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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.
  • Egypt ties up with Japan, France to build 500 MW wind farm

    A consortium of companies has signed a 20-year deal with the Egyptian Electricity Transmission Company (EETC) to develop, construct and...

    The Nasdaq Dubai and Egypt stock exchange listed company did not disclose a value for the project

    The project is subject to financial close, after which the wind farm will be implemented in 30 months

  • A deposit to fund green projects in Middle East

    HSBC UAE has managed to secure the first green deposit from Saudi British Bank (SABB) through its new program dedicated...

    The deposit will be used solely to finance green initiatives

    HSBC launched in June its Green Deposits offering for commercial and institutional clients in the UAE

  • Mubadala Capital buys Taco Bell franchisee

    Mubadala Capital, the financial investment arm of Abu Dhabi’s sovereign investor Mubadala, has acquired one of the largest Taco Bell...

    Mubadala Capital bought K-Mac Holdings Corp from Lee Equity Partners Opportunities Fund

    Mubadala Capital has invested about $1.8 billion in the F&B sector in the past seven years

  • Savills says GCC real estate to benefit from global migration

    The Middle East’s real estate sector may benefit from the return of global population movement to pre-pandemic levels in 2024.

    Improvement in global migration has pushed the real estate sector to “new heights”

    This also comes as governments in the regions have gradually lifted pandemic-related restrictions on consumer activities

  • Sukuk momentum may continue over the medium term on investor appetite: Fitch

    Sukuk momentum is expected to continue over the medium term supported by intact investor appetite, funding diversification and refinancing needs,...

    Sukuks amounting to $57.3 billion were issued in the GCC region, Malaysia, Indonesia, Turkey and Pakistan in the third quarter of 2021.

    Global outstanding sukuk reached $775.4 billion in the third quarter, 2.8 percent higher than the previous quarter.

  • UAE, Senegal to set up joint business council

    The MoU was signed on the sidelines of the Expo 2020 Dubai in the presence of President Macky Sall of...

    For the UAE, the MoU signatory was Abdullah Mohamed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry

    For the African country, it was Aba Traore and Elimane LAM on behalf of the Consortium of Employer’s Unions of Senegal

  • Africa needs to revamp transportation for economic development: DP World CEO

    Africa offers significant potential for investment and economic partnerships that can create mutual benefits for UAE businesses and their African...

    Africa offers significant potential for investment and economic partnerships, Sultan Bin Sulayem said at Global Business Forum Africa.

    Dubai keen to transfer its experience to help develop business in Africa, Bin Sulayem said.

  • DSOA program to aid techpreneurs and startups

    DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021.

    DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021

    The tech-focused startup event will run from October 17 to 20 at the Dubai World Trade Center

  • Oman to get green ammonia plant at Salalah

    The new project, named SalalaH2, will target the production of up to 1,000 tons per day of green ammonia.

    An international consortium has signed an agreement to develop a green hydrogen and green ammonia project at the Salalah Free Zone in Oman

    The consortium consists of the alternative energy business unit of Oman’s national petroleum investment company OQ, Marubeni Corporation, Linde, and Dutco

  • DMT issues a new Code of Practice for marina operations

    The Department of Municipalities and Transport (DMT) has announced a new Code of Practice (CoP) encompassing the primary Health, Safety...

    The new code will push the emirate's ambition to become one of the top five global maritime centers by 2030.

    The code stipulates mandatory attestation of Marina Berth Leasing Contracts by DMT no later than six months or at the time of the next contract renewal.

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