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 Analysts: Vision 2030 Accelerates Saudi Economy Reshaping Through Diversification

Analysts: Vision 2030 Accelerates Saudi Economy Reshaping Through Diversification

Saudi Arabia has successfully reshaped its economic base in recent years, transitioning from a model primarily reliant on oil to a more diverse and sustainable…

Mosaed al-Zayani (Riyadh)
Business Jeddah Islamic Port (Saudi Ports Authority)

Vision 2030 Transforms Saudi Arabia into a Global Logistics Platform

In a global landscape rocked by supply chain disruptions, Saudi Arabia has emerged as an indispensable pillar of stability on the international logistics map…

Asharq Al Awsat (Riyadh)
Business Vision 2030: The Story of Transformation from Traditional Management to Global Digital Leadership

Vision 2030: The Story of Transformation from Traditional Management to Global Digital Leadership

Saudi Arabia has embarked on a path of digital transformation and a knowledge-based economy as part of Vision 2030, relying on an advanced digital…

Abeer Hommadi (Riyadh)
Business The Public Investment Fund Tower in King Abdullah Financial District in the Saudi capital, Riyadh (KAFD)

PIF: The Cornerstone of a Sustainable Economy Under Saudi Vision 2030

With confident strides and a proactive vision, the Public Investment Fund (PIF) is leading the major economic diversification journey, creating opportunities…

Abeer Hommadi (Riyadh)
Business People gather at the Beijing International Automotive Exhibition (Auto China), in Beijing, China April 24, 2026. (Reuters)

China Condemns EU’s Inclusion of Chinese Entities in Sanctions Package Against Russia

China's commerce ministry on Saturday expressed "firm opposition" to the European Union's inclusion of Chinese entities in its 20th round of sanctions against…

Business The logo of DeepSeek is seen during the Global Developer Conference, organized by the Shanghai AI Industry Association in Shanghai on February 21, 2025. (AFP)

US State Dept Orders Global Warning About Alleged AI Thefts by DeepSeek, Other Chinese Firms

The US State Department has ordered a global push to bring attention to what it says are widespread efforts by Chinese companies, including AI startup DeepSeek…

Business US Secretary of Treasury Scott Bessent testifies during the Senate Appropriations Committee hearing on 'A Review of the President's FY2027 Budget Request for the Department of the Treasury' on Capitol Hill in Washington, DC, USA, 22 April 2026. (EPA)

Bessent Rules Out Renewal of Iranian and Russian Oil Waivers

Treasury Secretary Scott Bessent said Friday that the US does not plan to renew a waiver allowing the purchase of Russian oil and petroleum products that are…

Business US dollar banknotes (Reuters)

Dollar Set for Weekly Gain on Stalled US-Iran Talks and Middle East Uncertainty

The dollar was on track for its first weekly gain in three weeks on Friday in broadly muted trading, as stalled peace negotiations between the US and Iran…

Asharq Al Awsat
Business One of two gold bracelets is displayed during a media presentation at the National History Museum of Romania in Bucharest, Romania, 21 April 2026.EPA/ROBERT GHEMENT

Gold on Track for First Weekly Decline in Five as Iran War Drags On

Gold prices fell on Friday and were on course for their first weekly decline after a four-week winning streak, as a US-Iran deadlock kept oil prices elevated…

Asharq Al Awsat
Business Hapag-Lloyd employees monitor the status of cargo ships in the Strait of Hormuz on a screen, in Hamburg, Germany, Wednesday, April 15, 2026. (AP Photo/Ebrahim Noroozi)

Hapag-Lloyd Says One Ship Has Crossed Strait of Hormuz

Container shipping group Hapag-Lloyd said on Friday that one of its ships has crossed the Strait of Hormuz but did not have any information on the…

Asharq Al Awsat
Business FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo

TotalEnergies to Invest in $1.2 Billion Power Project in Kazakhstan

French energy major TotalEnergies on Friday said it would invest in a Kazakhstan-based onshore wind and energy storage project, valued at $1.2 billion, and…

Asharq Al Awsat
Business HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP

Oil Rises on Concern Over Escalating Middle East Tensions

Oil rose on Friday on concerns of a renewed military escalation in the Middle East after Iran released footage of commandos boarding a cargo ship in the Strait…

Asharq Al Awsat
Business The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA

Saudi Arabia, Switzerland Sign Agreement on Reciprocal Protection of Investments

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Minister of Investment Fahad Al-Saif have participated in the Saudi-Swiss…

Asharq Al Awsat (Jeddah)
Business A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026.  (Photo by ANGELA WEISS / AFP)

US Stocks Dip on Mixed Earnings as Markets Monitor Iran

Wall Street stocks retreated from records early Thursday as markets digested a trove of mixed earnings reports and monitored the latest dynamics between the…

Asharq Al Awsat
Business Saudi woman walks at the Saudi stock market in Riyadh - Reuters

What Does the Inclusion of Saudi Bonds in the J.P. Morgan Index Mean?

Saudi Arabia’s debt market is set for a strategic shift in early 2027, following J.P. Morgan’s announcement that local-currency bonds will be included in its…

Asharq Al Awsat (Riyadh)
Business Central Bank of Egypt building (A.P.)

S&P Warns African Sovereign Credit Rating Risks Likely to Worsen

S&P Global Ratings warned on Thursday that the risks to African sovereign credit scores were likely to worsen the longer the Middle East war drags on. The…

Asharq Al Awsat
Business An image made with a drone shows oil gas and fuel storage units at the Navigator Terminal in Grays, Britain, 14 April 2026. EPA/NEIL HALL

Gold Slips on Inflation Concerns as High Oil Prices and Stronger Dollar Weigh

Gold prices fell on Thursday, pressured by a stronger dollar and elevated oil prices that stoked inflation worries, as investors tried to assess the conflict…

Asharq Al Awsat
Business Skyscrapers in London's financial district (Reuters)

UK Budget Deficit for 2025/26 Narrows to Six-year Low

Britain's budget deficit for the last financial year narrowed to a six-year low as a percentage of economic output although borrowing for March alone exceeded…

Asharq Al Awsat (London)
Business FILE PHOTO: Signage is seen at the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, US, June 30, 2022. REUTERS/Andrew Kelly/File Photo

Saudi Arabia, Philippines to Join JPMorgan Emerging Market Bond Index in 2027

J.P. Morgan said on Wednesday that Saudi Arabia and the Philippines will be added to its local currency emerging market debt index from January 29 next year. …

Asharq Al Awsat
Business A worker arranges spools of thread at a textile factory in Haiyan, Jiangsu province, China (Reuters)

Oil to Fabric: Middle East Crises Reshape Global Fashion

Rising oil prices are no longer just an energy market story; they are feeding directly into the cost of clothing. From petrochemical plants to fabric mills and…

Abeer Hommadi (Riyadh)
Business US dollar banknotes. (Reuters)

Dollar Gains as Iran War Keeps Central Banks in Wait-and-see Mode

The dollar edged up against the euro on Wednesday on lingering concerns about the ongoing US-Israeli war with Iran, even after President Donald Trump extended…

Asharq Al Awsat
Business Central Bank of Türkiye (official website)

Türkiye Central Bank Holds Rates at 37% as it Eyes Iran War Fallout

Türkiye's central bank held its key interest rate at 37% as expected on Wednesday, deciding not to hike but warning that fallout from the Iran war could yet…

Asharq Al Awsat
Business FILE PHOTO: FILE PHOTO: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo

Oil Prices Rise despite US-Iran Ceasefire Extension

Oil prices edged higher Wednesday while Europe's main stock markets eased on uncertainty surrounding the prospect of resumed Mideast peace talks following an…

Asharq Al Awsat
Business Officials from PIF and State Street IM (Saudi PIF)

PIF Anchors State Street’s Newly Launched Saudi Equity ETF

The Saudi Public Investment Fund (PIF) and State Street Investment Management (State Street IM), one of the world’s largest asset managers, launched on…

Asharq Al Awsat (Riyadh)