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 Riyadh Air aircraft. (Amadeus)

Riyadh Air Signs Global Distribution Deal with Spain’s Amadeus to Fuel Expansion Plans

Riyadh Air, Saudi Arabia’s new national carrier and a wholly owned subsidiary of the Public Investment Fund, has signed a global distribution agreement with…

Asharq Al Awsat (Riyadh)
Business 08 August 2025, India, New Delhi: A shopkeeper reflected on a mirror waits for customers at a jewelry shop. (dpa)

Moody’s Warns US Tariffs May Hurt India’s Manufacturing Push, Slow Growth 

US President Donald Trump's steep 50% tariffs on Indian imports could severely undermine India's manufacturing ambitions and slow economic growth, Moody's…

Business The slogan of Maaden seen on its headquarters in Saudi Arabia (the company’s website) 

Saudi Arabia’s Maaden Posts 88% Surge in Profits on Strong Product Prices, Phosphate and Gold Sales

Saudi Arabian Mining Company (Maaden) reported a sharp rise in revenues and net profits for the latest quarter, outperforming both the previous quarter and the…

Asharq Al Awsat (Riyadh)
Business A man rides a bike on a street in Beijing, China, 04 August 2025.  EPA/WU HAO

S&P Affirms China's Sovereign Credit Rating at A+ with Stable Outlook

Ratings agency S&P Global on Thursday affirmed China's long-term credit rating at A+ and said its strong fiscal stimulus will keep economic growth resilient…

Asharq Al Awsat
Business File photo of the Israeli Leviathan field (Reuters)

Israel's Leviathan Signs $35 Billion Natural Gas Supply Deal with Egypt

Israel's Leviathan natural gas field has signed the largest export agreement in the country's history, worth up to $35 billion to supply gas to Egypt, NewMed,…

Asharq Al Awsat
Business FILE PHOTO A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/ File Photo

Oil Rises on US Demand Strength, Though Macroeconomic Uncertainty Looms

Oil prices rose on Thursday, recovering from a five-day losing streak, on signs of steady demand in the United States, the world's largest oil consumer,…

Asharq Al Awsat
Business Riyadh, Saudi Arabia (Reuters)

Vision 2030 Boosted Saudi Arabia’s Ability to Reassess Spending

Saudi Arabia's Ministry of Finance said the kingdom is now better equipped to reassess its spending priorities during times of economic uncertainty, crediting…

Hala Saghbini (Riyadh)
Business Gantry cranes are seen at the Port of Keelung in Keelung on August 7, 2025. (Photo by I-Hwa Cheng / AFP)

Trump's Higher Tariff Rates Hit Goods from Major US Trading Partners

President Donald Trump's higher tariff rates of 10% to 50% on dozens of trading partners kicked in on Thursday, testing his strategy for shrinking US trade…

Asharq Al Awsat
Business US. President Donald Trump meets with Indian Prime Minister Narendra Modi at the White House in Washington, DC, US, February 13, 2025. (Reuters)

Trump Imposes Additional 25% Tariff on Indian Goods, Relations Hit New Low

US President Donald Trump on Wednesday issued an executive order imposing an additional 25% tariff on Indian goods citing New Delhi's continued imports of…

Business A general view shows the main entrance of Damascus International Airport in Damascus, Syria, June 30, 2025. REUTERS/Stringer/File Photo

Syria Signs $14 billion in Investment Deals, Including Airport and Subway Projects

Syria signed 12 investment deals worth $14 billion on Wednesday in a ceremony attended by interim President Ahmed al-Sharaa, including infrastructure,…

Asharq Al Awsat
Business Saudi Crown Prince welcoming President of South Africa in Jeddah, October 2022 (SPA)

South Africa Eyes Electricity Interconnection with Saudi Arabia

South Africa has unveiled its ambition to establish an electricity interconnection with Saudi Arabia, as part of the growing cooperation between the two…

Fatehelrahman Yousif (Riyadh)
Business The season saw a revenue increase of over 50% - SPA

Second AlUla Summer Fruits Season Sees over 110% Increase in Sales Volume

The Royal Commission for AlUla has announced that the second edition of the Summer Fruits Season recorded a sales volume increase of over 110%, with more than…

Asharq Al Awsat
Business FILE PHOTO A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/ File Photo

Oil Rebounds on Trump Threats on Russian Crude Buyers

Oil prices rebounded from the previous session's five-week low on Wednesday, as traders focused on US President Donald Trump threatening India with higher…

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

Gold Inches Lower as Dollar Gains, Markets Await Fed Appointments

Gold prices edged lower on Wednesday due to a slightly firmer dollar, while investors held back from making big bets ahead of US President Donald Trump's…

Asharq Al Awsat
Business A worker performs checks at Türkiye’s Mediterranean port of Ceyhan on February 19, 2014. (Reuters)

Iraqi Exports via Türkiye’s Ceyhan Pipeline to Resume on Wednesday or Thursday 

Iraq's oil minister, Hayan Abdel-Ghani, said on Wednesday that oil exports through Türkiye’s Ceyhan pipeline will resume later on Wednesday or Thursday after a…

Business Türkiye's Finance Minister Mehmet Simsek addresses a press conference to unveil a savings measures package in Ankara, Türkiye, May 13, 2024. (Reuters)

Türkiye's Simsek Says Determined to Maintain Lasting Disinflation Process 

Türkiye's disinflation process is continuing in a determined manner that will bring inflation into single digits in two years, Treasury and Finance Minister…

Business  Engineers at work at Saudi Aramco. (Saudi Aramco)

Saudi Aramco Maintains Generous Payouts Despite Global Headwinds

Saudi Aramco has maintained substantial dividend payouts to shareholders, affirming its commitment to rewarding investors even during turbulent times and…

Abeer Hommadi (Riyadh)
Business A photo shows the Tesla logo on a charging station (Tesla Supercharger) in Chasse-sur-Rhone, central France, on June 6, 2025. (AFP)

Tesla Sales Fall More Than Half in Two of Europe’s Biggest Car Markets  

Tesla's new car registrations in Britain and Germany, Europe's biggest auto markets, more than halved in July from a year earlier, despite growth in the bloc's…

Business A general view of the solar panels pictured during an organized media tour at the Dunhuang Photovoltaic Industrial Park, in Gansu province, China October 16, 2024. (Reuters)

As China's Renewable Capacity Soars, Utilization Lags, Data Shows

China's renewable power potential in far-flung provinces is increasingly going unused, official statistics showed on Monday, as the country rushes to build…

Business  A view of the Jafurah Shale Gas Field. (Saudi Aramco)

Saudi Arabia Forges Ahead with Jafurah Shale Gas Field Development  

Saudi Aramco is pressing ahead with one of its most ambitious energy initiatives to date: the development of the Jafurah unconventional gas field, the largest…

Ayat Nour (Riyadh)
Business A ferry passenger looks at the port of Oakland, California, US, August 4, 2025. (Reuters)

US Trade Deficit Narrows to $60.2 Billion in June  

The US trade deficit narrowed in June on a sharp drop in consumer goods imports, the latest evidence of the imprint on global commerce President Donald Trump…

Asharq Al Awsat (Washington)
Business Saudi Mawani, Petrotank Sign Agreement to Establish Ship Refueling Hub at King Fahad Industrial Port 

Saudi Mawani, Petrotank Sign Agreement to Establish Ship Refueling Hub at King Fahad Industrial Port 

The Saudi Ports Authority (Mawani) and the National Petroleum & Petrochemical Tank & Pipelines Company (Petrotank) signed a land lease agreement to establish…

Business US President Donald Trump gestures as he jokes to reporters that he's planning to install nuclear missiles, on a with an architect and aides on the roof of the White House in Washington, DC, US, August 5, 2025. (Reuters)

Trump Says He Will Meet China’s Xi If a Trade Deal Is Struck

President Donald Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of…

Business Repsol oil refinery complex is seen during the sunset near Tarragona, Spain February 13, 2025. REUTERS/Nacho Doce/File Photo

Oil Slips as OPEC+ Output Hikes Counter Russia Disruption Concerns

Oil slipped about 1% on Tuesday as rising OPEC+ supply and worries of weaker global demand countered concern about US President Donald Trump's threats to India…

Asharq Al Awsat