Tuesday, November 10, 2026Jumada I 30, 1448 AH

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Business

Lucid Gets Crucial $1.75 Billion Liquidity Boost From PIF

Asharq Al-Awsat EnglishBy Asharq Al Awsat

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 Fund (PIF), its largest investor, would help fund the electric-vehicle maker into the fourth quarter of 2027, according to Reuters. The larger delayed-draw term loan lifts the company’s pro forma liquidity to $3.75 billion, strengthening new CEO Silvio Napoli's hand as he seeks to turn around the company facing an industry-wide demand weakness following the expiry of a federal ⁠tax credit last year.

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Hormuz LNG Traffic Hits Highest in October since Iran War Began

The monthly tally of laden liquefied natural gas (LNG) tankers exiting the Strait of Hormuz reached its highest in October since the US-Iran conflict disrupted shipping this year, vessel tracking data showed. -Last month, 31 LNG tankers went through the key waterway, according to data from S&P Global Energy, of which 23 were loaded at Ras Laffan in Qatar and eight at Das Island in the United Arab Emirates.

Asharq Al-Awsat English

Business

Gold Prices Ease as Focus Shifts to US Inflation Data

Gold prices eased on Tuesday as investors locked in profits after bullion's more than 1% rally in the previous session and awaited US inflation data for clues on the Federal Reserve's policy path. Spot gold was down 0.4% at $4,124.42 per ounce, as of 0618 GMT. US gold futures for December delivery rose 0.5% to $4,133.00. "It's just a bit of churn in the market. Prices are easing back ⁠from the highs ⁠reached during the US session, which could be attributed to profit-taking," said Kyle Rodda, senior financial market analyst at Capital.com.

Asharq Al-Awsat English