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stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Toyota makes US battery push

Toyota will pour $13.1 billion into the development and supply of batteries for electric vehicles. AFP
  • Toyota has unveiled plans to invest $3.4 billion into automotive batteries in the United States
  • As part of the plan, it will build a factory in the country for production of such batteries

The world’s biggest carmaker Toyota unveiled plans on Monday to invest $3.4 billion into automotive batteries in the United States and build a factory in the country for their production.

The 10-year investment is part of a project announced last month by the Japanese firm to pour 1.5 trillion yen ($13.1 billion) into the development and supply of batteries for electric vehicles as it pushes to make its production carbon-neutral.

“Toyota’s commitment to electrification is about achieving long-term sustainability for the environment, American jobs and consumers,” said Ted Ogawa, chief executive officer at Toyota Motor North America.

The company did not specify further details such as a site and production capacity but said it would establish a new company for the US project.

In June, Toyota said it aimed to make its production carbon-neutral by 2035, replacing the previous target date of 2050.

Toyota is a pioneer of hybrid vehicles and autos using hydrogen fuel and is also stepping up its development of battery-powered electric cars.

Last year, Japan’s former prime minister Yoshihide Suga set a 2050 deadline for the world’s third-largest economy to become carbon neutral, significantly firming up the country’s climate-change commitments.

The nation has struggled to cut carbon emissions after shutting down reactors following the 2011 meltdown at the Fukushima nuclear power plant.