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 Sudanese Minister of Energy and Petroleum Al-Mutasim Ibrahim meets Saudi Assistant Minister of Energy Mohammed Abdulrahman on the sidelines of the World Petroleum Congress (X)

Sudanese Energy Minister to Asharq Al-Awsat: Joint Teams with Saudi Arabia to Turn Agreements into Projects

Sudan has established working teams to explore energy partnerships with Saudi Arabia, paving the way to turn bilateral discussions into projects aimed at…

Fatehelrahman Yousif (Riyadh)
Business Officials at the meeting of the International Monetary and Financial Committee of the International Monetary Fund in Bangkok. (X)

SAMA Governor: Saudi Infrastructure Sustains Oil Supplies, Regional Trade Amid Conflict

Saudi Arabia’s diversified energy infrastructure and logistics networks have enabled the Kingdom to maintain oil supplies and regional trade despite the…

Asharq Al Awsat (Bangkok)
Business Passersby walk past a stock market indicator board in Tokyo, Japan, 15 October 2026. EPA/FRANCK ROBICHON

Asian Shares are Mixed with Tech Stocks Volatile, and Oil Falls on Trump's Russian Sanctions Waiver

Asian shares were mixed Monday as volatility in technology stocks persisted, while US equity futures edged higher ahead of another week of American corporate…

Asharq Al Awsat
Business FILE PHOTO: An Anthropic logo is displayed at Moscone Center during the Dreamforce 2026 technology summit in San Francisco, California, US, September 17, 2026. REUTERS/Carlos Barria/File Photo

Anthropic Commits 5% of Its Stock to a New 'Public Benefit' Fund

Anthropic said Sunday it is committing 5% of its shares to a new “public benefit” fund, with the fund's worth potentially increasing as its shares grow in…

Asharq Al Awsat
Business FILE PHOTO: A view of the Syrian central bank, after the ouster of Syria's Bashar al-Assad, in Damascus, Syria, January 12, 2025. REUTERS/Firas Makdesi/File Photo

Syria, World Bank Agree to Set Up Fund for Recovery and Reconstruction

Syria and the World Bank have agreed to set up a multi-donor ‌trust ‌fund focused ‌on ⁠recovery and reconstruction, they ⁠said in a joint…

Asharq Al Awsat
Business Construction workers walk in front of a residential compound in Beijing, China, 19 October 2026. (EPA)

China’s Economic Growth Picks up as Exports Boom, Consumers Balk

China's economic growth bounced off three-year lows in the third quarter, as roaring exports offset consumers' tight grip on their wallets, though analysts…

Business A market data display at the Saudi Tadawul Group headquarters in Riyadh (Tadawul)

Saudi Stock Market Closes 0.82% Higher, Led by Energy Sector

Saudi Arabia's benchmark Tadawul All Share Index (TASI) ended Sunday's session up 0.82 percent at 10,189 points, with trading turnover reaching SAR 2.3 billion…

Asharq Al Awsat (Riyadh)
Business A boy jumps off a rock into the Mediterranean Sea in Beirut, Lebanon, Saturday, Oct. 17, 2026. (AP Photo/Hassan Ammar)

Lebanon Weighs $2 Billion Plan to Boost Consumption and Production

Lebanese government, economic and banking officials are considering a $2 billion financing plan aimed at stimulating consumer spending, increasing industrial…

Ali Zeineddine (Beirut)
Business Delegates take photographs with the logo of the 2026 Annual Meetings of the IMF and the World Bank Group in Bangkok, Thailand, 16 October 2026.  EPA/RUNGROJ YONGRIT

Bangkok Meetings Highlight Overlapping Shocks to Global Economy

The global economy's resilience in the face of repeated shocks is no longer enough to reassure policymakers, as the fallout from wars, disruptions to energy…

Asharq Al Awsat (Riyadh)
Business A drone view shows a Chinese-flagged oil tanker moored at an oil terminal at Tsing Yi port in Hong Kong, China March 19, 2026. (Reuters)

China’s September Refined Fuel Exports Surge Amid Iran War, Diesel Exports More Than Triple

China's exports of refined oil products in September surged 39.4% year-on-year, data showed on Sunday, with diesel exports reaching their highest in more than…

Business The Arab Energy Fund headquarters in Riyadh. (TAEF)

Arab Energy Fund to Asharq Al-Awsat: 54% of Investment Assets Located in Saudi Arabia

Saudi Arabia accounts for around 54 percent of the total assets under management within the investments and partnerships sector of The Arab Energy Fund, which…

Dana Aldrees (Riyadh)
Business  US Secretary of State Marco Rubio speaks with members of the media before boarding a plane en route to Uzbekistan, at Joint Base Andrews, Md., Saturday, Oct. 17, 2026. (Kylie Cooper/Pool Photo via AP)

US Goes on the Offensive in Central Asia

It's dealmaking time: despite the roiling geopolitical tensions embroiling Washington on several fronts, US Secretary of State Marco Rubio headed to Central…

Business The GE Vernova headquarters. (Asharq Al-Awsat)

GE Vernova Targets Annual Gas Turbine Production Capacity of 30 GW by 2030

Global electricity demand is rising as artificial intelligence applications and data centers expand and industrial activity grows, increasing the need for…

Abeer Hommadi (Riyadh)
Business Vietnam's President To Lam (C), Liechtenstein's Prime Minister Brigitte Haas (3rd L) and Switzerland's President Guy Parmelin (3rd R) pose with delegates during the signing ceremony for the Vietnam-EFTA Free Trade Agreement (VEFTA) in Hanoi on October 18, 2026. (Photo by Nhac NGUYEN / AFP)

Vietnam Signs Free Trade Deal with Four European Countries

Vietnam and four European nations outside the EU signed a free trade agreement in Hanoi on Sunday, seeking to diversify their markets as US tariffs disrupt…

Asharq Al Awsat
Business European Central Bank President Christine Lagarde speaks during a press conference following the ECB Governing Council meeting at the guest house of the Deutsche Bundesbank in Berlin, Germany, September 10, 2026. REUTERS/Annegret Hilse/File Photo

Lagarde: Sustainable Finances Key for Economic Stability

European Central Bank (ECB) president Christine Lagarde stressed on Saturday the importance of sound public finances when she addressed ministers in charge of…

Asharq Al Awsat (Bangkok)
Business IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

Georgieva: More Work Needed on Lebanon Program

International Monetary Fund Managing Director Kristalina Georgieva said on Saturday that ‌there were "intense" ‌discussions on support ‌for…

Asharq Al Awsat
Business Al-Jadaan during his participation in the meeting of Arab governors with the President of the World Bank Group on Friday (X)

Al-Jadaan: Wars and Supply Disruptions Heighten Risks to Global Economy

Saudi Arabia's Finance Minister Mohammed Al-Jadaan, Chair of the International Monetary and Financial Committee (IMFC), said that ongoing wars, conflicts and…

Asharq Al Awsat (Bangkok)
Business Pakistan Finance Minister Muhammad Aurangzeb gestures during a Reuters interview in the IMF/World Bank 2026 Annual Meetings at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand, October 12, 2026. REUTERS/Patipat Janthong

Pakistan Says Attacks on Gulf Energy Infrastructure 'Worrying' for Outlook

Pakistan's finance minister on Saturday told AFP the country had so far withstood the shock from skyrocketing energy prices due to the Iran war, but that…

Asharq Al Awsat
Business World Bank Group President Ajay Banga gestures during the Annual Meetings Plenary at the 2026 Annual Meetings of the IMF and the World Bank Group in Bangkok, Thailand, 16 October 2026. EPA/RUNGROJ YONGRIT

World Bank: 800 Million Jobs Needed to Absorb Young Workers Over the Next 15 Years

World Bank Group President Ajay Banga has warned of mounting challenges in creating jobs worldwide, noting that around 1.2 billion young people will enter the…

Asharq Al Awsat (Bangkok)
Business FILE PHOTO: Gold bangles are displayed inside a jewelry store in the old quarters of Delhi, India, May 11, 2026. REUTERS/Bhawika Chhabra/File Photo

Gold Ticks Up on Softer Dollar, but Heads for Weekly Fall

Gold edged higher on Friday as the dollar weakened, but the metal was still on track for a small weekly loss as investors weighed signals from the Federal…

Asharq Al Awsat
Business Sakaka Solar Photovoltaic Power Plant (Acwa). 

Acwa to Asharq Al-Awsat: Energy Storage Key to Saudi Renewable Expansion

Saudi Arabia’s Acwa is expanding its renewable energy, electricity storage and water desalination projects as the rapid growth of artificial intelligence and…

Abeer Hommadi (Riyadh)
Business Prince Abdulaziz bin Salman during the opening of the World Petroleum Congress in Riyadh (Asharq Al-Awsat)

25th WPC Energy Congress in Riyadh Draws Record Attendance of More than 33,000 Visitors

The 25th WPC Energy Congress in Saudi Arabia drew a record audience of more than 33,000 visitors, alongside participants from 135 countries and 489 media…

Asharq Al Awsat (Riyadh)
Business TOPSHOT - A flare stack burns off byproduct gasses at the Toa oil refinery in Kawasaki on October 14, 2026. (Photo by Andrew Caballero-Reynolds / AFP)

Oil Heads for Weekly Gain with Mideast Supply Risks

Oil prices eased on Friday but were heading for weekly gains on the uncertainty over Middle East supplies and a larger-than-expected crude stocks draw in the…

Asharq Al Awsat
Business An aerial view shows the fuel depot of Aral at the Ruhr Oel petroleum refineries of BP Gelsenkirchen GmbH in Gelsenkirchen, western Germany on October 15, 2026. (AFP)

IEA to Speed up Oil Stocks Release Including Over 20 Million Barrels of Diesel

The International Energy Agency agreed on Thursday to release over 20 million barrels of diesel to the market and any oil remaining from a record emergency…