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 Ma'aden headquarters in Saudi Arabia (Asharq Al-Awsat)

Saudi Ma'aden Raises $1.25 Billion from Sukuk Issuance

Saudi Arabian Mining Company (Ma’aden) has successfully raised $1.25 billion from its first international issuance of senior unsecured Sukuk, marking one of…

Asharq Al Awsat (Riyadh)
Business President Donald Trump arrives on the South Lawn of the White House, in Washington, Monday, Feb. 10, 2025. (AP Photo/Jose Luis Magana)

Trump to Announce 25% Steel, Aluminum Tariffs in Latest Trade Escalation

US President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the US, on top of existing metals duties, in…

Asharq Al Awsat
Business Minister of Communications and Information Technology Abdullah Alswaha. SPA

Saudi Arabia Solidifies Position as Regional, Global Hub for AI with $14.9B in Investment at LEAP25

LEAP 2025 officially launched in Riyadh on Sunday, bringing together global technology and innovation leaders to reinforce Saudi Arabia's position as a primary…

Asharq Al Awsat (Riyadh)
Business Inside the factories of Immensa in Dammam (Asharq Al-Awsat)

Saudi Arabia Secures Half of the Gulf’s Energy Spare Parts Market

Saudi Arabia’s energy spare parts industry is experiencing unprecedented growth, driven by the adoption of digital manufacturing technologies. The Kingdom now…

Asharq Al Awsat (Dammam)
Business FILE PHOTO: Holidaymakers drive past a road sign at St. Arnaud on the South Island March 27, 2016.        REUTERS/Henning Gloystein/File Photo

New Zealand to Loosen Visa Rules to Lure Foreign Investors

New Zealand will relax visa rules to attract more foreign investors, in efforts to stimulate economic growth, its center-right government said on Sunday. …

Asharq Al Awsat
Business Amadou Dabo displays roughly seven grams of gold he bought from small-scale miners for about $30 in Kalana, August 25, 2012. (Reuters)

Mali Gold Production Plunges 23% in 2024

Mali's industrial gold production plunged 23% to 51 metric tons last year from 66.5 tons in 2023, the West African country's mines ministry said. Mali is one…

Business Alkhorayef's meetings were part of his official visit to India that is focused on strengthening bilateral economic relations and attracting investments to the Kingdom's industrial and mining sectors. (SPA)

Saudi Industry Minister Discusses Cooperation with Indian Mining Leaders

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings with leaders of prominent Indian mining companies to…

Business The partnership is an extension of both parties' commitment to developing sustainable energy solutions that support the transition to clean energy and reduce emissions. (SPA)

Saudi Electricity Company, Hitachi Energy Strengthen Partnership to Adopt Eco-Friendly Technology

The Saudi Electricity Company (SEC) signed a memorandum of understanding (MoU) with Hitachi Energy to adopt advanced technology for electrical switches and…

Business People walk in a commercial suburb of Japan’s capital, Tokyo. (AFP)

IMF Says Too Early for Precise Analysis on Trump Tariff Impact

It is too early for any precise analysis of the consequences of higher US tariffs against other countries, Gita Gopinath, the first deputy managing director of…

Business Israeli army vehicles drive along a damaged road near the main entrance to Jenin refugee camp during an ongoing Israeli military operation in the West Bank city of Jenin, 05 February 2025. (EPA)

In West Bank, Israeli Army Operation Batters War-Depleted Economy

When a ceasefire began in Gaza last month, Palestinian activist Ahmad Kilani hoped the pause in fighting would also bring a return to peace in his hometown of…

Business  President Donald Trump greets Japanese Prime Minister Shigeru Ishiba in the Oval Office of the White House, Friday, Feb. 7, 2025, in Washington. (AP)

‘We Love Japan,’ Says Trump as He Welcomes Ishiba amid Simmering Trade Tensions

US President Donald Trump welcomed Japanese Prime Minister Shigeru Ishiba at the White House on Friday as two allies wary of China's rise work to boost…

Business Wage improvements in certain sectors contributed to higher disposable incomes (Photo: Reuters)

Foreign Remittances from Saudi Arabia Reach Highest Level Since 2022

Foreign remittances from Saudi Arabia saw a notable increase of 14% in 2024 compared to the previous year, reaching SAR144 billion ($38.4 billion), the highest…

Asharq Al Awsat (Riyadh)
Business People sell vegetables at a street market in Lagos, Nigeria, 04 February 2025. EPA/EMMANUEL ADEGBOYE

World Food Commodity Prices Fall in January

Global food commodity prices fell in January, led by sharp declines in sugar and vegetable oils, the Food and Agriculture Organization (FAO) said on Friday…

Asharq Al Awsat
Business As of July 1, two weekly flights will be operated between King Abdulaziz International Airport in Jeddah and El Alamein International Airport - SPA

flynas Launches 2 Weekly Direct Flights Between Jeddah, El-Alamein

flynas, the leading low-cost airline in the world, announced the launch of direct flights between Jeddah and El Alamein on the north coast of Egypt starting…

Asharq Al Awsat
Business The meeting brought together representatives from both the public and private sectors to discuss ways to enhance Saudi-Bahraini cooperation across various fields - SPA

Saudi Arabia, Bahrain Convene Investment, Environment and Infrastructure Committee

Saudi Arabia and Bahrain convened in the Eastern Region’s Khobar the third round of the subcommittee on investment, environment, and infrastructure, emanating…

Asharq Al Awsat
Business Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. Asharq Al-Awsat

Saudi Crown Prince Announces 'King Salman Automotive Cluster' in KAEC

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, has designated “King Salman Automotive Cluster" as the official name…

Asharq Al Awsat (Riyadh)
Business FILED - 10 January 2023, Baden-Wuerttemberg, Horb am Neckar: A container with the logo of A.P. Moller-Maersk Group stands at the Black Forest Terminal (BFT) site. Photo: Silas Stein/dpa

Maersk Eyes 4% Market Growth in 2025, Uncertainty over Tariffs and Red Sea

Maersk on Thursday said it expects to grow its business to track an expected 4% growth in container shipping this year, even as profits are set to decline and…

Asharq Al Awsat
Business Buildings are seen in Riyadh, Saudi Arabia, December 18, 2017. REUTERS/Faisal Al Nasser/File Photo

Infrastructure, Digital Trends Drive Evolution of Saudi Retail Market

Saudi Arabia is emerging as one of the region’s most attractive investment markets, with significant growth potential in the retail sector projected through…

Asharq Al Awsat (Riyadh)
Business Container Ship CMA CGM Rigoletto moored at a container terminal at the Port of Los Angeles in Los Angeles, California on February 3, 2025. (AFP)

Syria Agrees to New Contract with CMA CGM to Operate Latakia Port Container Terminal

Syria's General Authority for Land and Sea Ports said on Wednesday that it had agreed to a new contract with French shipping and logistics group CMA CGM to…

Business A Libyan flag is seen outside an oil refinery in Zawiya on Sept. 23, 2011. (AFP/Getty Images)

Libya's Zawiya Refinery Resumed Operations on Dec. 23

Libya's Zawiya refinery, the OPEC producer's biggest functioning oil refinery, resumed operations on Dec. 23, a source from the National Oil Corporation said…

Asharq Al Awsat
Business Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Iran Calls for OPEC to Unite against Potential US Oil Sanctions

Iran's President Masoud Pezeshkian urged OPEC members to unite against possible US sanctions, after US President Donald Trump said he would seek to drive…

Asharq Al Awsat
Business People walk in front of the Central Bank of Egypt's headquarters at downtown Cairo, Egypt, November 3, 2016. REUTERS/Mohamed Abd El Ghany//File Photo

Egypt's Net Foreign Assets Slip in December

Egypt's net foreign assets (NFAs) slid by $592.1 million in December, their third decline in three months, after a series of foreign liabilities put payments…

Asharq Al Awsat
Business Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth/File Photo

Gold Demand Up 1% in 2024, to Remain Supported by Economic Uncertainty, World Gold Council Says

Global gold demand including over-the-counter (OTC) trading rose by 1% to a record high of 4,974.5 metric tons in 2024 as investment increased, the World Gold…

Asharq Al Awsat
Business A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier/File Photo

Oil Drops Amid Rising US Crude Inventories, Sino-US Tariff War

Oil prices dropped over 1% on Wednesday as rising US stockpiles and concern about a new Sino-US trade war fuelled fears of weaker economic growth, offseting US…

Asharq Al Awsat