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 Workers at electrical equipment factory in Saudi Arabia. (Asharq Al-Awsat) 

Saudi Arabia’s Non-Oil Private Sector Records Fastest Growth in a Decade

Saudi Arabia’s non-oil private sector has expanded at its fastest pace in 10 years, driven by record-high demand and an increase in new orders at the sharpest…

Bandar al-Mosalam (Riyadh)
Business A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Investment Licenses Surge 67.7% Amid Attractive Business Climate

The number of investment licenses in Saudi Arabia surged by 67.7% in 2024, reflecting the Kingdom’s growing appeal as an investment destination. According…

Asharq Al Awsat (Riyadh)
Business A previous meeting of the Saudi Council of Economic and Development Affairs, chaired by Prince Mohammed bin Salman, Crown Prince and Prime Minister. (Asharq Al-Awsat)

Saudi CEDA Approves Conclusion of ‘Financial Sustainability Program’ after Plan Completion

The Saudi Council of Economic and Development Affairs (CEDA) approved the conclusion of the Financial Sustainability Program, one of the first programs of the…

Asharq Al Awsat (Riyadh)
Business British and American flags are seen in Los Angeles, California, US, May 15, 2018. (Reuters)

Britain Hopes to Avoid US Tariffs Thanks to Surpluses and Services  

Britain and the United States trade hundreds of billions of dollars' worth of goods and services annually, but London hopes that ambiguities in the data will…

Business European Commission President Ursula von der Leyen speaks during a press conference with Poland's Prime Minister Donald Tusk and European Council President Antonio Costa during a press conference at NATO Headquarters, in Brussels, Belgium, 03 February 2025. (EPA)

Von der Leyen: EU Will Be Ready for Tough Negotiations with US 

The European Union will be ready for tough negotiations with the United States to protect its own interests and will be pragmatic in trying to find solutions,…

Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef speaks at the roundtable meeting with leaders from India's private sector in New Delhi. (SPA)

Industry Minister: Saudi Arabia Seeks to Boost Partnership with India in Strategic Industries 

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef stressed on Tuesday Saudi Arabia’s commitment to boosting its strategic partnership with…

Business SRMG Think hosted a high-level discussion in Riyadh on the IMF’s latest GCC report.

SRMG Think Holds High Level Discussion on IMF Report on GCC Economies

SRMG Think hosted a high-level discussion in Riyadh on the IMF’s latest GCC report titled “Gulf Cooperation Council — Pursuing Visions Amid Geopolitical…

Business A general view of Muscat, Oman. (Getty Images)

Oman Invites Bids for Oil and Gas Exploration in Three Blocks

Oman has invited investors to bid to explore for oil and gas in three concession areas, the energy ministry said on Tuesday, as it seeks help to monetize its…

Business A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade/File Photo

Gold Steadies after Record Rally as Tariff Concerns Loom Large

Gold prices were steady on Tuesday, after a record rally in the previous session, with investors cautious about the potential effects of President Donald Trump…

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

US Dollar Holds Ground as China Tariffs Kick in, Euro Slides

US dollar held its ground on Tuesday as President Donald Trump's tariff threats were interpreted more as a negotiating tactic rather than an end goal, a day…

Asharq Al Awsat
Business US President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, US, January 31, 2025.  (Reuters)

Trump Orders Creation of US Sovereign Wealth Fund, Says It Could Own Part of TikTok 

President Donald Trump on Monday signed an executive order directing the US to take steps to start developing a government-owned investment fund that he said…

Business Governor of Eastern Province Prince Saud bin Nayef bin Abdulaziz sponsors the signing and launch of investment contracts and projects. (SPA)

$160 Mn Investment Contracts Signed to Develop Saudi Arabia's Eastern Province

A number of investment agreements worth over SAR 600 million ($160 million) were signed on Monday between Saudi Arabia’s Eastern Province Municipality and…

Asharq Al Awsat (Al-Dammam)
Business A worker at one of Masar’s projects in Makkah, Saudi Arabia. (Asharq Al-Awsat)

‘Umm Al-Qura’ Share Offering Strengthens Saudi Market and Boosts Economy

Economic experts and analysts see the plan by the Umm Al-Qura for Development and Construction Company (Umm Al-Qura) to list its shares on the Saudi Stock…

Mohammed al-Mutairi (Riyadh)
Business  The NEOM Green Hydrogen Project. (NEOM)

Saudi Arabia Sees Germany as Gateway for Green Hydrogen Exports to Europe

Saudi Arabia is expanding its green hydrogen and ammonia production and export to Europe. The latest move comes after the Kingdom’s ACWA Power and Germany’s…

Bandar al-Mosalam (Riyadh)
Business Fenix cranes at the Port of Los Angeles in Long Beach, California, USA, 03 February 2025. (EPA)

China Hits Back with Tariffs on US Goods After Trump Imposes New Levies 

China on Tuesday slapped tariffs on US imports in a rapid response to new US duties on Chinese goods, renewing a trade war between the world's top two…

Business In an aerial view, vehicles sit in traffic while waiting to cross the US-Mexico border on February 03, 2025 in Laredo, Texas. (Getty Images via AFP)

Trump Agrees to Pause Tariffs on Mexico, but Import Taxes Still in Place for Canada and China

US President Donald Trump and Mexican President Claudia Sheinbaum put their planned tariffs on hold Monday for a month to give time for further negotiations,…

Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)

Oil Prices Gain as Trump Tariffs Stoke Supply Worries

Oil prices rose on Monday after US President Donald Trump imposed tariffs on Canada, Mexico and China, raising fears of supply disruption, though gains were…

Asharq Al Awsat
Business The Royal Commission for Riyadh City has begun implementing the second phase of its Ring and Main Road Development Program (Asharq Al-Awsat)

Riyadh Begins Implementation of $2.1 Billion Road Development Projects

As part of efforts to enhance Riyadh’s transportation network, improve connectivity, and position the city as a leading hub for sustainable transport and…

Asharq Al Awsat (Riyadh)
Business A goldsmith crafts jewelry at a workshop in Karachi, Pakistan, 29 January 2025. EPA/SHAHZAIB AKBER

Gold Pares Losses as Trump Tariffs Drive Safe-haven Interest

Gold prices erased early losses on Monday to remain close to record highs on safe-haven demand driven by growth and inflation concerns sparked by US President…

Asharq Al Awsat
Business Saudi ACWA Power, Germany’s SEFE Cooperate on Green Hydrogen Production and Export

Saudi ACWA Power, Germany’s SEFE Cooperate on Green Hydrogen Production and Export

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz met in Riyadh on Monday with German Minister of Finance Jörg Kukies to discuss key topics of…

Asharq Al Awsat (Riyadh)
Business Silvina Moschini, founder of Unicoin

First Woman-Led Unicorn in the Middle East to Be Announced Soon

Saudi Arabia is set to become the first market in the Middle East to host a unicorn company led by a woman, reflecting the growing number of female…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Finance Mohammed Al-Jadaan chaired the Saudi-German Roundtable meeting. SPA

Saudi-German Roundtable Meeting Discusses Enhancing Bilateral Ties

Saudi Minister of Finance Mohammed Al-Jadaan has chaired the Saudi-German Roundtable meeting, which aimed to enhance bilateral relations and explore avenues…

Asharq Al Awsat (Riyadh)
Business People shop at a retail store on Black Friday, Nov. 25, 2022, in New York. (AP)

EU Slams Trump Tariffs, Says Will 'Respond Firmly' If Targeted

The European Union on Sunday blasted US President Donald Trump's sweeping tariffs on Canada, Mexico and China, and said the 27-nation bloc would hit back …

Business People shop at fabric stores in the Eminonu district in Istanbul. (Reuters)

Istanbul Consumer Price Index Shows Rise in Türkiye’s National Month-on-Month inflation

The consumer price index in Istanbul, Türkiye’s largest city and its economic center, rose 5.16% month-on-month in January and 48.4% year-on-year, according to…