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 key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA

Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with Italian Minister of Environment and Energy Security Gilberto Pichetto…

Asharq Al Awsat (Riyadh)
Business The Saudi capital Riyadh. Reuters

GASTAT: Inflation Rate in Saudi Arabia Reached 1.9% in December

The annual inflation rate in Saudi Arabia reached 1.9% in December 2024, according to the General Authority for Statistics (GASTAT). The Kingdom has the…

Asharq Al Awsat (Riyadh)
Business Lebanese President Joseph Aoun stands between Speaker of Parliament Nabih Berri and caretaker Prime Minister Najib Mikati (dpa)

Urgent Financial Tasks Await Lebanon’s Emerging Government

A broad internal consensus, encompassing both political and economic dimensions, is taking shape to adopt the principles outlined in the presidential…

Ali Zeineddine (Beirut)
Business People walk past a billboard which reads I love Beijing, Happy New Year at 798 art district, ahead of the upcoming Lunar New Year, marking the Year of the Snake, in Beijing on January 14, 2025. (Photo by JADE GAO / AFP)

US Tariffs Could Slow China's Growth to 4.5% in 2025

China's economic growth is likely to slow to 4.5% in 2025 and cool further to 4.2% in 2026, a Reuters poll showed, with policymakers poised to roll out fresh…

Asharq Al Awsat (Beijing)
Business Trucks working in a mineral mine (Saudi Public Investment Fund)

Saudi Firm Manara May Invest in Pakistan's Reko Diq Mine

Saudi Arabian mining company Manara Minerals could invest in Pakistan's Reko Diq mine in the next two quarters, Pakistani Petroleum Minister Musadik Malik said…

Asharq Al Awsat (Riyadh)
Business Riyadh, Saudi Arabia (Reuters)

GCC States’ GDP Projected to Reach $6 Trillion in 2025

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi affirmed that GCC countries hold a significant economic status globally, with…

Asharq Al Awsat (Riyadh)
Business Yemeni Oil and Minerals Minister Saeed Al-Shammasi

Yemen Minister: We Aim to Invest in Lithium Reserves for Renewable Energy

Yemen has reserves of lithium, a key mineral for battery and electric vehicle production, according to preliminary studies, Oil and Minerals Minister Saeed Al…

Asharq Al Awsat (Riyadh)
Business The Saudi Ministry of Industry and Mineral Resources signed a series of MoUs and cooperation agreements with six countries during the fourth Ministerial Roundtable, the flagship opening meeting of the Future Minerals Forum. (SPA)

Saudi Arabia Inks Mining Agreements with Several Govts at Fourth Future Minerals Forum

The Saudi Ministry of Industry and Mineral Resources signed on Tuesday a series of memoranda of understanding (MoUs) and cooperation agreements with six…

Business Former US President and Republican presidential candidate Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024. (AFP)

Davos to Welcome Trump Virtually as World Leaders Await New US President’s Policies

Donald Trump will mark his return to the global stage with a virtual World Economic Forum appearance in Davos next week, as world leaders await details of the…

Business FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford//File Photo

Oil Prices Slip as Russia Sanctions Stay in Focus

Oil prices slipped on Tuesday from the previous day's four-month highs but the market remained supported by continuing focus on the impact of new US sanctions…

Asharq Al Awsat
Business Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold prices rose on Tuesday, helped by a softer US dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could…

Asharq Al Awsat
Business Windmill turbines stand in Masdar's wind farm on Sir Bani Yas Island, in Abu Dhabi, United Arab Emirates, September 28, 2023. REUTERS/Amr Alfiky/File photo

UAE's Masdar Launches Facility to Produce 1GW of Uninterrupted Renewable Energy

UAE state-owned renewables firm Masdar has launched a renewable energy facility that will produce 1 gigawatt of uninterrupted clean power and that is expected…

Asharq Al Awsat
Business The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM

UAE, Malaysia Sign Comprehensive Economic Partnership Agreement

The United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony witnessed by President Sheikh Mohamed…

Asharq Al Awsat (Abu Dhabi)
Business The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)

Saudi Arabia: Over 16% Growth in Mortgage Financing for Housing Support Beneficiaries in 2024

The Saudi Real Estate Development Fund (REDF) announced on Monday a 16.4% increase in mortgage financing for beneficiaries of housing support programs in 2024,…

Asharq Al Awsat (Riyadh)
Business Prince Abdulaziz bin Salman speaking at the forum (X)

Abdulaziz bin Salman: Saudi Arabia Plans to Enrich, Sell Uranium

Saudi Arabia is actively pursuing investments in mineral resources, including uranium enrichment and sales, as part of its broader strategy to achieve 130…

Asharq Al Awsat (Dammam)
Business Logo of British Petrol BP is seen at a petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper Pempel/File Photo

BP Warns of 4th Quarter Profit Hit as Production and Refining Margins Fall

BP warned on Tuesday that lower production, weak refining margins and sluggish trading would see its profit in the fourth quarter of 2024 fall from the…

Asharq Al Awsat (London)
Business A bank teller counts Syrian pound banknotes at the Syrian Central Bank in Damascus, Syria, 09 January 2025. (EPA)

Syria’s New Central Bank Chief Vows to Boost Bank Independence Post Assad

Syria's new central bank governor, Maysaa Sabreen, said she wants to boost the institution's independence over monetary policy decisions, in what would be a…

Business  People shop around for prosperity decorations for the upcoming Chinese Lunar New Year, at a New Year Bazaar in Beijing, Monday, Jan. 13, 2025. (AP)

China Flags More Policy Measures to Bolster Yuan

China announced more tools to support its weak currency on Monday, unveiling plans to park more dollars in Hong Kong to bolster the yuan and to improve capital…

Business Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)

Saudi-Japanese Business Council Discusses Investment Opportunities

The Saudi-Japanese business council convened in Riyadh on Sunday to explore avenues for strengthening the strategic partnership between the two nations across…

Business Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, accompanied by several leaders from the petroleum sector, inspect the development and production of natural gas from the West Nile Delta offshore fields in the Mediterranean Sea (Ministry of Petroleum and Mineral Resources) 

Egypt: BP Completes 2 New Gas Wells in Raven Field

British Petroleum (BP) has successfully completed two additional gas wells in the Raven Field, part of its significant West Nile Delta (WND) development off…

Asharq Al Awsat (Cairo)
Business Ali Al-Mutairi, general supervisor of the conference (Asharq Al-Awsat)

Unprecedented Participation Expected at International Mining Conference in Riyadh on Tuesday

Riyadh is preparing to host the fourth edition of the International Mining Conference on Tuesday under the patronage of King of Saudi Arabia Salman bin…

Ayat Nur (Riyadh)
Business FILE PHOTO: The logos of Nippon Steel Corp. are displayed at the company headquarters in Tokyo, Japan March 18, 2019. REUTERS/Yuka Obayashi/File Photo

Biden Admin Delays Enforcement of Order Blocking Nippon Steel, US Steel Deal

The Biden administration will hold off enforcing a requirement laid out in an executive order this month that Nippon Steel abandon its $14.9 billion bid for US…

Asharq Al Awsat
Business Brazilian President Luiz Inacio Lula da Silva attends an event marking two years since the alleged coup attempt when supporters of former President Jair Bolsonaro invaded government buildings and called for a military intervention, in Brasilia, Brazil, Wednesday, Jan. 8, 2025. (AP)

Brazil President Signs Law Authorizing Offshore Wind Development

Brazilian President Luiz Inacio Lula da Silva has signed into law a bill authorizing the development of offshore wind farms, a statement said late on Friday, a…

Business Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. (SPA)

Saudi Arabia Allocates SAR10 Billion to Activate Standard Incentives Program for Industrial Sector

Saudi Arabia announced on Saturday the allocation of SAR10 billion to activate the Standard Incentives Program for the industrial sector, following approval by…