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 screen displaying the closing Hang Seng Index at Central district, in Hong Kong, China, April 7, 2025. (Reuters)

The Worst Market Crashes Since 1929 

Monday's stock market collapses in Asia and Europe after China retaliated to steep US tariffs revived memories of similar market turmoil after the Covid…

Business A woman looks at her phone in the financial district of Shanghai on April 7, 2025. (AFP)

China Metals Tumble on Recession Fears Amid Escalating Trade War 

Base metal prices in China tumbled on Monday amid escalating trade war concerns and recession fears, while London metals flipped to a decline after rising on…

Business An electronic board shows Shanghai and Shenzhen stock indices as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai, China April 2, 2025. (Reuters)

World Markets Crash as Trump Tariffs Hold and Global Recession Warnings Grow Louder

World markets crashed on Monday with Asia leading the rout, as US President Donald Trump held firm on his swingeing tariffs despite China retaliating and…

Business A large indicator board displays Tokyo Stock Exchange figures in Tokyo, Japan, 07 April 2025. (EPA)

Stocks Savaged as China Retaliation to Trump Tariffs Fans Trade War 

Asian and European equities collapsed on a black Monday for markets after China hammered the United States with its own hefty tariffs, ramping up a trade war…

Business FILE PHOTO: A general view shows Marathon Petroleum's oil refinery, following Russia's invasion of Ukraine, in Anacortes, Washington, US, March 9, 2022.  REUTERS/David Ryder/File Photo

Oil Tumbles Further as US-China Trade Tensions Fuel Recession Fears

Oil prices extended last week's losses on Monday, with WTI falling more than 4%, as escalating trade tensions between the United States and China stoked fears…

Asharq Al Awsat
Business People sit by at the newly refurbished Martyr's Square in the Libyan capital Tripoli on April 4, 2025. (AFP)

Libya Devalues Currency for First Time in Four Years 

Libya's central bank announced a 13.3% devaluation of the country's dinar currency on Sunday, setting the exchange rate at 5.5677 to the US dollar effective…

Business The issuance of the certificate follows Riyadh Air's successful fulfillment of all regulatory and operational requirements in accordance with the executive regulations of the Civil Aviation Law. (SPA)

GACA Grants Air Operator Certificate to Riyadh Air, Paving the Way for Launch of Commercial Flights 

President of Saudi Arabia's General Authority of Civil Aviation (GACA) Abdulaziz bin Abdullah Al-Duailej handed over on Sunday the Air Operator Certificate …

Business A view of a container terminal at Tanjung Priok Port in Jakarta, Indonesia, February 12, 2025. (Reuters)

More than 50 Countries Have Contacted White House to Start Trade Talks, Trump Adviser Says

More than 50 countries have reached out to the White House to begin trade talks, a top economic adviser to US President Donald Trump said on Sunday as US…

Business Hotels, banks and offices on the Nile River in Cairo (Reuters)

Egypt’s Net Foreign Assets Rise in February

Egypt’s net foreign assets (NFAs) increased by $1.48 billion in February, marking the second monthly rise this year following consecutive declines in the final…

Asharq Al Awsat
Business The OPEC logo behind a model of an oil excavator. (Reuters)

OPEC+ Credits Voluntary Oil Cuts for Market Stability

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) commended the additional voluntary oil production cuts implemented by eight member states, saying the…

Business FILE PHOTO: An EU flag flutters. Reuters

EU Seeks Unity in First Strike Back at Trump Tariffs

European Union countries will seek to present a united front in the coming days against US President Donald Trump's tariffs, likely approving a first set of…

Asharq Al Awsat
Business Textile and garment production accounts for about 80 percent of exports in Bangladesh. Munir UZ ZAMAN / AFP/File

Leading Garment Producer Bangladesh Holds Crisis Talks on US Tariffs

Bangladesh's interim leader called an emergency meeting on Saturday after textile leaders in the world's second-largest garment manufacturing nation said US…

Asharq Al Awsat
Business Türkiye's Vice President Cevdet Yilmaz speaks during a press conference to unveil a savings measures package in Ankara, Türkiye, May 13, 2024. REUTERS/Umit Bektas/File Photo

Trump's Baseline Tariff Plays to Türkiye’s Advantage, Vice President Says

The relatively low 10% baseline tariff that the United States has applied to Türkiye could favor Turkish exporters, Türkiye's vice president told broadcaster…

Asharq Al Awsat
Business US and Chinese flags and a label with the word "34% Tariffs" are seen in this illustration taken, April 4, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

China to US: 'Market Has Spoken' after Tariffs Spur Selloff

China said on Saturday "the market has spoken" in rejecting US President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after…

Asharq Al Awsat
Business A man counts Iranian rials at a currency exchange shop in Basra, Iraq. (Reuters file photo)

Iran's Currency Falls to Record Low against the Dollar as Tensions Run High

Iran’s rial currency traded Saturday at a record low against the US dollar as the country returned to work after a long holiday. The rial had plunged to over…

Asharq Al Awsat
Business FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, US, March 27, 2025.  REUTERS/Mike Blake/File Photo

Nissan Reportedly Considers Transferring Some Domestic Production to US

Nissan Motor is considering shifting some domestic production of US-bound vehicles to the US, the Nikkei reported on Saturday, as President Donald Trump ramps…

Asharq Al Awsat
Business Cargo containers line a shipping terminal at the Port of Oakland on Friday, April 4, 2025, in Oakland, Calif. (AP Photo/Noah Berger)

US Starts Collecting Trump's New 10% Tariff

US customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods…

Asharq Al Awsat (Washington)
Business A previous meeting between the Saudi Minister of Commerce, Chairman of the Economic and Social Committee of the Saudi-British Strategic Partnership Council, and the UK Minister of State for Business and Trade in Riyadh (SPA)

Saudi-British Business Council to Turn Sustainability, Green Finance Deals into Reality

The Saudi-British Joint Business Council (SBJBC) has revealed ongoing efforts to translate agreements aimed at advancing sustainability, clean energy, and…

Fatehelrahman Yousif (Riyadh)
Business Tesla’s logo on a building of the Tesla Gigafactory in Gruenheide, near Berlin, Germany, 03 April 2025. (EPA)

Tesla, Chips, and Banks Tumble as China’s Retaliation Stokes Fears of Widening Trade War

US chip companies, banks and oil majors fell sharply on Friday after China retaliated to Trump's tariffs with steep duties, in an intensifying trade war…

Business Oranges are sold at a store in Annapolis, Maryland, on April 4, 2025. (AFP)

Trump’s Tariff Push Is a Race against Time, and Potential Voter Backlash

President Donald Trump's expansive new tariffs reverse a decades-long global trend of lower trade barriers and are likely, economists say, to raise prices for…

Business  Workers perfom their duties at Quantum Apparel factory on the outskirts of Maseru, the capital of Lesotho, the tiny Southern African kingdom that US President Donald Trump ridiculed last month, April 4, 2025. (Reuters)

How Tiny Lesotho Ended up with the Highest US Tariffs in the World

If you have ever bought a pair of jeans from an American brand like Levi’s or Wrangler, chances are they were manufactured at a factory in the small southern…

Business An aerial view of a Cosco Shipping container ship, China's largest shipping line, loaded with shipping containers in the Port Of Long Beach on April 3, 2025 in Long Beach, California. (AFP/Getty Images)

China Punches Back as World Weighs How to Deal with Higher US Tariffs

Countries and industries were scrambling Friday to respond as President Donald Trump’s latest tariffs hikes upend global trade and world markets. China took…

Business Lebanon's newly appointed central bank governor Karim Souaid speaks during a handover ceremony in Beirut on April 4, 2025. (Photo by ANWAR AMRO / AFP)

Lebanon's New Central Bank Chief Vows to Fight Money Laundering

Lebanon’s new central bank governor vowed Friday that the institution will fight money laundering and the financing of terrorism and will work independently…

Asharq Al Awsat (Beirut)
Business FILE PHOTO: US President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, DC, US, April 2, 2025. REUTERS/Carlos Barria/File Photo

Trump Tariffs Sow Fears of Trade Wars, Recession and a $2,300 iPhone

Countries around the world threatened to wage a trade war with the United States as President Donald Trump's sweeping tariffs fed expectations for a global…

Asharq Al Awsat