Vanke reports annual loss of $6.8 bn
The property giant attributes loss to falling sales and shrinking profit.Company News Business
Emaar to pay $2.39bn dividend
The company had posted $19bn in property sales for 2024.Company News Business
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.Alcoa will offer 0.02854 of its own stock for each Alumina share, a 13 percent premium to the Australian group's Friday closing price
Alumina shareholders would own 31.25 percent and Alcoa shareholders would own 68.75 percent of the combined company
Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data.Specifically,...According to the China Association of Automobile Manufacturers, some 289,000 trucks were sold during this period, a rise of 81.8 percent
Xinhua News Agency said nearly 35,000 coaches were sold last month, an increase of 63.4 percent compared with the same period of 2023
Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says...Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says its CEO Priyanka Sengar.
The portal is committed to breaking down barriers to women's professional success, including pay disparity and limited leadership representation, she adds.
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...The director general of WTO said the "ground-breaking initiative... embodies our collective commitment to empower women".
The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...Binaa Al Bahrain aims to contribute to Bahrain’s long-term development through its iconic projects.
The JV aspires to create job opportunities for Bahrainis in the real estate, hospitality and healthcare.
Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...The expansion, will add a further 16 million tons of LNG per year to existing expansion plans
Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...The Saudi energy minister said that reserves at Jafurah had reached 229trn cubic feet of gas and 75bn barrels of condensates
The Jafurah gas field, in Saudi Arabia's eastern province, is the largest liquid-rich shale gas play in the Middle East
Ford halts shipment of F-150 EVs
It will carry out quality checks on pickup trucks.The automaker said the shipments were stopped on Feb. 9, but did not say when it expected to resume shipments
The company began shipping this week the first newly designed gas-powered 2024 model F-150 pickups to dealers
