Emirates NBD 2025 profit $8.5bn
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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.
Business
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.
Business
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.
Business
TSMC first-quarter net profit soars
Its net revenue for the quarter soared nearly 42%.
- TSMC is the world's largest contract maker of chips that have become the lifeblood of the global economy, powering everything from smartphones to missiles.
- Demand for chips has soared in recent years with the growth of AI, but there are fears that Trump's far-reaching tariffs could drive up consumer prices and hurt chipmakers.
Business
Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.
- Saudi Arabia is a key regional ally of Washington, and US President Donald Trump forged close ties during his first term with Crown Prince Mohammed bin Salman.
- However, demand for EVs is relatively low in Saudi Arabia, the world's largest oil exporter which enjoys bargain-basement fuel prices, with a liter costing just $0.62.
Business
Mubadala Energy enters US energy market
Acquires a 24.1% interest in US firm Kimmeridge’s SoTex
- Through SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water.
- The deal bolsters Mubadala Energy's growth plans to invest across the gas value chain in key energy hubs around the world.
Business
Borouge to increase dividend from 2025
The company okayed $650 million final dividend for 2024.
- At the current Borouge share price, this would give investors a 40 percent minimum cumulative dividend return from 2025 to 2030, the highest in the UAE.
- The AGM also approved a share buyback of up to 2.5 percent of outstanding shares via open-market transactions, subject to market conditions and regulatory approvals.
Business
TikTok’s US future uncertain
It must find non-Chinese owner to avoid ban.
- In the hours before that deadline, TikTok temporarily shut down in the United States and disappeared from app stores, to the dismay of millions of users.
- Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally.
Business
Tesla Q1 sales sink 13 percent
The dip occurred amid lower production during factory upgrades.
- Musk's electric vehicle company delivered 336,681 autos in the quarter ending March 31, missing analyst expectations.
- Tesla shares fell more than six percent in early trading after the deliveries fell by more than expected from the year-ago stretch. Shares later partially rebounded.
Business
AD Ports Group 2024 revenue $4.70bn
The Group's EBITDA increased by 69 percent YOY.
- All of the Group’s business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue.
- The Group successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.
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Al Rajhi profit up 26%
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Google to invest $6.4bn
The investment is its biggest-ever in Germany.
- Google's plans include a new data center and expansion of an existing center in the western state of Hesse, providing computing power for artificial intelligence.
- It also plans to expand its offices in Berlin, Frankfurt and Munich, and outlined various projects aimed at reducing its greenhouse gas emissions.
Business
Pfizer poised to buy Metsera
The pharma giant improved its offer to $10bn.
- The Danish firm said Saturday that it "does not intend to make an increased offer to acquire Metsera."
- The company "will continue to assess opportunities for business development and acquisitions that... further its strategic objectives," it said.
Business
Ozempic maker lowers outlook
The company posted tepid Q3 results.
- It marked the latest bad news for the pharmaceutical giant, which has recently changed its CEO, announced plans to lay off 9,000 employees and replaced more than half of its board.
- The group now expects full-year sales in 2025 to grow by eight to 11 percent, versus the eight to 14 percent range it had expected previously, the company said.