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 ECB is confident that inflation is heading towards its target. Kirill KUDRYAVTSEV / AFP

ECB to Look Past Trump Risk and Push on with Rate Cuts

Despite US President Donald Trump's saber-rattling, the European Central Bank is set to press on with interest rate cuts Thursday as officials increasingly…

Asharq Al Awsat
Business A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold Prices Hold Steady as Investors Await US Fed Policy Cues

Gold prices remained steady on Wednesday, as investors awaited the US Federal Reserve's decision on interest rates due later in the day, while also focusing on…

Asharq Al Awsat
Business A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia to Bring Together 45 Ministers, 200 Speakers to Boost Global Jobs

Saudi Arabia will host 45 ministers and more than 200 local and international speakers to boost cooperation and create more suitable job opportunities for…

Bandar al-Mosalam (Riyadh)
Business Saudi Energy Minister Prince Abdulaziz bin Salman meets with Iraq’s Minister of Oil Hayan Abdul Ghani. (SPA).

Saudi Energy Minister Discusses Market Stability with Iraqi, Libyan Counterparts

As global oil markets anticipate the upcoming OPEC+ meeting next week, attention is focused on economic uncertainties, including weak economic data from China…

Asharq Al Awsat (London) Asharq Al Awsat (Riyadh)
Business Group photo of the ministers and members of the Board of Directors of the Arab Energy Fund. (SPA)

Saudi Energy Minister Emphasizes Arab Cooperation in Addressing Energy Challenges

Saudi Energy Minister Prince Abdulaziz bin Salman underscored the importance of Arab collaboration in overcoming energy sector challenges and promoting…

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

Oil Prices Ease on Rising US Inventories, Libyan Output

Oil prices slid on Wednesday, giving up some of last session's gains, as an increase in US crude stockpiles and easing worries over Libyan supplies weighed on…

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 Stabilizes after Selloff as Wider Markets Regain Balance

Gold prices held steady on Tuesday, anchored by stability in European equities and US stock futures, a day after bullion's sharp decline amid a tech-led…

Asharq Al Awsat
Business The Boeing logo is seen on the side of a Boeing 737 MAX at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra/File Photo

Boeing Reports $11.8 bln Loss, Largest since 2020

28 (Reuters) - Boeing on Tuesday reported an annual loss of $11.83 billion, its largest since 2020, as it grappled with problems at its commercial and defense…

Asharq Al Awsat
Business Hotels and shops are seen near the Prophet's Mosque in Madinah. (SPA)

Foreign Investment in Makkah, Madinah Real Estate Company Shares Boosts Capital Inflows 

Real estate experts have welcomed Saudi Arabia’s decision to allow foreign investment in real estate companies in the Makkah and Madinah regions. They said it…

Mohammed al-Mutairi (Riyadh)
Business Officials are seen at a panel discussion at the Real Estate Future Forum in Riyadh, Saudi Arabia. (Real Estate General Authority)

Saudi Real Estate Projects Surpass $40 Bn in 2024

Saudi Arabia’s real estate sector saw significant growth in 2024, with 192 licenses issued for projects valued at 147 billion riyals ($40 billion). This…

Asharq Al Awsat (Riyadh)
Business US investor and hedge fund manager Scott Bessent testifies before a Senate Finance Committee hearing on his nomination to be Secretary of the Treasury, on Capitol Hill in Washington, DC, on January 16, 2025. (AFP)

Billionaire Financier Bessent Confirmed as Trump’s Treasury Chief 

Billionaire hedge fund manager Scott Bessent won Senate approval Monday to become US Treasury secretary, placing him at the forefront of implementing Donald…

Business President Donald Trump speaks to reporters aboard Air Force One en route from Miami to Joint Base Andrews, Md., Monday, Jan. 27, 2025. (AP)

Trump’s Copper, Aluminium Tariffs May Raise Costs for US Consumers 

President Donald Trump's vow of tariffs on US copper and aluminium imports would result in higher costs for local consumers because of a shortfall of domestic…

Business An offshore oil rig is pictured off the coast of Huntington Beach, California, US, November 14, 2024. (Reuters)

Oil Prices Hover Near Two-Week Low; Weak China Data Adds to Demand Concerns 

Oil prices ticked up but hovered near a two-week low on Tuesday after weak economic data from China and warming weather forecasts elsewhere soured the demand…

Business Oxagon, NEOM's reimagined industrial city on the Red Sea. (NEOM)

NEOM Closes $3 Billion Financing Facilities to Support Development of Its Projects

NEOM secured on Monday a landmark financing agreement with Italy’s SACE, securing approximately $3 billion under a long-term multicurrency untied facility. …

Asharq Al Awsat (Riyadh)
Business A woman holds a red paper with Chinee calligraphy “Good Fortune” as people line up to get the red paper ahead of the Lunar New Year in Beijing, Wednesday Jan. 22, 2025 (AP)

Xi: China Will Defuse External Shocks to Promote Sustained Economic Recovery

Chinese President Xi Jinping on Monday said that his country will guard against and defuse risks in key areas and external shocks in 2025, to promote sustained…

Asharq Al Awsat (Beijing)
Business FILE PHOTO: Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin Drops to 11-day Low amid Tech Selloff

Bitcoin fell below $100,000 on Monday, hitting its lowest in 11 days, in a move analysts attributed to a wave of caution after the surging popularity of a…

Asharq Al Awsat
Business Pump Jacks are seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson

Oil Wavers as Trump's Colombia Sanctions Threat Rattles Markets

* Oil market momentum was kept in check on Monday as prices fluctuated in and out of negative territory, with traders on edge despite the US pulling back from…

Asharq Al Awsat
Business The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA

Saudi Arabia, Italy Sign 26 Investment MoUs

The Saudi-Italian high-level roundtable took place in AlUla on Sunday, with the participation of Italian Prime Minister Giorgia Meloni, Saudi Minister of…

Asharq Al Awsat (AlUla)
Business The Governor of the Central Bank of Iraq meets a US delegation in Baghdad. (Central Bank of Iraq)

Iraqi Central Bank Discusses Foreign Transfer Mechanisms with US Delegation

Governor of the Central Bank of Iraq Ali Mohsen Al-Alaq held talks with Steve Lutes, Vice President of Middle East Affairs at the US Chamber of Commerce and…

Asharq Al Awsat (Baghdad)
Business The CMA said that under Monday's move foreign investment would be limited to shares, convertible debt instruments, or both. SPA

Saudi Arabia Allows Foreigners to Invest in Firms with Property in Makkah, Madinah

Saudi Arabia's market regulator said on Monday it would allow foreign investment in listed companies that own real estate within Islam's two holiest sites of…

Asharq Al Awsat (Riyadh)
Business President of the European Central Bank (ECB) Christine Lagarde attends a plenary session during the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, 24 January 2025. EPA/MICHAEL BUHOLZER

ECB President Fears Loss of Central Bank Independence

Central bank independence is being questioned in parts of the world and greater political influence over policy could undermined their ability to keep…

Asharq Al Awsat
Business Dr. Zuhair Al-Sarraj, Secretary-General of the conference (Media Center)

Saudi Arabia Embraces Digitalization and AI to Enhance Asset, Facility Management Efficiency

A recent research study presented during the International Conference on Asset, Facility Management, and Maintenance, held in Jeddah, underscored the deep…

Asma al Ghabri (Jeddah)
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 Retreats as Dollar Firms; Fed Decision Looms

Gold prices dipped on Monday, pressured by a firmer US dollar, while investors focused on the Federal Reserve's first meeting of 2025 for more guidance on the…

Asharq Al Awsat
Business Saudi and Italian officials meet during Meloni's visit to the Kingdom on Sunday. (SPA)

Saudi Arabia and Italy Boast Trade Volume of Around $10.9 Billion

Economic affairs were the key focus of Italian Prime Minister Giorgia Meloni’s visit to Saudi Arabia, which began on Saturday and continues until Monday…

Asharq Al Awsat (AlUla)