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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.

  • 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.

  • oil

    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 Edmunds

    The 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.

  • OpenAI says it raised $40 bn at valuation of $300 bn

    San Francisco, United States - OpenAI on Monday said it raised $40 billion in a new funding round that valued...

    The infusion of cash comes in a partnership with Japanese investment giant SoftBank Group

    SoftBank said in a release that it is on a mission to realize Artificial Super Intelligence (ASI) that surpasses human intelligence

  • Vanke reports annual loss of $6.8 bn

    The property giant attributes loss to falling sales and shrinking profit.

    Beijing has in recent years grappled with a prolonged crisis in the country's vast real estate sector, once a key pillar of the economy but now beset with sprawling debt.

    Hong Kong-listed Vanke is part-owned by the government of Shenzhen and was China's fourth-largest real estate firm by sales last year, according to research firm CRIC.