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: Dark clouds are seen over the building of the European Central Bank (ECB) in Frankfurt, Germany, June 6, 2024. REUTERS/Wolfgang Rattay/File Photo

IMF Cuts 2026 Euro Zone Growth Forecast with Higher Inflation

The International Monetary Fund cut its growth forecast for the euro zone on Thursday and raised its expectation for inflation because of the US-Israeli war on…

Asharq Al Awsat (Washington)
Business Egyptian Prime Minister Mostafa Madbouly. Reuters file photo

Egypt Signs Deal to Transfer Shares in Wataniya 172 Fuel Stations to Taqa Arabia

Egypt signed an agreement on Thursday with Taqa Arabia to transfer ownership of a stake in 172 state-owned Wataniya fuel stations through a newly established…

Asharq Al Awsat (Cairo)
Business  In this picture obtained from Iran's ISNA news agency on June 8, 2026, residents take a dip as cargo and commercial vessels lie at anchor in the Strait of Hormuz off Bandar Abbas. (Photo by Amirhossein KHORGOOEI / ISNA / AFP) /

Hormuz Shock Hits Gulf Economies, Saudi Arabia Takes Center Stage in 2026

The global economy is entering an extremely sensitive phase in 2026 amid escalating geopolitical tensions in the Middle East, which have cast a heavy shadow…

Hala Saghbini (Riyadh)
Business FILE - SpaceX's mega rocket Starship prepares for a test flight from Starbase in Boca Chica, Texas, Monday, Nov. 18, 2024. (AP Photo/Eric Gay, File)

SpaceX on Cusp of Record IPO that Could Make Musk a Trillionaire

SpaceX enters the final stretch Thursday before its expected trading on Wall Street as part of the biggest initial public offering in history, which could…

Asharq Al Awsat
Business FILE PHOTO: Dark clouds are seen over the building of the European Central Bank (ECB) in Frankfurt, Germany, June 6, 2024. REUTERS/Wolfgang Rattay/File Photo

ECB Set for 'Insurance Hike' as Iran War Fans Euro Zone Inflation

The European Central Bank is all but certain to raise interest rates on Thursday in the hope of nipping higher inflation in the bud before a surge in energy…

Asharq Al Awsat
Business A vendor displays gold bracelets for sale at a gold shop in Istanbul's Grand Bazaar (AFP)

Gold Rebounds from 6-month Low; Inflation Data in Focus

Gold prices rebounded from a six-month low on Thursday, as investors bought the metal at bargain prices while awaiting a key US inflation report that could…

Asharq Al Awsat (London)
Business Embraer E195-E2 aircraft parked at the company’s headquarters (EPA)

Embraer Presses Ahead with Saudi Aviation, Defense Partnerships

Brazilian aircraft manufacturer Embraer is pressing ahead with strategic memoranda of understanding signed with Saudi Arabia in 2023, company officials said,…

Abeer Hommadi (Brazil)
Business Saudi and Turkish transport ministers meet to strengthen cooperation (X)

Saudi Arabia, Türkiye Strengthen Supply Chains with Land Corridor Bypassing Maritime Chokepoints

At a time when the near-total closure of the Strait of Hormuz and the escalating U.S.-Iran war have put global supply chains under complex geopolitical strain…

Asharq Al Awsat (Riyadh)
Business Princess Maha bint Mishari bin Abdulaziz Al Saud (Asharq Al-Awsat file photo)

FII Institute Names Princess Maha bint Mishari Al Saud as CEO

The FII institute, run by a global nonprofit foundation of ⁠Saudi sovereign wealth ⁠fund PIF, has named ⁠Princess Maha bint Mishari bin Abdulaziz Al Saud as…

Asharq Al Awsat (Riyadh)
Business People walk past a shop selling football jerseys in Khan el-Khalily Bazar in Cairo on June 9, 2026. (AFP)

Egypt Clears Arrears to Oil and Gas Companies

Egypt's Minister of Petroleum Karim Badawi said on Wednesday that the full settlement of arrears owed to oil and gas partners marked a turning point for the…

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

Saudi Economy Demonstrates Competitive Strength, Expands 3% in First Quarter

Saudi Arabia’s economy has once again demonstrated the strength of its fundamentals and its ability to withstand regional shocks, posting real GDP growth of 3…

Asharq Al Awsat (Riyadh)
Business Men practice kayaking at Titiwangsa Lake against the city skyline in Kuala Lumpur, Malaysia, 08 June 2026.  EPA/FAZRY ISMAIL

Malaysia Says it is Seeking New Sources of Fuel Amid Energy Crunch

Malaysia is seeking new sources of fuel amid a global crunch caused by the war in Iran, though any supplies would need to be able to be processed by the…

Asharq Al Awsat
Business A worker displays a one-kilogram gold bar at a refinery in Sydney (AFP)

Gold Falls to 11-week Low as Oil Rises on Fresh US-Iran Hostilities

Gold fell to an 11-week low on Wednesday, as oil prices rose on renewed hostilities between the US and Iran, fueling concerns about inflation and interest rate…

Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and other officials are seen during the tour of the gold refinery in Astana on Tuesday. (SPA)

Saudi Industry Minister Reviews Gold Processing Technologies at Tau-Ken Altyn Refinery in Kazakhstan

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visited the gold refinery operated by Tau-Ken Altyn in Kazakhstan's capital, Astana, on…

Business Riyadh Air’s new aircraft enters Saudi airspace (X)

Riyadh Air Eyes Gradual Expansion as New Aircraft Arrive

Riyadh Air has completed its structural setup phase and has moved formally into operations, advancing a gradual, carefully planned expansion strategy built…

Mosaed al-Zayani (Riyadh)
Business Al-Jasser and Uraloglu shake hands after signing the MoUs. (X)

Saudi Arabia, Türkiye Sign MoUs on Railway and Logistics Cooperation, Connecting Gulf with Europe

Saudi Arabia and Türkiye have taken a major step toward forming a new regional logistics corridor that could reshape trade flows between the Gulf and Europe. …

Saeed Abdulrazek (Ankara) Asharq Al Awsat (Riyadh)
Business The Saudi Ministry of Industry and Mineral Resources announced the qualification of 24 local and international bidders to participate in Round 10 of the Kingdom’s exploration license competitions. (Asharq Al-Awsat)

Saudi Industry Ministry Qualifies 24 Local, International Bidders for Round 10 Exploration Licenses

Saudi Arabia’s Ministry of Industry and Mineral Resources announced on Tuesday the qualification of 24 local and international bidders, including companies and…

Business Containers and ships are seen at the port in Nanjing, in China's eastern Jingsu province early on June 9, 2026. (AFP)

China Rides AI Wave as Exports Surge Past Forecast

China's export growth accelerated in May, buoyed by robust demand for chips, autos and other high-tech goods fueling the global AI boom, providing policymakers…

Business Türkiye’s Trade Minister Omer Bolat addresses the audience during a signing ceremony in Istanbul, Türkiye, April 29, 2024. (Reuters)

Türkiye, Canada Agree to Launch Exploratory Talks on Free Trade

The trade ministers of Türkiye and Canada have agreed to launch exploratory discussions aimed at concluding a free trade agreement, according to a joint…

Business General view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia, Russia Ink $1.28 Billion Deals to Boost Key Industries

Saudi Arabia and Russia signed 13 strategic agreements and memoranda of understanding on the sidelines of the St. Petersburg International Economic Forum …

Asharq Al Awsat
Business Spanning Saudi Arabia’s western coast, the Arabian Shield is among the world’s oldest geological formations. (SPA)

Unlocking the Shield: Saudi Arabia Expands Global Partnerships in Critical Minerals

Long before Saudi Arabia emerged as an energy powerhouse, geological forces beneath the Earth’s surface were quietly enriching deposits of significant value. …

Asharq Al Awsat
Business A worker operates valves at the Rumaila oil field in Basra (Reuters)

Oil Rises Slightly as Investors Await Clarity after Iran-Israel Halt Attacks

Oil prices inched up in early trade on Tuesday after Iran and Israel left the door open to a possible resumption of attacks on each other, though they had…

Asharq Al Awsat
Business The airport’s architectural design draws inspiration from the historic urban character of Al Wajh - SPA

Red Sea Global Announces Reopening of Al Wajh International Airport

Red Sea Global (RSG) has announced the reopening of Al Wajh International Airport (EJH) in northwestern Saudi Arabia following a comprehensive two-year…

Asharq Al Awsat
Business Two employees of Bupa Arabia pose beside one of the company’s office buildings. (Bupa Arabia website)

Saudi Insurers’ Profits Jump to $251 Million on Investment Boom

Saudi Arabia’s insurance sector is enjoying a period of strong recovery and growing operational stability, driven by the economic momentum generated by Vision…

Mohammed al-Mutairi (Riyadh)