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 Rice products at a commercial market in Saudi Arabia (SPA)

Mexico Eyes Trade Expansion, Targets Saudi Market with Premium Rice Exports

Mexico is preparing to expand its trade ties with Saudi Arabia by exporting high-quality rice to the Kingdom, sources told Asharq Al-Awsat. They said…

Bandar al-Mosalam (Riyadh)
Business People run to catch a tram in the coastal city of Alexandria, on February 18, 2026. (Photo by Khaled DESOUKI / AFP)

Capricorn Energy Sees Production Boost, Driven by Growth in Egypt

Oil producer Capricorn Energy said on Monday it expects higher production in 2026 compared with last year, supported by the expansion of its Egypt operations. …

Asharq Al Awsat
Business LOS ANGELES, CALIFORNIA - FEBRUARY 20: Shipping containers stand stacked while others rest on truck transport chassis at the Port of Los Angeles on February 20, 2026 in Los Angeles, California. Mario Tama/Getty Images/AFP

US to Stop Collecting Tariffs Deemed Illegal by Supreme Court on Tuesday

The US Customs and Border Protection agency said it will halt collections of tariffs imposed under the International Emergency Economic Powers Act at 12:01 a.m…

Asharq Al Awsat (Washington)
Business A vendor displays gold bracelets for sale in a gold shop at the Grand Bazaar in Istanbul (AFP)

Gold Climbs to 3-week High as US Tariff Ruling Stokes Uncertainty

Gold climbed to a three-week high on Monday as uncertainty stoked by the US Supreme Court's decision to strike down a vast swathe of President Donald Trump's…

Asharq Al Awsat
Business FILE PHOTO: US President Donald Trump speaks during a press briefing at the White House, in Washington, D.C., US, February 20, 2026. REUTERS/Kevin Lamarque/File Photo

EU Says US Must Honor a Trade Deal after Court Blocks Trump Tariffs

The European Union's executive arm requested “full clarity” from the United States and asked its trade partner to fulfill its commitments after the US Supreme…

Asharq Al Awsat
Business GCC countries continued to record GDP growth, supported by economic diversification programs and fiscal reforms (Oman News Agency).

GCC GDP Jumps to $2.3 Trillion

A statistical report published on Sunday showed that the economies of the Gulf Cooperation Council countries recorded growth in gross domestic product,…

Asharq Al Awsat
Business Mature spring wheat awaits harvest on a farm near Beausejour, Manitoba, Canada August 20, 2020. REUTERS/Shannon VanRaes/File Photo

Algeria Tenders to Buy Nominal 50,000 Metric Tons Soft Milling Wheat

Algeria's state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said on…

Asharq Al Awsat
Business Brazilian President Luiz Inacio Lula da Silva gestures during a press conference in New Delhi, India, February 22, 2026. REUTERS/Adnan Abidi

Brazil's Lula Urges Trump to Treat All Countries Equally

Brazil's President Luiz Inacio Lula da Silva on Sunday urged Donald Trump to treat all countries equally after the US leader imposed a 15 percent tariff on…

Asharq Al Awsat
Business A man cuts meat at a local restaurant in Karachi (EPA)

IMF Acknowledges Economic Turnaround in Pakistan

The International Monetary Fund (IMF) has acknowledged a marked improvement in Pakistan's economic outlook, stating that policy efforts under its Extended Fund…

Asharq Al Awsat (Islamabad)
Business Brazilian President Lula da Silva and Indian Prime Minister Narendra Modi before a meeting at Hyderabad House in New Delhi on February 21, 2026 (EPA)

India, Brazil Sign Agreement to Boost Cooperation on Rare Earths, Cut Dependence on China

India and Brazil sealed a deal Saturday on critical minerals and rare earths following a meeting in New Delhi between Prime Minister Narendra Modi and…

Asharq Al Awsat (New Delhi)
Business US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, DC, US, February 20, 2026. (Reuters)

Trump Says He Will Raise US Global Tariff Rate from 10% to 15%

President Donald Trump said on Saturday he will raise temporary tariffs on almost all US imports from 10% to 15%, the maximum level allowed under the law,…

Business  Shoppers crowd for the upcoming Chinese Lunar New Year celebrations at the Dihua Street market in Taipei, Taiwan, Sunday, Feb. 15, 202. (AP)

Asian Economies Weigh Impact of Fresh Trump Tariff Moves, Confusion

US trading partners in Asia started weighing fresh uncertainties on Saturday after President Donald Trump vowed to impose a new tariff on imports, hours after…

Business Brazil's President Luiz Inacio Lula da Silva (L) and Indian Prime Minister Narendra Modi are expected to discuss efforts to increase trade links. Ludovic MARIN / AFP/File

Brazil, India Eye Critical Minerals Deal as Leaders Meet

India's Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva are set to meet in New Delhi on Saturday, seeking to boost cooperation…

Asharq Al Awsat
Business Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud and Turkish Energy and Natural Resources Minister Alparslan Bayraktar attend the signing of a power purchase agreement between Türkiye and ACWA Power in Istanbul on Friday (photo from the Turkish minister’s account on X).

Türkiye, Saudi Arabia Sign Comprehensive Power Purchase Agreement

Türkiye’s Energy and Natural Resources Ministry signed a comprehensive power purchase agreement with Saudi energy giant ACWA Power to develop solar power…

Saeed Abdulrazek (Ankara)
Business FILE PHOTO: European Central Bank (ECB) President Christine Lagarde reacts during an address to the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, December 18, 2025. REUTERS/Heiko Becker/File Photo

Lagarde Dampens ECB Exit Talk, Expects to Finish her Term

European Central Bank President Christine Lagarde has attempted to calm speculation about her stepping down early that has called into question the central…

Asharq Al Awsat
Business Donald Trump has deployed warships, fighter jets and other military hardware to the Middle East as he puts pressure on Iran. Hannah Tross / US NAVY/AFP

Stocks Drop, Oil Rises after Trump Iran Threat

Most Asia equities fell and oil prices rose on Friday after Donald Trump ratcheted up Middle East tensions by hinting at possible military strikes on Iran if…

Asharq Al Awsat
Business A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah…

Business The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it…

Business FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo

IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

Lebanon's economy has shown resilience despite conflicts in the region, with tourism fueling a bit of a rebound, but restoring growth will require…

Asharq Al Awsat
Business The King Abdullah Financial District in Riyadh (Asharq Al-Awsat)

Saudi Arabia Allows Contracting Exceptions for Firms without Regional HQ

Saudi Arabia has introduced greater flexibility into its investment environment, allowing government entities, under strict controls to safeguard spending…

Bandar al-Mosalam (Riyadh)
Business The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko

IMF Board to Review Staff-level $8.1 Bln Agreement for Ukraine

The International Monetary Fund on Thursday said its board ​would review a staff-level agreement for a new $8.1 billion lending program for Ukraine in coming…

Asharq Al Awsat
Business A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid

US Stocks Fall as Iran Angst Lifts Oil Prices

Wall Street stocks retreated early Thursday as worries over US-Iran tensions lifted oil prices while markets digested mixed results from Walmart. US oil…

Asharq Al Awsat
Business UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

Gold prices extended gains on Thursday after rising more than 2% in the previous session, as lingering tensions between the United States and Iran prompted a…

Asharq Al Awsat