Business

Attractive Environment Drives Surge in Private Tourism Facilities in Saudi Arabia

Business Visitors flock to one of the events of “Riyadh Season 2024” (SPA)

Attractive Environment Drives Surge in Private Tourism Facilities in Saudi Arabia

As Saudi Arabia experiences a surge in visitor numbers, there is a growing need to expand tourism infrastructure to keep up with demand. In this context,…

Ayat Nour (Riyadh)
Business Container cargo ships docked at Bangkok port (Reuters)

Will Tariffs Accelerate Free Trade Deals?

More than 70 countries are waiting for their turn to sit at the negotiating table with US officials, as they scramble to avoid a wave of new tariffs imposed by…

Abdulhadi Habtor (Riyadh)
Business Japanese Prime Minister Shigeru Ishiba reacts as he speaks to reporters after a Japanese negotiator held ministerial talks at the White House regarding US tariffs, at the prime minister’s official residence in Tokyo, Japan, 17 April 2025. FRANCK ROBICHON/Pool via REUTERS

Trump Bails 'Big Progress' in Japan Tariff Talks

President Donald Trump touted "big progress" in tariff talks with Japan on Wednesday, in one of the first rounds of face-to-face negotiations since his barrage…

Asharq Al Awsat
Business FILED - 17 November 2019, Egypt, Ismailia: A container ship sails through the Suez Canal. Photo: Gehad Hamdy/dpa

Egypt's Revenue from the Suez Canal Plunged Sharply in 2024

Egypt's revenue from the Suez Canal plunged by almost two thirds last year, officials said Wednesday, attributing the sharp drop to regional tensions and wars…

Asharq Al Awsat
Business People wait their turn in a queue outside an ATM in Damascus on April 16, 2025. (Photo by LOUAI BESHARA / AFP)

Syria, World Bank Discuss Tools to Support Syrian Economic Recovery

Members of the Syrian government and a delegation from the World Bank discussed in Damascus tools to support Syria's economic recovery, the Syrian foreign…

Asharq Al Awsat

Business Chinese made cars, including Volvo and other brands, are seen at the port in Nanjing, in China's eastern Jiangsu province on April 16, 2025, as they wait to be loaded onto ships for export. (Photo by AFP)

WTO Slashes 2025 Trade Growth Forecast

The World Trade Organization sharply cut its forecast for global merchandise trade from solid growth to a decline on Wednesday, saying further US tariffs and…

Asharq Al Awsat
Business FILE PHOTO: Gold bars are displayed at a gold jewelry shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma/File Photo

Gold Prices Hit Records Above $3,300/oz

Gold prices pierced the $3,300 an ounce barrier to hit record highs as investors sought a refuge from the turbulence surrounding trade tensions between the…

Asharq Al Awsat
Business Saudi Ministry of Tourism Records Growth in Licensing Numbers for Private Hospitality Facilities in 2024

Saudi Ministry of Tourism Records Growth in Licensing Numbers for Private Hospitality Facilities in 2024

Preliminary data from the Ministry of Tourism indicates a 333% growth in the number of licenses issued to private tourism hospitality facilities in 2024…

Asharq Al Awsat
Business OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Oil up 1% on Potential for US-China Talks, Iraq Output Cut Plan

Oil prices rose around 1% on Wednesday, as the market drew some strength from the possibility of trade talks between China and the United States and a report…

Asharq Al Awsat
Business An Hydrogen H2 logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. REUTERS/Benoit Tessier/File Photo

Industries in Oman, Netherlands, Germany Strike Deal for Liquid Hydrogen Import Corridor

Major industrial groups from Oman, the Netherlands and Germany have signed an agreement for the development of the world’s first liquid hydrogen import…

Asharq Al Awsat
Business  The Kingdom's trade surplus with Arab League countries, including the GCC, significantly increased to SAR30,461 billion in Q4 2024 -File Photo

Saudi Arabia's Arab League Trade Exceeds SAR87 Billion in Q4 2024

Saudi Arabia's trade with Arab League nations, including the Gulf Cooperation Council (GCC), reached SAR87,768 billion in the fourth quarter of 2024,…

Asharq Al Awsat
Business People walk past a clothing shop in Beijing on April 16, 2025. (AFP)

China’s Economy Grows at a 5.4% Annual Pace in Jan-March Quarter 

China's economy expanded at a 5.4% annual pace in January-March, supported by strong exports ahead of US President Donald Trump’s rapid increases in tariffs on…

Business Vendors work at vegetable stalls at a market in Beijing on April 16, 2025. (AFP)

China Unexpectedly Anoints New Trade Negotiator Amid US Tariff War 

China on Wednesday unexpectedly appointed a new trade negotiator key in any talks to resolve the escalating tariff war with the US, replacing veteran trade…

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

Saudi Arabia Looks to Cambodia to Diversify Rice Imports

In a strategic move to diversify its food import sources and stabilize domestic markets, Saudi Arabia is encouraging the private sector to begin importing rice…

Bandar al-Mosalam (Riyadh)
Business White House Press Secretary Karoline Leavitt takes a question during a daily press briefing. (AFP)

Trump on Trade Talks with Beijing: Ball in China's Court

US President Donald Trump believes it is up to China, not the United States, to come to the negotiating table on trade, the White House said Tuesday. “The…

Asharq Al Awsat (Washington)
Business A general view of Riyadh, Saudi Arabia. (Reuters file)

Fitch: Trump Tariffs to Have Limited Impact on Gulf Banks

Credit rating agency Fitch Ratings expected that the US tariffs introduced by President Donald Trump will have only a limited direct impact on banks in the…

Asharq Al Awsat (London)
Business Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Minister of Industry and Mineral Resources Bandar Alkhorayef is leading a high-level delegation from the Kingdom’s industry and mining ecosystem on an official…

Asharq Al Awsat

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Business A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon Hopes to Meet Foreign Bondholders in Coming Year, Finance Minister Says

Lebanese officials hope to meet international bondholders to talk about restructuring debt in the next 12 months but are not planning any meetings at the World…

Asharq Al Awsat
Business A logo of Türkiye's Central Bank is pictured at the entrance to its headquarters in Ankara, Türkiye February 8, 2024. REUTERS/Cagla Gurdogan/File Photo

Turkish Central Bank 2024 Loss Around $18 billion

Türkiye 's central bank posted a loss of 700.4 billion lira ($18.4 billion) in 2024, according to its balance sheet published in the Official Gazette on…

Asharq Al Awsat
Business A teller counts US dollar bank notes at a money changer in Jakarta, Indonesia, April 9, 2025. Picture taken through glass. REUTERS/Willy Kurniawan/File Photo

Dollar Drifts as Traders Grapple with Tariff Uncertainty, Volatility

The dollar wobbled on Tuesday, languishing near a three-year low against the euro and a six-month trough against the yen it hit last week, as investors…

Asharq Al Awsat
Business A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold Rises as Investors Seek Safety amid Uncertainty on Trump Tariffs

Gold prices rose on Tuesday as investors continued to flock to the safe-haven asset amid uncertainty surrounding US President Donald Trump's tariff plans,…

Asharq Al Awsat
Business Finance Minister Choi Sang-mok, who serves concurrently as deputy prime minister for economic affairs, speaks during a meeting of economy-related ministers at the government complex in Seoul, South Korea, 11 April 2025. (EPA/Yonhap) 

South Korea Aims to Delay US Tariffs in Talks, Cooperate in Mutual Areas 

South Korea will seek to delay the implementation of tariffs as long as possible in negotiations with the United States, its finance minister said on Tuesday,…

Business A sign for Indonesia's sovereign wealth fund Danantara is seen in front of its headquarters in Jakarta, Indonesia, February 28, 2025. (Reuters) 

Indonesia, Qatar to Create $4 Bln Joint Fund Investing in Indonesia 

Sovereign wealth fund Danantara Indonesia said it will form a $4 billion joint fund with the Qatar Investment Authority that will focus on investment in…

Business A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)

Oil Edges up on Potential US Tariff Exemptions on Cars, Pick-up in China Crude Imports 

Oil prices inched higher on Tuesday, supported by new tariff exemptions floated by US President Donald Trump and a rebound in China crude oil imports in…

Business The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)

Saudi Arabia Calls for Global Water Cooperation to Advance Integrated Management

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday with the participation of top scientists, experts, decision…

Business The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)

Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held official talks on Sunday with US Secretary of Energy Chris Wright as part of his…

Business Japanese Prime Minister Ishiba Shigeru speaks at a joint press briefing after his meeting with NATO Secretary General Mark Rutte (not pictured) at the Prime Minister's Office in Tokyo, Japan, April 9, 2025. (Reuters)

Japan Says No Plan for Big Concessions in Talks on US Tariffs 

Japanese Prime Minister Shigeru Ishiba said on Monday his country does not plan to make big concessions and won't rush to reach a deal in upcoming tariff…

Business 12 April 2025, US, Miami: President of the United States of America Donald J. Trump greets fans at UFC 314 at the Kaseya Center in Miami, Florida. Photo: Alejandro Salazar/ZUMA Press Wire/dpa

Trump Warns No Country 'Off the Hook' on Tariffs

US President Donald Trump warned Sunday that no country would be "getting off the hook" on tariffs, as his administration suggested exemptions seen as favoring…

Asharq Al Awsat
Business Representation photo: Pumpjacks are seen in oilfields along Highway 33, known as the Petroleum Highway, west of Buttonwillow, Kern County, California on April 9, 2025. (Photo by Frederic J. BROWN / AFP)

Oil Rises on Rebound in China's Imports, But Trade War Concerns Persist

Oil prices edged up on Monday after Chinese data showed a sharp rebound in crude imports in March, although concerns that the escalating trade war between the…

Asharq Al Awsat