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 The Amazon logo outside an Amazon warehouse in Manchester, Britain, October 28, 2025. (Reuters)

Amazon Enters $3 Trillion Club as AI, Cloud Growth Power Rally

‌Amazon's market value topped $3 trillion for the first time on Monday, helped by a sharp rally following strong earnings and signs that the AI boom is…

Business Turkish Central Bank (Reuters)

Türkiye's July Trade Deficit Widens 14% Year-on-year

Türkiye's trade deficit widened 14% year-on-year in July to reach $7.3 billion, Trade Minister Omer Bolat said on Monday, Reuters reported. Bolat said…

Asharq Al Awsat
Business British gold Sovereign bars and coins are displayed at Baird & Co.'s headquarters in Hatton Garden, London (Reuters)

Gold Gains as US Dollar Declines, Hopes of Mideast Deal Hit Oil

Gold prices gained on Monday as the dollar weakened and optimism over a possible US-Iran agreement sent oil prices sharply lower, tempering inflation fears and…

Asharq Al Awsat
Business European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, March 19, 2026. (Reuters)

Iran War Hit Euro Zone Consumption Especially Hard, ECB Says

Euro zone ‌household consumption fell sharply in the early weeks of the Iran war as confidence tumbled, suggesting that renewed conflict could again…

Business A view of the Gaslog Salem vessel at sea off the coast of Geoje, South Gyeongsang Province, South Korea, February 7, 2015. Vladimir Tonic/Handout via REUTERS/File Photo

Greek Shipper GasLog Says LNG Tanker Stable after Strait of Hormuz Incident

A liquefied natural gas vessel controlled by Greek shipping company GasLog was stable after an incident while exiting the Strait of Hormuz, with everyone on…

Asharq Al Awsat
Business Technicians work on a Cobra II, armored personnel carrier, at a production line at Türkiye's heavy commercial and armored vehicle manufacturer Otokar factory in Arifiye, a town in Sakarya province, Türkiye, July 13, 2023. REUTERS/Umit Bektas/File Photo

Turkish Manufacturing Contracts Slightly in July, PMI Shows

Tü‌rkiye’s manufacturing sector contracted again in July as subdued market conditions and weaker domestic and international demand led firms to cut output…

Asharq Al Awsat
Business Aseer’s unique natural landscape and growing influx of visitors are enhancing the region’s appeal to investors in the tourism sector. (SPA)

Saudi Arabia’s Aseer Expands Tourism Investment Through Infrastructure and Air Connectivity

Saudi Arabia’s Aseer region is no longer relying solely on its natural beauty. Instead, it is building an integrated tourism economy led by the Aseer Region…

Saeed al-Abyad (Jeddah)
Business With the acquisition, SAL expands its network and gains a direct operating base at Liège Airport in Belgium. (SAL)

Saudi SAL Logistics Acquires Aviapartner Liège in First International Expansion

Saudi SAL Logistics Services Company on Sunday announced the completion of its acquisition of 100% of the share capital of Aviapartner Liège SA, marking SAL’s…

Asharq Al Awsat (Riyadh)
Business File photo: Oil storage tanks in Hong Kong (dpa)

Oil Tumbles as Trump Cancels Attack on Iran to Reach Nuclear Deal

Oil prices tumbled more than $4 a barrel on Monday after US President Donald Trump held off on a fresh attack on Iran, seeking to reach a quick deal that would…

Asharq Al Awsat
Business The OPEC logo is seen in this illustration taken June 25, 2026. (Reuters)

OPEC+ Agrees September Oil Hike

OPEC+ approved an oil production quota increase on Sunday of around 188,000 barrels per day from September, the producer group said, in a move that completes…

Business  A Chinese woman uses an umbrella to shield herself from the sun, in Beijing, China, Saturday, Aug. 1, 2026. (AP)

China’s Central Bank Pledges Timely Policy Tool Adjustment

China's central bank pledged to adjust monetary policy tools in a timely manner and facilitate panda bond issuance, a statement showed on Sunday. The People…

Business A general view of Riyadh city in the early evening hours (Reuters)

Saudi Telecom Companies Post Record Revenue

Saudi Arabia’s listed telecommunications companies generated record first-half 2026 revenue of SAR55.53 billion ($14.8 billion), up 3.59 percent year on year,…

Mohammed al-Mutairi (Riyadh)
Business A general view at Türkiye Mediterranean port of Ceyhan. REUTERS/Umit Bektas/ File Photo

Türkiye, Iraq Sign One-year Oil Pipeline Deal

Türkiye and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the two countries, Turkish Energy Minister Alparslan…

Asharq Al Awsat
Business The Saudi-US agreement opens new avenues for bilateral cooperation (Internet).

Analysts: Saudi-US Nuclear Deal Offers Strategic Gains for Both Sides

The civil nuclear cooperation agreement between Saudi Arabia and the United States is expected to usher in a new phase of economic and technological…

Fatehelrahman Yousif (Riyadh)
Business An aerial view shows the artificial islands at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan October 16, 2013. (Reuters)

Kazakh Energy Ministry: Full Stoppage of CPC Not Under Consideration

Kazakhstan's energy ministry said on Saturday that a complete stoppage of the Caspian Pipeline Consortium's operations was not being considered and that the…

Asharq Al Awsat
Business The government considers the Fund's report a testament to economic performance (Reuters)

New IMF Funding Consolidates Egyptian Economy Against Growing Regional Turbulence

Egypt is counting on the disbursement of new funding from the International Monetary Fund to help shield its economy from escalating regional instability,…

Asharq Al Awsat (Cairo)
Business FILE PHOTO: BP CEO appointee Meg O'Neill attends a meeting, hosted by Britain's Prime Minister Keir Starmer, to discuss the US-Israeli conflict with Iran and the impact on the Strait of Hormuz, in London, Britain, March 30, 2026. REUTERS/Jaimi Joy/Pool/File Photo

BP Puts UK North Sea Oil and Gas Assets Up for Sale as CEO Pushes Overhaul

BP wants to sell its British oil and gas fields in the North Sea which could fetch more than $2 billion, according to estimates, as new Chief Executive Officer…

Asharq Al Awsat (London)
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 Expands to Southeast Asia with Direct Flights to Kuala Lumpur

Riyadh Air, the Kingdom’s national carrier and a Public Investment Fund (PIF) company, has launched its inaugural direct flight to Kuala Lumpur, marking its…

Asharq Al Awsat
Business FILE PHOTO: Gold necklaces are on display inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India April 18, 2018. REUTERS/Francis Mascarenhas/File Photo

Gold Retreats but Poised to End Best Month since February

Gold slid 2% on Friday as the US dollar rebounded from a more than one-month low hit in the previous session, though the metal was still on track for its first…

Asharq Al Awsat
Business FILE PHOTO: Amazon logo outside an Amazon warehouse in Manchester, Britain, October 28, 2025. REUTERS/Phil Noble/File Photo

Amazon Lifts Investment Plans after Strong Cloud Sales; Shares Jump

Amazon delivered its strongest cloud growth in more than four years and raised its annual capital spending forecast, bolstering its argument that heavy…

Asharq Al Awsat
Business The full moon known as the "Buck Moon" rises over residential buildings in the capital city of Cairo, Egypt, July 29, 2026. (Reuters)

IMF Completes Egypt Reviews, Unlocks $1.8 Billion

The International Monetary Fund said on Thursday it completed two reviews of some facilities for Egypt, giving the country access to about $1.8 billion. …

Business The new floating terminal for liquefied gas boosts Croatia's import capacity. DENIS LOVROVIC / AFP/File

US Eyes European Gas Dominance through Balkans

As Europe weans itself off Russian energy, Washington is fast emerging as its largest gas supplier, with experts suggesting Croatia's Adriatic gas terminal…

Asharq Al Awsat
Business A view of Riyadh’s Financial District from the metro. (SPA)

Analysts to Asharq Al-Awsat: Policy Flexibility Strengthens Saudi Arabia’s Ability to Withstand Shocks

The International Monetary Fund (IMF) has raised its forecast for Saudi Arabia’s economy, projecting GDP growth of 5.5 percent in 2027, supported by a recovery…

Abeer Hommadi (Riyadh)
Business An old oil pump is pictured in Boca de Jaruco, Matabeque Province, Cuba on July 29, 2026. (AFP)

Oil Falls More Than $1 on Greater Flows Despite US-Iran War

Oil prices fell ‌on Friday but kept on track for a monthly rise of about a fifth, as more supplies flowed through crucial maritime chokepoints, despite a…