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 Kuwaiti businessman and former Oil Minister Dr. Saad Al-Barrak. Asharq Al-Awsat

Al-Barrak Says he Invested in Advanced Technologies, Gulf Integration is Crucial

Kuwaiti businessman Dr. Saad Al-Barrak hopes to contribute to the development of innovative technologies that provide solutions and have a significant impact…

Mosaed al-Zayani (Kuwait)
Business World Bank Raises China's GDP Forecast for 2024, 2025

World Bank Raises China's GDP Forecast for 2024, 2025

The World Bank raised on Thursday its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along…

Asharq Al Awsat
Business FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo

Russia is Using Bitcoin, Digital Currencies in Foreign Trade

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order…

Asharq Al Awsat
Business xAI logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration

Saudi Arabia’s Kingdom Holding Buys $400 Million Stake in xAI

Kingdom Holding Company (KHC) said on Wednesday it has acquired a key stake in xAI Corporation, an artificial intelligence company founded by US billionaire…

Asharq Al Awsat (Riyadh)
Business Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat

Riyadh, Tokyo Seek to Expand Cooperation in Clean Energy Technology and Green Hydrogen

Tokyo has said it was willing to expand cooperation with Riyadh in areas such as new sensitive technologies, clean energy technology, green hydrogen and…

Fatehelrahman Yousif (Tokyo)
Business Saudi Energy Minister Prince Abdulaziz bin Salman during his tour to several factories specialized in producing components for the sector in the Riyadh Industrial City on Wednesday (Asharq Al-Awsat)

Saudi Energy Minister Inaugurates New Factories to Enhance Localization of Sector

Saudi Energy Minister Prince Abdulaziz bin Salman inaugurated on Wednesday two new factories specialized in energy and toured several factories specialized in…

Asharq Al Awsat (Riyadh)
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 Edges Higher in Holiday Trade; Eyes on Fed's 2025 Plan

Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the US Federal Reserve's interest rate strategy and anticipated tariff…

Asharq Al Awsat
Business  Pedestrians walk to an underground passage at Manezhnaya Square decorated for Christmas and the New Year festivities with the Historical Museum and the Kremlin Wall in the background in Moscow, Russia, Monday, Dec. 23, 2024. (AP)

Russia’s Inflation Reaches 9.5% This Year, Weekly Data Shows

Russia's inflation has reached 9.5% this year, according to new weekly data showing that the consumer price index rose by 0.33% in the week leading up to Dec…

Business A worker rides a bicycle at the Bharat Petroleum Corporation refinery in Mumbai, April 24, 2008. REUTERS/Punit Paranjpe/FILE PHOTO

Indian State Refiners May Buy Mideast Spot Oil to Replace Russian Shortfall

Indian state refiners are considering tapping the Middle East crude market as spot supply from their top supplier Russia have fallen, three refining sources…

Asharq Al Awsat
Business  A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)

China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

Efforts will continue in 2025 to stabilize and prevent further declines in China's real estate market, China Construction News reported, citing a work…

Business Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)

IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

The International Monetary Fund said on Wednesday it reached a staff-level agreement with Egypt on the fourth review under its Extended Fund Facility…

Business The acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors. WAM

UAE’s Mubadala Acquires Majority Stakes in Global Medical Supply Chain, Al Ittihad Drug

Mubadala Investment Company has acquired an 80% stake in Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS) from GlobalOne Healthcare Holding …

Asharq Al Awsat (Abu Dhabi)
Business (FILES) Syrian refugees who live in Türkiye walk with their belongings at Cilvegozu crossborder gate before entering Syria at Reyhanli district in Hatay, on December 9, 2024. (Photo by Ozan KOSE / AFP)

Turkish Delegation to Visit Syria to Discuss Energy Cooperation

A delegation from Türkiye's energy ministry will visit Syria "soon" to discuss possible energy cooperation including transmitting electricity to ease power…

Asharq Al Awsat
Business Starbucks employees, union members and supporters strike outside of a Starbucks store which is closed down due to the strike on December 23, 2024 in New York City. (Getty Images/AFP)

Starbucks Strike to Expand to over 300 US Stores on Christmas Eve, Union Says

A strike at Starbucks' US stores will expand to over 300 stores on Tuesday, with more than 5,000 workers expected to walk off the job, before the five-day work…

Business An event during Riyadh Season 2024. SPA

Saudi Entertainment Sector Continues to Attract More Visitors

The entertainment sector in Saudi Arabia continues to attract more visitors to achieve the country's target of 150 million visitors annually by 2030. The…

Asharq Al Awsat (Riyadh)
Business The Saudi-Yemeni Business Council has met in Makkah. Asharq Al-Awsat

Saudi-Yemeni Business Council Looks Forward to Contributing to Reconstruction

The Saudi-Yemeni Business Council is leading the initiative "Saudi Vision and Yemeni Development 2030," which aims to enhance economic ties between Saudi…

Asma al Ghabri (Jeddah)
Business FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil Prices Stable on Monday as Data Offsets Surplus Concerns

Oil prices stabilized on Monday after losses last week as lower-than-expected US inflation data offset investors' concerns about a supply surplus next year. …

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 Firms in Thin Trade as Investors Weigh Fed Outlook

Gold prices firmed on Monday, although trading was thin due to the holiday season and as investors looked for cues on the US Federal Reserve's monetary policy…

Asharq Al Awsat
Business Makoto Uchida, Director, Representative Executive Officer, President and CEO of Nissan Motor Corporation, Toshihiro Mibe, Director, President and Representative Executive Officer of Honda and Takao Kato, Director, Representative Executive Officer, President & CEO of Mitsubishi Motors, attend a joint press conference on their merger talks, in Tokyo, Japan, December 23, 2024. REUTERS/Kim Kyung-Hoon

Honda and Nissan Start Merger Talks in Historic Pivot

Honda and Nissan have started talks toward a potential merger, they said on Monday, a historic pivot for Japan's auto industry that underlines the threat…

Asharq Al Awsat
Business One of the projects under the Sakani program in Saudi Arabia (Asharq Al-Awsat)

$266 Mln Deal Boosts Liquidity in Saudi Housing Market

The Saudi Real Estate Refinance Company (SRC), owned by the Public Investment Fund, has signed a SAR 1 billion ($266.7 million) agreement with Bidaya Finance…

Asharq Al Awsat (Riyadh)
Business The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)

Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council, part of the Federation of Saudi Chambers, announced six initiatives to boost trade and support Yemen’s economic development…

Asma al Ghabri (Jeddah )
Business Starbucks workers hold signs as they picket during a strike in front of a Starbucks to demand collective bargaining agreements in Burbank, California on December 20, 2024. (AFP)

Starbucks Workers Expand Strike in US Cities Including New York

Starbucks workers have expanded their strike to four more US cities, including New York, the union representing over 10,000 baristas said late on Saturday. …

Business Saudi Ambassador to Japan Dr. Ghazi Binzagr. (Asharq Al-Awsat)

Riyadh and Tokyo to Launch Coordination Framework to Boost Cooperation

Saudi Arabia and Japan are close to unveiling a higher partnership council that will be headed by the countries’ leaderships in line with efforts to build a…

Fatehelrahman Yousif (Tokyo)
Business A Chinese national flag flutters on a financial street in Beijing. (Reuters)

China Mulls Draft Law to Promote Private Sector Development

Chinese lawmakers are deliberating a draft of the country's first basic law specifically focused on the development of the private sector, the country’s Xinhua…