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 A woman stands in front of an information screen at the LEAP tech exhibition in Saudi Arabia (SPA)

Saudi Arabia Builds its Own Digital Sovereignty Model

In a world where digital borders are blurring and countries are racing to control data and build technological power, Saudi Arabia has chosen to carve out its…

Zeinab Ali (Riyadh)
Business An aerial view of newly imported cars parked at the automobile terminal at the Port of Los Angeles on May 08, 2026 in Wilmington, California. (Getty Images/AFP)

China Signals Tariff Cuts, Advances in Farm Market Access After Trump-Xi Summit

China and the United States have agreed to expand agricultural trade through tariff reductions and tackle non-tariff barriers and market access issues, China's…

Business President of the European Automobile Manufacturers' Association (ACEA) Ola Kallenius attends a press point in the European Parliament in Brussels, Belgium, 13 May 2026. (EPA)

Mercedes Benz Mulls Diversification into Defense

The CEO of German automaking giant Mercedes-Benz has said he has not ruled out entering the defense industry. "The world has become more unpredictable, and I…

Business  Vessels in the Strait of Hormuz, Musandam, Oman, May 15, 2026. (Reuters)

Iraq Exported 10 Million Barrels of Oil Through Strait of Hormuz in April

Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country's new…

Business Turkish Airlines’ celebration on Friday marking 75 years since its first flights to Cairo. (Egyptian Ministry of Civil Aviation)

Egypt, Türkiye Boost Cooperation Through Air Travel, Tourism

Egypt and Türkiye are strengthening their cooperation and “strategic partnership” by boosting air traffic and tourism as the two countries mark 75 years since…

Waleed Abdulrahman (Cairo)
Business US Secretary of Energy Christopher Wright testifies during a US Senate Armed Services Committee hearing on Capitol Hill in Washington, DC, US, May 13, 2026. (Reuters)

US Will Replenish Every Barrel of Oil It Releases from Strategic Petroleum Reserve, Energy Secretary Says

The US will replenish every barrel of oil it releases from the Strategic Petroleum Reserve, Energy Secretary Chris Wright ‌said Friday ‌at an event…

Business Shipping containers are piled at the Port of Los Angeles, California, on May 9, 2026. (AFP)

Trump Says Did Not Discuss Tariffs During Summit with Xi

US President Donald Trump said Friday he did not bring up the issue of tariffs during a landmark summit with Chinese counterpart Xi Jinping. Returning to…

Business A view of 10 Downing Street in London, Britain, 14 May 2026. EPA/NEIL HALL

Britain's Pound, Stocks and Bonds Fall on Political Uncertainty, Global Inflation Angst

British government bonds, stocks and sterling fell on Friday, as domestic political uncertainty clashed with global worries about an inflationary shock,…

Asharq Al Awsat (London)
Business The current price of gasoline is shown at a gas station in Encinitas, California, US, May 11, 2026.  REUTERS/Mike Blake

Oil Gains after Trump Says Xi Agrees Iran Cannot Have Nuclear Weapons

Oil prices gained about 2% after US President Donald Trump said he and China's Xi Jinping agree Iran cannot have nuclear weapons and as concerns persisted over…

Asharq Al Awsat
Business  President Donald Trump talks with China's President Xi Jinping at the Zhongnanhai leadership compound, Friday, May 15, 2026, in Beijing. (AP Photo/Mark Schiefelbein, Pool)

China Stocks Drift as Trump-Xi Summit Offers Little to Excite Investors

China stocks wavered on Friday as a summit between US President Donald Trump and China's Xi Jinping entered its last day, having produced few deals between the…

Business The skyline with the banking district is seen during sunset in Frankfurt, Germany, February 27, 2024. REUTERS/Kai Pfaffenbach

German Economy to Take Hit from Iran War during Q2, Ministry Says

Economic growth in Germany, which was just 0.3% in the ‌first quarter, ‌will likely take ‌a ⁠significant hit from ⁠the effects of the Iran war …

Asharq Al Awsat
Business  A commuter monitors the meter as an attendant refuels his vehicle at a filling station in New Delhi, India, Friday, May 15, 2026. (AP)

India Raises Retail Fuel Prices for First Time Since Iran War Started

India's state-run fuel retailers have raised petrol and diesel prices for the first time in four years by 3 rupees ($0.03) per liter, or more than 3%,…

Business Traffic is seen on a street in central Cairo. Photo: Asharq Al-Awsat

IMF: Egypt Staff Mission May Lead to $1.6 Billion Disbursement this Summer

The International Monetary Fund said on Thursday that a staff mission is currently in Egypt to conduct the latest reviews on the country's Extended Fund…

Asharq Al Awsat (Washington)
Business A food market in Saudi Arabia (SPA)

Saudi Property Measures Help Curb Global Inflation Pressures

At a time when the global economy is grappling with strong waves of price pressures caused by the Iran war and disruption in the Strait of Hormuz, Saudi Arabia…

Bandar al-Mosalam (Riyadh)
Business The US and Chinese flag at the Great Hall of the People prior to the state dinner of President Donald Trump and Chinese President Xi Jinping on Thursday May 14, 2026, in Beijing. (AP Photo/Mark Schiefelbein)

IMF Says Constructive US-China Dialogue Good for World Economy

The International Monetary Fund said on Thursday that it welcomes the initial positive dialogue between US President Donald Trump and Chinese President Xi…

Asharq Al Awsat (Washington)
Business FILE PHOTO: A view of the International Monetary Fund logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo

Iraq Reportedly Sought Financial Assistance from IMF as a Result of Iran War

Iraqi officials have approached the International Monetary Fund about securing financial assistance as a result of the conflict in the Middle East, a source…

Asharq Al Awsat (Washington)
Business (FILES) The price per litre of unleaded petrol and diesel is pictured in front a Shell petrol station in Wrotham Heath, south east England on May 7, 2026. British energy giant Shell announced on May 7, 2026 a 19-percent increase in net profits for the first quarter as the Middle East war sent oil and gas prices soaring in volatile trading. (Photo by Ben STANSALL / AFP)

Oil Prices Dip after Iran Says Dozens of Vessels are Crossing Hormuz

Oil prices dipped on Thursday after Iran's state media said about 30 vessels had crossed the Strait of Hormuz in recent hours while the semi-official Fars news…

Asharq Al Awsat
Business FILE PHOTO: A view of the city's business and financial districts, from the July 15 Martyrs' Bridge, known as the Bosphorus Bridge, which links the city's Asian and European sides, in Istanbul, Türkiye, November 2, 2025. REUTERS/Murad Sezer/File Photo

Türkiye Raises End-2026 Inflation Target to 24%

Türkiye's central bank raised its end-2026 interim inflation target to 24% from 16% Governor Fatih Karahan said on Thursday, forecasting that the inflationary…

Asharq Al Awsat
Business Union flags flutter in the breeze close to the Victoria Tower and Palace of Westminster, home to the two houses of Parliament, after the State Opening of Parliament in London on May 13, 2026. (Photo by Adrian DENNIS / AFP)

UK Economy Shows Unexpected Growth of 0.3% in March

Britain's economy expanded unexpectedly in March to cap another strong first quarter, suggesting the economy was in slightly better shape as the Iran war…

Asharq Al Awsat (London)
Business A man walks past a Softbank branch in Tokyo on May 13, 2026. (Photo by Andrew CABALLERO-REYNOLDS / AFP)

SoftBank Profit More Than Triples on OpenAI Stake Gains

Technology investor SoftBank Group reported on Wednesday that its net profit more than tripled to 1.83 trillion yen ($11.60 billion) in the January-March…

Asharq Al Awsat (Tokyo)
Business India's Foreign Minister Subrahmanyam Jaishankar (R) speaks to Iranian counterpart Abbas Araghchi at the opening of the BRICS Foreign Ministers’ Meeting in New Delhi. Arun SANKAR / AFP

Iran War and Oil Dominate BRICS Meet in India

BRICS foreign ministers, including from Iran and Russia, met in New Delhi on Thursday, where India warned of "considerable flux" with conflict driving economic…

Asharq Al Awsat
Business A worker from the Transport General Authority checking trucks (TGA)

Convoys of Desert Trucks Become Escape Valve for the Global Economy

Convoys of heavy-duty trucks barreling across the Arabian desert have become an escape valve for the global economy, according to a Wall Street Journal report…

Asharq Al Awsat (Washington)
Business A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28, 2024. REUTERS/Leonhard Foeger/File Photo 

OPEC Cuts 2026 Global Oil Demand Growth Forecast

OPEC on Wednesday lowered its forecast for global oil demand growth in 2026, joining other forecasters in cutting expectations due to the Iran war. But…

Asharq Al Awsat
Business  Tourists ride while taking part in kitesurfing in Tunisia's southern island of Djerba on May 5, 2026. (AFP)

Tunisian Tourism Slows in Fallout of Middle East War

In Tunisia, May usually heralds the start of the summer tourism boom, but as the Middle East war wreaks havoc on the region, the season is opening on uneasy…