Business

Türkiye Showcases Renewables Surge, but Leaves Coal Intact

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 Representation of cryptocurrencies are seen in this illustration taken September 10, 2025. (Reuters)

Crypto Dips on Democrat Midterm Wins, Binance Hack Dents Optimism

Cryptocurrencies briefly dipped on Wednesday as Democrats won majorities in both the Senate and House in the US midterm elections, a potential blow to an…

Business A view of Riyadh, Saudi Arabia. (Getty Images file)

Saudi Non-Oil Sector Expands for Seventh Straight Month

Saudi Arabia’s non-oil private sector continued to expand in October, with business activity and output growth accelerating despite a decline in the Riyad Bank…

Asharq Al Awsat (Riyadh)

Business FILED - 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. Photo: Sven Hoppe/dpa

Gold Drops More than 1% as Markets Assess Mideast Ceasefire Prospects

Gold prices fell on Thursday, weighed down by increased expectations of US Federal Reserve rate hikes this year as elevated oil prices stoked inflation worries…

Asharq Al Awsat
Business The European Parliament will vote on whether to cut EU tariffs on some US imports. CHARLY TRIBALLEAU / AFP/File

EU to Vote on Trump Tariff Deal -- but Eyes Rest of World

European Union lawmakers are on track to give a green light -- with conditions -- Thursday to the bloc's tariff deal with US President Donald Trump, which…

Asharq Al Awsat
Business A cargo ship operated by Cosco Shipping is docked at the foreign trade container terminal of Qingdao Port, operated by Shandong Port Group, in China's eastern Shandong province on March 25, 2026. (Photo by CN-STR / AFP)

China Shipping Giant Cosco Resumes Bookings to Some Gulf Countries

Chinese shipping giant Cosco said on Wednesday that it was resuming new bookings for container shipments to some Gulf countries, after a three-week suspension…

Asharq Al Awsat
Business People visit a mall in Doha on March 23, 2026. (Photo by AFP)

Qatar Emir Makes Minor Changes to QIA Board

Qatar's Emir Sheikh Tamim bin Hamad Al Thani issued a decree on Wednesday ⁠making minor changes to ⁠the board of the ⁠Qatar Investment Authority, while keeping…

Asharq Al Awsat (Doha)
Business A man fills his car with petrol at the petrol station in Port Dickson, Negri Sembilan, Malaysia, 25 March 2026. EPA/FAZRY ISMAIL

Oil Falls More Than 5% and World Shares Gain Over Possible de-escalation of Iran War

Oil prices fell more than 5% and world shares gained on Wednesday over the possibility of a de-escalation of the Iran war and negotiations between the United…

Asharq Al Awsat
Business A satellite image captured by Planet Labs shows oil infrastructure at Yanbu Port on Saudi Arabia’s Red Sea coast on March 4, 2026 (AFP)

Yanbu Port Secures 4 Million Barrels of Oil Per Day for Global Markets

Yanbu Port on the Red Sea has emerged as a vital hub for international trade, stepping in to stabilize global energy and commodity supplies amid the near-total…

Asharq Al Awsat (Riyadh)
Business 16 March 2026, Türkiye, Istanbul: Oil tankers and cargo ships transit the Bosphorus Strait in Istanbul. Photo: Tolga Ildun/ZUMA Press Wire/dpa

Türkiye Says its Mideast Oil Dependence Manageable at 10% Amid War

Türkiye's dependence on Middle East oil is at a "manageable" level of 10% of overall supplies and there are no supply problems at the moment despite the Iran …

Asharq Al Awsat
Business Fruit is displayed for sale inside a supermarket in London (Reuters)

UK Inflation Holds at 3% in February Ahead of Likely Iran War Jump

British consumer price inflation held at an annual rate of 3.0% in February, unchanged from January's rate, official figures showed on Wednesday, ahead of a…

Asharq Al Awsat (London)
Business PIF Governor Yasir Al-Rumayyan during a previous FII summit in Miami. (Asharq Al-Awsat)

Miami Hosts FII Summit on Wednesday, Eyes Role of Capital in Global Shifts

Miami will host the fourth FII PRIORITY summit from March 25 to 27 under the theme “Capital in Motion,” as global economic and geopolitical shifts accelerate…

Mosaed al-Zayani (Miami)
Business The group said it is working closely with clients and relevant stakeholders to monitor developments. Photo: ADES

Saudi ADES Suspends Some Offshore Rigs in the Gulf

Saudi Arabia’s ADES Holding Company announced it has temporarily suspended some of its offshore drilling rigs in the Gulf Cooperation Council due to ongoing…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: People walk on a zebra crossing in front of the buliding of Bank of Korea in Seoul, South Korea, July 14, 2016.  REUTERS/Kim Hong-Ji/File Photo

South Korea Seeks Omani Support on Oil, LNG

South Korean Foreign Minister Cho Hyun on Tuesday asked his ⁠Omani counterpart for support ⁠on crude oil ⁠and LNG supplies, Cho's office said, due to shipment…

Asharq Al Awsat (Seoul)
Business QatarEnergy's liquefied natural gas (LNG) production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar March 2, 2026. (Reuters)

QatarEnergy Declares Force Majeure on LNG Contracts

QatarEnergy declared on Tuesday force ‌majeure ‌on some ‌of ⁠its affected long-term ⁠LNG ⁠supply contracts, ‌with ‌counterparties…

Business A World Economic Forum (WEF) logo. AFP

Saudi Arabia Says World Economic Forum Postpones Jeddah Meeting

The World Economic Forum ⁠has postponed its Global ⁠Collaboration and Growth Meeting, originally ⁠set for April 22–23 in Jeddah, following consultations with…

Asharq Al Awsat (Jeddah)
Business FILE PHOTO: An MSC container ship crosses the Strait of Gibraltar from the Atlantic Ocean to the Mediterranean Sea, near the northern tip of the port of Tangier, Morocco, January 8, 2026. REUTERS/Amr Abdallah Dalsh

IMF: Conflict Casts Shadow on Morocco's Economic Growth

The International Monetary Fund has warned that in the near term, growth in Morocco would be impacted by the ongoing conflict in the Middle East. The…

Asharq Al Awsat (Washington)
Business Taipei 101 building, seen from a park in Taipei, Taiwan March 12, 2026. REUTERS/Ann Wang

Taiwan to Skip WTO Conference after Labeled 'Province of China'

Taiwan said on Tuesday it will skip a high-level World Trade Organization meeting for the first time following a dispute with host nation Cameroon over the…

Asharq Al Awsat
Business A fishing boat sails as the sun sets in the Arabian Gulf in the United Arab Emirates Monday, March 23, 2026. (AP Photo)

UAE Stocks Jump as US Postpones Strikes on Iran's Energy Sites

Stock markets in the United Arab Emirates rose on Tuesday, in line with oil prices, after US President Donald Trump postponed strikes on Iran's energy…

Asharq Al Awsat (Dubai)
Business  Apple CEO Tim Cook is seen on a big screen live broadcasting his speech at the opening of the China Development Forum 2026 held at the Diaoyutai State Guesthouse in Beijing on March 22, 2026. (AFP)

China Positions Itself as a Stable Economic Force Amid Global Uncertainty at Beijing Forum

Global corporate executives attending China's flagship annual business conference this week were reassured by leaders of the world's second-largest economy…

Business International Energy Agency Executive Director Fatih Birol, right, speaks with Australian Prime Minister Anthony Albanese in Canberra, Australia, Monday, March 23, 2026. (Lukas Coch/AAP Image via AP)

IEA: Australian Energy, Uranium Seen in Demand Post Iran Crisis

Australia is a crucial source of minerals, including for nuclear power, to help stave off a bigger supply shock than the world is currently facing in energy…

Asharq Al Awsat
Business 24 March 2026, Australia, Canberra: Australian Prime Minister Anthony Albanese and EU Commission President Ursula von der Leyen walk together after an address to Members and Senators during a joint sitting in the House of Representatives at the Parliament House in Canberra. Photo: Lukas Coch/AAP/dpa

Australia, EU Agree Sweeping New Trade Pact 8 Years in the Works

The European Union and Australia struck a long-awaited free-trade deal on Tuesday, while also agreeing to boost defense cooperation and access to rare earth…

Asharq Al Awsat
Business Saudi Arabia's capital Riyadh (SPA)

Policy Resilience and Transport Lifelines: Saudi Arabia’s Shield Against the Hormuz Crisis

As the world grapples with unprecedented turbulence fueled by the US-Israeli-Iranian confrontation, and as global supply chains reel from the closure of the…

Fatehelrahman Yousif (Riyadh)
Business epa12841568 People walk on the shore of the Gulf of Finland with the St. Petersburg Oil Terminal in the background on a sunny day in St. Petersburg, Russia, 22 March 2026. Temperatures in St. Petersburg, Russia's second largest city, reached eleven degrees Celsius.  EPA/ANATOLY MALTSEV

Oil Prices Ease and Stocks Jump after Trump Says Iran is Talking with the US, Despite Iran's Denials

Relief is ripping through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war…

Asharq Al Awsat
Business FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo/File Photo

EU-Mercosur Trade Deal to Apply Provisionally from May 1

The EU said Monday a free trade agreement with South American bloc Mercosur will provisionally enter into force on May 1 -- despite a pending court ruling on…

Asharq Al Awsat
Business Yanbu Commercial Port. SPA

Saudi Arabia’s Mawani Adds 5 Shipping Services

The Saudi Ports Authority (Mawani) said Monday that it has added five new maritime shipping services to enhance the connectivity of the Kingdom’s ports with…

Asharq Al Awsat (Riyadh)