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 3D-printed oil pump jacks and the QatarEnergy logo appear in this illustration taken March 2, 2026. REUTERS/Dado Ruvic/Illustration

QatarEnergy Buys Stakes in Uruguay Offshore Blocks from Shell Subsidiary

QatarEnergy has acquired interests in three offshore exploration blocks in Uruguay from a subsidiary of Shell, marking its first entry into the South American…

Asharq Al Awsat
Business  A man counts US dollar currency notes at a foreign exchange office in Hyderabad on May 16, 2026. (AFP)

Dollar Steady Near Six-Week Highs on Rate-Hike Bets, War Uncertainty

The US dollar was steady near a six-week high on Wednesday as investors come to terms with the possible need for higher interest rates to tackle inflation due…

Business Signage is displayed above The Boeing Company booth at Special Operations Forces (SOF) Week at the Tampa Convention Center on May 19, 2026 in Tampa, Florida. (Getty Images/AFP)

China Says It Will Buy 200 Boeing Jets, Seek Extension of US Trade Truce

China on Wednesday said it will buy 200 Boeing jets and seek an extension of a trade truce struck with the US that is set to expire this November. The…

Business Britain's Chancellor of the Exchequer Rachel Reeves arrives at Downing Street in London , Britain, 13 May 2026. EPA/NEIL HALL

UK Inflation Slows to 2.8% in April

British consumer price inflation slowed to 2.8% in April from 3.3% in March, according to official figures published on Wednesday. Economists polled by…

Asharq Al Awsat (London)
Business Union Calls Strike at South Korea Chip Giant Samsung Electronics

Union Calls Strike at South Korea Chip Giant Samsung Electronics

A planned strike at South Korean chip giant Samsung Electronics will go ahead from Thursday, its union said, after talks on bonus payouts collapsed, raising…

Asharq Al Awsat
Business A Riyadh Air aircraft flies over the Saudi capital, Riyadh (Public Investment Fund)

Boeing Dreamliner to Fly Riyadh Air's First Passengers in July

Riyadh Air, Saudi Arabia’s new national carrier wholly owned by the Public Investment Fund, is moving onto the global aviation stage through London, with an…

Bandar al-Mosalam (Riyadh)
Business Travelers move through stanchion lines at the departure terminal of King Khalid International Airport in Riyadh. (AFP)

Saudi Airports Handle 141 Million Passengers in 2025 as Aircraft Fleet Expands

Saudi Arabia’s airports handled 140.9 million passengers in 2025, marking another year of strong growth for the Kingdom’s aviation sector as the national…

Asharq Al Awsat (Riyadh)
Business Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the US-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. (Reuters)

Supertanker with Iraqi Oil Heads for Vietnam After Hold-up in US Blockade

Supertanker Agios Fanourios I is heading for Vietnam to discharge its Iraqi crude oil cargo after it was held by the US Navy for five days in the Gulf of Oman,…

Business Vessels are seen anchored in the Strait of Hormuz, off the port city of Khasab on Oman's northern Musandam Peninsula on May 17, 2026. AFP

Asian Markets Cautious, Oil Dips after Trump Holds Off on Iran Attack

Asian markets were mixed Tuesday as oil prices eased on hopes of a US-Iran deal, though elevated crude levels capped investor appetite for risk. Energy…

Asharq Al Awsat
Business  13 May 2026, Australia, Canberra: Australian Prime Minister Anthony Albanese is interviewed on morning television after delivering the 2026-27 Federal Budget in the House of Representatives at Parliament House in Canberra. (dpa)

Australia Secures Jet Fuel from China to Keep Flying in Energy Squeeze

Australia has secured three shipments of jet fuel from China totaling 600,000 barrels, Prime Minister Anthony Albanese said Tuesday, doubling the national…

Business Oil/Chemical Tanker "Bald Man" at the Port of Fujairah, as the US-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, May 6, 2026. (Reuters)

Hormuz Crisis Saddles Global Companies with $25 Billion Bill

The US-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis. A…

Asharq Al Awsat (London)
Business US President Donald Trump and EU chief Ursula von der Leyen sealed the deal in Turnberry, Scotland last year. Brendan SMIALOWSKI / AFP/File

Under Trump Pressure, EU Eyes Deal to End Trade Standoff

The EU hopes Tuesday to strike a deal towards implementing its nearly year-old trade pact with the United States -- with an increasingly impatient Donald Trump…

Asharq Al Awsat
Business  US Secretary of the Treasury Scott Bessent arrives at meeting of G7 Finance Ministers and Central Bank Governors in preparation for the summit of heads of State and government to be held in June 2026 in Evian, in Paris on May 18, 2026. (AFP)

US Extends Sanctions Waiver on Russian at-Sea Oil by 30 Days

The US Treasury secretary on Monday said Washington was extending by 30 days its sanctions waiver for Russian oil cargoes already at sea, as global energy…

Business Organization for Economic Cooperation and Development (OECD) Secretary-General Mathias Cormann and International Energy Agency (IEA) Executive Director Fatih Birol talk on the day of a G7 finance ministers' and central bank governors' meeting in Paris, France, May 18, 2026. (Reuters)

IEA Chief Warns Commercial Oil Inventories Are Depleting Rapidly, Only Weeks Left

Fatih Birol, head of the International Energy Agency, said on Monday that commercial oil inventories were depleting rapidly with only a few weeks' worth left…

Business SABIC’s manufacturing facility in Jubail (company website) 

Operating Profits Drive Saudi Petrochemical Firms to Record 111% Jump in Earnings

Saudi-listed petrochemical companies posted a sharp improvement in financial performance during the first quarter of 2026, driven by a strong recovery in…

Mohammed al-Mutairi (Riyadh)
Business French Finance Minister Roland Lescure admits the discussions facing G7 leaders 'are not easy'. Dimitar DILKOFF / AFP

G7 Finance Chiefs Meet to Seek Common Stance on Unstable Ground

Finance chiefs from the G7 industrialized nations gather in Paris on Monday for two days of talks aimed at forging a united front as the Middle East war roils…

Asharq Al Awsat
Business  People walk on a street decorated with lanterns at Qianmen area, ahead of US President Donald Trump's state visit to China, in Beijing, China, May 12, 2026. (Reuters)

China’s Economy Slows in April as Output, Retail Sales Sharply Undershoot Forecasts

China's economic growth lost steam in ‌April as industrial output and retail sales growth sharply missed expectations as the Asian powerhouse grappled…

Business  A man counts US dollar currency notes at a foreign exchange office in Amritsar on May 16, 2026. (AFP)

Dollar Steady as Oil Climbs, Bond Selloff Deepens

The dollar was on the defensive against most major currencies on Monday as fresh Middle East tensions lifted oil prices and a global bond selloff stoked rate…

Business A worker drives a forklift to transport aluminum bars at a factory in Anshun, Guizhou province, China, in this July 1, 2013. (Reuters)

China’s Aluminium Output Rises in April, Driven by Strong Profit

China's aluminium output remained strong in April, according to official data released on Monday, supported by strong margins. The country's aluminium…

Business Traffic moves along the A14 motorway near Leipzig, Germany, 12 May 2026. (EPA)

European Shares Fall as Inflation Worries Grip Markets

European shares sank on Monday, with oil prices rising and bonds extending their sell-off, as inflation worries continued with no signs of a deal between the…

Business The Middle East war has sent energy prices climbing. Shammi MEHRA / AFP

Asian Stocks Sink, Oil Rises on US-Iran Deadlock

Most Asian shares were lower in morning trade on Monday, extending slides in global markets, as the impasse in the Middle East drove oil prices more than two…

Asharq Al Awsat
Business An investor monitors a stock screen at the Saudi financial market in Riyadh (AFP)

Saudi Stock Market Edges Lower in First Session of the Week

Saudi Arabia’s stock market index ended trading slightly lower, falling 0.25 percent to close at 10,968 points, amid trading turnover of around SAR2.9 billion,…

Asharq Al Awsat
Business Shoppers at a food and beverage store in Oman. (Reuters)

Oman Inflation Rises 3.2% in April

Oman’s consumer price index (CPI) rose 3.2 percent in April compared with the same month in 2025, based on 2018 as the reference year. The National Center for…

Asharq Al Awsat
Business A previous meeting of the Federation of GCC Chambers in Riyadh. (SPA)

Gulf, International Initiative to Assess War’s Impact on Private Sector

Asharq Al-Awsat has learned of a joint initiative by the Federation of GCC Chambers and the International Labor Organization to conduct a rapid assessment of…

Bandar al-Mosalam (Riyadh)