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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.
  • Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting an 18 percent increase compared to Q1 2024.
  • Revenue for Q1 2025 improved by 14 percent to AED 2.9 billion compared to AED 2.5 billion for Q1 2024.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.
  • Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
  • Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.

IMF cuts global growth outlook on impact of Trump tariffs

Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
  • The IMF projections see the global economy growing by 2.8 percent this year, 0.5 percentage points lower than the previous World Economic Outlook (WEO) forecast in January.
  • The IMF expects China, the world's second-largest economy, to see growth slump to 4.0 percent this year, down from 5.0 percent in 2024.

Boeing to sell some assets to Thoma Bravo

The $10.55 bn sale includes portions of digital aviation solutions business.
  • The transaction includes Jeppesen, an 81-year-old aviation navigation company that Boeing acquired in 2000.
  • Boeing chief executive Kelly Ortberg has described targeted divestitures as a way to improve the company's financial position after a series of losses.

Saudi Aramco, BYD form alliance to develop low-carbon automotive innovations amid EV growth

Saudi Aramco, the world's largest producer of oil, "is exploring a number of ways to potentially optimize transport efficiency, from...
  • The Saudi oil giant is already a partner with Renault of France and the Chinese automaker Geely in a joint venture to produce thermal engines
  • Saudi Arabia is working to diversify its economy, which is dependent on oil export revenue, and wants to set up 5,000 EV charging stations by 2030

DHL to stop global shipments worth over $800 to US consumers

Washington, United States -- Global shipping giant DHL will "temporarily" suspend the shipping of parcels worth more than $800 from...
  • President Trump has launched a wide-ranging trade war, threatening friend and foe alike with steep tariffs to address US trade deficits with individual countries.
  • As part of those changes, the government has also lowered the threshold at which parcels to individuals require formal entry processing by US Customs -- down to $800 from $2,500.

Gold hits record, dollar drops as tariff fears dampen sentiment

With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...
  • The precious metal was also helped by a weaker dollar, which has also been hit by worries about Trump's standoff with Fed boss Jerome Powell.
  • Stocks had a mixed start to the week, with Tokyo weighed by the stronger yen while Taipei, Jakarta and Bangkok were also in negative territory.

UAE foreign trade increases by 49% to reach $1.42 trillion in 2024

The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
  • The UAE accounted for 41.4 percent of the Middle East’s $1.5 trillion merchandise exports, with regional exports growing by 3.7 percent and services by 4.1 percent in 2024.
  • Globally, the UAE contributed 2 percent to services exports and 1.3 percent to imports, with service exports of $176 billion and imports of $106 billion.

Global tax plans targeting super rich and tech giants stall under Trump

Paris, France -- Global tax plans targeting billionaires and multinational companies are running aground, with the United States torpedoing reforms...
  • Countries have accused Amazon, Microsoft, Google owner Alphabet and Facebook's parent company Meta of sidestepping local taxes.
  • Trump issued a warning on February 21 to countries that would hit big tech and other US companies with fines or taxes that are "discriminatory, disproportionate".

Anti-hero Star Wars series “Andor” heads towards its finale

Paris, France -- If "Andor" -- which returns from Tuesday for its second and final season -- has been received...
  • For Disney, the success of "Andor" stands out as a new hope for a franchise that has become hit-or-miss with audiences in recent years.
  • That is why it has banked heavily on the 12-episode story, which cost a staggering $645 million to make, according to Forbes magazine.

China’s Xiaomi receives almost 300,000 SUV pre-orders in minutes

Beijing, China -- Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility...

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US aerospace manufacturers insist they have no use for tariffs

New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...

Apple under pressure to shine after AI stumble

Apple will showcase plans for its coveted devices and the software powering them at its annual Worldwide Developers Conference (WWDC)...

Gamers get hold of Nintendo’s hotly awaited Switch 2

Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...

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Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023

Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
  • Israel's defense ministry said that its arms exports hit an all-time high of more than $14.7 billion in 2024, despite international criticism of ongoing Gaza onslaught.
  • A majority -- 56.8 percent -- of the deals signed were "mega-deals" valued at at least $100 million each, the ministry said, adding that "operational achievements" in the Gaza war.

New WEF report reveals how tech convergence will reshape industries

Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
  • AI is a key enabler, making many emerging tech synergies commercially viable across industries.
  • Digital twins, enhanced by AI and sensors, are expanding efficiency in sectors from aerospace to healthcare.

Middle East tourism projected to reach $350 billion by 2030: ATM report

Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50...
  • Inbound travel from outside the region is set to grow by 13 percent annually up to 2030, while outbound business travel will surge at 9 percent per year.
  • China ranks third by value in leisure spending, expected to increase by 130 percent by 2030.