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 Canadian Prime Minister Mark Carney arrives to Parliament Hill in Ottawa on Tuesday, May 26, 2026. (Sean Kilpatrick/The Canadian Press via AP)

Canada and Germany Sign Landmark LNG Deal to Boost Europe’s Energy Security

Canada and Germany’s state-owned energy firm SEFE said on Wednesday they had reached what Canada described as its first LNG supply ‌deal with a European…

Asharq Al Awsat (Toronto)
Business FILE PHOTO: Vehicles drive past a BP (British Petroleum) petrol station in Liverpool, Britain, February 7, 2023. REUTERS/Phil Noble/File Photo

BP's Ousted Chairman: 'I Won't Let a False Narrative Go Undisputed'

Albert Manifold on Wednesday hit out after being sacked as chairman of British energy giant BP, saying that he would "not allow a false narrative to go…

Asharq Al Awsat (London)
Business Crude oil tanker near the port city of Nakhodka, Russia (Reuters)

Türkiye Curbs Russian Urals Imports as Prices Rise

Türkiye is set to cut imports of Russia's Urals crude from Baltic and Black Sea ports this month to the lowest level in almost one and a half years, according…

Asharq Al Awsat
Business An aerial view showing the urban boom and major hospitality projects surrounding the Grand Mosque in Makkah (SPA).

Saudi Real Estate Legislation Places Makkah and Madinah at the Center of Global Investment Ambitions

Saudi Arabia’s legislative and regulatory environment has become the primary driver reshaping the investment landscape in Makkah and Madinah, pushing the real…

Mohammed al-Mutairi (Riyadh)
Business European Central Bank Vice-President Luis de Guindos, left, speaks with European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis during a meeting of EU finance ministers at the European Council building in Brussels, Tuesday, May 5, 2026. (AP Photo/Geert Vanden Wijngaert)

ECB Tells Banks to Invest More to Get a Grip on AI Security Risk

Euro zone banks need to invest more in cybersecurity if they are to get a grip on new AI models that can find flaws in software, the European Central Bank's…

Asharq Al Awsat
Business People walk outside Lebanon's Central Bank building in Beirut, Lebanon April 4, 2025. REUTERS/Mohamed Azakir

Alvarez & Marsal Returns to Lebanon’s Central Bank to Trace Missing $20 Billion

Lebanon’s central bank (BDL) has formally reappointed consulting firm Alvarez & Marsal to conduct a comprehensive forensic audit on the period from October…

Ali Zeineddine (Beirut)
Business This photograph shows the TotalEnergies refinery in Antwerp on May 18, 2026. (Photo by JONAS ROOSENS / Belga / AFP)

TotalEnergies Extends Fuel Price Cap in France Through June

Oil major Total Energies said on Wednesday it would extend its policy of capping fuel prices at its French service stations through the month of June as the…

Asharq Al Awsat
Business FILE PHOTO: Samsung Electronics’ labor union members chant slogans during a protest against the company’s compensation levels ahead of a planned lengthy strike in front of Samsung Electronics semiconductor plant in Pyeongtaek, South Korea, April 23, 2026.  REUTERS/Kim Hong-Ji/File Photo

Samsung Workers Approve Bonus Deal after Big AI Profits

Samsung Electronics union members on Wednesday approved a deal with management securing massive annual bonuses after threatening a major strike, as the global…

Asharq Al Awsat
Business A saleswoman adjusts gold jewellery for sale at a shop in Lianyungang_ in China痴 eastern Jiangsu province - AFP

Gold Falls as Renewed US-Iran Tensions Dampen Peace Hopes, Clouds Interest Rate Outlook

Gold slipped on Tuesday as US strikes in Iran pushed Brent prices higher, stoking inflation worries and clouding the outlook for US interest rates. Spot gold…

Asharq Al Awsat
Business Azerbaijan's capital Baku with the city's famous architectural landmarks in the background (X)

Azerbaijan Promotes Caucasus Corridors to Link Saudi Logistics With Central Asia

As global markets search for logistical lifelines to secure supply chains and energy flows amid ongoing geopolitical disruptions, Azerbaijan is promoting major…

Fatehelrahman Yousif (Riyadh)
Business A worker holds a Marianne-Or gold coin bullion replica at La Monnaie de Paris in Paris on May 21, 2026. (Photo by SIMON WOHLFAHRT / AFP)

Paris Mint to Issue 1st Solid-gold Coins in a Century

The Paris Mint said Tuesday that it would soon start selling solid-gold coins for investment, the first since it quit making Napoleons and Louis a century ago…

Asharq Al Awsat
Business A giant crude oil tanker carrying two million barrels of Saudi oil arrives at a refinery off Chita, Japan, May 25, 2026 (Reuters)

Global Oil Price Gains 3% after US Military Strikes on Iran

Brent crude oil rose 3% on Tuesday after the US military carried out strikes in Iran, adding to uncertainty on whether a deal will be imminently reached to end…

Asharq Al Awsat
Business Albudaiwi and Bryant embrace after signing the agreement in London amid applause from negotiators (UK Department for Business and Trade)

General Coordinator for Negotiations: GCC-UK Agreement is a Strategic Step in a Turbulent World

Gulf Cooperation Council countries and the United Kingdom have entered a new era of comprehensive strategic cooperation, following the official announcement in…

Mosaed al-Zayani (Riyadh)
Business Russian President Vladimir Putin speaks at last year’s St Petersburg International Economic Forum (SPIEF)

Putin: Russia Remains Integral Part of Global Economic System

Russian President Vladimir Putin on Monday conveyed a strong message to international investors, saying Russia has been and remains an integral part of the…

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

Aramco Transfers Full Ownership of PRefChem to Malaysia’s Petronas

Saudi Aramco and Petroliam Nasional Berhad (PETRONAS) have announced the signing of an agreement for the transfer of Aramco’s equity stakes in Pengerang…

Business  A worker holds a nozzle to pump fuel in a vehicle at a petrol pump in New Delhi, India, May 19, 2026. (Reuters)

India Turns to Latin American, African Oil After Hormuz Disruption

Indian refiners turned to imports from Latin America and Africa after supplies from the Middle East were disrupted as the Israeli-US war on Iran restricted…

Business  People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 25, 2026, in Tokyo. (AP)

Asian Shares Mostly Gain and Oil Prices Fall After Trump Says Peace Talks on Iran War Are Proceeding

Asian shares mostly rose Monday and oil prices plunged after US President Donald Trump said talks on ending the war with Iran are progressing. Japan's…

Business Vessels in the Strait of Hormuz, Iran, May 22, 2026. Majid Asgaripour/WANA (West Asia News Agency) via Reuters

Vessels Carrying Middle East Oil, LNG Exit Hormuz, Head for Pakistan, China

Two liquefied natural gas tankers are exiting the Strait of Hormuz on Monday, heading to ‌Pakistan and China, while a supertanker with Iraqi crude for…

Asharq Al Awsat (Singapore)
Business Saudi capital, Riyadh (Reuters) 

Moody’s Affirms Saudi Arabia ‘Stable’ Outlook Despite Geopolitical Risks

A Saudi Arabia’s sovereign credit rating affirmed at “Aa3” with a stable outlook by Moody’s last week came as an international testament to the resilience of…

Asharq Al Awsat (Riyadh)
Business The crude oil tanker Idemitsu Maru, owned by a subsidiary of Idemitsu Kosan, sails through Ise Bay near Chita City in Aichi Prefecture on May 25, 2026, after becoming the first crude tanker bound for Japan to transit the Strait of Hormuz since the Iran conflict began. (Photo by JIJI Press / AFP) / Japan OUT

Oil Falls, Asian Stocks Climb on Hopes of US-Iran Hormuz Deal

Oil prices fell and Asian stocks climbed on Monday over hopes a deal between the United States and Iran to open the Strait of Hormuz could be brokered. The…

Asharq Al Awsat
Business  People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)

Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

Morocco's state-owned carrier Royal Air Maroc (RAM) said on Saturday it would temporarily suspend several routes to African and European destinations due to …

Business A floating oil export platform in Basra port, Iraq (Reuters)

Official: Iraq Has Not Yet Applied for an IMF Loan

Financial Advisor to the Iraqi Prime Minister Mazhar Mohammed Saleh revealed on Saturday that Iraq has not yet submitted a formal request for a loan from the…

Asharq Al Awsat (Baghdad)
Business Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

The Saudi Ports Authority (Mawani) has added CMA CGM's Ocean Rise Express (OCR) shipping service to Jeddah Islamic Port, aiming to strengthen maritime…

Asharq Al Awsat
Business Lebanese President Joseph Aoun meets with a delegation from the Association of Banks in Lebanon (Lebanese Presidency)

Lebanon's Financial Battles Persist Despite War Priorities

Lebanon's unresolved financial and monetary issues continue to generate new and pressing obligations for the executive, legislative and monetary authorities…

Ali Zeineddine (Beirut)