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 (FILES) Jay Clayton testifies during a Senate Intelligence Committee hearing on his nomination to be Director of National Intelligence, on Capitol Hill in Washington, DC, on July 15, 2026. (Photo by Ken Cedeno / AFP)

Trump Names Intelligence Chief Clayton as AI Czar, to Head Task Force

US President Donald Trump has appointed Director of National Intelligence Jay Clayton as the administration's AI czar, the Wall Street Journal reported on…

Asharq Al Awsat (Washington)
Business The King Abdullah Financial District (KAFD)

From Absorbing the Shock to Recovery: How Is Saudi Arabia Building a More Resilient Economy?

Economic strength is no longer measured solely by GDP growth rates, the size of foreign reserves, or the ability to attract investment during prosperous times…

Hala Saghbini (Riyadh)
Business  A drone view shows vessels near the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026. (Reuters)

Iraq Says It Transported 2 Million Barrels of Crude Through Strait of Hormuz

Iraq's state-owned Oil Tanker Company transported 2 million barrels of Iraqi crude aboard a very large crude carrier (VLCC) through the Strait of Hormuz, in…

Business US Trade Representative Jamison Greer speaks on the second day of the G20 Trade Ministerial Meeting in Milwaukee, Wisconsin - October 1 (AFP)

'Handful' of G20 Countries Reject US Stance on Excess Industrial Capacity

A "handful" of Group of 20 trade ministers rejected US calls to curb excess industrial capacity and "non-market" policies, the US Trade Representative's office…

Asharq Al Awsat
Business (FILES) US Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, on March 18, 2026. (Photo by Brendan SMIALOWSKI / AFP)

DOJ Will Not Reopen Criminal Probe into Fed's Powell

The US Justice Department is not reopening a criminal probe into former Federal Reserve Chair Jerome Powell for cost overruns related to the central bank's…

Asharq Al Awsat
Business FILE PHOTO: A coil of copper rod sits on the production line for copper flat wire at the Wellascent factory in Ganzhou, Jiangxi province, China, August 14, 2025. REUTERS/Florence Lo/File Photo

Copper Crawls Higher on Softer Dollar and Supply Issues

Copper prices edged higher on Friday, supported by a weaker dollar and supply issues, but gains were modest due to worries about high oil prices hitting demand…

Asharq Al Awsat
Business FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/File Photo

Eurozone Inflation Hits Three-year High at 3.8% in September

Eurozone inflation jumped to 3.8 percent in September, the highest level in three years, as the war in the Middle East fueled a surge in energy costs, official…

Asharq Al Awsat
Business A street food vendor pushes a cart along the road in Ho Chi Minh City on October 2, 2026. (Photo by Nhac NGUYEN / AFP)

World Food Prices Near Four-year High in September

World food prices rose in September to their highest in nearly four years as logistics disruptions and weather concerns affected crop markets, the United…

Asharq Al Awsat
Business The logo of Airbus is picuted at the Airbus facility in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. REUTERS/Stephane Mahe

Airbus Delivered Around 72 Aircraft in September

Airbus delivered around 72 aircraft in September, almost matching 73 a year earlier, industry sources said. Airbus declined comment on the provisional…

Asharq Al Awsat
Business Saudi Arabia’s financial district (SPA) 

Saudi Arabia Heads Into 2027 With Strong Recovery, More Diverse Growth Drivers

Saudi Arabia enters 2027 with a markedly different fiscal outlook, forecasting a strong economic recovery after a contraction linked to lower oil production,…

Abeer Hommadi
Business FILE -Diesel prices are displayed at a gas station Thursday, Sept. 10, 2026, in Carlsbad, Calif. (AP Photo/Gregory Bull, File)

EU Nations to Hold Emergency Meeting on Soaring Diesel Prices amid US Pressure

EU nations will meet Friday, aiming to develop a unified response to soaring diesel prices, a day after the US called on its European allies to release…

Asharq Al Awsat
Business People walk along the Corniche Al-Manara seafront promenade on the coast of the Mediterranean Sea as the sun sets in Beirut, Lebanon, 30 September 2026. (EPA)

IMF Says Lebanon Needs Key Reforms for Program

Lebanon must push through a number of key economic and banking sector reforms to secure a new International Monetary Fund program, the Fund said on Thursday. …

Business Riyadh Air’s first two Dreamliners at King Khalid International Airport in Riyadh, June 5, 2026. (SPA)

Riyadh Air Adds Two Flights to London Heathrow, Increases Service to Nine Weekly

Riyadh Air, Saudi Arabia’s national carrier, announced on Thursday that it will operate two additional flights between Riyadh and London Heathrow, expanding…

Business Signing of a cooperation agreement between the Federation of Saudi Chambers and Italy's national promotional and development institution (X)

Italian Official to Asharq Al-Awsat: We Will Work with Saudi Arabia to Enter Third Markets

Riyadh and Rome are moving their economic relations toward a more practical track, with plans for joint cooperation in third markets, alongside expanding…

Fatehelrahman Yousif (Riyadh)
Business The Klesch oil refinery, formerly BP, produces petrol, diesel, and jet fuel in Gelsenkirchen, Germany, one day before the German government starts a fuel tax discount, Wednesday, Sept. 30, 2026. (AP Photo/Martin Meissner)

Oil Prices Rise 2% as China Suspends Fuel Exports

Oil prices rose around 2% on Thursday after China suspended oil products exports, potentially tightening fuel markets already coping with supply shortages…

Asharq Al Awsat
Business US President Donald Trump (L, sitting) makes an announcement in the Oval Office of the White House in Washington, DC, USA, 30 September 2026. EPA/YURI GRIPAS / POOL

Trump Unveils $200 Billion South Korean Investment in US; Seoul Hedges on Alaska Pipeline

US President Donald Trump unveiled plans on Wednesday for South Korea to invest some $200 billion in US projects, but Seoul quickly suggested one key element,…

Asharq Al Awsat (Washington)
Business A financial data screen in the dealing room of Hana Bank shows the Korea Composite Stock Price Index (KOSPI) after South Korean shares closed higher in Seoul, South Korea, 23 September 2026. EPA/YONHAP SOUTH KOREA OUT

Asian Shares Mostly Rise amid Market Optimism about AI, Despite Iran Worries

Asian shares mostly rose in early Thursday trading amid investor interest in technology-related issues, despite ongoing worries about the war in Iran. Japan…

Asharq Al Awsat
Business UK gold bullion bars are stacked at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold Firms as Softer US Inflation Dims October Fed Hike Bets

Gold rose on Thursday after a softer-than-expected US inflation report tempered expectations for a Federal Reserve rate hike this month, with markets looking…

Asharq Al Awsat
Business  A semi drives past a sign advertising the price of diesel along Interstate 5 in Williams, California, US, September 28, 2026. (Reuters)

Trump Says He Is Still Considering Diesel Export Ban

US President Donald Trump said on Wednesday that he has conversations about banning diesel exports "every day" as the White House races to curb soaring energy…

Business The Saudi finance minister at the 2026 Budget Forum (File photo — Asharq Al-Awsat)

Saudi Arabia Earmarks $371 Bn in Spending for 2027 Budget

Saudi Arabia projects spending of 1.392 trillion riyals ($371.2 billion) in 2027 against revenue of 1.202 trillion riyals ($320.5 billion), leaving a budget…

Asharq Al Awsat (Riyadh)
Business A woman shops at a retail and grocery center in Saudi Arabia (SPA)

Digital Spending Is Reshaping Saudi Consumer Habits

Saudi consumers are rapidly reducing their reliance on cash as digital payments expand across everyday sectors, from grocery shopping to entertainment and…

Dana Aldrees (Riyadh)
Business The British capital, London (Reuters)

UK Economic Growth Revised Up to 0.5 Percent in Q2

Britain's economy grew more than initially estimated in the second quarter, revised data showed Wednesday, offering a boost to Prime Minister Andy Burnham…

Asharq Al Awsat
Business FILE -Diesel prices are displayed at a gas station Thursday, Sept. 10, 2026, in Carlsbad, Calif. (AP Photo/Gregory Bull, File)

Russia Extends Diesel Export Ban until End of October

Russia has extended its ban on diesel exports for fuel producers until the end of October, the government said on Wednesday, adding further strain to a global…

Asharq Al Awsat
Business A panel discussion at the forum (Asharq Al-Awsat)

HUMAIN: Saudi Arabia Allocates 14 GW for AI Factories

Saudi Arabia is betting on abundant energy supplies and expanding digital infrastructure to build an integrated artificial intelligence ecosystem, allocating…

Sara bin Shamran (Riyadh)