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 Mawani Adds 'RC2' Shipping Service to Jeddah Islamic Port

Mawani Adds 'RC2' Shipping Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) has added the "RC2" shipping service, operated by Ocean Network Express (ONE), to Jeddah Islamic Port, enhancing maritime…

Asharq Al Awsat
Business Gold jewellery is displayed at a gold dealer shop window in Hatton Garden, London, Britain, 25 August 2026. (EPA)

Gold Ticks Lower, US Inflation Data in Spotlight

Gold slips on Wednesday after scaling a more than three-month high in the previous session, as investors awaited a key US inflation report to gauge the Federal…

Business A group photo of the participants in the French-Saudi Investment Roundtable Meeting. (SPA)

France Deepens Investment in Saudi Mega-Projects as Partnership Moves Beyond Oil

Saudi-French ties are entering a new phase that extends beyond traditional energy cooperation, with Paris seeking a deeper role in the major development…

Bandar al-Mosalam (Riyadh)
Business A worker rests next to an oil pump on a sunny day in Baku, Azerbaijan, June 16 , 2015. (Reuters)

Oil Prices Fall $2 on Iran-Oman Talks to Reopen Strait of Hormuz

Oil prices fell more than $2 a barrel on Wednesday as talks between Iran and Oman revived hopes that the Strait of Hormuz could reopen and remove shipping…

Business Canadian flag is pictured across the Detroit River in Windsor, Ontario, Canada, 25 August 2026. EPA/ARI SAPERSTEIN

Canada Unveils Counter Tariffs of 15% to 50% on US Goods

Canada on Tuesday announced counter-tariffs on US goods ranging between 15 percent and 50 percent, intensifying the trade war between the historically close…

Asharq Al Awsat
Business The Biban Forum in Riyadh, specializing in startups (SPA)

French Entrepreneur: Saudi Arabia is a Launchpad for Technology into Global Markets

French entrepreneur and investor Julie Barbier does not see Saudi Arabia merely as a promising market for technology companies, but as a global launchpad that…

Fatehelrahman Yousif (Riyadh)
Business Guests at the booth of Saudi AI company HUMAIN during the Future Investment Initiative conference in Riyadh (Company photo)

HUMAIN, Mistral Collaborate to Advance Sovereign AI in Saudi Arabia and Regionally

Saudi Arabia’s HUMAIN and French Artificial Intelligence company Mistral have announced a strategic collaboration spanning AI infrastructure, advanced model…

Asharq Al Awsat (Riyadh)
Business  Tankers anchor near Venezuelan state oil company PDVSA's Jose terminal while waiting to load and discharge, in Puerto La Cruz, Venezuela August 9, 2026. (Reuters)

Oil Steadies as Investors Weigh Impact of Latest US Sanctions on Iran

Oil prices recovered ground on Tuesday after settling down more than 2% in the previous session, with investors assessing the impact of the latest US sanctions…

Business A saleswoman adjusts gold jewelry displayed for sale in a shop in Lianyungang City, eastern Jiangsu Province, China (AFP)

Gold Steadies after Hitting over 3-month Peak, US Inflation Data Looms

Gold held steady after hitting its highest in more than three months on Tuesday, as investor focus shifted to upcoming US inflation data and a speech later…

Asharq Al Awsat
Business Saudi Arabia and France strengthened cultural cooperation through nine executive programs during the French president’s visit in December 2024. (SPA)

Saudi Economic Growth Draws Foreign Investment

French President Emmanuel Macron described the visit of Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, to France as an important milestone…

Michel Abou Najm (Paris)
Business Motorcyclists pass a billboard depicting US President Donald Trump underwater amid explosions, with the words “Great Victory! Strait of Hormuz,” in Tehran, Iran (EPA)

Trump’s Plan to Target Iran’s Economy Threatens its Trading Partners

The administration of US President Donald Trump has threatened “tremendous economic consequences” on any country that does business with Iran, as Treasury…

Asharq Al Awsat (New York)
Business Saudi Aramco's logo during the CERAWeek energy conference 2026 in Houston, Texas, US, March 24, 2026. (Reuters)

Saudi Aramco Boosts Its Global Partnership Ecosystem Through Collaboration with French Companies

Saudi Aramco announced on Monday agreements and a Memorandum of Understanding (MoU) with French companies with a potential combined value of more than $3.7…

Business Saudi Minister of Economy and Planning Faisal Alibrahim and French Minister of Health, Families, Autonomy and Persons with Disabilities Stephanie Rist sign the agreement on Monday. (SPA)

Saudi Arabia, France Sign MoU to Boost Health Cooperation

Saudi Minister of Economy and Planning Faisal Alibrahim, on behalf of Minister of Health Fahad AlJalajel, signed on Monday a memorandum of understanding (MoU)…

Business The logo of SoftBank Group Corp. is displayed at the company's headquarters in Tokyo on August 24, 2026. (Photo by Philip FONG / AFP)

SoftBank Plans $6.3 Billion Retail Bond Issuance Amid AI Push

SoftBank Group plans to issue a record volume of retail bonds, the largest such offering by a Japanese issuer, as the conglomerate seeks to fund its growing…

Asharq Al Awsat (Tokyo)
Business Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy signed on Monday a cooperation agreement with the French public investment bank Bpifrance on project financing on the sidelines of Prince Mohammed…

Business RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

The Saudi Ports Authority (Mawani) announced the signing of an agreement between Red Sea Gateway Terminal (RSGT) and French shipping group CMA CGM to develop…

Business JOINT BASE ANDREWS, MARYLAND - AUGUST 21: US President Donald Trump speaks with reporters before boarding Air Force One on August 21, 2026 in Joint Base Andrews, Maryland. Win McNamee/Getty Images/AFP

Trump Issues New Threats to Canada Over Trade

Trump threatened Monday to impose a 50% tariff on Canadian automobiles, car parts and steel starting next year as the trade rift with Ottawa deepens. Trade…

Asharq Al Awsat (Washington )
Business A view of the Saudi-French Business Forum held last year in Riyadh. SPA

$19 Billion as a Starting Point: Paris-Riyadh Roundtable Seeks to Expand Investment in the Sectors of the Future

An investment base worth €16.3 billion, equivalent to approximately $19 billion (SAR71.5 billion), is serving as a new starting point for Monday’s French-Saudi…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Investment Fahad Al-Saif and France’s Minister of Economy, Finance and Industrial, Energy and Digital Sovereignty, Roland Lescure. Asharq Al-Awsat

Saudi Investment Minister: Our Economy Offers Major Opportunities for French Companies

Saudi Minister of Investment Fahad Al-Saif said Monday that French foreign direct investment in Saudi Arabia has reached €16.3 billion, noting that France is…

Asharq Al Awsat (Paris)
Business Strategic oil reserve tanks in Texas (Reuters)

IEA: Not Discussing 2nd Release of Strategic Oil Reserves

The International Energy Agency is not discussing a second release of strategic oil reserves at this time, IEA chief Fatih Birol told Reuters on Monday. …

Asharq Al Awsat
Business Vessels near the Strait of Hormuz, as seen from Musandam, Oman, August 24, 2026. REUTERS/Stringer

Fewer Than 20 Ships Transited Strait of Hormuz at the Start of the Week

Fewer than 20 commodity vessels transited the Strait of Hormuz at the start of the week, shipping data showed on Monday, as Iranian and US blockades restrict…

Asharq Al Awsat (London)
Business LOS ANGELES, CALIFORNIA - AUGUST 21: Diesel prices over $7 a gallon are displayed on a pump at a gas station on August 21, 2026 in Los Angeles, California. Justin Sullivan/Getty Images/AFP

Oil Falls as Trump Pledges Economic War on Iran

Oil prices fell on Monday as investors braced for details of a US plan to isolate the Iranian economy that President Donald Trump billed as the "most crushing"…

Asharq Al Awsat
Business Norway's Energy Minister Terje Aasland attends a press conference in connection with the new realization of the carbon capture project at the waste incineration plant at Klemetsrud, Oslo, Norway January 27, 2025. (NTB/Ole Berg-Rusten via Reuters)

Norway Will Drill in Arctic Regardless of EU’s Position, Says Energy Minister

Norway will continue developing its oil and gas resources in the Barents Sea regardless of the European Union's support for a moratorium on Arctic hydrocarbon…

Business An aerial view of the Saudi capital, Riyadh (SPA)

How Geospatial Data Reduces Project Costs in Saudi Arabia?

Geospatial data forms the backbone of modern urban planning, linking digital information, including boundaries, land use, utilities and transportation networks…

Asharq Al Awsat (Riyadh)