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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.

Gulf Union Alahlia Q1 profit $7.5m

The overall loss ratio decreased from 81.6 percent in Q3 of 2022 to 80.7 percent in Q3 of 2023.
  • Net investment income rose to US$1.2 million (SAR 4.6 million) from US$1 million (SAR 4 million) in Q1 2022.
  • The insurance services provider reported a rise in other income to US$4 million (SAR 15 million) in Q1 2023.

RIYADH, SAUDI ARABIA – Gulf Union Alahlia Cooperative Insurance Co reported a net profit before Zakat of US$7.5 million (SAR 28.4 million) for Q1 2023 against a net loss of US$6.4 million (SAR 24.3 million) in the year-earlier period.

The company’s positive results were driven by a decline in insurance services expenses to US$ 32.5 million (SAR 122 million) in Q1 2023, compared to US$44.2 million (SAR 166 million) in Q1 2022.

Net investment income rose to US$1.2 million (SAR 4.6 million) from US$1 million (SAR 4 million) in Q1 2022. Further, the insurance services provider reported a rise in other income to US$4 million (SAR 15 million) in Q1 2023 from US$69,000 (SAR 260,000) in Q1 2022.

Shareholders’ equity, with no minority interest, increased to US$118 million (SAR 443.35 million) as of March 31, 2023.