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 FILE PHOTO: A melter places an ingot of 92.96 percent pure gold at a procession plant of the Olimpiada gold operation, owned by Polyus Gold International company, in Krasnoyarsk region, Eastern Siberia, Russia, June 30, 2015. REUTERS/Ilya Naymushin/File Photo

Gold Scales Four-month Peak, Silver at 14-year High

Gold hit a more than four-month high on Monday as US Federal Reserve interest rate cut bets this month and a softer dollar heightened bullion's allure, while…

Asharq Al Awsat
Business Ferries sail the Bosphorus in Istanbul, on August 29,2025, next to the 15 July Martyrs Bridge, known as Bosphorus bridge. (AFP)

Türkiye Economy Grew 4.8% in Q2, Above Expectations 

Türkiye’s economy grew by 4.8% in the second quarter, above expectations despite a prolonged monetary tightening effort, official data showed on Monday. …

Business (FILES) European Central Bank (ECB) President Christine Lagarde gestures as she addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 5, 2025. (Photo by Kirill KUDRYAVTSEV / AFP)

ECB's Lagarde Warns of Risk to World Economy Via Trump Interference on Fed

If US President Donald Trump removed Federal Reserve Chairman Jerome Powell or Fed governor Lisa Cook, then this would represent a "very serious danger for the…

Asharq Al Awsat
Business Saudi Minister of Communications and Information Technology Abdullah Alswaha and his Syrian counterpart Abdulsalam Haykal meet in Riyadh on Sunday. (SPA)

Saudi, Syrian Communications Ministers Discuss Boosting Technical Partnerships

Saudi Minister of Communications and Information Technology Abdullah Alswaha received his Syrian counterpart Abdulsalam Haykal in Riyadh on Sunday. Haykal is…

Business Al-Falih after signing the memorandum of understanding with the Belt and Road Office (Minister’s account on X). 

Saudi Investment Minister Signs MoU in Hong Kong to Attract Strategic Investments

Saudi Minister of Investment, Eng. Khalid Al-Falih, announced the signing of a memorandum of understanding with the Belt and Road Office of the Hong Kong…

Asharq Al Awsat (Hong Kong)
Business Officials are seen at Saturday's ceremony in Riyadh. (SPA)

Saudi Minister of Industry Launches 4th Edition of 1K Mile Program and Honors Winners

Saudi Minister of Industry and Mineral Resources and Chairman of the National Industrial Development and Logistics Program (NIDLP) Bandar Alkhorayef launched…

Business The Saudi Minister of Industry and Mineral Resources and his accompanying delegation during the visit to the US (SPA) 

Saudi Arabia Explores Investment Opportunities in US Industry, Mining Sectors

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef has concluded an official visit to the United States, where he led a high-level delegation…

Asharq Al Awsat (Riyadh)
Business A man uses an umbrella to protect himself from the rain in Beijing on August 27, 2025. (AFP)

China Manufacturing Activity Shrinks for Fifth Straight Month in August

China's manufacturing activity shrank for a fifth straight month in August, an official survey showed on Sunday, suggesting producers are waiting for further…

Business FILE PHOTO: Egyptians take pictures with the pyramids in the background as they visit the Grand Egyptian Museum on the southwestern outskirts of the capital Cairo, Egypt, June 2, 2025. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's GDP Grows 4.5% in 2024-25

Egypt's real gross domestic product grew by 4.5% in the 2024-25 financial year, up from 2.4% the previous year, Finance Minister Ahmed Kouchouk said on…

Asharq Al Awsat (Cairo)
Business SAN FRANCISCO, CALIFORNIA - AUGUST 29: Cars travel on the San Francisco – Oakland Bay Bridge on August 29, 2025 in San Francisco, California. Justin Sullivan/Getty Images/AFP

New $250 Visa Fee Risks Deepening US Travel Slump

A new $250 "visa integrity fee" imposed on travelers to the United States risks piling more pressure on the struggling travel industry, as overseas arrivals…

Asharq Al Awsat
Business Waves crash on the rocks while people gather on the shore near a construction site, as a new barrier is built to protect Alexandria's shoreline, on the Mediterranean coast, in Alexandria, Egypt, August 21, 2025. REUTERS/Amr Abdallah Dalsh

Egypt Signs $340 Mln Oil, Gas Exploration Deals with Global Firms

Egypt has signed four agreements with international firms worth more than $340 million to explore oil and gas in the Mediterranean and Nile Delta, the…

Asharq Al Awsat
Business People shop at the newly launched 'UNIQLO' apparel retailer store in Bangalore, India, 29 August 2025. EPA/JAGADEESH NV

India Will Not 'Bow Down,’ Trade Minister Says after US Tariffs

India will not "bow down" and instead focus on capturing new markets, trade minister Piyush Goyal said in his first public remarks since Washington imposed…

Asharq Al Awsat
Business FILE PHOTO: Kroger logo is seen in this illustration taken, February 11, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Fed’s Favorite Inflation Gauge Holds Steady Despite Trump’s Tariffs

The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s board-based tariffs, but a measure of underlying…

Asharq Al Awsat (Washington)
Business An employee transports 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/ File Photo

Gold on Track for Best Month in Four as Inflation Data Bolsters Rate Cut Bets

Gold prices held steady on Friday and were poised for their best monthly performance since April, as US inflation data reinforced expectations that the…

Asharq Al Awsat
Business (FILES) Tourists gather outside the Sacre-Coeur Basilica as they visit Montmartre hill in Paris on August 5, 2025. (Photo by Dimitar DILKOFF / AFP)

Inflation Cools in France and Italy, Steady in Spain

Inflation slowed in France and Italy and held steady in Spain in August, official data showed on Friday, as the European Central Bank weighs its next move on…

Asharq Al Awsat
Business A plant's gas tanks are seen at the desert road of Suez city north of Cairo, Egypt. (Reuters file photo)

Egypt Increases Gas Production as Two New West Delta Wells Go Online

Egypt's petroleum ministry said on Friday that two new wells in the deepwater West Delta have gone online, adding about 60 million cubic feet per day (mcfd) of…

Asharq Al Awsat
Business The eighth session of the Saudi-Russian Joint Committee in Moscow (Asharq Al-Awsat)

Saudi Arabia Lines Up Energy Deals Before Joint Russia Meeting

Saudi Arabia is preparing a raft of energy agreements to be signed at the upcoming session of the Saudi-Russian Joint Governmental Committee, set to convene in…

Bandar al-Mosalam (Riyadh)
Business A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo

Oil Prices Fall on Demand Concerns but Head for Weekly Gain

Oil prices fell on Friday but are set for a weekly gain, caught between expectations of lower demand as the end of summer nears in the United States, the world…

Asharq Al Awsat
Business The Saudi Minister of Industry and Mineral Resources has chaired a high-level roundtable meeting in partnership with the US Chamber of Commerce. SPA

Alkhorayef Chairs Business Roundtable to Strengthen Saudi-US Partnership

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has chaired a high-level roundtable meeting in North Carolina in partnership with the US…

Asharq Al Awsat
Business A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo

Oil Ticks Lower as End of Driving Season Looms, Druzhba Restarts

Oil prices edged lower on Thursday after rising in the previous session, pressured by expectations of lower US fuel demand at the end of the summer travel…

Asharq Al Awsat
Business The memoranda aim to enhance Syria’s technical capacity in the energy sector through the transfer of expertise and technology while creating new investment opportunities in oil and gas - SPA

Saudi Companies Sign Deals with Syria’s Ministry of Energy

Saudi companies signed an agreement and six memoranda of understanding with Syria’s Ministry of Energy during the Kingdom’s participation in the Damascus…

Asharq Al Awsat
Business Negotiations to merge Borouge and Borealis companies are going in a constructive and positive manner. WAM

ADNOC to Sell 3% Stake in Logistics and Services Unit via Bookbuild Offering

Abu Dhabi's ADNOC is selling an around 3% stake in its logistics and services unit through a bookbuild offering, it said on Thursday. The stake in ADNOC L&S,…

Asharq Al Awsat
Business A view shows 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/File Photo

Gold Hits Over One-month Peak on Lower Dollar; US Inflation Data in Focus

Gold prices rose on Thursday, hitting an over one-month high, as the dollar softened while investors hunkered down for Friday's US inflation data for cues on…

Asharq Al Awsat
Business US dollar banknotes are seen in this illustration taken March 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Dollar Edges Lower as September Fed Cut Bets Grow

The dollar fell on Thursday as traders added to bets that the Federal Reserve will cut interest rates next month after New York Fed chief John Williams…

Asharq Al Awsat