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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.
  • Iran to set up real-estate stock exchange in H2

    When established, it is expected to be Iran’s fifth major stock exchange.

    It will be under the purview of the Iran Mercantile Exchange or IME

    Such an exchange is expected to provide housing units for the underprivileged

  • Saudi Arabia lifts ban on entry of foreigners

    Saudi Arabia has lifted the ban on the entry of foreigners from 20 countries, six months after the kingdom declared...

    The Ministry of Foreign Affairs’ agency for consular affairs said the decision only applied to expats who were fully vaccinated in Saudi Arabia before they departed for their home

    Expats wanting to return to the Kingdom should undergo all health measures to ensure they were free from infection, the agency added

  • IFC pours $10.4bn in private sector in MENA

    During the current financial year, the International Finance Corporation (IFC), a member of the World Bank group, provided financing worth...

    IFC's financing included $2.9 billion in short-term finance and $4.2 billion in mobilization

    The funds helped small businesses access finance, connect people and businesses to reliable digital infrastructure, trade and services

  • Chabahar port becomes permanent member of World FZO

    The World FZO is a non-governmental, non-profit entity based in Dubai in the United Arab Emirates.

    Chabahar is Iran's only oceanic port on the Gulf of Oman

    It can from now on participate in the decisions and events of the World FZO

  • ADNOC L&S acquires line boats

    Boats used for marine services at Abu Dhabi petroleum ports.

    All six vessels contracted from Sharjah-based Albwardy Damen.

    ADNOC L&S says it is in the midst of strategic expansion program.

  • TikTok to offer in-app shopping with Shopify

    The social media app will expand into e-commerce in partnership with Shopify

    The social media app will expand into e-commerce in partnership with Shopify

    The news comes amid rising interest in "social commerce" that is expected to be worth some $36 billion in the US this year

  • Samsung announces $205 billion investment plan

    The tech giant is South Korea's largest conglomerate and its overall turnover is equivalent to a fifth of the national...

    The tech giant is South Korea's largest conglomerate and its overall turnover is equivalent to a fifth of the national gross domestic product

    Samsung Electronics, the flagship subsidiary of the Samsung Group, is the world's biggest smartphone maker

  • High cost of non-stop flying shakes up aviation

    The global aviation industry has been booming for the last few decades now. But the unprecedented growth in jets flying...

    The aviation sector generates 2-3% of global carbon emissions

    Industry leaders pledged to halve net CO2 emissions to 2005 levels by 2050

  • Bahrain’s rich own half of its total wealth

    Nearly half of Bahrain’s wealth, of $69 billion, is possessed by its super-rich citizens, according to Boston Consulting Group (BCG).

    Ultra high-net-worth individuals (UHNWIs), who are valued at $100m or more are expected to own 44pc of overall financial wealth in the kingdom by 2025

    the upper high-net-worth ($20m to $100m) and lower high-net-worth ($1m to $20m) individuals are expected to own 9pc and 15pc of financial wealth in the kingdom respectively by 2025

  • Kuwait looks to regulate local used-car trade market

    The regulation will look to limit the maximum number of cars non-Kuwaiti residents in the country can own.

    Local authorities were recently alerted to people in the country with up to 50 vehicles in their names

    These people were apparently trading in used cars without a proper license

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