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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.
  • Xiaomi launches first electric car

    The car manufactured by Xiaomi likely to enter market by 2025.

    Xiaomi boss Lei Jun took to the stage in Beijing Thursday to unveil the SU7, a sedan that is scheduled to enter the market in 2025

    Xiaomi announced in 2021 to enter the highly competitive sector of electric vehicles manufacturing

  • QatarEnergy, Shell sign agreement

    QatarEnergy will supply 18m barrels of crude oil per year to Shell.

    QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.

    "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy

  • Norway fund drops Aramco, 11 other Gulf firms over ’rights concerns’ 

    KLP, which manages over 700 billion kroner ($70 billion), said the exclusion amounted to $15 million. The fund dropped 11...

    Saudi Aramco was blacklisted due to its ties to the Saudi state and for "contravening expectations over climate and energy transition plans", the fund said.

    In 2021, the fund excluded 16 companies with links to Israeli settlements in the West Bank, which are considered to be in violation of international law.

  • ESG buys 60% stake in AFKAR

    Emirates Stallions Group is an IHC subsidiary.

    AFKAR has been active in various sectors including commercial enterprise investment, institution and management.

    AFKAR has recorded a 13 percent increase in assets and a 10 percent rise in revenue during the past 3 years, underpinned by a workforce of over 600 employees.

  • UAE farm harvests $5.6m from carbon credits in eco-friendly agriculture triumph

    Dubai – An innovative agricultural project in the United Arab Emirates, has generated $5.6 million euros from carbon credit sales. The...

    Carbon credits are permits that allow a company to emit a certain quantity of greenhouse gases, with one credit equaling the emission of one ton of carbon dioxide

    Companies are allocated a specific number of these credits, and If they reduce their emissions and have surplus credits, they can sell these to other companies

  • New York Times sues OpenAI, Microsoft in copyright clash

    Through their AI chatbots, the companies "seek to free-ride on The Times' massive investment in its journalism by using it...

    The Times, one of the most respected news organizations in the United States, is seeking damages, as well as an order that the companies stop using its content

    While no sum is specifically requested, the Times alleges that the infringement could have cost “billions of dollars in statutory and actual damages"

  • UAE’s budget carrier Air Arabia to launch daily flights to Kabul

    Last month flydubai, another low-cost Emirati airline, became the first international carrier to resume flights to Afghanistan since the chaotic...

    Last month flydubai, another low-cost Emirati airline, became the first international carrier to resume flights to Afghanistan

    Last year, GAAC signed a contract to manage Afghanistan's air traffic, an agreement that was expected to bring back international airlines

  • AD Ports, RSPA to develop and operate terminal in Egypt’s Safaga Port

    Cairo, Egypt -- AD Ports Group (AD Ports) has signed a concession agreement with the Red Sea Ports Authority (RSPA)...

    The Safaga Port definitive agreement, sanctioned under the Law on the Granting of Commitment Contract issued on 1st November 2023, will see an investment of US$200 million.

    The terminal, spanning approximately 810,000 square meters, will feature a 1,000-metre quay wall and will handle diverse cargo types.

  • Cornerstone laid for $40 million logistics park at King Abdulaziz Port

    Riyadh, Saudi Arabia -- The cornerstone was laid for an integrated SAR150 million ($39.99 million) Logistics Park at Dammam's King...

    The area of the new park is 100,000 sq. meters, with capacity of 300,000 TEUs annually.

    It aims to facilitate the growth of shipping connectivity, and global logistics services, and to raise the quality and efficiency of services.

  • Yango shakes up UAE transportation sector with innovative tech and safety features

    DUBAI -- In the heart of the UAE, a significant transformation is taking place in the transportation sector. As the...

    The firm emphasizes on safety with advanced technologies like speed control and driving-style monitoring systems.

    Beyond ride-hailing, Yango offers last-mile delivery solutions and an AI Arabic-speaking assistant, Yasmina.