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TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

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
  • Aramco, Intel to set up Saudi Arabia’s first open RAN center

    Riyadh, Saudi Arabia -- Aramco Digital Co. and Intel have unveiled plans to establish Saudi Arabia’s first open radio access...

    The Open Wireless Access Network Development Center is scheduled to start operations in 2024, marking a milestone in the Kingdom's journey towards a technology-driven future.

    Aramco Digital is a technology subsidiary of energy giant Saudi Aramco that aims to drive digital transformation and technological innovation across industries.

  • Saudi Chemical Co announces dividend

    The company will distribute $11,385,120 to its shareholders.

    Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout

    Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value

  • Toyota’s Daihatsu suspends all domestic production

    The company said it had been manipulating safety tests since at least 1989, affecting 64 models, including some sold under...

    The firm, which has about 9,000 factory workers in Japan, closed the last of its four domestic plants, a Daihatsu spokesman told on Tuesday

    The move could affect more than 8,000 companies across the country, according to a private research firm

  • Empower, ASHRAE form alliance

    They partnered to lead global expansion of the cooling sector.

    The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge

    One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries

  • DEWA awards pipeline contract

    The US$3m-contract is for the laying of GRE pipes in Hatta.

    The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC

    The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements

  • GIB, KSA wrap up Sukuk debut

    Gulf International Bank is a merchant bank in the Middle East

    The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives

    GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance

  • UAE stocks generate over US$272m cash flows on Monday

    Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...

    ADX notched up $241.25 million in liquidity, as compared to the $31.31 million gained by the Dubai Financial Market (DFM), with $56.50

    The market capitalisation of listed stocks reached reached $980 billion on Monday, divided into $792 billion in ADX and AED 676.8 billion in the DFM.

  • KPMG’s global revenue touches $36bn

    The company has outlined a collective investment of $4.2b.

    The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23

    The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach

  • Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact

    MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...

    Beni Mellal Chamber of Commerce, Industry and Services delegation head said that Saudi Arabia is Morocco's largest trading partner.

    In 2022, the volume of Saudi Arabian exports reached US$4.6 billion, while the value of imports was US$87 million.

  • Institutional investors purchase $1.9bn in UAE stocks during 2023

    Abu Dhabi, UAE -- Institutional investors boosted their acquisition of domestic stocks in 2023, purchasing nearly AED 7 billion ($1.9...

    This figure reflects a total purchase of AED 302.7 billion compared to total sales of approximately AED 295.8 billion.

    Institutional investors dominated the UAE equity market in 2023, capturing nearly 78 percent of total trading activity.