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-Egyptian Digital Economy Forum Kicks off in Cairo

Saudi-Egyptian Digital Economy Forum Kicks off in Cairo

The Saudi-Egyptian Digital Economy Forum kicked off in Cairo on Monday, reported the Saudi Press Agency. Organized by the Ministry of Communications and…

Asharq Al Awsat
Business Saudi Energy Minister: Demand for Aramco Bond Issue Exceeds $30 Bln

Saudi Energy Minister: Demand for Aramco Bond Issue Exceeds $30 Bln

Saudi Aramco has received bids for more than three times the $10 billion it was expected to raise in a debut international bond issue, said Saudi Energy…

Asharq Al Awsat
Business Morocco Invests Over $13B in Energy Sector

Morocco Invests Over $13B in Energy Sector

Moroccan Minister for Energy, Mines and Sustainable Development Aziz Rabbah has announced that the amount of investments in the country has exceeded MAD130…

Lahcen Mokena (Marrakesh)
Business UAE: Dubai’s FDI Reaches $10.4 Bn in 2018

UAE: Dubai’s FDI Reaches $10.4 Bn in 2018

Crown Prince of Dubai and Chairman of Dubai Executive Council Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced that the latest results of foreign…

Asharq Al Awsat (Dubai)
Business World Economic Forum Seeks Ways to Harness Technology for Regional Development

World Economic Forum Seeks Ways to Harness Technology for Regional Development

Participants of the World Economic Forum for the Middle East and North Africa discussed ways of exploiting and harnessing the Fourth Industrial Revolution to…

Najlaa Habriri (Dead Sea)
Business Saudi Arabia, Egypt Discuss Oil, Gas Opportunities in Red Sea

Saudi Arabia, Egypt Discuss Oil, Gas Opportunities in Red Sea

Egypt's Minister of Petroleum and Mineral Resources Tariq el-Molla held discussion sessions with Saudi Minister of Energy, Industry and Mineral Resources on…

Asharq Al Awsat (Cairo)
Business Saudi Arabia Denies Reports on Selling Oil in Non-Dollar Currencies

Saudi Arabia Denies Reports on Selling Oil in Non-Dollar Currencies

The Saudi Minister of Energy, Industry and Mineral Resources denied on Monday reports that the Kingdom was threatening to sell its oil in currencies other than…

Asharq Al Awsat
Business Erdogan's Election Setback Dents Hopes for Big Reforms in Turkey

Erdogan's Election Setback Dents Hopes for Big Reforms in Turkey

President Recep Tayyip Erdogan’s losses in local elections have dented investors’ hopes that Turkey will adopt painful reforms they say are needed to stabilize…

Asharq Al Awsat
Business Saudi Labor Courts Held over 37,000 Hearings Since their October Launch

Saudi Labor Courts Held over 37,000 Hearings Since their October Launch

Labor courts across Saudi Arabia have held more than 37,000 hearings since their official launch in October, according to the ministry of justice. Labor…

Asharq Al Awsat
Business Yemen’s PM Urges ‘Fair Competition’ for Price Stability

Yemen’s PM Urges ‘Fair Competition’ for Price Stability

Yemeni Prime Minister Moin Abdul Malik stressed the need for everyone to work on finding viable solutions regarding the stability of the currency and economic…

Asharq Al Awsat (Aden)
Business Cargo Handled in Saudi Ports Exceeded 22 Million Tons in March

Cargo Handled in Saudi Ports Exceeded 22 Million Tons in March

Total tonnage cargo handled in Saudi ports during the month of March 2019 was over 22 million tons. The ports saw an increase of 2.78% compared to the…

Asharq Al Awsat
Business Egypt to Remove Subsidies on Most Energy Products by June

Egypt to Remove Subsidies on Most Energy Products by June

Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter, which was released by the IMF on…

Asharq Al Awsat (Cairo)
Business SAGIA Presents Investment Opportunities for Businessmen in London

SAGIA Presents Investment Opportunities for Businessmen in London

Saudi Arabian General Investment Authority (SAGIA) specialists held presentations in London on Friday about the Authority's activities and facilities and…

Asharq Al Awsat
Business Last Flight Leaves Ataturk as Istanbul Switches Airports

Last Flight Leaves Ataturk as Istanbul Switches Airports

The last commercial passenger flight took off from Istanbul’s Ataturk airport on Saturday and convoys of trucks ferried thousands of tons of equipment across…

Asharq Al Awsat
Business Saudi Arabia: Competition Law Aims to Combat Monopolistic Practices

Saudi Arabia: Competition Law Aims to Combat Monopolistic Practices

The regulations of the Saudi Competition Law have revealed that it aims to protect and promote fair competition and combat monopolistic practices that affect…

Asharq Al Awsat (Riyadh)
Business Boeing Cuts 737 Production Rate By 10 Planes per Month

Boeing Cuts 737 Production Rate By 10 Planes per Month

Boeing will cut production of its troubled 737 Max airliner this month, underscoring the growing financial risk it faces the longer that its best-selling plane…

Asharq Al Awsat (London)
Business Egypt Offers Euro-Denominated Bonds Worth $2.2 Bn

Egypt Offers Euro-Denominated Bonds Worth $2.2 Bn

Egypt said on Friday it would not return to the international debt market during the current financial year ending in June, after raising 2 billion euros ($2…

Asharq Al Awsat (Cairo)
Business Arab Solutions to International Challenges at WEF in Jordan

Arab Solutions to International Challenges at WEF in Jordan

The World Economic Forum on the Middle East and North Africa kicked off in the Dead Sea on Saturday, in the presence of more than 1,000 government, business,…

Najlaa Habriri (Dead Sea)
Business IsDB Signs 91 Financing Agreements with Member Countries in Marrakesh

IsDB Signs 91 Financing Agreements with Member Countries in Marrakesh

The Islamic Development Bank (IsDB) has announced that the approved funding by all branches exceeded USD21.72 billion in 2018. IsDB President Dr. Bandar…

Lahcen Mokena (Marrakech)
Business Georgian Official: Looking Forward to Strategic Partnerships with Saudi Arabia in Aviation, Energy

Georgian Official: Looking Forward to Strategic Partnerships with Saudi Arabia in Aviation, Energy

Georgia looks forward to launching strategic partnerships with Saudi Arabia in the fields of aviation, renewable energy, electricity, logistics, mining, food,…

Fatehelrahman Yousif (Riyadh)
Business Lebanon Announces New Blocks for Offshore Energy Work

Lebanon Announces New Blocks for Offshore Energy Work

Lebanon announced on Friday five offshore blocks to be included in its coming bidding round for energy exploration and production licenses, including four…

Asharq Al Awsat
Business Tunisia: Inflation Drops to 7.1 Percent in March

Tunisia: Inflation Drops to 7.1 Percent in March

Tunisia’s annual inflation dropped to 7.1 percent in March against 7.3 percent in February, the National Institute of Statistics (INS) announced on Thursday. …

Mongi Saidani (Tunis)
Business oil

Seoul Tests US Super Light Oil as Iran Waiver Uncertainty Grows

South Korea has begun testing super-light US oil sold by Anadarko Petroleum Corp as a substitute for Iranian crude while it awaits word from Washington on…

Asharq Al Awsat (London)
Business Saudi Arabia's SALIC Buys Australia's Baladjie Farmland

Saudi Arabia's SALIC Buys Australia's Baladjie Farmland

Saudi Agricultural and Livestock Investment Company (SALIC), an arm of Saudi Arabia's state-owned Public Investment Fund, said on Thursday that it had…

Asharq Al Awsat (Riyadh)