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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.
  • SEC, Emaar Economic City sign agreements  

    RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...

    The two agreements aim to deliver electrical service to the second and third phases of KAEC projects.

    These aim to provide electrical energy for major projects related to achieving the goals of the Kingdom’s Vision 2030.

  • ByteDance to sell gaming arm

    It is in talks with buyers including tech giant Tencent.

    The discussions would see the firm sell Nuverse, a video game publisher that is a subsidiary of ByteDance

    Nuverse was once viewed by the firm as a vital component in its bid to catch up with Tencent

  • CES gadget fest a showcase for AI-infused lifestyle

    The annual Consumer Electronics Show gathering boasts more than 3,500 exhibitors and is expecting some 130,000 visitors. Companies big and...

    CES exhibitor and attendee numbers have jumped each year since the Covid-19 pandemic caused it to be an online-only event in 2021

    While the show is increasingly a showcase for startups, big brands such as Amazon, Google, Intel, Netflix, Samsung, SonY will also be there

  • Aldar to invest US$272m in logistics

    The developer will expand business in Dubai, Abu Dhabi.

    It will acquire assets and develop ready-to-lease and build-to-suit options in response to strong demand for grade A logistics facilities

    In Dubai, Aldar has bought 7 central logistics hubs and an adjacent plot, which will almost double the current gross leasable area of 19,000 sqm

  • Oil prices slump but stock markets mostly higher

    Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight...

    US and European oil futures fell around four percent after top exporter Saudi Arabia cut the price of its crude, weighing also on shares of energy majors, analysts said

    Drop in oil prices weighed on energy shares, with Shell down 2.9 percent as investors reacted to mixed trading update ahead of British oil major's annual earnings due next month

  • Samsung expects profit dip

    The tech giant forecasts profit to fall to US$2.1bn for Q4.

    The tech giant said in October that it expected better conditions for the memory market in 2024

    The South Korean firm is expected to release its final earnings report for 2023 at the end of this month

  • Bitcoin surpasses $47,000, first time since March 30, 2022

    Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...

    Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency

    The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies

  • Etihad Airways spreading wings to embrace new skies

    "Our goal is to usher in a new era of sustainable growth, anchored by a solid strategic plan," he adds,...

    Etihad plans to expand its global network with new destinations like Boston and Nairobi as part of the 'Etihad Airways 2030' strategy.

    The airline bolsters its strategic growth, providing premium services and connecting Abu Dhabi to 117 international destinations.

  • CBB Sukuk Al Salam securities oversubscribed by 372%

    Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has...

    With a maturity period of 91 days, subscriptions worth $426 million were received for the $114.36 million issue

    According to Bahrain News Agency, the expected return on the issue is 6.35%, equivalent to the previous issue

  • Markets drop as US jobs deal fresh blow to early rate cut hopes

    Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after...

    The keenly awaited non-farm payrolls data Friday showed the world's number one economy remains resilient despite interest rates sitting at a two-decade high

    Equities ended 2023 with a surge as traders bet on a string of reductions this year thanks to falling inflation and a softening of the labor market