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 Britain's Chancellor of the Exchequer Rachel Reeves speaks about her plans for Britain's economy in Eynsham, England, Wednesday Jan. 29, 2025. (Peter Cziborra/Pool Photo via AP)

UK Economy Ekes Out Modest Growth in Final Quarter of 2024

The British economy managed to eke out a quarterly growth of 0.1% in the final quarter of 2024 following a stronger than anticipated performance in December…

Asharq Al Awsat (London)
Business PIF Governor Yasir Al-Rumayyan in the opening remarks of the PIF Private Sector Forum 2025 (Asharq Al-Awsat)

Investments in Saudi Arabia Double Since Launch of Vision 2030

Saudi Arabia has successfully doubled its investment volume since the launch of Vision 2030 in 2016, reaching SAR1.2 trillion ($320 billion) by the end of last…

Asharq Al Awsat (Riyadh)
Business Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)

Pakistan Sees Economy on Long-Term Recovery Path Under IMF Program

Pakistan's economy is on a path to long-term recovery, thanks to a stabilization program backed by the International Monetary Fund, Prime Minister Shehbaz…

Asharq Al Awsat (Islamabad)
Business The fourth annual LEAP25 conference, the region's premier technology event, concluded in Riyadh on Wednesday. Asharq Al-Awsat

LEAP25 Concludes in Riyadh with Multibillion-Dollar Investments

The fourth annual LEAP25 conference, the region's premier technology event, concluded on Wednesday after it marked another success for Saudi Arabia as a global…

Asharq Al Awsat (Riyadh)
Business Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. (Reuters)

‘Saudia’ Expands Flight Network with Over 10 New Destinations in 2025

Saudi Airlines (Saudia) has announced the addition of more than ten new destinations to its flight network for 2025, including Vienna, Venice, Larnaca, Athens,…

Asharq Al Awsat
Business The employee of a currency exchange shop counts US dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. REUTERS/Jose Luis Gonzalez/File Photo

Dollar Jumps as Consumer Prices Rise More than Expected

The US dollar jumped on Wednesday after data showed that consumer prices rose more than economists expected in January, raising the likelihood that the Federal…

Asharq Al Awsat
Business A 3D-printed oil pump jack is seen in front of the OPEC logo (File Photo: Reuters)

OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts

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

Asharq Al Awsat
Business OPEC Secretary-General Haitham Al-Ghais. (Reuters)

Al-Ghais: OPEC Assesses Market Independently of Political Considerations

OPEC Secretary-General Haitham Al-Ghais stressed that the organization’s decisions are guided by a long-term vision for global markets, aiming to achieve price…

Asharq Al Awsat (New Delhi)
Business In this photo from August 20, 2018, a man counts Lebanese pounds at an exchange shop in Beirut, Lebanon. (AP)

JP Morgan Proposes Restructuring Scenario for Lebanon's Sovereign Bonds

Global financial services firm JPMorgan said the recent positive developments in Lebanon raise hopes for the normalization of the political dynamics in the…

Ali Zeineddine (Beirut)
Business An oil pumpjack is pictured in the Permian basin, Loco Hills regions, New Mexico, US, April 6, 2023. (Reuters)

Oil Prices Retreat After Report of US Crude Stockpile Rise 

Oil prices edged down on Wednesday as an industry report showed an increase in US crude stockpiles and tariff worries weighed on sentiment, though stronger…

Business An employee cleans a container at a steel tank factory in Mexico City, Tuesday, Feb. 11, 2025. (AP)

Trump Administration Readies Reciprocal US Tariffs as Trade War Fears Mount 

Donald Trump's trade advisers were finalizing plans on Wednesday for the reciprocal tariffs the US president has vowed to impose on every country that charges…

Business Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP)

Pakistan Sees Economy on Long-Term Recovery Path Under IMF Program 

Pakistan's economy is on a path to long-term recovery, thanks to a stabilization program backed by the International Monetary Fund, Prime Minister Shehbaz…

Business Gatherers at the second edition of the PIF and Private Sector Forum. (PIF and Private Sector Forum)

Saudi Arabia Strengthens Private Sector Collaboration at PIF Forum

Saudi Arabia is intensifying efforts to boost private sector contributions to its economy and attract foreign investments, aligning with Vision 2030’s goal of…

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

Oil Climbs on Supply Worries, Trump Tariffs Check Gains

Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats despite worries that escalating trade tariffs…

Asharq Al Awsat
Business FILED - 16 March 2023, Bavaria, Munich: Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Photo: Sven Hoppe/dpa

Gold's Record Highs are More than Just Trump Froth

Gold's surge to a fresh record high is being fuelled by fears of an escalating global trade war instigated by US President Donald Trump. But behind the froth…

Asharq Al Awsat
Business President of the European Commission Ursula von der Leyen arrives for a plenary session at the Artificial Intelligence (AI) Action Summit, at the Grand Palais, in Paris, on February 11, 2025. (AFP)

EU Vows Tough Countermeasures to US Tariffs 

European Union chief Ursula von der Leyen vowed on Tuesday that US tariffs on steel and aluminum “will not go unanswered,” adding that they will trigger tough…

Business A group photo after the signing of the agreement between NEOM and Datavolt. (LEAP 25)

NEOM, Datavolt Partner on $5 Billion Sustainable AI Project

NEOM has signed a strategic partnership with Saudi-based Datavolt, a global leader in data center investment, development, and operations, to establish a large…

Asharq Al Awsat (Riyadh)
Business Prince Dr. Faisal bin Abdulaziz bin Ayyaf, Mayor of Riyadh and Chairman of the Infrastructure Projects Center, speaking during the event (Asharq Al-Awsat).

Saudi Arabia Unveils First Comprehensive Master Plan for Riyadh’s 2025 Projects

Saudi Arabia has announced its first-ever comprehensive master plan for all infrastructure projects in Riyadh for the upcoming year, with the aim to reduce…

Asharq Al Awsat (Riyadh)
Business An employee arranges gold jewelry kept for display at a store in Amritsar on February 8, 2025. (Photo by Narinder NANU / AFP)

Fresh Trump Tariffs Catapult Gold to Record High

Gold prices soared to a record high on Tuesday, as investors flocked to the safe-haven asset after US President Donald Trump imposed fresh 25% tariffs on steel…

Asharq Al Awsat
Business Items inside a small metal fabrication plant, in Seoul, South Korea, 11 February 2025. EPA/JEON HEON-KYUN

Trump Raises Tariffs on Aluminum, Steel Imports

President Donald Trump substantially raised tariffs on steel and aluminum imports on Monday to a flat 25% "without exceptions or exemptions" in a move to aid…

Asharq Al Awsat (Washington)
Business A retired Syrian employee waits to receive their salary for the first time after the fall of Bashar al-Assad's regime, in Damascus, Syria, 06 February 2025. (EPA)

Sanctions on Syrian Banks Choke Recovery Hopes, Investment Chief Says

Western sanctions on Syria's banking sector are preventing critical investments in the war-ravaged economy despite huge interest from Syrian and foreign…

Business HP’s President and CEO, Enrique Lores (Asharq Al-Awsat)

HP CEO Announces Launch of 1st Advanced Manufacturing Facility in Riyadh, Creating Thousands of Jobs

Saudi Arabia continues to attract global investments as it builds a future-ready economy in line with its ambitious Vision 2030. In the latest development, HP…

Nassim Ramadan (Riyadh)
Business FILE PHOTO: File photograph of Tengizchevroil oil and gas refinery plant on Tengiz oil field in western Kazakhstan, August 24, 2004. REUTERS/Shamil Zhumatov/File Photo

Oil Climbs as Market Steadies after US Tariff Concerns

Oil prices ticked higher on Monday, rebounding after declines last week on concerns about a global trade war, as investors appeared to shrug off US President…

Asharq Al Awsat
Business (FILES) A photograph taken on April 30, 2024 shows gold bracelets displayed in a shop window on Green Street, east London. (Photo by James RYBACKI / AFP)

Gold Races to Record Highs after Trump's Tariff Threats

Gold climbed more than 1% on Monday, as US President Donald Trump's latest tariff plans heightened fears of a global trade war, fueling demand for the safe…

Asharq Al Awsat