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 One of the autonomous trucks (Asharq Al-Awsat)

Riyadh Opens the Way for Driverless Parcel Delivery

As the mobility landscape within Saudi cities continues to evolve, Riyadh is preparing to embark on a new experience in which no driver sits behind the wheel…

Dana Aldrees (Riyadh)
Business FILE PHOTO: Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. REUTERS/Stringer/File Photo

Strait of Hormuz Ship Crossings Remain in Single Digits

Vessel transits through the Strait of Hormuz remained in the single digits at four on Tuesday, down from seven a day earlier, preliminary shipping data showed…

Asharq Al Awsat
Business People shop at the Eminonu district of Istanbul, Türkiye, April 25, 2025. (Reuters)

Türkiye 2027 Inflation Target Realistic, Minister Says

Türkiye's 2027 inflation target in its medium-term program is regarded as realistic by markets, provided that the Iran war does not continue next year, Finance…

Business The Bahraini capital (Reuters)

Bahrain's Alba Says Produces 1.3 Million Tons Per Year of Aluminium

Aluminium Bahrain, known as Alba, is currently producing aluminium at an annualized rate of 1.3 million metric tons, versus a pre-Iran war capacity of around 1…

Asharq Al Awsat
Business A shop attendant displays pairs of gold bracelets for Chinese weddings during a media preview of the Chow Tai Fook Jewellery Group flagship store soft opening, in Hong Kong, China, February 11, 2026. (Reuters)

Gold Gains with Fed Rate Decision in Spotlight

Gold prices ticked up on Wednesday as oil prices eased, while market participants looked ahead to the US Federal Reserve's policy decision, with a rate hike…

Business Saudi Cement Company’s factory. (Saudi Cement Company)

Saudi Cement Companies Balance Investment Gains, Demand Prospects

Saudi Arabia’s listed cement companies maintained high profitability in the first half of 2026 despite wide disparities in performance and differing sources of…

Mohammed al-Mutairi (Riyadh)
Business  An oil tanker sails near the oil hub at the port of Fos-Lavera at sunset near Marseille, southern France, September 15, 2026. (Reuters)

Oil Slips on US Stock Build, Middle East Disruptions Limit Losses

Oil prices fell on Wednesday, retreating after a two-day rally following an unexpectedly large build in US crude inventories, while supply disruptions in the…

Business  Shoppers admire the financial Central district skyline of Hong Kong, China July 9, 2015. (Reuters)

Hong Kong Unveils Plan to Align Economy with China’s Goals

Hong Kong's government unveiled plans on Wednesday to significantly boost investment on innovation and technology as it aims to align the financial hub with…

Business FILE PHOTO: Canary Wharf, from the Horizon 22 viewing platform in London, Britain, June 9, 2026. REUTERS/Chris J. Ratcliffe/File Photo

UK Inflation Jumps to 3.1% in August as Fuel Prices Rise

Britain's annual inflation rate climbed in line with analysts' expectations in August, official data showed Wednesday, as the Middle East war drove up fuel…

Asharq Al Awsat (London)
Business A panel discussion at the Saudi Industry Forum in Jeddah (Asharq Al-Awsat)

Sudair Pharma: World’s Largest Insulin Plant Opens in Saudi Arabia in 2027

Saudi Arabia is moving to strengthen its pharmaceutical security on two parallel fronts: expanding domestic production of biologic medicines and building a…

Asma al Ghabri (Jeddah)
Business Crown Prince and Prime Minister Mohammed bin Salman during the Cabinet meeting in Jeddah (SPA)

Saudi Arabia Bets on Small Businesses to Drive Its Next Growth Phase

Saudi Arabia is entering a new phase in its economic diversification drive, placing small and medium-sized enterprises and entrepreneurship at the heart of…

Bandar al-Mosalam (Riyadh)
Business Canadian Prime Minister Mark Carney speaks during a news conference at the 2026 Canada Investment Summit in Toronto, on Tuesday, Sept. 15, 2026. (Nathan Denette/The Canadian Press via AP)

Carney Hopes Trade War with US Will Make Canada Stronger and More Resilient

Canadian Prime Minister Mark Carney said Tuesday that Canada intends to emerge from its trade war with the United States as a more resilient and independent…

Business Riyadh Economic Forum to Assess Role of Legislation in Saudi Sustainable Development

Riyadh Economic Forum to Assess Role of Legislation in Saudi Sustainable Development

The 12th session of the Riyadh Economic Forum, scheduled from October 12 to 14, 2026, will discuss a study on measuring the impact of legislation and public…

Asharq Al Awsat
Business The dollar's six-currency index rose 0.15% to 99.633, also gaining support from weakened risk appetite as shares markets tumbled. (Reuters)

Dollar Inches Higher as 10-Year Treasury Yield Climbs to Highest Since 2007

The dollar strengthened towards a two-week high on Tuesday, as surging oil prices pushed Treasury yields to fresh peaks since 2007, and cemented expectations…

Business  People visit a cutting-edge technology festival at the Zhongguancun, a landmark park of Hi-tech enterprises in Beijing on September 12, 2026. (AFP)

Tech Boom Powers China’s Factories but Economic Imbalances Deepen as Consumption Slows

China's industrial sector showed renewed strength in August as the AI-driven tech boom fueled factory output, though sluggish consumption and a worsening…

Business This picture shows the construction site of the CNNC Tianwan Tidal Flat Photovoltaic Demonstration Project in Lianyungang, in eastern China's Jiangsu province on September 15, 2026. (CN-STR / AFP)

China’s Fossil-Fueled Power Output Falls 4.3% in August as Clean Energy Gains

China's fossil-fueled power generation fell 4.3% in August from a year earlier, figures from the National Bureau of Statistics showed on Tuesday, as rising…

Business The Federal Reserve Board building in Washington, DC, US, November 14, 2025. (Reuters)

Morgan Stanley Turns More Hawkish, Forecasts Two Fed Hikes and ECB Move

Morgan Stanley has joined other major Wall Street banks in adopting a more hawkish outlook on interest rates, forecasting US Federal Reserve rate hikes and…

Business 04 April 2025, Bavaria, Munich: Gold bars of various sizes lie in a safe on a table at the precious metal dealer Pro Aurum. (dpa)

Gold Slips as Oil Gains Strengthen Case for Elevated Interest Rates

Gold slipped on Tuesday as rising crude oil prices heightened inflation worries and reinforced US rate-hike expectations ahead of a Federal Reserve policy…

Business First-day sessions examined opportunities for cooperation among universities, research centers and global companies in biotechnology. (SPA)

Riyadh Global Medical Biotechnology Summit Opens with Participants from More than 70 Countries

The Riyadh Global Medical Biotechnology Summit 2026 opened on Monday with participants from more than 70 countries, over 100 speakers and more than 10,000…

Business TotalEnergies, Iraq Agree to Start Talks on Energy Projects

TotalEnergies, Iraq Agree to Start Talks on Energy Projects

TotalEnergies and the Iraqi government have agreed to start discussions on energy projects in the country, while France and Iraq have also agreed on a roadmap…

Business Saudi Minister of Energy, Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz speaks at the IAEA conference in Vienna on Monday. (SPA)

Saudi Arabia Outlines 3 Pathways to Explore Uranium Resources Locally

Saudi Arabia is moving forward with integrating nuclear energy into its national mix while developing its domestic uranium resources and building an integrated…

Business Freeman Shaheen, the president of Chevron Global Gas, participates in a discussion at the Gastech conference in Houston, Texas, US, September 18, 2024. REUTERS/Callaghan O'Hare

Chevron Eyes Argentina, Mediterranean for Global LNG Growth, Deal with India

Chevron is looking to expand its global gas portfolio from Argentina to the Mediterranean to meet growing demand from buyers concerned about energy security…

Asharq Al Awsat
Business FILE PHOTO: Shipping containers sit on a Maersk vessel docked at the port of Los Angeles in Long Beach, California, US, March 10, 2026. REUTERS/Caroline Brehman/File Photo

Maersk, Hapag-Lloyd Resume Further Services Through Suez Canal

Shipping group Maersk said on Monday it will resume four further of its container services with Germany's Hapag-Lloyd through the Suez Canal, as they gradually…

Asharq Al Awsat