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 A view of the Saudi capital, Riyadh. (SPA)

Private Sector Fuels Saudi Arabia’s Growth Lead Among G20 Economies

Fueled by a surging private sector and expanding non-oil industries, Saudi Arabia is poised to become the G20’s fastest-growing economy in 2027, overtaking…

Bandar al-Mosalam (Riyadh)
Business King Abdullah Financial District in Riyadh (Asharq Al-Awsat)

Saudi Arabia Leads G20 with 7.9% Growth Forecast in 2027

Saudi Arabia is projected to lead the G20 countries in economic growth forecasts for 2027, according to International Monetary Fund (IMF) estimates. The IMF…

Asharq Al Awsat (Riyadh)
Business  Participants at a previous edition of the Innovation Driven Water Sustainability Conference. (Saudi Water Authority)

Saudi Arabia to Host Global Water Innovation Conference in Jeddah

Saudi Arabia will host water industry experts from more than 140 countries in Jeddah from December 14 to 16 for a conference focused on harnessing innovation…

Saeed al-Abyad (Jeddah)
Business The Saudi capital, Riyadh (SPA)

Arada Enters Saudi Property Market with $13.3 Billion Portfolio

Property developer Arada is entering Saudi Arabia through a partnership with local firm XTOPIA, gaining access to a SAR 50 billion ($13.3 billion) land and…

Bandar al-Mosalam (Riyadh)
Business FILE PHOTO: People walk past the Bank of England building in London, Britain, September 16, 2026. REUTERS/Corey Rudy/File Photo

UK Debt Hits $4.01 Trillion as Inflation Rate Jumps

Britain's government borrowed more than expected again in September and public debt surpassed £3 trillion ($4.01 trillion), according to official data that…

Asharq Al Awsat (London)
Business A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Oct. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

Japan Records Trade Deficit as Oil Imports Soar Due to Mideast War

Japan’s trade deficit reached 2.81 trillion yen ($17.8 billion) for the first fiscal half, according to government data released Wednesday, as the war in Iran…

Asharq Al Awsat
Business The King Abdullah Financial District (KAFD) Station on the Riyadh Metro. (Siemens Mobility)

Saudi Railways Carry 40.9 Million Passengers in Q3 2026

Saudi Arabia's railways transported more than 40.9 million passengers and 3.9 million tons of freight and 46,300 containers in the third quarter of 2026,…

Asharq Al Awsat (Riyadh)
Business A drone view shows fuel vessels docked at the Baniyas oil terminal in Baniyas, Syria, October 12, 2026. REUTERS/Karam al-Masri

Goldman Says High Freight Costs Pose Upside Risk to its Brent Forecast

The global average crude freight rate remains seven times higher than a year ago and is unlikely to fall sharply while the Middle East conflict persists,…

Asharq Al Awsat (London)
Business Gold jewelry displayed at the Korea Gold Exchange store in Seoul (AFP)

Gold Dips for Fourth Session as Oil Rally Fans Inflation Concerns

Gold prices eased for a fourth session on Wednesday as higher oil prices stoked inflationary concerns, while investors looked ahead to next week's Federal…

Asharq Al Awsat
Business A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)

Oil Rises on Middle East Supply Fears, US Inventory Drawdowns

Oil prices gained over $1 on Wednesday as escalating Middle East tensions fueled fears of supply disruptions, while falling US crude and product inventories…

Asharq Al Awsat
Business The UK-GCC Strategic Dialogue Forum was held in London on Tuesday. (UK-GCC Strategic Dialogue Forum)

Gulf, UK Officials Press for Action on Free Trade Deal as Investment Opportunities Beckon

Gulf and British officials on Tuesday called for swift action to translate a free trade agreement into tangible investments and economic gains after concluding…

Najlaa Habriri (London)
Business A trader monitors stocks in Saudi Arabia (Reuters)

Saudi Stock Market Falls to Lowest Close Since April 2021

Saudi Arabia's benchmark Tadawul All Share Index (TASI) ended Tuesday's session down 1.7 percent, shedding 172 points to close at 9,952, its lowest closing…

Asharq Al Awsat (Riyadh)
Business Ferrari's new showroom in the Saudi capital, Riyadh (Asharq Al-Awsat)

Ferrari: Saudi Arabia Has Become a Key Driver of Our Growth in the Middle East

Saudi Arabia has emerged as one of the main drivers of Italian luxury sports carmaker Ferrari's growth in the Middle East, fueled by an expanding population of…

Mosaed al-Zayani (Riyadh)
Business A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)

IEA Ready to Go if Further Oil Stocks Release Needed, Chief Says

The International Energy Agency is ready to go if a further release of oil from members' emergency oil reserves is needed, the agency's top official said on…

Business An oil field in the Kurdistan Region of Iraq (Reuters)

Kurdistan-focused Oil Firms Gulf Keystone, ShaMaran Agree $601 Million Merger

UK-listed Gulf Keystone Petroleum said on Tuesday it will merge with Norway's ShaMaran Petroleum in a $601 million all-share deal, creating one of the largest…

Asharq Al Awsat
Business France's President Emmanuel Macron attends a meeting with the UAE president at Qasr al-Watan presidential palace in Abu Dhabi on October 19, 2026. (Photo by Benoit Tessier / POOL / AFP)

Macron Secures 200,000 Tons of Extra Diesel Per Month from UAE, Bahrain

French President Emmanuel Macron has secured the delivery of an additional 200,000 tons of diesel per month from the United Arab Emirates and Bahrain during a…

Asharq Al Awsat
Business  The logo of Italian oil and gas group Eni is seen on the facade of its headquarters in Rome, Italy, December 23, 2017. (Reuters)

Italy’s Eni to Increase Gas Processing Capacity in Egypt’s Western Desert

Eni will increase its gas processing capacity in Egypt's Western Desert with its Meleiha Phase 2 project, the Italian state-controlled energy group said on…

Business A meeting of the Saudi-French Business Council in Riyadh. (Saudi-French Business Council)

Saudi Arabia Identifies 100 Trade and Investment Opportunities in Global Markets

Saudi Arabia has identified 100 promising trade and investment opportunities across international markets as it seeks to expand economic partnerships and…

Bandar al-Mosalam (Riyadh)
Business An Egyptian jeweller holds gold bars during an interview with Reuters in Cairo, Egypt, March 9, 2026. (Reuters)

Gold Eases as Elevated Oil Prices Keep Inflation Risks in Focus

Gold eased on Tuesday as firmer oil prices heightened inflation concerns, while investors awaited next week's Federal Reserve policy meeting for signals on the…

Business World Bank Group President Ajay Banga gestures during the Annual Meetings Plenary at the 2026 Annual Meetings of the IMF and the World Bank Group in Bangkok, Thailand, 16 October 2026. (EPA)

World Bank Seeks to Boost Connectivity in Developing Countries

The World Bank on Monday announced a new strategy aimed at boosting connectivity and making digital access more affordable in developing countries. "Digital…

Business Oil tanks and chimneys at ExxonMobil refining and petrochemicals platform in Rotterdam, Netherlands April 9, 2026. (Reuters)

Brent Crude Holds Near Five-Month High on Middle East Tension

Oil prices advanced on Tuesday, with Brent hovering around a five-month high as traders priced in a geopolitical risk premium from Houthi attacks on Saudi…

Business A view shows electricity cables attached to a utility pole in Beirut, Lebanon February 18, 2022. (Reuters)

Qatar Plans Two Power Plants for Lebanon and 20-Year LNG Deal

Qatar plans to construct two power plants in Lebanon over the next three years and sign a 20-year liquefied natural gas supply deal under a proposal to revive…

Asharq Al Awsat (Riyadh)
Business Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurates the Saudi Agriculture Exhibition 2026 in Riyadh on Monday. (SPA)

Environment Minister Opens Saudi Agriculture Exhibition 2026

Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurated on Monday the Saudi Agriculture Exhibition 2026, held at the Riyadh…

Business  Buildings line King Fahd Road in the Olaya district of Riyadh, Saudi Arabia, Wednesday, Oct. 14, 2026 (AP)

Saudi Arabia Postpones 10th Edition of Future Investment Initiative to 2027

Saudi Arabia’s Future Investment Initiative (FII) Institute postponed to 2027 the 10th edition of its flagship conference. The event, themed "The Power of…