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 Egypt to Host Huawei's First MENA Cloud Platform

Egypt to Host Huawei's First MENA Cloud Platform

Egypt will host Chinese telecom company Huawei's first cloud data platform in the Middle East and North Africa, Egypt's telecom ministry said in a statement. …

Asharq Al Awsat
Business Saudi Arabia Raises Exports by 12.5% in December 2018

Saudi Arabia said its total merchandise exports increased by 12.5 percent in December 2018 year-on-year to reach $10 billion (SR86 million) while non-oil…

Asharq Al Awsat (Riyadh)
Business Bahrain Launches National Plan to End Unemployment

Bahrain Launches National Plan to End Unemployment

Bahrain launched Monday a program to recruit young Bahrainis, increase their opportunities in quality jobs through training and rehabilitation, and support…

Obeid Al-Suhaimi (Manama)
Business ACWA Power Signs MoUs with Silk Road Fund, Huawei

ACWA Power Signs MoUs with Silk Road Fund, Huawei

ACWA Power signed Memorandums of Understanding (MoU) with China’s Silk Road Fund and Huawei, laying the ground for collaboration in further investments,…

Asharq Al Awsat (Riyadh)
Business Iraqi Oil Minister Says to Hold Talks with Kurdistan Region on Oil Exporting

Iraqi Oil Minister Says to Hold Talks with Kurdistan Region on Oil Exporting

Iraq’s Minister of Oil Thamer al-Ghadhban revealed Monday his Ministry’s intention to engage in a dialogue to resolve the issue of exporting 250,000 barrels of…

Asharq Al Awsat (Baghdad)
Business Tunisian Central Bank Says 'Dinar Hard to Defend'

Tunisian Central Bank Says 'Dinar Hard to Defend'

Tunisia’s central bank governor said on Monday that its dinar currency could not be easily supported as the country’s foreign currency reserves fall below…

Asharq Al Awsat (Tunis)
Business UAE Allocates $8.7 Billion to Build 34,000 Housing Units in Six Years

UAE Allocates $8.7 Billion to Build 34,000 Housing Units in Six Years

The United Arab Emirates announced its plan to build tens of thousands of housing units for its local population for which the government has allocated 32…

Asharq Al Awsat (Dubai)
Business ADNOC Signs $3.8 Bn Deal with KKR, BlackRock

ADNOC Signs $3.8 Bn Deal with KKR, BlackRock

Abu Dhabi National Oil Company (ADNOC) announced that it has entered into a landmark midstream pipeline infrastructure partnership with KKR and BlackRock, two…

Asharq Al Awsat (Abu Dhabi)
Business Saudi Arabia: Public, Private Investment Funds Increased 15% in 2018

Saudi Arabia: Public, Private Investment Funds Increased 15% in 2018

The value of public and private investment funds in Saudi Arabia increased 15 percent during the past yearو compared to 2017, with a total asset value of $77.3…

Asharq Al Awsat (Riyadh)
Business SAMA Rules Out Shrinking Economy

SAMA Rules Out Shrinking Economy

The Governor of the Saudi Arabian Monetary Authority (SAMA), Dr. Ahmed al-Khulaifi, said a shrinkage in the economy was unlikely, highlighting optimism in…

Abdulhadi Habtor (Riyadh)
Business Saudi-Egyptian Business Council Encourages Further Cooperation

Saudi-Egyptian Business Council Encourages Further Cooperation

Egypt hosted on Sunday the Saudi-Egyptian Business Council Forum as Saudi King Salman bin Abdulaziz visited the country to attend the first Arab-EU summit held…

Asharq Al Awsat (Cairo)
Business KSA Vision 2030 Intersects With China’s ‘Belt and Road’ Initiative

KSA Vision 2030 Intersects With China’s ‘Belt and Road’ Initiative

Saudi Arabia signed a number of agreements and memorandums of understanding with China on Friday in the oil, petrochemical, mining, electricity, ceramic, port…

Asharq Al Awsat (Riyadh)
Business Iraq to Sell Jordan 10,000 Oil Barrels Per Day

Iraq to Sell Jordan 10,000 Oil Barrels Per Day

Jordan and Iraq have agreed on a number of mechanisms to boost bilateral economic cooperation, stimulate the private sector to implement investment projects,…

Asharq Al Awsat (Amman)
Business Oil Hits Highest 2019 Level

Oil Hits Highest 2019 Level

Oil prices rose on Friday boosted by hopes that US-China trade talks would soon produce a deal and the reduction of supplies from OPEC. Brent crude futures…

Asharq Al Awsat (London)
Business Morocco’s CPI Sees Record Drops in January

Morocco’s CPI Sees Record Drops in January

Morocco’s annual consumer price inflation dropped to 0.5 percent in January from 1.9 percent in December, the high commission for planning said on Friday. …

Asharq Al Awsat (Rabat)
Business France Dispatches Envoy to Beirut to Implement CEDRE Pledges

France Dispatches Envoy to Beirut to Implement CEDRE Pledges

French presidential envoy Pierre Dukan is scheduled to arrive in Beirut on Wednesday to devise the practical measures for the implementation of the CEDRE…

Khalil Fleihan (Beirut)
Business Saudi-Chinese Investment Forum Signs 35 Deals During Crown Prince’s Beijing Visit

Saudi-Chinese Investment Forum Signs 35 Deals During Crown Prince’s Beijing Visit

The Saudi-Chinese Investment Forum concluded its proceedings on Friday by signing 35 joint bilateral economic cooperation agreements worth more than $28…

Asharq Al Awsat
Business 3.73 Mn Benefit from Saudi Citizen Account Program in February

3.73 Mn Benefit from Saudi Citizen Account Program in February

The total number of beneficiaries at the Citizen Account Program reached 3.73 million in its 15th installment, up from 3.70 million. The total amount paid…

Asharq Al Awsat (Riyadh)
Business Saudi Public Investment Fund Signs MoU with China’s National Energy Administration

Saudi Public Investment Fund Signs MoU with China’s National Energy Administration

Saudi Arabia’s Public Investment Fund (PIF) announced Friday the signing of a Memorandum of Understanding (MoU) on renewable energy with China’s National…

Asharq Al Awsat
Business Deals Worth $5.4 Billion at IDEX, NAVDEX  in 1 Week

Deals Worth $5.4 Billion at IDEX, NAVDEX in 1 Week

The International Defense Exhibition (IDEX) and the naval defense and maritime security exhibition (NAVDEX) have concluded in Abu Dhabi with deals worth AED20…

Mosaed al-Zayani (Abu Dhabi)
Business Morocco Achieves 83% of its Sea Fishing Development Plan

Morocco Achieves 83% of its Sea Fishing Development Plan

Sea fishing production in Morocco rose 2.3 percent annually in recent years in terms of quantity and 7.2 percent in terms of value. Minister of Agriculture…

Lahcen Mokena (Agadir)
Business Saudi Aramco Signs Agreement to Form Largest Sino-Foreign JV

Saudi Aramco Signs Agreement to Form Largest Sino-Foreign JV

Saudi Aramco has signed an agreement to form a joint venture with Chinese conglomerate Norinco to develop a refining and petrochemical complex in Panjin city…

Asharq Al Awsat
Business Falih

Falih: Saudi-Kuwaiti Deal on Resuming Oil Output from Neutral Zone is Near

Saudi Arabia’s Energy Minister Khalid al-Falih said on Wednesday the Kingdom is expected to reach an agreement this year to resume oil output from the Neutral…

Asharq Al Awsat (London)
Business Kuwait

Kuwait Inaugurates Renewable Energy Project with 70 MW Production Capacity

The first phase of the Shagaya Renewable Energy Park in Kuwait’s northwestern governorate of Jahra was on Wednesday inaugurated with 70 MW production capacity…

Asharq Al Awsat (Kuwait)