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 HSBC logo is seen in this illustration taken January 7, 2026. REUTERS/Dado Ruvic

HSBC Reportedly Plans Job Cuts Across UK Wealth Business in AI Push

HSBC is planning sweeping job cuts across its UK wealth management business, including a sharp reduction in financial advisers and specialist staff, as part of…

Asharq Al Awsat (London)
Business A general view of the cityscape in Oslo, Norway November 17, 2020. NTB SCANPIX/Cornelius Poppe via REUTERS

Norway Plans to Spend $63.6 Billion from Wealth Fund in 2027

Norway's minority Labour Party government said on Wednesday it plans to raise its spending level in 2027 from the country's $2.3 trillion sovereign wealth fund…

Asharq Al Awsat
Business Saudi capital, Riyadh (Reuters)

Moody’s: Spending Restraint to Strengthen Saudi Arabia’s Fiscal Recovery in 2027

Credit rating agency Moody’s said on Tuesday that the fiscal recovery planned for Saudi Arabia in 2027 supports its view that prudent fiscal management will…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva participates in a press briefing at the IMF/World Bank 2026 Spring Meetings in Washington, D.C., US, April 17, 2026. REUTERS/Elizabeth Frantz/File Photo

IMF Chief Warns Energy Shock, Growing Debt and AI Risks Threaten Global Growth

The global economy is under threat from persistently high energy prices, record public debt and risks from the AI investment boom, International Monetary Fund…

Asharq Al Awsat
Business A Chinese-flagged oil tanker is moored at an oil terminal at Tsing Yi port in Hong Kong, China, March 19. (REUTERS/Joyce Zhou)

Chinese Independent Refiners Boost Iraqi Oil Purchases, Traders Say

Chinese independent refiners have stepped up purchases of crude from Iraq and Qatar for October and November delivery to replace dwindling Iranian supplies, as…

Asharq Al Awsat (London)
Business Saudi Energy Minister Prince Abdulaziz bin Salman. Reuters file photo

Saudi Energy Minister: Oil Pumped Through East-West Pipeline Reached 5.8 Million Barrels

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that oil pumped through the East-West Pipeline, reached 5.8 million barrels as of Tuesday…

Asharq Al Awsat (Manama)
Business Agricultural land in Saudi Arabia (SPA) 

Saudi Arabia Bolsters Food Security with $798 Million for Strategic Commodities

Saudi Arabia’s Agricultural Development Fund (ADF) is playing a central role in national efforts to bolster food security, allocating SAR 3 billion ($798…

Saeed al-Abyad (Jeddah)
Business A citizen captures footage at a conference in Riyadh (SPA)

Digital Resilience: Saudi Arabia Readies Government Services for Continuity

A student follows a lesson in a virtual classroom, a patient receives a medical consultation from home and a beneficiary accesses an official document on a…

Abeer Hommadi (Riyadh)
Business Ships are anchored off the coast of Khasab in Oman's Musandam Governorate, near the Strait of Hormuz, on October 2, 2026. (Photo by AFP)

World Bank to Asharq Al-Awsat: Easing of Hormuz Shock to Drive Saudi Growth to 7.9% in 2027

Saudi Arabia's economy is expected to stage a strong rebound in 2027 as the effects of disruptions to energy and trade flows fade. The World Bank forecasts the…

Hala Saghbini (Riyadh)
Business (FILES) An aerial view shows ships anchored off the coast of Khasab in Oman's Musandam Governorate, near the Strait of Hormuz, on October 2, 2026. (Photo by AFP)

World Bank Projects Regional Growth to Reach 7.8% in 2027

The World Bank said Tuesday that if the Middle East conflict subsides by the end of this year, regional growth excluding Iran is projected to rebound to 7.8%…

Asharq Al Awsat (Riyadh)
Business Tech giants are raising debt to finance the construction of data centers that power AI. Brandon Bell / GETTY IMAGES NORTH AMERICA/AFP

AI Borrowing Binge Rattles US Markets

The world's richest companies can no longer rely on their massive cash piles alone to stay in the artificial intelligence race and have suddenly started…

Asharq Al Awsat
Business A woman passes in front of a gold shop in Hong Kong (AFP)

Gold Inches Lower as Firmer Dollar, Higher Yields Weigh

Gold eased on Tuesday, pressured by a firmer US dollar and rising Treasury yields, though losses were limited by easing expectations of a Federal Reserve…

Asharq Al Awsat
Business Crude oil, gasoline, and diesel storage tanks at Kinder Morgan's facility in Los Angeles (Reuters)

Oil Stocks in US Strategic Petroleum Reserve Fall to Lowest Level since 1982

Stocks of crude oil in the US Strategic Petroleum Reserve fell to 283 million barrels last week, the lowest level since October 1982, according to data from…

Asharq Al Awsat
Business A man monitors trading screens in the Saudi market (Saudi Exchange)

Saudi Market Resumes Decline Under Pressure from Banking Sector

The Saudi Exchange's main index, TASI, resumed its decline at the close of Monday's trading, falling 0.25 percent to 10,479 points. The decline was driven…

Asharq Al Awsat (Riyadh)
Business A SAL booth at the Saudi Warehousing & Logistics Expo (Asharq Al-Awsat)

Saudi Arabia's SAL Expands Logistics Options as Global Trade Map Shifts

The speed and cost of transporting shipments are no longer the only factors determining companies' choices in the logistics services market. Geopolitical…

Sara bin Shamran (Riyadh)
Business Saudi Aramco's chief executive Amin Nasser - Reuters

Saudi Aramco Boss Says Global Oil Stockpiles 'Scarily Thin'

Global oil stockpiles are "scarily thin" owing to the US-Iran war, Saudi Aramco's chief executive Amin Nasser said Monday. "The system is already straining,…

Asharq Al Awsat
Business Brussels toughened its stance towards Beijing to defend businesses from what it believes is unfair competition in critical sectors including cars. CN-STR/AFP/File

EU, China to Hold Beijing Talks to Avert Trade War

EU trade chief Maros Sefcovic will head to Beijing on Thursday for two days of make-or-break meetings with Chinese officials to try to stave off a trade war. …

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

Saudi Non-Oil Sector Grows at Seven-Month High in September

Saudi Arabia's non-oil private sector recorded significant acceleration in September 2026, as the Riyad Bank Purchasing Managers’ Index (PMI), seasonally and…

Asharq Al Awsat
Business Part of the New Administrative Capital east of Cairo (New Capital Company)

Egypt Non-oil Downturn Deepens in September as Orders Slump

Egypt's non-oil ‌private sector contracted at a faster pace in September as output and new orders fell sharply amid inflation and geopolitical disruptions…

Asharq Al Awsat
Business FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026. REUTERS/Stringer/File Photo

Mideast Oil Exports Exceeded Pre-Iran War Levels despite Hormuz Disruptions

Middle East oil exports, excluding Iran, surpassed their pre-war levels last week, despite attacks on ships in the Strait of Hormuz, according to data from the…

Asharq Al Awsat
Business A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).

Al-Moammar Receives First Work Order Under HUMAIN Agreement, Worth More Than 148% of 2025 Revenue

Al-Moammar Information Systems Company (MIS) has received its first work order under its agreement with HUMAIN, with a total value exceeding 148 percent of the…

Asharq Al Awsat (Riyadh)
Business FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo

OPEC+ Agrees to Keep November Oil Output Targets Steady

OPEC+ agreed to keep oil production targets steady for November at a meeting on Sunday, the producer group said, in line with expectations that further output…

Asharq Al Awsat
Business A worker at one of Saudi Aramco's gas facilities.

Saudi Arabia Announces Results of Natural Gas Distribution Licensing Competition in Al-Kharj

The Ministry of Energy today announced the results of a competition for a license to establish, own, and operate a natural gas distribution network in the…

Asharq Al Awsat (Riyadh)
Business An investor walks past the "Tadawul" logo in the Saudi market (Reuters)

What Does Saudi Exchange’s New Market Order Mechanism Mean?

Saudi Exchange began implementing an updated market order mechanism on October 4, 2026, in the Main Market and Nomu-Parallel Market, in a move aimed at…

Asharq Al Awsat (Riyadh)