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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.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.
  • Savola Group of Saudi Arabia buys out Bayara for $260m

    Savola Group of Saudi Arabia has bought out the Emirati snack maker Bayara Holding for $260 million.

    The transaction, paid in cash according to a stock exchange filing, was part of a five-year strategy to expand Savola’s regional operations

    Bayara is a major manufacturer and distributor of branded snacks in the UAE and the Kingdom

  • Al Dahra opens five animal feed plants

    The plants are located in Serbia, Romania and Bulgaria.

    The new plants have a capacity of 500,000 tonnes per annum of clover and more than 15 types of feed and concentrated grains.

    The firm recently added some 11,000 hectares of clover to its existing plants in Romania.

  • SABIC stock leaps up to 7-year high, trades at SR134.60

    For the first time in nearly seven years, the stock of Saudi Basic Industries Corporation (SABIC) has touched its highest...

    The stock is currently trading up just under 1 percent, with trading exceeding 500,000 shares so far

    Today’s rise has pushed the stock up a staggering 120 percent since March 2020

  • Work on $6.5 billion green hydrogen project in NEOM to begin in H1 2022

    The work on a $6.5 billion green hydrogen plant in Saudi Arabia's planned futuristic city NEOM is likely to begin...

    ACWA Power expects to finalize financing in Q1 2022. The project is a joint venture with NEOM Co. and American industrial gas company Air Products.

    The plant will need around 4.3 GW of clean energy to power it and ACWA plans to use solar in the day and wind in the night.

  • SIB profit up 30 percent in nine months

    The bank said it continued hedging policy despite corona recovery.

    Operating profits increased by 29.3 percent to reach AED 652.9 million.

    The bank's board has approved a proposal to allow foreign investors to trade in 40 percent of the bank’s shares.

  • Oman takes centre stage as T20 World Cup gets underway

    Originally scheduled to take place in Australia and then India, before being chased out of both by Covid-19, the seventh...

    Oman are playing in their second T20 World Cup having shocked Ireland at the 2016 tournament

    The eight teams in the first round of qualifying are chasing four places in the Super 12 round-robin stage

  • SODIC lands $100m loan

    This will finance SODIC’s West Cairo flagship project.

    The Arab African International Bank and Banque Misr is providing this facility to SODIC

    SODIC is expected to use this facility to finance its West Cairo flagship development known as SODIC West

  • Slovakia debuts its first Hydrogen car at Expo 2020

    The car has an aerodynamic design and is a sports model, and does not produce dangerous emissions.

    The vehicle, called the MH2 Hydrogen car, has been designed by Branislav Mauks

    He is a Slovakian designer who since 2007 has contributed in designing each of Ferrari’s models

  • PIF of Saudi Arabia to launch tourism on ‘THE RIG’

    Public Investment Fund of Saudi Arabia has announced the launch of ‘THE RIG,’ a new tourism project on oil offshore...

    “THE RIG” will span a combined total area of more than 150,000 square meters

    It will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences

  • US sees boom in cyber-extortion in 2021

    New data out Friday showed $590 million in ransomware-related payments were reported to US authorities in the first half of...

    Washington has sought to crack down on a sharp rise in attacks, including issuing its first sanctions against an online exchange

    The heists involve breaking into a company or institution’s network to encrypt its data, then demanding a ransom,

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