Business

Saudi Arabia Offers 100% Social Insurance Debt Waiver to Businesses That Have Exited Market

Business Officials from the General Organization for Social Insurance at an earlier meeting with businessmen and businesswomen at the Riyadh Chamber (SPA)

Saudi Arabia Offers 100% Social Insurance Debt Waiver to Businesses That Have Exited Market

Saudi Arabia's General Organization for Social Insurance (GOSI) has made businesses that have ceased operations and exited the Saudi market eligible for a 100%…

Bandar al-Mosalam (Riyadh)
Business A general view shows Ras Tanura's oil production plant near Dammam in Saudi Arabia's Eastern Province (AFP)

From Aramco's Profits to State Budget Revenue: How Do Oil Proceeds Reach Government Coffers?

Saudi Aramco's financial results and Saudi Arabia's third-quarter budget performance report, released on the same day, revealed a divergence between the…

Hala Saghbini (Riyadh)
Business Representation of cryptocurrencies are seen in this illustration taken September 10, 2025. (Reuters)

Crypto Dips on Democrat Midterm Wins, Binance Hack Dents Optimism

Cryptocurrencies briefly dipped on Wednesday as Democrats won majorities in both the Senate and House in the US midterm elections, a potential blow to an…

Business A view of Riyadh, Saudi Arabia. (Getty Images file)

Saudi Non-Oil Sector Expands for Seventh Straight Month

Saudi Arabia’s non-oil private sector continued to expand in October, with business activity and output growth accelerating despite a decline in the Riyad Bank…

Asharq Al Awsat (Riyadh)
Business  A general view of Riyadh city during the early hour of evening at Riyadh, Saudi Arabia, May 28, 2025. (Reuters)

Growth in Non-Oil Revenue Bolsters Saudi Budget Resilience

Saudi Arabia’s non-oil revenue surpassed oil revenue in the third quarter of 2026 for the first time since 2020, highlighting progress in diversifying…

Bandar al-Mosalam (Riyadh)

Business Spectators gather outside Anitkabir, the mausoleum of the Turkish Republic's Founder Mustafa Kemal Ataturk, as Turkish Air force pilots of the 'Turkish Stars' fly over the mausoleum during celebrations to mark the 103th anniversary of the Republic of Türkiye in Ankara on October 29, 2026. (Photo by ADEM ALTAN / AFP)

Türkiye Appoints Muhsin Atci as Head of Capital Markets Board

Muhsin Atci has been appointed as chairman of Türkiye's Capital Markets Board (SPK), with Ersin Başar Ekmekci appointed as deputy chairman, according to a …

Asharq Al Awsat
Business Delegates stop to talk in front of the Aramco booth at the exihibtion set up during the 25th WPC the 25th WPC Energy Congress (World Petroleum Council) in Riyadh on October 12, 2026. (Photo by Fayez Nureldine / AFP)

Aramco Acquires 49% Stake in HUMAIN

Saudi Arabia’s Public Investment Fund and Aramco announced on Sunday the closing of a transaction in which Aramco, through a wholly owned subsidiary, acquires…

Asharq Al Awsat (Dhahran)
Business General view of Riyadh in the early evening hours (Reuters)

Saudi Telecom Companies' Revenues Rise to $22 Billion in 9 Months

Saudi Arabia's three listed telecom operators posted combined revenues of more than $22.2 billion (83.42 billion riyals) in the first nine months of 2026, up 3…

Mohammed al-Mutairi (Riyadh)
Business  Women shop for fashion accessories at a bazaar held in a popular shopping district in Beijing, Wednesday, Oct. 28, 2026. (AP)

China’s Factory Activity Shrinks in October, Third Contraction in Four Months

China's factory activity dropped in October, its third contraction in four months, a government survey showed on Saturday, hurt by soft demand goods at home as…

Business A Lebanese delegation, led by Prime Minister Nawaf Salam, meets with IMF Managing Director Kristalina Georgieva in Washington in September. (X)

15% Capital Requirement Complicates Restructuring of Lebanese Banks

Talks that concluded in Paris on Thursday between Lebanon’s central bank, the Banking Control Commission and representatives of Lebanese banks revealed…

Ali Zeineddine (Beirut)
Business ExxonMobil said its refinery in Baytown, Texas is one of the plants being targeted to boost supply of petroleum products. Brandon Bell / GETTY IMAGES NORTH AMERICA/AFP/File

US Oil Companies Aim to Squeeze More Out of Refineries

US oil companies are investing to squeeze out more fuel from refineries and bringing shuttered plants back online in response to conflicts in Russia and…

Asharq Al Awsat
Business Representations of cryptocurrencies are seen in front of displayed Binance logo in this illustration taken November 10, 2022. (Reuters)

Crypto Platform Binance Confirms ‘Complex’ $6.3 Bn Hack

Cryptocurrency platform Binance said Friday it was working to resolve a "complex attack" that hit around $6.3 billion in funds, with about half that amount…

Business A sign of TotalEnergies on a fuel station in Paris, France on October 9, 2022. (AFP)

TotalEnergies to Cut Diesel Prices to €2.15 per Liter at 705 French Stations

TotalEnergies said on Friday it will cut diesel prices to €2.15 ($2.40) a liter at 705 French stations from ‌Saturday, October ‌31. The price &zwnj…

Business People walk on a small street that leads to the historical Galata Tower, Istanbul, Türkiye, April 25, 2025. (Reuters)

Türkiye’s Q3 Tourism Revenues Rise 5%, Minister Sees Full-Year Topping $65 Billion

Türkiye’s tourism revenues rose 5% year-on-year to $25.53 billion in the third quarter, with revenues in the first nine months increasing 2.4% to $51.29…

Business An illuminated BP logo is seen at a petrol station in Chester-le-Street, Durham, Britain September 23, 2021. REUTERS/Lee Smith//File Photo

Taxes and High Oil Prices are Set to Spur More UK Energy Deals

Tax advantages and high energy prices will drive further consolidation in Britain's North Sea oil and gas fields after a flurry of deals this year, 11 industry…

Asharq Al Awsat
Business A pedestrian walks past Japan's Seven & i’s 7-Eleven convenience store in Tokyo, Japan August 19, 2024. (Reuters)

Japan’s Beleaguered Shoppers Are a Worry for Convenience Stores and the Economy

Kana Sekiya, 43, used to shop near a train ‌station in Tokyo on her way back home from work. Now she drives more than 30 minutes on weekends to a discount…

Business Ingots of 99.99 percent pure gold are placed in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. (Reuters)

Gold Slips as Higher Oil, US Inflation Data Bolster Fed Hike Bets

Gold prices slipped on Friday as higher oil prices and robust US inflation data strengthened the case for another Federal Reserve interest rate hike later this…

Asharq Al Awsat
Business Central Bank of Iraq (INA)

IMF Says Engaging with Iraq on Preparing New Bailout Program

The International Monetary Fund on Thursday said it was engaging with Iraqi authorities as it prepares a new bailout program for the country, whose economy has…

Asharq Al Awsat
Business Iraq's Central Bank Governor chairs a meeting on Thursday (Iraqi News Agency)

Iraq's Central Bank: Exchange Rate Gap Narrows to 9%, No New Currency Being Printed

Iraq's Central Bank Governor Nizar Nasser Hussein announced Thursday that the gap between the dinar's official exchange rate and its parallel-market rate…

Asharq Al Awsat
Business Men ride the Riyadh Metro heading to King Saud University Station in Riyadh (AFP)

Riyadh Metro Opens New Horizons for Commercial Real Estate Investment

Riyadh's public transport network is increasingly becoming a factor in real estate investors' calculations, with Saudi Arabia's rail services recording more…

Sara bin Shamran (Riyadh)
Business FILED - 05 February 2026, Hesse, Frankfurt/M.: FILE PHOTO - Christine Lagarde speaks at the ECB press conference. Photo: Florian Wiegand/dpa

ECB President Lagarde Resigns after Months of Speculation

European Central Bank President Christine Lagarde announced her resignation on Thursday, ending months of speculation about her future at a complex juncture…

Asharq Al Awsat (London)
Business Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz met in Riyadh with Kuwaiti Minister of Foreign Affairs Sheikh Jarrah Jaber Al-Ahmad Al-Sabah. SPA

Saudi Arabia, Kuwait Discuss Ways to Deepen Cooperation in Energy and Industry

Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz met in Riyadh with Kuwaiti Minister of…

Asharq Al Awsat (Riyadh)
Business (FILES) A sign of TotalEnergies on a fuel station in Paris, France on October 9, 2022. (Photo by JULIEN DE ROSA / AFP)

TotalEnergies Profit Hits Record on High Oil Prices

French oil and gas giant Total Energies said Thursday that its net profit hit a new record in the third quarter as the war in the Middle East pushed up…

Asharq Al Awsat (Paris)
Business Dr. Samir J. Serhan, Chief Executive Officer of Acwa (left), and R. Blair Thomas, Chief Executive Officer of EIG (right)

Acwa, EIG Announce Strategic Partnership to Invest in US Power Infrastructure

Saudi Arabia’s Acwa and EIG said Thursday they have entered into definitive agreements to establish Plenum Power, a strategic partnership focused on investment…

Asharq Al Awsat (Riyadh)
Business A Saudi Ceer car (Reuters)

King Salman Automotive Cluster Targets Localized Manufacturing and Greater Sector Contribution

In King Abdullah Economic City (KAEC) on Saudi Arabia's Red Sea coast, a new industrial hub is taking shape with the goal of moving the Kingdom's automotive…

Abeer Hommadi (Riyadh)
Business A salesman presents gold bars at a jewellery shop inside the Gold Market at the Old Souk in Dubai EPA

Gold Slips as Markets Assess Fed Signals, Await US Inflation Data

Gold prices fell on Thursday as investors assessed signals from the Federal Reserve and Chair Kevin Warsh after policymakers left interest rates unchanged,…

Asharq Al Awsat
Business FILE PHOTO: A general view shows an oil rig used in drilling at the Zubair oilfield in Basra, Iraq, July 5, 2022. REUTERS/Essam Al-Sudani/File Photo

Oil Prices Fall as Peace Hopes Offset Fears of Growing Middle East Conflict

Oil prices fell on Thursday, paring gains made a day earlier, as hopes for peace talks took the edge off renewed concerns over Middle East supply disruptions…

Asharq Al Awsat
Business A meeting between a delegation from the Federation of Saudi Chambers and officials from the Asharqia Chamber (Asharqia Chamber)

Saudi Public-Private Partnership Identifies 20 Challenges to Improving Business Environment

Saudi Arabia's private sector has identified 20 obstacles to implementing the Kingdom's new commercial registration law, Asharq Al-Awsat has learned,…

Bandar al-Mosalam (Riyadh)
Business A scene from the signing of investment agreements in Oman's economic zones, free zones and industrial cities (Oman News Agency)

Oman Signs 28 Investment Agreements Worth $790 Million

Oman signed 28 investment agreements worth more than 304 million Omani rials ($790 million) on Wednesday to develop industrial, food production, logistics and…

Asharq Al Awsat (Muscat )