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 The Saudi capital, Riyadh (Asharq Al-Awsat)

Riyadh’s New Land Platform Shakes Up Real Estate Market

Within days of its launch, the “Real Estate Balance Platform” has drawn overwhelming attention in Riyadh, quickly positioning itself as the preferred option…

Bandar al-Mosalam (Riyadh)
Business Running through the first quarter of 2026, the Saudi Winter program will be rolled out in multiple phases. SPA

Tourism Minister Launches Saudi Winter 2025 Program with Broad Private Sector Participation

Minister of Tourism and Chairman of the Board of Directors of the Saudi Tourism Authority Ahmed Al-Khateeb launched the Saudi Winter 2025 program at a ceremony…

Asharq Al Awsat (Riyadh)
Business  The "Blood Moon" is pictured during the beginning of a lunar eclipse above Cairo on September 7, 2025. (AFP)

Egypt Signs Oil and Gas Exploration Deals Worth More than $121 Million

Egypt signed three investment agreements worth more than $121 million for oil and gas exploration in the Western desert, Suez Gulf and north of Sinai, the…

Business Italy's Prime Minister Giorgia Meloni talks with Economy Minister Giancarlo Giorgetti, as she appears at the upper house of the Parliament in Rome, ahead of a European Union leaders' summit, in Rome, Italy, March 18, 2025. (Reuters)

Italy to Maintain GDP Growth Forecasts Despite US Tariffs

Italy plans to maintain forecasts for GDP growth of 0.6% this year and 0.8% in 2026 in the budget plan to be announced in the coming weeks, Economy Minister…

Business MP Peter Kyle who has been appointed to the role of Business Secretary walks towards 10 Downing Street, as part of a reshuffle by the British government following the resignation of Deputy Prime Minister Angela Rayner in London, Britain, September 5, 2025. (Reuters)

US Financial Firms Pledge $1.7 Billion to UK Ahead of Trump’s Visit

The British government on Saturday announced over 1.25 billion pounds ($1.69 billion) in fresh investment from major US financial firms, including PayPal ,…

Business Iraqi Prime Minister Mohammed Shia al-Sudani. (AFP file)

Foreign Investment in Iraq Reaches $100 Billion in Two Years

Iraqi Prime Minister Mohammed Shia al-Sudani said on Saturday that foreign investments in his country in the past two years have reached $100 billion in…

Asharq Al Awsat (Baghdad)
Business  Resident Waseem Ahmed stands by his partially damaged home, following monsoon rains and rising water levels of the Chenab River, in Seetpur, Punjab province, Pakistan, September 13, 2025. (Reuters)

IMF Says Pakistan’s Flood Spending, Budget Agility to Be Reviewed

The International Monetary Fund expressed deep condolences on Saturday for the loss of life caused by Pakistan's devastating floods and said its upcoming…

Business Flags of US and China are seen in this illustration picture taken August 2, 2022. REUTERS/Florence Lo/Illustration/File Photo

China Launches Discrimination and Dumping Probes into US Chips ahead of Trade Talks

China's Ministry of Commerce initiated an anti-discrimination investigation into US trade policy over chips on Saturday, as well as a separate investigation…

Asharq Al Awsat
Business A general view of a compound of the Basra Gas Company (BGC) is seen in Basra, southeast of Baghdad March 9, 2015. Picture taken March 9, 2015. REUTERS/Essam Al-Sudani /File Photo

IFC Signs $500 Million Investment Contract with Iraq's Basrah Gas

The World Bank's International Finance Corporation (IFC) signed a $500 million investment contract with Iraq's Basrah Gas Co. on Saturday. The deal cover…

Asharq Al Awsat
Business Rosneft's Russian-flagged crude oil tanker Vladimir Monomakh transits the Bosphorus in Istanbul, Turkey, July 6, 2023. REUTERS/Yoruk Isik//File Photo

Trump Presses NATO Nations to Halt Russian Oil Purchases

US President Donald Trump issued a letter to NATO nations on Saturday, urging them to stop buying Russian oil and impose major sanctions on Russia to end its…

Asharq Al Awsat
Business IMF mission chief for Saudi Arabia Amine Mati speaks at the 22nd Annual Conference of the Saudi Economic Association held in Jeddah. Asharq Al-Awsat

IMF Says Saudi Economy Making Tangible Progress in Achieving Vision 2030 Goals

The International Monetary Fund (IMF) has praised the remarkable progress made by the Saudi economy in its structural and economic reform path, which has…

Asma al Ghabri (Jeddah)
Business A view of Lebanon's Central Bank building in Beirut, Lebanon April 23, 2020. REUTERS/Mohamed Azakir/File Photo

Lebanon Central Bank Says Higher Global Interest Rates Complicate Eurobond Debt Restructuring

Lebanon's central bank warned on Friday that elevated global interest rates would complicate the country's efforts to restructure its international bonds,…

Asharq Al Awsat
Business Saudi Industry and Mineral Resources Minister Bandar Alkhorayef.

Saudi-South Africa Partnership Opens New Horizons for Trade, Investment

Saudi Arabia and South Africa are stepping up efforts to expand economic cooperation, with officials highlighting opportunities in renewable energy, mining,…

Ayat Nour (Riyadh)
Business The European Central Bank (ECB) is pictured prior to a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, Germany, on September 11, 2025. (AFP)

European Shares Slip as Healthcare Stocks Weigh, France in Focus 

European shares slipped in choppy trading on Friday, weighed by a drop in healthcare stocks, while investors also braced for Fitch's credit rating verdict on…

Business A person walks past closed shutters at an underground station on the final day of a tube strike in London, Britain, 11 September 2025. (EPA)

UK Economy Makes Weak Start to Second Half of the Year 

Britain's economy recorded zero monthly growth in July after a sharp drop in factory output, matching expectations for a slower start to the second half of…

Business The Saudi flag. Asharq Al-Awsat

Saudi Arabia Attracts 32 Million Tourists in Summer 2025, Marking 26% Record Growth

The Ministry of Tourism announced record-breaking results for the "Saudi Summer" program, as more than 32 million local tourists and those from abroad visited…

Asharq Al Awsat (Riyadh)
Business Lebanese President Joseph Aoun, left, heads a cabinet meeting, at the Presidential palace in Baabda, east of Beirut, Friday, Sept. 5, 2025. (AP Photo/Hussein Malla)

Lebanese Cabinet Grants License to Elon Musk's Starlink

Lebanon's cabinet granted a license to Starlink, the satellite internet firm led by billionaire Elon Musk, to provide internet services in the country, the…

Asharq Al Awsat (Beirut)
Business The "Blood Moon" is pictured during the beginning of a lunar eclipse above Cairo on September 7, 2025. (Photo by MOHAMMED ABED / AFP)

IMF Staff to Visit Egypt this Fall for Review of Lending Programs

The International Monetary Fund on Thursday underscored its plan to carry out a staff mission to Egypt this fall to review the country's progress on its IMF…

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

Saudi Arabia Provides Grant to Supply Syria with 1.65 Million Crude Oil Barrels

Under the directives of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince…

Asharq Al Awsat
Business Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration

Oil Prices Fall Nearly 1% on Oversupply and Weaker US Demand

Oil prices fell on Thursday, pressured by concerns over softening US demand and broad oversupply that offset threats to output from conflict in the Middle East…

Asharq Al Awsat
Business A robotic fueling arm pilot is pictured at Abu Dhabi National Oil Company (ADNOC) in a demonstration during a media tour in Abu Dhabi, United Arab Emirates, May 27, 2024. REUTERS/Rula Rouhana/ File Photo

ADNOC Transfers Stakes in Listed Units to International Arm XRG

Abu Dhabi National Oil Company (ADNOC) said on Thursday it has transferred its shareholdings in several of its listed subsidiaries to XRG. The state oil giant…

Asharq Al Awsat
Business A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/ File Photo

OPEC Sticks to Oil Demand Forecasts, Says Economy Doing Well

OPEC made no changes on Thursday to its relatively high global oil demand growth forecasts for this year and next, and said the world economy was maintaining a…

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

Gold Slips on Dollar Recovery, Eyes on US CPI Data

Gold dipped on Thursday, but held near record-highs above the $3,600 mark, as a modest recovery in the dollar and profit-taking pressured prices, while…

Asharq Al Awsat
Business The SDB headquarters (SPA)

Saudi Development Bank to Inject $8 Billion to Empower Citizens, Drive Growth

Saudi Arabia is pressing ahead with its Vision 2030 reform agenda, focused on empowering individuals, accelerating economic growth, and diversifying income…

Saeed al-Abyad (Jeddah)