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 A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan”…

Asharq Al Awsat (Madinah)
Business An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Airbus Planning Record Commercial Aircraft Deliveries in 2026

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in…

Asharq Al Awsat
Business The logo of the Saudi company Humain. Asharq Al-Awsat

Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

Saudi Arabia's artificial intelligence firm Humain said Wednesday it had invested $3 billion in US billionaire Elon Musk's xAI. The investment made Humain…

Asharq Al Awsat (Riyadh)
Business A Microsoft logo is seen a day after Microsoft Corp's $26.2 billion purchase of LinkedIn Corp, in Los Angeles, California, US, June 14, 2016. REUTERS/Lucy Nicholson

Microsoft Arabia: Saudi Arabia Accelerates AI Adoption, Turns It Into Competitive Edge

Saudi Arabia has cemented its global standing in artificial intelligence after pouring significant investments into the sector in 2025, accelerating digital…

Abeer Hommadi (Riyadh)
Business Lockheed Martin took part in the recent World Defense Show in Riyadh. (Asharq Al-Awsat)

Lockheed Martin: Saudi Arabia Is Strategic Choice for Global Defense Hub

Saudi Arabia’s push to localize half of its defense spending under Vision 2030 is drawing deeper commitments from US defense giant Lockheed Martin, which says…

Mosaed al-Zayani (Riyadh)
Business A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry…

Asharq Al Awsat
Business udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in…

Asharq Al Awsat
Business (FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the…

Asharq Al Awsat (New York)
Business The launch of the Namaa Endowment Fund (Asharq Al-Awsat)

Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

Saudi Arabia has launched its first endowment fund dedicated to advancing environmental, water and agricultural sustainability, reinforcing efforts to…

Asharq Al Awsat (Riyadh)
Business Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)

Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Saudi Arabia’s Ministry of Tourism has raised the readiness of Makkah’s hospitality sector to its highest level ahead of the holy month of Ramadan, stressing…

Asharq Al Awsat (Makkah)
Business FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo

ECB President Lagarde Reportedly Plans to Quit Before Macron's Term Ends

European Central Bank President Christine Lagarde plans to leave her job before next year's French presidential election to allow Emmanuel Macron to have an…

Asharq Al Awsat
Business Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)

UK Inflation Falls to 3.0% in January

Britain's annual ‌rate of consumer price inflation fell to 3.0% in January from 3.4% in December, official figures showed on Wednesday. A Reuters poll…

Asharq Al Awsat (London)
Business The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)

Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The Saudi Aviation Club announced that it will organize the AERO Middle East x Sand & Fun 2026 in Riyadh from November 24 to 28, reported the Saudi Press…

Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)

Saudi Arabia, Kazakhstan Agree to Establish Coordination Council

Saudi Arabia and Kazakhstan agreed to establish a Saudi-Kazakh Coordination Council, reported the Saudi Press Agency on Tuesday. Saudi Minister of Energy…

Business The MoU was signed by Mawani President Eng. Suliman Almazroua and CEO of Qatar Ports Management Company Captain Abdullah Mohammed Al-Khanji. (QNA)

Saudi-Qatari Partnership Paves Way for Logistics Corridors to Boost Regional Trade Efficiency 

The Saudi Ports Authority (Mawani) and Qatar Ports Management Company signed on Tuesday a memorandum of understanding (MoU) aimed at boosting maritime and…

Asharq Al Awsat (Riyadh)
Business The Makkah Halal Forum 2026 was held from February 14 to 16. (SPA)

Golden Halal Logo Launched at Makkah Halal Forum  

The Makkah Halal Forum 2026, which concluded on Monday, marked a pivotal milestone in the development of Saudi Arabia's halal industry, ushering in a new phase…

Business Nissan Chief Executive Ivan Espinosa. (Asharq Al-Awsat)

Nissan CEO to Asharq Al-Awsat: Saudi Arabia Is ‘Golden Jewel’ Driving Regional Growth 

Nissan Chief Executive Ivan Espinosa has singled out Saudi Arabia as a cornerstone of the automaker’s global ambitions, calling the kingdom and the wider…

Mosaed al-Zayani (Jeddah)
Business Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurates the General Aviation Terminal and the upgraded automatic landing system at King Fahd International Airport in Dammam. (SPA)

Dammam Airport Launches Saudi Arabia’s First Category III Automatic Landing System  

Prince Saud bin Naif bin Abdulaziz, Governor of Saudi Arabia’s Eastern Region, inaugurated on Monday two major aviation projects at King Fahd International…

Asharq Al Awsat (Dammam)
Business The Minister of Municipalities and Housing addresses attendees during the government press conference (Asharq Al-Awsat). 

Saudi Arabia to Launch Real Estate Indicators, Expand ‘Market Balance’ Program Nationwide

Saudi Arabia will roll out real estate market indicators in the first quarter of this year and expand the Real Estate Market Balance program to all regions of…

Bandar al-Mosalam
Business Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China (Reuters) 

China's Russian Oil Imports to Hit New Record in February as India Cuts Back

China's Russian oil imports are set to climb for a third straight month to a new record high in February as independent refiners snapped up deeply discounted…

Asharq Al Awsat
Business The lease allows Chevron to lead the search for gas in four deep-sea blocks, south of the Peloponnese peninsula and the island of Crete (AFP)

Greece… Chevron’s Gateway to Strengthening Europe’s Energy Security

A consortium led by US oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States'…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and officials are seen at the inauguration of one of the facilities. (SPA)

Saudi Industry Minister Inaugurates Advanced Factories in Sudair 

Saudi Minister of Industry and Mineral Resources and Saudi Authority for Industrial Cities and Technology Zones (MODON) Board Chair Bandar Alkhorayef…