Search Site

Trends banner

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Huawei profit tops $12bn

Huawei has been at the center of an intense standoff between China and the United States. (AFP)
  • Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
  • Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.

Beijing, China – Chinese telecom giant Huawei on Friday said its profits more than doubled in 2023, a year that saw the company defy US sanctions with the release of a high-end smartphone.

Last year, the Shenzhen-based firm generated a profit of 87 billion yuan ($12 billion), more than double 2022’s 35.6 billion yuan but short of its record profit of 113.7 billion yuan in 2021.

Revenues also surged by 9.6 percent.

“We’ve been through a lot over the past few years,” Rotating Chairman Ken Hu said. “But through one challenge after another, we’ve managed to grow.”

Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage, an allegation the company denies.

Sanctions since 2019 have cut Huawei’s access to US-made components and technologies, forcing it to diversify.