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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.
  • Facebook says some users struggling to access its services

    Facebook did not provide details on the cause or scope of the problems, which caused users to flock to Twitter...

    Facebook did not provide details on the cause or scope of the problems, which caused users to flock to Twitter to voice frustration

    Hundreds of millions of people were unable to access Facebook, Instagram or WhatsApp for more than six hours on Monday

  • GDP of Arab economies down 3.8 percent: World Bank

    The region’s average real GDP per capita is forecast to increase by only 1.1 percent in 2021 after declining an...

    Thirteen out of 16 countries in the region will have lower standards of living in 2021 than their pre-Covid levels.

    Pandemic losses are calculated by comparing where the region’s GDP would have been if the pandemic had not hit, the bank said.

  • Apple iPhone

    Apple appeals verdict in App Store battle

    The verdict ordered Apple to loosen control of its App Store payment options but said Epic failed to prove any...

    The companies had opted for a so-called bench trial in which a judge rather than a jury hears the evidence and decides on a verdict.

    Apple can still mandate that its payment systems is used for in-app transactions.

  • High oil prices lift Saudi index to 14-year high

    The main Saudi stock index closed trading on October 7, with an increase of 19.45 points, to close at the...

    The next day, the Saudi index increased 0.1 percent, with Al-Rajhi Bank rising 1.6 percent and the Saudi National Bank rising 2.5 percent due to stable oil prices

    The rise in oil prices drove the Saudi stock market to its highest level in 14 years

  • DP World and Saudi Ports Authority to give Jeddah Islamic Port a makeover

    Dubai Ports World and Saudi Ports Authority (Mawani) have come together to expand the capacity of Jeddah Islamic Port.

    The development work will be carried out in four phases, with the project scheduled to be completed by 2024

    It includes improvements that will enable the terminal to serve five ships simultaneously and deal with the largest container ships

  • ACWA Power listed on Saudi bourse

    ACWA Power shares can be traded on Tadawul from Monday.

    ACWA Power will be allowed a daily price fluctuation limit of 30 percent and a static price fluctuation limit of 10 percent both ways

    After three days, the daily price fluctuation limit of 30 percent will come down to 10 percent, while the static price fluctuation limit will not apply

  • India selling Air India to Tata conglomerate for $2.4 billion

    Tata had founded the airline as Tata Air in 1932, with the first flight piloted by Tata's eponymous chairman himself....

    The government is also selling a 50 percent stake in Air India SATS Airport Services, which provides cargo and ground handling services.

    New Delhi is seeking to lease state-owned assets to the private sector to raise $800 billion.

  • Salaries of Saudi staff leap up 5.2 percent in Q2, expats earned lesser

    Average monthly salaries of Saudi workers have grown by 5.2 percent to SAR 10,490 during the second quarter of 2021,...

    On a quarterly basis, the salaries declined by 1.03% when compared to their level in Q1-21 at SAR 10,600

    Meanwhile, the average monthly salaries paid to expatriates in the kingdom fell by 1.08% YoY to SAR 4,091 in the April-June period

  • YouTube Music tops 50 million subscribers

    YouTube Music trails rivals Spotify, Amazon and Apple. The company said in June it has paid more than $4 billion...

    Spotify had 32 percent of the global music streaming market in the first quarter of this year.

    The overall number of streaming music service subscribers climbed more than 19m to a total of 487m in Q1.

  • UN official lauds UAE for resolve to cut carbon emissions to zero by 2050

     The United Arab Emirates will aim to achieve net-zero emissions by 2050, a plan commensurate with the country’s 2050 Strategic...

    UAE aims to reach net zero greenhouse gas emissions by 2050

    The initiative, announced at Expo 2020 Dubai, aims to underpin dynamic economic growth alongside positive environmental impact

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