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 A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan…

Asharq Al Awsat
Business Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days. The…

Asharq Al Awsat
Business A money changer conducts a transaction in US dollars and Syrian pounds for a client on a street in Damascus (AFP)

The Future of Revenues in Syria: Challenges and Opportunities for the Interim Government

Syria faces significant challenges as discussions intensify about the post-Bashar al-Assad era, particularly in securing the necessary revenues for the Syrian…

Mosaed al-Zayani (Riyadh)
Business FILE PHOTO: A Honda logo is seen during the New York International Auto Show, in Manhattan, New York City, US, April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo/File Photo

Honda and Nissan Reportedly Consider Mutual Production of Vehicles

Honda and Nissan are considering producing vehicles in one another's factories as part of their plan to deepen ties and potentially merge, Japan's Kyodo news…

Asharq Al Awsat
Business People skate at an ice rink installed at the Red Square decorated for the New Year and Christmas festivities, with the St. Basil's Cathedral, left, and the Kremlin, right, in the background in Moscow, Russia, Friday, Dec. 20, 2024. (AP Photo/Alexander Zemlianichenko)

Russia's Central Bank Holds Off on Interest Rate Hike

Russia's central bank has left its benchmark interest rate at 21%, holding off on further increases as it struggles to snuff out inflation fueled by the…

Asharq Al Awsat
Business Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)

Saudi Commerce Minister Heads Delegation to Discuss Emerging Trends in Digital Trade Law in Austria

Saudi Minister of Commerce and National Competitiveness Center (NCC) Chairman of the Board of Directors Majid Al-Kassabi participated in the high-level…

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 Set for Weekly Drop; Traders Await US Inflation Data

Gold prices rose on Friday, but were set for a weekly decline after the Federal Reserve signalled a slowdown in rate cuts next year, while focus shifted to a…

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 Falls on Demand Growth Concerns, Robust Dollar

Oil prices fell on Friday on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the…

Asharq Al Awsat
Business Bahrain’s King Hamad bin Isa Al Khalifa during the inauguration of the Bapco Modernization Project (BMP). Photo: BNA

Bahrain Inaugurates Bapco Refinery’s Modernization Project

Bahrain’s King Hamad bin Isa Al Khalifa has inaugurated the Bapco Modernization Project (BMP), which stands as the largest strategic undertaking in the Kingdom…

Asharq Al Awsat (Manama)
Business The metro line will span 30 km and include 14 stations

Dubai Awards $5.5 Bln Metro Line Project to Consortium

The Dubai Roads and Transport Authority (RTA) awarded on Thursday a 20.5 billion dirham ($5.5 billion) contract for the Dubai Metro Blue Line project to a…

Asharq Al Awsat (Dubai)
Business The agreement will accelerate the development and deployment of cutting-edge construction automation technology in Saudi Arabia. SPA

NEOM, Samsung C&T Commit to World's Largest Deployment of Rebar Construction Automation Technology

NEOM, the sustainable development taking shape in the northwest of Saudi Arabia, has signed a joint venture (JV) agreement with Samsung C&T Corporation to…

Asharq Al Awsat (NEOM)
Business A drone view shows al-Yarmouk Palestinian refugee camp, after Syria's Bashar al-Assad was ousted, in Damascus, Syria, December 19, 2024. REUTERS/Zohra Bensemra

IMF Says Ready to Support Syria Reconstruction when Conditions Allow

The International Monetary Fund stands ready to assist Syria's reconstruction alongside the international community, but the situation on the ground remains…

Asharq Al Awsat
Business FILE PHOTO: A sailboat passes by the Statue of Liberty in New York Harbor, in New York City, US, September 20, 2024.  REUTERS/Brendan McDermid/File Photo

US Economy Grows at 3.1% Pace in 3rd Quarter, an Upgrade from Previous Estimate

The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the…

Asharq Al Awsat
Business The Jeddah Islamic Port west of Saudi Arabia (Saudi Ports Authority)

Saudi Private Sector Exports Financed by Banks Grow 21.1%

The value of Saudi private sector exports financed by commercial banks through documentary credits (both settled and open) grew by 21.1% year-on-year, reaching…

Asharq Al Awsat (Riyadh)
Business King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

Saudi Arabia Plans to Establish Specialized Courts to Boost Investment Climate

Saudi Arabia is exploring the establishment of specialized courts to enhance its investment environment, aligning with the goals of the National Investment…

Bandar al-Mosalam (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 Bounces Back from One-month Low after Fed Jitters

Gold prices erased losses to gain on Thursday, after dipping to the lowest level in a month earlier in the day on the Federal Reserve's hint of a possible rate…

Asharq Al Awsat
Business Palestinian children wait for food at a distribution center in Deir al-Balah, Gaza Strip, Tuesday, Dec. 17, 2024. (AP Photo/Abdel Kareem Hana)

UN Launches Cairo Declaration to Address Hunger in Arab Region

Rising conflicts, inflation, and climate change have worsened the food crisis in the Arab region, reaching record levels in 2023, according to six UN agencies…

Lamia Nabil (Cairo)
Business An Iranian trader counts money in Tehran's Grand Bazaar. (Reuters)

Iran's Rial Hits a Record Low, Battered by Regional Tensions and Energy Crisis

The Iranian rial on Wednesday fell to its lowest level in history, losing more than 10% of value since Donald Trump won the US presidential election in…

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 Edges Up ahead of US Fed Rate Decision, 2025 Outlook

Oil edged up on Wednesday as a drop in US crude inventories offered some support, although investors stayed cautious ahead of a potential interest rate cut by…

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 Edges Down as Markets Eye Fed's 2025 Monetary Policy Outlook

Gold prices edged lower as the dollar held firm on Wednesday, with investors awaiting a key US Federal Reserve decision expected to shape market sentiment and…

Asharq Al Awsat
Business Mawani Adds Silmar Group's ‘MXS1’ Shipping Service to Jeddah Islamic Port

Mawani Adds Silmar Group's ‘MXS1’ Shipping Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) announced on Wednesday the addition of the Silmar Group's new cargo service "MXS1" to Jeddah Islamic Port, to help expand…

Asharq Al Awsat
Business Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer (Photo: Turki Al-Aqili)

Deputy Minister of Industry: Saudi Arabia to Establish International Frameworks for Sustainability in Mining Sector

Saudi Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer revealed that spending on exploration in Saudi Arabia’s…

Asharq Al Awsat (Riyadh)
Business FILE - Nissan Chief Executive Makoto Uchida, left, and Honda President Toshihiro Mibe attend a joint news conference in Tokyo, Friday, March 15, 2024. (Kyodo News via AP, File)

Honda, Nissan Move to Deepen Ties, Sources say, Including Possible Merger

Honda and Nissan are in talks to deepen ties, two people said on Wednesday, including a possible merger, the clearest sign yet of how Japan's once seemingly…

Asharq Al Awsat
Business FILE PHOTO: A person sits on a bench near Beijing's Central Business District (CBD), China July 14, 2024. REUTERS/Tingshu Wang/File Photo

Congress to Vote on New Restrictions on US Investment in China

Congress is set to vote in the coming days on legislation restricting US investments in China as part of a bill to fund government operations through mid-March…

Asharq Al Awsat (Washington)