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 Saudi flag. Asharq A-Awsat

Saudi FM Leads High-Ranking Delegation to WEF Annual Meeting in Davos

A high-level Saudi delegation led by Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah will participate in the World Economic Forum (WEF)…

Asharq Al Awsat (Riyadh)
Business This will be the second time Saudi House features at the WEF Annual Meeting

Saudi House Pavilion to Debut at WEF AM25

Saudi Arabia on Saturday announced the first-ever Saudi House pavilion for the World Economic Forum (WEF) Annual Meeting, which takes place from 20-24 January…

Asharq Al Awsat
Business FILE PHOTO: A wheat crop ready for harvest in a farmer’s field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo

Egypt's Government Says Strategic Wheat Reserves Good for 4 Months

Egypt has strategic wheat reserves that are sufficient for four months of local consumption, according to a statement by the Egyptian Cabinet issued on…

Asharq Al Awsat
Business FILED - 24 October 2024, US, Washington: The logo of the International Monetary Fund (IMF) is seen on the facade of the conference building on Pennsylvania Street. Photo: Soeren Stache/dpa

IMF Sees Steady Global Growth

The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is…

Asharq Al Awsat (Washington)
Business  Scott Bessent, US President-elect Donald Trump's nominee to be secretary of treasury, looks on as he testifies during a Senate Committee on Finance confirmation hearing on Capitol Hill in Washington, US, January 16, 2025. (Reuters)

Trump Treasury Pick Bessent Backs Fed Independence, Dollar, Sanctions on Russian Oil

President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the…

Business  People shop around at a market in Beijing, Thursday, Jan. 16, 2025. (AP)

China’s Economy Meets Official Growth Target, but Many Feel a Downturn

China's economy matched the government's ambitions for 5% growth last year, but in a lopsided fashion, with many people complaining of worsening living…

Business Drilling and excavation work at a site in the Arabian Shield region, Saudi Arabia (SPA)

Saudi Arabia Completes 90% of Arabian Shield Survey

Saudi Arabia is advancing its exploration of mineral resources in the Arabian Shield, a region covering 630,000 square kilometers, about a third of the country…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo

Oil Up, Heads for 4th Weekly gain as US Sanctions Hit Supply

Oil prices rose on Friday and headed towards a fourth consecutive weekly gain as the latest US sanctions on Russian energy trade hit supply and pushed up spot…

Asharq Al Awsat
Business The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA

Saudi-Thai Economic and Trade Committee Discusses Boosting Trade

The Economic and Trade Committee of the Saudi-Thai Coordination Council held on Thursday its first meeting in Bangkok to strengthen trade relations between the…

Asharq Al Awsat (Bangkok)
Business WASHINGTON, DC - JANUARY 16: Workers build risers in Freedom Plaza ahead of the Inauguration on January 16, 2025 in Washington, DC. US President-elect Donald Trump and Vice President-elect former Sen. JD Vance (R-OH) will be sworn in on January 20. Kayla Bartkowski/Getty Images/AFP

World Bank Warns that US Tariffs Could Reduce Global Growth Outlook

The World Bank on Thursday warned that US across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3…

Asharq Al Awsat
Business Participants observe a presentation at Halliburton's booth at the World Petroleum Congress in Houston, Texas, US December 7, 2021. REUTERS/Liz Hampton/File Photo

Iraq to Sign Deal with Halliburton to Develop Nahr Bin Omar Oilfield

Iraq and US oil services firm Halliburton are close to finalizing an agreement to develop the Nahr Bin Omar oilfield, the head of Iraq's Basra Oil Company (BOC…

Asharq Al Awsat
Business A man walks at the site of shelling, which local officials called a Ukrainian military strike, in Donetsk, Russian-controlled Ukraine, on January 10, 2025, amid the ongoing Russian-Ukrainian conflict. (Photo by STRINGER / AFP)

Russian Gunpowder Factory Attacked, Ukrainian Official Says

A major Russian gunpowder factory in the Tambov region was attacked, a Ukrainian official said on Thursday, without directly claiming Ukrainian responsibility…

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 Steadies ahead of Trump Inauguration

The US dollar steadied on Thursday despite the sharp fall in US bond yields after Wednesday’s inflation data as market focus shifted to Donald Trump’s…

Asharq Al Awsat
Business SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

The Saudi Central Bank (SAMA) licensed "Nama United Financing" company to provide real-estate finance, production assets finance, small and medium enterprise…

Asharq Al Awsat
Business The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)

Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

Emaar Properties, Dubai's largest listed real estate firm, is in talks with "a few groups" in India including Adani Group to sell a stake of its Indian…

Asharq Al Awsat
Business Oil Retreats Slightly after Boost from US Crude Draw, Russia Sanctions

Oil Retreats Slightly after Boost from US Crude Draw, Russia Sanctions

Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on the latest US sanctions on Russia and a larger-than-forecast fall in US…

Asharq Al Awsat
Business Gold prices firmed near one-month highs hit earlier on Thursday - File Photo

Gold Hits One-month High as Prospects for Fed Cuts Rise on Softer US Inflation Data

Gold prices firmed near one-month highs hit earlier on Thursday after a softer-than-expected core US inflation print increased chances of two Federal Reserve…

Asharq Al Awsat
Business The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)

Saudi Arabia Advances to Become the ‘Silicon Valley’ of Mining

Saudi Arabia is pushing to become a global hub for critical minerals, aiming to be the “Silicon Valley” of mining. At the fourth Future Minerals Forum in…

Ayat Nur (Riyadh)
Business FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo

Oil Gains Capped by Uncertainty over Sanctions Impact

Oil prices crept higher on Wednesday as the market focused on potential supply disruptions from sanctions on Russian tankers, though gains were tempered by a…

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 Advances as Softer Core CPI Data Revives Fed Easing Hopes

Gold prices extended gains on Wednesday, as the dollar dipped after US core inflation data came in softer than expected, abating inflation pressures and…

Asharq Al Awsat
Business  The proposed JV would focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies - File Photo

Aramco Plans Transition Minerals Joint Venture with Ma'aden

Aramco, one of the world's leading integrated energy and chemicals companies, and Ma'aden, the largest multi-commodity mining and metals company in the Middle…

Asharq Al Awsat
Business Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef speaks at the start of the event. (Asharq Al-Awsat)

Saudi Arabia: Global Mining Needs $6 Trillion in Investments to Meet Demand

The global mining industry requires $6 trillion in investments over the next decade to meet rising demand, presenting a major challenge for the sector. This…

Asharq Al Awsat (Riyadh)
Business British Prime Minster Keir Starmer (L) welcomes Prime Minister of Iraq Mohammed Shia al-Sudani to 10 Downing Street in London, Britain, 14 January 2025. (EPA)

BP Nears Deals for Oil Fields, Curbs on Gas Flaring in Iraq

Iraq and British oil giant BP are set to finalize a deal by early February to develop four oil fields in Kirkuk and curb gas flaring, Iraqi authorities…

Business People visit the World Future Energy Summit 2025 (WFES) in Abu Dhabi, United Arab Emirates, 14 January 2025.  EPA/ALI HAIDER

Italy, Albania, UAE Sign Deal for Energy Subsea Interconnection

Italy, Albania and the United Arab Emirates signed on Wednesday a deal worth at least 1 billion euros ($1 billion) to build a subsea interconnection for…

Asharq Al Awsat