Borouge 2024 net profit $1.24bn

• EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.
• Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.

ADQ, Orion to establish JV

• The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
• The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.

Alpha Dhabi acquires interest in NCTH

• It acquired the 73.73% controlling interest after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy Limited to NCTH in exchange for shares.
• The deal Alpha Dhabi Holding’s investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets.

Samsung says planning job cuts

• The world's largest memory chipmaker is modifying staffing levels in Southeast Asia, Australia, and New Zealand, a company spokesman told AFP
• The "routine workforce adjustments" are carried out "to improve operational efficiency," said Samsung Electronics in a statement

GM reports US sales dip, that of EVs grew

• The big Detroit automaker reported 659,601 US sales during the period, down 2.2 percent from the year-ago but marking a slightly smaller decline than analysts projected
• GM described its EV portfolio as "growing faster than the market" with sales jumping 46 percent in the third quarter, topping 32,000

Xiaomi posts solid quarterly sales growth

• The brand's presence is strongly felt in China, with its wide range of products spanning mobiles, tablets, smartwatches, headphones, scooters and, recently, electric vehicles
• The world's third-largest smartphone maker, Xiaomi reported revenue of 88.9 billion yuan ($12.5 billion) in the second quarter, an increase of 32 percent year-on-year

Intel to slash workforce

• The plan to cut approximately $20 billion in expenses this year came as Intel reported a loss of $1.6 billion in the recently ended quarter
• Intel reported having 124,800 employees at the end of last year, meaning the layoffs could hit about 18,000 positions

Boeing guilty plea deal filed

• The plea deal must be approved by a federal court judge and it includes an additional $243.6 million to be paid by Boeing on top of a previous fine of the same amount
• Boeing conspired to defraud US air traffic safety regulators about the Max 737 while the aircraft was being certified, according to the filing

Tesla auto deliveries beat expectations

• Tesla said it delivered around 444,000 vehicles worldwide in the April-June period, exceeding consensus estimates compiled by FactSet
• Of the total figure, 422,405 involved Model 3 and Model Y vehicles. Tesla gave no detailed breakdown of the other autos delivered

Apple holds talks with rival Meta