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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.

  • OPEC Fund grants US$30m loan to Uganda to build key road link

    Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...

    The construction of the road will provide better, faster and safer transport connections in the central-east region of the country

    The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation

  • L’Oreal net profit jumps 8.4%

    The company's profit surged to US$6.8bn last year.

    The cosmetics giant in statement said its net profit jumped to $6.8 billion while sales grew 7.6 percent

    In North Asia, its sales fell 5.8 percent to $11.52bn, but in South Asia sales jumped 23.2 percent to $3.66bn

  • GCC retail pins hope on customer loyalty programs

    Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...

    Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and personalize shopping experiences.

    The sector are overcoming integration challenges through education, and embracing new market trends like personalized offers, digital wallets, and gamification in loyalty programs.

  • Emaar 2023 revenue at $7.3bn

    Emaar property sales rose to US$ 11 billion in 2023.

    Emaar also achieved 63 percent growth in EBITDA, reaching US$4.4 billion (AED 16 billion) during 2023 as compared to 2022.

    This performance was supported by growth in tourism, a continued upward trend in retail sales and a consistent increase in real estate demand.

  • UAB net profit grows 65%

    Total assets grew 25% in 2023 on strong growth in loans, advances.

    UAB’s financial performance was aided by significant progress across the core businesses with total operating income recording a 15 percent growth.

    Total assets grew 25 percent year-on-year in FY 2023 to AED17.6 billion, driven by the strong growth in loans, advances, and Islamic financing.

  • stc Group inks several pacts

    The pacts were signed at the PIF’s Private Sector Forum.

    The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.

    The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.

  • Presight net profit $155m

    The net profit grew by 5.1 percent to $155 million.

    The company said the financial results were underpinned by major domestic project deployments throughout the year and more so in the last quarter of the year.

    Presight listed on the Abu Dhabi Stock Exchange on March 27, 2023, with an offering, excluding its corner stone investor, that was oversubscribed 136 times.

  • Aldar Properties awards contracts worth US$2.8bn

    ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a...

    The contracts are being recirculated to the local economy, in line with the National In-Country Value (ICV) program.

    The ICV program is crucial to economic and social development, job creation, and the growth of the national GDP.

  • DEWA 2023 net profit $2.15bn

    The system demand for power surged to 56.5 TWh in 2023.

    The fourth quarter revenue was AED 7.1 billion and net profit AED 1.8 billion. The full-year audited results are expected to be released in the first week of March 2024.

    DEWA’s annual consolidated revenue increased by 7 percent, mainly driven by an increase in demand for electricity, water and cooling services.

  • Disney profit beats forecasts

    The company is looking to tap into the passion for video games.

    During the earnings announcement, Disney chief Robert Iger also revealed that the entertainment giant is acquiring a "small equity stake" in Fortnite-maker Epic Games

    Disney is looking to tap into the passion for video games in general and "Fortnite" in particular with a $1.5 billion stake in Epic, according to Iger