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 Lebanon Finance Ministry Headquarters (National News Agency)

Lebanon Signals Caution as Finance Ministry Advances Recovery Strategy

Lebanon’s Finance Ministry is finalizing spending and revenue projections to complete the 2025 draft budget by the end of this month, aiming to submit it to…

Ali Zeineddine (Beirut)
Business A garment worker tailors clothes on a sewing machine at an apparel manufacturing unit in Bengaluru on August 25, 2025. (AFP)

Fitch Maintains Its Rating on India, Citing Strong Growth 

Credit-rating firm Fitch on Monday maintained its long-term foreign-currency issuer default rating on India at "BBB-", citing the country's strong economic…

Business FILE PHOTO: US Federal Reserve Chair Jerome Powell speaks during a press conference following the issuance of the Federal Open Market Committee's statement on interest rate policy in Washington, D.C., US, July 30, 2025. REUTERS/Jonathan Ernst/File Photo

Asian Shares Track Wall Street's Rally after Powell Hints at Rate Cuts

Asian shares advanced on Monday, tracking Wall Street’s rally after the head of the Federal Reserve hinted that cuts to interest rates may be on the way. Fed…

Asharq Al Awsat
Business A view of Cairo, Egypt. (Abdelfattah Farag)  

Egypt: Improved Economic Indicators Raise Expectations of Interest Rate Cuts 

Egypt’s business community is looking ahead with optimism to the Central Bank of Egypt’s (CBE) Monetary Policy Committee meeting on Thursday, hoping for…

Asharq Al Awsat (Cairo)
Business Saudi-Syrian Investment Forum highlights strategic opportunities across 12 key economic sectors. (SPA)

Saudi-Syrian Investment Forum Highlights Strategic Opportunities Across 12 Key Economic Sectors

The Federation of Saudi Chambers, represented by the Saudi-Syrian Business Council, organized on Sunday in Riyadh the first Saudi-Syrian Partnership and…

Asharq Al Awsat
Business Vehicles move during sunset in Beijing, China, Sunday, Aug. 24, 2025. (AP Photo/Mahesh Kumar A.)

Saudi Investment Minister Leads High-Level Delegation to China to Advance Strategic Economic Ties

Saudi Minister of Investment Khalid Al-Falih is leading a high-level delegation of senior government officials and prominent business leaders on an official…

Asharq Al Awsat (Riyadh)
Business A view shows the al-Shuaiba oil refinery in southwest Basra, Iraq April 20, 2017. REUTERS/Essam Al-Sudani/File Photo

Iraq Raises Refining Capacity to 1.3 Million bpd

Iraq has raised its oil refining capacity to 1.3 million barrels per day from 1.1 million bpd in 2024, the prime minister's office said in a statement on…

Asharq Al Awsat
Business FILE PHOTO: A worker wearing a face mask works on a production line manufacturing soybean-based food products at a factory in Hefei, Anhui province, China February 4, 2020. China Daily via REUTERS

China Says 'Rampant' US Protectionism Threatens Agricultural Ties

US protectionism is undermining agricultural cooperation with China, Beijing's ambassador to Washington said, warning that farmers should not bear the price of…

Asharq Al Awsat
Business 22 May 2024, Saxony, Schkeuditz: The logo of DHL is seen on a package in Saxony's DHL Hub. (dpa)

European Postal Services Suspend Shipment of Packages to US over Import Tariffs

The end of an exemption on tariff duties for low-value packages coming into the United States is causing a wide array of postal services to pause shipping as…

Business Indian Foreign Minister Subrahmanyam Jaishankar speaks to the media in Berlin, Germany, May 23, 2025. REUTERS/Annegret Hilse/ File Photo

India Says Trade Negotiations with US are Still Going On

India's foreign minister said on Saturday that trade negotiations with US are still going on but there are lines that New Delhi needs to defend. Indian goods…

Asharq Al Awsat
Business An Intel chip and a package with the logo are photographed in Berlin, Germany, 21 August 2025. (EPA)

US to Take 10% Equity Stake in Intel, in Trump’s Latest Corporate Move

President Donald Trump said on Friday the US would take a 10% stake in Intel under a deal with the struggling chipmaker that converts government grants into an…

Business People walk near fences on a street in Beijing, China, 22 August 2025. (EPA)

China Proposes Draft Rules on Internet Platform Pricing

China proposed rules for internet platform pricing on Saturday, seeking public comment after a raft of complaints by merchants and consumers of unfair or…

Business Canada's Prime Minister Mark Carney speaks at the Metis Major Projects Summit in Ottawa, Ontario, Canada August 7, 2025. (Reuters)

Canada to Remove Many Retaliatory Tariffs on US Goods, Says Carney

Canada will remove many retaliatory import tariffs on US goods and intensify contacts with the United States on striking a new trade and security relationship,…

Business Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)

Snapchat Strategy Backs Saudi Arabia’s Digital Economy, Tech Transformation

Snapchat has reaffirmed its commitment to Saudi Arabia’s digital transformation, unveiling a strategy that aligns closely with the Kingdom’s Vision 2030 goals…

Abdulhadi Habtor (Riyadh)
Business Tourists use umbrellas to shelter against the sun outside Hagia Sophia mosque during a hot summer day in Istanbul, Tuesday, Aug. 12, 2025. (AP)

Turkish Foreign Visitor Arrivals Drop 5% in July 

The number of foreign visitors arriving in Türkiye fell 5% from a year earlier to 6.97 million in July, tourism ministry data showed on Friday. That compared…

Business FILE PHOTO: 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 to Revalue Currency, Dropping Two Zeros in Bid for Stability, Sources Say

Syria will issue new banknotes, removing two zeros from its currency in an attempt to restore public confidence in the severely devalued pound, according to…

Asharq Al Awsat
Business Female unemployment saw a sharp decline, falling to 11.9 percent in Q4 2024 (SPA)

Saudi Women in 2024: Lower Unemployment, Higher Economic Participation

Saudi Arabia is witnessing a historic transformation in women’s empowerment, with their growing participation across sectors becoming a cornerstone of Vision…

Asharq Al Awsat (Riyadh)
Business King Abdullah Financial Center, Riyadh (Asharq Al-Awsat) 

Saudi Arabia Attracts 34 Global Firms to Establish Regional Headquarters in Three Months

Saudi Arabia continues to solidify its position as a leading investment hub, with 34 multinational companies securing licenses to establish their regional…

Asharq Al Awsat (Riyadh)
Business A collection of gemstones on display at an exhibition in Saudi Arabia. (SPA)

Saudi Arabia Tightens Oversight of Precious Metals, Gems Trade to Curb Money Laundering 

Saudi Arabia is stepping up scrutiny of its precious metals and gemstones sector as part of efforts to combat money laundering, with the government instructing…

Bandar al-Mosalam (Riyadh)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef during his meeting with Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Lieutenant General Eng. Kamel Abdulhadi Al-Wazir. (SPA)

Saudi Arabia, Egypt Discuss Bolstering Coordination and Economic Ties 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held talks in Riyadh on Thursday with Egyptian Deputy Prime Minister for Industrial…

Business The Kuwait national flag flies at half-mast as the country starts mourning the death of Kuwait's ruling Emir Sheikh Sabah al-Ahmad al-Sabah, in Kuwait City, Kuwait, September 29,2020. REUTERS/Stephanie McGehee

Kuwait’s Merged Warba-Gulf Bank Can Grow for 10 years without Capital Hike

The new Islamic banking entity resulting from the merger of Kuwait’s Warba Bank and Gulf Bank will be able to grow for about ten years without raising capital,…

Asharq Al Awsat
Business A meeting of the Saudi–Japanese Joint Business Council, attended by Minister Khalid Al-Falih and Japan’s Minister of Economy, Trade and Industry, January 2025 (Asharq Al-Awsat).    

Riyadh Gathers Delegation for Saudi–Japanese Investment Forum in Osaka

Saudi Arabia is preparing to take part in the upcoming Expo in Osaka, Japan, with a large delegation of senior officials and business leaders. As part of the…

Bandar al-Mosalam (Riyadh)
Business Employees at work in SABIC (The company’s website)

Restructuring Moves SABIC to Reclaim Ground in the Petrochemicals Race

The global petrochemicals industry is grappling with a wave of uncertainty. Sluggish economic growth in key markets, mounting geopolitical tensions, and trade…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: 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 Extends Gains amid Signs of Strong Demand

Oil prices extended gains on Thursday, bolstered by signs of strong demand in the US, with uncertainty over efforts to end the war in Ukraine also lending…

Asharq Al Awsat