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 Thomas Kurian, CEO of Google Cloud, speaks to Asharq Al-Awsat. (Asharq Al-Awsat)

Google Cloud CEO to Asharq Al-Awsat: Our Data Centers Are Crisis-Resilient, Not Bound by Borders

At Google Cloud Next in Las Vegas, Thomas Kurian, chief executive of Google Cloud, responded to a question from Asharq Al-Awsat about attacks on hyperscale…

Nassim Ramadan (Las Vegas)
Business Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and President of Oman's Public Authority for Special Economic Zones and Free Zones Qais Al-Yousef meet in Riyadh on Monday. (SPA)

Saudi Industry Minister Discusses Boosting Industrial Cooperation with Oman

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef met in Riyadh on Monday with President of Oman's Public Authority for Special Economic Zones…

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

Gold Hits Three-Week Low with US-Iran Talks, Central Bank Decisions in Focus

Gold fell to a three-week low on Tuesday, as elevated oil prices kept inflation concerns high, while investors awaited key central bank decisions this week to…

Business The BP (British Petroleum) logo is seen at a gas station in Washington, Oct. 25, 2007. (AP)

BP Reports Huge Profit Rise in First Quarter

British energy giant BP on Tuesday reported a sharp increase in profits in the first quarter as crude oil prices soared amid the Middle East war. Oil prices…

Business Light reflects off buildings at sunset in Beijing on April 27, 2026. (AFP)

China Leaders Urge Self-Reliance to Combat Economic ‘Difficulties’

China's leaders urged greater self-reliance in the technology sector and industrial chains and stronger domestic demand to combat "difficulties and challenges"…

Business A clothes vendor prepares her displays as she opens up for business at Mahanak Market in Bangkok early on April 20, 2026. (AFP)

Thailand Projects Lower Growth, Fewer Tourists Due to Middle East War

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said…

Business  An offshore drilling platform operated by Sable Offshore Corp. is seen from Refugio State Beach near Goleta, Calif., Sunday, April 26, 2026. (AP)

Oil Prices Rise 1% as No End to Iran War Stand-off Seems in Sight

Oil prices rose 1% on Tuesday, extending gains from the previous session, as efforts to end the US-Iran war appear stalled, with the crucial Strait of Hormuz…

Business People conduct their businesses around the traditional grand bazaar of Tehran, Iran, March 29, 2026. (AP)

Iran’s Economy Has Been Battered. Its Leaders Still Think Trump Will Blink First

In the heartland of Iran’s famed carpet-making industry, manufacturing has ground to a near halt. Dairies struggle to find packages for milk and butter. Giant…

Business An aircraft of low-cost Irish airline Ryanair taxis before take off the Berlin-Brandenburg airport in Schoenefeld near Berlin, on April 4, 2024. (AFP)

Budget Airlines First to Cut Flights as Jet Fuel Prices Soar

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are…

Business The Shell gas logo is displayed at a gas station on April 27, 2026 in Austin, Texas. (Getty Images/AFP)

Shell to Acquire Canada's ARC In Output-Boosting $16.4 Billion Deal

Shell has agreed to buy Calgary-based Canadian energy company ARC Resources in a deal valued at $16.4 billion, including debt, which the British oil and gas…

Asharq Al Awsat (London)
Business Participants at the Global Labor Market Conference in Riyadh (SPA)

Saudi Arabia Links Recruitment to Digital Systems to Strengthen Compliance and Wage Protection

Saudi Arabia’s labor market is undergoing rapid transformation driven by reforms under Vision 2030, aimed at strengthening compliance, protecting wages, and…

Abeer Hommadi (Riyadh)
Business Gold bracelets and necklaces displayed for sale in a gold shop at the Grand Bazaar in Istanbul (AFP)

Gold Steady as Investors Await Clarity on US-Iran Talks

Gold prices held largely steady, as investors stayed on the sidelines awaiting clarity on the stalled peace talks between the United States and Iran. Spot…

Asharq Al Awsat
Business  Commuters arrive to take a ride across the Bosphorus at Karakoy ferry terminal in Istanbul, Türkiye, Thursday, April 23, 2026. (AP)

Türkiye Unveils Steep Tax Cuts to Boost Competitiveness, Investment

Türkiye unveiled details on Monday of a broad package of incentives aimed to boost competitiveness and attract investment, and also position its biggest city…

Business The Nesaj Town project in the Al Wajiha suburb of Dammam, one of the Sakani housing program projects developed in partnership with the private sector. (SPA)

Saudi Home Ownership Rises to 66 Percent on Decade of Reforms

Saudi Arabia has raised home ownership among its citizens to 66.24 percent over the past decade through regulatory reforms, expanded mortgage financing and…

Bandar al-Mosalam (Riyadh)
Business A drone view shows the Bahamas‑flagged LNG tanker Nohshu Maru sailing through the Panama Canal as it operates at top capacity, with the war in Iran boosting demand from owners and operators of liquefied natural gas vessels, in Gamboa City, Panama, March 24, 2026. (Reuters)

LNG Tanker Orders Gain Pace Despite Mixed Outlook from Iran War

Global orders to build liquefied natural gas carriers (LNGC) are set to rebound this year after a 2025 slump as growing LNG output and vessel fuel efficiency…

Business A view of the King Abdullah Financial District in Riyadh. (SPA)

Saudi Banks Post Record Quarterly Profits of $6.4 Billion

Saudi Arabia’s banking sector reinforced its role as a pillar of the national economy, posting a record start to 2026 with unprecedented first-quarter profits…

Mohammed al-Mutairi (Riyadh)
Business  Visitors tour exhibition booths by Huawei at the Auto China 2026, in Beijing, Friday, April 24, 2026. (AP)

China Vows Countermeasures if EU Enacts ‘Made in Europe’ Plan

Beijing slammed on Monday an EU plan aimed to bolster the bloc's industries against fierce competition from China, vowing countermeasures if it is enacted. …

Business 19 March 2026, Hesse, Frankfurt Main: A sign reading "European Central Bank - Eurosystem" stands in front of the European Central Bank (ECB) in Frankfurt. (dpa)

ECB Set to Hold Rates Steady with Eye on Iran Crisis

The European Central Bank is expected to hold interest rates steady again this week as it waits to see if the inflation spike triggered by the Middle East war…

Business US Dollar banknotes are seen in this illustration taken July 17, 2022. (Reuters)

Dollar Drifts as Traders Assess Stuttering US-Iran Talks

The US dollar wobbled on Monday as wavering hopes of a deal to end the Middle East war left investors on edge in a week when they will also be looking for…

Business The Noble Endeavor (C) and Well-Safe Defender (R) oil rigs are seen on the Cromarty Firth on the north-east coast of Scotland on April 24, 2026. (AFP)

Oil Climbs Nearly 2% as US-Iran Peace Talks Stall

Oil prices extended gains on Monday, rising nearly 2% as peace talks between the US and Iran stalled while shipments through the Strait of Hormuz remained…

Business A market display screen inside the headquarters of the Saudi Tadawul Group in Riyadh (Asharq Al-Awsat)

Saudi Stocks Close Higher at 11,122 Points amid Mixed Performance

Saudi Arabia’s main stock index (TASI) ended Sunday’s session up 0.1 percent to close at 11,122 points, with liquidity of about 3.6 billion riyals ($960…

Asharq Al Awsat
Business The Saudi Center for Competitiveness and Business offers support for investors in the local market (SPA)

Saudi Economy Surpasses $1 Trillion Mark, Grows 80% Since Vision 2030’s Launch

Saudi Arabia’s economy has surpassed the $1 trillion mark for the first time, expanding by 80 percent since the launch of Vision 2030, according to the Kingdom…

Bandar al-Mosalam (Riyadh)
Business Solar power in Saudi Arabia (SPA)

Vision 2030 Redefines Saudi Arabia's Wealth from Oil Supplier to Global Energy Hub

Saudi Arabia has chosen to rethink its relationship with its resources, asking a different question: How can we make what we have work to its fullest potential…

Zeinab Ali (Riyadh)
Business The Saudi capital, Riyadh (SPA)

Saudi Vision 2030 Enters Third Phase with 93% of Targets Met

Saudi Arabia will enter the third phase of its Vision 2030 reform program in 2026, with 93% of performance indicators having met, exceeded or nearly reached…

Zeinab Ali (Riyadh)