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 The agreement is part of the Financial Sector Development Program (FSDP) strategy

Saudi Finance Ministry, NDMC Appoint HSBC Primary Dealer for Local Debt Instruments

The Saudi Ministry of Finance and the National Debt Management Center (NDMC) have signed an agreement with HSBC to appoint it as a primary dealer in the…

Asharq Al Awsat (Riyadh)
Business Riyadh Airports Company Wins Four Global Awards at 2026 Stevie Awards

Riyadh Airports Company Wins Four Global Awards at 2026 Stevie Awards

Riyadh Airports Company, which manages and operates King Khalid International Airport in Riyadh, achieved a new global accomplishment by winning four awards at…

Asharq Al Awsat
Business In an aerial view, a Valero refinery is seen on May 05, 2026 in Corpus Christi, Texas. Corpus Christi is facing a looming water crisis driven by rising temperatures, prolonged drought conditions, and increasing demand from local oil refineries.   Brandon Bell/Getty Images/AFP

Oil Prices Drop awaiting Mideast Peace Progress

Oil prices fell and global stock markets traded mixed Thursday awaiting an update on a US plan to end the Middle East war and reopen the Strait of Hormuz. …

Asharq Al Awsat
Business (FILES) The Shell logo is pictured above a Shell petrol station in London on January 30, 2026. (Photo by HENRY NICHOLLS / AFP)

Shell's Profit Beats Expectations at $6.9 Billion

Shell's first-quarter profit beat estimates and hit its highest in two years at $6.9 billion on Thursday, boosted by gains linked to the Middle East war,…

Asharq Al Awsat
Business Gold bars after being removed from their molds at a refinery smelter in Sydney (AFP)

Gold Gains for 3rd Day on US-Iran Peace Deal Optimism

Gold prices rose for a third consecutive session on Thursday, supported by a softer dollar as hopes of a US-Iran deal eased concerns over inflation and…

Asharq Al Awsat
Business An LNG tanker berthed at the Karratha gas plant loading terminal in Western Australia. Handout / WOODSIDE ENERGY LTD/AFP

Australia to Force Gas Giants to Reserve Fuel for Domestic Use

Australia will look to stave off energy shortages by forcing major gas companies to reserve 20 percent of their exports for domestic use, Energy Minister Chris…

Asharq Al Awsat
Business (FILES) This photograph shows the "Tour First" also known as "Tour CB31", headquarters to French multinational energy group Engie, in the La Defense business district in Courbevoie, western suburb of Paris, on March 25, 2025. (Photo by JOEL SAGET / AFP)

French Utility Engie Not Changing Middle East Strategy Despite Disruptions

French utility Engie is still looking to grow and develop its profile of energy assets in the Middle East despite the disruptions ⁠from the Iran War, Engie's …

Asharq Al Awsat
Business A cargo ship carrying containers from the Danish company Maersk sails into the Pacific entrance of the Panama Canal in Panama City on April 21, 2026. (Photo by MARTIN BERNETTI / AFP)

Maersk First-quarter Profit Beats Forecasts, Keeps Outlook Unchanged

Shipping group Maersk posted first-quarter operating profits slightly above analyst forecasts on Thursday and kept its full-year earnings guidance unchanged. …

Asharq Al Awsat
Business IBM: Saudi Arabia should use digital technologies to boost productivity and make them part of the workforce, not just an added technology layer.

IBM CEO to Asharq Al-Awsat: Saudi Arabia Enters AI Implementation Phase

At IBM Think 2026 in Boston, IBM’s bet on Saudi Arabia went beyond expanding its role in AI infrastructure. The US technology company sought to position itself…

Asharq Al Awsat (Boston)
Business An engineer seen at an Aramco facility. Photo: Aramco website

Aramco and Solutions by stc Collaborate to Deploy Next-generation Supercomputer

Saudi Aramco and solutions by stc, a leading enabler in digital transformation in the Kingdom and the region, are collaborating to deploy a next-generation…

Asharq Al Awsat (Riyadh)
Business Lucid studio in Al Khobar city. (Lucid)

Lucid Group to Asharq Al-Awsat: Saudi EV Market Gaining Strong Momentum

Current geopolitical tensions and disruptions in global oil markets are driving a sharp rise in electric vehicle sales across much of the world. Brent crude…

Asharq Al Awsat (Riyadh)
Business (L-R): EU commissioner for trade and economic security Maros Sefcovic, German Economy and Energy Minister Katarina Reiche, British State Secretary in charge of Trade Peter Kyle, US representative for Trade Jamieson Greer, French minister for trade Nicolas Forissier, Canadian state secretary in charge of international trade Maninder Sidhu, Italian Vice-Minister of Foreign Affairs and International Cooperation Maria Tripodi and Japanese Foreign Affairs delegate Minister Iwao Horii and Japanese Economy and Trade Minister Ryosei Akazawa prepare to pose for a group picture during the G7 Trade ministerial meeting in Paris, France, 06 May 2026. EPA/CHRISTOPHE PETIT TESSON / POOL

G7 Trade Talks Target Critical Minerals as US-EU Tariff Rift Strains Unity

Group of Seven trade ministers meeting in Paris on Wednesday sought common ground on securing critical mineral supplies that are dominated by China, but fresh…

Asharq Al Awsat
Business An investor watches a stock screen at the Saudi Stock Exchange in Riyadh (AFP)

Gulf Markets Higher as US-Iran Ceasefire Holds

Saudi Arabia's ⁠benchmark stock ⁠index rose 0.4% on Wednesday, with most constituents trading in positive territory. Gains were led by information technology,…

Asharq Al Awsat
Business A commercial street in Riyadh (AFP) 

Saudi Non-Oil Private Sector Defies ‘Hormuz Winds’, Regains Growth Momentum

Saudi Arabia’s non-oil private sector posted a notable positive shift in April 2026, regaining growth momentum despite escalating geopolitical pressures and…

Bandar al-Mosalam (Riyadh)
Business The Saudi capital, Riyadh (SPA)

Saudi Arabia’s Money Supply Breaks $882 Billion Barrier for 1st Time in History

Saudi Arabia’s money supply surpassed the $882 billion mark for the first time in its history at the end of March 2026, as broad money (M3) rose to SAR3.307…

Asharq Al Awsat (Riyadh)
Business  The Saudi capital (Reuters) 

Saudi Q1 Budget: Strategic Spending of $103 Billion Strengthens Economic Resilience

Saudi Arabia’s first-quarter 2026 budget performance figures showed the government remained firmly committed to development and social spending, with total…

Asharq Al Awsat (Riyadh)
Business An employee displays gold bars at the Korea Gold Exchange store in Seoul (AFP)

Gold Jumps 2% on Weaker Dollar, Middle East Peace Hopes

Gold prices rose 2% on Wednesday, buoyed by a weaker dollar, while softer oil prices eased fears of inflation and higher-for-longer interest rates, amid hopes…

Asharq Al Awsat
Business FILE PHOTO: Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva takes part in "Debate on the Global Economy" during the 2026 annual IMF/World Bank Spring Meetings in Washington, D.C., US, April 16, 2026. REUTERS/Ken Cedeno/File Photo

IMF Chief Georgieva Says War’s 'Adverse Scenario' Already in Effect

The head of the International Monetary Fund on Monday warned that inflation was already picking up and the global economy could face a “much worse outcome” if…

Asharq Al Awsat (Washington)
Business A crude oil tanker unloads at the oil terminal of the port in Qingdao, in China's eastern Shandong province on April 28, 2026. (Photo by CN-STR / AFP) / China OUT

Oil Extends Slide as Trump Indicates Possible Iran Peace Deal

Oil prices fell for a second day on Wednesday on expectations bottled-up supply from the key Middle East producing region could resume flowing after US…

Asharq Al Awsat
Business A general view of the liquefied natural gas plant operated by Sakhalin Energy at Prigorodnoye on the Pacific island of Sakhalin, Russia July 15, 2021. (Reuters)

Russia’s LNG Exports up 8.6% in January to April, Data Shows

Russia's ‌exports of liquefied natural gas rose 8.6% in January to April to 11.4 million metric tons from the same period last year due to supplies from…

Business Discussion of the repercussions of the Middle East war is expected to dominate an informal session on Tuesday. Ludovic MARIN / AFP/File

G7 Trade Ministers Set to Meet but Not Discuss Latest US Tariff Threat

G7 trade ministers are set to meet in Paris on Tuesday and Wednesday to discuss issues such as critical minerals and small packages but will not directly…

Asharq Al Awsat
Business People are seen out at night in downtown Cairo on April 28, 2026. (AFP)

Egypt Aims for Self-Sufficiency in Wheat for Subsidized Bread in 2028, Minister Says

Egypt, often the world's biggest wheat importer, aims to achieve self-sufficiency in wheat for its heavily subsidized bread in 2028, Agriculture Minister Alaa…

Business From left to right: Syrian Energy Minister Mohammed al-Bashir, Jordan’s Energy Minister Saleh al-Kharabsheh and Lebanon’s Energy and Water Minister Joe Saddi during their meeting in Amman. (Petra)

Jordan, Syria and Lebanon Agree Gas Swap Deal

Jordan’s Energy Minister Saleh al-Kharabsheh announced on Monday that an agreement has been reached for a gas exchange between Jordan, Syria and Lebanon, using…

Asharq Al Awsat (Amman)
Business Visitors at Riyadh Boulevard. (SPA)

Saudi Arabia Consolidates Itself as Region’s Top Tourism Economy

Saudi Arabia is steadily consolidating its position as the Middle East’s largest tourism economy, underpinned by strong investment momentum and sweeping…

Abeer Hommadi (Riyadh)