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 Chinese and Russian flags fly at an airport in Tianjin, China August 31, 2025. Sputnik/Vladimir Smirnov/Pool via REUTERS 

China Lines Up Second LNG Terminal For Sanctioned Russian Cargoes

China is preparing a second import terminal to handle liquefied natural gas cargoes from Russia's sanctioned Arctic LNG 2 project, expanding a ‌route that so…

Asharq Al Awsat (Beijing)
Business The Federal Reserve building in Washington. (Reuters)

BofA Expects Fed to Hike Interest Rates 75 Basis Points in 2026

Bank of America (BofA) expects the Federal Reserve to hike interest rates by 75 basis points in 2026, it said on Monday, citing resilient economic data and…

Asharq Al Awsat (Washington )
Business The accomplishment builds on the vital role of Yanbu Commercial Port in strengthening Saudi Arabia's maritime transport system. (SPA)

Yanbu Commercial Port Boosts Operational Efficiency by Serving 11 Vessels Simultaneously

Saudi Arabia’s Yanbu Commercial Port achieved a new operational milestone by successfully serving 11 vessels simultaneously of various sizes and cargo…

Business  Workers sort avocados for export to Chinese markets, at the Sunripe fresh fruits exporters factory in Limuru district of Kiambu County near Nairobi, Kenya June 4, 2026. (Reuters)

IMF Ready to Help Africa Weather Middle East Shock, Says Zeidane

The International Monetary Fund's new Africa chief, Zeine Zeidane, said that conflict in the Middle East has created difficulties for sub-Saharan Africa but…

Business A drone view shows oil trucks arriving from Iraq on their way to the Baniyas oil terminal, Syria, May 14, 2026.  (Reuters)

The High Cost of Hormuz: $37 Billion Shock Exposes Iraq’s Economic Vulnerability

The recent regional war and the closure of the Strait of Hormuz have pushed Iraq’s economy into one of its most serious crises in decades. The massive…

Fadhel al-Nashmi (Baghdad)
Business A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo

Crude Prices Drop, Most Stocks Rise on 'Positive' US-Iran Talks

Oil prices fell Monday on optimism over US-Iran peace talks, with mediators flagging a "roadmap" to a final agreement, while most equities rose thanks to…

Asharq Al Awsat
Business Ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, June 16, 2026. (Reuters)

Gold Rebounds from One-Week Low as Iran Cites Progress in Peace Talks

Gold rebounded from a more than one-week low on Monday, as oil prices fell after Iran cited progress in US-Iran peace talks, though bets of higher interest…

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)

Lebanese Products Return to Saudi Market with Aims to Exceed Pre-2021 Figures

Lebanese products are once again entering the Saudi market, carrying with them more than just goods and commodities; they carry a message of confidence that…

Bandar al-Mosalam (Riyadh)
Business  Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 18, 2026. (Reuters)

More than Oil and Gas: Stranded Fertilizer Ships Reveal Another Side of Hormuz Crisis

The temporary agreement announced by the United States and Iran to end months of conflict and reopen the Strait of Hormuz does not mark an immediate end to a…

Asharq Al Awsat (Riyadh)
Business People take part in the "National Rejoin March IV" to show support for the UK to re-join the European Union in London, Britain 20 June 2026. (EPA)

After the Fracture: How Britain’s Financial Industry Recovered from Brexit

In the buildup to 2016's Brexit referendum, JPMorgan CEO Jamie Dimon said the US bank could shift 4,000 jobs from Britain, joining a chorus of executives who…

Business This photograph taken on June 4, 2026 shows a worker checking the quality of mangoes at an orchard in Hyderabad City, in Pakistan's Sindh province. (AFP)

Pakistan’s Mango Exports Shrink as Middle East War Impacts Linger

Beneath the scorching sun in Pakistan's southern mango belt, laborers balance on tree branches, working at a swift pace to throw the freshly picked fruit into…

Business Iranian Oil Minister Mohsen Paknejad makes a statement following a signing ceremony attended by Russian Energy Minister Sergei Tsivilev in Moscow, Russia, April 25, 2025. REUTERS/Olesya Astakhova

Iran Minister Says Oil Industry to Be Testing Ground for Any Final US-Iran Deal

Iran's oil industry will be a key testing ground for any final peace agreement with the ‌US ‌if Western parties ‌remain ⁠committed to its ⁠spirit, Oil Minister…

Asharq Al Awsat
Business Riyadh International Industry Week 2026 to Kick Off on Sunday

Riyadh International Industry Week 2026 to Kick Off on Sunday

Riyadh International Industry Week 2026 will open Sunday at the Riyadh International Convention and Exhibition Center (RICEC), under the patronage of the…

Asharq Al Awsat
Business A handout picture released by Iraq's Prime Minister's Press Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraq's Prime Minister's Press Office / AFP)

Iraq Projects Oil Production to Return to Pre-war Levels Within Two Months

Iraqi authorities predict oil production will return to peacetime levels "within one to two months", state media reported, after the Middle East war caused…

Asharq Al Awsat
Business An attendant holds a petrol nozzle after refuelling a car at a PetroChina gas station in Beijing, China, March 10, 2026. REUTERS/Florence Lo

China's May Fuel Oil Exports Rise 42% Year-on-year

China's exports of fuel oil, mainly for low-sulphur marine fuel bunkering, rose 42% year-on-year in May, customs data showed on Saturday. Volumes totaled 1…

Asharq Al Awsat
Business The Saudi pavilion reinforced the Kingdom’s position as a leading investment destination in the military industry sector. (Asharq Al-Awsat)

Saudi Arabia Expands Investment Prospects in Military Industries

Saudi Arabia used the Eurosatory 2026 defense and security show to open new investment horizons, showcasing promising opportunities and a regulatory…

Asharq Al Awsat (Paris)
Business Technicians working at the Majnoon oil field in Basra, Iraq. (Reuters)

Iraq Raises Southern Oil Output to 1.75 Million bpd

Iraq has increased crude oil production from its southern fields by 250,000 barrels per day to around 1.75 million barrels per day as more tankers load crude…

Asharq Al Awsat
Business The minister's participation in the leading global forum aims to underline the global success story of Saudi Arabia's tourism sector - SPA

Saudi Arabia Showcases Tourism Success at FII Europe Summit

Minister of Tourism Ahmed Al-Khateeb participated in the FII PRIORITY Europe Summit, held in Rome from June 17 to 19, 2026, where he showcased Saudi Arabia's…

Asharq Al Awsat
Business FILED - 16 March 2023, Bavaria, Munich: FILE PHOTO - Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. Photo: Sven Hoppe/dpa

Gold Heads for Third Weekly Loss on Firm Dollar, Hawkish Fed Signals

Gold prices were on track for a third consecutive weekly fall, slipping more than 1% on Friday, as a stronger dollar and hawkish signals from the US Federal…

Asharq Al Awsat
Business FILE PHOTO: A drone view shows a land that was planted with wheat and has been harvested, in Qamishli, Syria August 12, 2025. REUTERS/Orhan Qereman/File Photo

Syria's Wheat Harvest Expected to More Than Double this Year

Syria's wheat production is expected to more than double this year, authorities said, bolstered by heavier rains and the state's recapture of a northeastern…

Asharq Al Awsat
Business A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo

Iraq to Export Crude, Naphtha through Syria after Hormuz Shock

Iraq is preparing to export crude oil and naphtha through ports in Syria, Syrian and Iraqi energy officials and refinery sources said after the Iran war cut…

Business A boat sails in the Gulf waters as the sun sets behind Kuwait City's landmark Kuwait Towers on June 9, 2026. (Photo by YASSER AL-ZAYYAT / AFP)

Kuwait Offers Crude for July Delivery after Lifting Force Majeure

Kuwait Petroleum Corp is offering crude for July delivery via a tender, a document showed on Friday, after lifting force majeure and announcing plans to ramp…

Asharq Al Awsat (Kuwait)
Business The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 18, 2026.  REUTERS/staff

Stocks Rally Falters, Oil Rises as US-Iran Talks Postponed

Stock markets were mixed on Friday and oil prices rose after Switzerland said planned talks following up on the US-Iran agreement had been postponed, dealing a…

Asharq Al Awsat
Business Skyscrapers and office buildings in the City of London are pictured from Hampstead Heath in north London on June 18, 2026. (Photo by Toby Shepheard / AFP)

UK Runs Much Bigger Than Expected Budget Deficit in May

Britain's government ran a budget deficit of £23.3 billion pounds ($30.7 billion) in May, the Office for National Statistics said on Friday, up 30% on a year…

Asharq Al Awsat (London)