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 A glimpse of a recent job fair held in Saudi Arabia (Asharq Al-Awsat)

Saudi Vision Drives Localization, Reduces Unemployment to 7%

Since the launch of Saudi Arabia's Vision 2030 in 2016, the Kingdom has focused on a clear goal: building a diversified and sustainable economy, reducing its…

Asharq Al Awsat (Riyadh)
Business Digital City in Riyadh, Saudi Arabia (Asharq Al-Awsat)

Saudi Vision Drives Digital Transformation, Boosts Knowledge Economy Progress

Saudi Arabia has cemented its position as one of the world’s leading emerging digital economies, driven by an ambitious strategic vision under its “Vision 2030…

Asharq Al Awsat (Riyadh)
Business The Saudi capital Riyadh. SPA

Vision 2030 Progress Accelerates Saudi Arabia’s Economic Growth

Saudi Arabia is nearing the end of the second phase of its Vision 2030 plan (2021-2025), a period that has seen strong growth and expanding opportunities…

Asharq Al Awsat (Riyadh)
Business A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia's Non-Oil Exports Hit Historic High of SAR515 Billion in 2024

Saudi Arabia's non-oil exports reached an unprecedented SAR515 billion in 2024, marking the highest value in the Kingdom's history. This achievement represents…

Business US President Donald Trump speaks to members of press onboard Air Force One on a flight to Fiumicino Airport near Rome to attend the funeral of Pope Francis, April 25, 2025. (Reuters)

World Breathes Sigh of Relief as Trump Spares Fed, IMF

Global policymakers gathering in Washington this week breathed a collective sigh of relief that the US-centric economic order that prevailed for the past 80…

Business  King Abdullah Port, Saudi Arabia (Asharq Al-Awsat)

Growth of Non-Oil Sectors Position Saudi Arabia Among Leading Global Economies

Saudi Arabia’s economy continued its upward trajectory in 2024, solidifying its status as one of the world’s most stable and fastest-growing markets. This…

Asharq Al Awsat (Riyadh)
Business International Monetary Fund (IMF) Managing Director Kristalina Georgieva, right, and International Monetary and Financial Committee (IMFC) chair Saudi Arabia's Finance Minister Mohammed Al-Jadaan speak during a news conference after the International Monetary and Financial Committee (IMFC) meeting, during the World Bank/IMF Spring Meetings at the International Monetary Fund (IMF) headquarters in Washington, Friday, April 25, 2025. (AP)

IMF Policy Committee Underscores Trade Risks to Global Economy, Commits to Fund’s Role

International Monetary Fund member countries said on Friday that rising trade tensions were sapping growth and fueling uncertainty as well as market and…

Business Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay Banga are seen at Friday's meeting. (SPA)

Saudi Arabia, IMF, World Bank Stress Int’l Commitment to Syria’s Economic Recovery

Saudi Finance Minister Mohammed Al-Jadaan, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, and World Bank Group (WBG) President Ajay…

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

US-Saudi Business Council Hosts High-Level Investment Event

The US-Saudi Business Council, in collaboration with the White House and the US Department of Commerce, hosted a high-level investment event on Friday in…

Asharq Al Awsat
Business International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)

Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

Officials from the International Monetary Fund, World Bank and key countries met with Syrian authorities this week on efforts to rebuild the war-torn country,…

Business TOPSHOT - An aerial view shows cargo containers stacked at a port in Shanghai on April 20, 2025. (Photo by AFP) / China OUT

China Exempts Some Goods from US Tariffs to Limit trade War Pain

China has exempted some US imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified,…

Asharq Al Awsat
Business FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo

Gold Slips More Than 1% as China Considers US Tariff Exemption

Gold prices lost more than 1% on Friday and were heading for a weekly fall on signals of a potential de-escalation in the US-China trade war, including news…

Asharq Al Awsat
Business King Abdulaziz Port in Dammam, Eastern Saudi Arabia (Asharq Al-Awsat)

Saudi Trade Surplus Hits 10-Month High as Imports Decline

Saudi Arabia posted its highest trade surplus in 10 months in February, buoyed by a sharp drop in merchandise imports, a trend that supports state revenues,…

Bandar al-Mosalam (Riyadh)
Business A general view shows container ships at a terminal with Hong Kong's financial center, including IFC 2, in the background in Hong Kong, China, April 23, 2025. REUTERS/Tyrone Siu 

China Denies It Is Currently in Talks with Washington over Tariffs

Beijing on Thursday denied it has held trade talks with Washington despite repeated comments from the US government suggesting there had been engagement. …

Asharq Al Awsat
Business French economy minister Eric Lombard (center) says the European Union and the United States were still far from a tariffs deal. Jim WATSON / AFP

French Minister: EU Still Far from Tariff Deal with US

The European Union and United States are far from reaching a deal on tariffs, France's economy minister said Thursday, as the bloc seeks a way out from trade…

Asharq Al Awsat
Business FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo

Gold Rises on Dip-buying, Focus on US-China Trade Updates

Gold prices rebounded on Thursday as investors bought bullion following a sharp decline in the previous session, while focus still remained on US-China trade…

Asharq Al Awsat
Business A view shows Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir

Lebanon Receives $250 million World Bank Loan to Ease Power Problems

The World Bank has granted Lebanon a $250 million loan aimed at helping alleviate persistent power cuts worsened by last year's war between Israel and…

Asharq Al Awsat
Business Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas//File Photo

Turkish Central Bank Governor: Decisive Tight Policy Contains Re-dollarization Risks

Turkish central bank governor Fatih Karahan said that monetary policy has been proactive and that re-dollarization risks are contained by a decisive tight…

Asharq Al Awsat
Business FILE PHOTO: The Phillips 66 Carson refinery is shown after the company said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California's fuel supply, in Carson, California, US, October 17, 2024.  REUTERS/Mike Blake/File Photo

Oil Regains Ground after 2% Drop

Oil prices recovered some losses on Thursday after falling nearly 2% in the previous session, with investors weighing a potential OPEC+ output increase against…

Asharq Al Awsat
Business World Bank President Ajay Banga speaks during the Spring Meetings in Washington (AFP).

World Bank Slashes Growth Forecasts for MENA Region amid Global Uncertainty

The World Bank has sharply downgraded its growth projections for the Middle East and North Africa (MENA) region, cutting its forecasts for 2025 and 2026 to 2.6…

Asharq Al Awsat (Washington)
Business Fahd Hamidaddin, CEO of the Saudi Tourism Authority (Asharq Al-Awsat)

Virgin Atlantic Launches Direct Flights Linking Europe, the US, and Saudi Arabia

King Khalid International Airport in Riyadh has welcomed the inaugural flight of British airline Virgin Atlantic from London Heathrow, marking a major…

Bandar al-Mosalam (Riyadh)
Business  Treasury Secretary Scott Bessent speaks, Wednesday, April 23, 2025, to the Institute of International Finance Global Outlook Forum at the Willard Hotel in Washington. (AP)

US Treasury's Bessent Urges IMF, World Bank to Refocus on Core Missions

US Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic…

Business Saudia Group announced a new aircraft deal with Airbus to enhance its fleet - AFP

Saudia Group Signs Deal with Airbus to Acquire up to 20 Wide-Body Aircraft

Saudia Group announced in a press release on Wednesday a new aircraft deal with Airbus to enhance its fleet by adding up to 20 new wide-body A330neo aircraft,…

Asharq Al Awsat
Business A container ship sails along Nakhodka Bay near the oil terminal in the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel/File Photo

Oil Prices Rise on Iran Sanctions, Decline in US Crude Stocks

Oil prices rose on Wednesday after a fresh round of US sanctions on Iran, a drop in US crude stocks and a softer tone from US President Donald Trump towards…

Asharq Al Awsat