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 Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold in Holding Pattern as Markets Await US Data

Gold prices slipped in thin trade on Monday, as markets awaited next week's US economic data and the potential impact of President-elect Donald Trump's return…

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

Oil Drifts Higher in Sparse Holiday Trade

Oil prices edged up on Monday in thin holiday trade at the end of the year, as traders awaited more Chinese and US economic data later this week to assess…

Asharq Al Awsat
Business A group photo of OAPEC members. (SPA)

Transforming OAPEC into the Arab Energy Organization: A Step Toward Enhanced Collective Action

The transformation of the Organization of Arab Petroleum Exporting Countries (OAPEC) into the Arab Energy Organization marks a strategic step toward…

Bandar al-Mosalam (Riyadh)
Business The value of the UAE's real GDP in the first half of 2024  recorded a notable increase of 3.6 percent

UAE's GDP Grew by 3.6% in First Half of 2024

Minister of Economy Abdulla bin Touq Al Marri has said that the preliminary estimates of the UAE's GDP in the first half of 2024, issued by the Federal…

Asharq Al Awsat (Abu Dhabi)
Business A pedestrian walks past an electronic board showing the closing numbers on the Tokyo Stock Exchange, with graphs illustrating the daily movement (L) and for the last 12 months (R), along a street in central Tokyo on December 30, 2024. (AFP)

Japan’s Nikkei Retreats from 5-Month Peak, Set to Rise Nearly 20% for Year

Japan's Nikkei share average retreated from the previous session's five-month high on Monday, the last trading day in 2024, as investors locked in profits on a…

Business People walk in a park in Beijing, China, 29 December 2024. EPA/JESSICA LEE

China Urges More Aid for People in Need as Economic Woes Persist

The Chinese government urged local officials to provide more financial relief or step up one-time allowances to people in need ahead of major holidays over the…

Asharq Al Awsat
Business FILE PHOTO: A drone view shows a combine harvesting wheat in a field in the Rostov Region, Russia July 10, 2024. REUTERS/Sergey Pivovarov//File Photo

Russian Wheat Export Prices Rise

Russian wheat export prices rose last week, tracking global prices, with analysts expecting weak export activity due to the upcoming long New Year holiday. …

Asharq Al Awsat
Business FILE PHOTO: Newly appointed Minister for Economy, Finance and Industry Eric Lombard departs following a handover ceremony at the Bercy Economy and Finance Ministry in Paris, France, December 23, 2024.  REUTERS/Saboor Abdul/File Photo

New French Finance Minister Eyes 2025 Deficit Slightly Above 5%

France's delayed 2025 budget bill will target a deficit of "slightly above 5%" in order to protect growth, the country's new finance minister said in a…

Asharq Al Awsat
Business People walk along a bridge in Beijing, China, 28 December 2024.  EPA/JESSICA LEE

China to Cut Import Tariffs on Some Recycled Copper, Aluminium Raw Materials

China will reduce import tariffs on ethane and certain recycled copper and aluminium raw materials from next year, the government said on Saturday. The…

Asharq Al Awsat (Beijing)
Business The Statistical Center for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) logo

Public Finance of GCC Countries Witnesses Significant Financial Surplus

Data issued by the Statistical Center for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicate that the financial risks of the GCC…

Asharq Al Awsat (Riyadh)
Business Tunisian Prime Minister Kamel Madouri speaks during the 5th ordinary session of the Specialized Technical Committee No. 8 of the African Union in Tunis, Tunisia, 20 December 2024. EPA/MOHAMED MESSARA

Tunisia Central Bank Keeps Key Rate at 8%

Tunisian central bank said on Saturday it had left its benchmark interest rate unchanged at 8%, adding that borrowing costs were consistent with the inflation…

Asharq Al Awsat (Tunis)
Business An Egyptian navy vessel see in the Suez Canal, March 30, 2021. (AFP/Getty Images)

Egypt Completes Trial Run of New Suez Canal Channel Extension

Egypt said on Saturday it had successfully tested a new 10 km channel near the southern end of the Suez Canal. The Suez Canal Authority said in a statement…

Business Turkish President Recep Tayyip Erdogan speaks during a plenary session at the COP29 UN Climate Summit, Nov. 12, 2024, in Baku, Azerbaijan. (AP)

Türkiye's Erdogan Expects More Interest Rate Cuts in 2025

Türkiye's President Recep Tayyip Erdogan said on Saturday that there would be more interest rate cuts in 2025 after the central bank cut its key rate by 250…

Business Gazprom logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. (Reuters)

Russia’s Pipeline Gas Exports to Europe up 13% in 2024, Calculations Show

Pipeline gas exports by Russian energy giant Gazprom to Europe increased by 13% in 2024 to around 32 billion cubic meters (bcm), Reuters calculations showed on…

Business Protesters take part in a rally calling for the ouster of South Korea's impeached President Yoon Suk Yeol in front of the Gwanghwamun Gate of Gyeongbokgung Palace in Seoul on December 28, 2024. (Yonhap/AFP)

Political Turmoil Shakes South Korea’s Economy

After South Korea's president and his replacement were both deposed over a failed bid to impose martial law, deepening political turmoil is threatening the…

Business An employee works at a carbon fibre production line inside a factory in Lianyungang, Jiangsu province, China October 27, 2018. REUTERS/Stringer

China's Industrial Profits Narrow Decline but 2024 Likely Worst Year in Decades

China's industrial profits fell at a slower clip in November, official data showed on Friday, but the annual decline in earnings this year is expected to be…

Asharq Al Awsat
Business Saudi Arabia Provides $500 Million in Financial Support to Yemen

Saudi Arabia Provides $500 Million in Financial Support to Yemen

The Kingdom of Saudi Arabia has given new economic support to Yemen, worth $500 million, to strengthen the Yemeni government's budget and bolster the Central…

Asharq Al Awsat
Business A concrete gravity-based structure (GBS) of Arctic LNG 2 joint venture is seen under construction in a dry dock of the LNG Construction center near the settlement of Belokamenka, Murmansk region, Russia July 26, 2022. (Reuters)

Russia’s First Ice-Class LNG Carrier Enters Sea Trials, Data Shows

The first Russian-built ice-class liquefied natural gas (LNG) carrier has entered sea trials, LSEG data showed on Friday, as part of Russia's efforts to raise…

Business A girl sells plastic items to people in the Kadikoy district in Istanbul, Türkiye, Saturday, Dec. 7, 2024. (AP Photo/Francisco Seco)

Türkiye's Central Bank Lowers Key Interest Rate to 47.5%

Türkiye’s central bank lowered its key interest rate by 2.5 percentage points to 47.5% on Thursday, carrying out its first rate cut in nearly two years as it…

Asharq Al Awsat (Ankara)
Business The total revenue of non-profit sector organizations in Saudi Arabia marked a 33% increase. SPA

Non-Profit Sector Revenue in Saudi Arabia Reaches $14.5 Billion in 2023

Saudi Arabia’s General Authority for Statistics (GASTAT) has said that the total revenue of non-profit sector organizations in the Kingdom amounted to SAR54.4…

Asharq Al Awsat (Riyadh)
Business Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA

Logistics Zones Spread in Saudi Arabia to Consolidate World Trade

Data has shown a spread of logistics areas in Saudi Arabia, bringing the total number of existing centers to 22 in the past year, a 267% increase compared to…

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

Oil Prices Ease as Markets Weigh China Stimulus Hopes

Oil edged lower on Thursday in light holiday trade as the dollar's strength offset hopes for additional fiscal stimulus in China, the world's biggest oil…

Asharq Al Awsat
Business Saudi Ministry of Tourism Building (File Photo AAWSAT AR)

Saudi Tourism Authority Signs MoU to Boost International Marketing Strategies

The Saudi Tourism Authority (STA) has signed a memorandum of understanding (MoU) with a national marketing services company to strengthen its efforts to reach…

Asharq Al Awsat
Business A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt Central Bank Keeps Key Interest Rates Unchanged

Egypt's central bank kept its key interest rates unchanged on Thursday, it said in a statement. The overnight lending rate remained at 28.25%, while the…

Asharq Al Awsat (Cairo)