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TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Borouge to increase dividend from 2025

The company okayed $650 million final dividend for 2024.

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.
  • Sales of Tesla's electric cars in France fell 36.8 percent in March from a year ago amid a slight drop in the overall electric car market
  • In Sweden, Tesla sales declined 63.9 percent in March and 55.2 percent in the first three months of the year, according to Mobility Sweden

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds
  • The automaker reported a 1.3 percent dip in sales in the world's biggest economy, to 501,291 vehicles, compared with the same period in 2024.
  • This was mainly due to the discontinuation of certain vehicle models and rental fleet sales timing, the company said.

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.
  • Beijing has in recent years grappled with a prolonged crisis in the country's vast real estate sector, once a key pillar of the economy but now beset with sprawling debt.
  • Hong Kong-listed Vanke is part-owned by the government of Shenzhen and was China's fourth-largest real estate firm by sales last year, according to research firm CRIC.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.
  • Net profit last year also saw growth, rising nearly 40 percent percent to 1.9 billion yuan.
  • China now dominates the global wind sector in terms of total installed capacity, aided over the years by generous strategic subsidies from Beijing.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.
  • Emaar’s revenue backlog from property sales exceeded AED110 billion (US$30 billion), supporting future revenue generation.
  • Total revenue for 2024 reached AED35.5 billion ($9.6 billion), marking a 33 percent year-over-year increase.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.
  • The agreement brings together experts in their respective fields to provide the Jubail Industrial City area with hydrogen, including lower-carbon hydrogen, at scale.
  • BHIG is expected to commence commercial operations to produce blue hydrogen in coordination with Aramco's carbon capture and storage (CCS) activities in Jubail.

ADNOC L&S okays $273m dividend

The final dividend of $136.5m will be paid on April 3.
  • ADNOC L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency, the company said. 
  • Revenue increased 29 percent year-on-year to over $3.5 billion (AED13 billion), while net profit rose 22 percent to $756 million (AED2.7 billion).

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.
  • It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
  • ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.

BYD surpasses Tesla with record revenue

The Chinese EV giant's net profit was $5.55 billion for 2024.
  • The Shenzhen-based firm has emerged in recent years as the clear leader in China's highly competitive EV market, which is the largest in the world.
  • BYD's publication of strong results comes after Tesla announced lower than expected profits for the fourth quarter of 2024 in late January.

Al Ansari approves $85m dividend

This is approx 78% of the company's net profit after tax.
  • Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
  • Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.

TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Latest News

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Most Read

ADNOC L&S okays $273m dividend

The final dividend of $136.5m will be paid on April 3.
  • ADNOC L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency, the company said. 
  • Revenue increased 29 percent year-on-year to over $3.5 billion (AED13 billion), while net profit rose 22 percent to $756 million (AED2.7 billion).

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.
  • It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
  • ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.

BYD surpasses Tesla with record revenue

The Chinese EV giant's net profit was $5.55 billion for 2024.
  • The Shenzhen-based firm has emerged in recent years as the clear leader in China's highly competitive EV market, which is the largest in the world.
  • BYD's publication of strong results comes after Tesla announced lower than expected profits for the fourth quarter of 2024 in late January.