UAE raises $299 million in Islamic Treasury Sukuk auction
Abu Dhabi, UAE — The UAE Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE, has...Business
Stocks rise on $5 billion Nvidia-Intel deal, Fed rate cut
Nvidia announced a $5 billion investment in struggling US rival to jointly develop chips for PCs and data centers. The...Business Economy
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 EdmundsThe 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.
Qatar’s Producer Price Index for Feb down 0.33 percent year-on-year
Doha, Qatar -- Qatar's general Producer Price Index (PPI) for the industrial sector for February recorded 114.01 points, showing stability...The PPI for the industrial sector is composed of four main sectors: mining and quarrying, which accounts for 82.46 percent of the index.
On an annual basis, the index for this sector fell by 0.42 percent, attributed to the same decline in oil and gas extraction.
Goldwind 2024 revenue up 12.5%
The clean energy giant posted $7.8bn in revenue for 2024.Net profit last year also saw growth, rising nearly 40 percent percent to 1.9 billion yuan.
China now dominates the global wind sector in terms of total installed capacity, aided over the years by generous strategic subsidies from Beijing.
