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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.
  • Gupco begins pumping oil in Egypt

    The production started at the first well in the Gulf of Suez.

    Egypt's petroleum minister said the project first phase aims to reach 6,000 barrels per day by mid-January

    The completion of the second well is expected by mid-January to raise production to targeted levels

  • New investors throng Dubai Financial Market to open accounts

    Dubai, UAE--Brokerage firms at the Dubai Financial Market (DFM) opened 57,054 new investor accounts in 2023, marking a significant increase...

    The expansion in the growth resulted from the listing of the government and semi-government companies and also rising popularity of online trading

    The brokerage firms numbering 29 on the bourse executed over 3.83 million transactions in 2023, a 32.7% increase compared to 2022's 2.88 million

  • Najran extends MoU with Ayan for Commerce & Industry

    Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...

    This extension comes as a result of the ongoing valuation and due diligence processes, which are yet to be completed

    The original MOU, signed on October 19, 2023, was set to pave the way for a potential collaboration between the two companies

  • Maisarah leads Oman government’s successful sukuk issuance

    MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...

    The Sukuk-Al-Ijara structure has a seven-year maturity and was conducted through private placement to sophisticated investors in Oman.

    The issuance has been listed on the Bonds and Sukuk Market, operating under the Muscat Stock Exchange.

  • Cerberus buys HSBC France retail

    The takeover was finalized for an undisclosed amount.

    The operation will see HSBC France's nearly 250 retail branches with their 800,000 clients and 3,500 staff become CCF

    The move is part of London-headquarters HSBC's efforts to simplify and refocus operations on its major region of Asia

  • Albilad Capital to pay dividend 

    The distribution ratio of the NAV stands at 0.10 percent.

    Albilad Capital confirmed that the dividends would be based on the unitholder register as of the end January 3, 2024.

    The total amount of distributed dividends has been declared at US$24,183, an indication of the fund's robust performance

  • IsDBI begins building digital marketplace for Islamic finance

    Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge...

    The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development.

    This project aligns with the IsDBI’s objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in member countries.

  • Saudi insurance sector shows 14.6 percent growth in Q3 of 2023

    RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...

    The report has been issued to provide transparent and accurate information about the performance of the insurance sector.

    The report showed a 2.2 percent increase in the insurance sector’s penetration ratio to non-oil GDP in Q3 of 2023.

  • Makeen, Rolls-Royce forge partnership

    They will manufacture, test, sell and service mtu engines in Saudi.

    The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.

    Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.

  • Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023

    Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...

    Total exports of goods amounted to around QR 26.5bn in Nov 2023, showing a decrease of 28.6 percent compared to Nov 2022, and a decrease of 8.8 percent compared to Oct 2023.

    In Nov 2023, China was at the top of the countries of destination of Qatar's exports with close to QR 5.4 billion, a share of 20.4 percent of total exports.