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 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)

Japan’s Taiyo Oil to Receive Cargo of Oil from Russia’s Sakhalin-2, Mainichi Says

Japan's Taiyo Oil is set to receive a cargo of crude oil from Russia's Sakhalin-2 project, the Mainichi daily reported on Saturday, citing Japan's Ministry of…

Business A traffic light for cyclists is pictured in front of a giant logo of German automotive brand Mercedes-Benz is seen atop a Mercedes dealership in Offenbach, western Germany, on April 29, 2026. (AFP)

Trump Auto Tariff Hike Could Cost Germany Nearly $18 Billion in Output, Institute Says

The tariff ‌hike on cars and trucks from the European Union announced by US President Donald Trump could cost Germany nearly 15 billion euros ($17.58 billion)…

Business A drone picture shows an LNG (liquid natural gas) carrier ship docked at LNG Canada's export facility on Canada's Pacific coast in Kitimat, British Columbia, Canada August 19, 2025. (Reuters)

LNG Canada Exports Hit 1 Million Metric Tons for First Time in Single Month

Exports of liquefied natural gas from Canada’s LNG Canada plant topped 1 million metric tons in April, setting a monthly record, according to LSEG data. LNG…

Business Cargo containers line a ship at the Port of Oakland on Wednesday, Aug. 6, 2025, in Oakland, Calif. (AP)

Trump Says He’ll Place 25% Tariff on Autos from EU, Accusing Bloc of Not Complying with Trade Deal

President Donald Trump said Friday that he will increase the tariffs charged on cars and trucks from the European Union next week to 25%, a move that could…

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

Chevron's Upstream Strength Lifts First-quarter Earnings Past Estimate

Chevron exceeded Wall Street estimates for its first-quarter earnings on Friday, as elevated oil prices linked to the US-Israeli war on Iran helped boost…

Asharq Al Awsat
Business A jeweller holds gold bars in Cairo, Egypt, March 9, 2026. (Reuters)

Gold Heads for Weekly Loss as High Oil Prices Feed inflation worries

Gold prices fell more than 1% on Friday and were headed for a weekly loss of a similar magnitude, as elevated oil prices continued to fan inflation concerns…

Asharq Al Awsat
Business A man uses his smartphone while riding the subway in Tehran, Iran, Tuesday, Dec. 24, 2024. (AP)

Iran’s Monthslong Internet Shutdown Is Crushing Businesses in an Already Battered Economy

At her studio in Iran's capital, Amen Khademi prepared a fashion shoot for a jacket she designed with Persian-inspired motifs. But even as she applied lipstick…

Business Brazil's Vice President Geraldo Alckmin during a meeting with foreign media at the Planalto Palace in Brasilia, Brazil, April 22, 2026. REUTERS/Jorge Silva

EU-Mercosur Trade Deal Takes Provisional Effect, Boosting Hopes for Millions

The long-awaited trade deal between South American bloc Mercosur and the European Union took effect Friday, at least provisionally. The initiative creates a…

Asharq Al Awsat
Business FILE - An oil vessel is visible in the Caribbean Sea at sunset during a nearby conference aimed at transitioning away from fossil fuels Tuesday, April 28, 2026, in Santa Marta, Colombia. (AP Photo/Ivan Valencia, File)

Oil Prices Rise with No Sign of End to Iran War

Oil rose on Friday as efforts to resolve the Iran war remained at an impasse, with Tehran still blocking the Strait of Hormuz and the US Navy blocking exports…

Asharq Al Awsat
Business A container ship at a Saudi port (SPA)

Saudi Economy Grows 2.8% as Non-Oil Sector Drives Expansion

Saudi Arabia’s economy maintained positive growth despite regional tensions and oil market volatility, reflecting strong fundamentals and the continued impact…

Bandar al-Mosalam (Riyadh)
Business Facilities of the PCK Schwedt refinery in Schwedt, northeastern Germany, are seen at the company's plant on April 30, 2026 - (File Photo by Tobias SCHWARZ / AFP)

Oil Prices Whipsaw while US Stocks Glide Near their Record Heights

Oil prices whipsawed on Thursday and surged toward their highest levels since the war with Iran began, only for the leaps to quickly vanish. The US stock…

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

Saudi GDP Grows 2.8% in First Quarter

Saudi Arabia's real gross domestic product grew 2.8% in the first quarter, year-on-year, preliminary government estimates showed on Thursday. Non-oil…

Asharq Al Awsat (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 Asia to Keep Policy in Balance Amid Energy Disruptions

Asian countries will need to keep their powder dry in preparation for future shocks even as they tackle an energy crisis caused by the Iran War, IMF Director…

Asharq Al Awsat
Business FILE -Clouds cover the sky over the headquarters of the European Central Bank in Frankfurt, Germany, Sept. 11, 2025. (AP Photo/Michael Probst, File)

Euro Zone Inflation Soars Further Above ECB Target

Euro zone inflation surged further in April on soaring energy costs, Eurostat data showed on Thursday, adding to the case for interest rate hikes, even if…

Asharq Al Awsat
Business FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a building in Rueil-Malmaison, near Paris, France, April 14, 2025. REUTERS/Stephanie Lecocq/File Photo

TotalEnergies and Nextnorth Begin Building $300 Million Philippine Solar Farm

French oil major TotalEnergies and Philippine renewables developer Nextnorth have secured financing for a 440 megawatt-peak solar park in the Asian country and…

Asharq Al Awsat
Business A SABIC manufacturing site in Jubail (SABIC)

SABIC Swings to Q1 Profit

Saudi Basic Industries Corporation (SABIC), a global leader in chemicals, said on Wednesday it returned to profit in the first quarter of 2026, posting net…

Asharq Al Awsat (Riyadh)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies Benjamin Gallezot. SPA

Saudi Arabia, France Discuss Enhancing Mining Sector Partnership

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies…

Asharq Al Awsat (Riyadh)
Business Saudi Crown Prince Mohammed bin Salman holding talks with Pakistan's Prime Minister Shehbaz Sharif in Jeddah on March 12, 2026 (SPA).

Shehbaz Sharif: We Repaid $3.5 Billion in Debt Thanks to Saudi Arabia’s 'Pivotal' Support

Pakistan’s Prime Minister Shehbaz Sharif announced on Wednesday that his country had successfully repaid $3.5 billion in mandatory bilateral debt, affirming…

Business Jeddah Islamic Port (Mawani)

New Shipping Service Connects Jeddah Islamic Port with China, Malaysia and Egypt

The Saudi Ports Authority (Mawani) has announced the addition of China United Lines’ new SGX shipping service to Jeddah Islamic Port, enhancing the Kingdom’s…

Asharq Al Awsat (Jeddah)
Business King Abdullah Economic City port (Economic Cities and Special Zones Authority)

Saudi Trade Offices Contribute to Creating 2,221 Export Opportunities, Securing 393 New Investments

Saudi Arabia’s General Authority of Foreign Trade said Saudi commercial attachés contributed to creating 2.221 export opportunities and secured 393 new…

Bandar al-Mosalam (Riyadh)
Business FILE PHOTO: Iranian flag overlayed with a rising stock graph and 3D printed gas pump miniature are seen in this illustration taken June 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Analysts Say Iran is Drowning in its Own Oil

The US naval blockade is having significant impact on oil flows in Iran, which is running out of places to store its own crude and only about 22 days of…

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

Flight to Stability Boosts Saudi Real Estate

As geopolitical turmoil redraws the regional investment map, Saudi Arabia is emerging as a “fortress of stability” and a safe haven for capital. Experts…

Fatehelrahman Yousif (Riyadh)
Business stc group CEO Eng. Olayan Alwetaid stated that the group began 2026 with strong operational and financial momentum. Asharq Al-Awsat

STC Profits Jump 12% as Revenues Near $5.3 Billion

stc Group has announced its preliminary financial results for the period ending March 31, 2026, reporting an increase in revenues during the first quarter,…

Asharq Al Awsat (Riyadh)
Business The OPEC logo on the building prior to the 186th Ordinary Meeting of the Organization of Petroleum Exporting Countries (OPEC) at the OPEC headquarters in Vienna, Austria, 03 June 2023. (EPA)

UAE Announces it Is Leaving OPEC, OPEC+

The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+ with the decision going into effect on May 1. “This decision reflects the UAE’s long…