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 An International Monetary Fund (IMF) police officer directs delegates as people arrive to the building during the World Bank/IMF Spring Meetings at the International Monetary Fund (IMF) headquarters in Washington, Tuesday, April 22, 2025. (AP Photo/Jose Luis Magana)

IMF Appoints First Mission Chief to Syria in 14 Years

The International Monetary Fund has appointed Ron van Rooden as head of its mission to Syria, Syria's Finance Minister Mohammed Yosr Bernieh said in a written…

Asharq Al Awsat
Business Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)

Saudi Social Development Bank Surpasses $43.2 Billion in Total Financing

The Saudi Social Development Bank has announced that its total financing since inception has exceeded SAR162 billion (USD43.2 billion), benefiting more than 10…

Asharq Al Awsat (Riyadh)
Business Traffic moves during a sandstorm in Doha on April 15, 2025. (AFP)

IMF Projects Pessimistic Outlook on MENA Economies

The International Monetary Fund (IMF) on Tuesday gave a pessimistic outlook for economic growth in the Middle East and North Africa (MENA) for the next two…

Asharq Al Awsat (Washington)
Business A passenger completing travel procedures at King Khalid International Airport in Riyadh (Asharq Al-Awsat)

Saudi VAT Refund Scheme Poised to Boost Tourism and Retail Spending

Saudi Arabia’s recent decision to allow foreign tourists to reclaim value-added tax (VAT) on eligible purchases is expected to significantly enhance the…

Bandar al-Mosalam (Riyadh)
Business Chinese President Xi Jinping, center, applauds during a signing ceremony with Azerbaijani President Ilham Aliyev at The Great Hall of The People on Wednesday, April 23, 2025, in Beijing. (Iori Sagisawa/Pool Photo via AP) 

China’s President Xi Says Tariffs and Trade Wars Hurt World Economic Order 

Chinese President Xi Jinping said on Wednesday that tariff and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral…

Business Customers at a smartphone store in Riyadh. (Asharq Al-Awsat)

US Tariff Exemptions Boost iPhone Sales in Saudi Arabia

Smartphone sales in Saudi Arabia have surged in recent weeks, driven largely by temporary US tariff exemptions on imported electronics, including Apple iPhones…

Asharq Al Awsat (Riyadh)
Business International Monetary Fund (IMF) Chief Economist Pierre-Olivier Gourinchas speaks on the "World Economic Outlook" during the IMF/World Bank Group Spring Meetings in Washington, DC, on April 22, 2025. (AFP)

IMF Cuts Growth Forecasts for Most Countries in Wake of Century-High US Tariffs

The International Monetary Fund on Tuesday slashed its growth forecasts for the United States, China and most countries, citing the impact of US tariffs now at…

Business A cargo ship crosses the Gibraltar Strait near Tangier Med Port, Morocco, Sunday, April 20, 2025. (AP)

Morocco’s Annual Inflation Slows to 1.6% in March

Morocco's annual inflation, measured by the consumer price index, eased to 1.6% in March, from 2.6% a month earlier, Morocco's statistics agency said on…

Business The inauguration of PepsiCo’s new regional headquarters in Riyadh.

PepsiCo: $2.4 Billion Has Been Invested in Saudi Arabia

US multinational food and beverage giant PepsiCo announced the launch of a new research and development center in Riyadh, as part of its strategic expansion…

Bandar al-Mosalam (Riyadh)
Business A photo of Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi in 2019 (SPA)

Saudi-Indian Business Council: Modi’s Visit to Launch Strategic Private Sector Partnership

Indian Prime Minister Narendra Modi is expected to arrive in Saudi Arabia on Tuesday for an official visit during which he will meet with Crown Prince Mohammed…

Fatehelrahman Yousif (Riyadh)
Business The logo and trading information for Chevron is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, US, June 27, 2022. (Reuters)

Chevron Announces First Oil at Ballymore Project in Gulf of Mexico  

Chevron has started oil and gas production from a project in the US Gulf of Mexico, the oil major said on Monday, bringing the company a step closer toward its…

Asharq Al Awsat (Houston)
Business The signing of an MoU between the Oil Sustainability Program (OSP) and Hyundai Motor Company (SPA)

OSP Signs MoU with Hyundai Motor Company to Advance Technological Innovation in Sustainable Mobility

OSP (Oil Sustainability Program) signed a Memorandum of Understanding (MoU) with Hyundai Motor Company in Seoul, South Korea, marking a significant step…

Asharq Al Awsat
Business A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)

India Imposes Temporary Tariff on Some Steel to Stem Cheap Imports from China 

India, the world's second-biggest producer of crude steel, on Monday imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty,…

Business The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, US, November 22, 2019. REUTERS/Angus Mordant/File Photo

Oil Prices Climb on Short-covering, but Tariff Concerns Linger

Oil prices climbed on Tuesday as investors took advantage of the previous day's losses to cover short positions, although concerns persisted over economic…

Asharq Al Awsat
Business Mawani Adds New CSTAR LINE IMB1 Shipping Service to Jeddah Islamic Port

Mawani Adds New CSTAR LINE IMB1 Shipping Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) has announced the addition of the new IMB1 shipping service, operated by CSTAR LINE, to Jeddah Islamic Port as part of its…

Asharq Al Awsat
Business Cargo ships are anchored in the Marmara Sea as they await to cross the Bosphorus, in Istanbul, Türkiye, Sunday, April 13, 2025. (AP)

Türkiye's Simsek to Meet Ratings Agencies, Investors on US Trip

Turkish Finance Minister Mehmet Simsek said he will meet with rating agencies, investors and companies planning to shift supply to Türkiye during a visit to…

Business The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)

Saudi Aramco Signs Development Deal with China’s EV Giant BYD

Saudi oil giant Aramco signed a joint development agreement with Chinese electric vehicle (EV) manufacturer BYD to explore collaboration in the development of…

Business  A view of ships under construction at the Shanghai Shipyard in in Shanghai, China, Sunday, April 20, 2025. (Chinatopix via AP)

Tariff Deal Talks to Dominate IMF-World Bank Meetings This Week

Hundreds of global finance leaders will descend on Washington this week, each with a singular mission: Who can I talk with to cut a trade deal? The semi…

Business FILE PHOTO: A Boeing 737 MAX plane, intended for China's Xiamen Airlines, arrives at King County International Airport after returning from China due to ongoing tariff disputes, in Seattle, Washington, US April 19, 2025. REUTERS/Dan Catchpole/File Photo

Second Boeing Jet Starts Return from China, Tracker Shows

A second Boeing jet intended for use by a Chinese airline was heading back to the US on Monday, flight tracking data showed, in what appears to be another…

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

Gold Hits Record High on Trade War Woes, Weak Dollar

Gold scaled a record peak on Monday, spurred by concerns over global economic growth amid the US-China trade war, while a weaker dollar further boosted the…

Asharq Al Awsat
Business FILE PHOTO: A drone view shows a cargo ship at Kwai Tsing Container Terminals in Hong Kong, China, April 16, 2025. REUTERS/Tyrone Siu

China Slams 'Appeasement' of US as Nations Rush to Secure Trade Deals

China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, vowing countermeasures against those who "appease"…

Asharq Al Awsat
Business Chair of the European Parliament’s Foreign Affairs Committee David McAllister. (European Parliament)

EU Says Ready to Resume Free Trade Talks with Gulf

Chair of the European Parliament’s Foreign Affairs Committee David McAllister said the European Union is ready to resume free trade negotiations with the…

Abdulhadi Habtor (Riyadh)
Business The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, US, November 22, 2019. REUTERS/Angus Mordant/File Photo

Oil Falls on Signs of Progress in US-Iran Talks amid More Market Stress

Oil prices fell more than 2% on Monday on signs of progress in talks between the US and Iran while investors remained concerned about economic headwinds from…

Asharq Al Awsat
Business The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)

Saudi Arabia Makes Significant Progress in 2025 International IP Index

Saudi Arabia made significant progress in the 13th edition of the US Chamber of Commerce's International IP Index, recording a 17.55% increase in its overall…