Saudi Arabia Issues Regulations Governing Tourist Visas

Saudi Arabia discloses new regulations for tourist visas in the framework of achieving the objectives of developing the sector within Kingdom Vision 2030 (Asharq Al-Awsat)
Saudi Arabia discloses new regulations for tourist visas in the framework of achieving the objectives of developing the sector within Kingdom Vision 2030 (Asharq Al-Awsat)
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Saudi Arabia Issues Regulations Governing Tourist Visas

Saudi Arabia discloses new regulations for tourist visas in the framework of achieving the objectives of developing the sector within Kingdom Vision 2030 (Asharq Al-Awsat)
Saudi Arabia discloses new regulations for tourist visas in the framework of achieving the objectives of developing the sector within Kingdom Vision 2030 (Asharq Al-Awsat)

Saudi Arabia’s new plan for regulating tourism visas, which includes 13 items, aligns with the Kingdom’s efforts to develop the tourism sector and the objectives of Kingdom Vision 2030, according to experts.

Single-entry visas are valid for three months and multiple-entry visas last for one year. The single-entry option allows travelers to stay in Saudi Arabia for a maximum of one month, while there is a 90-day length of stay for multiple-entry visas. Applicants cannot specify which option they want — this will be decided on a case by case basis by the Ministry of Foreign Affairs.

Economists believe that the new regulation is flexible and contributes to revitalizing the tourism sector in an adaptable and disciplined manner.

Faisal Al-Fadel, Saudi Shura Council member, said that the tourism sector is one of the offshoots of economic development and one of the most important sectors that generate direct and indirect job opportunities and contributes to promoting comprehensive development.

“New regulations are important in that they contribute to the development of the economy and encourage tourism and investments in the Kingdom,” Al-Fadel told Asharq Al-Awsat.

Al-Fadel added that Saudi Arabia has taken great and rapid steps in developing its tourism sector and has become an important global destination.

He also pointed out that the geographical location of the Kingdom contributes significantly to increasing the number of tourists in the coming years.

Al-Fadel reiterated that new regulations and legislation are of great importance in opening the way for everyone to visit and enjoy Saudi Arabia.

Moreover, Al-Fadel said that regulations directly contribute to advancing the goals of Vision 2030 and promoting tourism in Saudi Arabia.



Gold Prices Hold Steady as Investors Await US Fed Policy Cues

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Prices Hold Steady as Investors Await US Fed Policy Cues

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold prices remained steady on Wednesday, as investors awaited the US Federal Reserve's decision on interest rates due later in the day, while also focusing on US President Donald Trump's trade policies following his tariff threats.

Spot gold eased 0.2% to $2,758.49 per ounce by 09:55 a.m. ET (1455 GMT), while US gold futures rose 0.3% to $2,775.60, widening the premium over spot gold rates.

The Fed is scheduled to release its latest policy decision and statement at 2 p.m. EST (1900 GMT), with Fed Chair Jerome Powell due to hold a press conference half an hour later to elaborate on the meeting.

The US central bank is widely expected to hold interest rates steady as it awaits further inflation and jobs data and more clarity on the economic impact of Trump's policies before deciding whether to cut borrowing costs again.

"However, the Fed's commentary in regards to the potential for an interest rate cut in the March meeting is going to be in focus," said David Meger, director of metals trading at High Ridge Futures.

Gold prices neared all-time highs last week after Trump called for lower interest rates. Bullion tends to thrive in a low-interest-rate environment as it yields no interest.

Prices, however, retreated sharply on Monday as a sell-off in technology stocks, driven by Chinese AI model DeepSeek, sparked a rush to liquidate bullion to counter losses, according to Reuters.

The sell-off in the stock market seen on Monday may not be over and the unpredictability of Trump's policies is contributing to an increased demand for gold as a safe-haven, said Jim Wyckoff, a senior market analyst at Kitco Metals.

Trump still plans to make good on his promise to issue tariffs on Canada and Mexico, and his policies are widely seen as inflationary.

Elsewhere, spot silver gained 1.7% to $30.92 per ounce, platinum also added 0.5% to $946.45. Palladium was up 0.8% to $962.50.