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 The Saudi Council of Economic and Development Affairs discussed several issues, including the Ministry of Economy and Planning's quarterly report (SPA)

Saudi Council of Economic Affairs Reviews Local and Global Developments

The Saudi Council of Economic and Development Affairs has held a videoconference, reviewing the Ministry of Economy and Planning's quarterly report, which…

Asharq Al Awsat (Riyadh)
Business A beneficiary looks at a brochure for the Saudi Business Center (Asharq Al-Awsat)

Saudi Arabia Unifies Competitiveness, Business Under Agile Governance

Saudi Arabia is moving ahead with restructuring its institutional framework to keep pace with the speed of economic transformation after the Cabinet decided to…

Bandar al-Mosalam (Riyadh)
Business The International Monetary Fund logo is seen outside the headquarters building in Washington, US September 4, 2018. REUTERS/Yuri Gripas/File Photo

IMF Says Syria Ended 2025 with a Small Budget Surplus

The International Monetary Fund said on Wednesday that the Syrian government ended 2025 with a small budget surplus and that its revenue projections were…

Asharq Al Awsat
Business FILE PHOTO: Chevron-chartered Ionic Anax oil tanker sits anchored in Lake Maracaibo, near the Bajo Grande crude port operated by state oil company PDVSA, in Maracaibo, Venezuela, February 9, 2026. REUTERS/Marco Bello/File Photo

Oil Hovers Near Seven-month Highs Ahead of US-Iran Talks

Oil prices edged higher on Wednesday, as investors weighed the threat of military conflict between the US and Iran that could disrupt supply and a big build in…

Asharq Al Awsat
Business This handout picture made available by the Iraqi prime minister's office shows Iraq's Prime Minister Mohammed Shia al-Sudani (top C), Oil Minister Hayan Abdel-Ghani (top R), US Special Envoy to Iraq Tom Barrack (top L), Chevron's Director of Business Development Joe Koch (bottom L), Iraq's North Oil Company Director Amer Khalil (bottom C), and the Director of the Dhi Qar Oil Company Said Zghair Shallagha (bottom R) attending the signing of agreements between Chevron Corporation and the Dhi Qar and North Oil Companies at the government palace in Baghdad on February 23, 2026. (Handout / Iraqi Prime Minister’s Press Office / AFP)

Iraq’s West Qurna 2 Oilfield Poised for Output Surge with Chevron, Minister Says 

Iraq could nearly double its output from West Qurna 2 oilfield to 800,000 barrels per day as Chevron enters exclusive talks to take over operations from Russia…

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)

Germany Wants Deeper, Fairer Economic Ties with China, Merz Tells Li 

China and Germany want to deepen cooperation, German Chancellor Friedrich Merz and Chinese Premier Li Qiang said in Beijing on Wednesday, as Merz began a visit…

Business A woman passes by a gold shop in Hong Kong (AFP)

Gold Gains on Softer Dollar, Safe Haven Bid amid US Tariff Uncertainty

Gold prices rose on Wednesday, lifted by a softer dollar and heightened safe-haven demand amid uncertainty over US tariffs and rising friction between…

Asharq Al Awsat
Business Saudi women working at the Ministry of Interior. (Ministry of Interior)

Saudi Arabia Leads Region in Women’s Empowerment, Records Strongest Global Progress

Saudi Arabia has ranked first in the Middle East for women’s empowerment and recorded the highest global improvement in supportive frameworks, according to the…

Asharq Al Awsat (Riyadh)
Business Officials pose for a photo following the signing of the agreement between the Gulf Cooperation Council and India. (Asharq Al-Awsat)

GCC, India Launch Free Trade Agreement Negotiations  

The Gulf Cooperation Council (GCC) and India have formally launched negotiations for a free trade agreement (FTA), in a move officials described as a new…

Asharq Al Awsat (New Delhi)
Business The Saudi Telecom Company (stc) pavilion at the LEAP International Conference in Riyadh (Asharq Al-Awsat)

Saudi Telecom Sector Solidifies Leadership with $28 Billion in Revenue in 2025

Saudi Arabia’s telecommunications sector has reaffirmed the strength of its operating model and growth potential, reporting a solid rise in combined revenues…

Mohammed al-Mutairi (Riyadh)
Business A view of Kuwait City (AFP)

IMF: Kuwait Real GDP Will Expand by 3.8% in 2026

The International Monetary Fund has said that economic activity in Kuwait is “rebounding,” adding that real GDP will expand by 3.8 percent in 2026. In…

Asharq Al Awsat (Washington)
Business SAMI took part in the World Defense Show, which recently concluded in the capital Riyadh. (Asharq Al-Awsat)

SAMI CEO to Asharq Al-Awsat: Advancing Toward Integrated, Sovereign Saudi Defense Industry

The Saudi Arabian Military Industries (SAMI) is accelerating its push to deliver its 2030 strategy, aiming to anchor a sustainable national defense base built…

Mosaed al-Zayani (Riyadh)
Business A Riyadh Metro train carriage in the Saudi capital (SPA). 

From Two Hours to 30 Minutes: Qiddiya Bullet Train to Cut Riyadh Travel Time by 75%

Qiddiya is set to become significantly more accessible under plans to link the entertainment and tourism hub to King Salman International Airport and the King…

Asharq Al Awsat
Business Shipping containers at the port of Oakland following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Oakland, California, US, February 23, 2026. (Reuters)

New US Tariffs Come in at Lower 10% Rate 

The ‌United States imposed an additional tariff from Tuesday of 10% on all goods not covered by exemptions, a notice issued by US Customs and Border…

Business The Saudi capital, Riyadh (SPA) 

Saudi Arabia’s 2025 Budget: Record Non-Oil Revenues, Sustained Investment in Well-Being

Saudi Arabia closed the 2025 fiscal year with a strong economic performance underscoring the momentum of its national transformation drive and the resilience…

Asharq Al Awsat (Riyadh)
Business Flags fly over graves, including those of Russian soldiers killed during the conflict against Ukraine, on the eve of the fourth anniversary of the start of Russia’s military campaign, at Lemeshovo cemetery in the Moscow region, Russia, February 23, 2026. (Reuters)

Four Years into War, Russia’s Energy Revenues Drop but Oil Keeps Flowing 

The money ‌Russia earned from exporting oil and gas dropped over the last 12 months, even as the country's oil exports increased in volume, according to…

Business A driver of FedEx stands with packages near a delivery truck during Black Friday preparations in the Georgetown neighborhood of Washington, US, November 26, 2024. REUTERS/Benoit Tessier/File Photo 

FedEx Sues US for Refund on Trump's Emergency Tariffs

Global transportation company FedEx on Monday filed a lawsuit in the US Court of International Trade seeking a refund for President Donald Trump's emergency…

Asharq Al Awsat (New York)
Business People walk with the Suleymaniye Mosque in the background ahead of the holy month of Ramadan in Istanbul, Wednesday, Feb. 18, 2026. (AP)

Turkish Central Bank Total Reserves Fell Nearly $6 Bln Last Week, Bankers Say 

The Turkish Central Bank's total reserves are expected to have decreased by around $5.8 billion last week to $206 billion, due to a eurobond redemption,…

Business Russia relies on a shadow fleet of tankers to get past Western restrictions on its oil exports. Damien MEYER / AFP/File

Despite Drop in 2025, Russian Oil Exports Exceed Pre-war Volumes

While Russian oil exports dropped last year, Russia is still exporting higher volumes than before its invasion of Ukraine in 2022, researchers said Tuesday,…

Asharq Al Awsat
Business The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS/Christian Hartmann

European Oil and Gas Stocks Hit Record High, Surpassing 2007 Level

The European oil and gas stocks index hit a record high on Monday, surpassing a previous record hit in 2007, helped in recent weeks by a rise in the price of…

Asharq Al Awsat
Business Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo

Oil Hovers Near Six-month High with Nuclear Talks and US Tariffs in Focus

Oil prices steadied near a six-month high on Monday as the US and Iran prepared for a third round of nuclear talks while increased economic uncertainty was…

Asharq Al Awsat
Business A view of West Qurna oilfield is seen in Basra, southeast of Baghdad, March 29, 2014. (Reuters)

Chevron, Iraq Agree to Exclusive Talks Over West Qurna 2 Oilfield 

Chevron has entered into exclusive talks with Iraq over the giant West Qurna 2 oilfield, moving closer to acquiring the field from sanctioned Russian oil firm…

Business FILE PHOTO: Containers are loaded on freight trains at the railroad shunting yard in Maschen near Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo

EU Reportedly Set to Freeze US Trade Deal Approval Over Trump Tariff Risk

The European Union is poised to freeze the ratification process of its trade deal ‌with the ‌US and is ‌seeking ⁠more details from ⁠President…

Asharq Al Awsat