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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.
  • Vinfast to build EV factory in India

    It is part of the company's planned US$2bn investment.

    According to a VinFast statement, the facility will be in the southern state of Tamil Nadu

    In August last year, the firm listed on the Nasdaq as its valuation skyrocketed and then crashed

  • China’s Evergrande says head of EV arm detained

    At the time of its establishment in 2019, Evergrande NEV said it aimed to become the world's leading manufacturer of...

    Once China's biggest real estate developer, Evergrande has reported more than $300 billion in liabilities and its troubles have become a symbol of the nation's years-long property

    The firm's electric vehicle arm NEV said Monday that Liu Yongzhuo - listed on its website as its president - had "been detained in accordance with the law on suspicion of illegal

  • Honda to set up EV plant in Canada

    The plant is estimated to cost Honda US$14 billion.

    the project would represent one of the multinational firm's biggest investments ever

    Honda said that it is "considering a number of initiatives as we move into the electrified era"

  • Qatar PMI data reveals ‘stable business conditions’ in non-energy sector

    Doha, Qatar--Qatar's non-energy private sector registered broadly stable business conditions in December, the latest Purchasing Managers Index (PMI) survey data...

    The survey reveals that financial services remained a key source of growth at the end of the year and price pressures were still subdued

    The PMI registered 49.8 in December, from 51.5 in November and the latest figure was close to the mark of 50.0, signaling stable business conditions

  • Germany ready to sell Eurofighter jets to Saudi Arabia: minister

    "We do not see ourselves, as the German federal government, opposing British considerations on other Eurofighter (sales)," Baerbock told journalists...

    Annalena Baerbock noted that Saudi Arabia and Israel had "not renounced their policy of normalisation" since war broke out

    "The fact that Saudi Arabia is now intercepting missiles fired by the Houthis at Israel underlines this, and we are grateful for that," she added

  • Alumicor to set up base in Bahrain

    It will help the kingdom in the processing of aluminum.

    The collaboration will bring cutting-edge technologies to Bahrain, offering local manufacturers’ opportunities to enhance operational efficiency

    Alumicor's facility is expected to create new job opportunities for Bahraini professionals, including in senior executive and administrative roles

  • GCC telecom firms turn to Europe, Asia for expansion

    Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...

    Lower valuations of international telecom companies are enticing GCC companies to venture into newer markets with a lot of potential for growth

    Many experts feel expansion will provide diversification of the portfolio beyond the GCC to mitigate risks associated with economic fluctuations

  • Resilient supply chains are essential to global trade: Expert

    DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...

    The COVID-19 pandemic highlighted the critical role of resilient supply chains in sustaining economies worldwide to the forefront.

    Wars, armed conflicts, overall increasing geopolitical tensions, and protectionism create serious headwinds for global trade.

  • Avalon sets sights on Tadawul listing

    The firm will offer 6 million shares in its Initial Public Offering.

    The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.

    In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.

  • Utilizing AI is only possible if skill gap is bridged, says expert

    DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...

    As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.

    Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.