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 Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)

Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye has reached a new long-term agreement to import a total of 33 bcm natural gas from Azerbaijan, Energy ‌Minister Alparslan ‌Bayraktar &zwnj…

Business The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)

Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

Saudi Arabia has approved its annual borrowing plan for the 2026 fiscal year, setting projected financing needs at about $58 billion as the Kingdom seeks to…

Asharq Al Awsat (Riyadh)
Business Syria begins circulating new post-Assad currency bill (The Associated Press)

Syria Begins Circulating New Post-Assad Currency Bills

Syria started the process of circulating new currency bills on Saturday as the crisis-hit nation seeks to stabilize the economy as it recovers from the fall of…

Asharq Al Awsat
Business President Recep Tayyip Erdogan attends a NATO summit in Madrid, Spain June 30, 2022. (Reuters)

Erdogan Hails 2.6 bln Euro Jet Deal with Spain

President Recep Tayyip Erdogan on Saturday welcomed an agreement under which Spain will procure Turkish-made HURJET training aircraft, describing it as…

Asharq Al Awsat
Business The logo of Venezuelan state oil company PDVSA is seen on a fuel tank truck, in Caracas, Venezuela May 14, 2025. REUTERS/Leonardo Fernandez Viloria

Venezuela's Oil Facilities Unscathed in US Strike

Venezuela's state-run oil production and refining were operating normally on Saturday ​and suffered no damage from a US strike to extract the country's…

Asharq Al Awsat
Business A Turkish flag is pictured on a boat in Istanbul, Türkiye, June 25, 2018. (Reuters)

Türkiye's 2025 Exports Hit Record $273.4 billion, up 4.5% y/y, Says Erdogan

Türkiye's ​exports hit a record high $273.4 billion in 2025, ‌up ‌4.5% ‌from ⁠a ​year ‌earlier, President Tayyip Erdogan said on Saturday. …

Asharq Al Awsat
Business (FILES) BYD's display booth is seen during the 32nd Gaikindo Indonesia International Auto Show (GIIAS) at the Indonesia Convention Exhibition (ICE) in Tangerang, Greater Jakarta, on July 23, 2025. (Photo by Yasuyoshi CHIBA / AFP)

Tesla Loses Title as World's Biggest Electric Vehicle

Tesla lost its crown as the world’s bestselling electric vehicle maker on Friday as a customer revolt over Elon Musk’s right-wing politics and stiff overseas…

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

Precious Metals Start 2026 Strong on Rate-cut Optimism, Global Risks

Precious metals kicked off the New Year on a strong note on Friday, rebounding from year-end declines as tensions between major powers and US rate cut hopes…

Asharq Al Awsat
Business FILE PHOTO: A worker stands in front of storage tanks at the Rosneft oil refinery in Tuapse at the Russian Black Sea coast September 6, 2006. REUTERS/Sergei Karpukhin/File Photo

Oil Steadies after Biggest Annual Loss Since 2020

Oil prices steadied on the first day of trade in 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against…

Asharq Al Awsat
Business  King Abdullah Economic City, located in western Saudi Arabia (Asharq Al-Awsat). 

Saudi Arabia Activates Major Investment Engines With Approval of Special Economic Zone Rules

Saudi Arabia has taken a pivotal step toward strengthening its standing as a global investment destination after the Cabinet approved the regulatory frameworks…

Asharq Al Awsat (Riyadh)
Business An employee works at an assembly line in the Toyota manufacturing plant in Sakarya October 10, 2013. REUTERS/Osman Orsal

Turkish Manufacturing Nears Stabilization as PMI Rises in December

Turkish manufacturing activity shrank at a slower pace in December, marking two consecutive months of improvement, signaling a slight moderation in operating…

Asharq Al Awsat
Business Stock markets welcomed the New Year with healthy gains. Punit PARANJPE / AFP

Asia Stocks Make Bright Start to 2026

Asian markets made a bright start to 2026 on Friday but volumes were thin with Tokyo and Shanghai still closed as investors awaited fresh direction from Wall…

Asharq Al Awsat
Business  A map of Bulgaria with the EU symbol is projected on the Bulgarian National Bank as people celebrate New Year's Eve and Bulgaria's adoption of the euro in Sofia, Bulgaria, Thursday Jan. 1, 2026. (AP)

Bulgaria Adopts the Euro, Nearly 20 Years After Joining the EU

Bulgaria became the 21st country to switch to the euro as it entered the New Year on Thursday, a milestone met with both cheers and fears, nearly 20 years…

Business Saudi Industry Ministry Concludes Ninth Licensing Round, with 24 Companies and Consortia Awarded 172 Mining Sites

Saudi Industry Ministry Concludes Ninth Licensing Round, with 24 Companies and Consortia Awarded 172 Mining Sites

The Saudi Ministry of Industry and Mineral Resources announced on Wednesday the names of 24 companies and consortia that have won licenses in the ninth…

Business The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)

Expo 2030 Riyadh Awards the Main Utilities and Infrastructure Works Package

In a step aimed at advancing construction activities, Expo 2030 Riyadh awarded its Main Utilities and Civil Works package to Nesma and Partners - marking a…

Business As 2025 draws to a close, Saudi Arabia records a year defined not merely by statistical growth, but by structural transformation across every major sector. (SPA)

Saudi Arabia Closes 2025 with Historic Industrial Reform, Global Digital Leadership, Record-Breaking Economic Activity

The second half of December marked a transformative conclusion to the year for Saudi Arabia, defined by a major policy shift to empower the industrial sector,…

Business People walk down steps near a residential building area with a view of China Zun, the tallest skyscraper in Beijing, Tuesday, Dec. 23, 2025. (AP)

China’s Factory Activity Snaps Record Slump on Festive Stockpiling

China's factory activity unexpectedly grew in December, snapping a record eight straight months of decline, lifted by a rise in pre-holiday orders ​as…

Business Pedestrians walk along a street in the Central Business District of Beijing, China, 31 December, 2025. (EPA)

Xi Says China to Hit 2025 Growth Target of 'Around 5%'

Chinese President Xi Jinping said Wednesday that the country's economy is expected to have grown "around five percent" in 2025, despite "pressure" during a…

Business  A man walks at the seafront as scattered clouds are seen over Mumbai's skyline, India, June 10, 2015. (Reuters)

India Overtakes Japan as World's 4th Largest Economy

India has overtaken Japan as the world’s fourth largest economy and officials hope to pass Germany within three years, the government’s end-of-year economic…

Business  The airport will incorporate the King Khalid terminals - SPA

King Salman International Airport Kicks of Construction of 3rd Runway to Boost Operational Efficiency

King Salman International Airport (KSIA), a PIF company, has commenced construction works on the third runway, marking a strategic step that reflects continued…

Asharq Al Awsat
Business Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

The Saudi Ports Authority (Mawani) signed a contract with Arabian Chemical Terminals Ltd. to establish storage tanks for chemical and petrochemical materials…

Asharq Al Awsat
Business A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

Oil prices were little changed on Tuesday as investors took stock of ​dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the…

Asharq Al Awsat
Business FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo

Meta Buys China-founded AI Agent Manus

Facebook owner Meta has agreed to acquire Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore, the two…

Asharq Al Awsat
Business Gold and silver prices have fallen from record highs this week. DAVID GRAY / AFP/File

Precious Metals Fall again, Asian Stocks Swing as Traders Wind Down

Precious metals extended losses Tuesday on profit-taking after hitting recent records, while equities fluctuated in quiet trade as investors wound down ahead…

Asharq Al Awsat