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 Photo of the Saudi capital (SPA) 

Non-Oil Activities Account for Half of Saudi Economic Growth Momentum

The Saudi economy posted real growth of 4.8% in the third quarter of 2025 compared with the same period of the previous year, reflecting the Kingdom’s…

Asharq Al Awsat (Riyadh)
Business An employee is seen at a factory in Saudi Arabia. (Vision 2030)

New Law Exempts Saudi Industrial Imports in GCC States from Customs Duties  

Saudi Arabia’s recent approval of the Unified Industrial Regulation Law for the Gulf Cooperation Council (GCC) will grant all industrial projects operating…

Bandar al-Mosalam (Riyadh)
Business FILE PHOTO: A general view shows the West Qurna-2 oilfield in southern Basra, Iraq, April 17, 2017. REUTERS/Essam Al-Sudani/File Photo/File Photo

Oil Edges Down with Ukraine Peace Talks, US Rate Decision in Spotlight

Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia's…

Asharq Al Awsat
Business A general view of Tanger Med Port, on the Strait of Gibraltar, east of Tangier, Morocco June 6, 2024. (Reuters)

Morocco to Open Two Deepwater Ports in 2026 and 2028, Minister Says

Morocco will open a new deepwater Mediterranean port next year and another on the Atlantic in 2028, Equipment and Water minister Nizar Baraka said, as the…

Business The project is slated for completion in six years, utilizing the latest railway technologies and smart engineering to ensure safe and seamless operation and to adhere to the highest international standards of quality and safety - SPA

Saudi Arabia, Qatar Sign High-Speed Railway Project Implementation Agreement

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani witnessed the…

Asharq Al Awsat
Business A passenger plane of the ‘Pegasus’ airline lands at the ‘Stuttgart Airport’ in Stuttgart, Germany, Wednesday, May 3, 2023. (Bernd Weissbrod/dpa via AP, File)

Türkiye's Pegasus Airlines Acquires Biggest Czech Airline, Smartwings, in a Deal Worth $180 million

Türkiye's Pegasus Airlines said on Monday it has signed an agreement to acquire the biggest Czech airline, Smartwings, along with its owner, Czech Airlines,…

Asharq Al Awsat
Business stc Receives 5-Star Recognition Certificate for Institutional Excellence from EFQM

stc Receives 5-Star Recognition Certificate for Institutional Excellence from EFQM

stc Group has been awarded the 5-star recognition certificate for institutional excellence from the European Foundation for Quality Management (EFQM) for 2025…

Asharq Al Awsat
Business FILE PHOTO: People walk past a sign at a currency exchange as the value of the Iranian Rial drops, in Tehran, Iran, October 5, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

Iran's Currency Sinks to a New Record Low

Iran's currency slipped to the lowest level in its history on Monday, nearing 1,250,000 rial to the US dollar on the open rate market, various outlets…

Asharq Al Awsat
Business A one-ounce gold bar is displayed at Witter Coins on October 07 2025 in San Francisco. (AFP)

Gold Rises on Fed Rate Cut Expectations, Weaker Dollar

Gold prices rose on Monday, driven by growing expectations of a US interest rate cut that pressured the dollar, ahead of a Federal Reserve policy meeting this…

Asharq Al Awsat
Business Saudi Arabia’s Mawani, ARASCO to Establish Logistics Center at King Abdulaziz Port

Saudi Arabia’s Mawani, ARASCO to Establish Logistics Center at King Abdulaziz Port

The Saudi Ports Authority (Mawani) signed a contract with Arabian Agricultural Services Company (ARASCO) to establish a logistics center for storage and…

Business The Iranian pavilion at the Arab and Global Expo in Makkah. (SPA)

Iranian Products Featured at Arab, Global Expo in Makkah 

The Iranian pavilion at the Arab and Global Expo in Makkah displayed a variety of Iranian products from numerous sectors, attracting a large number of visitors…

Business China's exports topped expectations last month and sent the trade surplus to a record above $1 trillion. AFP

China's Trade Surplus Tops $1 Trillion despite Plunge in US-bound Exports

China's towering annual trade surplus surpassed $1 trillion for the first time last month, data showed Monday, as a sharp drop in shipments to the United…

Asharq Al Awsat
Business King Abdulaziz International Airport recorded notable growth in operational performance during November 2025. (SPA)

King Abdulaziz Int’l Airport Records Increase in Passenger Traffic in November 2025

King Abdulaziz International Airport recorded notable growth in operational performance during November 2025 compared to the same period in 2024, the Saudi…

Asharq Al Awsat
Business French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends the 7th formal meeting of the Franco-Chinese Business Council in Beijing on December 4, 2025. (Reuters)

French Economy Likely to Grow at Least 0.8% in 2025, Finance Minister Says

Unless there is a sharp reversal in the final three months of the year, the French economy is likely to grow by at least 0.8% in 2025, outpacing the 0.7% that…

Business Real estate projects in Riyadh (SPA) 

Saudi Real Estate Shifts from Temporary Upswing to Operational Maturity

Saudi Arabia’s listed real estate sector recorded an exceptional and unprecedented transformation in the third quarter of 2025, with profits surging more than…

Mohammed al-Mutairi (Riyadh)
Business Al-Kaabi speaks at a panel discussion at the Doha Forum 2025. (X)

Qatar’s Energy Minister: AI Will Secure Future Demand for LNG

Statements by Qatar’s Minister of State for Energy Affairs Saad Al-Kaabi became a focal point at the Doha Forum 2025, opened by Emir Sheikh Tamim bin Hamad Al…

Asharq Al Awsat (Doha)
Business A Qatar Airways Airbus A350-900 aircraft takes off in Colomiers near Toulouse, France, October 19, 2017. (Reuters)

Qatar Airways Names Hamad Al-Khater Group CEO

State-owned Qatar Airways has named Hamad al-Khater as the group's chief executive officer, effective December 7, replacing Badr Mohammed Al-Meer, it said on…

Business FILE PHOTO: Olli Rehn in Helsinki, Finland, January 28, 2024. Lehtikuva/Heikki Saukkomaa via REUTERS

ECB's Rehn Sees Downside Risks to Inflation, Urges Action on Ukraine Funding

Inflation in the euro zone faces downside risks in the medium term, even as price growth has returned to the ECB's 2% target, European Central Bank policymaker…

Asharq Al Awsat
Business The Vaccine Alliance (GAVI) logo and US flag are seen in this illustration taken April 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

World Bank to Partner with Global Vaccine Group Gavi on $2 Billion in Funding

The World Bank Group said on Saturday it is working with global vaccine alliance Gavi to strengthen financing for immunization and primary healthcare systems,…

Asharq Al Awsat
Business (FILES) This illustration photograph shows the logo of social network X (formerly Twitter) and a photograph of CEO of social network X, Elon Musk displayed on a smartphone in Brussels on September 27, 2024. (Photo by Nicolas TUCAT / AFP)

Defying Trump, EU Hits X with $140 Million

Elon Musk's social media company X was fined 120 million euros ($140 million) by EU tech regulators on Friday for breaching online content rules, the first…

Asharq Al Awsat (Brussels)
Business FILE PHOTO: Reinsurer Swiss Re's headquarters are seen on the banks of Lake Zurich in Zurich, Switzerland February 21, 2019.  REUTERS/Arnd WIegmann/File Photo

Survey: Swiss Companies Plan Investment Abroad to Offset US Tariffs

Swiss companies plan to relocate some of their operations and production abroad to deal with the impact of US tariffs, according to a study by business…

Asharq Al Awsat
Business FILE PHOTO: Prices of food are displayed at the Borough Market in London, Britain May 22, 2024. REUTERS/Maja Smiejkowska/File Photo

UN's FAO: World Food Prices Fall for 3rd Month in November

World food commodity prices fell for a third consecutive month in November, with all major staple foods except cereals showing a decline, the United Nations'…

Asharq Al Awsat (London)
Business The Saudi flag. Asharq Al-Awsat

World Bank Forecasts 4.3% Growth for Saudi Economy, Supported by Non-Oil Activities

The World Bank affirmed on Thursday that Saudi Arabia's economy has gained significant momentum for 2026-2027, driven by robust non-oil sector expansion under…

Asharq Al Awsat (Washington) Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A drone view of London's Canary Wharf financial district, two days before the government presents its critical pre-election budget, in London, Britain March 3, 2024. REUTERS/Yann Tessier/File Photo

Visa Relocates European Headquarters to London's Canary Wharf

Visa is relocating its European headquarters to London's Canary Wharf financial district, the Canary Wharf Group said on Friday. The firm is leasing 300…

Asharq Al Awsat (London)