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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Toyota to invest US$2.2bn in Brazil

Toyota's competitors have also recently announced major investments in Latin America's biggest economy. AFP
  • The automaker will make two "flex hybrid" models in Brazil -- using either petrol or ethanol as well as batteries -- creating around 2,000 jobs
  • Japan's automakers, in spite of the boom in electric cars, have relied on hybrid vehicles that combine internal combustion engines and batteries

Tokyo, Japan–Japanese auto giant Toyota said Wednesday that it plans to invest 11 billion reais ($2.2 billion) in beefing up production of hybrid vehicles in Brazil through 2030.

Despite the boom in electric cars, Japan’s automakers have long banked on hybrid vehicles that combine internal combustion engines and batteries.

Toyota plans to make two “flex hybrid” models in Brazil — using either petrol or ethanol as well as batteries — creating around 2,000 jobs, a statement said.

Dressed in traditional Japanese garb, Brazilian Vice President Geraldo Alckmin posted a thank you message on social media platform X that featured Mount Fuji and Japanese characters from Pokemon and manga comics.

“Another important step in the Brazilian economy. Private companies are back investing in Brazil’s future,” President Luiz Inacio Lula da Silva added on X.

Toyota’s competitors have also recently announced major investments in Latin America’s biggest economy including General Motors, Volkswagen and South Korea’s Hyundai.