Business

Tech Hit by New AI Worries on Positive Day for Most Markets

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 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 FILE PHOTO: A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/File Photo

OPEC+ Agrees to Raise Output by 206,000 bpd

The eight OPEC+ countries on Sunday agreed to a modest oil output boost of 206,000 barrels per day for April, a decision framed as a response to steady market…

Asharq Al Awsat (Vienna)
Business FILE PHOTO: A map showing the Strait of Hormuz and Iran is seen behind a 3D printed oil pipeline in this illustration taken June 22, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Barclays Says Brent Crude Oil Could Reach $100 a Barrel

Barclays boosted its Brent crude oil futures price forecast to around $100 per barrel on Saturday, up from $80 on Friday, after the United States and Israel…

Asharq Al Awsat
Business Markets are anticipating movements in oil prices after the American-Israeli attack on Iran (Reuters)

Oil Prices Set for Swings Next Week as US-Israel Strikes Raise Supply Uncertainty

Oil markets currently closed for the weekend are set to see price swings next week as the impact from the US and Israeli strikes on oil supplies from the…

Asharq Al Awsat
Business The gas platform for Leviathan, Israel's largest gas field is seen from a helicopter near Haifa bay, northern Israel, August 1, 2023. REUTERS/Ari Rabinovitch

Israel Shuts Down Gas Fields After US-Israel Strikes on Iran

The Israeli Energy Ministry has ordered the temporary shutdown of parts of the country's natural gas reservoirs after Israel and the United States launched…

Asharq Al Awsat
Business Smoke rises following an Iranian drone attack on Erbil airport in Erbil, Iraq, 28 February 2026.EPA/GAILAN HAJI

Emirati Firm Suspends Supplies from Major Iraq Gas Complex

Emirati company Dana Gas has suspended natural gas supplies from a major gas complex in northern Iraq amid the regional escalation, said authorities in Iraq's…

Asharq Al Awsat
Business A warship of the "Revolutionary Guard" launches a missile during maneuvers in the Strait of Hormuz (Sepah News)

Some Oil Majors, Traders Suspend Shipments via Hormuz amid US Attack on Iran

Some oil majors and top trading houses have suspended crude oil and fuel shipments via the Strait of Hormuz amid ongoing US and Israeli attacks on Iran and…

Asharq Al Awsat
Business FILE PHOTO: Representation of bitcoin cryptocurrency in this illustration created on September 10, 2025. REUTERS/Dado Ruvic/Illustration//File Photo

Cryptocurrencies Slip as US, Israel Attack Iran

Cryptocurrencies dipped in weekend trading after the US and Israel said they ⁠had attacked Iran⁠. Bitcoin fell 2% to just below $64,000 and ether slid…

Asharq Al Awsat
Business People walk through Shinjuku shopping district in Tokyo, Japan, 27 February 2026. EPA/FRANCK ROBICHON

Japan Signals Greater Vigilance Over Yen's Weakness

Japanese Finance Minister Satsuki Katayama on Friday signaled heightened vigilance over currency moves, telling parliament the government is monitoring the yen…

Asharq Al Awsat (Tokyo)
Business Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

China Encourages Dollar Buying to Slow Surging Yuan

China's central bank (PBOC) moved to rein in the fast-rising yuan on Friday, scrapping risk reserves requirements for forex forward contracts in a move that…

Asharq Al Awsat (Beijing)
Business FILE PHOTO: A flame burning natural gas is seen at an heavy-crude treatment plant operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Cabrutica at the state of Anzoategui April 16, 2015. Picture taken on April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo

Oil Prices Rise 3% as US and Iran Extend Talks into Next Week

Oil prices rose around 3% on Friday as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks. …

Asharq Al Awsat
Business FILE - Kristalina Georgieva, Managing Director of the International Monetary Fund, attends the Annual Meeting of the World Economic Forum in Davos, Switzerland, Jan. 23, 2026. (AP Photo/Markus Schreiber, File)

IMF Approves $8.1 Billion Loan for Ukraine, with $1.5 Billion to Go Immediately

The International Monetary Fund's executive board on Thursday approved an $8.1 billion, four-year loan for Ukraine, with $1.5 billion to be disbursed…

Asharq Al Awsat
Business An AviLease plane. Asharq Al-Awsat

Saudi Arabia’s AviLease Reports $664 Million in Revenues in 2025

AviLease, the global aircraft leasing company headquartered in Riyadh, has reported a strong performance, saying it recorded in 2025 total revenues of $664…

Asharq Al Awsat (Riyadh)
Business Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo 

Global Debt Climbs to Record $348 Trillion At End of 2025

Global debt climbed to a record $348 trillion at the end of 2025, after nearly $29 trillion was added over the year in the fastest yearly build-up since the…

Asharq Al Awsat (Washington)
Business The Saudi central bank. Asharq Al-Awsat

Saudi Central Bank's Net Foreign Assets Rose by $15.61 Billion in January

The Saudi central bank's net foreign assets rose ‌by ‌about $15.61 billion ‌in ⁠January, central bank data ⁠showed on Thursday. Net foreign …

Asharq Al Awsat (Riyadh)
Business Jeddah Islamic Port (SPA)

Saudi Privatization Strategy Lifts Logistics Development

The launch of the National Privatization Strategy at the end of last month marked a decisive shift toward a sustainable, private sector-led model across Saudi…

Asharq Al Awsat (Riyadh)
Business This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)

Aramco’s Gas Strategy Builds Momentum with Major Progress Towards Growth Target

Aramco announced Thursday major progress in its ambitious gas expansion strategy, with the start of production at Jafurah, the Middle East’s largest…

Asharq Al Awsat
Business A worker examines pipe valves connected to oil tanks at the Turkish Ceyhan port on the Mediterranean Sea (Reuters)

Oil Prices Slip about 1.5% on High US Crude Stocks, US-Iran Positivity

Oil prices fell on Thursday after the biggest jump in US crude inventories in three years, with signs of weakness in the physical oil market also weighing on…

Asharq Al Awsat
Business Chinese Premier Li Qiang welcomes German Chancellor Friedrich Merz with military honors in the Great Hall of the People in in Beijing, China, February 25, 2026. (Reuters)

Merz Says Germany, China Must Overcome Trade Gaps 'Together'

German Chancellor Friedrich Merz ended his two-day visit to China on Thursday in the tech hub of Hangzhou, identifying "challenges that we must overcome…

Asharq Al Awsat
Business The headquarters of the European Bank for Reconstruction and Development in London (Reuters)

EBRD: Trump Tariff Turmoil Yet to Dent Emerging Countries' Growth

US tariffs have rerouted trade, but not dented it as much as feared, allowing larger-than-expected economic growth in certain developing markets, the European…

Asharq Al Awsat (London)
Business  Jeddah Islamic Port (SPA) 

Saudi Arabia Records Highest Quarterly Non-Oil Exports Since 2017

Saudi Arabia recorded its highest quarterly level of non-oil exports since 2017 in the fourth quarter of 2025, highlighting a significant structural shift in…

Asharq Al Awsat (Riyadh)
Business Thousands of Muslim students break their fast during the Muslim holy fasting month of Ramadan, at a free meal distributing point in Al-Azhar mosque in Cairo, Egypt, Wednesday, Feb. 25, 2026. (AP Photo/Ahmed Yosri )

IMF Unlocks Around $2.3 Billion for Egypt

The International Monetary Fund (IMF) has unlocked around $2.3 billion for Egypt after its latest program reviews, it said on Wednesday. Egypt secured an…

Asharq Al Awsat (Washington)
Business FILE PHOTO: US President Donald Trump shakes hands with US Vice President J.D. Vance as US House Speaker Mike Johnson (R-LA) applauds during Trump's State of the Union Address in the House Chamber at the US Capitol in Washington, D.C., US, February 24, 2026.  REUTERS/KEVIN LAMARQUE/File Photo

IMF Urges US to Work with Partners to Ease Trade Restrictions

The IMF on Wednesday called on the United States to work with trading partners and find ways to mutually ease trade curbs, as it issued a review of the world's…

Asharq Al Awsat