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  Bassem Abdul Karim, director general of the state-run Basra Oil Company (BOC), speaks during an interview with Reuters, in Basra, Iraq, April 6, 2026. (Reuters)

Iraq Could Restore Oil Exports to Pre-War Level within a Week if Hormuz Reopens, Basra Oil Chief Says

Iraq could restore crude oil exports to around 3.4 million barrels per day within a week provided the Iran war ends and the Strait of Hormuz reopens, the head…

Business AirAsia planes stand on the tarmac at Kuala Lumpur International Airport Terminal 2 (KLIA2) in Sepang, Malaysia, January 21, 2026. (Reuters)

Asian Airlines Trim Schedules and Carry Extra Fuel as Supplies Tighten

Airlines across Asia are cutting flights, carrying extra fuel from home airports and adding refueling stops as the Middle East conflict squeezes jet fuel…

Business Chinese President Xi Jinping. (AFP file)

China’s Xi Urges Faster Development of New Energy System as Middle East War Continues

Chinese President Xi Jinping has called for accelerated planning and construction of a new energy system to safeguard the country's energy security, weeks into…

Business A vendor displays gold bracelets at a shop in the Grand Bazaar in Istanbul (AFP)

Gold Ticks Down as Trump's Iran Deadline Keeps Markets Cautious

Gold ticked down on Tuesday as investors stayed cautious ahead of a deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz. Spot…

Asharq Al Awsat
Business FILE PHOTO: International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, US, September 4, 2018. REUTERS/Yuri Gripas/File Photo

IMF: Middle East War Means 'All Roads' Lead to Higher Prices, Slower Growth

The war in the Middle East will lead to higher inflation and slower global growth, the head of the International Monetary Fund told Reuters on Monday, ahead of…

Asharq Al Awsat
Business FILE PHOTO: A map showing the Strait of Hormuz and a 3D printed oil pipeline are seen in this illustration taken March 23, 2026. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

Oil Prices Rally, Stocks Mixed after Trump's Latest Iran Threat

Oil prices rose Tuesday while equities were mixed as investors assessed Donald Trump's latest deadline for Iran to reopen the strategic Strait of Hormuz or be …

Asharq Al Awsat
Business A cargo ship in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the US-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026. REUTERS/Stringer/File Photo

Iraq Could Restore Oil Exports to Pre-war Level within a Week if Hormuz Reopens, Basra Oil Chief Says

Iraq could restore crude oil exports to around 3.4 million barrels per day within a week provided the Iran war ends and the Strait of Hormuz reopens, the head…

Asharq Al Awsat
Business Gold jewelry in a Korean gold exchange store in Seoul (AFP)

Gold Holds Nearly Steady with Focus on US-Iran Tensions

Gold prices were nearly steady on Monday, as market participants stayed cautious and awaited further signals on the evolving US-Iran situation and its impact…

Asharq Al Awsat
Business File photo of a police officer standing near a Moroccan national flag near the main stadium during preparations for the FIFA Club World Cup in Agadir, December 10, 2013. REUTERS/Amr Abdallah Dalsh

Morocco Launches Financial Futures Trading with Contract on MASI 20 Index  

Morocco on Monday began futures trading in financial instruments with its first listing of a standard futures contract on the MASI 20 equity index, the…

Asharq Al Awsat
Business FILE PHOTO: A dog looks out of a car window next to signs on empty fuel dispensers at a Shell petrol station that ran out of fuel, in Sydney, Australia, March 30, 2026. REUTERS/Hollie Adams/File Photo

Oil Prices Fall on US-Iran Receiving Peace Proposal

Oil prices fell more than $2 in choppy trade on Monday, as investors awaited clarity on the status of talks between the US and Iran and remained wary about…

Asharq Al Awsat Asharq Al Awsat
Business US dollar banknotes are seen in this illustration taken March 24, 2026. (Reuters)

Dollar Steady as Traders Weigh Escalating Iran War, Ceasefire Hopes

The dollar was steady on Monday, while the yen flirted with the crucial 160 per dollar level, as nervous investors took stock of the escalating Iran war, with…

Business The Federal Reserve building in Washington. (Reuters)

Citigroup Pushes Back Fed Rate Cut Timeline After Strong Job Numbers

Citigroup ‌has pushed back its Fed rate-cut timeline, citing unexpectedly strong US job gains and persistent inflation risks. The Wall Street brokerage…

Business A view of the annual Local Content Award ceremony organized by the authority (SPA) 

Saudi Local Content Drive Gains Momentum, with Spending, Investment Opportunities Exceeding $352 billion

Saudi Arabia’s push to boost local content gathered pace between 2019 and 2023, with cumulative corporate procurement spending reaching about SAR 683 billion (…

Asharq Al Awsat (Riyadh)
Business A man fills up his car at a gas station in Seoul, South Korea, March 9, 2026. REUTERS/Kim Hong-Ji

South Korea's Lee Says Country Must Balance Risk as Hormuz Disruptions Threaten Oil Supplies

South Korea must accept a degree of risk in importing crude oil from the Middle East amid blockages of the Strait of Hormuz, President Lee Jae Myung said on…

Asharq Al Awsat
Business An Iraqi petroleum products tanker (Iraqi News Agency) 

Pessimism Grows over Iraq’s Prospects for Resuming Oil Exports

A growing number of Iraqi oil and economic experts are voicing pessimism about the country’s ability to resume crude exports via the Gulf and the Strait of…

Fadhel al-Nashmi (Baghdad)
Business A worker collects engine oil as he works at a degassing station in Zubair oil field, near Basra, Iraq, Saturday, March 28, 2026. (AP Photo/Leo Correa)

Iraq’s SOMO Urges Customers to Send Oil Loading Plans after Hormuz Exemption

Iraq's state oil marketer SOMO has asked its customers to submit crude oil lifting schedules within 24 hours, a document reviewed by Reuters showed, following…

Business FILE PHOTO: A map showing the Strait of Hormuz and a 3D printed oil pipeline are seen in this illustration taken March 23, 2026. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

More Indian-flagged LPG Ships Exit the Gulf

Two more Indian-flagged liquefied petroleum gas tankers, Green Asha and Green Sanvi, have exited the Gulf carrying the fuel for the South Asian nation,…

Asharq Al Awsat
Business This photograph shows the entrance to the International Energy Agency (IEA) headquarters in Paris on March 11, 2026. (AFP)

IEA Hails Saudi Arabia’s ‘Rapid Response’ to Strait of Hormuz Crisis

Countries must resist the urge to hoard oil and fuel during the energy crisis triggered by the US-Israeli war on Iran, head of the International Energy Agency…

Asharq Al Awsat (Paris)
Business General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah

JMMC Holds 65th Meeting via Videoconference, Discusses Energy Security and Market Stability

The Joint Ministerial Monitoring Committee (JMMC), comprising Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela holds its…

Asharq Al Awsat
Business An investor monitors stock prices on a screen at the Saudi stock market in Riyadh (AFP)

Saudi Market Edges Higher on Insurance and Basic Materials Support

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) edged up 0.03 percent to 11,272 points on Sunday, supported by insurance and basic materials stocks…

Asharq Al Awsat (Riyadh)
Business King Khalid International Airport in Riyadh (SPA)

Saudi Airports Serve as Safety Valve for Regional Air Traffic as ‘Hormuz Fallout’ Hits Global Aviation

Conflicts in the region are no longer confined to the geography of battlefields; their fallout has reached one of the world’s most vital and sensitive…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A model of an oil pump is seen in front of the OPEC logo in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

OPEC+ Agrees in Principle on Theoretical Oil Output Hike amid Iran War Paralysis

OPEC+ has agreed in principle to raise its oil output quotas by 206,000 barrels per day for May, three sources with knowledge of the group's talks said ahead…

Asharq Al Awsat
Business People walk past a closed cinema as shops close early under a government-ordered curfew aimed at reducing energy costs in downtown Cairo on April 2, 2026. (AFP)

War Weighs on Egypt’s Private Sector as PMI Hits Near Two-Year Low in March

Egypt's non-oil private ‌sector deteriorated at its sharpest pace in almost two years in March, as the Middle East war drove up costs and dampened client…

Business Festus Mwirotsi, 34, scouts for pests and diseases in roses meant for export at Isinya Roses farm in Kajiado, Kenya, March 24, 2026, as Kenya's flower industry is losing up to $1.4 million a week as the Iran war cuts demand and disrupts shipping. (AP)

Middle East War Presents ‘Serious Risk’ for Africa, Warns Report

The Middle East war "presents a serious risk to Africa", the African Union and the African Development Bank (AfDB) said in a report seen by AFP Saturday. The…