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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.
  • Dubai business licenses issued in Aug register 54 percent growth

    The growth reflects the ease of doing business in the Emirate and the government's measures to simplify procedures for businesses.

    59 percent of the new licences issued in August 2021 were professional.

    At 38 percent, sole establishment companies topped the list, followed by civil companies and limited liability companies.

  • Saudi gold glitters more in the region

    Gold prices reached record levels in 2020 following an increase in investor appetite because of COVID-19. The price of yellow...

    Gold jewelry shopping in Saudi Arabia and Egypt grows 13 percent and 4 percent and decreases 12 percent in the UAE

    China purchased 191.1 metric tons of gold in 2021, followed by India, which bought 102.5 metric tons

  • Iran looks east after China-led bloc okays entry

    Iran has been trying to enter the SCO for years, and was close last year, but Tajikisatn objected to it.

    Iran has hailed its acceptance into the Shanghai Cooperation Organization, a bloc led by China and Russia

    This, for it, was an eastward turn that it sees as opening access to major world markets and a counter to Western sanctions

  • UAE reelected as vice president of Belt and Road Tax Forum

    The United Arab Emirates (UAE) has been elected as vice president of the Belt and Road Initiative Tax Administration Cooperation...

    The UAE’s delegation participated in the Supervisory Board meeting, where the President and the Vice President of the Forum were elected

    The decision to continue with the UAE was taken during meetings bringing together participants from around 57 countries around the world

  • Dubai Police to use AI to secure Expo 2020

    This would include monitoring visitors for safety from the moment of their arrival to the UAE until they reach the...

    The Dubai authorities have already taken several other steps to secure Expo 2020

    This is especially after it has already been delayed by a year due to the Covid-19 pandemic

  • Dubai to get new arbitration court

    The court will be part of a new arbitration body formed by Dubai’s ruler, and have 13 members with non-renewable...

    Dubai ruler Sheikh Mohammed has issued a decree that will merge two entities to create the Dubai International Arbitration Center

    The DIAC, in turn, will establish a new arbitration court for Dubai, consisting of 13 members, including its president and vice-president

  • Saudi Arabia, South Africa to boost pandemic-hit trade

    Saudi Arabia and South Africa are looking to boost trade after a year of slump that saw imports from the...

    South Africa imports approximately 40 percent of its oil from Saudi Arabia, according to the EIA

    Far fewer goods went the other way, with Saudi Arabia importing $347.8 million from South Africa last year, down from $423.8 million in 2019

  • Unifonic to focus on profit, IPO, after securing $125m SoftBank funding

    Days after securing a $125 million Series B funding from SoftBank, the Saudi startup, Unifonic, says that it wants to...

    The main criterion is to maximize the company’s profitability and the appropriate market in terms of the quality of the products we offer

    Unifonic, which currently has offices in Saudi Arabia, the UAE, Jordan and Pakistan, plans to expand its customer engagement offering into new markets in the Middle East and Africa

  • Saudi mining law may pave way for ‘incredible’ investment in $1.3trn sector

    Saudi Arabia is confident that its new mining law will lure private investment from the kingdom as well as abroad...

    In January, the Kingdom moved to capitalize on the vast wealth hidden below ground in Saudi Arabia with the establishment of a mining fund

    The Saudi Industrial Development Fund is also offering 60 percent loans to investors in a bid to attract global players into the Kingdom

  • $6bn merger for Ooredoo arm

    The merged company will be called PT Indosat Ooredoo Hutchison.

    PT Indosat, the Indonesian arm of Qatari telecom firm Ooredoo, will be merged with and PT Hutchison 3 Indonesia

    H3I is a telecom company owned by Hong Kong-based CK Hutchison Holdings

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