Syria inks $7 bn energy deal with Qatari, Turkish, US firms
The agreement was sealed at the presidential palace in Damascus in the presence of interim President Ahmed al-Sharaa and US...Business
ADNOC Drilling secures $1.15bn contract
The contract for two jack-up rigs begins in the second quarter.Company News Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.
TikTok’s US future uncertain
It must find non-Chinese owner to avoid ban.In the hours before that deadline, TikTok temporarily shut down in the United States and disappeared from app stores, to the dismay of millions of users.
Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally.
Pausing production, raising prices: Automakers shift gears after Trump tariffs
Paris, France -- Automakers have already started to adapt to the 25-percent tariff imposed on car imports by US President...Bank of America estimates that some 7.3 million vehicles, or eight percent of global auto sales, will get hit by the tariff.
Trump has stated that the goal of the tariffs is to encourage manufacturing jobs to return to the United States, but it is unclear whether that will be achieved.
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...Beijing also imposed exports controls on seven rare earth elements, including gadolinium -- commonly used in MRIs -- and yttrium, utilized in consumer electronics.
French President Emmanuel Macron has called for suspending investment in the United States until what he called the "brutal" new tariffs had been "clarified".
Saudi Arabia’s travel account surplus reaches nearly $13.27bn
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion...This surge was fueled by a 13.8 percent increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 billion in 2024.
Saudi tourism ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem,
Tesla Q1 sales sink 13 percent
The dip occurred amid lower production during factory upgrades.Musk's electric vehicle company delivered 336,681 autos in the quarter ending March 31, missing analyst expectations.
Tesla shares fell more than six percent in early trading after the deliveries fell by more than expected from the year-ago stretch. Shares later partially rebounded.
AD Ports Group 2024 revenue $4.70bn
The Group's EBITDA increased by 69 percent YOY.All of the Group’s business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue.
The Group successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.
Tesla sales tumble in Europe in Q1
The company suffered from boycotts against the policies of Elon Musk.Sales of Tesla's electric cars in France fell 36.8 percent in March from a year ago amid a slight drop in the overall electric car market
In Sweden, Tesla sales declined 63.9 percent in March and 55.2 percent in the first three months of the year, according to Mobility Sweden
Ford’s US Q1 auto sales dip
But its Q1 figures exceed a forecast by EdmundsThe automaker reported a 1.3 percent dip in sales in the world's biggest economy, to 501,291 vehicles, compared with the same period in 2024.
This was mainly due to the discontinuation of certain vehicle models and rental fleet sales timing, the company said.
