Business

Lucid Gets Crucial $1.75 Billion Liquidity Boost From PIF

Business A Lucid Air Grand Touring electric car is displayed during the New York International Auto Show in New York City, US, April 1, 2026. REUTERS/Jeenah Moon/File Photo 

Lucid Gets Crucial $1.75 Billion Liquidity Boost From PIF

Lucid Group, an American electric vehicle (EV) manufacturer, said on Monday a $1.75 billion increase in a loan facility from Saudi Arabia's Public Investment…

Asharq Al Awsat (New York)
Business Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)

Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Saudi Arabia's real estate market continues to attract investment despite geopolitical challenges weighing on economic activity worldwide, supported by new…

Bandar al-Mosalam (Riyadh)
Business An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)

Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

Saudi stocks closed higher on Monday, recovering some of the losses sustained in the previous session as heavyweight shares strengthened and the banking sector…

Asharq Al Awsat (Riyadh)
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 Khalid al-Falih

Saudi-Russian Scenario to Extend OPEC Agreement till End of 2018

Russia and Saudi Arabia’s remarks Thursday have revived oil markets and hopes of another year of trying to rebalance the oil market after the Kingdom showed…

Wael Mahdi (Kuwait)
Business IMF Commends Saudi Reforms within Vision 2030

IMF Commends Saudi Reforms within Vision 2030

Timothy Callen, IMF Mission Chief for Saudi Arabia, lauded the reforms implemented by Saudi authorities within Saudi Vision 2030 from “adjusting fiscal policy…

Business Forum

Riyadh, Moscow Sign MoUs in Nuclear Energy, Other Fields

Saudi Energy Minister Khalid al-Falih said on Thursday that King Salman’s historic visit to Russia will witness the signing of memoranda of understanding in…

Asharq Al Awsat
Business National Investment Fund of $92 Billion to Invigorate Saudi Economy

National Investment Fund of $92 Billion to Invigorate Saudi Economy

The establishment of the National Development Fund (NFD) was meant to ensure new incentives for the Saudi economy with a capital of SAR 345 billion ($ 92…

Asma al Ghabri (Jeddah)
Business Saudi Arabia Studies Issuing Three Banking Licenses, Establishing a Digital Currency

Saudi Arabia Studies Issuing Three Banking Licenses, Establishing a Digital Currency

The Saudi Arabian Monetary Agency (SAMA) expected positive growth rates for the Saudi economy over the upcoming period, confirming that the national economy…

Nayef Al-Rasheed (Riyadh)
Business bank

Egyptian Discussions with AfDB on Last Tranche of Loan

Egyptian officials have discussed with a delegation from the African Development Bank the signing of the third and last $500 million tranche of a $1.5 billion…

Asharq Al Awsat (Cairo)
Business AFC

French Development Agency's Commitments to Tunisia to Reach 1.2 Billion Euros

The French Development Agency (AFD) has renewed its EUR 1.2 billion commitment to finance projects over the next five years. In a statement to TAP on the…

Al Mongi Al Saidani (Tunis)
Business Jordan

Strong Demand by Investors for Jordan’s ‘Eurobonds’

Jordan has successfully issued $1 billion worth of Eurobonds on international markets at an interest rate of 7.375 percent and under a maturity period of 30…

Mohamed Al-Daameh (Amman)
Business Corsica

Sluggish Housing Market Draws Buyers to Corsica

Corsica- This two-story stone villa with a roof terrace sits in the rocky hills of northern Corsica, a French island. The 2,152-square-foot home was…

Alison Gregor (Corsica)
Business Nissan

Japan Inspects 2 Nissan Plants Days after Recalling over 1 Million Cars

The Japanese Transport Ministry carried out on Wednesday spot inspections at two Nissan Motor Co. plants, a week after it had inspected four factories as part…

Asharq Al Awsat
Business Novak

Saudi Arabia, Russia to Set Up $1 Billion Energy Fund- Novak

Russian Energy Minister Alexander Novak said that Saudi Arabia and Russia will establish a new energy investment fund worth USD1 billion, noting that final…

Asharq Al Awsat (London)
Business Strategic Partnership Between Aramco, Malaysia's Petronas Chemicals

Strategic Partnership Between Aramco, Malaysia's Petronas Chemicals

Saudi Aramco has entered into a strategic partnership with Petronas Chemicals Group Berhad (PCG) to enhance the value and competitive positioning of its…

Asharq Al Awsat (Dammam)
Business Monarch Airlines Goes Bankrupt

Monarch Airlines Goes Bankrupt

Britain’s Monarch Airlines collapsed on Monday, causing the cancellation of all its activities and around 300,000 flights. It marooned more than 100,000…

Asharq Al Awsat (London)
Business Jordan

Gulf-Jordanian Economic Communication Forum Launches 120 Investment Opportunities

The Gulf-Jordanian Economic Communication forum concluded its activities on Saturday in Amman, Jordan with the launch of 120 investment opportunities. …

Business UAE

Selective Tax Applied on Over 1,600 Items in UAE

The number of commodities covered by the UAE's selective taxation has been announced as 1,610 items, 60 percent of which are classified as soft drink products,…

Asharq Al Awsat (Dubai)
Business 53,000 Square Meters of Land in Makkah to Be Sold at Auction

53,000 Square Meters of Land in Makkah to Be Sold at Auction

Makkah would witness next Thursday a real-estate auction on three lands of a total space of around 50,000 square meters and worth more than one billion riyals …

Asharq Al Awsat (Makkah)
Business OPEC Oil Output Edges Higher in September

OPEC Oil Output Edges Higher in September

OPEC oil output has risen this month by 50,000 barrels per day (bpd), a Reuters survey found, as Iraqi exports increased and production edged higher in Libya,…

Asharq Al Awsat (London)
Business ‘False Peace’ for Markets? A Trader Is Betting Millions on It

‘False Peace’ for Markets? A Trader Is Betting Millions on It

Last Wednesday was another good day to make money on Wall Street: Stocks pushed up, interest rates were at rock bottom and the VIX gauge of investor unease…

Business Algerian

Algeria Mulling Wealth Tax to Cope with Financial Pressure

Algerian Prime Minister Ahmed Ouyahia has told the parliament that the draft state budget for 2018 would include for the first time a wealth tax as part of…

Asharq Al Awsat (London)
Business Cargo

Turkey Seeks to Increase Trade Volume with EU

Turkey’s Economy Minister Nihat Zeybekci expected an update of the customs union agreement with the European Union to increase trade between the two sides to…

Saeed Abdulrazek (Ankara)
Business forum

Saudi Ministry of Energy: Localization of Products Reached 60%

Localization of products associated with the industry of electricity reached 60 per cent and prices of domestic energy are very close to current global levels,…

Nayef al-Rashid (Riyadh)
Business UAE

UAE: $250 Million Fund to Invest in Emerging Tech

Emirati businessman Mohammad Alabbar urged Arab investors to invest in what he called “e-economy” in the Arab region due to its low percentage in the GDP…

Mosaed al-Zayani (Dubai)
Business King Salman Receives Positive Annual Report from SAMA

King Salman Receives Positive Annual Report from SAMA

Custodian of the Two Holy Mosques King Salman received on Tuesday the 53rd annual report of the Saudi Arabian Monetary Authority (SAMA), which reviews the…

Asharq Al Awsat (Jeddah)
Business solar

SAGIA in Discussions with Local Companies on Renewable Energy Projects Implementation

The Saudi Arabian General Investment Authority (SAGIA) plans to hold discussions with local companies that are capable of implementing renewable energy…

Mosaed al-Zayani (Riyadh)