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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.

Human Rights Monitor submits documents on Gaza executions to UN

GENEVA, SWITZERLAND - The Euro-Mediterranean Human Rights Monitor documented, in a preliminary file submitted to UN special rapporteurs and the...
  • The monitor called for immediate investigation to hold the perpetrators accountable and provide justice to the victims.
  • It demanded the announcement of the formation of an international legal team to reach Gaza and investigate the incidents.

Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact

MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...
  • Beni Mellal Chamber of Commerce, Industry and Services delegation head said that Saudi Arabia is Morocco's largest trading partner.
  • In 2022, the volume of Saudi Arabian exports reached US$4.6 billion, while the value of imports was US$87 million.

UN General Assembly approves US$3.59bn budget for 2024

NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
  • The UNGA approved around US$50 million as an additional funding for UN Human Rights Council.
  • UNGA revealed that it established a multiannual private account for peacemaking and it is used for funding UNPBF.

ADDED, Siemens Energy to support sustainable industrial development in Emirate

ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
  • The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
  • Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.

FTA issues guide to determine natural persons subject to corporate tax

ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
  • The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
  • The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.

136 UN employees killed in Gaza War, says UN chief   

NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
  • The UN chief said that the Israeli military offensive was creating 'massive obstacles' to the distribution of humanitarian aid inside Gaza.
  • The United Nations Security Council had adopted a resolution calling for boosting humanitarian assistance for Gaza Strip.

Oman to expand production of green hydrogen to boost non-oil economy

Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
  • The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
  • Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.

UAE best performing economy in Arab region, says Arab Monetary Fund

Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
  • The report noted the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index
  • The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the percentage of the population with access to electricity

TAQA, GS Inima and EWEC seal deal

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
  • The S4 RO project is primarily funded 71 percent through debt financing from both local and international banks.
  • The financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Latest News

New shipping service in Saudi Arabia launched

RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...

Dubai partners with 9 developers to bolster Real Estate Program

Dubai, UAE -- The Dubai Land Department (DLD) has embarked on the first phase of a series of strategic partnerships...

GASTAT issues FDI statistics of Saudi Arabia for Q4 2023

RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...

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flydubai adds two Saudi destinations

Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
  • flydubai has built a network of 129 destinations across 58 countries and is served by a fleet of 86 Boeing 737 aircraft.
  • Since the start of 2024, flydubai has inaugurated operations to Langkawi, Mombasa and Penang and has announced the start of flights to Basel, Riga.

SeaWorld Yas Island, Abu Dhabi wins Guinness World Records

ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
  • SeaWorld Yas Island has won the Guinness World Records for being the “Largest Indoor Marine-Life Theme Park” in the world.
  • The certificate was presented to Mohamed Abdalla Al Zaabi, Group CEO of Miral, and the SeaWorld Abu Dhabi leadership.

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution
  • ESA will benefit from a streamlined and integrated system, improving visibility and control over all of its operations.
  • ESA will be using an integrated supply chain model that eliminates process silos, predicts disruptions.