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 US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

Dollar Dithers as Safety Bid Flows to the Yen

The yen was investors' safe harbour of choice on Tuesday and it touched a five-month high as fears about a tariff-driven slowdown in US economic growth have…

Asharq Al Awsat
Business FILE PHOTO: Makoto Uchida, CEO of Nissan holds press conference on merger talks with Honda, in Tokyo, Japan, December 23, 2024. REUTERS/Kim Kyung-Hoon/File Photo

Struggling Japanese Automaker Nissan Replaces CEO

Struggling Japanese automaker Nissan announced on Tuesday that chief executive Makoto Uchida would step down, a move that follows the failure of merger talks…

Asharq Al Awsat
Business Amin Nasser, CEO of Saudi Aramco. AFP file photo

Aramco CEO Calls for Rethinking Energy Transition Plans

CEO of Saudi Aramco Amin Nasser has urged policymakers and energy executives to reassess energy transition strategies, emphasizing the need to shift focus away…

Asharq Al Awsat (Houston)
Business Birds fly at sunset in Cairo, Egypt, 09 March 2025.  EPA/MOHAMED HOSSAM

Egypt's Headline Inflation Almost Halves in February

Egypt's annual urban consumer price inflation plunged to 12.8% in February from 24.0% in January, decelerating even faster than analysts had expected, official…

Asharq Al Awsat (Cairo)
Business PIF Launches Al Waha, First Saudi-Owned Duty-Free Retailer

PIF Launches Al Waha, First Saudi-Owned Duty-Free Retailer

The Public Investment Fund (PIF) announced on Monday the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty…

Business FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold Steady as Firm Dollar Offsets Safe-haven Demand

Gold steadied on Monday as a stronger US dollar countered safe-haven demand amid trade war concerns, while investors looked to inflation data this week for…

Asharq Al Awsat
Business South Korea's acting President and Deputy Prime Minister Choi Sang-mok speaks during the 106th Independence Movement Day ceremony at Soongeui Women's University in Seoul on March 1, 2025. (AFP)

South Korea Seeks to Resolve Any ‘Misunderstanding’ with US about Tariff Rates 

South Korea's acting president on Monday ordered authorities to actively communicate with the US administration to resolve any misunderstanding over tariffs,…

Business A general view of the Saudi capital, Riyadh. (SPA)

Saudi Bank Loans to the Private Sector Reach Record Highs

Saudi banks’ lending to the private sector reached an all-time high in January 2025, reflecting ongoing efforts to strengthen the Kingdom’s non-oil economy in…

Asharq Al Awsat (Riyadh)
Business  A project of the Saudi Ministry of Municipalities and Housing (Asharq Al-Awsat)

Saudi Homeownership Rate Approaches 2030 Target

Saudi Arabia is steadily progressing toward achieving its housing program targets under Vision 2030, with homeownership rates among Saudi families reaching 63…

Bandar al-Mosalam (Riyadh)
Business The Saudi capital Riyadh. SPA

GASTAT: Saudi Economy Experienced Highest Quarterly Growth in 2 Years

The General Authority for Statistics (GASTAT) released on Sunday the GDP report and national accounts indicators for 2024 and the fourth quarter of 2024,…

Asharq Al Awsat (Riyadh)
Business An area in front of the security checkpoints is empty at Hamburg Airport, Germany Sunday, March 9, 2025. (Georg Wendt/dpa via AP)

Flight Cancellations at Germany's Hamburg Airport Affect More than 40,000 Passengers after Strike

Flight cancellations at Hamburg Airport after a surprise strike by workers affected more than 40,000 passengers on Sunday, a day before a planned wider protest…

Asharq Al Awsat
Business Oman has developed an integrated economic zone in Dhahirah. (Asharq Al-Awsat)

Oman’s Dhahirah: A Strategic Gateway Strengthening Trade with Saudi Arabia

In the heart of Dhahirah Governorate in northwestern Oman, a key economic zone is emerging—not just as a border crossing but as a vital trade and logistics hub…

Asharq Al Awsat (Dhahirah)
Business FILE PHOTO: Passengers wait at the Eurostar terminal in St. Pancras International Station, in London, Britain, July 26, 2024. REUTERS/Leila Dougan/File Photo

Virgin Group Says Aims to Raise $900 Million for Rail Service Bid

British billionaire Richard Branson's Virgin Group aims to raise 700 million pounds ($900 million) to fund its plan to launch cross-channel rail services as it…

Asharq Al Awsat
Business United States President Donald J Trump (L) stands with FIFA President Gianni Infantino and the Club World Cup trophy after signing an Executive Order setting up a task force on the Club World Cup in the Oval Office of the White House in Washington, DC, USA, 07 March 2025. EPA/CHRIS KLEPONIS / POOL

Trump Says US Trade Tensions Will Make World Cup More Exciting

Political and economic tensions between the United States and its 2026 World Cup co-hosts Canada and Mexico will make the tournament more exciting, US…

Asharq Al Awsat (Washington)
Business Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights

Dell Drives Digital Transformation in Saudi Arabia Through 3 Decades of Innovation

Saudi Arabia is leading the charge in digital transformation, with Dell playing a key role in the Kingdom’s technological growth over the past three decades. …

Nassim Ramadan (Riyadh)
Business Iraqi Ambassador to Riyadh Safia Al Souhail. (Turky al-Agili)

Iraq Parliament Nears Approval of Saudi Investment Protection Law

Iraq's Ambassador to Riyadh Safia Al Souhail confirmed that Iraqi-Saudi relations are undergoing a strategic transformation, reflecting the leaderships' vision…

Abdulhadi Habtor (Riyadh)
Business A worker transfers steel cables at a steel factory in Qingdao in east China's Shandong province, on June 8, 2018. (AP)

China Hits Back at Canada with Fresh Agriculture Tariffs

China announced tariffs on over $2.6 billion worth of Canadian agricultural and food products on Saturday, retaliating against levies Ottawa introduced in…

Business US Secretary of the Treasury Scott Bessent makes remarks at The White House Digital Assets (Crypto) Summit in the State Dining Room of the White House in Washington, DC, USA, 07 March 2025. (EPA)

US Treasury Secretary: Economy May Slow as We Move Away from Public to Private Spending

Treasury Secretary Scott Bessent on Friday acknowledged some signs of weakness in the US economy. “Could we be seeing that this economy that we inherited…

Asharq Al Awsat (Washington)
Business World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala speaks during the IC Forum at ETH Zurich, Switzerland, 27 February 2025. EPA/TIL BUERGY

WTO Chief Calls for Calm amid Mounting Trade War

The WTO chief called for calm Friday in the face of a swelling global trade war as US President Donald Trump slaps steep tariffs against friends and foes alike…

Asharq Al Awsat
Business A vehicle drives past buildings destroyed in Israeli strikes during the latest war, near the border wall in the southern Lebanese village of Ramia on March 5, 2025. (Photo by Mahmoud ZAYYAT / AFP)

World Bank Estimates $11 Billion Needed for Reconstruction in Lebanon

The cost of reconstruction and recovery for Lebanon following the 14-month Israel-Hezbollah war is estimated at $11 billion, the World Bank said in a new…

Asharq Al Awsat
Business FILE PHOTO: The empty Lufthansa check-in counters at Munich’s Franz-Josef-Strauss airport are seen as public sector workers and ground staff started a two-day strike after wage negotiations ended without result in Munich, Germany, February 27, 2025. REUTERS/Ayhan Uyanik/File Photo

Germany's Airports to be Hit by 24-hour Strike on Monday

Nearly all of Germany's airports will be hit by a 24-hour strike on Monday after trade union Verdi called for employees in the public sector and ground…

Asharq Al Awsat
Business Saudi Arabian Mining Co. (Ma’aden) (Asharq Al-Awsat)

Saudi Miner Ma’aden’s Profit Jumps 82% to $765 Mln in 2024

Saudi Arabian Mining Co. (Ma’aden), the Middle East’s largest multi-commodity mining company, reported a net profit of SAR2.87 billion ($765 million) for the…

Asharq Al Awsat (Riyadh)
Business FILED - 21 November 2024, Berlin: A Bitcoin coin lies on a screen showing the Bitcoin - US dollar exchange rate. Photo: Fernando Gutierrez-Juarez/dpa

Asian Stocks, Bitcoin Down as Trade Uncertainty Roils Markets

Asian stocks tumbled at the open Friday following a tough day on Wall Street as uncertainty over US President Donald Trump's trade policies roiled markets and…

Asharq Al Awsat
Business Construction workers are seen on the site of a new development in Long Beach, California, March 5, 2025. (AFP)

Trump Exempts Mexico Goods from Tariffs for a Month, but Doesn’t Mention Canada

US President Donald Trump on Thursday said Mexico won't be required to pay tariffs on any goods that fall under the United States-Mexico-Canada Agreement on…