Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

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.

  • DFM net profit climbs 124 percent

    Its board has proposed a cash dividend of US$76.24m.

    The upswing in profit was propelled by a significant uptick in trading activities, capital inflow and a notable influx of new investors

    The bourse consolidated its status as a premier market for IPOs, with the listing of Dubai Taxi Company and Al Ansari Financial Services

  • UAE and UK seek to boost economic cooperation

    Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...

    The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024

    The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership

  • Samsung profit dips 34.57 percent

    Its operating profit for Q4 was US$2.1bn.

    The company posted a 73.4 percent drop in net profit to $4.8 billion

    It blamed interest rate policies and geopolitical issues for the drop

  • Saudi Arabia leads GCC in project awards this year

    The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...

    The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.

    The surge in the GCC project awards, especially in gas and construction sectors, reflects a robust economic recovery and strategic investments driving growth.

  • Norway’s sovereign wealth fund posts record US$213bn profit

    Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...

    Fueled by revenues from Norway's state-owned oil and gas companies, the fund is aimed at financing future spending in the generous welfare state

    Around 71 percent of its portfolio was dedicated to equities, with stakes in 8,859 companies worldwide -- or 1.5 percent of all listed stocks

  • UPS says will cut 12,000 jobs

    The move comes as UPS seeks to "align" its resources.

    Three-quarters of the reductions are set to come in the first half, UPS CEO said.

    The decision comes after UPS reported Q4 2023 revenues of US$24.9 billion.

  • Over 70 percent of musicians fear AI, says French-German study

    PARIS, FRANCE - More than two-thirds of musicians fear that artificial intelligence will make it impossible to make a living, according...

    The report found that 35 percent were already using AI in a "large number of areas related to music creation".

    The report added that estimated incomes would fall 27 percent by 2028, equivalent to some US$2.9 billion.

  • Pfizer reports loss in Q4

    The drugmaker's revenues fell 41 percent to $14.2 billion.

    The drugmaker lost $3.4 billion in the fourth quarter, compared with profits of $5.0 billion in the year-ago period

    Pfizer reiterated its 2024 revenue forecast of $58.5-$61.5 billion after 2023 revenues came in at $58.5 billion

  • Oman and Etihad Rail Co, Al Jazeera Steel sign MoU for raw materials

    Sohar, Oman -- Oman and Etihad Rail Company (OER), the developer and operator of the UAE-Oman Rail Network, and Al...

    Under the terms of the agreement, OER will leverage the UAE-Oman Rail Network to support Al Jazeera Steel in optimizing inbound and outbound logistics from its factories in Oman.

    Once fully operational, the UAE-Oman Rail Network will unlock efficiency in freight movement by reducing travel time between both countries.

  • Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023

    RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...

    The industrial sector in Ras Al Khaimah achieved a 5.3 percent annual growth rate in valid licence capital.

    Commercial licences experienced a 14.4 percent annual increase, bringing their total capital to $1.3 billion.