العربية
Business

China’s October Crude Oil Imports Rise to Highest Level Since March Amid Middle East War

China's October oil imports fell 13.3% from a year earlier but reached the highest level since March this year after the US-Israeli war on Iran disrupted supplies from the Middle East, official data showed on Tuesday. China, the world's biggest oil buyer, imported 41.94 million metric tons of crude oil in October, or 9.88 million barrels per day, ⁠with the daily ⁠import rate up 9.4% from September, according to data from the General Administration of Customs.

Read the full article at Asharq Al-Awsat English

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Business

Lucid secures access to additional $1.75bn in PIF financing

Lucid Group has obtained $1.75 billion in additional financing from Saudi Arabia’s Public Investment Fund, increasing its total liquidity to $3.75 billion. This financial boost aims to support the company's transformation plan as it prepares to launch a new midsize vehicle lineup and continues its cash flow improvement strategy, while also progressing on a new manufacturing facility in Saudi Arabia.

Arab News