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 This photograph shows a view of one of Kuwait's first Q8 fuel station ahead of its official inauguration in Kuwait City on July 2, 2026. (Photo by YASSER AL-ZAYYAT / AFP)

Kuwait's KPC Asks Some Oil Pipeline Bidders to Form Consortiums

Kuwait Petroleum Corporation is asking some global funds bidding for a $7 billion stake in its oil pipeline network to recruit other investors to help…

Asharq Al Awsat (Kuwait)
Business Armenian Prime Minister Nikol Pashinyan and European Commission President Ursula von der Leyen hold a joint press conference following their talks in Yerevan on July 2, 2026. (Photo by Karen MINASYAN / AFP)

EU Tells Armenia 'You Can Count on Us' as Russia Keeps Up Economic Pressure

The European Union pledged an additional €18 million in economic support for Armenia on Thursday and liberalized some export rules for its goods as Brussels…

Asharq Al Awsat
Business This photo taken on June 27, 2026, shows a young girl riding an electric motorbike with a child passing by a mural depicting a teacher welcoming children to school in Hanoi.(Photo by Nhac NGUYEN / AFP)

EFTA Successfully Concludes Free Trade Deal Talks with Vietnam

The European Free Trade Association said on Thursday it has successfully concluded negotiations with Vietnam on a free trade agreement, as its members seek to…

Asharq Al Awsat
Business The launch of the flight is part of plans to expand the seasonal destinations served by Al-Ahsa International Airport  - SPA

Al-Ahsa Launches First Seasonal Direct Flight to Türkiye's Rize

Under the patronage of Governor of Al-Ahsa and CEO of the Al-Ahsa Development Authority Prince Saud bin Talal bin Badr, the first seasonal direct flight for…

Asharq Al Awsat
Business Jeddah Corniche in western Saudi Arabia and nearby neighborhoods (SPA)

Asharq Al-Awsat Reveals Details of Executive Regulations for Non-Saudi Property Ownership

The executive regulations governing non-Saudi ownership of real estate are beginning to take shape, placing transparency and financial integrity at the…

Bandar al-Mosalam (Riyadh)
Business A man looks at a stock screen at the Kuwait Stock Exchange (AFP)

Gulf Stocks Little Changed as Markets Await Outcome of US-Iran Talks

Most Gulf stock markets saw limited trading early on Thursday, after the United States and Iran concluded a new round of indirect talks in Doha with no…

Asharq Al Awsat
Business FILED - 14 January 2020, Iraq, Baghdad: FILE PHOTO - US Dollars banknotes are pictured at a currency exchange service provider. Photo: Ameer Al Mohammedaw/dpa

US Reportedly Resumes Dollar Transfers to Iraq

The United States has resumed some air shipments of US dollars to Iraq, several months after suspending them, the New York Times reported on Thursday, citing…

Asharq Al Awsat (Washington)
Business Japan's Prime Minister Sanae Takaichi (L) listens as India's Prime Minister Narendra Modi speaks during their joint press statements after their meeting at the Hyderabad House in New Delhi on July 2, 2026. (Photo by Sajjad HUSSAIN / AFP)

India, Japan Sign Pacts on AI, Metals, and Energy after Modi-Takaichi Talks

India and Japan signed pacts on Thursday to boost their cooperation in artificial intelligence, metals, energy, and prepared a joint roadmap for economic…

Asharq Al Awsat
Business FILE PHOTO: OpenAI logo is seen in this illustration taken June 11, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

OpenAI Reportedly Proposes Handing Trump Administration 5% Stake

OpenAI has discussed giving the US government a 5% stake, the Financial Times reported on Thursday, as AI firms face growing scrutiny in Washington over the…

Asharq Al Awsat (Washington )
Business US Trade Representative Jamieson Greer talks with Mexico's Economy Minister Marcelo Ebrard, amid talks to review the US-Mexico-Canada trade pact, in Mexico City, Mexico, on April 20, 2026. RAQUEL CUNHA / REUTERS 

US Won't Renew Trade Deal with Mexico and Canada

The US administration on Wednesday said it will not renew the expired trilateral trade pact with Canada and Mexico known as USMCA, reiterating its commitment…

Asharq Al Awsat (Washington)
Business 3D-printed oil pump jacks and the Shell plc logo appear in this illustration taken March 2, 2026. REUTERS/Dado Ruvic/Illustration 

Shell to Sell Gulf of America Assets to Two Companies for $1.7 billion

Shell said on Tuesday it had agreed to sell its interest in the Na Kika platform and associated fields in the Gulf of America, along ‌with the Coulomb tieback,…

Asharq Al Awsat (London)
Business President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej. (SPA)

Saudi Arabia Retains ACAO Executive Council Seat for 2026-2028

The General Assembly of the Arab Civil Aviation Organization (ACAO) has renewed Saudi Arabia's membership on the ACAO Executive Council for the 2026–2028 term,…

Asharq Al Awsat
Business Saudi Arabia has stressed that digital transformation in the water sector has become a necessity. (SPA)

Saudi Arabia Underscores Importance of Digital Transformation in Water Sector

Saudi Arabia has stressed that digital transformation in the water sector has become an economic, environmental, and national imperative that enhances water…

Asharq Al Awsat
Business  Saudi Ambassador to Beirut Fahd Al-Dosari and officials from both countries at Beirut port at the launch of Lebanese exports to Saudi Arabia. (SPA)

Saudi Arabia Encourages Companies to Import Lebanese Products After Royal Order

Saudi Arabia has officially begun encouraging its private sector to import Lebanese goods, a concrete step to revive trade between the two countries after…

Bandar al-Mosalam (Riyadh)
Business A general view of Türkiye's Mediterranean port of Ceyhan, Adana, southern Türkiye, Feb. 19, 2014. (Reuters)

Türkiye and Iraq Discuss Energy Cooperation Ahead of Pipeline Deal Expiry

Türkiye's ‌Energy Minister Alparslan Bayraktar said on Wednesday that he met senior Iraqi oil and foreign ministry officials to discuss energy cooperation…

Business Gold bracelets and necklaces displayed for sale in a gold shop at Istanbul's Grand Bazaar (AFP)

Gold Falls as Higher Treasury Yields, Fed Rate Hike Bets Weigh

Gold fell for a third consecutive session on Wednesday, as rising US Treasury yields and growing bets that the Federal Reserve will raise interest rates…

Asharq Al Awsat
Business  A full moon rises over the Galata Tower in Istanbul, Türkiye, June 29, 2026. (Reuters)

Turkish Manufacturing Contracts, Hit by Iran War Disruption, PMI Shows

Türkiye's manufacturing ‌sector contracted in June as the war in the Middle East disrupted demand and supply, a business survey showed on Wednesday. The…

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 Edges Higher as Breakdown in Iran-US Talks Raises Supply Concerns

Oil prices ticked higher on Wednesday on concerns a breakdown in talks between Iran and the US for a final agreement to end their war may extend supply…

Asharq Al Awsat
Business A Boeing 737 MAX 8 operated by Oman Air, on the tarmac at Muscat International Airport, amid the US-Israeli conflict with Iran, in Muscat, Oman, March 13, 2026. (Reuters)

Oman Air Targets Tourists on New Singapore Route, Eyes North Asia Expansion

Oman ‌Air is looking to capitalize on the Gulf state's appeal as a largely untapped tourism destination as it launches flights from Muscat to Singapore on…

Business A traffic police stands guard on a street in Beijing's Central Business District (CBD) in Beijing, China, 22 June 2026. (EPA)

China Imposes ‘National Security’ Rules on Overseas Investments

China is intensifying its scrutiny of investments overseas with broad "national security" regulations taking effect from Wednesday, at a time of rising tech…

Business Saudi women employed by the Ministry of Health perform their duties during the Hajj season (SPA). 

Labor Market Reforms Drive Saudi Unemployment to Historic Lows

Reducing unemployment in Saudi Arabia has evolved from a Vision 2030 target into one of the clearest indicators of the Kingdom’s economic transformation. …

Bandar al-Mosalam (Riyadh)
Business The Public Investment Fund Tower at King Abdullah Financial District. (PIF)

Saudi PIF Operating Profit Doubles, Assets Hit $1.21 Trillion

Saudi Arabia’s Public Investment Fund has put its 2025 financial performance under the spotlight of global markets, publishing its audited consolidated…

Asharq Al Awsat (Riyadh)
Business Riyadh Air Adds Malaga, Kuala Lumpur to International Network

Riyadh Air Adds Malaga, Kuala Lumpur to International Network

Riyadh Air, Saudi Arabia's new national carrier and a subsidiary of the Public Investment Fund, announced on Tuesday the addition of two new destinations to…

Business Representatives of ExxonMobil and QatarEnergy sign an agreement with Cyprus declaring gas in two offshore fields marketable, paving the way for further development of offshore gas reserves in the eastern Mediterranean, at the Presidential Palace in Nicosia, Cyprus June 30, 2026. (Reuters)

Cyprus, Energy Giants Declare Gas Fields Commercially Viable

Cyprus, ExxonMobil and QatarEnergy on Tuesday declared natural gas fields discovered off the Mediterranean island nation to be commercially viable, with a 2033…