Chinese firms extend EV range with petrol generators
The generator, known as a range extender, is connected to the cars' batteries and feeds them only when needed. Since...Technology Business
Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airlineCompany News Business
Chinese firms extend EV range with petrol generators
The generator, known as a range extender, is connected to the cars' batteries and feeds them only when needed. Since...This technology grew faster in China last year than any other type of powertrain, the system that propels a vehicle forward.
More than one million EREVs were sold, representing a total market share of six percent, according to the McKinsey consultancy.
SAIB reports $139 million Q1 net profit
its assets increased by 20.08 percent to $43.65bn.The profit growth was driven by a 4.7% year-on-year (YoY) hike in the first-quarter net special commission income, mainly due to higher returns from financing and investment
Its clients' deposits were valued at SAR 101.66 billion, which is 14.96 percent higher than SAR 88.43 billion a year ago.
ATM 2025 to showcase 2,800 firms, 17 percent from Middle East
Dubai, UAE: The Arabian Travel Market, which will take place from Apr 28 to May 1 at the Dubai World...The event has achieved a near 12 percent year-on-year increase in exhibitor participation, making it the largest edition to date, now spanning 14 halls.
The 32nd edition of ATM will focus on the theme: “Global Travel: Developing Tomorrow’s Tourism Through Enhanced Connectivity”.
European carmakers on China charm offensive as sales droop
Shanghai, China -- Once blithely dominant in China, European automakers are now launching full-fledged charm offensives at consumers in the...At this week's Auto Shanghai, the largest global industry show of its kind, foreign firms pitched dozens of electric, high-tech models made "in China for China".
Volkswagen, the largest foreign automaker operating in the country, announced that by 2027 it would release more than 20 new cars for the local market.
Boeing says China not accepting planes over US tariffs
New York, United States -- Boeing's CEO confirmed Wednesday that China had stopped accepting new aircraft due to the US-China...President Trump's trade conflicts with China and other countries loom as a question mark for Boeing, a major US exporter, despite Wednesday's solid results.
Boeing had planned to send around 50 aircraft to China in 2025, said Ortberg, who told the network that the company wouldn't "wait too long" to send the jets to other customers.
Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airlineSaudia Group currently operates a fleet of 194 aircraft, serving commercial aviation, cargo operations, and logistics services.
"The group is set for significant expansion, with 191 new aircraft scheduled for delivery in the coming years," the airline said.
ADIB’s Q1 net profit $517 million
Q1 2025 net profit before tax increased 18% YoY.Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting an 18 percent increase compared to Q1 2024.
Revenue for Q1 2025 improved by 14 percent to AED 2.9 billion compared to AED 2.5 billion for Q1 2024.
Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...The IMF projections see the global economy growing by 2.8 percent this year, 0.5 percentage points lower than the previous World Economic Outlook (WEO) forecast in January.
The IMF expects China, the world's second-largest economy, to see growth slump to 4.0 percent this year, down from 5.0 percent in 2024.
Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.The transaction includes Jeppesen, an 81-year-old aviation navigation company that Boeing acquired in 2000.
Boeing chief executive Kelly Ortberg has described targeted divestitures as a way to improve the company's financial position after a series of losses.
