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 Jewellery is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold Hits Another Record as Tensions Flare over Gaza, Trump Tariffs

Gold hit another record high above $3,000 on Tuesday, with investors seeking the metal as a haven from risk as conflict flared in the Middle East and US…

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

Oil up 1% on Mideast Risks, China Stimulus

Oil prices rose more than 1% on Tuesday to their highest levels since the beginning of the month, supported by instability in the Middle East and China's plans…

Asharq Al Awsat
Business Representation photo: Smoke is released from one of the chimneys of the Dora (Daura) Thermal Power Station in the Dora district in southern Baghdad on January 9, 2025. (Photo by AHMAD AL-RUBAYE / AFP)

Europe Gas: Prices ease ahead of Trump-Putin phone call

Dutch and British wholesale gas prices eased on Tuesday morning as the market awaited any news on a potential peace deal between Russia and Ukraine but low…

Asharq Al Awsat
Business Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)

‘Saudi Architecture Characters Map’ Boosts City Appeal for Investment

Economic and architectural experts have described Crown Prince Mohammed bin Salman’s launch of the “Saudi Architecture Characters Map” as a strategic shift,…

Mohammed al-Mutairi (Riyadh)
Business The signing ceremony was held at the headquarters of the National Energy Administration (KUNA) 

China Tightens Ties to Kuwait with Deal to Expand Solar Power

China will help increase capacity at two solar projects in Kuwait, further boosting ties after the two countries agreed to develop a long-delayed strategic…

Asharq Al Awsat (Kuwait)
Business Vehicles drive past a BP petrol station in Liverpool, Britain, February 7, 2023. (Reuters)

Israel Awards Natural Gas Exploration Licenses to BP, Socar and NewMed

Israel awarded licenses to BP, Azeri national oil firm Socar and local company NewMed Energy on Monday to explore natural gas in Israeli waters as the country…

Asharq Al Awsat (London)
Business FILE - A cargo ship sails next to the Panama Canal's Balboa port in Panama City, Feb. 1, 2025. (AP Photo/Matias Delacroix, File)

Hong Kong Leader Says Concerns over Panama Ports Deal Warrant 'Attention'

Hong Kong leader John Lee on Tuesday said criticism of city conglomerate CK Hutchison's sale of its Panama Canal ports deserved "serious attention", after…

Asharq Al Awsat
Business US dollar drifted within a tight range on Monday, pressured by lower Treasury yields - Reuters

Dollar Hobbled by Economic Worries; Euro Remains in Favor

The dollar hovered near a five-month low against major peers on Monday, bruised by President Donald Trump's erratic trade policies and soft economic data, at a…

Asharq Al Awsat
Business A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold Hovers Near Record Levels, Fed Meeting in Focus

Safe-haven gold firmed on Monday, trading near an all-time high scaled in the previous session, while the market's focus shifted to the US Federal Reserve's…

Asharq Al Awsat
Business FILE PHOTO: An oil pumpjack is pictured in the Permian basin, Loco Hills regions, New Mexico, US, April 6, 2023. REUTERS/Liz Hampton/File Photo

Oil Prices Rise on US Attack on Houthis and China Economic Hopes

Oil traded higher on Monday after the United States vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping while…

Asharq Al Awsat
Business Lumber is piled at a housing construction site, Thursday, June 24, 2021, in Middleton, Mass. (AP)

Trump Trade War to Sap Canadian, Mexican and US Growth, OECD Says 

President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday,…

Business The volume of workers' remittances from GCC countries is the highest globally. Asharq Al-Awsat

GCC Worker Remittances to Foreign Destinations Reach $131.5 Billion

The total remittances of workers in the Gulf Cooperation Council (GCC) countries to foreign destinations amounted to $131.5 billion by the end of 2023,…

Asharq Al Awsat (Muscat)
Business The Saudi capital Riyadh. AFP

Saudi Arabia’s Inflation Rate Holds Steady at 2% in February

The annual inflation rate in Saudi Arabia remained stable at 2% in February 2025, maintaining the same year-on-year rate as the previous year. This rate…

Asharq Al Awsat (Riyadh)
Business Local Chinese tourists walk along the the Turret of the Forbidden City of Beijing, China, Sunday, March 16, 2025. (AP Photo/Vincent Thian)

China Unveils ‘Special Action Plan’ to Boost Domestic Consumption

China's State Council unveiled on Sunday what it called a “special action plan” to boost domestic consumption, featuring measures including increasing…

Asharq Al Awsat (Beijing)
Business US Secretary of State Marco Rubio disembarks from his vehicle as he walks to board his airplane prior to departing Quebec City Jean Lesage International Airport in Quebec, Canada, Friday, March 14, 2025. (Saul Loeb, Pool Photo via AP)

Rubio Says US Could Engage in New Trade Deals after Tariffs Imposed

Once the United States has imposed tariffs on its major trading partners it could engage in bilateral talks with countries on new trade arrangements, Secretary…

Asharq Al Awsat (Washington)
Business Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024

The Saudi Ministry of Industry and Mineral Resources announced on Sunday that the number of valid mining licenses in the Kingdom has reached 2,401 by the end…

Business  France's Prime Minister Francois Bayrou visits the plant of French rolling stock manufacturer Alstom in Aytre near La Rochelle, western France, on March 14, 2025. (AFP)

French PM Opposes Calls to Go back to 62 as Retirement Age

Prime Minister Francois Bayrou on Sunday rejected the idea of reverting to 62 as the basic retirement age in France, appearing to narrow options for unions and…

Business  Treasury Secretary Scott Bessent walks out of the West Wing to do a television interview on the North Lawn of the White House on March 14, 2025 in Washington, DC. (AFP)

Bessent Says There Are ‘No Guarantees’ There Will Not Be a US Recession

There are "no guarantees" there will not be a recession in the United States, although there could be an adjustment, Treasury Secretary Scott Bessent said in…

Business A view of the port of the tiny Greek island of Kastellorizo, officially Megisti, the most southeastern inhabited Greek island in the Dodecanese. (AFP)

Greece's 2024 Central Government Surplus Exceeds Target

Greece's central government primary surplus reached 3.5% of its Gross Domestic Product (GDP) last year, well above the government's target, the outgoing…

Asharq Al Awsat
Business People buy dry fruits at a market in Karachi, Pakistan February 1, 2023. (Reuters)

IMF Makes Progress Toward Reaching Staff Agreement with Pakistan on First Review of $7 Bln Program

The International Monetary Fund (IMF) and Pakistani authorities made significant progress toward reaching a staff level agreement on the first review of an…

Business The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops. - SPA

Saudi Arabia Achieves 66% Grape Self-Sufficiency

The Saudi Ministry of Environment, Water, and Agriculture reported that Saudi Arabia's grape production surpassed 122,000 tons in 2023, reflecting the robust…

Asharq Al Awsat
Business A worker walks pasts the logo of the Central Reserve Bank of Peru (BCRP) inside its headquarters building in Lima, Peru June 16, 2017. REUTERS/Mariana Bazo/File Photo

Peru's Economy Grows 4.07% Year-on-year in January

Peru's economy grew 4.07% in the first month of 2025, data from the nation's INEI statistics agency showed on Saturday, in line with central bank and analysts'…

Asharq Al Awsat
Business Onshore wind turbines at Little Cheyne Court Wind Farm operate beside electricity pylons in Dungeness, Britain, July 10, 2024. REUTERS/Chris J. Ratcliffe/File photo

British Steel Industry Calls for Help with Electricity Prices

Britain's steel industry has called on the government to help with electricity prices that it says can be it 50% higher than those paid by European competitors…

Asharq Al Awsat
Business FILE - Greek Prime Minister Kyriakos Mitsotakis speaks in parliament ahead of the submission of a no-confidence motion by opposition parties over the government's handling of Greece's worst rail disaster two year ago, in Athens, Wednesday, March 5, 2025. (AP Photo/Thanassis Stavrakis, File)

Greek Government Debt Upgraded to Investment Grade, Closing Door on Painful Era

Greece’s center-right government on Saturday welcomed a credit rating upgrade by Moody’s, the last major ratings agency to lift junk status on government bonds…

Asharq Al Awsat