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 The Saudi capital, Riyadh (SPA)

Saudi Arabia Advances Financial Market Development with Investment, Regulatory Reforms

Saudi Arabia is accelerating its efforts to build a comprehensive financial market, driven by substantial investments under the Vision 2030 blueprint, wide…

Asharq Al Awsat (Riyadh)
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Edges up as Investors await OPEC+, Tariff Talks

Oil prices were slightly higher on Tuesday as investors assessed expectations that OPEC+ will announce an output hike for August at an upcoming meeting as well…

Asharq Al Awsat
Business German Economy and Energy Minister Katherina Reiche attends a plenary session of the German lower house of parliament, the Bundestag, in Berlin, Germany June 25, 2025. REUTERS/ Nadja Wohlleben/ File Photo

Germany Lowers Gas Security Alert Level as Supply Bottlenecks Ease

The German government has lowered the gas supply security level to early warning grade from alarm level as supply bottlenecks eased, Economy Minister Katherina…

Asharq Al Awsat
Business The Ras al-Khair industrial city (SPA)

Saudi Arabia Approves New Regulations for Industrial Activities Outside Designated Zones

Saudi Arabia’s Ministry of Industry and Mineral Resources has approved a set of new requirements and regulations to govern industrial activities operating…

Asharq Al Awsat (Riyadh)
Business A view of homes and buildings in Abha, southern Saudi Arabia (Reuters)

Saudi Real Estate Market Surpasses $44 Billion in First Half of 2025

The Saudi real estate market recorded a decline in the total value of transactions and in the average price per square meter during the first half of 2025,…

Mohammed al-Mutairi (Riyadh)
Business Saudi PIF’s Assets Surge to Over SAR4.3 Trillion in 2024, Driven by Strong Revenues and Strategic Growth

Saudi PIF’s Assets Surge to Over SAR4.3 Trillion in 2024, Driven by Strong Revenues and Strategic Growth

Saudi Arabia’s Public Investment Fund (PIF) announced on Monday a significant increase of 18% in total assets, reaching SAR4,321 billion by the end of 2024, up…

Business Local people carry their things from damaged flats at the site of a rocket strike on a five-storey residential building on 23 June, in Kyiv, Ukraine, 24 June 2025. (EPA)

IMF to Provide Ukraine with $500 Million After Review

The International Monetary Fund said on Monday it has completed its eighth review of Ukraine's $15.5 billion four-year support program, paving the way for a…

Business  US Treasury Secretary Scott Bessent speaks to reporters after meeting with Senate Republicans at the US Capitol in Washington, DC, on June 24, 2025. (AFP)

Trump Complains about US-Japan Trade Talks as Bessent Warns of Higher Tariffs

President Donald Trump expressed frustration with US-Japan trade negotiations on Monday as Treasury Secretary Scott Bessent warned that countries could be…

Business Turkish Airlines (THY) aircraft are pictured on the tarmac of Istanbul Grand Airport in Istanbul, Türkiye May 23, 2023. REUTERS/Yoruk Isik/File Photo

Türkiye to Set Sustainable Aviation Fuel Mandates for Airlines, Suppliers

Türkiye will set mandates for airlines and jet fuel suppliers to boost uptake of sustainable aviation fuel, with a goal of reducing aviation emissions by 5% by…

Asharq Al Awsat
Business The Saudi capital, Riyadh (SPA) 

Saudi Arabia Boosts Appeal as Foreign Investment Inflows Surge 44%

Saudi Arabia is advancing rapidly toward its Vision 2030 goals, recording a notable surge in foreign direct investment (FDI) during the first quarter of this…

Asharq Al Awsat (Riyadh)
Business Saudi women employees carrying out their daily tasks at a workplace in the Kingdom (Asharq Al-Awsat) 

Saudi Women Propel Unemployment to Record Lows

Saudi Arabia has achieved the lowest unemployment rate in its history, dropping to 6.3% in the first quarter of 2025. The milestone was driven largely by the…

Ayat Nour (Riyadh)
Business A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT

Gold Rebounds From over One-month Low on Weaker Dollar

Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing US-China trade…

Asharq Al Awsat
Business Brand Finance valued ROSHN Group at over $1 billion, citing its strong financial and commercial performance, as well as its ambitious strategic and marketing initiatives. (SPA)

Saudi ROSHN Group Named One of World's 25 Most Powerful Real Estate Brands by Brand Finance

ROSHN Group, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has been ranked among the 25 most powerful real estate brands in the world by Brand…

Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and Inger Andersen, Executive Director of the United Nations Environment Program (UNEP) and Under-Secretary-General of the United Nations, meet in Riyadh on Sunday. (SPA)

Saudi Arabia, UNEP Sign MoU on Regional Emissions Cooperation, Global Climate Action

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz met in Riyadh on Sunday with Inger Andersen, Executive Director of the United Nations…

Business Saudi Red Sea Authority Regulates Coastal Tourism and Attracts Investments

Saudi Red Sea Authority Regulates Coastal Tourism and Attracts Investments

The Saudi Red Sea Authority (SRSA) launched a new media campaign on Sunday, highlighting its pioneering role in regulating and developing Saudi Arabia's…

Business A general view of the Nile River from the Egyptian capital, Cairo (Reuters).

Egyptian Firms Sign Final Contracts with Chinese Consortium to Build Chemical Plant

Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering…

Asharq Al Awsat
Business Maize planting and harvest season in one of Saudi Arabia’s provinces (File photo courtesy of SPA)

Saudi Arabia, IFAD Partner to Fight Hunger

Amid a widening global food gap and the mounting impacts of climate change, the International Fund for Agricultural Development (IFAD) has underscored the…

Fatehelrahman Yousif (Riyadh)
Business Tariffs on metal imposed by US President Donald Trump are hitting small businesses like Independent Can very hard. RYAN COLLERD / AFP

Trump Metal Tariffs Wreak Havoc on US Factory

In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape -- but tempers are also rising as their manufacturer grapples…

Asharq Al Awsat
Business The new service will operate three times per week, positioning the airport as the first in the Kingdom to offer direct connectivity to Haikou. (SPA)

Saudi Arabia’s King Abdulaziz Int’l Airport Launches First Hainan Airlines Flights

Saudi Arabia’s King Abdulaziz International Airport in Jeddah welcomed on Saturday the inaugural flight of China’s Hainan Airlines, marking the launch of the…

Business The initiative aligns with the goals of Saudi Vision 2030 to diversify the national economy, enhance international economic partnerships, and attract high-quality investments into Saudi Arabia. (SPA)

Saudi Investors Explore Investment Opportunities in Mauritania and Morocco

A high-level delegation from the Federation of Saudi Chambers is set to begin an official visit to Mauritania and Morocco on Sunday as part of efforts to…

Business 23 June 2025, United Kingdom, Nuneaton: Chancellor of the Exchequer Rachel Reeves talking to the media during a visit to Horiba Mira in Nuneaton, to mark the launch of the Government's Industrial Strategy. (Jacob King/PA Wire/dpa)

G7 Agrees to Avoid Higher Taxes for US and UK Companies

The United States and the Group of Seven nations have agreed to support a proposal that would exempt US companies from some components of an existing global…

Asharq Al Awsat
Business A protester shouts anti-euro slogans in front of signs reading 'Preserve Bulgarian Lev!' during an anti-Euro protest in Sofia, Bulgaria, Saturday 31, May 2025. (AP Photo/Valentina Petrova)

Thousands Protest Bulgaria's Euro Adoption and Call for Referendum

Days before Bulgaria was expected to become the 21st member of the eurozone, opponents of the move geared up Saturday for a final battle to change the schedule…

Asharq Al Awsat
Business Canadian Prime Minister Mark Carney speaks during a press conference during a NATO summit in The Hague, Netherlands June 25, 2025.  REUTERS/Toby Melville

Trump Says he’s Terminating Trade Talks with Canada over Tax on Tech Firms

President Donald Trump said Friday that he’s suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called “a…

Asharq Al Awsat
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Set for Steepest Weekly Decline in Two Years as Risk Subsides

Oil prices rose on Friday though were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran…

Asharq Al Awsat