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 The Argent Aster oil tanker passes the downtown Vancouver skyline as it travels on the harbour into port, on Tuesday, Sept. 29, 2026. (Darryl Dyck/The Canadian Press via AP)

Oil Gains after Trump Denies He Is Willing to Ease Sanctions on Iran

Oil prices rose on Wednesday after US President Donald Trump denied he would be willing to ease sanctions on Iran while Qatar pushed for peace talks, after…

Asharq Al Awsat
Business Saudi Finance Minister Mohammed al-Jadaan at the 11th annual meeting of the Asian Infrastructure Investment Bank’s Board of Governors (X)

Saudi Minister Says AIIB Success Measured by Development Impact, Not Financing

Saudi Finance Minister Mohammed al-Jadaan urged the Asian Infrastructure Investment Bank to judge its success by the impact of its projects, saying financing…

Asharq Al Awsat (Riyadh )
Business Friday's forum is expected to bring together more than 20 heads of state and government representatives in the Mediterranean city of Alamein, alongside business leaders, bankers and development institutions. © KHALED DESOUKI / AFP/File

African Leaders to Gather in Egypt for Business Summit

African leaders will meet in Egypt on Friday for a business summit that Cairo hopes will bolster its clout across the continent. Friday's forum is expected…

Asharq Al Awsat
Business Shipping containers in the Port of Montreal, Canada (Reuters)

US Ban on $1 Billion Worth of Canadian Imports Goes into Effect

US-Canada relations, already tense, are likely to deteriorate further after the United States went ahead early Tuesday with a decision to ban nearly $1 billion…

Asharq Al Awsat (Washington)
Business This photograph shows the entrance to the International Energy Agency (IEA) headquarters in Paris on March 11, 2026. (Photo by Ludovic MARIN / AFP)

Birol: IEA Member States Will Discuss Strategic Oil Reserve Releases if Needed

The International Energy Agency's member states may discuss whether more strategic oil reserves could be released on the market in the future, IEA head Fatih…

Asharq Al Awsat (Paris)
Business Egyptian Electricity Minister Mahmoud Esmat during a seminar at the National Press Authority on Sunday evening (Electricity Ministry’s Facebook page)

Saudi-Egypt Electricity Interconnection Nears Operation

The Saudi-Egypt electricity interconnection, one of the region’s largest and most ambitious energy projects, is nearing actual operation after an official…

Mohamed Mahmoud (Cairo)
Business The Saudi and Syrian delegations meet in Damascus on Monday. (SPA)

Acwa-WTCO Consortium Holds Preparatory Meeting in Syria to Launch Water Partnership Studies

The consortium comprising the Water Transmission Company (WTCO) and Acwa Power held on Monday a preparatory meeting in Damascus on the tripartite agreement…

Business Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Australian Minister for Climate Change and Energy Chris Bowen meet in Jeddah. (SPA)

Saudi Arabia, Australia Discuss Climate Cooperation Opportunities

Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz met in Jeddah on Monday with Australian…

Business Vessels in the Strait of Hormuz near the beach of Bandar Abbas, Iran, September 28, 2026. Amirhosein Khorgooi/ISNA/via WANA (West Asia News Agency) via Reuters

Mideast Oil Exports Rebound to 12.8 Million Barrels Per Day

Crude oil exports from key Middle East producers rebounded in September to 12.8 million barrels per day, the highest since the US-Israeli war with Iran started…

Asharq Al Awsat
Business President Ahmad al-Sharaa issued a decree appointing Nebras Mohammad Wahid Khayyata as first deputy governor of the Central Bank of Syria. (X) 

Syria Central Bank Expects More Than $1 Billion to Establish New Banks

Syria expects more than $1 billion in foreign capital to flow into the country to establish new banks, Central Bank Governor Mohammad Safwat Raslan said, as…

Asharq Al Awsat (Damascus)
Business The Saudi Energy Minister during the opening ceremony of the 24th World Petroleum Congress in Calgary, Canada, in 2023 (Reuters)

Riyadh to Host Global Energy Leaders for Talks on Markets, Supply

Saudi Arabia will bring together some of the world’s most influential energy leaders in Riyadh from Oct. 11-15 for high-level talks on energy security, oil and…

Asharq Al Awsat (Riyadh)
Business The White House is photographed, Sunday, Sept. 27, 2026, in Washington. (AP Photo/Allison Robbert)

White House Releases List of Products US, China Could Tax Less

The White House released Sunday lists of products that could benefit from lower tariffs under an arrangement with China affecting $30 billion in goods in each…

Asharq Al Awsat (Washington)
Business Oil rigs operate in a field on the shores of the Caspian Sea in Azerbaijan's capital, Baku (Reuters)

Oil Prices Spike after Trump Rejects Iran Truce Offer

Oil prices spiked with bond yields Monday as Donald Trump's rejection of an Iranian offer of a seven-day truce stoked inflation concerns, while stocks were…

Asharq Al Awsat
Business A smartphone with a displayed Qualcomm logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration 

Qualcomm, Tarjama Team Up to Expand Arabic AI Applications

Qualcomm Technologies and Tarjama, an Arabic language and AI solutions provider, signed a memorandum of understanding (MoU) at LEAP 2026 in Riyadh to explore…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A raw gold bar is displayed at Nigeria’s booth at the 8th China International Import Expo (CIIE) venue in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov/File Photo

Gold Drops More than 2% on US Rate-hike Bets

Gold prices fell more than 2% on Monday as a rise in oil prices heightened inflation concerns and reinforced expectations of further Federal Reserve interest…

Asharq Al Awsat
Business A drone view shows facilities at the Banias oil refinery, in Banias, Syria, April 8, 2026. (Reuters)

Syria Says Sending Imported Petrol to Iraq

Syria said on Sunday that it had begun delivering imported petrol to Iraq this week, months after Baghdad began exporting its oil via Syria when the Middle…

Business FILE PHOTO: US Treasury Secretary Scott Bessent speaks to the media after two days of meetings with a Chinese delegation, in Paris, France March 16, 2026. REUTERS/Abdul Saboor/File Photo

US Treasury Chief Claims Successes in Isolating Iran

US Treasury Secretary Scott Bessent said on Saturday that he had sent envoys around the world to pressure countries to economically isolate Iran, hailing new…

Business WASHINGTON, DC - SEPTEMBER 25: US President Donald Trump (R) and President of China Xi Jinping (L) speak as they depart following a tour of the National Archives Museum on September 25, 2026 in Washington, DC. Win McNamee/Getty Images/AFP

China, US Agree to $30 Billion Tariff Cut, AI Dialogue

China and the US have agreed to a $30 billion reciprocal tariff-reduction arrangement and to launch dialogue on AI, under an eight-point consensus reached…

Asharq Al Awsat
Business FILE PHOTO: A raw gold bar is displayed at Nigeria’s booth at the 8th China International Import Expo (CIIE) venue in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov/File Photo

Gold Rises, but on Track for Weekly Loss as Fed Rate Hike Expectations Build

Gold prices rose on Friday but was on track for a weekly loss, as rising US Treasury yields and growing expectations of Federal Reserve rate hikes weighed on…

Asharq Al Awsat
Business US dollar banknotes (Reuters)

Dollar Falls as Oil Eases, Yen Rallies on Japan Remarks

The dollar fell on Friday as oil prices eased, but was poised for a second straight weekly advance on growing rate hike bets, while the yen rallied after Japan…

Asharq Al Awsat
Business FILE - This file photo released on April 7, 2019, by the Syrian official news agency SANA, shows a worker filling a pickup at a gas station, in Homs, Syria. (SANA via AP, File)

Gasoline Shipped to Syria Begins Moving by Road to Iraq, Syrian Official Says

Gasoline shipped to Syria has begun moving by road to Iraq, a senior Syrian oil official told Reuters, establishing a two-way energy corridor through a route…

Asharq Al Awsat
Business Patrick Pouyanne, CEO of TotalEnergies, attends the ROG.e, Brazil's largest oil and gas event in Rio de Janeiro, Brazil, September 21, 2026. REUTERS/Ricardo Moraes

TotalEnergies Board Backs CEO Pouyanne's Mandate Renewal

TotalEnergies said on Friday its board unanimously backed the renewal of Chairman and CEO Patrick Pouyanne's mandate and reaffirmed the relevance of the …

Asharq Al Awsat (Paris)
Business Japan's 10-year yield reached a fresh 30-year high in morning trade on Friday. Kazuhiro NOGI / AFP

Asian Markets Mixed after Oil Gains

Asian markets were mixed Friday after recent oil price surges and as US and Japanese bond yields hit multi-year highs with no end in sight for the Middle East…

Asharq Al Awsat
Business US Energy Secretary Chris Wright holds a press conference on the sidelines of the International Atomic Energy Agency (IAEA) General Conference in Vienna, Austria, September 14, 2026. (Reuters)

US Business Lobbies Say Diesel Export Ban Would Backfire

Trade associations representing large US companies and energy suppliers urged President Donald Trump to resist calls for a diesel fuel export ban, arguing the…