Saudi Arabia Offers Freight Brokerage Services at Airports to Facilitate Trade

Business Cargo services at King Khalid International Airport in Riyadh (Asharq Al-Awsat)

Saudi Arabia Offers Freight Brokerage Services at Airports to Facilitate Trade

The Saudi government allowed freight brokers to provide services at airports to increase competitiveness and offer more options, which contributes to…

Asharq Al Awsat (Riyadh)
Business The Al-Rudaf Park in Taif, western Saudi Arabia. (Asharq Al-Awsat)

Saudi Tourism Revenues Jump 70% in 2021

Operational revenues of tourism-related activities in Saudi Arabia amounted to $56.8 million in 2021, a 70.8 percent increase compared with 2020, revealed the…

Asharq Al Awsat (Riyadh)
Business Mahd Ad Dahab gold mine, one of the oldest mines in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Expands Exploration of Mineral Resources

The Saudi Ministry of Industry and Mineral Resources called on emerging individual explorers, small and medium-sized local companies, and investors to register…

Asharq Al Awsat (Riyadh)
Business Turkish President Recep Tayyip Erdogan, accompanied by his wife Emine Erdogan, addresses his supporters at the Presidential Palace in Ankara, Türkiye, May 28, 2023. (Presidential Press Office/Handout via Reuters)

Turkish Lira Teeters Near Record Low as Erdogan Secures Victory 

Türkiye's lira wobbled near record lows against the dollar as President Recep Tayyip Erdogan secured victory in the country's presidential election on Sunday,…

Business Neil Bush (Asharq Al-Awsat)

US-Chinese Business Delegation Seeks Launching Int’l Alliance for Green Energy in Riyadh

A delegation of US and Chinese businesses is scheduled to visit Saudi Arabia on Monday, in an effort to establish a multinational alliance or league…

Fatah Al-Rahman Youssef (Riyadh)

Business Hossam Haiba, CEO of the General Authority for Investment and Free Zones (GAFI), and other officials during a ceremony granting a golden license to establish a home appliances factory. (Asharq Al-Awsat)

Egypt Expects ‘Remarkable’ Increase in Direct Investment

Hossam Haiba, CEO of the General Authority for Investment and Free Zones (GAFI), expected the Egyptian market to achieve a remarkable increase in direct…

Business Seagulls gather on grass close to an electoral poster bearing a portrait of the Turkish President and leader of the Justice and Development (AK) Party Recep Tayyip Erdogan ahead of the May 28 presidential runoff vote, in Istanbul, Türkiye, on May 27, 2023. (AFP)

Turkish Lira’s Long Decline a Symbol of Strife

As Türkiye's lira hit a record low ahead of the country's election decider on Sunday, the currency is looking increasingly dysfunctional with investors…

Business FILE PHOTO: A well head and drilling rig in the Yarakta oilfield, owned by Irkutsk Oil Company (INK), in the Irkutsk region, Russia, March 11, 2019. REUTERS/Vasily Fedosenko/File Photo

Iraq Warned to End Oil Addiction to Avoid 'Intensive Care'

Oil-dependent Iraq has been warned its economy risks going into "intensive care" unless it diversifies in line with worldwide efforts to tackle the impact of…

Asharq Al Awsat
Business This file photo taken on March 17, 2023 shows visitors on the Mahanakorn skywalk overlooking Bangkok. (AFP)

Thailand Says 1 Million Chinese Tourists Visited from January to Mid-May

Thailand received one million Chinese tourists between January and May 18, a government official said on Sunday, after China's border reopening. The…

Business China's first domestically produced passenger jet C919 flies during its first commercial flight from Shanghai to Beijing, in Shanghai on May 28, 2023. (AFP)

China's Home-Grown C919 Completes First Commercial Flight

China Eastern Airlines Corp Ltd entered China's home-grown narrow-body C919 jet into passenger service on Sunday and completed its first commercial flight,…

Business A view of the cargo ship XIN HAI TONG 23 after successfully being refloated to the waiting area, in the canal next to Ismailia, Egypt May 25, 2023. The Suez Canal Authority/Handout via REUTERS

Egypt Shuts 2 Red Sea Ports Over Bad Weather

Egypt closed two Red Sea ports on Saturday due to bad weather, the Red Sea Ports Authority said. The ports were Suez and Zeitiyat in the Suez province. …

Asharq Al Awsat (Cairo)
Business Al-Khorayef met with Badenoch, along with representatives of the two sides, in Riyadh on Thursday. (Asharq Al-Awsat)

Saudi Arabia, Britain Say They Intend to Cooperate in Critical Minerals

British Business and Trade Secretary Kemi Badenoch began her Gulf tour by signing a letter of intent with Saudi Arabia to enhance cooperation in the field of…

Asharq Al Awsat (Riyadh)
Business Part of the annual Confederation of Indian Industry (CII) conference 2023 held in New Delhi on 24-25 May. (WAM)

UAE, India Discuss Enhancing Future Global Trade

Abdullah bin Touq Al Marri, Minister of Economy participated in a session titled “Is Minilateralism the Future of Global Trade?” as part of the annual…

Asharq Al Awsat
Business APEC Ministers Responsible for Trade Meeting Chair Ambassador Katherine Tai delivers concluding remarks during a news conference at the Westin Book Cadillac hotel in Detroit, Michigan on May 26, 2023. (Photo by JEFF KOWALSKY / AFP)

APEC Trade Chiefs Agree on More Inclusive Trade

Trade ministers from the Asia Pacific Economic Cooperation (APEC) countries agreed on Friday to promote more inclusive and sustainable trade, but failed to…

Asharq Al Awsat (Detroit)
Business A view of the cargo ship XIN HAI TONG 23 after successfully being refloated to the waiting area, in the canal next to Ismailia, Egypt May 25, 2023. The Suez Canal Authority/Handout via REUTERS

Suez Canal Economic Zone Signs $487 Mln in Investment Accords with Chinese Companies

Egypt's Suez Canal economic zone said on Friday that it signed investment agreements worth $487 million with Chinese companies. The investments are in the…

Asharq Al Awsat (Cairo)
Business ADNOC Raises $769 Mln from Logistics & Services IPO

ADNOC Raises $769 Mln from Logistics & Services IPO

Abu Dhabi National Oil Co. (ADNOC) achieved revenues worth 2.83 billion dirhams ($769 million) for launching an IPO of a minority stake that represents 19…

Asharq Al Awsat (Abu Dhabi)
Business  David Edmondson, CEO of the NEOM Green Hydrogen Company (NGHC) Asharq Al-Awsat)

NEOM Accelerates Moves towards Green Hydrogen Production

Saudi Arabia’s NEOM is accelerating steps towards hydrogen production, as part of its endeavor to advance green and sustainable solutions and achieve the zero…

Asharq Al Awsat

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Business Ministers and officials from both Saudi Arabia and Iraq gather at the “Saudi-Iraqi Economic Forum” held in Jeddah, Saudi Arabia (Asharq Al-Awsat)

Saudi Aramco to Develop Iraqi Gas Field

Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel…

Asma al Ghabri (Jeddah)
Business  Container shipping operations at King Fahd Industrial Port in Yanbu (western Saudi Arabia) (Asharq Al-Awsat)

Value of Saudi Exports Recorded $1.1b Increase in March

Recent statistics showed a rise in the value of Saudi merchandise exports in March by 4.4 billion riyals ($1.1 billion), or 4.4 percent, compared to February,…

Asharq Al Awsat (Riyadh)
Business Germany’s climate envoy Jennifer Morgan (Asharq Al-Awsat)

Berlin Deepens Cooperation with Riyadh for Green Hydrogen Export

Germany’s climate envoy has highlighted the deep collaboration between Riyadh and Berlin to produce and export green hydrogen, as part of the efforts to tackle…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Industry and Mineral Resources Bandar Al Khorayef and the United Kingdom’s Secretary of State for Business and Trade, Kemi Badenoch, have signed a declaration of intent. SPA

Saudi Arabia, UK Sign Agreement to Boost Cooperation in Mining Sector

Saudi Minister of Industry and Mineral Resources Bandar Al Khorayef and the United Kingdom’s Secretary of State for Business and Trade, Kemi Badenoch, have…

Asharq Al Awsat (Riyadh)
Business A U.S. one dollar banknote is seen next to Turkish lira banknotes in this illustration taken in Istanbul, Türkiye November 23, 2021. REUTERS/Murad Sezer/Illustration/File Photo

Turkish Lira Nears Record Low of 20 vs Dollar Ahead of Election Runoff

The Turkish lira weakened to a record low just off 20 against the dollar on Friday ahead of this weekend's presidential election runoff which will decide…

Asharq Al Awsat
Business Pumpjacks operating in a shale oilfield in Argentina while markets’ turmoil continues amid ambiguity in the talks regarding the US debt ceiling. (Reuters)

Russia Does Not Expect New Output Cuts in OPEC+ Meeting

Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from the OPEC+ group of oil producers at its meeting in Vienna on June…

Asharq Al Awsat
Business Qatar Central Bank (Asharq Al-Awsat)

QCB Governor: Riyal’s Dollar Peg is Appropriate for Qatar’s Economy

The Governor of Qatar Central Bank (QCB), Sheikh Bandar bin Mohammed bin Saud Al Thani, said that pegging the Qatari riyal to the dollar was appropriate for…

Business A general view of power plant number 10 at Saudi Electricity Company's Central Operation Area, south of Riyadh (Reuters)

Saudi Arabia to Activate the Arab Common Market for Electricity

The Saudi Cabinet, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, approved the draft general agreement to establish the Arab…

Asharq Al Awsat
Business Saudi Minister of Housing Majid Al-Hogail addresses the conference. (Asharq Al-Awsat)

Saudi Housing Program Contributes $31.7 Bln to the GDP

Saudi Minister of Housing Majid Al-Hogail stressed the importance of the housing sector to Saudi Arabia’s gross domestic product. The Saudi housing…

Asharq Al Awsat (Jeddah)
Business UAE's Sheikh Mohammed bin Rashid chairs a cabinet meeting . (WAM) 

UAE Approves 78 Environmental Projects for COP28

The UAE Cabinet approved a total of 78 environmental projects in preparation for hosting COP28. It initiatives include national strategies to reduce…

Asharq Al Awsat (Dubai)
Business Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. REUTERS/Alexander Manzyuk

Gold Range-bound on Firmer Dollar, US Debt Limit Uncertainty

Gold prices were flat on Thursday as the dollar advanced to an over two-month high and sapped demand for the greenback-priced metal, while investors awaited…

Asharq Al Awsat
Business US dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Fitch Places United States' 'AAA' on Rating Watch Negative

Ratings agency Fitch put the United States' credit on watch for a possible downgrade on Wednesday. Fitch put the country's "AAA" rating, its highest rank,…

Asharq Al Awsat (San Francisco )