Business

50-Year Contracts Open New Horizons for Real Estate Investment in Saudi Arabia

Business A neighborhood in the Saudi capital, Riyadh (SPA)

50-Year Contracts Open New Horizons for Real Estate Investment in Saudi Arabia

Long-term real estate investment models are opening new opportunities for Saudi Arabia's private sector, as the Kingdom seeks to expand partnerships with…

Bandar al-Mosalam (Riyadh)
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 In this photo released by Xinhua News Agency, Chinese Vice Premier He Lifeng, right, shakes hands with US Treasury Secretary Scott Bessent before their meeting to discuss China-US trade, in London, Monday, June 9, 2025. (Xinhua via AP)

Trump Touts ‘Done’ Deal with Beijing on Rare Earths, Chinese Students

US President Donald Trump touted ties with China as "excellent" on Wednesday, saying the superpowers reached a deal after two days of talks aimed at preserving…

Business A building affiliated with the General Authority for Small and Medium Enterprises (Monsha’at website)

Saudi Arabia Strengthens Role of SMEs as Key Driver of Economic Growth

Saudi Arabia’s small and medium enterprises (SMEs) are experiencing unprecedented growth, positioning themselves as a vital pillar in the Kingdom’s efforts to…

Asharq Al Awsat (Riyadh)
Business China's Foreign Minister Wang Yi met with African officials in the city of Changsha located in southern Hunan province. (Reuters file)

China, Africa Ask US to Return to ‘Right Track’ on Trade Differences 

China and 53 African countries called on nations, especially the United States, to return to the "right track" of resolving trade differences, the official…

Business (FILES) A general aerial view shows the Sicilian coast towards Cape Torre Faro, over the Strait of Messina, taken from the outskirts of the town of Scilla, in Calabria region in southern Italy, on July 7, 2020. (Photo by Andreas SOLARO / AFP)

Italy Forges on with World's Largest Suspension Bridge

Italy hopes to begin constructing the world's largest suspension bridge connecting Sicily to the Italian mainland this summer amid widespread skepticism that…

Asharq Al Awsat
Business An American Airlines Boeing 737 MAX 8 flight from Los Angeles approaches for landing at Reagan National Airport in Washington, US, March 13, 2019. (Reuters)

Five Nations and EU Urge Trump Not to Impose New Airplane Tariffs 

Five nations and the European Union, as well as airlines and aerospace firms worldwide, urged the Trump administration not to impose new national security…

Business Shipping containers are stacked at the Port of Authority Savannah in Savannah, Georgia, US, May 6, 2025. (Reuters)

Tariffs Expected to Lift Underlying US Consumer Prices in May 

US consumer prices likely increased moderately in May amid relatively cheaper gasoline, but the Trump administration's import tariffs probably started…

Business Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)

IMF Team Makes First Syria Visit Since 2009

An IMF team visited Syria for the first time since 2009 to take part in efforts to rebuild the economy after years of civil war and the fall of Bashar al-Assad…

Business Sheikh Mohammed bin Rashid at Blue Line Metro groundbreaking ceremony – Asharq Al-Awsat

Dubai Expects $15.4 Bln in Economic Gains from Metro Blue Line

Dubai expects its newly launched Blue Line metro project to generate more than 56.5 billion dirhams ($15.4 billion) in cumulative economic, social and…

Asharq Al Awsat (Dubai )
Business A general view of Riyadh, Saudi Arabia. (AFP)

Saudi Arabia Revises Q1 Economic Growth Estimate Up to 3.4%

Saudi Arabia’s General Authority for Statistics has revised its annual economic growth figures for the Kingdom for the first quarter of 2025 to 3.4%, up from a…

Asharq Al Awsat (Riyadh)
Business So-called polymetallic nodules like those seen in this 2016 photograph from Japan are at the heart of the race to mine ocean floors for valuable minerals and metals. HO / JAMSTEC/AFP

China Carefully Assembling a Deep-sea Mining Strategy

In a world hungry for crucial resources, China may not be poised to start deep-sea mining but it is planting seeds for such operations in a meticulously…

Asharq Al Awsat
Business FILE - Pumpjacks are seen before sunrise in Hobbs, N.M., Feb. 24, 2025. (AP Photo/Julio Cortez, File)

Oil Up as Market Watches US-China Trade Talks

Oil prices climbed on Tuesday as investors awaited the outcome of US-China talks that could pave the way for easing trade tensions and improve fuel demand. …

Asharq Al Awsat
Business  Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)

China’s Car Sales Rise in May, but Price Wars Cloud Outlook

China's car sales rose for a fourth consecutive month in May, but slower increases across major automakers highlighted concerns over aggressive price…

Business Shipping containers are stacked at a port in Shanghai on June 9, 2025. (AFP)

China’s May Exports Slow, Deflation Deepens as Tariffs Bite

China's export growth slowed to a three-month low in May as US tariffs slammed shipments, while factory-gate deflation deepened to its worst level in two years…

Business Key agreements were signed during the 8th session of the Saudi-Azerbaijani Joint Committee. (Asharq Al-Awsat)

Azerbaijan Proposes Joint Investment Fund with Saudi Arabia to Strengthen Economic Partnership

In a significant step toward deepening economic and strategic ties, Azerbaijan is working to transform its growing partnership with Saudi Arabia into tangible…

Fatehelrahman Yousif (Riyadh)
Business A glimpse of visitors at the “Riyadh Season” events (SP

Saudi Arabia Eyes Tourism as Key Economic Pillar by 2030

Saudi Arabia is positioning its tourism sector to rival oil as a cornerstone of the national economy by 2030, targeting a 10% contribution to GDP. This…

Ayat Nour (Riyadh)
Business A large Syrian flag is raised on a pole at Tishreen Park in Damascus on June 4, 2025. (Photo by LOUAI BESHARA / AFP)

Syria Says to be Relinked to SWIFT Payment System

Syria will be fully reconnected to the SWIFT international payment system "in a matter of weeks" after more than a decade of sanctions, central bank governor…

Asharq Al Awsat
Business Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Mawani Reports 13% Growth in Container Handling at Ports in May 2025

Ports supervised by the Saudi Ports Authority (Mawani) recorded a 13% increase in container handling during May 2025, reaching 720,684 twenty-foot equivalent…

Asharq Al Awsat
Business A SABIC facility in Jilin, China (Company photo)

Gulf Petrochemical Sector Faces Mounting Challenges Amid Global Shifts

Over the past five years, the Gulf’s petrochemical industry has found itself at a critical juncture. A mix of rapid geopolitical developments, the lingering…

Mohammed al-Mutairi (Riyadh)
Business FILE PHOTO: The European Central Bank (ECB) in Frankfurt, is photographed during a heavy rain storm ahead of the ECB council meeting later this week, Germany, March 14, 2023. REUTERS/Kai Pfaffenbach/File Photo

Vujcic: ECB Should Not 'Overreact' if Inflation Edges Below 2%

The European Central Bank should not "overreact" to euro-zone inflation edging below its 2% target as there are good reasons to believe it will come back up,…

Asharq Al Awsat
Business Swedish Ambassador to Saudi Arabia Petra Menander during a tour of a Swedish company in Saudi Arabia. (Asharq Al-Awsat)

Swedish Ambassador: Swedish Companies Planning on Setting up Regional Headquarters in Saudi Arabia

Relations between Saudi Arabia and Sweden are witnessing rapid development with the expansion of cooperation in the fields of innovation, logistics and…

Fatehelrahman Yousif (Riyadh)
Business Commuters cross Pennsylvania Avenue in Washington, DC, during the morning rush hour. (Roberto Schmidt/AFP/Getty Images)

US Labor Market Slows Despite Job Adds in May

The United States added 139,000 jobs in May, more than expected but pointing to a labor market that continues to slow. The employment data released Friday…

Asharq Al Awsat (Washington)
Business A mining machine is seen at the Bayan Obo mine containing rare earth minerals, in Inner Mongolia, China July 16, 2011. Picture taken July 16, 2011. (Reuters)

China Says It May Speed up Rare Earths Application Approvals from EU

China is willing to accelerate the examination and approval of rare earth exports to European Union firms, its commerce ministry said on Saturday. Price…

Business People attend a morning prayer on the street during Eid al-Adha celebrations in Jakarta, Indonesia, 06 June 2025. (EPA)

Indonesia Expects to Conclude Free Trade Talks with EU by End of June

Indonesia said on Saturday that free trade negotiations with the European Union, which have been going on for nine years, are expected to finish by the end of…

Business The upcoming meeting in London comes after a call between Chinese President Xi Jinping and US President Donald Trump aimed at calming tensions over tariffs. Evgenia Novozhenina, SAUL LOEB / POOL/AFP/File

Trump Says Fresh US-China Trade Talks in London Next Week

US President Donald Trump announced Friday a new round of trade talks with China in London next week, a day after calling Chinese counterpart Xi Jinping in a…

Asharq Al Awsat