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 A pedestrian walks past a puddle near buildings of the Moscow City international business center during sunset in Moscow, Russia, February 23, 2025. (Reuters)

After Three Years of War, Trump Hands Russian Economy a Lifeline 

Russia's overheating economy is on the cusp of serious cooling, as huge fiscal stimulus, soaring interest rates, stubbornly high inflation and Western…

Business An offshore gas platform (Reuters)

Egypt Kuwait Holding Achieves $185 Million Net Profit in 2024

Egypt Kuwait Holding Company (EKH) on Sunday said it recorded a net profit of $185 million for the full fiscal year of 2024. EKH posted revenues of $642…

Asharq Al Awsat (Cairo)
Business A view of the Saudi capital, Riyadh. (SPA)

PwC: Saudi Arabia Balances Fiscal Discipline with Ambitious Investment Goals

A recent report by global consulting firm PwC on the 2025 Middle East economic outlook highlighted the region’s sustained growth, primarily driven by a strong…

Asharq Al Awsat (Riyadh)
Business Ukrainian President Volodymyr Zelensky holds a press conference at the end of the forum 'Ukraine. Year 2025', in Kyiv, Ukraine, 23 February 2025, amid the Russian invasion. EPA/SERGEY DOLZHENKO

Zelenskiy Says he May be Forced to Sign Mineral Agreement with US

Ukrainian President Volodymyr Zelenskiy on Sunday said he may be forced to sign an economic agreement with the United States that would ensure continued aid…

Asharq Al Awsat
Business FILED - 17 November 2019, Egypt, Ismailia: A container ship sails through the Suez Canal. Photo: Gehad Hamdy/dpa

47 Ships Rerouted to Egypt's Suez Canal this Month, Chairman Says

Egypt's Suez Canal Authority chairman Osama Rabei said on Sunday that 47 ships have been rerouted from Cape of Good Hope to Suez Canal since the start of…

Asharq Al Awsat
Business FILED - 12 July 2020, Lower Saxony, Salzgitter: An employee walks along coiled steel at Salzgitter AG. Photo: Julian Stratenschulte/dpa

EU Sees €28 Billion Hit from Trump’s Steel, Aluminum Tariffs

The European Union estimates that the first wave of Donald Trump’s steel and aluminum tariffs will hit as much as €28 billion ($29.3 billion) of the bloc’s…

Asharq Al Awsat (London)
Business The project, with an estimated investment of $7 billion, is set to create 20,000 jobs during the construction phase and 3,000 permanent positions upon operation. Photo: Egypt’s Ministry of Petroleum

UK-Saudi-UAE Alliance to Develop Ground-breaking Petrochemical Complex in Egypt

The UK’s Shard Capital Partners LLP, in collaboration with UAE-based Royal Strategic Partners and Saudi Arabia’s Al-Qahtani Group, has announced the signing of…

Asharq Al Awsat (Cairo)
Business President Donald Trump speaks to reporters before departing the White House in Washington, Saturday, Feb. 22, 2025. (AP Photo/Manuel Balce Ceneta)

Trump Says US 'Pretty Close' to Minerals Deal with Ukraine

President Donald Trump said on Saturday the United States is close to an agreement with Ukraine on sharing revenue from Ukrainian minerals as part of efforts…

Asharq Al Awsat
Business The Iraqi oil minister's announcement comes after the Iraqi parliament approved on February 2 a budget amendment that set a rate of $16 per barrel for oil transport and production costs in Kurdistan. (AFP)

Iraq’s Oil Ministry Says Procedures for Oil Exports through Turkish Pipeline Complete

Iraq's oil ministry said in a statement on Saturday that all procedures had been completed to allow the resumption of exports through the Iraq-Türkiye pipeline…

Business The listing marks a pivotal step in strengthening the Kingdom's mortgage finance market by enhancing liquidity, attracting foreign investments, and supporting the objectives of Saudi Vision 2030. (SPA)

Saudi Housing Minister Attends Listing of SRC's First Int’l Sukuk Program on London Stock Exchange

In a strategic move that reinforces Saudi Arabia's position in global financial markets, Minister of Municipalities and Housing and Chairman of the Saudi Real…

Business A 3D-printed miniature model of US President-elect Donald Trump and the Chinese flag are seen in this illustration taken January 15, 2025. (Reuters)

Trump Orders Tighter Restrictions on Chinese Investments in Key Sectors

US President Donald Trump signed a memo Friday calling for curbs on Chinese investments in strategic sectors like tech and critical infrastructure -- including…

Business People with a baby stroller walk past the window of a Stars Coffee, a chain that opened in former Starbucks coffee shops, in Moscow, Russia, 20 February 2025. (EPA)

Will Western Companies Return to Russia?

One of the many questions raised by discussions between Moscow and Washington on ending the war in Ukraine is whether the corporate exodus from Russia in…

Asharq Al Awsat (Moscow)
Business A 3D-printed oil pump jack is placed on dollar banknotes in this illustration picture, April 14, 2020. (Reuters)

US Refiners Mull Switch to Alternative Lighter Crudes Amid Trump Tariff Fears

Top US refiners are poised to seek alternative sources for heavy, sour crudes, including running more domestic grades, as they await clarity around US…

Asharq Al Awsat (New York)
Business A handout photo made available by Press Office of the Lebanese Presidency shows Lebanese President Joseph Aoun (R) during a meeting with European Commissioner for the Mediterranean Dubravka Suica (L) at the presidential palace in Baabda, east of Beirut, Lebanon, 21 February 2025. (EPA/ Lebanese Presidency Press Office)

500 Billion Euros in Funding to Lebanon Depends on Banking Restructure

A visiting EU official said Friday that disbursing half a billion euros in funding to Lebanon was conditional on a banking sector restructure and reaching an…

Asharq Al Awsat (Beirut)
Business FILE - Chinese men hand out national flags during national day holidays near a Huawei pop up store in Beijing, Oct. 2, 2024. (AP Photo/Ng Han Guan, File)

China's SAIC, Huawei to Partner in Developing New Smart EVs

Chinese automaker SAIC Motor said on Friday it would partner with tech company Huawei to develop new "globally competitive" smart electric vehicles. The tie-up…

Asharq Al Awsat
Business Deemah Al-Yahya, Secretary-General of the Digital Cooperation Organization (DCO) (Asharq Al-Awsat)

Digital Cooperation Organization Calls for International Partnerships

While individuals in some high-income countries rely on artificial intelligence for even the smallest aspects of daily life—such as scheduling appointments,…

Asharq Al Awsat (Amman)
Business (FILES) This file photo taken on February 10, 2025 shows a man walking past the Nissan logo in the showroom at Nissan's global headquarters in Yokohama, Kanagawa prefecture. (Photo by Philip FONG / AFP)

Nissan Shares Jump 11% on Reported Plan to Seek Tesla Investment

Nissan shares surged 11 percent Friday after a report said a Japanese group including a former prime minister plans to ask US electric vehicle giant Tesla to…

Asharq Al Awsat
Business An oil pump of IPC Petroleum France is seen during sunset outside Soudron, near Reims, France, February 6, 2023. REUTERS/Pascal Rossignol/File Photo

Oil Little Changed after US Crude Inventory Build

Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in US crude…

Asharq Al Awsat
Business FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold Prices Catapult to Record High on Safe-haven Demand

Gold prices surged to a record high on Thursday, as fears of a global trade war sparked by US President Donald Trump's tariff threats fueled safe-haven demand…

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 Subdued as Traders Weigh Tariffs; Yen Surges on BOJ Bets

The dollar eased against a range of currencies on Thursday, as investors digested US President Donald Trump's latest tariff plans, while the yen rose to multi…

Asharq Al Awsat
Business Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud approved on Thursday the Saudi riyal symbol in a historic move that will reinforce the…

Asharq Al Awsat (Riyadh)
Business The deal follows Aramco's previous retail acquisitions in Chile and Pakistan. Photo: Aramco website

Saudi Aramco to Acquire 25% Stake in Unioil Petroleum Philippines

Saudi Arabia's Aramco has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday…

Asharq Al Awsat
Business Honoring the strategic partners (Aramco)

Saudi Aramco CEO: Jafurah Gas Project to Contribute $23 Billion Annually to GDP

Saudi Aramco CEO Amin Nasser said he expects the Jafurah unconventional gas project in eastern Saudi Arabia to contribute approximately $23 billion annually to…

Asharq Al Awsat (Al-Ahsa)
Business The headquarters of the Saudi Electricity Company (SEC). Photo: SEC website

Saudi Electricity Company, ACWA Power Sign Power Purchase Agreement for Qurayyah IPP Expansion Project

The Saudi Electricity Company (SEC) and ACWA Power have announced the signing of a Power Purchase Agreement (PPA) for the Qurayyah Independent Power Plant (IPP…

Asharq Al Awsat (Riyadh)