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 view of the King Abdullah Economic City. (King Abdullah Economic City)

Saudi Arabia Restructures Foreign Property Ownership Rules in Economic Zones

Saudi Arabia has moved to overhaul regulations governing foreign ownership of real estate in its special economic zones, in a step seen as aligning the sector…

Bandar al-Mosalam (Riyadh)
Business FILE PHOTO: 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 Lifts 2026 Oil Demand View

The Organization of the Petroleum Exporting Countries (OPEC) raised estimates for world demand growth in 2026 by 100,000 barrels a day to 1.4 million a day, a…

Asharq Al Awsat (Vienna)
Business The sun sets behind burning gas flares at the Dora (Daura) Oil Refinery Complex in Baghdad on December 22, 2024. (AFP)

Iraq Considers Oil Exports via Lebanon’s Tripoli Port, to Study Reviving Iraq-Syria Pipeline

Iraq's oil ministry is considering exporting oil through Lebanon's Tripoli port and will study reviving the dormant Iraq-Syria oil export pipeline, it said on…

Business A mining site in Saudi Arabia (Ministry of Industry and Mineral Resources)

Saudi Arabia Jumps to 23rd in Global Mining Investment Ranking

Saudi Arabia’s mining sector has vaulted from 104th to 23rd place worldwide in the Fraser Institute’s 2024 Investment Attractiveness Index, marking its biggest…

Asharq Al Awsat (Riyadh)
Business A project by the Saudi Ministry of Municipal and Rural Affairs and Housing. (Asharq Al-Awsat)

Saudi Arabia Rolls Out Measures to Spur Property Use

Saudi Arabia on Sunday began enforcing an updated version of its “white land” tax, under directives from Prince Mohammed bin Salman, Crown Prince and Prime…

Bandar al-Mosalam (Riyadh)
Business Micron Technology's solid-state drive for data center customers is presented at a product launch event in San Francisco, US, October 24, 2019. Reuters 

‘Micron Technology’ Raises Forecast for Fourth-Quarter Revenue, Profit

Micron Technology on Monday raised its forecast for fourth-quarter revenue and adjusted profit, banking on surging demand for its memory chips used in…

Asharq Al Awsat (New York)
Business The Dar Global logo is seen at one of its projects. (Asharq Al-Awsat)

Dar Global Unveils $12.5 Billion Expansion Drive with Major Saudi Projects 

Dar Global, the London-listed real estate developer, announced on Monday strategic expansions into the broader capital markets, raising the Group’s Gross…

Asharq Al Awsat (London)
Business (FILES) Gold bullion can be seen after being removed from casts at the ABC Refinery smelter in Sydney on April 29, 2025. (Photo by DAVID GRAY / AFP)

Gold Edges Up with Focus on US Inflation Data

Gold prices nudged higher on Tuesday, after a sharp decline in the previous session, as investors looked forward to US inflation data that could offer further…

Asharq Al Awsat
Business People walk on a terrace of a shopping mall at the central business district (CBD), in Beijing, China August 11, 2025. (Reuters)

US and China Extend Trade Truce Another 90 Days, Easing Tension Between World’s Largest Economies 

President Donald Trump extended a trade truce with China for another 90 days Monday, at least delaying once again a dangerous showdown between the world’s two…

Business A worker cleans solar panels, a sustainable energy option that is gaining popularity among homes and farms for generating electricity (Reuters). 

Sustainable Finance: From Ethical Choice to a Key Driver of Profitability in Global Markets

As the world undergoes rapid economic and environmental transformations, sustainable finance has emerged as a central player in global markets, not merely as…

Ayat Nour (Riyadh)
Business An employee counts US dollar notes at a money changer in Jakarta, Indonesia, Thursday, Aug. 7, 2025. (AP Photo/Tatan Syuflana)

Dollar Slips before Inflation Report, US-China Tariff Deadline

The US dollar extended declines on Monday as investors watched for the outcome of events due this week, from Tuesday's key July US CPI data and deadline for…

Asharq Al Awsat
Business A person sits outside a McDonald's restaurant in Mumbai, India, February 26, 2024. (Reuters)

In India, Trump's Tariffs Spark Calls to Boycott American Goods 

From McDonald's and Coca-Cola to Amazon and Apple, US-based multinationals are facing calls for a boycott in India as business executives and Prime Minister…

Business A Zain store in Riyadh (SPA)

Saudi Telecom Revenues Near $7.2 Billion in Q2

Saudi Arabia’s listed telecommunications companies posted robust results in the second quarter of 2025, with both profits and revenues showing solid gains. …

Mohammed al-Mutairi (Riyadh)
Business FILE PHOTO: Nvidia logo is seen in this illustration taken, January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia, AMD to Pay 15% of China Chip Sale Revenues to US

Nvidia and AMD have agreed to give the US government 15% of revenue from sales to China of advanced computer chips like Nvidia's H20 that are used for…

Asharq Al Awsat
Business Revenue for Q2 grew by 24% to reach SAR27.7 billion - SPA

Saudi Electricity Company Reports 22% Net Profit Growth in Q2 2025

Saudi Electricity Company (SEC) continued to deliver robust financial and operational performance in the second quarter and first half of 2025, said an SEC…

Asharq Al Awsat
Business GASTAT: Saudi Industrial Production Index Rises by 7.9% in June 2025

GASTAT: Saudi Industrial Production Index Rises by 7.9% in June 2025

The Saudi Industrial Production Index increased by 7.9% in June 2025 compared to the same month the previous year, according to the Industrial Production Index…

Asharq Al Awsat
Business The workshop was attended by Japanese business leaders and potential investors - SPA

Saudi Business Center Promotes Investment Opportunities at Expo 2025 Osaka

The Saudi Business Center recently showcased its services at a workshop held at the Saudi pavilion during Expo 2025 Osaka in Japan, aiming to introduce the…

Asharq Al Awsat
Business A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt to Auction 550 Million Euros in One-year Euro-denominated T-bills

Egypt will auction 550 million euros ($640.15 million) in one-year euro treasury bills on Monday, the central bank said on Sunday. The bills will replace…

Asharq Al Awsat (Cairo)
Business An Iraqi farm (Iraq News Agency)

Saudi Arabia Encourages Firms to Tap Iraq’s New Import Decision

Saudi Arabia has moved to encourage domestic companies to take advantage of a new Iraqi decision allowing the import of certain agricultural products, sources…

Bandar al-Mosalam (Riyadh)
Business The headquarters of Saudi Arabia's ACWA Power in Riyadh. Asharq Al-Awsat

Kuwait Signs Contracts for Al-Zour North Power Plant Project

The Kuwait Authority for Partnership Projects (KAPP) signed contracts on Sunday with Saudi's ACWA Power and the Gulf Investment Corporation for phases two and…

Asharq Al Awsat (Kuwait)
Business An elderly woman walks along the embankment of Liangma river in Beijing, China August 9, 2025. REUTERS/Maxim Shemetov

China Reportedly Wants US to Relax AI Chip-export Controls for Trade Deal

China wants the United States to ease export controls on chips critical for artificial intelligence as part of a trade deal before a possible summit between…

Asharq Al Awsat
Business A floating photovoltaic solar installation in put in place on the Oued Rmel dam, as part of a solar pannel farm near the Tanger Med port in the province of Fahs-Anjra, west of the city of Tangiers on August 7, 2025. (Photo by Abdel Majid BZIOUAT / AFP)

World Bank's IFC Approves Oman Polysilicon Project Loan

The World Bank's International Finance Corporation on Friday approved a loan and investment worth up to $250 million in a polysilicon manufacturing project in…

Asharq Al Awsat (Washington)
Business Tourist walk near Houhai in Beijing, China, 07 August 2025. (EPA)

China’s July Factory-Gate Prices Miss Forecast, Deflation Concerns Persist

China's producer prices fell more than expected in July, while consumer prices were unchanged, underscoring the impact of sluggish domestic demand and…

Business Vendors selling vegetables wait for customers in a wholesale market in the old quarters of Delhi, India, August 7, 2025. REUTERS/Bhawika Chhabra

FAO: World Food Prices Rise to Two-year High in July

World food commodity prices rose in July to their highest in more than two years, driven by rising international prices for meat and vegetable oils, the United…

Asharq Al Awsat