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 facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)

Saudi Industrial Production Index Records Highest Growth Since Early 2023

Saudi Arabia’s Industrial Production Index posted a year-on-year increase of 10.4 percent in November 2025, compared with the same month a year earlier,…

Asharq Al Awsat (Riyadh)
Business German Chancellor Friedrich Merz, left, shakes hands with Indian Prime Minister Narendra Modi following a joint statement to the media in Gandhinagar, India, Monday, Jan. 12, 2026. (AP)

India and Germany Sign Deals to Deepen Economic and Security Ties

Indian Prime Minister Narendra Modi and German Chancellor Friedrich Merz met on Monday in western Gujarat state to push for deeper economic and security ties…

Business Japan's deep-sea drilling vessel, Chikyu is anchored at a pier in Shimizu port, Shizuoka prefecture on September 11, 2013. TOSHIFUMI KITAMURA / AFP/File

Japan Aims to Dig Deep-sea Rare Earths to Reduce China Dependence

A Japanese research vessel on Monday began a historic voyage to attempt to dig deep-sea rare earths at a depth of 6,000 meters to curb dependence on China. …

Asharq Al Awsat
Business FILE - An employee of Pro Aurum gold house lifts 1 Kg silver bars of 999.9 purity besides 1 Kg gold bars in the safe deposit boxes room in Munich, Germany, Friday, April 25, 2025. (AP Photo/Matthias Schrader, File)

Gold, Silver Hit Records After US Probe Targets Fed

Gold and silver surged to record highs after the US Justice Department targeted the Federal Reserve in an investigation, fueling fears over the bank's…

Asharq Al Awsat
Business The Saudi Space Agency signed a memorandum of cooperation with the Japanese government on the peaceful use of outer space. (SPA)

Saudi Arabia, Japan Sign Memorandum on Peaceful Use of Space

The Saudi Space Agency signed a memorandum of cooperation with the Japanese government on the peaceful use of outer space on the sidelines of the Saudi-Japan…

Asharq Al Awsat
Business The Saudi-Canadian Business and Investment Forum was held on Sunday. (SPA)

Saudi-Canadian Business Forum Explores Opportunities to Strengthen Investment

The Saudi-Canadian Business and Investment Forum was held on Sunday in Riyadh under the “Invest Saudi” umbrella, with the participation of Minister of…

Asharq Al Awsat
Business Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. Picture taken through a window. REUTERS/Mohamed Abd El Ghany/File Photo

Saudia to Launch Riyadh-Kozhikode Flights in February

Saudia Airlines has added Kozhikode, India, to its network of scheduled international destinations, marking its seventh destination in the country alongside…

Asharq Al Awsat
Business The Wolf Moon, the first supermoon of 2026, lights up the night sky in Cairo, Egypt, January 3, 2026. REUTERS/Mohamed Abd El Ghany

Egypt Signs Renewable Energy Deals Worth $1.8 Billion

Egypt has signed renewable energy deals worth a combined $1.8 billion, state TV reported on Sunday. Among the deals were contracts with Norwegian renewable…

Asharq Al Awsat
Business Iraq’s Prime Minister Mohammed Shia al-Sudani inspects the electricity ministry pavilion at the Iraq Energy Exhibition and Conference

Iraq Says Gas Flaring to Reach Zero by End-2028

Iraq’s Prime Minister Mohammed Shia al-Sudani stated on Saturday that the government is moving forward with the development of clean and renewable energy…

Asharq Al Awsat (Baghdad)
Business The Saudi capital, Riyadh (Reuters)

IMF: Saudi Transformation on Track Supported by Deeper Reforms

Saudi Arabia enters a new phase described as one of the most sensitive and influential in the course of its economic transformation, according to the…

Asharq Al Awsat (Riyadh)
Business A Chevron logo at the Chevron building in Houston, Texas, US August 19, 2025. (Reuters)

Iraq’s Oil Minister Says Talks Ongoing with Chevron on West Qurna 2 Oilfield

Iraq's oil minister said on Saturday that talks were ‌ongoing ‌with ‌US ⁠major Chevron regarding ‌the Lukoil-operated West Qurna-2 field,…

Business  Chinese girls dressed in Qing Dynasty attire take pictures outside the Forbidden City in Beijing, China, Wednesday, Jan. 7, 2026. (AP)

China’s Consumer Inflation Scales 3-Year High but Deflation Battle Far from Over

China's annual consumer price inflation accelerated to a 34-month high in December, but the full-year rate slumped to the lowest in 16 years while producer…

Business  Employees at the Saudi Business Center (SPA). 

Business-Friendly Climate Draws 123,000 New Commercial Registrations in Saudi Arabia

Saudi Arabia’s business environment attracted 123,000 new commercial registrations in the fourth quarter of 2025, pushing the total number of active…

Bandar al-Mosalam (Riyadh)
Business A SABIC employee (company website) 

SABIC Reshapes Global Footprint With $950m Divestment Deals

Saudi Basic Industries Corporation (SABIC) has announced a major overhaul of its global portfolio, accelerating its exit from petrochemical and engineering…

Asharq Al Awsat (Riyadh)
Business In this photo released by the Lebanese Government press office, Lebanese Prime Minister Nawaf Salam, right background, attends the signing of an international consortium deal for gas exploration in the cost of southern Lebanon between the Lebanese government and representing officials from the international consortium consisting of France's Total, Italy's ENI, and state-owned oil and gas company Qatar Energy, in Beirut, Lebanon, Friday, Jan. 9, 2026. (Lebanese Government press office via AP)

Lebanon Signs Gas Exploration Deal with International Consortium Amid Economic Crisis

Lebanon ’s government on Friday signed a deal with an international consortium to explore gas in an offshore area bordering Israel. The deal for exploration…

Business A shopkeeper arranges food oil bottles at his grocery store in northern Tehran, Iran, Tuesday, Jan. 6, 2026. (AP)

World Food Prices Dip in December but Still up in 2025, UN’s FAO Says

World food prices declined for a fourth consecutive month in December, mostly pressured by dairy, ​meat and vegetable oil prices, marking the lowest average…

Business (FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)

Gold Price Surge Helps Swiss National Bank Make $33 Billion Profit

The Swiss National Bank made a profit of around 26 billion Swiss francs ($32.52 billion) in 2025, the central bank said on Friday, thanks to big increases in…

Asharq Al Awsat
Business New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

New Aramco Digital Network to Enable Secure Industrial Connectivity across Saudi Arabia

Aramco Digital, the technology subsidiary of Saudi Aramco, is set to launch the Kingdom’s national industrial communications network operating in the 450 MHz…

Asharq Al Awsat
Business A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev

Oil Rises as Market Focuses on Venezuela and US Sanctions Plans

Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed US sanctions…

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 Falls as Commodity Index Rebalancing Sparks Selling Pressure

Gold prices fell on Thursday as investors braced for futures selling tied to a commodity index reshuffle, with a stronger US dollar adding pressure by making…

Asharq Al Awsat
Business Saudi Commerce Ministry Announces 123,000 New Commercial Registers in Q4 2025

Saudi Commerce Ministry Announces 123,000 New Commercial Registers in Q4 2025

The Saudi Ministry of Commerce has released its business sector bulletin for the fourth quarter of 2025, highlighting performance trends and key developments…

Business This image from video provided by the US Department of Defense, shows the US Coast Guard cutter Munro shadowing the MV Bella 1 in the North Atlantic Ocean during the maritime interdiction operation Wednesday, Jan. 7, 2026. (Department of Defense via AP)

US Seeks to Assert Control over Venezuelan Oil with Tanker Seizures and Sales Worldwide

President Donald Trump's administration on Wednesday sought to assert its control over Venezuelan oil, seizing a pair of sanctioned tankers transporting…

Asharq Al Awsat
Business Delegation from the Saudi Fund for Development meets Syrian Finance Minister Mohammed Yisr Barnieh (Syrian Finance Ministry)

Saudi Fund to Speed Syria Recovery with Up to $1.5 Bln Financing

A delegation from the Saudi Fund for Development, headed by its chief executive Sultan bin Abdulrahman Al-Marshad, discussed proposed priority projects in…

Muwafaq Mohammed (Damascus )
Business Saudi Arabia maps mining exploration zones (Asharq Al-Awsat)

Saudi Minerals Program Accelerates Unlocking Trillions Beneath the Desert

Economic experts said the Saudi Cabinet’s approval of the draft rules and procedures governing the National Minerals Program marks a decisive step that will…

Asharq Al Awsat