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 MoU focuses on fostering the growth of development sectors. SPA

Saudi Fund for Development, Italy's CDP Sign MoU for Development Collaboration

CEO of the Saudi Fund for Development Sultan bin Abdulrahman Al-Marshad signed a memorandum of understanding (MoU) for development cooperation with CEO and…

Asharq Al Awsat (AlUla)
Business FILE PHOTO: A general view of the commercial harbor of Syria's coastal city of Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo

EU May Suspend Syria Sanctions on Energy and Transport

The European Union may soon suspend sanctions on Syria related to energy and transport but has yet to agree on whether to ease restrictions on financial…

Asharq Al Awsat
Business High-Level Saudi Delegation Concludes Davos Forum with WEF Founder and Executive Chairman Klaus Schwab (SPA)

Saudi Arabia Calls from Davos to Reshaping Global Economic Approach

Saudi Arabia has called for a “reshaping of the global economic approach” amidst severe disruptions and trade tensions that are impacting global growth rates…

Asharq Al Awsat (Davos)
Business Egypt’s Minister of Industry and Transport with Senegal’s Minister of Fisheries, Infrastructure, and Ports (Egyptian Ministry of Transport)

Egypt Strengthens African Ties with Senegal in Maritime Transport Cooperation

Egypt is intensifying its efforts to strengthen ties with African nations, with the latest development being a cooperation agreement with Senegal in maritime…

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

Saudi Arabia to Host Regular World Economic Forum Global Meeting

Saudi Arabia will host a regular high-level World Economic Forum (WEF) global meeting in Riyadh, with the first slated for the Spring of 2026. Saudi Minister…

Business Maersk shipping line Cabo Verde offloads containers within the Kenya Ports Authority (KPA) container terminal at the port of Mombasa, Kenya, January 9, 2025. REUTERS/Laban Walloga

Maersk Not Returning to the Gulf of Aden for Now

Maersk will continue to divert vessels away from the Gulf of Aden and Red Sea and toward the southern tip of Africa despite Yemen's Houthis announcing they…

Asharq Al Awsat
Business The World Economic Forum in Davos hosted a session titled “Economic Transformations in Saudi Arabia”, in the presence of key Saudi officials. (Asharq Al-Awsat) 

IMF: Saudi Arabia Has Created a Favorable Environment for Growth

The World Economic Forum in Davos hosted a session titled “Economic Transformations in Saudi Arabia,” focusing on the Kingdom’s remarkable economic progress…

Asharq Al Awsat (Davos )
Business The Wolf Moon is shown over the capital Nicosia in the southeast island of Cyprus, Wednesday, Jan. 15, 2025. (AP Photo/Petros Karadjias)

ExxonMobil Launches 'Promising' Exploration Well Off Cyprus

ExxonMobil and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X…

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

S&P Expects Saudi Issuances to Continue Domestically, Internationally Driven by Vision 2030

S&P Global Ratings anticipates that Saudi issuers will continue to tap local and international capital markets to finance projects under Saudi Arabia’s Vision…

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

Oil Prices Held Down by Trump Tariff Uncertainty

Oil prices were little changed on Thursday, maintaining almost all of the previous session's losses on uncertainty over how US President Donald Trump's…

Asharq Al Awsat
Business GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

Saudi Arabia’s General Authority for Statistics (GASTAT) released the international trade publication for November 2024, revealing a 19.7% increase in non-oil…

Asharq Al Awsat
Business The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA

WEF, GCF to Establish Global Center for Cyber Economics in Riyadh

The Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF) announced the signing of an agreement to establish the Center for Cyber Economics (CCE)…

Asharq Al Awsat
Business 14 January 2025, Türkiye, Istanbul: A man seen rowing his boat along the Moda beach. Photo: Onur Dogman/SOPA Images via ZUMA Press Wire/dpa

Türkiye Cenbank Cuts Rates by 250 Points to 45% as Expected

Türkiye's central bank cut its key interest rate by 250 basis points to 45% as expected on Thursday, carrying on an easing cycle it launched last month…

Asharq Al Awsat
Business Eng. Abdullah Alswaha held meetings with leaders of leading global companies in Davos

Saudi Arabia, Major Tech Companies Discuss Expanding Future AI Partnerships

The Saudi Minister of Communications and Information Technology (MCIT) Eng. Abdullah Alswaha has held meetings with leaders of leading global companies during…

Asharq Al Awsat (Davos)
Business Derayah Financial Joins Flurry of Saudi Firms Seeking a Listing

Derayah Financial Joins Flurry of Saudi Firms Seeking a Listing

Saudi Arabia's Derayah Financial became the first firm to announce plans this year to float on Riyadh's main market, after it said on Thursday it was offering…

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 Pulls Back from Near 3-month High as Dollar Regains Strength

Gold prices eased on Thursday from a near three-month peak hit in the previous session, as the dollar regained strength, while investors awaited further…

Asharq Al Awsat
Business Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP

Trump to Take Virtual Center Stage in Davos

Donald Trump on Thursday will star in an eagerly-anticipated online appearance at the World Economic Forum in Davos, addressing global elites whose annual…

Asharq Al Awsat
Business Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)

Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi announced on Wednesday that the Kingdom’s trade in services reached SAR540 billion in 2023, reflecting an…

Business A view of Morocco's Tanger Med Port. (AFP file)

Morocco’s Tanger Med Port Handles 10.24 Mln Containers in 2024

Morocco's Tanger Med Port said on Wednesday it maintained its position as the Mediterranean's leading port handling 10.24 million containers, up 18.8% from a…

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

Trump Uncertainties Push Safe-haven Gold to Near all-time Highs

Gold prices soared to near three-month highs on Wednesday, trading below its record peak, fuelled by a soft dollar and lack of clarity around US President…

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 Hits 2-week Low as Traders Ponder Trump Tariff Plans

The dollar touched a fresh two-week low on Wednesday, as a lack of clarity on President Donald Trump's plans for tariffs kept financial markets guessing and…

Asharq Al Awsat
Business Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency

Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Oman's state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part…

Asharq Al Awsat (Muscat)
Business  A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)

Saudi Arabia Raises its Non-Oil Economic Growth Forecast to 6.2% in 2026

Saudi Arabia has raised its forecast for non-oil economic growth in 2026 to 6.2%, marking a jump from previous estimates of 5%. Saudi Minister of Economy…

Asharq Al Awsat (Davos)
Business The Public Investment Fund (PIF) logo

Saudi PIF, Elm Sign Agreement for Elm to Acquire Thiqah

The Public Investment Fund (PIF) and Elm, a leading digital solutions company, have signed a share sale and purchase agreement for Elm to acquire Thiqah…

Asharq Al Awsat (Riyadh)