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 Boeing 787-9 Dreamliner aircraft of Saudi airline Riyadh Air is pictured on the tarmac at King Khalid International Airport in Riyadh on June 7, 2026. (AFP)

Riyadh Air Launches Direct Flights to Mumbai as Eighth International Destination

Riyadh Air launched its inaugural flight to Mumbai, marking its entry into the Indian market. Mumbai becomes the airline's eighth scheduled destination, just…

Asharq Al Awsat
Business Two men talk at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia. (Reuters)

Saudi Market Extends Gains on Support from Blue-Chip Stocks

The Saudi Stock Exchange's main index (TASI) ended Wednesday's session up 0.3%, closing at 10,888 points, a gain of 29 points and its highest close in more…

Asharq Al Awsat
Business Combine harvesters work on a field in the Kharkiv area, Ukraine, 03 August 2026, amid the ongoing Russian invasion. (EPA)

World Faces Fresh Food Price Surge, FAO Warns

The world is on the verge of another bout of food inflation as wars in Iran and Ukraine along with El Nino create a perfect storm of higher costs and lower…

Business A man rides a tricycle to carry belongings in Beijing Wednesday, Aug. 5, 2026. (AP Photo/Achmad Ibrahim)

China Announces 'Countermeasures' after US Trade Sanctions

China announced restrictions on drone exports to the United States and blacklisted six companies on Wednesday in response to trade sanctions imposed by…

Asharq Al Awsat
Business This handout photograph taken and released by Ukrainian State Emergency Service on August 5, 2026 shows rescuers working outside a warehouse premises damaged following massive Russian ballistic missile and drones strikes in the Ukrainian capital of Kyiv. (Photo by Handout / Ukrainian State Emergency Service / AFP)

EU to Use €1.4 Billion from Interest on Frozen Russian Assets to Help Ukraine

European Union will use €1.4 billion ($1.6 billion) taken from interest generated by frozen Russian assets to help Ukraine, the European Commission said on…

Asharq Al Awsat
Business The Consortium’s agreement to acquire EA was previously announced on September 29, 2025, and was approved by EA stockholders at the special meeting of stockholders held on December 22, 2025. (PIF)

Electronic Arts Announces Completion of Acquisition by Saudi Public Investment Fund-Led Consortium

Electronic Arts, a global leader in interactive entertainment, announced on Tuesday that its acquisition by Saudi Arabia’s Public Investment Fund, as well as…

Business One kilogram gold bars are seen in this picture illustration taken at the Korea Gold Exchange in Seoul August 9, 2011. (Reuters)

Gold Hits One-Month Peak on Lower Oil and Softer Dollar

Gold rose for a third straight session on Wednesday, hitting a one-month peak on a softer dollar and lower oil prices, while investors awaited US jobs data for…

Business The GM logo is seen on the China Headquarters in Shanghai, China, August 29, 2022. REUTERS/Aly Song/File Photo

GM Renews China Joint Venture with SAIC for 20 Years after Restructuring

General Motors said on Tuesday it had renewed its joint-venture agreement with China's SAIC Motor for 20 years after a lengthy restructuring in the Chinese…

Asharq Al Awsat
Business The silhouette of Elon Musk and SpaceX logo are seen in this illustration created on June 11, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

Options Market Braces for $225 Billion Swing in SpaceX's Value as Earnings Loom

Traders in the options market are braced for a swing of roughly $225 billion in the value of SpaceX shares following its first-ever earning report on Tuesday,…

Asharq Al Awsat (New York)
Business The Saudi capital Riyadh. SPA

Saudi Non-Oil Private Sector Continues to Grow on Strong Domestic Demand

Saudi Arabia’s non-oil private sector continued to expand in July, driven by improving domestic demand and ongoing growth in output, despite continued pressure…

Asharq Al Awsat (Riyadh)
Business The artificial intelligence AI acronym at the 10th edition of the VivaTech technology startups and innovation fair in Paris, France, June 18, 2026. REUTERS/Gonzalo Fuentes

World Bank Calls on Developing Countries to Embrace AI for Better Governance

The World Bank on Tuesday called on developing countries to embrace artificial intelligence technology tools to deliver better governance outcomes, warning…

Asharq Al Awsat (Washington)
Business Diving at Nabq Nature Reserve (Environment Ministry)

Egypt Moves to Boost Tourism Investment in Nature Reserves

Egypt is seeking to turn Nabq Nature Reserve in South Sinai into a model for sustainable ecotourism, as part of a broader drive to develop protected areas and…

Asharq Al Awsat (Cairo)
Business Ships in the Strait of Hormuz on August 3, 2026 (Reuters)

Iraq Exported 30 mn Barrels of Crude via Hormuz in a Month: Monitor

Iraq exported over 30 million barrels of crude oil in one month through the strategic Strait of Hormuz, data from the maritime tracking firm Kpler showed on…

Asharq Al Awsat
Business ECCKSA CEO Kristijonas Gedvilas at an event (Asharq Al-Awsat)

European Chamber of Commerce Looks to Expand Trade and Investment With Saudi Arabia

The European Chamber of Commerce in Saudi Arabia (ECCKSA) said economic relations between the European Union and Saudi Arabia are entering a new phase of…

Fatehelrahman Yousif (Riyadh)
Business A Saudi Aramco facility (Aramco)

Riyadh Combines Supply Security and Diplomacy to Calm Energy Markets

As mounting geopolitical tensions threaten global energy supply routes, Saudi Arabia has emerged as a pivotal player in safeguarding oil market stability,…

Bandar al-Mosalam (Riyadh)
Business SABIC continues to be committed to serving its customers across the globe, relying on its strong technology and innovation capabilities - SPA

SABIC Completes Divestment of Engineering Thermoplastics Business in Americas and Europe

The Saudi Basic Industries Corporation (SABIC) has completed the divestment of its Engineering Thermoplastics (ETP) business in the Americas and Europe to…

Asharq Al Awsat
Business FILE PHOTO: Goldman Sachs logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic//File Photo

Goldman Sees Brent at $80-$90 Until US-Iran Deal or Major Escalation

Goldman Sachs said on Tuesday it expects Brent crude to trade in an $80-$90 per barrel range until there is either confirmation of a new US-Iran nuclear deal…

Asharq Al Awsat
Business BP reported second-quarter profit more than doubled to $5.73 billion, beating forecasts thanks to higher energy prices. Reuters

BP's Quarterly Profit Doubles to Over $5 Billion after Iran War Oil Surge

BP reported second-quarter profit more than doubled to $5.73 billion, beating forecasts thanks to higher energy prices, trading and refining margins, as CEO…

Asharq Al Awsat (London)
Business A drone view shows a Chinese-flagged oil tanker moored at an oil terminal at Tsing Yi port, with Tsing Ma bridge in the background, in Hong Kong, China March 19, 2026. (Reuters)

Oil Ticks up After Selloff as Talks to End US-Iran War Remain Uncertain

Oil prices rebounded 1% on Tuesday from a plunge in the previous session, fueled by concerns that Middle East supply remains at risk as a diplomatic resolution…

Business 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. (dpa)

Gold Holds Ground with Middle East Turmoil, US Jobs Data in Focus

Gold nudged higher on Tuesday as investors weighed mixed signals on potential US-Iran talks and awaited a series of US labor market reports for clues on the…

Business 3D-printed oil pump jacks and the Saudi Aramco logo appear in this illustration taken March 2, 2026. (Reuters)

Saudi Aramco Reports Net Income of $32.7 Bln in Second Quarter

Saudi Aramco on Tuesday said its net profit rose 44 percent in the second quarter year-on-year as the Middle East war pushed oil and gas prices higher. …

Business An initiative to improve local Saudi talent in AI (Asharq Al-Awsat)

Saudi Arabia Prepares for the AI Age by Building National Talent

Saudi Arabia has moved forward in preparations for the age of artificial intelligence through a strategy that combines digital infrastructure development with…

Asma al Ghabri (Jeddah)
Business The agreements are part of both parties’ efforts to advance Saudi Arabia’s local content agenda (Asharq Al-Awsat)

2 Agreements Signed to Localize EV Manufacturing in Saudi Arabia

The Local Content and Government Procurement Authority (LCGPA) signed two agreements with CEER National Automotive Co. to localize electric vehicle (EV)…

Asharq Al Awsat (Riyadh)
Business A Riyadh Air Boeing 787-9 Dreamliner is seen before the opening of the 55th International Paris Airshow at Le Bourget Airport near Paris, France, June 13, 2025. (Reuters)

Riyadh Air Opens Bookings for Direct Flights Connecting Saudi Capital with Pakistan, Philippines

Riyadh Air announced on Monday the expansion of its global network in Asia with the launch of new flights connecting Riyadh with Islamabad, Lahore, and Manila…