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 QatarEnergy will hold a 30% working interest, while Shell (the operator) will hold 50%, and Sonangol will hold 20% in the two offshore blocks.(QatarEnergy)

QatarEnergy Expands in Angola with 30% Stake in 2 Offshore Blocks

QatarEnergy, alongside its partners Shell and Sonangol E&P, signed an agreement with Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) pertaining…

Asharq Al Awsat
Business A financial data screen in the dealing room of Hana Bank in Seoul, South Korea, 20 August 2026, shows the benchmark Korea Composite Stock Price Index (KOSPI) having gained 2.37 percent from the previous session to an intraday high of 6,624.38 in early trading. EPA/YONHAP

Asian Shares Fall and Oil Prices Trade above $100 a Barrel

Asian shares skidded Thursday following a retreat on Wall Street as the price of crude oil again traded above $100 a barrel. US futures were modestly higher…

Asharq Al Awsat
Business Jeddah Islamic Port (SPA)

Ports, Logistics Drive Saudi Transport Sector’s First-Half Growth Surge

Saudi Arabia’s transport sector gathered financial momentum in the first half of 2026 as operating activity expanded and several listed companies, particularly…

Mohammed al-Mutairi (Riyadh)
Business Türkiye looks to expand economic ties With Saudi Arabia (Asharq Al-Awsat)

Ankara Seeks to Take Saudi Economic Ties to ‘Higher Levels’

Saudi Arabia and Türkiye are recasting their economic relationship, moving beyond trade and traditional investment flows to forge long-term industrial…

Mosaed al-Zayani (Istanbul)
Business The Dubai Tower, a Chinese cargo ship, arrives in Teesport, Britain, September 9, 2026. (Reuters)

Container Ship Arrives in UK After Voyage from China via Arctic

A ‌container ship arrived in Britain on Wednesday after a landmark voyage from China via the Arctic, as part of plans for more vessels to use the route as…

Business A view of Riyadh, Saudi Arabia. (SPA)

Riyadh Ranked Among Top 100 Global Innovation Clusters

The Global Innovation Index has ranked Riyadh among the top 100 innovation clusters worldwide for 2026, making it the only Gulf city to attain this…

Business Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)

Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye will soon begin drilling a challenging oil-targeted well in the western Black Sea, Energy Minister Alparslan Bayraktar said ‌on Wednesday. "We …

Business Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 

Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Japanese technology company Epson is strengthening its presence in Saudi Arabia and across the Middle East and North Africa with the opening of its regional…

Asharq Al Awsat (Riyadh)
Business Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)

National Housing Company Invests About $880 Million in Riyadh Data Center

Saudi Arabia’s National Housing Company (NHC) is expanding its technology investments, moving beyond the development of digital platforms and services to…

Sara bin Shamran (Riyadh)
Business A solar panel project in Saudi Arabia. (SPA)

Saudi Renewable Energy Moves from Initiatives to Expansion

Saudi Arabia’s renewable energy sector is accelerating its shift from launching initiatives to large-scale operations and expansion, with operational project…

Bandar al-Mosalam (Riyadh)
Business A man rides a bicycle in the rain in Beijing, Tuesday, Sept. 8, 2026. (AP)

Chinese Inflation Picks up in August but Still Below Target

China's consumer and producer prices picked up slightly last month but remained below target, official data showed on Wednesday, as the world's second-largest…

Business An aerial view shows storage tanks at the sprawling BP refinery on September 08, 2026 in Whiting, Indiana. (Getty Images/AFP)

Oil Heads for $100, Asia Stocks Subdued as Middle East Tensions Escalate

Brent crude rallied towards $100 per barrel on Wednesday, keeping the mood in Asian stock markets subdued, as attacks intensified in the Middle East, stoking…

Business A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song 

Qualcomm Strikes $4 Billion AI Chip Deal with Amazon

Qualcomm said on Tuesday it gave Amazon the right to acquire about $4 billion in shares under a deal to develop custom chips for artificial intelligence (AI)…

Asharq Al Awsat (London)
Business Officials are seen at the opening of the expo in Jeddah on Tuesday. (SPA)

First Syrian Industries Expo SYRIX Opens in Jeddah to Foster Saudi-Syrian Trade, Investment

The inaugural edition of the Syrian Industries Expo, SYRIX Jeddah, 2026, organized by Jeddah Chamber, opened in Jeddah on Tuesday. The expo brings together a…

Business Two investors monitor shares on a screen in the Saudi market. (AFP)

Higher Foreign Ownership Cap Could Open New Chapter for Saudi Market

Saudi Arabia’s stock market is approaching another milestone in its opening to international investors, as it eases foreign ownership restrictions on listed…

Abeer Hommadi (Riyadh)
Business View of the International border on the Gordie Howe International bridge that connects Windsor, Ontario, Canada and Detroit, Michigan on September 6, 2026. (AFP)

Canada’s Counter-Tariffs Take Effect on Various US Goods

Canada's retaliatory tariffs on billions of dollars in US products took effect Tuesday, as a trade war between the North American neighbors heats up. The…

Business People shop in a bakery in a shopping mall in Beijing, China, 08 September 2026. (EPA)

China’s Exports Pick Up in August, Jumping 25% as Its Trade Surplus Widens

China’s exports jumped 25% in August from a year earlier on strong demand for autos and high-tech goods as its record trade surplus widened further, its…

Business Gold bracelets and necklaces are displayed for sale at a gold shop in Istanbul's Grand Bazaar (AFP)

Gold Ticks Up with US Inflation Data on Radar

Gold nudged higher on Tuesday as the US dollar slipped, with investors focused on upcoming inflation data that could shape expectations for the Federal Reserve…

Asharq Al Awsat
Business A man rides a bicycle in front of abandoned oil wells in Maracaibo lake, Zulia state, Venezuela on September 7, 2026. (Photo by John Chacَn / AFP)

Oil Rises as Risks of Prolonged Mideast Conflict Fan Supply Worries

Oil prices extended gains to multi-week highs on Tuesday as risks of a prolonged conflict in the Middle East grew after Iran threatened to retaliate against…

Asharq Al Awsat
Business Diesel prices are displayed at a gas station as prices hit a record high in the US, Friday, Sept. 4, 2026 in Minneapolis. (AP Photo/Ellen Schmidt)

Global Diesel Supply to Stay Tight Through Winter, Industry Execs Say

Global diesel supply will remain tight due to a lack of spare refining capacity, Russia's ban on exports and the approach of peak winter demand, senior…

Asharq Al Awsat
Business Aerial view of Al-Khafji Governorate (King Abdulaziz Foundation)

Saudi PIF Launches Company to Develop Coastal Destination in Al-Khafji

Saudi Arabia's Public Investment Fund (PIF) said it has launched a real estate company to create an integrated tourist and residential destination on the Al…

Asharq Al Awsat (Riyadh)
Business Serbian Foreign Minister and Saudi Deputy Foreign Minister sign an agreement waiving visa requirements for holders of diplomatic and official passports. (X)

Saudi Arabia and Serbia Expand Partnership in Energy, Technology and Trade

Saudi-Serbian relations are moving toward a new phase of economic and diplomatic cooperation, as Riyadh and Belgrade work to expand their partnership in the…

Fatehelrahman Yousif (Riyadh)
Business Nabil Shahin discusses standards developed by the US-based Air-Conditioning, Heating, and Refrigeration Institute (AHRI). (LinkedIn) 

Data Centers Open New Avenue for Localizing Saudi Cooling Industry

From buildings and megaprojects to data centers, demand for air-conditioning and cooling solutions is expanding across Saudi Arabia, driven by rapid…

Sara bin Shamran (Riyadh)
Business Gold jewelry is displayed at an exhibition in Kabul, Afghanistan, 03 September 2026. (EPA)

Gold Slips on Rate-Hike Bets; Inflation Data in Focus

Gold slipped on Monday as strong US jobs data reinforced expectations for higher interest rates, while investors awaited key US inflation reports due later…