Boeing says China not accepting planes over US tariffs
New York, United States -- Boeing's CEO confirmed Wednesday that China had stopped accepting new aircraft due to the US-China...President Trump's trade conflicts with China and other countries loom as a question mark for Boeing, a major US exporter, despite Wednesday's solid results.
Boeing had planned to send around 50 aircraft to China in 2025, said Ortberg, who told the network that the company wouldn't "wait too long" to send the jets to other customers.
Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airlineSaudia Group currently operates a fleet of 194 aircraft, serving commercial aviation, cargo operations, and logistics services.
"The group is set for significant expansion, with 191 new aircraft scheduled for delivery in the coming years," the airline said.
ADIB’s Q1 net profit $517 million
Q1 2025 net profit before tax increased 18% YoY.Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting an 18 percent increase compared to Q1 2024.
Revenue for Q1 2025 improved by 14 percent to AED 2.9 billion compared to AED 2.5 billion for Q1 2024.
Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...The IMF projections see the global economy growing by 2.8 percent this year, 0.5 percentage points lower than the previous World Economic Outlook (WEO) forecast in January.
The IMF expects China, the world's second-largest economy, to see growth slump to 4.0 percent this year, down from 5.0 percent in 2024.
Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.The transaction includes Jeppesen, an 81-year-old aviation navigation company that Boeing acquired in 2000.
Boeing chief executive Kelly Ortberg has described targeted divestitures as a way to improve the company's financial position after a series of losses.
Saudi Aramco, BYD form alliance to develop low-carbon automotive innovations amid EV growth
Saudi Aramco, the world's largest producer of oil, "is exploring a number of ways to potentially optimize transport efficiency, from...The Saudi oil giant is already a partner with Renault of France and the Chinese automaker Geely in a joint venture to produce thermal engines
Saudi Arabia is working to diversify its economy, which is dependent on oil export revenue, and wants to set up 5,000 EV charging stations by 2030
DHL to stop global shipments worth over $800 to US consumers
Washington, United States -- Global shipping giant DHL will "temporarily" suspend the shipping of parcels worth more than $800 from...President Trump has launched a wide-ranging trade war, threatening friend and foe alike with steep tariffs to address US trade deficits with individual countries.
As part of those changes, the government has also lowered the threshold at which parcels to individuals require formal entry processing by US Customs -- down to $800 from $2,500.
Gold hits record, dollar drops as tariff fears dampen sentiment
With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...The precious metal was also helped by a weaker dollar, which has also been hit by worries about Trump's standoff with Fed boss Jerome Powell.
Stocks had a mixed start to the week, with Tokyo weighed by the stronger yen while Taipei, Jakarta and Bangkok were also in negative territory.
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...The UAE accounted for 41.4 percent of the Middle East’s $1.5 trillion merchandise exports, with regional exports growing by 3.7 percent and services by 4.1 percent in 2024.
Globally, the UAE contributed 2 percent to services exports and 1.3 percent to imports, with service exports of $176 billion and imports of $106 billion.
Eni profit falls due to dip in oil prices
Q2 net profit fell by 18% to $637 million.
Emirates NBD H1 profit $3.40bn
Total income rose by 12 percent in the same period.
ADIB H1 pre-tax profit $1.08bn
Q2 pre-tax net profit increases by 14 percent.
AstraZeneca to invest $50bn in US
Bulk of funds to go into a Virginia manufacturing center.
UAB net profit up by 50% for H1
Total assets increase by 11 percent.
