Vote to decide HSBC split

• Asia-focused HSBC has urged shareholders to vote down the proposal at its annual general meeting in Birmingham, central England
• Ping An has argued that the bank lags international peers and a recent improvement in performance was tied to rising interest rates

Iran seeks trade boost with Syria during Raisi’s visit to Damascus

• Raisi said Iran and Syria had signed 15 "cooperation documents" which would allow "both countries to open a new chapter in economic relations".
• Raisi and Assad signed a deal on "long-term strategic cooperation", covering fields including oil, aviation, railways and agriculture.

ECB raises interest rate but says more steps likely to fight inflation

• It was the seventh-straight increase in the ECB's unprecedented campaign of monetary tightening that began last year after costs of everyday goods began to soar.
• Thursday's increase brings the ECB's deposit rate to 3.25 percent, its highest level since 2008.

DEWA customers can make payments via Samsung Pay

Maersk Q1 profit dips

• For the first three months of the year, Maersk had a net profit of $2.3 billion, down from $6.8 billion a year earlier.
• The result fell short of analyst expectations, as Maersk also reported a 26 percent drop in revenue to $14.2 billion.

BMW Q1 net profit at $4.1bn  

• Overall vehicle sales declined by 1.5 percent year-on-year, with a 6.6 percent slide in China and a 1.9 percent decrease in Europe.
• In Europe, "the environment was characterized by persistent inflation and high interest rates," BMW said.

SODIC posts $0.10bn Q1 sales

• SODIC's majority shareholder, Aldar, led one of the largest foreign direct investments in the Egyptian real estate sector in 2021
• The company is also expanding its landbank in multiple areas across Egypt, including West Cairo, East Cairo, and the North Coast

Shell Q1 profits jump

• Profit after tax leapt 22 percent to $8.7 billion from a year earlier, when it had faced a large $3.9 billion charge over its exit from Russia after Moscow invaded Ukraine
• Adjusted earnings rose six percent to £9.6 billion and revenue advanced seven percent to $89 billion, sparking fresh outcry from critics as Britons face a cost-of-living crisis

Microsoft expands artificial intelligence programs’ access to public

• The AI-enhanced features of the company's Bing search engine and Edge internet browser are now open for anyone to use, Yusuf Mehdi, corporate vice president said
• The services have been enhanced with the ability to work with images as well as text, and Microsoft intends to add video to the mix, according to the executive

AD Ports adds drydock services at Khalifa Port in expansion drive

• The port with the expansion in services, from container and cargo handling, vessel repairs and maintenance, is aiming to improve client service
• The CEO of AD Ports said the addition of new service will drive growth and enhance the company's competitive position in the market