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 night view of Riyadh, Saudi Arabia. (Reuters file)

Saudi Arabia Continues to Excel, Achieves Second-Highest Growth Rate in Tonnage in G20

Saudi Arabia marked a significant milestone in the maritime transport sector in 2025, with its national fleet recording a 32% growth rate compared to 2024. …

Business An oil field in Iraq. (AFP)

Iraq to Nationalize West Qurna 2 Oil Field Operations, Government Says

The Iraqi cabinet has approved nationalizing the petroleum operations in the West Qurna 2 oil field, in accordance with the provisions of a service contract…

Business A view of the Saudi capital Riyadh. (Reuters)

Saudi Tadawul to Open Fully to Direct Foreign Investment from Feb. 1

Saudi Arabia’s Capital Market Authority (CMA) announced a landmark reform allowing all categories of foreign investors to invest directly in the Kingdom’s main…

Asharq Al Awsat (Riyadh)
Business China's Foreign Minister Wang Yi delivers a speech at the ministerial conference of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing, China September 3, 2024. (Reuters)

China’s Top Diplomat Tours Africa with Focus on Strategic Trade Routes

China’s top diplomat began his annual New Year tour of Africa on Wednesday, focusing on strategic trade access across eastern and southern Africa as Beijing…

Business Passengers walk in front of Fes Railway Station, decorated with Africa Cup of Nations (AFCON) theme colors and flags, in the Moroccan city of Fes, January 5, 2026. (Reuters)

Morocco to Ban Frozen Sardine Exports from February

Morocco will halt exports of frozen sardines from February ​1 to protect domestic supplies and contain prices, the cabinet member in charge of fisheries, Zakia…

Business Custodian of the Two Holy Mosques King Salman bin Abdulaziz chairs the cabinet meeting on Tuesday (SPA)

Saudi Cabinet Approves Operating Framework for National Minerals Program

The Saudi Cabinet approved on Tuesday the draft regulations and operating procedures of the National Minerals Program, which was authorized for establishment…

Asharq Al Awsat (Riyadh)
Business The Saudi and Syrian officials discussed opportunities for development cooperation to support various sectors in Syria. (SPA)

Saudi Arabia, Syria Discuss Opportunities for Development Cooperation

Saudi Fund for Development (SFD) Chief Executive Sultan Al-Marshad held talks in Damascus on Tuesday with Syrian Minister of Finance Mohammed Yusr Barniyeh,…

Business A general view of Riyadh. (SPA)

Standard Chartered: Fiscal Deficit a Catalyst of Transformation in Saudi Arabia

Standard Chartered Global Research said on Tuesday it believes the recent fiscal deficits in Saudi Arabia have not been a setback, but rather a catalyst of…

Asharq Al Awsat (Riyadh)
Business A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia Raises $11.5 Bln to Open 2026 Amid Strong Investor Demand

Saudi Arabia has successfully completed its first foray into international debt markets for 2026, issuing $11.5 billion in US dollar-denominated sovereign…

Asharq Al Awsat (Riyadh)
Business Abdulelah Aldeheem, Assistant Governor for Executive Affairs at the Saudi Central Bank. (Turky Al-Agili)

Saudi Central Bank to Asharq Al-Awsat: Payment Digitization Anchors Kingdom's Global Financial Hub Status

The Saudi Central Bank is spearheading a comprehensive regulatory and technical initiative to transform the Kingdom’s digital payments landscape, shifting from…

Mosaed al-Zayani (Riyadh)
Business  Fireworks burst over the historical site of the Giza Pyramids, on the outskirts of Cairo, Egypt, early Thursday, Jan. 1, 2026. (AP)

Egypt Non-Oil Private Activity Expands Second Month in December, PMI Shows

Egypt's non-oil private sector expanded for the second straight month in December, albeit at a slower pace, with firms benefiting from increased new orders and…

Business FILE PHOTO: Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas April 16, 2015. Picture taken on April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo

Oil Dips on Ample Supply Outlook, Market Weighs Venezuelan Output

Oil prices fell on Tuesday on expectations of ample global supply amid weak demand, and as the market weighed the prospect of higher Venezuelan crude output…

Asharq Al Awsat
Business FILE PHOTO: 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 Hits One-week High on Fed Rate-cut Bets, Venezuela Turmoil

Gold rose further on Tuesday to hit a one-week high, as dovish comments from Federal Reserve officials boosted interest rate-cut bets and Venezuela tensions…

Asharq Al Awsat
Business Crowds gather in a street decorated with lights during New Year celebrations in Damascus, Syria, 31 December 2025. (EPA)

Egypt Signs MoU to Supply Syria with Gas, Ministry Says

Egypt has signed two memoranda of understanding (MoU) with Syria to cooperate on supplying gas for power generation and ‌meeting Syria's ‌petroleum…

Business Employees and passengers walk in front of Fes Railway Station, which is decorated with Africa Cup of Nations (AFCON) theme colors, in the Moroccan city of Fes, January 5, 2026. (Reuters)

Morocco Receives 19.8 Million Tourists in 2025, Tourism Ministry Says

Morocco received a record 19.8 million tourists in 2025, up 14% from a year earlier, the tourism ministry said on Monday. Tourism ‌accounts for &zwnj…

Business A general view of the Saudi capital Riyadh. (SPA)

Saudi Economy Poised for Strong Non-Oil Momentum in 2026

Saudi Arabia enters 2026 amid an accelerating transformation driven by Vision 2030 targets, even as global economic growth slows to about 3.1% and global…

Mosaed al-Zayani (Riyadh)
Business A street vendor sells traditional Turkish bagel "Simit" at Karakoy square, in Istanbul, on December 27, 2025. (Photo by Yasin AKGUL / AFP)

Türkiye Inflation Falls to 30.9% in December from 44% a Year Earlier

Türkiye's annual inflation slowed in December to 30.9 percent, a fourth straight month of declines and well below the 44.4 percent posted a year earlier,…

Asharq Al Awsat
Business The Saudi capital, Riyadh (AFP) 

Saudi Arabia Balances Expansionary Spending, Financial Stability in Its 2026 Borrowing Plan

Saudi Arabia has unveiled its annual borrowing plan for 2026, a move that underscores the growing maturity of its fiscal policy and its ability to align…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A woman passes by a logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. REUTERS/Maxim Shemetov/File Photo

OPEC+ Confirms Suspension of Oil Output Increase in First Quarter of 2026

OPEC+ countries have confirmed the suspension of the planned increase in oil production during the first quarter of 2026, as eight key producers reaffirmed…

Asharq Al Awsat (Vienna)
Business The Saudi capital Riyadh (SPA)

Saudi PIF Tops List of Sovereign Funds Worldwide in 2025

Global SWF’s sixth annual report revealed that 2025 marked a historic shift in the global financial balance of power, as investors together with central banks…

Asharq Al Awsat (Riyadh)
Business South Korean President Lee Jae Myung speaks during a forum between businesspeople of South Korea and China at the Diaoyutai State Guesthouse in Beijing, China, 05 January 2026. EPA/YONHAP

Chinese, South Korean Companies Sign 9 Cooperation Agreements

Chinese and South Korean companies signed nine cooperation agreements, authorities said on Monday, during a state visit by South Korean President Lee Jae Myung…

Asharq Al Awsat
Business People walk along Taksim square during the first snowfall of the year, in Istanbul, Türkiye, Thursday, Jan. 1, 2026. (AP)

Türkiye Opens 2026 Debt Auctions, Plans 1.32 Trln Lira in Q1 Domestic Borrowing

Türkiye will begin its 2026 domestic borrowing on ​Monday with auctions for a 1-year zero-coupon bond and a 4-year floating rate note, with first quarter…

Business FILE PHOTO: People queue outside the ABC Bullion store in Sydney, Australia, October 8, 2025. REUTERS/Hollie Adams/File Photo

Gold Surges as US Capture of Venezuela President Spurs Safe-haven Demand

Gold prices climbed Monday and other precious metals surged, after the United States captured Venezuelan President Nicolas Maduro over the weekend, escalating…

Asharq Al Awsat
Business Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

The Saudi Venture Capital Company (SVC) announced on Sunday that Saudi Arabia’s venture capital ecosystem achieved two historic leaps in 2025, in terms of…