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 An oil rig operates in the Permian Basin oil field in Texas, USA (Reuters)

Oil Soars as Trump Rejects Iran's Terms

Oil prices rose in Asian trade on Monday after US President Donald Trump rejected Iran's terms for ending the war in the Middle East, while stocks were mixed. …

Asharq Al Awsat
Business Flames emerge from flare stacks at Nahr Bin Umar oil field, north of Basra, Iraq March 9, 2020. (Reuters)

Iraq Raises June Basrah Medium Crude Price to Asia to $4.30 a Barrel

Iraq has raised the June official selling price for Basrah Medium crude oil to Asia to $4.30 a barrel against the average of Oman/Dubai quotes from the May OSP…

Asharq Al Awsat (Baghdad)
Business The Qatari ‘Al Kharaitiyat’ tanker, which loaded at the Ras Laffan export plant (X) 

Qatari LNG Tanker Crosses Strait of Hormuz

A tanker carrying liquefied natural gas (LNG) from Qatar appears to have transited the Strait of Hormuz, marking the country’s first export out of the region…

Asharq Al Awsat (Doha)
Business Gold supports some stablecoins (Reuters)

Gold Falls on Oil-driven Inflation Worries as US–Iran Peace Talks Falter

Gold prices fell on Monday, as a lack of progress in US–Iran peace negotiations pushed oil prices higher, fueling concerns that elevated inflation could keep…

Asharq Al Awsat
Business French President Emmanuel Macron (L) shakes hands with Kenyan President William Ruto (R) during a reception at State House ahead of the Africa Forward: Africa- France Partnerships for Innovation and Growth Summit in Nairobi, on May 10, 2026. (AFP)

Macron Arrives in Kenya Ahead of Africa Summit

President Emmanuel Macron on Sunday met with his Kenyan counterpart William Ruto in Nairobi as part of an African visit aimed at renewing France's engagement…

Business  Treasury Secretary Scott Bessent listens as President Donald Trump speaks at a charter school in The Villages, Fla., Friday, May 1, 2026. (AP)

China, US to Hold Trade Talks in South Korea Next Week

Senior Chinese and US officials will hold talks in South Korea next week, Beijing's commerce ministry and Washington's Treasury secretary said Sunday, ahead of…

Business President and CEO of Saudi's Aramco, Amin Nasser, speaks during the Future Investment Initiative (FII) in Riyadh, Saudi Arabia October 29, 2024. (Reuters)

Aramco CEO Warns 1 Billion Barrels Lost Will Slow Oil Market Recovery

The world has lost about 1 billion barrels of oil over the past two months and energy markets will take time to stabilize even if ‌flows resume, &zwnj…

Business Omar Arekat, Boeing’s vice president for commercial sales and marketing in the Middle East (The company) 

Boeing: Building a Strategic Partnership to Cement Saudi Arabia as a Global Aviation, Tourism Hub

Boeing is seeking to strengthen its presence in Saudi Arabia, citing significant opportunities to support its regional expansion and stressing that cooperation…

Mosaed al-Zayani
Business Saudi Aramco's logo during the CERAWeek energy conference 2026 in Houston, Texas, US, March 24, 2026. (Reuters)

Saudi Aramco’s Q1 Profit Rises 25% on Higher Sales, Key Pipeline Full

Saudi oil giant Aramco reported on Sunday a 25% rise in first-quarter net profit, mainly due to higher sales, while the East-West crude pipeline that…

Business Construction work on buildings in downtown Cairo (Photo: Abdelfattah Farag)

World Bank Raises Egypt's Package by $300 Million to Counter Iran War Impact

Egypt will receive an extra $300 million as part of a World Bank development financing package to help it confront fallout from the Iran war, Stephane Guimbert…

Asharq Al Awsat (Cairo)
Business Russian President Vladimir Putin and Slovak Prime Minister Robert Fico attend a meeting at the Kremlin in Moscow on May 9, 2026 (EPA)

Putin Says Russia Will Meet Slovakia's Energy Demand

President Vladimir Putin told Slovakian Prime Minister Robert Fico at a meeting in the Kremlin on Saturday that Russia will do everything to meet Slovakia's…

Asharq Al Awsat (Moscow)
Business Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Song

China Energy Imports Drop in April Amid Iran War as Fuel Exports Hit Decade Low

China's oil imports fell to the lowest level in almost four years in April as the closure of the Strait of Hormuz choked off supplies to the world's largest…

Asharq Al Awsat
Business A general view of the Port of Hamburg, in Hamburg, Germany, October 9, 2023. REUTERS/Wolfgang Rattay

Germany's March Exports Rose Despite Fall of Industrial Output

German exports rose unexpectedly in March, official data showed on Friday, lifted by higher demand from Europe, as industrial output fell despite a forecast…

Asharq Al Awsat (Berlin)
Business FILE PHOTO: Oil tankers in the Singapore Strait in Singapore March 17, 2026. REUTERS/Edgar Su/File Photo

Asia Gets First Mexican Fuel Oil Cargo in 9 Months

Asia received its first fuel oil cargo from Mexico in nine months on Thursday, with more to follow, as higher Asian prices draw supply after the loss of Middle…

Asharq Al Awsat (Mexico) Asharq Al Awsat (Singapore)
Business US dollar banknotes (Reuters)

Dollar Set for Second Straight Weekly Fall despite US-Iran Clashes

The dollar was down and heading for a second straight weekly fall on Friday as investors stayed cautiously optimistic about a swift end to the Middle East…

Asharq Al Awsat
Business People buy food at Ningxia Night Market in Taipei, Taiwan May, 6, 2026. REUTERS/Ann Wang

FAO: World Food Prices Rise to More Than Three Year High in April

World food prices climbed in April to their highest in more than three years, with vegetable oils particularly elevated due to the Iran war and the effective…

Asharq Al Awsat
Business FILE PHOTO: Gold ornaments are placed for polishing inside a Senco Gold & Diamonds jewelry workshop in Kolkata, India, January 29, 2026. REUTERS/Sahiba Chawdhary/File Photo

Gold Set for Weekly Gain as Markets Focus on US-Iran Peace Deal Prospects

Gold rose on Friday and was headed for a weekly gain on easing fears of inflation and higher interest rates, as investors remained optimistic about a US-Iran…

Asharq Al Awsat
Business A man walks past Bank Indonesia headquarters in Jakarta, Indonesia, September 2, 2020. REUTERS/Ajeng Dinar Ulfiana

Governor: Indonesia Central Bank Has Sufficient Foreign Reserves to Stabilize Rupiah

Indonesia's central bank has sufficient foreign exchange reserves to make the strong market interventions required to stabilize the rupiah, Governor Perry…

Asharq Al Awsat (Jakarta)
Business A view shows the building of Norway’s central bank (Norges Bank) in Oslo, Norway, June 23, 2022. REUTERS/Victoria Klesty/File Photo 

Norway Breaks European Silence by Swiftly Raising Rates to Face War Repercussions

Norway’s central bank became one of the first to raise interest rates as a result of the US-Israeli attacks on Iran, warning that the conflict in the Middle…

Asharq Al Awsat (Oslo, Stockholm)
Business A letter of intent was signed between the DGA and the UN on the sidelines of the Science, Technology and Innovation Forum held in New York this week. (SPA)

Saudi Arabia to Establish Int’l Center for Digital Governance in Riyadh

Saudi Arabia’s Digital Government Authority has said it held discussions with the United Nations Department of Economic and Social Affairs (UN-DESA) to host in…

Asharq Al Awsat (Riyadh)
Business An oil rig operates in the Permian Basin oil field in Texas, USA (Reuters)

Oil Jumps, Stocks Fall as US-Iran Clashes Spark Peace Talks Fears

Stocks sank and oil prices jumped Friday as US-Iran clashes in the Strait of Hormuz jolted hopes for a deal to end the war and reopen the crucial waterway. …

Asharq Al Awsat
Business  Large crowds attend Riyadh Season, SPA

Saudi Entertainment Becomes Strategic Driver of Economy

Over the past decade, Saudi Arabia’s entertainment sector has shifted from an activity with limited influence to one of the main drivers of economic…

Bandar al-Mosalam (Riyadh)
Business FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier/File Photo

IMF Warns of 'Inevitable' AI-powered Threats to Global Financial System

The International Monetary Fund (IMF) warned on Thursday of the risks to global financial stability posed by cyberattacks powered by advanced artificial…

Asharq Al Awsat (Washington)
Business The Saudi capital, Riyadh. SPA

Saudi PIF Sets Three-part Dollar Bond Spreads as Demand Tops $21.6 Bln

Saudi Arabia's Public Investment Fund set spreads for a three-part benchmark dollar bond on Thursday after drawing more than $21.6 billion in combined demand. …

Asharq Al Awsat (Riyadh)