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 The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat (File Photo/AFP)

Morocco's Cereals Harvest Expected to Double after Wet Winter

Moroccan grains traders and millers expect Morocco to double its cereals harvest this season after abundant winter rains, with limited impact from floods in…

Business A supermarket in Saudi Arabia (SPA) 

Saudi Arabia Records Slowest Inflation Since February 2025

Saudi Arabia’s annual inflation eased noticeably in January, rising 1.8 percent year on year, the slowest pace since February last year, signaling positive…

Asharq Al Awsat (Riyadh)
Business Saudi flags seen in Riyadh (SPA)

Saudi Arabia Elected President of Arab Housing and Reconstruction Council Executive Office

The Council of Arab Ministers of Housing and Reconstruction announced Saudi Arabia’s election as President of the Executive Office of the council for the 2026…

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

Oil Steady as Traders Brace for US–Iran Nuclear Talks

Oil traded little changed on Monday, with investors weighing the market implications of upcoming US-Iran talks aimed at de-escalating tensions against a…

Asharq Al Awsat
Business The agreement comes as part of SABIC’s support for national downstream industries. Asharq Al-Awsat

SABIC Signs Agreement to Supply Raw Materials for Tire Manufacturing in Saudi Arabia

The Saudi Basic Industries Corporation (SABIC) signed an agreement with the joint venture between the Public Investment Fund (PIF) and Pirelli to supply raw…

Asharq Al Awsat (Riyadh)
Business Mohamed Farid, Minister of Investment and Foreign Trade, at the “Disruptech Sharm 2026 – Fintech and Beyond” conference. (Egyptian Ministry of Investment).

Egypt’s Investment Ministry Says Next Phase Demands Shift Beyond Fintech

Egypt’s Minister of Investment and Foreign Trade Mohamed Farid said the next phase of the country’s investment climate requires moving beyond traditional…

Asharq Al Awsat (Cairo)
Business Safran Group logo is seen in this illustration taken July 26, 2025. REUTERS/Dado Ruvic/Illustration

Safran to Open Landing Gear Plant in Morocco

Safran Landing Systems, a subsidiary of French aerospace group Safran, signed a deal with Morocco to set up a landing gear factory near Casablanca worth 280…

Asharq Al Awsat
Business Visitors walk past illuminated lantern displays ahead of Lunar New Year in Beijing, China, Wednesday, Feb. 11, 2026. (AP Photo/Vincent Thian)

China to Scrap Tariffs for Most of Africa from May

Beijing's scrapping of tariffs for all but one African country will start May 1, Chinese President Xi Jinping said Saturday, according to state media. …

Asharq Al Awsat
Business A worker in the coal fields at US Steel's Clairton Coke Works in Clairton, Pa., on Wednesday, Nov. 19, 2025. (Quinn Glabicki/Pittsburgh's Public Source via AP)

Trump to Roll Back Some Tariffs on Steel, Aluminum

US President Donald Trump plans to scale back some tariffs on steel and aluminum goods, the Financial Times reported on Friday, citing people familiar with the…

Asharq Al Awsat (Washington)
Business The meetings discussed cooperation between the two sides. SPA

Saudi Industry Minister, European Commission Discuss Enhancing Economic Partnership

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has held separate meetings with European Commissioner for the Mediterranean Dubravka Suica…

Asharq Al Awsat (Brussels)
Business 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. (Reuters)

US Allows Oil Majors to Resume Venezuela Operations, Broadly Okays New Energy Investments

The US eased sanctions on Venezuela's energy sector on Friday, issuing two general licenses that allow global energy companies to resume oil and gas operations…

Business Discussions covered cooperation across the energy, investment and industry - SPA

Saudi Energy Minister, China’s NDRC Chairman Co-chair Fifth Belt and Road, Major Projects and Energy Subcommittee Meeting

The fifth meeting of the Belt and Road, Major Projects and Energy Subcommittee of the Saudi–Chinese High-Level Joint Committee convened via videoconference…

Asharq Al Awsat
Business People walk along the Zaryadye Floating Bridge on a cold winter day, with the Kremlin in the background, in Moscow, Russia February 5, 2026. REUTERS/Anastasia Barashkova

Russian Central Bank Cuts Key Rate to 15.5%, Signals More Cuts to Come

Russia's central bank cut its key interest rate by 50 basis points to 15.5% on Friday and signaled that rates could fall further in a bid to shore up the…

Asharq Al Awsat
Business Solar panels are seen on the roof of a company in Nairobi, Kenya, on Sept. 1, 2023. (AP)

Africa Leads Growth in Solar Energy as Demand Spreads Beyond Traditional Markets, Report Says 

Africa was the world’s fastest-growing solar market in 2025, defying a global slowdown and reshaping where the momentum in renewable energy is concentrated,…

Business Containers stacked at the port of Keelung in northern Taiwan (Reuters file photo)

US Reaches Trade Deal to Lower Taiwan's Tariff Barriers

The Trump administration reached a trade deal with Taiwan on Thursday, with Taiwan agreeing to remove or reduce 99% of its tariff barriers, the office of the…

Asharq Al Awsat (Washington)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef  (center) during one of his meetings in Brussels on Thursday. (SPA)

Saudi Industry Minister Discusses Localization of Medical Device Manufacturing with Global Firms in Belgium

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held talks in Brussels on Thursday with Pfizer Global President of Emerging Markets Nick…

Business General view of Riyadh city during the early hour of evening at Riyadh, Saudi Arabia, May 28, 2025. (Reuters)

Saudi General Authority of Civil Aviation to Hold 4th Future Aviation Forum 2026 in April 

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the General Authority of Civil Aviation (GACA) will organize the…

Business Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas

Türkiye's Central Bank Lifts 2026 Inflation Forecasts

Türkiye's central bank on Thursday increased its estimates for inflation as officials try to rein in soaring price increases that have weighed on the economy…

Asharq Al Awsat
Business Mawani Reports 2.01% Increase in Container Throughput for January 2026

Mawani Reports 2.01% Increase in Container Throughput for January 2026

Ports overseen by the Saudi Ports Authority (Mawani) reported a 2.01% increase in container handling for January 2026, totaling 738,111 TEUs, up from 723,571…

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

Oil Prices Edge Lower as IEA Reduces Demand Forecast

Oil prices slipped on Thursday as investors weighed the International Energy Agency's lowering of its global oil demand forecast for 2026 against potential…

Asharq Al Awsat
Business Saudi Aramco's Jafurah project. Photo: Aramco

Saudi Aramco Reportedly Sells Oil from Jafurah Field as Huge Project Starts

Saudi Aramco sold oil from its $100 billion Jafurah project in the first reported export from the massive natural gas development, Bloomberg reported. …

Asharq Al Awsat (Riyadh)
Business The surge highlights the appeal of the mining investment environment in the Kingdom. SPA

Industry Ministry: Saudi Arabia Saw 220% Surge in Mining Licenses in 2025

The Saudi Ministry of Industry and Mineral Resources has announced record growth in the number of new mining exploitation licenses issued in 2025, showing a…

Asharq Al Awsat (Riyadh)
Business The financial district of the City of London (Reuters)

UK Economy Barely Grew in Q4 as Budget Uncertainty Weighed

Britain's economy barely grew in the final quarter of 2025 as activity fared worse than initially estimated during the run-up to finance minister Rachel Reeves…

Asharq Al Awsat (London)