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 Carton of eggs are seen in a box during a free eggs give away in New York City, on March 21, 2025. (Getty Images/AFP)

United States Imports Eggs from Korea, Türkiye to Help Ease Prices

The United States is importing Turkish and South Korean eggs to ease an avian flu-fueled supply crunch that has pushed up prices across the country, Donald…

Business A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. Reuters

China Slams US Sanctions on Oil Refinery in Shandong

Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh US sanctions on Iran and the latest output plan from the OPEC+…

Asharq Al Awsat
Business Police officers intervene as flames rise from a fire in a dustbin during a protest by students against the detention of Istanbul Mayor Ekrem Imamoglu, in Istanbul, Türkiye, March 21, 2025. (Reuters)

Türkiye's Stock Market Hit Hard after Arrest of Istanbul Mayor

The Istanbul stock exchange's main index was hit hard on Friday, closing 7.8 percent down on the third day of protests over the arrest of Istanbul mayor Ekrem…

Business An Oil refinery is seen from Maracaibo, Zulia State, Venezuela on March 19, 2025. (AFP)

Oil Heads Towards Second Consecutive Weekly Gain on Supply Concerns 

Oil prices rose on Friday and were heading for a second consecutive weekly gain as fresh US sanctions on Iran and the latest output plan from the OPEC+…

Business Visitors walk along Nakamise-dori street in the Asakusa district in Tokyo, Japan March 10, 2025. (Reuters)

Japan’s Core Inflation Hits 3% in February, Keeps Alive BOJ Rate-Hike Bets 

Japan's core inflation hit 3.0% in February and an index stripping away the effect of fuel rose at the fastest pace in nearly a year, a sign of broadening…

Business Shibara Island, one of the Red Sea projects in Saudi Arabia (Asharq Al-Awsat)

UN Report Urges Entrepreneurs to Leverage AI in Tourism

Saudi Arabia is accelerating its efforts to integrate artificial intelligence (AI) into its tourism sector, aiming to enhance its global leadership in…

Bandar al-Mosalam (Riyadh)
Business Representation photo: The sun sets behind burning gas flares at the Dora (Daura) Oil Refinery Complex in Baghdad on December 22, 2024. (Photo by AHMAD AL-RUBAYE / AFP)

Türkiye and Slovakia Get US Waiver Extension for Gas Payments to Russia

Türkiye and Slovakia have received extensions from the United States to waivers for gas payments to Russia, sources told Reuters on Thursday, adding that the…

Asharq Al Awsat
Business The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

Saudi Aramco Launches First Direct Air Capture Test Unit

Saudi oil giant Aramco has launched a pilot direct air capture unit able to remove 12 tons of carbon dioxide per year from the atmosphere, it said on Thursday…

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 Inches Higher as Fed's Signals No Rush to Cut Rates

The dollar inched up on Thursday after the Federal Reserve indicated it was in no rush to cut rates further this year due to uncertainties around US tariffs,…

Asharq Al Awsat
Business FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium August 21, 2020. REUTERS/Yves Herman/File Photo

EU May Delay First Counter-tariffs against US to Mid-April

The European Union could delay imposition of a first set of counter-measures against the United States over President Donald Trump's steel and aluminium…

Asharq Al Awsat
Business A glimpse of the Future Investment Initiative events in Riyadh (Asharq Al-Awsat)

Saudi Arabia Mandates Event Organizers to Implement Governance Rules

Saudi Arabia has mandated event organizers to implement governance rules for hosting events and submit a report to the Events Committee under the Council of…

Bandar al-Mosalam (Riyadh)
Business An Oil refinery is seen from Maracaibo, Zulia State, Venezuela on March 19, 2025. (Photo by Pedro MATTEY / AFP)

Oil Prices Rise on Strong Demand Outlook, Weaker US Dollar

Oil prices rose on Thursday, boosted by a strong outlook for demand in the United States after fuel inventories fell more than expected, and a weaker US dollar…

Asharq Al Awsat
Business Gold necklaces sit in a display case at a Laopu Gold jewelry store in Beijing, China March 12, 2025. REUTERS/Florence Lo

Gold Scales Record Peak as Fed Signals Two Rate Cuts in 2025

Gold touched an all-time high on Thursday as the US Federal Reserve signaled two possible interest rate cuts this year, adding to the bullion's appeal amid…

Asharq Al Awsat
Business US Federal Reserve Chair Jerome Powell speaks at a press conference, following a two-day meeting of the Federal Open Market Committee on interest rate policy, in Washington, D.C., US, March 19, 2025. REUTERS/Nathan Howard

US Central Bank Holds Interest Rates Steady, Projects Growth Slowdown

As widely expected, the Federal Reserve’s interest rate policy meeting ending Wednesday afternoon did not bring the immediate rate cuts President Donald Trump…

Asharq Al Awsat (Washington)
Business Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. REUTERS/Florence Lo/Illustration/File Photo

Dollar Rises ahead of Fed; Turkish Lira Drop Reins in G10 Currencies

The dollar rallied on Wednesday ahead of the Federal Reserve's decision on interest rates, but retreated from the day's highs after markets stabilized from an…

Asharq Al Awsat
Business A view of an oil pump jack on the prairies near Claresholm, Alberta, Canada January 18, 2025. REUTERS/Todd Korol/File Photo

Oil Slips as Putin Agrees 30-day Halt on Energy Facility Strikes

Oil prices edged lower on Wednesday after Russia agreed to US President Donald Trump's proposal that Moscow and Kyiv temporarily stop attacking each other's…

Asharq Al Awsat
Business 24 May 2018, Türkiye, Istanbul: Turkish lira bills are seen fanned out. (dpa)

Turkish Lira Touches Record Low, Stocks and Bonds Slide After Istanbul Mayor Detained 

Türkiye's lira fell as much as 12.7% and touched a new all-time low of 42 to the dollar on Wednesday, with bonds and stocks also tumbling sharply, after…

Business Pedestrians walk along a sidewalk past the Bank of Japan (BoJ) headquarters complex in central Tokyo on March 19, 2025. (AFP)

Japan Says Economy Recovering, but Flags Risks from Trump Trade Policies 

Japan's government stuck with its cautiously optimistic outlook for the economy US President Donald Trump's trade policies could dampen global growth and…

Business Telecom towers (AFP)

Rising Revenues, Operational Efficiency Boost Profits of Saudi Telecom Companies

Saudi Arabia’s listed telecom companies saw a 69% surge in net profits by the end of 2024, reaching SAR 28.39 billion ($7.57 billion), compared to SAR 16.79…

Mohammed al-Mutairi (Riyadh)
Business A woman walks outside the Kremlin on a sunny day in Moscow, Russia, 18 March 2025. (EPA)

Russian Rouble Weakens After Trump-Putin Call 

The Russian rouble interrupted its rally and weakened against both the US dollar and China's yuan on Wednesday following a conversation between US President…

Business Gold necklaces on display at a jewelry store in Beijing, China, 19 March 2025. EPA/JESSICA LEE

Gold Climbs to Record High on Safe-haven Demand; Fed Decision in Focus

Gold rose to a record high on Wednesday as tensions in the Middle East and US tariff uncertainties lifted the bullion's safe-haven appeal, while traders…

Asharq Al Awsat
Business AlBalad AlAmeen for Development and Urban Regeneration Co. signed an MoU with Sumou Holding Co. SPA

Investment Fund Launched to Develop Sumou Suburb Project in Makkah

AlBalad AlAmeen for Development and Urban Regeneration Co., the investment arm of the Municipality of Makkah, has signed a memorandum of understanding (MoU)…

Asharq Al Awsat (Riyadh)
Business The signing ceremony was attended by Minister of Investment Khalid Al-Falih, Minister of Transport and Logistic Services Saleh Al-Jasser, General Authority of Civil Aviation President Abdulaziz Al-Duailej, Saudi Falcons Club CEO Talal bin Abdulaziz Al-Shamaisi, and several officials, investors, and business leaders. (SPA)

SAL, Sela Sign SAR4 Billion Agreement to Establish Logistics Zone North of Riyadh

The SAL Saudi Logistics Services Company and Sela Company signed an agreement in Riyadh to launch the SAR4-billion SAL Logistics Zone, covering more than 1.5…

Business New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo

Israel's Shekel and Bonds Slide as Gaza Ceasefire Buckles

Israel's currency fell alongside its bonds and stock market on Tuesday as a wave of deadly airstrikes by its military in Gaza threatened the complete collapse…

Asharq Al Awsat