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 FILE PHOTO: A gas flare burns in the distance at the Rumaila oil field, amid nationwide output cuts following the closure of the Strait of Hormuz, in Basra, Iraq, March 4, 2026. REUTERS/Essam Al-Sudani/File Photo

Iraq's SOMO Offers Big Discounts for Term Basrah Oil in July

Iraq's SOMO has offered wide discounts to its official selling prices to encourage term buyers to lift Basrah crude from its terminal inside the Middle East…

Asharq Al Awsat (Baghdad)
Business FILE PHOTO: A general view of buildings and the Great Pyramids in Cairo, Egypt, March 25, 2026. REUTERS/Mohamed Abd El Ghany/File Photo

IMF Reaches Staff-level Deal with Egypt that Could Unlock $1.6 Billion

The International Monetary Fund said on Monday it had reached a staff-level agreement with Egypt on reviews of two financing arrangements, potentially…

Asharq Al Awsat (Washington)
Business Part of the meetings of Saudi Water Week

Saudi Arabia Introduces New Irrigation Code to Save 2 Billion Cubic Meters of Water Annually

Saudi Arabia is expanding the use of treated wastewater as a strategic resource to support industrial and urban growth, with industrial consumption projected…

Asma al Ghabri (Jeddah)
Business FILE PHOTO: The London skyline is seen with the financial district in the background, in London, Britain, March 25, 2026. REUTERS/Isabel Infantes/File Photo

UK Economy Grows as Expected before Iran War Impact

Britain's economy grew robustly in the first quarter of 2026, official data confirmed on Tuesday, but households were squeezed even before the worst effects of…

Asharq Al Awsat (London)
Business FILE PHOTO: Shell logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Shell Expects 65% Rise in Global LNG Demand by 2050

Global liquefied natural gas demand is expected to rise by around 65% by 2050, driven largely by Asia as countries seek lower-emission alternatives to coal and…

Asharq Al Awsat
Business The SAS pavilion at the Global AI Show in Riyadh. (Asharq Al-Awsat)

Saudi Arabia Emerges as Global AI Hub as Tech Firms Base Regional Operations in Riyadh

Saudi Arabia is no longer preparing for the age of artificial intelligence; it is helping shape it. After designating 2026 as the Year of AI, the Kingdom has…

Dana Aldrees (Riyadh)
Business  A man stands next to a poster of a humanoid robot during the China International Supply Chain Expo (CISCE) in Beijing on June 25, 2026. (AFP)

China Factory Activity Returns to Expansion Riding AI Global Boom

China's factory activity returned to expansion in June, driven by demand for chips, computers and other AI-related products, as robust export orders and front…

Business FILED - 03 June 2024, Berlin: FILE PHOTO - The European Union flag flies in the wind. Photo: Sebastian Gollnow/dpa

EU's Side of US Trade Deal to Come Into Force on July 1

The European Union's side of a trade deal struck with the United States last year, which will remove import duties on many US goods, will come into force on…

Asharq Al Awsat (Brussels)
Business A general view of buildings and homes in the Saudi capital, Riyadh (File photo: Reuters)

Saudi Real Estate Developers Move to Capitalize on New Foreign Ownership Rules

Saudi Arabia's real estate market has entered a new phase of testing the practical impact of the executive regulations governing property ownership by non…

Business FILE PHOTO: A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019.  REUTERS/Florence Lo/Illustration/File Photo

China Imposes New Export Controls, Deepening Japan Row

China put 20 more Japanese organizations on a blacklist Monday over the export of items with both military and civilian possible uses, adding fuel to a months…

Asharq Al Awsat
Business Chinese Commerce Minister Wang Wentao will meet his EU counterpart Maros Sefcovic in Brussels. Pedro PARDO, Annabelle GORDON / AFP/File

EU, China Trade Tensions Loom over Minister Visit

Europe and China will gauge whether trade frictions can be resolved through talks Monday when top EU trade official Maros Sefcovic hosts his Chinese…

Asharq Al Awsat
Business The 'Al-Yarmouk' oil tanker sails in the Arabian Gulf waters, off the coast of Kuwait City on June 27, 2026. (Photo by YASSER AL-ZAYYAT / AFP)

Oil Climbs Following Renewed US, Iran Strikes

Oil prices rose on Monday following days of tit-for-tat strikes by the U.S. and Iran that underscored the fragility of their interim peace deal and again…

Asharq Al Awsat
Business AFP_96Gold bars weighing 1000 grams each are displayed at the Austrian Gold and Silver Refinery _Oegussa_ in Vienna

Gold Slips as Fresh US-Iran Strikes Boost Oil, Fed Rate-hike Bets Weigh

Gold prices eased on Monday as recent US-Iran strikes in the Gulf pushed oil prices higher, while expectations of US Federal Reserve interest rate hikes…

Asharq Al Awsat
Business Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 24, 2026. REUTERS/Stringer

Bousso: Hormuz Oil Exodus Sets Stage for Chaotic Rebalancing Act

Crude prices may ‌be back near levels seen before the Iran war, but the surge in oil exports from the Middle East following the reopening of the Strait of…

Asharq Al Awsat
Business The Jeddah Islamic Port (SPA)

Saudi Arabia's Trade Surplus Exceeds SAR90 Billion in Q1 2026

Saudi Arabia recorded a trade surplus of SAR90.5 billion during the first quarter (Q1) of 2026, marking a year-on-year increase of 43.7%. The surplus increased…

Asharq Al Awsat
Business Saudi-Japanese ministerial roundtable meeting held in January last year (File photo: X)

Japanese Ambassador to Asharq Al-Awsat: Riyadh, Tokyo in Consultations to Strengthen Energy Supply Chains

As international trade faces mounting disruptions, Japan's Ambassador to Saudi Arabia, Yasunari Morino, revealed that Riyadh and Tokyo are engaged in intensive…

Fatehelrahman Yousif (Riyadh)
Business A Cabinet session chaired by President General Joseph Aoun at Baabda Palace (Lebanese Presidency).

Lebanon Under Pressure to Dismantle the Parallel Economy and Exit the FATF Grey List

The decision by the Financial Action Task Force (FATF) to keep Lebanon on its "grey list" of jurisdictions with strategic deficiencies in combating money…

Ali Zeineddine (Beirut)
Business A 1,000-pound note print (X)

Sudan Edges Closer to Currency Split

Sudan’s division is no longer confined to geography, administration and public services. It has begun to touch one of the state’s most sensitive institutions. …

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

Iraq Plans to Raise Oil Production to 7 Million Barrels Per Day

Iraq plans to raise oil production to seven million barrels per day (bpd) within the next three years, Prime Minister Ali al-Zaidi said on Saturday. “We have…

Asharq Al Awsat (Baghdad)
Business Mohammad Yusuf, a farmer, speaks on his phone as he arrives at a fuel station to buy diesel to irrigate his paddy field, but finds none available amid a fuel crisis, in Manikganj, Bangladesh, April 8, 2026. (Reuters)

World Bank Approves $1.1 Billion Emergency Financing for Bangladesh

The World ‌Bank approved $1.1 billion in emergency financing for Bangladesh to help secure food supplies, support vulnerable households and businesses due…

Business US President Donald Trump speaks at a rally to kick off the 16-day Great American State Fair as part of Washington, DC's celebration of the nation's 250th birthday, on the National Mall in Washington, DC, USA, 24 June 2026. (EPA)

Trump Threatens 100% Tax on European Imports if Countries Impose Tax on Digital Services

President Donald Trump on Friday threatened a 100% tax on imports from any country that imposes a tax on digital services from United States companies. In a…

Business APM Terminals' facility at the Port of Los Angeles in California. (Reuters)

US Goods Trade Deficit Hits 14-month High in May as Imports Surge

The US trade deficit in goods swelled to a 14-month high in May as businesses boosted imports, likely to avoid shortages and higher prices related to the…

Asharq Al Awsat
Business British gold bars and sovereign coins on display in a London shop. (Reuters)

Gold Gains as Dollar Weakens; Still on Track for Fourth Straight Weekly Loss

Gold edged higher on Friday as the dollar weakened and expectations of US interest rate hikes eased slightly following inflation data, though prices were still…

Asharq Al Awsat
Business Crude oil storage tanks at the Cushing hub in Oklahoma, USA (Reuters)

Oil Set for Big Weekly Losses as Tankers Exit Strait of Hormuz

Crude prices plunged by about 3% on Friday, on course for steep weekly losses, as more oil tankers exited the Strait of Hormuz, easing supply concerns, even…

Asharq Al Awsat