Business

Saudi Arabia Expands Tourist E-Visa Eligibility to Four More Countries

Business The tourist visa allows visitors to attend events, perform Umrah, and visit exhibitions and conferences (SPA)

Saudi Arabia Expands Tourist E-Visa Eligibility to Four More Countries

Saudi Arabia has expanded its electronic tourist visa program by adding four countries to the list of eligible nationalities: Mexico, North Macedonia, Serbia,…

Asharq Al Awsat (Riyadh)
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 Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)

Saudi Arabia, US Commit to Deeper Economic Ties with Energy, Industry Deals as Trump Visits Riyadh

Saudi Arabia and the United States signed on Tuesday energy and industry agreements as President Donald Trump visited Riyadh where he was welcomed by Crown…

Business  IBM’s pavilion at the LEAP 2025 conference in Riyadh. (IBM) 

IBM: Saudi Arabia Poised to Lead Digital Transformation in the Middle East  

As Riyadh welcomed US President Donald Trump on Tuesday, discussions have resurfaced around the profound transformations taking place in Saudi Arabia’s…

Asharq Al Awsat (Riyadh)
Business Saudi Investment Minister Khalid al-Falih speaks at the forum. Asharq Al-Awsat

Al-Falih: Saudi-US Investment Forum Consolidates the 2 Countries’ Partnership

Saudi Investment Minister Khalid al-Falih said Tuesday the Saudi-US Investment Forum consolidates the partnership between the two countries. Al-Falih…

Asharq Al Awsat (Riyadh)
Business Owners of a "bufe", a Turkish word to call small corner restaurants with a couple of stools outside or inside, wait for customers at Uskudar neighborhood in Istanbul, Türkiye, April 23, 2025. (Reuters)

Türkiye's Recent Political Events Hit Economy, Reserves, Says EBRD 

Recent political events in Türkiye stymied the country's path to slowing inflation and the fallout affected the economy as well as foreign exchange reserves,…

Business File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)

US and Saudi Firms Leverage Trump’s Visit for Strategic Deals

In a high-stakes display of economic ambition, US and Saudi corporate leaders are seizing the opportunity presented by former President Donald Trump’s visit to…

Fatehelrahman Yousif (Riyadh)
Business Dubai’s Department of Finance signed on Monday a new MoU with global digital asset platform Crypto.com. WAM

Dubai to Allow Residents Pay Government Services Using Cryptocurrency

Dubai is preparing to allow residents to pay for government services using cryptocurrency, signaling the emirate’s intent to support the Dubai Cashless…

Asharq Al Awsat (Dubai)
Business World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala (L) meets with Japan's Prime Minister Shigeru Ishiba at the latter's office in Tokyo on May 13, 2025. (Photo by Kazuhiro NOGI / POOL / AFP)

World Trade Chief Says Global Free Trade is in a 'Crisis'

Global free trade is in crisis, the head of the World Trade Organization chief said Tuesday while meeting Japanese Prime Minister Shigaru Ishiba on Tuesday. …

Asharq Al Awsat
Business Saudi Aramco CEO Amin Nasser speaks at an event in Houston. (AFP file)

Saudi Aramco CEO: Oil Demand to Remain Resilient Despite Recent Upheaval 

Saudi oil giant Aramco expects oil demand to remain resilient this year and sees further upside if the US and China successfully resolve their trade dispute. …

Asharq Al Awsat (Riyadh)
Business Saudi Crown Prince Mohammed bin Salman. SPA

Saudi Arabia Launches HUMAIN to Develop Artificial Intelligence

Saudi Crown Prince Mohammed bin Salman has launched a new company under the Public Investment Fund (PIF) named HUMAIN to develop and manage artificial…

Asharq Al Awsat (Riyadh)
Business  People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)

Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

Turkish stocks jumped on Monday, bonds climbed and the lira rallied against the euro as news the Kurdistan Workers Party (PKK) militant group was ending its…

Business The price range for the offering had been set at between 76 and 80 riyals per share. (SPA)

Saudi Arabia’s Flynas Seeks to Raise up to $1.1 Bln in IPO 

Saudi Arabian budget airline flynas is seeking to raise up to 4.1 billion riyals ($1.1 billion) from an initial public offering in Riyadh, it said on Monday. …

Business US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer attend a news conference after trade talks with China, in Geneva, Switzerland, May 12, 2025. REUTERS/Emma Farge

US Trade Representative Greer Says US and China to Roll Back Most Tariffs

US and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs for 90 days and keep talking to resolve their trade…

Asharq Al Awsat
Business A recent meeting at Arabian International Co. for Steel Structures (AIC) in Jeddah to announce the First Saudi Produced THAAD Components 

Lockheed Martin Completes First Saudi Produced THAAD Components

The US Lockheed Martin company announced on Sunday that Saudi Arabia has completed the first domestically manufactured components for the Terminal High…

Asharq Al Awsat (Jeddah)
Business Gold jewelry are displayed for sale at V&P Jewelry in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles in Los Angeles, Wednesday, April 30, 2025. (AP Photo/Jae C. Hong)

Gold Falls as Positive US-China Talks Hamper Safe-haven Appeal

Gold slipped on Monday as positive US-China trade talks alleviated market fears, leading investors to shift from safe-haven assets towards riskier investments…

Asharq Al Awsat
Business The Saudi flag. Asharq Al-Awsat

Riyadh International Industry Week 2025 Kicks off Monday

Riyadh International Industry Week 2025 is set to launch on Monday, bringing together more than 524 exhibitors from 20 countries. The premier industrial event…

Asharq Al Awsat
Business US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer speak to the media after talks between seniors US and Chinese officials on tariffs at the residence of the permanent Swiss ambassador to the United Nations in Geneva on May 11, 2025. (Photo by VALENTIN FLAURAUD / AFP)

US, China Reach Deal to Cut Trade Deficit, US Officials Say

US Treasury Secretary Scott Bessent on Sunday reported "substantial progress" in US talks with China's top economic officials to de-escalate a damaging trade…

Asharq Al Awsat
Business GASTAT released on Sunday its Industrial Production Index (IPI) for March 2025

GASTAT: Saudi Industrial Production Index Up 2.0% in March 2025

Saudi Arabia’s General Authority for Statistics (GASTAT) released on Sunday its Industrial Production Index (IPI) for March 2025, revealing a 2.0% increase in…

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

A Century of Partnership: How Oil Forged the US-Saudi Strategic Alliance

Long before the iconic 1945 meeting between King Abdulaziz Al Saud and US President Franklin D. Roosevelt aboard the USS Quincy in Egypt’s Suez Canal, the…

Mirza al-Khuweildi (Dhahran)
Business Trump and the Saudi Crown Prince attend a business lunch in Washington in 2018 (AFP)

Trump to Visit Saudi Arabia as Major Announcements Expected

US President Donald Trump is scheduled to arrive in Riyadh next Tuesday on his first official foreign trip since beginning his second term in office. The visit…

Hala Saghbini (Riyadh)
Business Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)

Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish…

Asharq Al Awsat
Business  US Secretary of the Treasury Scott Bessent, listens to the speeches, during a bilateral meeting between Switzerland and the United States, in Geneva, Switzerland, on Friday, May 9, 2025. (Martial Trezzini/Keystone via AP)

US, Chinese Officials Start Geneva Talks on Easing Trade War

China's vice premier He Lipeng held talks with US Treasury Secretary Scott Bessent early on Saturday in Geneva in a tentative first step towards defusing a…

Business  Cotton candy vendors walk during a dusty weather, before expected sandstorm, in Cairo, Egypt, Wednesday, April 30, 2025. (AP)

Egyptian Inflation Climbs to 13.9% in April

Egypt's annual urban consumer price inflation accelerated to 13.9% in April from 13.6% in March, matching analyst expectations, data from statistics agency…

Business A wind turbine at the Suez Energy Project. (ACWA Power)

ACWA Power Reports 44% Surge in Q1 Profit to $113.8 Million

Saudi energy and water developer ACWA Power reported a 44% year-on-year increase in net profit for the first quarter of 2025, reaching SAR 427.15 million ($113…

Asharq Al Awsat (Riyadh)
Business A general view of a guest wearing a Union flag ahead of a concert to mark the 80th Anniversary of VE Day at Horse Guards Parade on May 08, 2025 in London, England. (Reuters)

UK, Switzerland Sign Agreement Aimed at Direct Rail Link 

Britain and Switzerland signed an agreement aimed at establishing a direct rail link between London and Switzerland, a government statement said on Friday. …