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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.

Truckmaker Scania pauses production over chip shortage

The Volkswagen subsidiary employs 50,000 people and turns out around 100,000 trucks and buses per year
  • This week's suspension is Scania's first since the coronavirus pandemic forced a production halt in April 2020
  • "It's a difficult period and too many things are pointing in the wrong direction," Scania spokeswoman Karin Hallstan told AFP

Swedish truckmaker Scania said Monday it would pause lorry production in Sweden, France and the Netherlands for a week, as a global semiconductor shortage continues to sap the auto sector.

The Volkswagen subsidiary, which employs 50,000 people and turns out around 100,000 trucks and buses per year, added that further breaks would follow in Argentina and Brazil next week.

“It’s a difficult period and too many things are pointing in the wrong direction,” Scania spokeswoman Karin Hallstan told AFP.

This week’s suspension is Scania’s first since the coronavirus pandemic forced a production halt in April 2020.

Hallstan said that it was “too soon to speculate” what the financial impact of the pause might be, saying the firm “hopes to be able to make up the shortfall by working as much as possible, although it’s clear we won’t completely catch up”.