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  Japanese Prime Minister Shigeru Ishiba delivers a speech during the welcome reception for the 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama, Kanagawa prefecture, south of Tokyo on August 20, 2025. (AFP)

Japan Proposes ‘Economic Zone’ Linking Indian Ocean to Africa, Seeks Greater Role in the Region

Japan’s Prime Minister Shigeru Ishiba on Wednesday proposed an economic zone connecting the Indian Ocean to Africa as the country seeks to play a greater role…

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

Gold Hovers Near Three-week Lows before Jackson Hole Summit

Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the minutes of the Federal Reserve's July meeting and the Jackson…

Asharq Al Awsat
Business Imported cars at Jubail Port in eastern Saudi Arabia. (Asharq Al-Awsat)

Vehicle Congestion at King Abdulaziz Port Prompts Urgent Action by Saudi Ports Authority

The Saudi Ports Authority (Mawani) has launched urgent measures to address growing congestion at King Abdulaziz Port in Dammam, particularly in areas…

Bandar al-Mosalam (Riyadh)
Business Tarek Al-Turki, Director of Solutions Engineering at Cisco Saudi Arabia (Cisco)

Cisco to Asharq Al-Awsat: Smart Networks are Driving Saudi Arabia’s Digital Transformation

As Saudi Arabia advances toward the ambitious goals of Vision 2030, targeting economic diversification and technological leadership, enterprise networks are…

Nassim Ramadan (London)
Business The Saudi flag. Asharq Al-Awsat

South Korea’s Rebellions to Set Up Unit in Saudi Arabia

South Korean artificial intelligence (AI) chip startup Rebellions Inc. said Tuesday it will establish a unit in Saudi Arabia as part of its push to enter the…

Asharq Al Awsat (Seoul)
Business The Elizabeth Tower at the Houses of Parliament is illuminated on VJ Day, as a tribute to those who served in WW2, in London, Britain, August 15, 2025. House of Commons/Handout via REUTERS

UK Inflation Rises to 3.8% in July

British consumer price inflation increased to 3.8% in July from 3.6% in June, official data showed on Wednesday. The Bank of England had forecast headline…

Asharq Al Awsat (London)
Business This photograph shows a view of Labubu elves, collectible plush toys designed by Hong Kong illustrator Kasing Lung as part of his series "The Monsters", displayed at a Pop Mart shop in Paris on August 17, 2025. (AFP)

Pop Mart CEO Says Labubu-Maker’s Revenue Could Hit Over $4 Bln This Year 

Pop Mart chief executive Wang Ning said on Wednesday his toy company was on track to meet its targeted revenue goal of 20 billion yuan ($2.78 billion) in 2025,…

Business An Iraqi man stands under an electricity transmission tower south of Hilla city on August 10, 2025, amidst rising temperatures, chronic water shortages and power cuts. (AFP)

Türkiye's Karpowership to Supply Iraq with up to 590 MW Electricity 

Floating power plant operator Karpowership has signed a deal to provide Iraq with up to 590 megawatts of electricity to stabilize its national grid, the…

Business FILE PHOTO: An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. REUTERS/Jason Lee/File Photo

Chinese PC Maker Lenovo to Set Up Regional Headquarters in Saudi Arabia

China's Lenovo Group announced plans on Tuesday to set up a regional headquarters (RHQ) in Saudi Arabia, aiming to strengthen its presence in the Middle East. …

Asharq Al Awsat (Riyadh)
Business A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo

Gold Edges up as Investors Await Fed Jackson Hole Conference

Gold prices edged up on Tuesday, supported by a softer dollar and Treasury yields, as investors hunkered down for Federal Reserve Chair Jerome Powell's…

Asharq Al Awsat
Business Mawani Adds MSC’s ‘North India to Middle East’ Shipping Service to Dammam King Abdulaziz Port

Mawani Adds MSC’s ‘North India to Middle East’ Shipping Service to Dammam King Abdulaziz Port

The Saudi Ports Authority (Mawani) announced the addition of MSC’s new “North India to Middle East” shipping service to King Abdulaziz Port in Dammam, aiming…

Asharq Al Awsat
Business A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier/File Photo

Oil Prices Fall as Ukraine Talks Raise Prospect of Sanctions Easing

Oil prices fell on Tuesday as traders weighed the possibility that talks between Russia, Ukraine and the US to end the war in Ukraine could lead to the lifting…

Asharq Al Awsat
Business A Labubu toy is placed at a host stand of a restaurant serving dessert in the shape of Labubu monster figurine, in Moscow, Russia June 27, 2025. (Reuters) 

China’s Pop Mart, Maker of the Labubu Doll, Says Profit Soars Nearly 400% in First Half 

China's Pop Mart, which has taken the world by storm with its ugly-cute Labubu doll, reported a nearly 400% first-half net profit on Tuesday on high demand for…

Business Hassan Abdalla, Governor of the Central Bank of Egypt (CBE) (Reuters) 

Sisi Extends Hassan Abdalla’s Term as Central Bank Governor for One Year

Egypt’s Official Gazette reported on Monday that President Abdel Fattah al-Sisi has renewed the mandate of Hassan Abdalla as acting governor of the Central…

Asharq Al Awsat (Cairo)
Business Officials are seen at Monday's meeting. (SANA)

Saudi Arabia, Syria Plan Joint ‘Fund of Funds’ to Expand Investments

Riyadh and Damascus are moving toward the establishment of a joint Saudi–Syrian investment fund, designed to serve as a central platform for structured, well…

Asharq Al Awsat (Riyadh)
Business A customer shops a grain aisle at New India Bazar, where most merchandise is imported from India and Canada, on Wednesday, Aug. 6, 2025, in Fremont, Calif. (AP)

S&P Affirms US 'AA+' Credit Rating, Cites Tariff Revenue 

S&P Global on Monday affirmed its "AA+" credit rating on the US, saying the revenue from President Donald Trump's tariffs will offset the fiscal hit from his…

Business Investors stayed on the sidelines on Asian markets Tuesday after Wall Street treaded water ahead of talks in the White House on ending the Ukraine war. STR / AFP

Asian Markets Cautious after Zelensky-Trump Talks

Asian markets were little changed Tuesday after Wall Street treaded water and US President Donald Trump held what he called "very good" talks with Ukrainian…

Asharq Al Awsat
Business Crown Prince Mohammed bin Salman received the Prime Minister of India Narendra Modi last April in Jeddah. (SPA)

Riyadh and New Delhi to Promote Roadmap for Economic, Investment Cooperation

India and Saudi Arabia are working diligently to establish a joint roadmap for fostering a dynamic partnership aiming at enhancing economic, investment, and…

Fatehelrahman Yousif
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 Gains on Soft Yields; Focus on Trump-Zelenskiy Meeting

Gold prices eked out gains on Monday, helped by lower US Treasury yields, while market players awaited US President Donald Trump's meeting with Ukrainian…

Asharq Al Awsat
Business A woman and a girl walk in a park in Beijing, China August 17, 2025. REUTERS/Maxim Shemetov

China Stocks Rally to Decade-high on Easing Tariff Tensions, Fund Rotation

China stocks closed at their highest level since 2015 on Monday, extending a months-long rally driven by easing trade tensions and abundant liquidity, while…

Asharq Al Awsat
Business FILE PHOTO: Two samples of wheat exposed to different levels of Ozone are seen at the UK Center for Ecology and Hydrology research site near Bangor, Britain, July 20, 2022. REUTERS/Phil Noble/File Photo

Egypt Procures Nearly 4 Million Tons of Wheat this Season

Egypt's government, often the world's top wheat importer, procured nearly 4 million metric tons of wheat during the now ended local harvest, an official told…

Asharq Al Awsat
Business The Japanese national flag and Nissan Motor Corporation's flag fly at the entrance of the company's global headquarters in Yokohama, Kanagawa Prefecture on July 30, 2025. (Photo by Kazuhiro NOGI / AFP)

Nissan Says Saudi Vision 2030 Aligns with its Vision on Electric Mobility

Nissan’s Global Chief Performance Officer Guillaume Cartier has stressed that the Gulf region, Saudi Arabia in particular, has a strategic importance that goes…

Mosaed al-Zayani (Riyadh)
Business The headquarters of the Capital Market Authority (CMA) in the Saudi capital Riyadh. Asharq Al-Awsat

Saudi Arabia: New Rules Regulating Foreign Investment in Main Market Enter Into Force

New rules regulating foreign investment in Saudi Arabia's main financial market have entered into force, allowing foreign individuals and companies to invest…

Asharq Al Awsat (Riyadh)
Business Adel Al-Juraid, CEO of Mitsubishi Power in Saudi Arabia (Asharq Al-Awsat) 

Mitsubishi Power: Saudi Arabia a Key Hub for Our Sustainable Energy Investments

Saudi Arabia has emerged as one of Mitsubishi Power’s most strategic global markets and a prime destination for its sustainable energy investments, in line…

Asharq Al Awsat (Riyadh)