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 logo of SK Hynix at a SK Hynix booth before a public briefing on the development vision for advanced industry in South Korea's southwestern region, in Gwangju, South Korea, June 30, 2026. (Reuters)

South Korea’s SK Hynix Launching $28 Billion US Listing to Ride Global AI Wave

South Korean chipmaker SK Hynix will launch a US listing on Monday to raise about $28 billion, according to regulatory filings, as it capitalizes on the global…

Business A graduate student majoring in semiconductor engineering demonstrates a PR track at Korea University in Seoul, South Korea, June 11, 2026. REUTERS/Kim Hong-Ji/File Photo 

South Korea to Create Future Fund from Chip Windfall to Spur Growth

South Korea plans to establish a future fund using extra tax revenue generated by a semiconductor boom to invest in growth engines, support for younger…

Asharq Al Awsat (Seoul)
Business An employee displays gold bars at the Korea Gold Exchange store in Seoul (AFP)

Gold Eases from Two-week High as Firmer US Dollar Weighs

Gold retreated after touching its highest level in two weeks on Monday as the US dollar edged up from recent lows, though easing bets on Federal Reserve…

Asharq Al Awsat
Business FILE - Iraqi oil workers at an oil installation at Beiji in northern Iraq Tuesday, February 29, 2000. (AP Photo/Jassim Mohammed, File)

Oil Drifts Down after OPEC+ Agrees to Raise Output Targets

Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of…

Asharq Al Awsat
Business Prince Sultan bin Abdulaziz International Airport in Tabuk, operated by Cluster2 Airports, welcomed the first seasonal direct flight of 2026 from the Russian city of Sochi. (SPA)

Prince Sultan bin Abdulaziz Int'l Airport Welcomes First Seasonal Direct Flight from Russia's Sochi

Prince Sultan bin Abdulaziz International Airport in Tabuk, operated by Cluster2 Airports, welcomed the first seasonal direct flight of 2026 from the Russian…

Asharq Al Awsat
Business This picture shows the Nahr Bin Omar oil field and facility in Iraq's southern port city of Basra on June 14, 2024. (AFP)

Iraq Signs Deal with Oil Services Giant Halliburton

Iraq's government and US oil services giant Halliburton signed a deal Sunday to manage two oil fields in the country's south, as Baghdad looks to boost…

Business The logo of the Organization of Petroleum Exporting Countries (OPEC) is seen at its headquarters in Vienna on June 3, 2023. (AFP)

OPEC+ Approves Further Oil Output Increase

OPEC+ has agreed a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices…

Business A view of a tourist resort in Al-Khobar, Saudi Arabia. (SPA)

Saudi Tourism Gains Momentum in Q1 as Licenses Rise and Workforce Nears One Million

The tourism and hospitality sector in Saudi Arabia showed strong operational dynamism and institutional expansion in the first quarter of 2026, according to…

Business General view of the Saudi capital Riyadh (AFP)

Saudi Arabia’s Non-oil Private Sector Grows in June, New Orders at Four-month High

The latest Riyad Bank Purchasing Managers' Index (PMI), released on Sunday, showed that growth in Saudi Arabia's non-oil private sector accelerated markedly at…

Asharq Al Awsat
Business The "Al-Riqqa" oil tanker sails in the Arabian Gulf waters, off the coast of  Kuwait City on June 27, 2026. (AFP)

Kuwait’s Non-Oil Business Activity Contracts amid Regional Tensions

Kuwait’s non-oil private sector came under renewed pressure in June, as regional tensions and rising prices weighed on demand. The result was a sharper…

Business Workers walk across pipelines at the Rumaila oil field in Basra, Iraq (Reuters)

Iraq Approves Preliminary Agreements to Study Strategic Oil Export Pipeline Projects

Iraq's cabinet approved Basra Oil Company signing "a heads of agreement", or preliminary agreement, and a non-disclosure agreement with a consortium including…

Asharq Al Awsat
Business Minister of Petroleum and Natural Gas Hardeep Singh Puri (C) gestures during his visit at the Golden temple in Amritsar on May 15, 2023. (AFP)

India Eyes Oil Exploration Expansion After Middle East War Shortages

Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister…

Business File photo: Storage tanks of an oil refinery of Essar Oil, which runs India's second biggest private sector refinery, are pictured in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File photo

India Says Will Keep Expanding Oil Refining Capacity

India will continue to build new crude oil refineries in order to ensure supply chain security even as Western nations shut processing units, Prime Minister…

Asharq Al Awsat (New Delhi)
Business The Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)

Egypt Expects €1.5 billion from EU Assistance Package in Coming Days

Egypt expects to receive €1.5 billion ($1.72 billion) from the European Union in the coming days, the first of two remaining tranches of a €5 billion macro…

Asharq Al Awsat
Business Jeddah Corniche stands out as one of the Kingdom's premier destinations for landmark tourism and hospitality developments (SPA).

Saudi Hospitality Boom: 50 Global Brands Race Ahead with $120 Billion in Investments

Saudi Arabia continues to cement its position as one of the fastest-growing hospitality markets in the region and the world, driven by the rapid expansion of…

Bandar al-Mosalam (Riyadh)
Business FILE PHOTO: Flags with the logo of German tyremaker Continental flutter in Korbach, Germany, February 27, 2026. REUTERS/Fabian Bimmer/File Photo

Struggling German Auto Supplier Continental to Sell Unit

German auto supplier Continental announced Saturday a four-billion-euro ($4.6-billion) deal to sell a division to a US investment group, the latest move in a…

Asharq Al Awsat
Business Workers walk across pipelines at the Rumaila oil field in Basra, Iraq (Reuters)

Iraq, Türkiye Discuss Protocol to Keep Oil Exports Flowingy

An Iraqi delegation visited Ankara to discuss the future of the Iraq-Türkiye pipeline agreement and energy cooperation, Iraq's foreign ministry said on Friday,…

Asharq Al Awsat
Business Transshipment containers stacked at the Westhafen container terminal in Berlin, Germany, 01 July 2026. (EPA)

EU Trade with US Hits Record High Despite Tariff Tensions, Study Shows

Trade in goods between the European Union and the US reached a record €875 billion ($1.00 trillion) last year despite tariffs, but the figures mask significant…

Business FILE PHOTO: A pumpjack, used to help lift oil from a well, in the Permian basin near Midland, Texas, US, October 8, 2025. REUTERS/Arathy Somasekhar/File Photo

Oil Prices Little Changed ahead of Long US Weekend as Peace Efforts Hold

Oil prices were little changed on Friday before a long holiday weekend in the US, as traders held on to hopes that attempts to secure peace in the Middle East…

Asharq Al Awsat
Business  Shop-owners display wares at the newly renovated historical Empress Market in Karachi, Pakistan, 01 July 2026. (EPA)

World Food Prices Ease for Second Month in June, UN's FAO Says

World food prices edged lower in June as declines in sugar, cereals and dairy outweighed increases in vegetable oils and meat, the United Nations' Food and…

Business A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. (Reuters)

Gold Heads for First Weekly Rise in Five on Easing Fed Rate-Hike Bets

Gold rose 1% on Friday and was set for its first weekly gain in five, as investors dialed back expectations for US rate hikes following softer-than-expected…

Business President of European Central Bank Christine Lagarde addresses the media during a press conference after an ECB's governing council meeting in Frankfurt, Germany, Thursday, June 11, 2026. (AP Photo/Michael Probst)

ECB's Lagarde Says She Can't Rule Out Early Departure

European ‌Central Bank President Christine Lagarde said it was still possible she could leave before her term ends in late 2027 to weigh in on French…

Asharq Al Awsat
Business Workers deliver water bottles to a restaurant next to Galata bridge on a summer day in Istanbul, Türkiye, June 26, 2026. (AP)

Turkish June Monthly Inflation at 0.99%, Matches Forecast

Turkish consumer price inflation matched expectations in June, with annual inflation easing to 32.11% after two months of faster price growth, data from the…

Business A worker carries out maintenance on the Kirkuk-Ceyhan pipeline, which transports oil from Iraq to Türkiye for export abroad. REUTERS

Türkiye Pressures Iraq to Operate Kirkuk-Ceyhan Pipeline at Full Capacity Before July 27

Baghdad and Ankara are racing to draft a new strategic oil transport agreement as the deadline for a landmark 1973 accord approaches on July 27. High-level…

Saeed Abdulrazek (Ankara)