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 UAE central bank - WAM

UAE Central Bank to Inspect Egyptian Bank's Branches after US Sanctions

The UAE central bank said Saturday it would inspect a major state-owned Egyptian bank's branches, after Washington said it would cut off the institution's…

Asharq Al Awsat
Business Cars drive along a street in Riyadh. (Reuters)

Insurance Operations Lift Saudi Sector Profits 24.3% to Nearly $500 Million

Saudi Arabia's insurance sector has entered a new phase of growth, driven by improved insurance service results, greater operational efficiency, and stronger…

Mohammed al-Mutairi (Riyadh)
Business Al-Shorja wholesale market in central Baghdad, Iraq. (Reuters)

Iraq: Foreign Reserves Remain at Safe Levels

Mudhhir Mohammed Saleh, financial adviser to the Iraqi prime minister, said Saturday that Iraq's foreign reserves remain at relatively safe levels, stressing…

Asharq Al Awsat (Baghdad)
Business Drivers queue at a Rosneft petrol station to refuel their cars in Moscow on August 21, 2026. (AFP)

Russia Extends Ban on Diesel Exports Until September 30

Russia said on Saturday it had extended a ban on diesel exports until September 30. The ban also covers exports of marine fuel and gas oils shipped by…

Business A view of the Saudi Luxury Real Estate Show, which opened in the British capital, London (Asharq Al-Awsat)

REGA: Saudi Property Market Draws Strong Int’l Investor Interest

Saudi Arabia’s property market is entering a new phase of openness to international capital, driven by new rules on real estate ownership by non-Saudis and the…

Asharq Al Awsat (London)
Business View of an oil tanker at the Maracaibo Lake in Maracaibo, Venezuela, on March 9, 2026. Margioni BERMÚDEZ / AFP

Trump Announces Deal for Huge US Stake in Venezuelan Oil Reserves

President Donald Trump said Friday his administration has reached a huge oil deal with Venezuela that gives the United States majority control of 65 billion…

Asharq Al Awsat
Business Hosting IDWS 2026 reflects an advanced stage in the development of Saudi Arabia's water sector - SPA

Saudi Arabia to Host Fifth Innovation Driven Water Sustainability Conference

The Kingdom of Saudi Arabia will host the fifth Innovation Driven Water Sustainability Conference (IDWS 2026) from December 14 to 16, 2026, at the Ritz-Carlton…

Asharq Al Awsat
Business Participants at the Saudi Luxury Real Estate Exhibition in London listen to a presentation on one of the projects (Asharq Al-Awsat)

Real Estate Authority to Asharq Al-Awsat: Strong Interest from International Investors in Saudi Market

Saudi Arabia's real estate market is entering a new phase of openness to international capital, driven by new regulations governing non-Saudi ownership of…

Asharq Al Awsat (London )
Business A man walks past a gold shop at the Grand Baazar in Istanbul - AFP

Gold Inches Lower ahead of Fed Chair Warsh's Jackson Hole Remarks

Gold prices ticked lower on Friday, with investors awaiting Federal Reserve Chair Kevin Warsh's remarks at the Jackson Hole symposium later in the day to gauge…

Asharq Al Awsat
Business Saudi Arabia, Syria Sign Four Agreements to Boost Transport and Logistics Ties

Saudi Arabia, Syria Sign Four Agreements to Boost Transport and Logistics Ties

Minister of Transport and Logistic Services Saleh Al-Jasser concluded an official visit to Syria, where he met with Syrian President Ahmed al-Sharaa to review…

Asharq Al Awsat
Business Passengers wait as the traffic is suspended following a fault in the electrical system at the Montparnasse railway station in Paris on August 27, 2026. (Photo by Olivier MORIN / AFP)

French Economy Stalls in Q2, Inflation Speeds Up

France's economic growth stalled in the second quarter, statistics office Insee said Friday, revising down its initial forecast while reporting a sharp rise in…

Business  People interact with a humanoid robot outside the 2nd World Humanoid Robot Games at the National Speed Skating Oval in Beijing on August 26, 2026. (AFP)

S&P Affirms China’s ‘A+’ Rating, Sees Growth Above 4% as Fiscal Support Continues

S&P affirmed China's sovereign credit rating at "A+" on Friday, citing its expectation that the country's economy will likely continue to grow by 4% or more…

Business Crude oil processing facilities at the PCK refinery in Schwedt, Germany, 26 August 2026. (EPA)

Oil on Track for Weekly Loss Even as Iran Tensions Simmer

Oil prices fell on Friday and are on track to snap a two-week winning streak, despite settling higher in the previous session following a report that US…

Business Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File

Most Asian Stocks Advance as Attention Turns to Warsh Speech

Asian stocks mostly rose Friday ahead of a closely watched speech by Federal Reserve boss Kevin Warsh that investors will be parsing for clues about the…

Asharq Al Awsat
Business Visa and Mastercard credit cards are seen in this illustration taken February 3, 2026. REUTERS/Dado Ruvic/Illustration

Visa, Mastercard Launch International Card Payments in Syria after US Lifts Terrorism Designation

Visa and Mastercard carried out their first international card transactions in Syria on Wednesday, a major step in reconnecting the country with global payment…

Asharq Al Awsat
Business Construction work at the Shams Al-Diyar project, part of the Housing Program in Riyadh (SPA).

Saudi Arabia Closes Loophole in White Land Fees: Develop or Pay

Saudi Arabia is moving to make white land fees more closely tied to the actual behavior of landowners, closing one avenue through which ownership of land could…

Bandar al-Mosalam (Riyadh)
Business A customer looks at gold bracelets at a local store in Saudi Arabia (SPA)

World Gold Council to Asharq Al-Awsat: Saudi Arabia Strengthens Its Position as a Key Market in the Region

As gold prices climbed to record levels in 2026 and its role as a tool for hedging and portfolio diversification grew amid rising global debt and continued…

Said Al Abyad (Jeddah)
Business An investor looks up at screens displaying stock information at the Dubai Financial Market, June 17, 2013. REUTERS/Jumana El Heloueh/File Photo

Gulf Stocks Rise on Hopes for Renewed US-Iran Diplomacy

Gulf stock markets rose in early trade on Thursday, buoyed by hopes that diplomatic efforts between the United States and Iran could resume after the two sides…

Asharq Al Awsat
Business A worker rests next to an oil pump on a sunny day in Baku, Azerbaijan, June 16 , 2015. (Reuters)

Oil Extends Losses on Hopes Middle East Talks Could Ease Supply Woes

Oil prices fell more than $1 on Thursday, extending a streak of losses, on expectations that talks between Iran and Qatar might open the Strait of Hormuz and…

Asharq Al Awsat
Business AFP_A worker displays a one kilogram gold bullion bar at the ABC Refinery in Sydney

Gold Drifts Higher, Eyes on Fed Chair Warsh's Comments

Gold prices drifted higher on Thursday as so-called dollar debasement fears lingered, while attention shifted to highly anticipated remarks from US Federal…

Asharq Al Awsat
Business Vessels in the Strait of Hormuz are visible near the beach of Bandar Abbas, Iran, August 26, 2026. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

Shipping Traffic Through Strait of Hormuz Rises Slightly, Data Shows

Shipping ‌traffic at the Strait of Hormuz rose slightly even as a geopolitical standoff persisted between the United States and Iran, while the market…

Asharq Al Awsat
Business File photo of the Heglig oil field in southern Kordofan, Sudan (Reuters)

More Sudanese Oil Available for Marine Fuel Blending as China Demand Eases

More barrels of ‌South Sudan's Dar Blend crude oil returned to the marine fuel blending pool in Singapore and Malaysia this month as demand from China's…

Asharq Al Awsat
Business US President Donald Trump speaks as he hosts a back-to-school-themed event to highlight his administration's education policies, in the Rose Garden at the White House in Washington, DC, US, August 24, 2026. (Reuters)

Trump: ‘Time to Teach Canada You Can’t Do This Anymore’

US President Donald Trump said on Wednesday that it was "time to teach Canada you can't do this anymore," just days after trade talks between the neighboring…

Business “Bisha Battery Energy Storage Project” (Saudi Ministry of Energy)

Behind the Sun and Wind, Saudi Arabia Invests in 'Stored Energy'

As solar and wind projects reshape Saudi Arabia's energy landscape, a new market is taking shape, focused on electricity storage. As reliance on renewable…

Dana Aldrees (Riyadh)