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 The Saudi capital (SPA) 

Saudi Fund for Development Moves to Globalize Private Sector, Expand Local Content Abroad

The Saudi Fund for Development (SFD) is intensifying strategic efforts to integrate Saudi private-sector companies into major international development…

Bandar al-Mosalam (Riyadh)
Business Supporters wave Turkish national flags as the leader of Republican People's Party (CHP) delivers a speech during a protest against allegations of vote buying at the CHP congress in November 2023, at their party headquarters in Ankara on May 22, 2026. (AFP)

Turkish Economy Expands 2.5% in Q1, Pace of Growth Slows Further

Türkiye's economy grew 2.5% year-on-year in the first quarter, slightly below poll forecasts according to official data on Monday, with growth slowing for a…

Business  A monument featuring a stylized molecular structure stands outside the office building of China Northern Rare Earth Group, with the Chinese characters “Build a world-class” inscribed on its base, in the country’s industry hub city Baotou, China, April 6, 2026. (Reuters)

A Bachelor’s in Rare Earths? In China, There Are Schools for That

Every year, several hundred young adults head to the steppes of northern China to learn about rare earths at schools like the Inner Mongolia University of…

Business Lights illuminate an oil refinery in Carson, Calif., May 29, 2024. (AP)

Oil Rises as US and Iran Trade Strikes, Israel Moves Further into Lebanon

Oil prices rose more than 2% on Monday after Iran and the US traded strikes and Israel ordered troops to move further into Lebanon in the battle with the…

Business SpaceX logo and Elon Musk photo are seen in this illustration taken, December 19, 2022. (Reuters)

Kingdom Holding’s Share Jumps 10% After Revealing Billions Stake in SpaceX

Shares of Saudi Arabia’s Kingdom Holding on Sunday surged by 10% to 13.58 Saudi riyals, hitting their highest closing price in a decade. The trading volume…

Asharq Al Awsat (Riyadh)
Business The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025. REUTERS/Issei Kato/File Photo

SoftBank Pledges $81 Billion to Build Biggest AI Facility in France

Japan's SoftBank Group has pledged to invest up to €75 billion ($81 billion) in a vast network of AI computing clusters in France, backing what would be Europe…

Asharq Al Awsat (Paris)
Business A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, June 1, 2026. (AP Photo/Ahn Young-joon)

Asian Equities ahead, Oil Rises as Uncertainty Surrounds US-Iran Talks

Oil rose while Asian equities firmed Monday as a surge in artificial intelligence-linked stocks helped offset uncertainty over US-Iran talks. Gains in tech…

Asharq Al Awsat
Business Photo showing one of Mutlaq Al-Ghowairi Contracting Co.'s projects. (Company website)

Saudi Arabia's Mutlaq Al-Ghowairi Contracting Sets IPO Price Range at $2.9-$3.3 per Share

Saudi Arabia's Mutlaq Al-Ghowairi Contracting Co. has set the price range for its initial public offering (IPO) at between 11 riyals ($2.9) and 12.5 riyals ($3…

Asharq Al Awsat
Business A man monitors stock movements on the Saudi stock market. (AFP)

Saudi Market Closes Up 0.5%, Kingdom Holding Shares Jump 10%

Saudi Arabia's benchmark stock index (TASI) ended its first trading session following the Eid al-Adha holiday up 0.5 percent at 11,078 points, with total…

Asharq Al Awsat
Business  NHC Chief Executive Mohammed Albuty speaks during a panel discussion (company website)

Saudi National Housing Company... From an 'Executive Arm' to the Largest Real Estate Developer in the Region

Saudi Arabia’s National Housing Company (NHC) has emerged as a central force in reshaping the Kingdom’s housing market, evolving from a state-backed developer…

Asharq Al Awsat (Riyadh)
Business People enter the Central Bank of Sri Lanka headquarters in Colombo, Sri Lanka, May 26, 2026. REUTERS/Akila Jayawardena

Sri Lanka Raise Fuel Prices after IMF Loan Instalment

Sri Lanka raised fuel prices by up to six percent on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilize the economy. …

Asharq Al Awsat
Business  Worker use a forklift to transfer goods at the Xiaomi logistic center, in Beijing, China on Friday, May 29, 2026. (AP)

European Commission Vows Tougher Action on Trade with China

The EU's trade and investment relationship with China is "not sustainable", the European Commission said on Friday, vowing a stronger response as commissioners…

Business Egypt has an extensive network of seaports along both the Red Sea and the Mediterranean. (Egyptian Ministry of Transport)

Regional Turmoil Drives Growth at Egyptian Ports While Cutting Suez Canal Revenues

The Suez Canal may have incurred heavy losses due to regional tensions and instability in recent years — from the war in Gaza to the conflict involving Iran —…

Asharq Al Awsat (Cairo)
Business Mexican Economy Minister, Marcelo Ebrard, gestures as he speaks during a press conference in Mexico City on May 27, 2026. (AFP)

US, Mexico Finish First Round of Trade Agreement Talks

The United States and Mexico completed a first round of bilateral trade talks Friday, focused on revising the North American Free Trade Agreement in light of…

Business German Finance Minister Lars Klingbeil (L), Dutch Finance Minister Eelco Heinen (R) and Spanish Economy Minister Carlos Cuerpo attend a meeting with finance ministers from Germany, Italy, Spain, Poland, France and the Netherlands at the Deutsche Bundesbank recreation center in Berlin, Germany, 28 May 2026. (EPA)

EU's Six Biggest Economies Agree on Capital Markets Supervision

Finance ministers from the EU's six biggest economies (E6) agreed among themselves on Friday to support more centralized capital markets supervision, in a…

Business Women walk through the lobby of Elm Co. in the Saudi capital Riyadh. (Public Investment Fund)

Saudi Fintech, Cloud Services Drive Technology Sector Profit Boom

Saudi Arabia’s listed technology companies posted strong first-quarter earnings for 2026, reflecting a structural shift in the sector as digital revenue growth…

Mohammed al-Mutairi (Riyadh)
Business Gold bars displayed inside Comptoir National de l'Or store in Paris (Reuters)

Gold on Track for Third Straight Monthly Loss; Traders Assess US-Iran Ceasefire Reports

Gold was headed for a third straight monthly loss as the US-Israeli war on Iran kept concerns around inflation and US rate hikes elevated. Spot gold rose 0.5…

Asharq Al Awsat
Business Sierra Leone-flagged crude oil tanker Altura transits the Bosphorus in Istanbul, Türkiye, March 16, 2026. (Reuters)

Oil Falls Over 1% on Reports of Potential US-Iran Ceasefire Deal

Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the US and Iran had…

Business The US-Iran deal to extend the ceasefire is pending approval by President Donald Trump. WIN MCNAMEE / GETTY IMAGES NORTH AMERICA/AFP

Asia Stocks Surge, Oil Falls on Hopes of US-Iran Truce Deal

Asian stock markets surged and oil prices receded on Friday, boosted by optimism that the United States and Iran will reach a deal to end their war that has…

Asharq Al Awsat
Business  An empty fuel station, as India faces rising oil prices following the closure of the Strait of Hormuz amid the US-Israeli conflict with Iran, in Halvad, Gujarat, India, May 22, 2026. (Reuters)

Middle East War Reshaping National Energy Strategies, Says IEA

The Middle East war is pushing countries to open new supply routes and turn to domestic resources to tide over the world's biggest energy crisis, the…

Business The Euro currency symbol is seen prior to a press conference after an ECB's governing council meeting in Frankfurt, Germany, Dec. 18, 2025. (AP)

ECB Chief Economist Sees Persistent Impact on Inflation from Iran War

The energy shock caused by the Middle East conflict will likely have a persistent impact on inflation even if there is a quick solution to the war, the…

Business US dollar banknotes are seen in this illustration taken March 24, 2026. (Reuters)

Dollar Firms to One-Week High as Gulf Tensions Flare, Yen Nears Intervention Zone

The dollar firmed to a one-week high on Thursday after Middle East tensions ratcheted up following fresh US strikes on Iran, while the yen softened toward a…

Business The Nord Maverick, an oil and chemical tanker sailing under the flag of Denmark, is docked at the Texas City docks next to the Marathon Galveston Bay Refinery shortly after US President Donald Trump announced a 60-day waiver of the Jones Act shipping law in Texas City, Texas, U.S. March 18, 2026. (Reuters)

Oil Surges After Iran Targets US Airbase in Retaliation

Oil prices jumped more than 3% on Thursday after Iran's Revolutionary Guards said they targeted a US airbase in response to a US attack near Bandar Abbas…

Business Gold bracelets and necklaces are displayed at a shop in Istanbul's Grand Bazaar (AFP file)

Gold Hits Two-Month Low as US-Iran Tension Stokes Inflation Fears

Gold prices fell to a two-month low on Thursday as fresh US attacks on Iran boosted the dollar and pushed oil prices higher, stoking concerns about rising…