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 factory in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia’s Mandatory List Boosts Local Companies in Government Procurement

Saudi Arabia’s Mandatory List has emerged as a strategic lever to strengthen the role of local businesses in public sector procurement. Designed to drive…

Bandar al-Mosalam (Riyadh)
Business The Saudi and Russian ministers discuss means to promote mutual cooperation. (Saudi Ministry of Industry)

Saudi Arabia, Russia Seek to Deepen Economic and Industrial Ties

Saudi Arabia and Russia have stepped up efforts to strengthen their economic and industrial partnerships, as Minister of Industry and Mineral Resources Bandar…

Asharq Al Awsat (Yekaterinburg)
Business Jeddah Islamic Seaport. Photo: Mawani

Saudi Arabia: Mawani Reports Container Throughput Rises at Ports in June

The ports supervised by the Saudi Ports Authority (Mawani) recorded an 18.66% increase in handled containers in June, reaching 696,839 twenty-foot equivalent…

Asharq Al Awsat (Riyadh)
Business A worker makes copper trays inside a workshop in Kolkata, India, October 26, 2017. Picture taken October 26, 2017. (Reuters)

Trump Says Steep Copper Tariffs in Store as He Broadens His Trade War

US President Donald Trump on Tuesday said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and…

Business Gold rings are displayed in a gold shop in Chinatown in Bangkok, Thailand August 21, 2018. REUTERS/Soe Zeya Tun/File Photo

Gold Slips as US Bond Yields Rise, Investors Assess New Tariffs

Gold prices eased on Tuesday, weighed by higher US Treasury yields as US President Donald Trump announced new tariff proposals on trading partners, including…

Asharq Al Awsat
Business A drone view shows a portion of the crude oil tank farm in Midland, Texas, US June 11, 2025. REUTERS/Eli Hartman/File Photo

Oil Prices Ease as Traders Assess US Tariffs and OPEC+ Output Boost

Oil prices retreated on Tuesday, having climbed almost 2% in the previous session, as investors assessed the latest developments on US tariffs and a higher…

Asharq Al Awsat
Business Workers inspect imported stones at a marble factory in Kishangarh, in India's Rajasthan state on July 8, 2025. (Photo by HIMANSHU SHARMA / AFP)

UN Trade Agency: New Trade War Deadline Prolongs Instability

The Trump administration's decision to extend a negotiating deadline for tariff rates is prolonging uncertainty and instability for countries, the executive…

Asharq Al Awsat
Business The pavilion of the National Cybersecurity Authority at the World Defense Show 2024 (SPA)

Saudi Arabia Maintains Top Global Ranking in Cybersecurity Index

Saudi Arabia has retained its position as the world’s leading nation in the Cybersecurity Index, according to the World Competitiveness Yearbook 2025 released…

Asharq Al Awsat (Riyadh)
Business Digital Marketing Emerges as Engine of Economic Efficiency

Digital Marketing Emerges as Engine of Economic Efficiency

In an era increasingly defined by data and rapid technological transformation, digital marketing has evolved from a simple promotional tool into a core driver…

Ayat Nour (Riyadh)
Business Tourists take a souvenir photo as they visit the Temple of Heaven, in Beijing on June 15, 2025. (AP Photo/Andy Wong)

China Extends Visa-free Entry to More Than 70 Countries to Draw Tourists

Foreign tourists are trickling back to China after the country loosened its visa policy to unprecedented levels. Citizens from 74 countries can now enter China…

Asharq Al Awsat
Business GEOSA President Dr. Mohammed bin Yahya Al Sayel during the launch of the Geospatial Licensing and Permitting System. Photo: GEOSA

Saudi Arabia: GEOSA Launches Geospatial Licensing and Permitting System

The General Authority for Survey and Geospatial Information (GEOSA) has launched the Geospatial Licensing and Permitting System, an essential initiative…

Asharq Al Awsat (Riyadh)
Business After the US set a 25% tariff rate on Japan and South Korea, a Toyota sign is shown at a Toyota dealership in Tustin, California, US, July 7, 2025. (Reuters)

Japan, South Korea Hit with 25% Tariffs as Trump Ramps up Trade War in Letters to Leaders

US President Donald Trump on Monday began telling trade partners – from powerhouse suppliers like Japan and South Korea to minor players – that sharply higher…

Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at the Russian-Saudi Dialogue Forum on Monday. (SPA)

Alkhorayef Highlights Opportunities for Russian-Saudi Industrial Collaboration

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized on Monday the enduring strength of economic ties between Saudi Arabia and Russia…

Business FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold Falls to One-week Low as Dollar Firms after Tariff Deadline Extension

Gold prices retreated to a one-week low on Monday as the dollar firmed and traders digested US President Donald Trump's extension of his July 9 tariff deadline…

Asharq Al Awsat
Business 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 Rises as Tight Market Supports despite Big OPEC+ Hike

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of US tariffs, with…

Asharq Al Awsat
Business The Bank of Israel building in Jerusalem - Reuters

Bank of Israel Keeps Rates on Hold as Inflation Stays Just Above Target Range

The Bank of Israel left short-term interest rates unchanged on Monday citing "geopolitical uncertainty" and saying inflation remained above the target range…

Asharq Al Awsat
Business Photo by SPA

Saudi Arabia Participates in UNCITRAL Annual Session in Vienna

The United Nations Commission on International Trade Law (UNCITRAL) has opened its 58th annual session in Vienna, Austria, with the Kingdom represented by an…

Asharq Al Awsat
Business 3D printed miniatures of US President Donald Trump and Elon Musk, and Tesla logo are seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration

Tesla Shares Fall as Musk's 'America Party' Riles Investors

Tesla shares fell over 3% on Monday, under pressure from investor concerns about the focus of boss Elon Musk after he announced he would form a new US…

Asharq Al Awsat
Business North Korea has barred Western influencers from joining tourists to an international trade fair, a China-based tour operator said. STR / KCNA VIA KNS/AFP

North Korea Bars Western Influencers from Trade Fair Tour

North Korea has barred Western influencers from joining a delegation of tourists to an international trade fair in October, a China-based tour operator told…

Asharq Al Awsat
Business Saudi Commerce Ministry headquarters in Riyadh (SPA)

Saudi Arabia: Commercial Licenses Reach 1.7 Million in Q2

Saudi Arabia issued more than 80,000 new commercial registrations in the second quarter of 2025, bringing the total number of active business licenses across…

Asharq Al Awsat (Riyadh)
Business A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, July 2, 2025. (AP Photo/Ahn Young-joon)

Asian Markets Drop as Trump's Tariff Deadline Looms

Most Asian markets fell Monday as countries fought to hammer out trade deals days before Donald Trump's tariff deadline, though investors took heart after he…

Asharq Al Awsat
Business The sun sets behind the Petronas Twin Tower in Kuala Lumpur, Malaysia, Monday, June 30, 2025. (AP Photo/Vincent Thian)

French Companies Seek to Invest $947 Million in Malaysia

Several French companies seek to invest a total of 4 billion ringgit ($947 million) in Malaysia after a trade delegation led by Prime Minister Anwar Ibrahim…

Asharq Al Awsat (Kuala Lumpur)
Business Russian Foreign Minister, Sergei Lavrov, Abu Dhabi Crown Prince, Khalid bin Mohamed bin Zayed al-Nahyan, Indonesian President, Prabowo Subianto, South African President, Cyril Ramaphosa, Brazilian President, Luiz Inacio Lula da Silva, Indian Prime Minister, Narendra Modi, Chinese Prime Minister, Li Qiang, Ethiopian Prime Minister, Abiy Ahmed, Egyptian Prime Minister, Mostafa Madbouly, and Iranian Foreign Minister, Abbas Araghchi pose during the opening of the BRICS summit in Rio de Janeiro, Brazil, 06 July 2025.  EPA/ANDRE COELHO

BRICS Group Condemns Increase of Tariffs in Summit Overshadowed by Middle East Tensions

The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming US President Donald Trump. The…

Asharq Al Awsat
Business US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo

US Close to Several Trade Deals, Announcements to be Made in Next Days, Bessent Says

The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent said on…

Asharq Al Awsat