Etihad Q1 profit $187 million
Business
Yalla Group Q1 revenue $83m
Business
Masdar issues $1bn bond
Business
SABIC net loss $322 million
Business
Business
Boeing to check undelivered 787s due to fastener issue
New York, United States - Boeing said Thursday it is examining fasteners on some undelivered 787 jets after discovering problems with...
- The aviation giant, which faces intensified scrutiny from regulators following recent incidents said planes already in service can continue to be flown safely
- "Our 787 team is checking fasteners in the side-of-body area of some undelivered 787 Dreamliner airplanes to ensure they meet our engineering specifications," the company said
Microsoft unveils ‘AI-ready’ PCs
The company's pivot to AI has been celebrated by Wall Street.
- The tech giant estimates that more than 50 million "AI PCs" will be sold over the next 12 months, given the appetite for devices powered by ChatGPT-style technology
- Of all the tech giants, Microsoft has pushed the most aggressively to infuse the powers of generative AI into its products, often leaving rival Google to play catch-up
Business
Amazon triples quarterly profit
The company's cloud, ads, and retail businesses thrive.
- Amazon shares were up about one percent in after-market trades that followed release of the earnings figures
- Sales at Amazon online stores grew by 7% in the quarter despite competitive pressure from rivals such as Shein and Temu
Business
Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
- The cash injection to ramp up output to meet growing demand for antibody drugs brings "the total investment in the facility to over $3.2 billion", the company said
- The investment is part of its strategy of enabling the firm "to construct identical large-scale production facilities" in the United States and Europe, it said
Business
CBI, zypl.ai ink partnership
The pact aligns with CBI’s plan to support innovation in UAE.
- CBI, zypl.ai partnership signifies a strategic entry into using AI implementation for advanced credit scoring.
- CBI plans to further enhance operational efficiencies to ensure a swift and seamless lending experience.
Business
RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
- This strategic partnership leverages DP World's extensive trade network and real-time data insights.
- It empowers RAKBANK with enhanced risk assessment capabilities and streamlined access to financing.
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
Liberty Media buy MotoGP
Formula One owners paid US$4.5 billion for the deal.
- The acquisition is expected to be completed by the end of 2024 subject to clearances and approvals.
- MotoGP said Liberty Media would acquire "approximately 86 percent" stake from Spain-based owners Dorna.
Business
Omantel approves cash dividend
Net profit grew by 13.1 percent compared to 2022
- Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.
- Omantel Group revenues and profits, as the group's revenues were up by 9.7percent
Business
Huawei profit tops $12bn
The profits more than doubled compared to 2022.
- Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
- Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.
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Company News
Equinor signs $27 bn gas deal
Business
Etihad Q1 profit $187 million
Business
Yalla Group Q1 revenue $83m
Business
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Qatar Airways annual profit $2bn
Business
Masdar issues $1bn bond
Business
SABIC net loss $322 million
Business
Aldar nets $953m in sales at Fahid
Aldar said 42 percent of the buyers are under the age of 45.
Geostrategy
Qualcomm to Alphawave for $2.4 bn
The deal makes Alphawave the latest tech company to depart London.
Business
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Business
Etihad Q1 profit $187 million
This is a 30% YoY increase over Q1 2025.
- Total revenue saw a 15 percent rise compared to Q1 2024, supported by both passenger and cargo business.
- With nearly 20 million passengers carried over the last 12 months, Etihad is the fastest-growing airline in the region.
Business
Qatar Airways annual profit $2bn
This was a record 28% jump in annual net profit.
- Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said.
- In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.