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 A view of the Damietta Port in Egypt where a drone attack caused fire on two ships, in this undated social media video obtained by Reuters on July 30, 2026. DAMIETTA PORT AUTHORITY/Handout via REUTERS

Egypt Expects Drone-damaged Damietta Regasification Vessel to Resume Operations in Fourth Quarter

Egypt expects the Damietta regasification vessel, which was damaged in a drone attack in July, to resume operations in the fourth quarter of the year. The…

Asharq Al Awsat
Business

Mawani Adds MSC's ALBATROS Service to Jeddah Islamic Port, King Abdullah Port

The Saudi Ports Authority (Mawani) announced the addition of MSC's ALBATROS shipping service to Jeddah Islamic Port and King Abdullah Port in Rabigh, SPA…

Asharq Al Awsat
Business Norwegian oil firm DNO has agreed to buy UK's Capricorn Energy for $396 million - Reuters

Norway's DNO to buy UK-listed Capricorn Energy for $396 million

Norwegian oil firm DNO has agreed to buy UK's Capricorn Energy for $396 million, the parties said on Tuesday, outbidding rival Genel Energy . Kurdistan…

Asharq Al Awsat
Business 01 September 2026, Algeria, Algiers: Johann Wadephul, German Minister of Foreign Affairs, makes a press statement at a hotel in Algiers. (dpa)

Germany Eyes Algerian Gas to Diversify Supply, Says FM

Germany is looking for gas deals with Algeria to diversify its supply, Berlin's top diplomat said Thursday in Algiers, where he joined a business delegation…

Business Pedestrians walk in the Mahmutpasa district, one of Istanbul's biggest textile shopping centers, near the Grand Bazaar, Istanbul, Türkiye, Nov. 24, 2021. (AFP)

Turkish Manufacturing Contracts in August, PMI Shows

Türkiye's manufacturing sector ‌contracted again in August as the war in the Middle East kept demand muted and led firms to cut output, jobs and…

Business Lucid CEO and board member Silvio Napoli. (Asharq Al-Awsat)

Lucid in Saudi Arabia: From Assembly to Manufacturing

Lucid Motors is entering a new phase focused on improving liquidity and operational discipline, while launching new products and expanding manufacturing in…

Bandar al-Mosalam (Riyadh)
Business  An aerial view of solar panels at the Yinchuan Fourth Photovoltaic Power Station in Yinchuan, in northwestern China's Ningxia Hui Autonomous Region, on August 25, 2026. (CN-STR / AFP)

China Says Solar Power Capacity Surpasses Coal for First Time

China's installed solar energy capacity has surpassed that of coal-fired power for the first time, the national energy body said Tuesday, hailing the milestone…

Business An oil pumpjack at Lake Maracaibo in Cabimas, Venezuela, January 27, 2026. (Reuters)

Oil Extends Gains, Stocks Drop as Trump Issues Fresh Iran Warning

Oil prices extended gains Tuesday amid fears of a fresh bout of military exchanges between the United States and Iran following a flare-up at the weekend and…

Business LEAP 2026 kicks off in Riyadh on Monday under the theme "Into New Worlds." (SPA)

LEAP 2026: Saudi Arabia Leads AI Era with Over $15 Bn in Technology Launches, Investments

LEAP 2026, the fifth edition of the world's largest tech event, kicked off in Riyadh on Monday under the theme "Into New Worlds," bringing together leading…

Business File photo of the Saudi flag/AAWSAT

Saudi-Jordanian Business Council Recommends Boosting Economic Cooperation

Meetings of the Joint Saudi-Jordanian Business Council were held in Jordan’s capital, Amman, to strengthen bilateral partnerships, promote joint projects, and…

Asharq Al Awsat
Business This photo shows an exterior view of the Defense Ministry of Japan with its sign at the main entrance in Tokyo on Sept. 17, 2021. (AP Photo/Hiro Komae, File)

Japan Seeks Record $55.6 bln Defense Budget, with AI Focus, Says Ministry

Japan's defense ministry requested a record budget of 8.9 trillion yen ($55.6 billion) on Monday as Tokyo looks to artificial intelligence to speed up decision…

Asharq Al Awsat
Business 24 August 2026, Türkiye, Istanbul: Pigeons take flight at sunset as people sit along the waterfront in Istanbul. (dpa)

Turkish Economy Grows Less-Than-Forecast 2.3% in Q2 as Domestic Demand Shrinks

Türkiye’s economy expanded 2.3% year-on-year in the second quarter, data showed on Monday, below forecasts as domestic demand shrank amid tight monetary policy…

Business Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. (Reuters)

Crude Prices Rise on US-Iran Strikes, Equities Mixed After Warsh Remarks

Oil prices spiked more than two percent Monday after a fresh flare-up in the US-Iran war, while stocks were mixed as hawkish comments from Federal Reserve boss…

Business Minister of Communications and Information Technology Abdullah Alswaha addresses attendees at a government press conference. (Ministry of Media) 

Riyadh Brings Tech Giants Together at LEAP 2026, with Major Deals and Investments Expected

Riyadh is gearing up for major deals and partnerships with global technology giants during the fifth edition of LEAP 2026, which opens Monday with more than…

Asharq Al Awsat (Riyadh)
Business  A member of law enforcement works a checkpoint at the Omni Grove Park Inn before finance ministers and central bank governors from G20 countries meet in Asheville, North Carolina, US, August 29, 2026. (Reuters)

US Hosts G20 Finance Talks with Growth, Iran Pressure on Agenda

Finance leaders from the Group of 20 major economies open talks Monday at a US-hosted gathering, as the Trump administration seeks consensus on lifting global…

Business

Mawani Updates MSC’s 'JADE' Service Route via Bab Al-Mandab, Suez Canal

The Saudi Ports Authority (Mawani) announced an update to the route of MSC’s JADE shipping service, which will now transit the Bab Al-Mandab Strait and the…

Asharq Al Awsat
Business Workers install a tunnel‑boring machine at a factory in Jinhu county in eastern China's Jiangsu province on Aug. 25, 2026. (Chinatopix via AP)

Chinese Factory Slump Eases, but Weak Services Signal Uneven Recovery

China's factory activity improved in August on stronger demand but remained in contraction, while services activity stayed weak, underscoring deepening…

Business Gold bars are displayed at a gold jewellery shop in the northern Indian city of Chandigarh May 8, 2012. (Reuters)

Gold Hits Near Two-Week Low on Fed Chief’s Hawkish Stance

Gold fell on Monday to its lowest in nearly two weeks after US Federal Reserve Chair Kevin Warsh signaled that interest rate hikes may be needed to ease price…

Business A night view of the Saudi capital Riyadh. (SPA)

Riyadh to Host Inaugural Water Regulation Forum in November

The Saudi Water Authority (SWA) will launch the inaugural edition of the Water Regulation Forum in Riyadh on November 1. Established as an annual global…

Business The Jeddah Superdome will host the 2026 edition of the congress. (Saudi Maritime and Logistics Congress)

Saudi Maritime and Logistics Congress Kicks off in Jeddah in October

The Saudi Maritime and Logistics Congress will kick off in Jeddah on October 21 and 22, with the participation of more than 15,000 specialists from over 90…

Business 26 August 2026, Syria, Damascus: People walk at the Damascus Fair Grounds during the opening ceremony of the 63rd Damascus International Fair. (dpa)

Saudi Ministry of Industry Participates in 63rd Damascus International Fair

The Saudi Ministry of Industry and Mineral Resources is participating in the 63rd Damascus International Fair, taking place from August 26 to September 4. …

Business The Saudi and Pakistani delegations are seen in Islamabad. (SPA)

Saudi Arabia, Pakistan Aim to Raise Agricultural and Food Exports to Reach $3 Billion

Saudi Arabia and Pakistan have agreed to bolster cooperation in the fields of food security and agriculture, as both sides look to increase the value of…

Asharq Al Awsat (Islamabad)
Business A night view of the Gran Mosque in the holy city of Makkah, Saudi Arabia. (SPA)

Hotels Reshape the Real Estate Investment Landscape in Makkah

The real estate market in Makkah is witnessing an accelerating shift toward investment in hospitality assets, fueled by the growing numbers of Hajj and Umrah…

Sara bin Shamran (Riyadh)
Business US Federal Reserve Chairman Kevin Warsh takes a break in the rain with Bank of Canada Governor Tiff Macklem and Bank of England Governor Andrew Bailey during the Kansas City Fed’s annual economic symposium, in Jackson Hole, Wyoming, US, August 28, 2026. (Reuters)

Europe’s Central Bankers Fear More Turbulence in Testy US Relations

Europe's central bankers are leaving an annual getaway with their US counterparts far from reassured that long-standing norms in global cooperation remain…