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 saleswoman shows gold bangles to a customer at a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 3, 2022. REUTERS/Rupak De Chowdhuri/File Photo

Gold Set for Third Weekly Loss amid Stronger Dollar, Reduced Fed Rate Cut Hopes

Gold prices held steady on Friday, but is poised for a third consecutive weekly loss pressured by a stronger dollar and diminished expectations for US rate…

Asharq Al Awsat
Business Clouds gather over the Bosphorus, with skyscrapers in the background, in Istanbul, Türkiye, July 31, 2025. (Reuters)

Turkish Manufacturing Sector Contracts Further in July, PMI Shows 

Türkiye's manufacturing sector lost further momentum in July, with muted demand leading to pronounced slowdowns in new orders and output, a survey showed on…

Business Eastern Province Governor, Industry Minister review model of new projects – SPA

Saudi Arabia Launches New Industrial Projects in Eastern Province

Saudi Arabia inaugurated new industrial projects in Dammam on Thursday, as Eastern Province Governor Prince Saud bin Naif opened two major facilities in the…

Asharq Al Awsat (Dammam)
Business A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Saudi Arabia: Non-Oil Activities Make up 49.7% of Revenue

Saudi Arabia’s non-oil revenues grew 7% in the second quarter of 2025, reaching 149.86 billion riyals ($39.9 billion), up from 140.60 billion riyals ($39.5…

Asharq Al Awsat (Riyadh)
Business Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak meet in Riyadh. (SPA)

Saudi, Russian Energy Ministers Discuss Oil Market Developments

Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak held a meeting in Riyadh to discuss recent developments in…

Asharq Al Awsat (Riyadh)
Business Riyadh, Saudi Arabia (Reuters)

Saudi Economy Grows 3.9% in Q2 on Broad Sector Gains

Saudi Arabia’s economy grew by 3.9% in the second quarter of 2025 compared to the same period a year earlier, according to flash estimates released by the…

Asharq Al Awsat (Riyadh)
Business Laptops of Taiwanese electronics maker MSI are displayed for sale at a computer market in Taipei on August 1, 2025. (AFP)

Trump Hits Dozens of Countries’ Goods with Steep Tariffs 

US President Donald Trump slapped steep tariffs on exports from dozens of trading partners including Canada, Brazil, India and Taiwan, pressing ahead with his…

Business The Saudi capital, Riyadh, on November 15, 2024. (Reuters)

Riyadh to Host CoMotion Global Event in Q4 2025 

The Saudi Conventions and Exhibitions General Authority (SCEGA) announced on Thursday that Riyadh will host the CoMotion Global event in the fourth quarter of…

Business A general view shows part of Jiutepec, Morelos state, Mexico July 30, 2025. REUTERS/Henry Romero

Trump Announces 90-day Negotiating Period with Mexico as 25% Tariff Rates Stay in Place

US President Donald Trump said Thursday that there would be a 90-day negotiating period with Mexico after a call with that country’s leader, Claudia Sheinbaum,…

Asharq Al Awsat
Business US President Donald Trump speaks after signing the VA Home Loan Program Reform Act at the White House in Washington, D.C., US, July 30, 2025. REUTERS/Evelyn Hockstein

Trump Escalates Trade War with Canada Following Palestine Stance

US President Donald Trump intensified his trade war with Canada a day ahead of his August 1 deadline for a tariff agreement, saying it would be "very hard" to…

Asharq Al Awsat
Business FILE PHOTO: A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo

Oil Dips as Market Weighs Trump Tariff Threats, Surprise US Stockbuild

Oil prices eased on Thursday as investors weighed the risk of supply shortages amid US President Donald Trump's push for a swift resolution to the war in…

Asharq Al Awsat
Business Boeing 737 aircraft (Company handout)

Boeing: Saudi Arabia Aims to Cement Role as Aviation Hub

Saudi Arabia is rapidly establishing itself as a leading regional hub in the global aviation industry, propelled by record passenger growth, historic aircraft…

Fatehelrahman Yousif (Riyadh)
Business An employee cuts clothing material for dresses at the apparel manufacturing unit at Bhiwandi in the Thane district of India's Maharashtra state on July 30, 2025. (AFP)

Trump Says US to Hit India with 25% Tariff Starting August 1

US President Donald Trump on Wednesday imposed a 25% tariff on goods imported from India starting August 1, as well as an unspecified penalty for buying…

Business A Boeing 737 aircraft (Boeing)

Eight Decades of Excellence: Boeing’s Journey in the Kingdom

President Donald J. Trump’s recent visit to Saudi Arabia spotlighted the enduring ties between the Kingdom and the United States, a relationship built on…

Fatehelrahman Yousif
Business Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)

Türkiye to Start Providing Syria with Natural Gas on Aug 2, Minister Says 

Türkiye will start providing Syria with natural gas from August 2, Energy Minister Alparslan Bayraktar told state-owned Anadolu news agency on Wednesday,…

Business A view of Earth from space. (Asharq Al-Awsat)

Saudi Arabia’s NSG: Kingdom Has What It Takes to Become Regional Hub for Space Technologies

Saudi Arabia is setting the foundation for a sovereign and integrated space economy, according to Martjin Blanken, CEO of Neo Space Group (NSG), a company…

Asma al Ghabri (Jeddah)
Business A view of the Saudi capital, Riyadh. (AFP)

IMF Raises Saudi Arabia’s Growth Forecast to 3.6% for 2025

The International Monetary Fund (IMF) has revised upward its forecast for Saudi Arabia’s economic growth in 2025 and 2026, citing expected increases in oil…

Asharq Al Awsat (Washington)
Business Saudi Arabia’s economy continues to grow, supported by resilient non-oil activities. (SPA)

Saudi Economic Council Reviews Progress in Vision 2030 Implementation

The Saudi Council of Economic and Development Affairs (CEDA) held a virtual meeting to evaluate the Kingdom’s economic performance and monitor the progress of…

Asharq Al Awsat (Riyadh)
Business The International Monetary Fund (IMF) logo is displayed outside its headquarters in Washington, DC, on October 8, 2022. (AFP)

IMF Nudges up 2025 Growth Forecast but Says Tariff Risks Still Dog Outlook

The IMF on Tuesday raised its global growth forecasts for 2025 and 2026 slightly, citing stronger-than-expected purchases ahead of an August 1 jump in US…

Business A saleswoman shows gold bangles to a customer at a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 3, 2022. REUTERS/Rupak De Chowdhuri/File Photo

Gold Steadies with Focus on US-China Talks, Fed Meeting

Gold prices held nearly steady on Tuesday as markets turned their focus to upcoming US-China talks and the Federal Reserve's policy decision. Spot gold…

Asharq Al Awsat
Business A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)

OPEC+ Panel Stresses Need for Full Compliance with Output Limits

An OPEC+ panel on Monday stressed the need for full compliance with oil production agreements, ahead of Sunday's separate gathering of eight OPEC+ members to…

Business A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Five Benefits of the New Foreign Property Ownership Law in Saudi Arabia

A newly updated property ownership law approved by Saudi Arabia’s cabinet earlier this month is expected to deliver five major benefits to the Kingdom’s real…

Mohammed al-Mutairi (Riyadh)
Business The initiative lays the foundation for long-term ambitions and reinforces Port of NEOM’s growing role in advancing Saudi Arabia’s maritime and logistics goals. (SPA)

Saudi Port of NEOM Halves Transit Time by over 50% via Regional Trade Corridor 

Saudi Arabia’s Port of NEOM conducted a successful pilot trial of a new strategic intra-regional corridor connecting key trading hubs in Saudi Arabia, Egypt,…

Business The new ventures are expected to generate more than 1,188 job opportunities across the Kingdom. (SPA)

Saudi Arabia Issues New Industrial Licenses Worth $253 Million

The Saudi Ministry of Industry and Mineral Resources issued 83 new industrial licenses in June, with total investments exceeding SAR 950 million (approximately…

Asharq Al Awsat (Riyadh)