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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.
  • KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility

    ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...

    The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.

    The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.

  • Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO

    DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...

    Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023.

    Dubai Airports' official forecast for 2024 stands at 88.8 million passengers, despite the Israel- Hamas war which began in October.

  • SCC committee discusses issues related to Sharjah’s economy and tourism

    SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...

    The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.

    The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.

  • Nintendo shares tumble 8.5%

    Its next-generation console will be delayed until 2025.

    A news report said the next console would miss the key Christmas holiday shopping period in December

    The gadget is fading with the console now in its seventh year, but the company is tight-lipped about its plans

  • Qatar real-estate trading volume in January stands at US$521m

    Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...

    According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month

    The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024

  • Aamal net profit up 5.7%

    Its gross profit jumped 3.1% to US$137.25m in 2023.

    According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.

    Its chairman said the performance of their trading and distribution segment was noteworthy

  • GCC emerges as a cryptocurrency investment hub

    Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...

    Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment, says an expert.

    Hao Yang of Bybit highlights the sector's regulated nature, its accessibility beyond tech-savvy individuals, and the importance of education and due diligence behind its growth.

  • Saudi holdings of US Treasuries surge to $131.9b in December 2023

    ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...

    The Kingdom maintained 16th place among the largest holders of US treasury securities for December.

    Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.

  • HMG 2023 net profit $544m

    The rise was due to the hospitals and pharmacy segments.

    The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).

    Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).

  • OpenAI valued at $80bn in new deal

    With this deal, the value of the firm has tripled in 10 months.

    The deal would have the San Francisco-based firm selling existing shares to investors led by Thrive Capital

    The tech firm led a revolution in artificial intelligence when it placed its ChatGPT program online in late 2022