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 FILE PHOTO: Gold bars are displayed at a gold jewelery shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma (INDIA - Tags: BUSINESS COMMODITIES)/File Photo

Gold Falls as Traders Gauge Risk Outlook on Trump's Tariff Clarity

Gold prices fell on Friday as investors reassessed their risk outlook in the wake of US President Donald Trump's tariff measures, which have provided more…

Asharq Al Awsat
Business International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, US September 4, 2018. REUTERS/Yuri Gripas/File Photo 

IMF's Georgieva Says US Tariffs Represent Significant Risk to Global Outlook

Sweeping tariffs announced on Wednesday by US President Donald Trump pose a significant risk to the global economy at a time when growth has been sluggish, the…

Asharq Al Awsat (Washington)
Business FILE PHOTO: FILE PHOTO: BP Chairman Helge Lund speaks during an interview with Reuters at BP's headquarters in London, Britain, June 25, 2019. REUTERS/Dylan Martinez/File Photo/File Photo

BP Chair Helge Lund to Step Down

BP Chair Helge Lund intends to step down "likely during 2026" and the process to pick his successor has started, BP said on Friday amid a campaign by activist…

Asharq Al Awsat
Business FILE PHOTO: A 3D-printed miniature model of US President Donald Trump, US Flag and word "Tariffs" are seen in this illustration taken, April 2, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Where Trump's Tariffs Could Hurt Americans' Wallets

As global financial markets plunge in the wake of US President Donald Trump's "Liberation Day" tariffs, Americans must also grapple with the potentially long…

Asharq Al Awsat
Business FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

OPEC+ Speeds Up Oil Output Hikes

Eight OPEC+ countries agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day in May. Eight…

Asharq Al Awsat (London)
Business US Dollar banknote is seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Dollar Tumbles as Investors Seek Safe Havens after US Tariffs

The dollar weakened broadly on Thursday, while the euro rallied after President Donald Trump announced harsher-than-expected tariffs on US trading partners,…

Asharq Al Awsat
Business FILE PHOTO: An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo

Oil Slumps 3% as Trump's Tariffs Expected to Impede Demand

Oil prices fell by over 3% on Thursday after US President Donald Trump announced sweeping new tariffs which investors worry will enflame a global trade war…

Asharq Al Awsat
Business Gold bars at a gold shop in Bangkok, Thailand, 01 April 2025. EPA/RUNGROJ YONGRIT

Gold Eases from Record Peak on Profit-taking; Trump's Tariffs in Focus

Gold dipped on Thursday as traders locked in profits after prices hit a record high, following a rush to safe-haven assets triggered by US President Donald…

Asharq Al Awsat
Business Representation photo: The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, February 15, 2018. REUTERS/Staff/Remote

European Shares Sink as Trump's Aggressive Tariffs Escalate Trade War

European shares slumped to a two-month low on Thursday, with trade-sensitive Germany hit the hardest, as a fresh round of aggressive US tariffs escalated a…

Asharq Al Awsat
Business Riyadh (SPA)

Saudi Arabia Enacts Reforms to Boost Business Climate, Investment Appeal

Saudi Arabia will enforce two major regulatory frameworks, the Law of Commercial Register and Law of Trade Names, starting Thursday, marking a significant…

Asharq Al Awsat (Riyadh)
Business US President Donald Trump holds a "Foreign Trade Barriers" document as he delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., US, April 2, 2025. REUTERS/Carlos Barria

Trump Escalates Trade War with Sweeping Global Tariffs

US President Donald Trump intensified a global trade war Wednesday as he slapped sweeping tariffs on imports from allies and foes alike, sending markets into a…

Asharq Al Awsat
Business FILE PHOTO: A view shows an oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia, June 4, 2023. REUTERS/Alexander Manzyuk/File Photo

Oil Steadies as Market Awaits Fresh US Tariffs

Oil prices were little changed on Wednesday as traders remained cautious ahead of US tariffs due to be announced at 2000 GMT, fearing they could exacerbate a…

Asharq Al Awsat
Business Construction work at the El-Dabaa nuclear power plant. (Egyptian Nuclear Power Plants Authority)

Egypt Makes Progress in its Nuclear Energy Project

Egypt has reported significant progress in the construction of the El-Dabaa nuclear power plant in the country’s northwest, a project being developed in…

Asharq Al Awsat (Cairo)
Business Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)

Türkiye Denounces Opposition Calls for a Day of No Shopping 

Türkiye’s government denounced opposition calls for a mass commercial boycott following the arrest of Istanbul Mayor Ekrem Imamoglu that sparked nationwide…

Business Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (Photo by Ed JONES / AFP)

Turkish Manufacturing Sector Contracts Further in March, PMI Shows

Türkiye's manufacturing sector contracted further in March, with output and new orders continuing to ease amid difficult market conditions both domestically…

Asharq Al Awsat
Business Replicas of the Statue of Liberty are displayed for sale in a tourist shop in lower Manhattan on March 28, 2025, in New York City. (AFP)

Anger Against Trump Is Forecast to Cost the US International Visitors 

Anger over the Trump administration’s tariffs and rhetoric will likely cause international travel to the US to fall even further than expected this year, an…

Business S&P reaffirmed the Sultanate of Oman’s long-term sovereign credit rating at ‘BBB-’ Asharq Al-Awsat

S&P Reaffirms Sultanate of Oman’s Sovereign Credit Rating at ‘BBB-’

Standard & Poor’s Global Ratings (S&P) has reaffirmed the Sultanate of Oman’s long-term sovereign credit rating at ‘BBB-’ with a Stable Outlook, citing the…

Asharq Al Awsat (Muscat)
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Extends Climb on Supply Fears, Trade War Concerns Cap Gains

Oil prices inched higher on Tuesday after threats by US President Donald Trump to impose secondary tariffs on Russian crude and attack Iran, though worries…

Asharq Al Awsat
Business A teller sorts US dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya February 16, 2024. REUTERS/Thomas Mukoya/File photo

Dollar Drifts as World Braces for Trump's Reciprocal Tariffs

The dollar wobbled on Tuesday after a bruising quarter as weary investors braced for reciprocal tariffs from US President Donald Trump this week, a move that…

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 (INDIA - Tags: BUSINESS COMMODITIES)/File Photo

Stocks Stabilize, Gold Hits Record before Trump Tariff Reveal

Asian equities rose on Tuesday following Wall Street's overnight gains, while gold hit an all-time peak and Treasury yields fell as markets awaited details of…

Asharq Al Awsat
Business  A woman prepares traditional Egyptian butter cookies known as "Kahk", to celebrate Eid al-Fitr, which marks the end of the holy month of Ramadan in Cairo, Egypt, March 23, 2025. (Reuters)

Egypt Govt Pledges Wage Hikes, Relief for Citizens

The Egyptian government has pledged to improve wages and ease the financial burden on citizens by raising the minimum wage to 7,000 Egyptian pounds (1 USD = 50…

Asharq Al Awsat (Cairo)
Business Riyadh (SPA)

Despite Global Challenges, Saudi Arabia Continues Economic Diversification Efforts

As global economic challenges intensify—driven by fluctuations in interest rates, trade policies, and geopolitical tensions—Saudi Arabia continues to advance…

Asharq Al Awsat (Cairo)
Business The Saudi capital, Riyadh (SPA)

Saudi Arabia Implements Real Estate Regulations to Stabilize Riyadh’s Market

Amid rapid growth in Saudi Arabia’s real estate sector, fueled by the country’s economic diversification strategy, Crown Prince Mohammed bin Salman has…

Asharq Al Awsat (Riyadh)
Business European Central Bank (ECB) President Christine Lagarde arrives to address a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on January 30, 2025. (AFP)

Trump’s Tariffs Mean Europe Must Take Control of Its Future, Says ECB's Lagarde

The likely implementation of tariffs imposed by the United States on April 2 means Europe will have to take better control of its future, European Central Bank…