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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.
  • Google warns against downloading its AI model from external sources

    Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...

    According to Google the download delivers malware to victims, stealing sensitive data and starts from a user's social media accounts

    The company is working on Bard tools to integrate them into many of the different services it provides from search engine to Pixel phones

  • Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?

    The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...

    In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure

    According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday

  • Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?

    The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...

    In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure

    According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday

  • EgyptAir orders 10 Airbus A350 planes in $3.2bn deal at Dubai Airshow

    The transaction is worth $3.2 billion, reports say.

    Airbus commercial director Christian Scherer told a news conference the deal marked "an important milestone" in the "long and successful partnership" with EgyptAir

    Airbus, which on Monday announced an order for 30 A220-300s from Latvian budget carrier airBaltic, has been overshadowed by US rival Boeing at this year's Dubai Airshow

  • UAE’s Tawazun Council signs deals worth $1.27bn at Dubai Airshow

    Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security...

    Four contracts were signed by Tawazun Council on behalf of the Ministry of Defense with local companies, totaling AED 2.7 billion ($740m)

    A contract was signed with “Air Dynamics Solutions” to provide Technical Support and Purchase of Spare Parts and Repair of Aircrafts.

  • Foxconn reports 11% rise in profit

    Foxconn is China's largest private-sector employer.

    Foxconn said net profit for July-September rose to Tw$43.1 billion (US$1.3 billion) from Tw$38.8 billion in the same period last year

    Tuesday's results follow consecutive quarterly profit misses - with January-March seeing a drop of 56 percent and a one percent fall in next three months

  • Emirates to build advanced $950m engineering facility at DWC

    Dubai, UAE -- Emirates has unveiled a plans to build a $950 million cutting-edge engineering facility at Dubai World Central...

    Spanning 1 million square meters, the engineering complex is set to become the most extensive and advanced facility of its kind operated by any airline globally.

    Tailored to meet the evolving needs of Emirates' aircraft fleet through the 2040s, the facility is expected to provide support for the airline's operations.

  • Denmark, Netherlands top destinations for remote working: Report

    Davos, Switzerland -- Denmark, the Netherlands, and Germany have emerged as the leading countries for remote working, offering the best...

    The Global Remote Work Index, which evaluates 108 countries, is a crucial tool for remote workers seeking the best destinations for their work.

    A WEF report, which surveyed over 800 companies employing more than 11 million workers, highlights remote working as a significant trend.

  • ACWA Power, SEC sign PPAs

    The agreements signed with SPPC are valued at $3.9 billion.

    The agreement, signed on November 13, pertains to the development, financing, construction, ownership, and operation of two expansive combined cycle gas turbines power plants.

    Named Taiba 1 and Qassim 1, these mega-projects are strategically situated in Madinah and Qassim, with a production capacity of 1,800 megawatts (MW) each.

  • 1962 Ferrari auctioned for $51.7 m in New York: Sotheby’s

    Dating from 1962, the legendary Scuderia sports car -- chassis 3765, four-liter engine developing 390 horsepower -- had finished second...

    The bright red roadster had been the property of an American collector for the past 38 years

    The 250 GTO went on sale Monday evening after a few minutes of bidding in the auction room