve cut interest rates by an expected quarter of a percentage point and…

Asharq Al Awsat
Business This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)

Saudi Aramco Completes Sukuk Issuance

Saudi Aramco has successfully completed a $3 billion international Sukuk issuance across two tranches, the company announced in a statement on Thursday. …

Asharq Al Awsat (Dhahran)
Business The project spans a total area of more than 8,000 square meters, distributed between Terminal 1 and the North Terminal. SPA

Jeddah Airports Company Inaugurates Duty-Free Project at King Abdulaziz International Airport

Jeddah Airports Company (jedco) has announced the inauguration of the duty-free project at King Abdulaziz International Airport, in collaboration with its…

Asharq Al Awsat (Jeddah)
Business Amaia Arranz-Otaegui, a University of Copenhagen postdoctoral researcher in archaeobotany, and Ali Shakaiteer, a local assistant to researchers working at an archeological site in the Black Desert in northeastern Jordan, are seen collecting wheat in this image provided July 16, 2018. - Reuters

Jordan Gets 3 Participants So Far in 120,000 Ton Barley Tender, Traders Say

Jordan's state grain buyer has purchased about 60,000 metric tons of animal feed barley to be sourced from optional origins in an international tender seeking…

Asharq Al Awsat
Business Stacks of Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. Picture taken February 3, 2020. REUTERS/Khalil Ashawi/File Photo

Syria Seeks International Suppliers to Print New Currency Notes

Syria has requested bids from international suppliers to print new currency notes as part of its efforts to boost the devalued pound, its central bank governor…

Asharq Al Awsat
Business  A message reading "AI artificial intelligence", a keyboard, and robot hands are seen in this illustration taken January 27, 2025. (Reuters)

AI Set to Transform Global Trade, Says World Trade Organization Report 

Artificial intelligence could boost the value of trade in goods and services by nearly 40% by 2040, but without adequate policies it could also exacerbate…

Business Tencent’s logo is displayed at its pavilion at the China International Fair for Trade in Services in Beijing, China. (Reuters)

Tencent Unveils AI Platform, Eyes Middle East Expansion at Global Digital System Summit  

Chinese technology giant Tencent has announced the global rollout of new scenario-driven artificial intelligence (AI) capabilities, aiming to help enterprises…

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: IEA Report Underscores Need for Oil Investments  

The Organization of the Petroleum Exporting Countries (OPEC) said its repeated calls for greater investment in the oil sector have been vindicated, responding…

Asharq Al Awsat (Vienna)
Business A view of Riyadh, Saudi Arabia. (Getty Images)

NDMC Closes September 2025 Issuance under Saudi Govt SAR-Denominated Sukuk Program 

The National Debt Management Center (NDMC) announced the completion of investor requests for the September 2025 issuance under the Saudi Arabian government’s…

Business  Saudi International Rail will take place in Riyadh on October 19-20. (SPA)

Riyadh to Attract Major Railway Companies at Saudi International Rail Exhibition in October 

Riyadh is set to host the world’s leading railway companies next month with the launch of the second annual Saudi International Rail. The event will take…

Business Saudi Ministry of Industry Awards 25 Exploration Sites, Opens Bidding for 162 More 

Saudi Ministry of Industry Awards 25 Exploration Sites, Opens Bidding for 162 More 

Saudi Arabia’s Ministry of Industry and Mineral Resources announced on Tuesday that nine local and international companies and consortia have won the multi…

Business A Chevron logo at the Chevron building in Houston, Texas, US August 19, 2025. (Reuters) 

Chevron, Israeli Pipeline Operator to Kickstart New Gas Pipeline to Egypt 

Chevron has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to…

Business Dowson Tong, Senior Executive Vice President of Tencent and CEO of the Cloud and Smart Industries Group. (Asharq Al-Awsat)

Tencent Deepens Digital Footprint in Saudi Arabia to Support Smart Transformation

As China races to expand its global digital presence, technology giant Tencent is stepping up its investments in Saudi Arabia with major cloud projects that…

Asharq Al Awsat (Shenzhen (China) )
Business Finance Minister Mohammed al-Jadaan speaks at Monday's conference in Riyadh. (Asharq Al-Awsat)

Al-Jadaan: Saudi Arabia’s Financial Market Is Fastest-Growing Worldwide 

Saudi Arabia’s financial market has surged past $2.4 trillion, making it the fastest-growing globally, as the Kingdom doubles down on fintech, digital payments…

Asharq Al Awsat (Riyadh)
Business A plastic mock-up of the Wolf etu, a two-wheeled electric concept car that weighs just 450kg and is designed for fun city drives, is pictured at the IAA Mobility International Motor Show (IAA, Internationale Automobil Ausstellung), on September 9, 2025. (AFP)

China Replaces Germany in Top 10 of UN’s Most Innovative Nations 

China moved into the top 10 of the United Nations' annual ranking of most innovative countries for the first time on Tuesday, replacing Europe's largest…

Business Saudi Reef Launches ‘Sustainable Reef’ Initiative to Support Rural Communities, Families 

Saudi Reef Launches ‘Sustainable Reef’ Initiative to Support Rural Communities, Families 

The Sustainable Agricultural Rural Development Program “Saudi Reef” launched a new media initiative titled “Sustainable Reef,” aimed at highlighting the…

Business The Global Infrastructure Forum and Expo 2025 kicked off in Riyadh on Monday. (SPA)

First Day of Global Infrastructure Forum and Expo Concludes in Riyadh with 7,000 Visitors 

The first day of the Global Infrastructure Forum and Expo 2025 in Riyadh concluded on Monday with the participation of local and international officials and…

Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz speaks at the 69th session of the International Atomic Energy Agency (IAEA) General Conference in Vienna on Monday. (SPA)

Saudi Energy Minister: Kingdom Forging Ahead Fully with its Nuclear Program 

Saudi Minister of Energy, Chairman of the Board of King Abdullah City for Atomic and Renewable Energy, and Chairman of the Nuclear and Radiological Regulatory…

Business Russian President Vladimir Putin attends opening ceremonies for new Federal Service for the Oversight of Consumer Protection and Welfare (Rospotrebnadzor) facilities across Russia via video link at the Kremlin, in Moscow, Russia September 15, 2025. (Sputnik/Vyacheslav Prokofyev/Pool via Reuters)

Russia’s Putin Says Measures to Reduce Inflation Are Working, but Growth Needs Work

Russian President Vladimir Putin told a government meeting on Monday that measures to reduce inflation were working, but questioned whether more needed to be…

Business FILE PHOTO: The logo of TotalEnergies is seen at the Viva Technology conference at Porte de Versailles exhibition center in Paris, France, June 12, 2025. REUTERS/Benoit Tessier/File Photo

TotalEnergies Launches Final Phase of $27 Billion Iraq Energy Project

French oil major TotalEnergies has launched the second development phase at Iraq's Ratawi oilfield and has begun building an accompanying seawater treatment…

Asharq Al Awsat
Business US Treasury Secretary Scott Bessent speaks to the press, on the day of US-China talks on trade, economic and national security issues, in Madrid, Spain, September 15, 2025. (Reuters)

US, China Reach Framework Deal on TikTok; Trump and Xi to Speak on Friday

The United States and China reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a call between…

Business The Saudi National Bank building in the Financial District of Riyadh (Asharq Al-Awsat)

Dollar Sukuk: Saudi Banks’ Strategy to Attract Foreign Investors

Saudi banks are witnessing an unprecedented surge in sukuk issuances this year, with volumes soaring 98 percent compared to the same period in 2024. From…

Mohammed al-Mutairi (Riyadh)
Business Newly appointed France's Prime Minister Sebastien Lecornu attends a meeting as he visits the departmental health center in Macon, central eastern France, on September 13, 2025. (Photo by JEFF PACHOUD / AFP)

Fitch Downgrade Casts Shadow over New French PM's Budget Battles

Fitch's downgrade of France's credit rating has cast a pall over newly installed Prime Minister Sebastien Lecornu as he begins talks to draft a budget, while…

Asharq Al Awsat
Business Chinese President Xi Jinping speaks at the beginning of a bilateral meeting with Portuguese Prime Minister Luis Montenegro at the Great Hall of the People Tuesday, Sept. 9, 2025 in Beijing, China. (Lintao Zhang/Pool Photo via AP)

China's Xi Urges ‘Orderly Exit’ of Outdated Production Capacity 

Chinese President Xi Jinping has called for the "orderly exit" of outdated production capacity and the curbing of "disorderly" price competition, state-run…