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Friday, October 16, 2026 · Riyadh

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Business

The latest business coverage from AJEL English — updated around the clock.

Gold prices rise in Saudi Arabia as 21-karat hits SAR 440

Gold prices rise in Saudi Arabia as 21-karat hits SAR 440

Gold prices in Saudi Arabia climbed on Monday, with 21-karat gold—the most traded—reaching SAR 440.73 ($117.53) per gram.

Oil prices edge lower in early Friday trading

Oil prices edge lower in early Friday trading

Saudi Arabia sees rapid digital transformation, says AI governance official

Saudi Arabia sees rapid digital transformation, says AI governance official

Egypt keeps fuel prices unchanged through late 2026

Egypt keeps fuel prices unchanged through late 2026

Partnerships and investment key to sustainable agricultural innovation, says Yafai

Partnerships and investment key to sustainable agricultural innovation, says Yafai

Japan and US agree on $21bn semiconductor project in New York

Japan and US agree on $21bn semiconductor project in New York

Gold prices climb over 1% after recent declines

Gold prices climb over 1% after recent declines

Dollar retreats from 18-month high despite strong US inflation data

Dollar retreats from 18-month high despite strong US inflation data

Saudi inflation rises 1.9% in September 2026

Saudi inflation rises 1.9% in September 2026

Oil prices drop as Brent crude falls to $104 per barrel

Oil prices drop as Brent crude falls to $104 per barrel

IEA warns diesel shortages to impact global economy through 2027

IEA warns diesel shortages to impact global economy through 2027

US crude and distillate stocks fall, gasoline inventories rise

US crude and distillate stocks fall, gasoline inventories rise

Saudi tax committees begin accepting VAT refund claims on real estate by individuals

Saudi tax committees begin accepting VAT refund claims on real estate by individuals

Gold prices drop over 1% in spot trading on US inflation data

Gold prices drop over 1% in spot trading on US inflation data

Dollar rises after US inflation data for September

Dollar rises after US inflation data for September

Saudi Ministry of Industry issues 438 new licenses, 189 factories begin production in July 2026

Saudi Ministry of Industry issues 438 new licenses, 189 factories begin production in July 2026

Saudi stock market index closes lower at 10,138 points on SAR 3.9bn turnover

Saudi stock market index closes lower at 10,138 points on SAR 3.9bn turnover

Zood Real Estate launches Élevée, an integrated eight-tower community in Riyadh's Al-Nakheel district

Zood Real Estate launches Élevée, an integrated eight-tower community in Riyadh's Al-Nakheel district

GCC economies resilient, expanding global partnerships a priority: Budeiwi

GCC economies resilient, expanding global partnerships a priority: Budeiwi

GCC chief highlights deepening economic partnership with China

GCC chief highlights deepening economic partnership with China

IMF chief: Saudi reforms have built buffers against war fallout

IMF chief: Saudi reforms have built buffers against war fallout

E-commerce business registrations in Saudi Arabia surge 25% by Q3 2026

E-commerce business registrations in Saudi Arabia surge 25% by Q3 2026

GCC-Asia economic partnership key to investment and infrastructure, says GCC chief

GCC-Asia economic partnership key to investment and infrastructure, says GCC chief

Oil prices rise as Brent crude hits $106.58 per barrel

Oil prices rise as Brent crude hits $106.58 per barrel

Gold prices edge lower in US trading after recent gains

Gold prices edge lower in US trading after recent gains

Aramco office building in Dhahran targeted, no injuries reported

Aramco office building in Dhahran targeted, no injuries reported

US stocks close lower as chipmaker shares extend losses

US stocks close lower as chipmaker shares extend losses

European gas prices hit highest level since 2022 amid winter supply fears

European gas prices hit highest level since 2022 amid winter supply fears

Saudi Arabia imposes anti-dumping duties up to 38.7% on Chinese aluminum can lids

Saudi Arabia imposes anti-dumping duties up to 38.7% on Chinese aluminum can lids

Islamic Development Bank and Nigeria strengthen partnership for 2026-2028 priorities

Islamic Development Bank and Nigeria strengthen partnership for 2026-2028 priorities

Saudi Steel Pipe Company wins SAR 177 million Aramco contract

Saudi Steel Pipe Company wins SAR 177 million Aramco contract

Oil prices fall 1% as traders eye potential rise in Russian diesel supply

Oil prices fall 1% as traders eye potential rise in Russian diesel supply

Gold slips as dollar strengthens, ounce priced at $4,164.45

Gold slips as dollar strengthens, ounce priced at $4,164.45

ZATCA conducts over 59,000 inspections in Q3 2026

ZATCA conducts over 59,000 inspections in Q3 2026

Eastern Province signs over 100 foreign investment contracts

Eastern Province signs over 100 foreign investment contracts

Finance minister to lead Saudi delegation at 2026 World Bank and IMF annual meetings in Bangkok

Finance minister to lead Saudi delegation at 2026 World Bank and IMF annual meetings in Bangkok

Saudi Arabia signs four energy cooperation MoUs with Mongolia, Tanzania, Cyprus and Mauritius

Saudi Arabia signs four energy cooperation MoUs with Mongolia, Tanzania, Cyprus and Mauritius

Saudi Arabia shifts from major supplier to key energy partner, expert says

Saudi Arabia shifts from major supplier to key energy partner, expert says

Saudi stock market index closes lower at 10,283 points

Saudi stock market index closes lower at 10,283 points

Saudi Arabia unveils new energy crisis response plans

Saudi Arabia unveils new energy crisis response plans

Commerce Ministry highlights AI’s role in business sector growth in Q3 report

Commerce Ministry highlights AI’s role in business sector growth in Q3 report

Saudi GDP nearly doubles over past decade, says investment minister

Saudi GDP nearly doubles over past decade, says investment minister

Saudi non-oil revenues reach $133.3 billion, deputy finance minister says

Saudi non-oil revenues reach $133.3 billion, deputy finance minister says

OPEC lowers 2024 oil demand growth forecast, sees 32% energy rise by 2030

OPEC lowers 2024 oil demand growth forecast, sees 32% energy rise by 2030

SALIC transfers ownership of National Grains Company to SABL to boost food security

SALIC transfers ownership of National Grains Company to SABL to boost food security

Saudi energy minister opens 25th World Petroleum Congress in Riyadh

Saudi energy minister opens 25th World Petroleum Congress in Riyadh

East-West Pipeline holds long-term strategic value, says energy minister

East-West Pipeline holds long-term strategic value, says energy minister

Oil prices fall after Russia-Ukraine energy facility attack truce

Oil prices fall after Russia-Ukraine energy facility attack truce

Saudi energy minister reaffirms commitment to renewable energy expansion

Saudi energy minister reaffirms commitment to renewable energy expansion

Saudi energy minister: 'Fear' not in Saudi vocabulary, Vision 2030 to continue under all circumstances

Saudi energy minister: 'Fear' not in Saudi vocabulary, Vision 2030 to continue under all circumstances

Gold prices rise as dollar and oil fall ahead of US inflation data

Gold prices rise as dollar and oil fall ahead of US inflation data

IMF chief warns AI could impact 40% of global jobs

IMF chief warns AI could impact 40% of global jobs

Riyadh Economic Forum opens today under king’s patronage

Riyadh Economic Forum opens today under king’s patronage

Saudi energy minister signs MoUs with counterparts in Kuwait, Qatar and Egypt

Saudi energy minister signs MoUs with counterparts in Kuwait, Qatar and Egypt

Saudi Arabia hosts 17th International Energy Forum ministerial meeting in Riyadh

Saudi Arabia hosts 17th International Energy Forum ministerial meeting in Riyadh

Saudi energy minister: Alternative pipelines cost far less than their absence

Saudi energy minister: Alternative pipelines cost far less than their absence

Tazweed to participate in 25th World Petroleum Congress in Riyadh

Saudi stock market index closes lower at 10,360 points

Saudi stock market index closes lower at 10,360 points

Saudi economic resilience and East-West pipeline expansion boost investor confidence

Saudi economic resilience and East-West pipeline expansion boost investor confidence

Energy sector faces exceptional challenges amid Hormuz Strait disruptions

Energy sector faces exceptional challenges amid Hormuz Strait disruptions

Oil prices climb as Hurricane Isaias halts Gulf of Mexico output

Oil prices climb as Hurricane Isaias halts Gulf of Mexico output

SDAIA boosts national talent in quantum computing with specialized programs

SDAIA boosts national talent in quantum computing with specialized programs

Ministry of Energy records 723 violations in 14,335 inspections in September 2026

Ministry of Energy records 723 violations in 14,335 inspections in September 2026

Gold hits one-week high as inflation fears ease, ounce at 4186.04 dollars

Gold hits one-week high as inflation fears ease, ounce at 4186.04 dollars

Ministry of Energy records 723 violations in September 2026 inspections

Ministry of Energy records 723 violations in September 2026 inspections

Gold prices rise in Saudi Arabia as 21-karat hits 442 riyals

Gold prices rise in Saudi Arabia as 21-karat hits 442 riyals

World Bank hails Saudi Arabia as global model for AI governance

World Bank hails Saudi Arabia as global model for AI governance

Oil prices fall after Trump comments on Iran

Oil prices fall after Trump comments on Iran

East-West pipeline prevented oil prices from exceeding $200, expert says

East-West pipeline prevented oil prices from exceeding $200, expert says