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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.
  • ADCB approves cash dividends worth US$1.1bn  

    ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...

    ADCB’s physical-cum-virtual 40th Annual General Assembly meeting approved the decision.

    The Board of Director’s proposal means distributing cash dividend of $0.15 (AED0.56) per share.

  • Binghatti lists sukuk on Nasdaq Dubai

    The debut issue of the company is valued at US$300m.

    The company's listing sets a new standard as the first real estate benchmark USD-denominated sukuk from MENA in 2024

    Nasdaq Dubai has maintained its position as a leading exchange for fixed income listings across the MENA region

  • Burjeel Holdings net profit up

    The company’s 2023 annual revenue rises to US$1.2 billion.

    The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.

    It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.

  • Saudi Arabia transfers 8% Aramco stake to PIF-owned firms

    Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...

    The transfer was "a continuation of Saudi Arabia's long-term initiatives to boost and diversify the national economy and expand investment opportunities".

    The move brings the state's ownership of Aramco shares to 82.19 percent.

  • Nationwide offers to buy Virgin Money

    Nationwide has offered US$3.7 billion for Virgin Money.

    Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.

    The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.

  • Lufthansa profit spikes in 2023

    Its net profit shot up to US$1.82bn as demand booms.

    The group reported a net profit of 1.67 billion euros ($1.82 billion), compared to 791 million euros in 2022

    The profit was slightly below an estimate of about 1.8 billion euros by analysts surveyed by financial data firm FactSet

  • Saudi tech show LEAP 2024 to close on ‘record-breaking’ note

    Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...

    The tech show featured hundreds of speakers, more than 600 startups, besides 170,000 participants from around 180 countries

    HONOR, Chinese consumer electronics brand, announced regional expansion plans with an investment of US$100 million

  • Gold, bitcoin pull back from records as US stock markets slip

    On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended...

    Gold hit a new record of $2,140 an ounce in early trading, before giving up some of its gains to trade close to $2,128 at around 2130 GMT

    Among digital assets, bitcoin briefly hit a record high above $69,000 - beating a record of $68,991 struck in November 2021

  • Trailblazing women transform finance in Arab world

    Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.

    Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.

    The leadership of these daring females not only drives economic growth but also inspires a new generation of women to pursue careers in finance in the region.

  • Toyota to invest US$2.2bn in Brazil

    The automaker will beef up production of hybrid vehicles.

    The automaker will make two "flex hybrid" models in Brazil -- using either petrol or ethanol as well as batteries -- creating around 2,000 jobs

    Japan's automakers, in spite of the boom in electric cars, have relied on hybrid vehicles that combine internal combustion engines and batteries