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 People walk in a subway entrance as the sun sets outside in Beijing on December 11, 2024. (AFP)

China’s GDP Growth Expected around 5% This Year, Senior Official Says

China's economy is expected to grow by about 5% this year, the deputy director of the country's central financial and economic affairs commission said on…

Business Farmer Imad al-Sayyed holds wheat grains in a field in Deir Khabieh, Damascus suburbs, Syria June 17, 2021. (Reuters)

Kyiv Ready to Supply Food to Syria as Russia Supplies Suspended

Ukraine, a global producer and exporter of grain and oilseeds, is ready to supply food to Syria following the fall of Bashar al-Assad, Ukrainian Agriculture…

Business A pedestrian walks across Waterloo Bridge in the drizzle with the buildings of the City of London financial district behind, in London on December 13, 2024. (Photo by HENRY NICHOLLS / AFP)

UK Economy in October Suffers 1st Back-to-back Declines Since 2020

Britain's economy shrank for a second month in a row in October in the run-up to the government's first budget, the first back-to-back falls in output since…

Asharq Al Awsat (London)
Business A man counts money at a gas station in Aleppo, northern Syria (AFP)

Dardari to Asharq Al-Awsat: Syria’s Economy Lost $54 Bn in 14 Years

The United Nations has authorized its development program to start engaging with Syria's new interim government to support humanitarian efforts and kickstart…

Hala Saghbini (Riyadh)
Business The Public Investment Fund (PIF) logo

Saudi PIF Completes Acquisition of 15% Stake in Heathrow Airport

Saudi Arabia's Public Investment Fund (PIF) has announced that it completed the acquisition of a stake of approximately 15% in FGP TopCo, the holding company…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: General view of the ADNOC headquarters is seen in Abu Dhabi, United Arab Emirates, December 23, 2018. REUTERS/Hamad I Mohammed//File Photo

UAE President Okays Board of ADNOC Global Investment Arm

United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan approved a board of directors for XRG, state oil giant ADNOC's new international investment…

Asharq Al Awsat (Abu Dhabi)
Business N/A 

How Saudi Arabia Became the World’s Largest Desalinated Water Producer

Over a century ago, Saudi Arabia, with its dry desert climate, started desalinating water using the “Kandasa” machine on the shores of Jeddah. Today, it is the…

Asharq Al Awsat (Riyadh)
Business IATA Director General William Walsh (Asharq Al-Awsat)

Gulf Airlines Overcome Geopolitical Crises, Deliver Strong Performance

The global aviation industry is facing major challenges, including delays in aircraft deliveries and supply chain issues, which are affecting revenues and…

Asharq Al Awsat (Geneva)
Business An investor stands in front of a screen displaying information from the Saudi Stock Exchange (Tadawul) in Riyadh (Reuters).

Banking and Energy Sectors Bolster Saudi Market, Index Poised for Further Gains

Strong financial results and profits from the banking sector and energy companies have fueled significant gains in the Saudi stock market during recent…

Mohammed al-Mutairi (Riyadh)
Business Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold Eases on Profit-taking after Scaling over One-month Peak

Gold slipped on Thursday as investors booked profits after prices hit a more than one-month high on increased expectations of an interest rate cut by the…

Asharq Al Awsat
Business The sun sets over electric pylons along a solar farm near Weifang in eastern China's Shandong province on March 22, 2024. (AP Photo/Ng Han Guan)

US Hikes Tariffs on Imports of Chinese Solar Wafers, Polysilicon and Tungsten Products

The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses. The…

Asharq Al Awsat
Business A model of oil rigs in front of the OPEC logo (Reuters)

OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

OPEC lowered its forecasts for 2024 and 2025 global oil demand growth on Wednesday in the fifth consecutive cut to the producers group's monthly report. The…

Asharq Al Awsat
Business FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo

Chinese Authorities Consider Weaker Yuan as Trump Trade Risks Loom

China's top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher US trade tariffs as Donald Trump returns to…

Asharq Al Awsat
Business Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su//File Photo

Gold Hovers near Two-week High; US Inflation Data in Focus

Gold prices remained near a two-week peak touched earlier on Wednesday, supported by escalating geopolitical tensions and expectations of another rate cut by…

Asharq Al Awsat
Business Assistant Director-General of FAO Abdul Hakim Al-Waer speaks to Asharq Al-Awsat (Photo: Turki Al-Aqili)

FAO: Funding Shortages, Conflicts Threaten Food Security in the Middle East

The Middle East faces significant challenges in securing food supplies, including a severe lack of funding for agricultural projects and being home to eight of…

Asharq Al Awsat (Riyadh)
Business Opening of Desert Rock Resort in the Red Sea (Asharq Al-Awsat)

PIF Continues to Explore Opportunities in Saudi Tourism

The Public Investment Fund (PIF) is actively exploring opportunities in Saudi Arabia’s tourism and hospitality sector. This effort follows the launch of…

Bandar al-Mosalam (Riyadh)
Business  Saudi Aramco logo (AFP)

Fitch Affirms Saudi Aramco at 'A+' with Stable Outlook

Fitch Ratings on Tuesday affirmed Saudi Aramco’s long-term issuer default ratings at “A+” for both foreign- and local-currency ratings, with a stable outlook…

Asharq Al Awsat
Business People shop in a street in Damascus, on December 10, 2024. (Photo by Bakr AL KASSEM / AFP)

Syria’s Oil Sector after Assad’s Fall

The fall of Syrian President Bashar al-Assad over the weekend raises the question of what the future holds for the vital oil sector in the country, which has…

Asharq Al Awsat (London)
Business IPI is a key economic indicator that measures changes in the volume of industrial production based on data collected monthly through the industrial production survey

Saudi GASTAT: Industrial Production Index Increased by 5% in October

Saudi Arabia’s General Authority for Statistics (GASTAT) released on Tuesday its Industrial Production Index report for October 2024, saying IPI increased by 5…

Asharq Al Awsat (Riyadh)
Business Discussions focused on opportunities in key sectors like financial services, clean energy, healthcare, innovation, education, and mega-projects. SPA

Saudi Arabia, UK Discuss Plans to Boost Economic Ties

Saudi Arabia and the United Kingdom have outlined plans to boost economic relations and investment during a high-level business roundtable held in Riyadh. …

Asharq Al Awsat (Riyadh)
Business A man rides a bicycle past a giant screen showing news footages of Chinese President Xi Jinping attending a Chinese Communist Party politburo meeting, in Beijing, China December 9, 2024. REUTERS/Tingshu Wang

China's Xi Warns 'No Winners' in Trade War with US

Chinese President Xi Jinping warned Tuesday that there would be "no winners" in a trade war with the United States and vowed the country would hit its growth…

Asharq Al Awsat (Beijing)
Business Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su//File Photo

Gold Extends Gains as China Pledges More Stimulus

Gold prices extended gains on Tuesday, buoyed by top consumer China's pledge to ramp up policy stimulus to help spur economic growth, with investors awaiting…

Asharq Al Awsat
Business A defaced portrait of late Syrian President Hafez al-Assad stands above a ransacked government security facility, in Damascus, on December 8, 2024. (AFP)

Turkish Construction Companies Rally on Expectations of Syria Rebuild Boost

Shares in Turkish construction and cement companies surged on Monday, buoyed by expectations that they will benefit from rebuilding in Syria after the…

Business The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, US, October 16, 2019. REUTERS/Mike Segar/File Photo

Apple to Expand Significantly in Saudi Arabia

Apple has unveiled plans for a major expansion in Saudi Arabia, including the launch of an online store in 2025. The company has also outlined ambitions to…

Mosaed al-Zayani (Riyadh)