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 President Donald Trump speaks after casting his early-voting ballot for the 2026 midterm elections at the Palm Beach County Library in West Palm Beach, Fla., Saturday, Oct. 24, 2026. (AP Photo/Mark Schiefelbein)

Trump Says Canada Trade Deal Coming 'Soon'

A trade agreement between the United States and Canada would be reached "pretty soon," President Donald Trump told a campaign rally on Sunday, nine days ahead…

Asharq Al Awsat
Business  Saudi Arabia's Energy Minister Prince Abdulaziz ‌bin Salman Al-Saud speaks in a video recording at the conference. (X)

Saudi Arabia to Store Oil in Singapore to Bolster Asia Supply Security Starting 2027

Saudi Arabia plans to store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027 to strengthen supply security in the region, energy…

Business  21 October 2026, United Kingdom, London: Britain's Prime Minister Andy Burnham leaves 10 Downing Street to attend Prime Minister's Questions at the Houses of Parliament. (dpa)

UK’s Burnham Says He Is Open to Discussing EU Free Movement

British Prime Minister Andy Burnham has said he wants a discussion about returning to the European Union's freedom of movement rules for workers, a key issue…

Business  A Jetstar aircraft departs on the inaugural commercial service from the newly-opened Western Sydney International Airport in Sydney on October 25, 2026, marking the start of regular passenger operations at Australia's newest international gateway. (AFP)

Sydney’s New International Airport Opens to Passengers

Sydney's new ‌A$5.6 billion ($3.94 billion) airport opened to passengers on Sunday after more than a decade of planning, in what Prime Minister Anthony…

Business US President Donald Trump looks on as CEO of Audi AG Gernot Dollner speaks at a midterm election campaign rally at Guardian Centers of Georgia in Perry, Georgia on October 24, 2026. (AFP)

Trump Says Audi to Invest $4.2 Bn in Its First US Auto Plant

US President Donald Trump announced on Saturday that German automaker Audi planned to invest $4.2 billion to build its first factory in the United States that…

Business A Bahri vessel (company website).

Saudi Arabia’s Bahri Signs $451 Million Deal to Build Three VLCCs

The national shipping carrier of Saudi Arabia, Bahri, has signed a contract with International Maritime Industries (IMI) to build and deliver three very large…

Asharq Al Awsat (Riyadh)
Business Egyptian Petroleum Minister inspects the start of drilling operations at the Nargis gas field in the Mediterranean Sea (Ministry of Petroleum)

Egypt: Positive Results from Nargis-2 Natural Gas Well in Mediterranean

Egypt's Ministry of Petroleum and Mineral Resources and US energy major Chevron announced Saturday positive results from drilling the Nargis-2 natural gas well…

Asharq Al Awsat (Cairo)
Business NEW YORK, NEW YORK - OCTOBER 21: Traders work on the floor of the New York Stock Exchange during morning trading on October 21, 2026 in New York City. Michael M. Santiago/Getty Images/AFP

Global Equity Funds Attract Inflows for 5th Consecutive Week

Global equity funds attracted inflows for a fifth consecutive week in the week through October 21, as easing Treasury yields and strong early corporate…

Asharq Al Awsat (London)
Business FILE PHOTO: The words "AI Artificial Intelligence", a keyboard, and a robotics hand in this illustration taken October 19, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

UK Pledges More Funding to Guard Against AI Risks

The UK government on Saturday outlined plans to expand funding for artificial intelligence safety amid growing concerns over the cyber risks posed by the…

Asharq Al Awsat (London)
Business President Donald Trump arrives on Air Force One, Friday, Oct. 23, 2026, at President Donald J. Trump International Airport in West Palm Beach, Fla. (AP Photo/Mark Schiefelbein)

Trump Lifts Some Canada Tariffs Ahead of Midterms

President Donald Trump's administration lifted some tariffs on Canadian imports Friday, two weeks ahead of midterm elections, after a vulnerable Republican…

Asharq Al Awsat (Washington)
Business The Saudi flag. Asharq Al-Awsat

Saudi Arabia Ranks First in GCC, 12th Globally in 2026 Marsh CFA Institute Global Pension Index

The Kingdom of Saudi Arabia ranked first among GCC states and 12th globally out of 55 pension systems in the 2026 Marsh CFA Institute Global Pension Index. The…

Asharq Al Awsat
Business People look at their phones in a touristic area in Beijing, China, 22 October 2026. (EPA)

China’s January-September Fiscal Revenue up 5.1% y/y

China's fiscal revenue increased 5.1% in the first nine months of 2026 from a year earlier, following a gain of 5.7% in the January-August period, the finance…

Business  A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Oct. 22, 2026, in Tokyo. (AP)

Asian Stocks Mixed Ahead of Weekend as Tech Recovers Early Losses

Asian equities were mixed Friday as tech firms managed to claw back some early losses on bargain-buying at the end of tough week for the sector, while…

Business British gold bars and Sovereign gold coins are displayed at Baird & Co. in Hatton Garden, London (Reuters)

Gold Heads for Steep Weekly Loss as Oil Prices Fuel Fed Rate Concerns

Gold eased on Friday, headed for its steepest weekly decline in over four months as elevated oil prices bolstered higher-for-longer interest rate expectations,…

Asharq Al Awsat
Business  Britain's Prime Minister Andy Burnham meets pharmacy staff before receiving an annual seasonal flu vaccination at Kapoor Pharmacy Services in Chorlton-cum-Hardy in Manchester on October 22, 2026. (AFP)

UK Govt Promises to Save Businesses £800 Million in Paperwork and Tariffs

British ‌Prime Minister Andy Burnham said on Friday his government would help businesses save almost £800 million ($1 billion) a year by cutting back on…

Business Oil pumps operate after sunset outside Vaudoy-en-Brie, near Paris, France, March 18, 2026. (Reuters)

Oil Prices Rise as Supply Concerns Linger amid Middle East Attacks

Oil prices rose on Friday after Houthi attacks in Saudi Arabia stoked concerns of further disruption to energy supplies from the Middle East. Brent crude…

Business A panel discussion featuring Professor Waheed Sami Abu Shanab (Conference)

Port Security and Trade Continuity: A New Formula for Saudi Competitiveness

Port competitiveness is no longer just about handling more ships and containers. Keeping trade moving and infrastructure secure against physical and cyber…

Asma al Ghabri (Jeddah)
Business Central Bank of Türkiye (Official Website)

Türkiye Cuts Key Interest Rate to 36%, First Cut in Months

Türkiye's central bank cut its key interest rate on Thursday to 36 percent in the first cut in nine months, pointing to a recent slowdown in inflation. At a…

Business A person stands in front of a screen showing falling stock prices (Reuters)

Saudi Stock Market Drops 2.3% to Lowest Close Since 2021

Saudi Arabia's benchmark stock index ended Thursday's session down 2.3 percent, shedding 231 points to close at 9,696, its lowest closing level since 2021,…

Asharq Al Awsat (Riyadh)
Business Barclays says the job cuts are due to AI efficiencies. Paul ELLIS / AFP/File

Barclays Bank to Cut about 5,000 Jobs amid AI Drive

British bank Barclays announced Thursday plans to cut around 5,000 jobs, or roughly five percent of its global workforce, by the end of 2026 in an AI…

Asharq Al Awsat
Business A view shows the building of Norway’s central bank (Norges Bank) in Oslo, Norway, June 23, 2022. REUTERS/Victoria Klesty/ File Photo

Norway Sovereign Wealth Fund Loses Over $30 Bn in 3rd Quarter

Norway's sovereign wealth fund, the world's largest with assets of more than $2 trillion, on Thursday reported a negative return of 278 billion kroner ($31…

Asharq Al Awsat
Business King Fahd Highway in Riyadh (SPA)

IMF: Non-Oil Activities Bolster Saudi Economy’s Resilience to Disruptions

The International Monetary Fund’s outlook for the Saudi economy points to promising prospects for recovery and growth, despite pressures from regional…

Asharq Al Awsat (Riyadh)
Business IMF Middle East and Central Asia Department Director Jihad Azour speaks during the Regional Economic Outlook for the Middle East and Central Asia press briefing at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 15, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

IMF Says 2027 Recovery in Middle East Hinges on Easing Conflict, Resumption of Trade

Jihad Azour, director of the International Monetary Fund’s Middle East and Central Asia Department, said the war in the Middle East was weighing on the region…

Asharq Al Awsat (Dubai)
Business Transport General Authority President Fawaz Alsahli tours the exhibition held alongside the conference in Jeddah (Transport General Authority)

Saudi Transport Authority: Maritime Sector Proved Resilient Amid Global Trade Disruptions

Saudi Arabia’s maritime sector has remained resilient amid disruptions to global trade and shipping in 2026, with the kingdom weathering the upheaval with…

Asma al Ghabri (Jeddah)