Business

Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Business Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)

Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week's…

Business A mining machine is seen at the Bayan Obo mine containing rare earth minerals, in Inner Mongolia, China July 16, 2011. (Reuters)

China Extends Suspension of New Rare Earth Controls Until January

China on Monday announced a two-month extension of export-control waivers due to expire this month, preserving part of a wide-ranging deal struck after a…

Business United Nations Climate Change Executive Secretary Simon Stiell. (UN)

UN to Asharq Al-Awsat ahead of COP31: Climate Change and Energy Security Are Two Integrated Paths

On the eve of the opening of the 31st United Nations Climate Change Conference (COP31) on Monday in the Turkish city of Antalya, attention is focused on the…

Abeer Hommadi (Riyadh)
Business The People's Bank of China's gold holdings increased by 830,000 ounces in October (Reuters)

Gold Rises over 1% as Softer Oil Prices Ease Inflation Worries

Gold rose more than 1% on Monday as softer oil prices eased inflation concerns, while investors awaited key US inflation data and fresh signals from the…

Asharq Al Awsat
Business Members of the GCC Transport and Communications Ministers Committee pose for an official photo in Manama (GCC). 

Gulf Railway Enters Implementation Phase, Targets 2030 Completion

Gulf Cooperation Council (GCC) countries signed an agreement in Manama on Sunday to advance a 2,117-kilometer railway linking all six member states by 2030, as…

Mirza al-Khuweildi (Manama)

Business Saudi Arabia: Market Value Jumps to $576 Bn

Saudi Arabia: Market Value Jumps to $576 Bn

Saudi stock market index continued its positive gains for the seventh week in a row recording its best weekly closing price in almost four years, meanwhile,…

Shujaa al-Baqmi (Riyadh)
Business Libya: Hike in Food Prices Makes it Worse for Tripoli

Libya: Hike in Food Prices Makes it Worse for Tripoli

Prices of goods and products hiked over the past few months in Libya, creating a crisis as Ramadan month approaches, while the Government of National Accord …

Jamal Jawhar (Cairo)
Business GCC Committee Discusses Financial, Economic Cooperation

GCC Committee Discusses Financial, Economic Cooperation

The Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee held Friday its 109th session in Muscat, Oman, where means to promote joint…

Asharq Al Awsat (Muscat)
Business Finance Ministry Announces 30 Years Sukuk Issuance for First Time in Saudi History

Finance Ministry Announces 30 Years Sukuk Issuance for First Time in Saudi History

The debt management office at the Saudi Ministry of Finance has announced a Sukuk issuance in the domestic market with a 30 year maturity. It said it has…

Asharq Al Awsat (Riyadh)
Business Saudi Aramco Exploring Joint Ventures in Gas

Saudi Aramco Exploring Joint Ventures in Gas

Saudi Aramco’s chief executive said on Thursday the company was in discussions with many partners around the world regarding potential joint ventures in gas,…

Asharq Al Awsat
Business Saudi Energy Minister: China Has Not yet Asked for More Crude Oil

Saudi Energy Minister: China Has Not yet Asked for More Crude Oil

Saudi Energy Minister Khalid al-Falih said Thursday that China has “not yet” asked for more crude oil after the US decided to end sanction waivers on Iranian…

Asharq Al Awsat
Business Saudi Energy Ministers Heads Kingdom’s Delegation at 2nd Belt and Road Forum

Saudi Energy Ministers Heads Kingdom’s Delegation at 2nd Belt and Road Forum

Minister of Energy, Industry and Mineral Resources Khalid al-Falih headed the Kingdom of Saudi Arabia's delegation to the 2nd Belt and Road Forum for…

Asharq Al Awsat
Business CMA, Tadawul, Debt Management Office Reveal Enhancements to Sukuk, Bonds Market

CMA, Tadawul, Debt Management Office Reveal Enhancements to Sukuk, Bonds Market

The Capital Market Authority (CMA), the Saudi Stock Exchange (Tadawul) and the Debt Management Office (DMO) have unveiled a number of enhancements to the fees…

Asharq Al Awsat
Business SAMA Governor: Cybersecurity Greatest Challenge to Future Banking Sector

SAMA Governor: Cybersecurity Greatest Challenge to Future Banking Sector

Despite activated firewalls and state-of-the-art digital security programs, financial officials and experts have placed cyber-attacks at the top of the list…

Asharq Al Awsat (Riyadh)
Business Egypt's Economy Seen Growing 5.5 Percent in Year to End of June

Egypt's Economy Seen Growing 5.5 Percent in Year to End of June

Egypt's economy is expected to grow 5.5 percent in the fiscal year that ends in June, according to economists polled by Reuters, a forecast slightly higher…

Asharq Al Awsat
Business Finance Minister: Saudi Arabia Achieves Budget Surplus of 27.8 Bln Riyals

Finance Minister: Saudi Arabia Achieves Budget Surplus of 27.8 Bln Riyals

Saudi Minister of Finance Mohammed Al-Jadaan announced on Wednesday that the Kingdom achieved a surplus of 27.8 billion riyals, the first surplus recorded in…

Asharq Al Awsat
Business Saudi General Investment Authority Launches Venture Capital Platform

Saudi General Investment Authority Launches Venture Capital Platform

The Saudi Arabian General Investment Authority (SAGIA) launched on Wednesday VENTURE by Invest Saudi, a new initiative aimed at attracting global venture…

Asharq Al Awsat
Business Tunisia Now Member of Asian Infrastructure Investment Bank

Tunisia Now Member of Asian Infrastructure Investment Bank

Tunisia has officially joined the Asian Infrastructure Investment Bank (AIIB), affirmed the country minister of Development, Investment, and International…

Mongi Saidani (Tunis)
Business Saudi Arabia: Agreement to Enhance Digital Link between Government, Banks

Saudi Arabia: Agreement to Enhance Digital Link between Government, Banks

Governor of the Saudi Arabian Monetary Authority (SAMA) Ahmad al-Kholifey and Saudi Minister of Justice Waleed al-Samani signed Tuesday the digital link…

Asharq Al Awsat (Riyadh)
Business CBJ Raises Interest to Protect National Economy

CBJ Raises Interest to Protect National Economy

The Central Bank of Jordan (CBJ) adjusted the interest rate as needed to protect the national economy from the challenges resulting from unstable regional…

Asharq Al Awsat (Amman)
Business New Saudi Initiative to Boost Industry, Export

New Saudi Initiative to Boost Industry, Export

The Industrial Valley at King Abdullah Economic City (KAEC) in Saudi Arabia has launched an initiative to accelerate the implementation of construction…

Asma al Ghabri (Jeddah)
Business Moroccan Airports Receive 5.6m Passengers in Q1 2019

Moroccan Airports Receive 5.6m Passengers in Q1 2019

The number of passengers traveling through Moroccan airports reached 5.6 million in the first quarter of 2019, up 9.66 percent year on year, compared to 5.1…

Lahcen Mokena (Casablanca)
Business Saudi Arabia Says to Ensure Adequate Oil Supply

Saudi Arabia Says to Ensure Adequate Oil Supply

Saudi Energy Minister Khalid a-Falih said on Monday that the Kingdom would coordinate with other oil producers to ensure an adequate crude supply and a…

Asharq Al Awsat
Business Business Council Calls for Setting up Sea Lane between Egypt,Tunisia

Business Council Calls for Setting up Sea Lane between Egypt,Tunisia

The Egyptian-Tunisian Business Council underlined the need to establish a sea lane to facilitate trade between the two countries as part of the council’s plan…

Asharq Al Awsat (Cairo)
Business Saudi Ports Achieve Remarkable Growth in Handling Operations During Q1 2019

Saudi Ports Achieve Remarkable Growth in Handling Operations During Q1 2019

Saudi Ports have registered a notable growth in handling operations during the first quarter of 2019. The total handled cargo amounted to 66,335,121 tons,…

Asharq Al Awsat
Business Tadawul Extends Closing Auction Session in 2nd Phase of FTSE Russell Inclusion

Tadawul Extends Closing Auction Session in 2nd Phase of FTSE Russell Inclusion

The Saudi Stock Exchange (Tadawul) on Sunday announced the extension of the closing auction session to 20 minutes instead of 10 minutes on 30 April only. …

Asharq Al Awsat (Riyadh)
Business Gulf Companies Record $69 Bn Profit in 2018- Report

Gulf Companies Record $69 Bn Profit in 2018- Report

The total profit of Gulf Cooperation Countries (GCC) listed companies rose 3.5 percent in fiscal year (FY) 2018 to reach $69 billion, compared to $66.3 billion…

Motleq Mounir (London)
Business Saudi Aramco Acquires Shell’s Share of Sasref Joint Venture

Saudi Aramco Acquires Shell’s Share of Sasref Joint Venture

Saudi Aramco announced on Sunday that it acquire Royal Dutch Shell’s 50 percent stake of the Sasref joint venture in Jubail Industrial City in Saudi Arabia,…

Asharq Al Awsat (Dammam)
Business Planning Strategic Projects Will Revitalize National Palestinian Economy

Planning Strategic Projects Will Revitalize National Palestinian Economy

Palestinian Authority (PA) Economy Minister Khaled Al-Assaily stressed the importance of outlining several strategic programs and projects to expand…

Asharq Al Awsat (AlKhalil )