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 The Saudi flag. Asharq Al-Awsat

S&P Global Upgrades Credit Rating of Saudi Arabia to A+ with Stable Outlook

Credit rating agency S&P Global upgraded Saudi Arabia’s local and foreign currency credit rating to A+ with a stable outlook. In its report, the agency…

Asharq Al Awsat (Riyadh)
Business A trader monitors the screen at the Saudi Exchange in Riyadh. (AFP)

Positive Outlook for Saudi Stock Market Next Week

Saudi Arabia’s Tadawul All Share Index (TASI) ended the second week of March with a slight decline for the third consecutive week, closing down 0.73% at 11,725…

Mohammed al-Mutairi (Riyadh)
Business A Saudi student is seen at the Analytical Chemistry Lab at King Abdullah University of Science and Technology. (KAUST)

Saudi Arabia Establishes Research Centers to Advance Biotech Strategy

Saudi Arabia has made significant strides in the biotechnology sector following the launch of its national strategy in early 2024, aiming to position itself as…

Ayat Nour (Riyadh)
Business European Central Bank (ECB) President Christine Lagarde looks on as she speaks to the media following the Governing Council's monthly monetary policy meeting in Frankfurt, Germany, March 6, 2025. (Reuters)

Trump’s Trade War Is ‘Wake-up Call’ for Europe, Lagarde Says 

A full-scale global trade war would hurt the United States in particular and could re-energize Europe's push towards unity, European Central Bank President…

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 Climbs to Record High, $3,000/oz Milestone in View

Gold reached an all-time high on Friday, driven by uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the…

Asharq Al Awsat
Business An oil tank and an oil pumpjack are pictured in the Permian basin, Loco Hills regions, New Mexico, US, April 6, 2023. (Reuters)

Oil Bounces as Ukraine Ceasefire Deal Remains Elusive 

Oil prices rebounded on Friday to recover some of their more than 1% losses in the previous session, partly due to diminishing prospects of a quick end to the…

Business A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil Dips as Economic Concerns, Supply and Demand Expectations Weigh

Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in US gasoline stocks, as markets weighed macroeconomic…

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 General Forecasts Tepid 2025 due to Strained Consumer Spending

Dollar General on Thursday forecast annual sales and profit targets below estimates, joining a growing list of retailers that have signalled a grim year as…

Asharq Al Awsat
Business Continental Farms Ukraine, owned by Saudi firm SALIC (Asharq Al-Awsat)

Saudi-Ukraine Joint Business Council Poised for Major Trade Opportunities

Saudi Arabia and Ukraine are looking to their revived Joint Business Council, set to be reestablished this year, to unlock economic, investment, and trade…

Bandar al-Mosalam (Riyadh)
Business An employee takes granules of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo

Gold Firms as US Tariff Uncertainty, Cooler Inflation Data Lend Support

Gold prices edged up on Thursday as persisting uncertainty over tariffs drove safe-haven demand, while a cooler-than-expected US inflation print supported the…

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

OPEC Sticks to Global Oil Demand Forecasts, Reports Output Jump

OPEC on Wednesday kept its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption, and…

Asharq Al Awsat (Vienna)
Business Officials from Siemens Energy and Harbin Electric International during the signing of the agreements to provide technology for the two gas-fired power plants in Saudi Arabia. Photo: Siemens Energy

Siemens Energy Secures Power Plant Project in Saudi Arabia

Siemens Energy has been awarded a $1.6-billion project to provide technology for two gas-fired power plants in Saudi Arabia, the German company said on…

Asharq Al Awsat (Riyadh)
Business A technician installs solar panels atop 15 prefabricated cabins offered by an NGO to residents whose homes were destroyed in Israeli strikes during the latest war in the southern Lebanese village of Ramia near the southern border on March 5, 2025. (Photo by Mahmoud ZAYYAT / AFP)

Lebanon's Finance Minister: There Will be a New Deal with IMF

Lebanese Finance Minister Yassine Jaber said on Wednesday there would be a new deal between his country and the International Monetary Fund, according to a…

Asharq Al Awsat (Beirut)
Business Workers are seen at a Saudi Aramco facility. (SPA)

Oil Up on Weak Dollar, Tariff Concerns Cap Gains

Oil prices edged up on Wednesday, supported by a weaker dollar, but gains were capped by mounting fears of a US economic slowdown and the impact of tariffs on…

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 Production Resumes at Libya's Mabruk Field after a Decade

Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU)…

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 Holds Ground after Cooler US Inflation Data

Safe-haven gold held its ground on Wednesday, aided by tariff uncertainty and a cooler inflation report that keep bets for a US rate cut intact. Spot gold was…

Asharq Al Awsat
Business The ministry revealed an impressive 87% self-sufficiency rate for potatoes - SPA

Saudi Arabia Achieves 87% Potato Self-Sufficiency

The Ministry of Environment, Water, and Agriculture has announced that potato production in Saudi Arabia continues to thrive, solidifying its status as a key…

Asharq Al Awsat
Business The Egyptian Prime Minister met with the Saudi private sector (Saudi Chambers Federation)

Egyptian Parliament Approves Investment Protection Agreement with Saudi Arabia

The Egyptian Parliament has approved a bilateral agreement with Saudi Arabia aimed at promoting and protecting mutual investments between the two countries, as…

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

Saudi Residential Real Estate Market Expected to Attract $1.22 Billion in 2025

Saudi Arabia’s private sector buyers are expected to spend $1.22 billion on residential real estate in 2025, with the NEOM megaproject emerging as the most…

Asharq Al Awsat (Riyadh)
Business Riyadh, Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia Partners with Local, Global Firms to Market Investments

The Saudi government has granted the new Investment Marketing Authority the authorization to enlist experts and specialists from both local and global…

Bandar al-Mosalam (Riyadh)
Business US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

Dollar on Defensive as Trump Tariffs Fuel Economic Worries

The dollar struggled on Wednesday to lift off a five-month low against major peers, as worries about the US economy simmered, in view of President Donald Trump…

Asharq Al Awsat
Business 11 March 2025, France, Strasbourg: Ursula von der Leyen, President of the European Commission, speaks at the European Parliament. Photo: Philipp von Ditfurth/dpa

EU to Impose Counter Tariffs on Over $28 Billion of US Goods

The European Union will impose counter tariffs on 26 billion euros ($28.33 billion) worth of U.S. goods from next month in response to US tariffs on steel and…

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 Prices Climb, but Recession Fears and Tariffs Limit Gains

Oil prices rose 1% on Tuesday, helped by weakness in the US dollar, although gains were capped as concerns mounted over a US slowdown and the impact of trade…

Asharq Al Awsat
Business An employee takes granules of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo

Gold Drifts Higher ahead of US Inflation Data

Gold prices rose on Tuesday, supported by safe-haven flows as trade war concerns sapped risk sentiment across wider markets, while attention was on US…

Asharq Al Awsat